Go Back   Shreveport.com > Public Forums > Business & Finance

Notices

Reply
 
Thread Tools Display Modes
Old 03-04-2007, 10:16 PM   #1
AnimeSpirit
SBLive! Veteran
 
AnimeSpirit's Avatar
 
Join Date: Dec 2006
Location: Nowhere
Age: 35
Posts: 1,659
Rep Power: 184 AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future AnimeSpirit has a brilliant future
Send a message via Yahoo to AnimeSpirit
Forex 101

http://www.fxtrade.com

Now, I don't in any way claim to be an expert on this topic, but I do find it fascinating and those of you who are investors might like to know this information.

What is the Forex?
The FOREX is an abbreviation for "Foreign Currency Exchange." This is a means of investing your money in ways not unlike the stock exchange. However, instead of exchanging stock, you are literally exchanging currency between foreign countries to await a shift in the rate of exchange. How do you make money this way? It's very simple actually.

How does it work?
The FOREX allows you to trade "neutral currency" to and from the currencies of other countries. You wait for the value of the currency to shift, then you close the trade to collect your profit. Most people don't know this, but the value of every country's currency changes every 5 seconds, so these shifts happen several thousand times a day. If you buy several hundred units of currency at a low value, you can sell it back later when the value is higher. It is that simple.

How do you start?
How do you start? First, you get yourself a broker. My broker's site is above and I've had no gripes with them whatsoever in the year and a half I've been with them. Once you have a broker, you have a few things you can do from here. Oanda gives you free, unlimited access to their FXGame system that is basically the exact same as their true FXTrade system, except you play with fake money. This is useful for getting to know the system and planning your trading strategies.

That's about all the info I can offer right now. The rest is experience and experimenting. Later!
AnimeSpirit is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 05:55 PM.


Design By: Miner Skinz.com
Powered by: vBulletin Version 3.7.2
Copyright 2000 - 2008, Jelsoft Enterprises Limited.
2008 Shreveport.com