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Making Money Online! Part 2


Foreign Exchange Currency

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According to research Foreign Exchange is the biggest market in the world. It bring approximately 3 trillion US Dollar per day. It is a market Banks all over the world engage with. It is a market that may need skills and some knowledge

Understand that Forex is not a scam. It is ran by Banks across the world. It is highly regulated and it is engaged with. Economist are one of the few professions that actually actively engage with Forex. 

Business use Forex to actually determine the price of their products. When the rates are weak (for example USA: -1.68%) within a country the business will sell their products higher to obtain more profit. This is very skilled way for business to make more profit. This is one of the reason why companies change the price of their products. They do so to obtain profit.

Coke may be at a different price to the US and South Africa. If the exchange rate of US and South Africa is R10 is worth $1, then you'd think they technically are the same price. You will find that perhaps coke is $0.68 in the US and it is R11 in South Africa. Then coke is ripping South Africa off.

Banks also rip people off. See when you go on holiday with R10 000 to the US the bank gives you $1000. Let us assume you have a blast at the holiday and you now want to go home. You have not used that money though so you want it converted back to rand. When you go to the bank they only give you R7500. Why is that?

Banks and big business are trying to make profit and they are very very succeeding with this.

That is Forex right there. Trading in between currencies and obtaining profit. It is very easy and fast. In fact it is very very fast. So it may require time and attention. You cannot really just put your phone down and go about on your day. 

The currency exchange rate is the rate at which one currency can be exchanged for another. It is always quoted is pairs though, for instance EUR/USD (Euro and US Dollar). If exchange rate rises, you will sell the Euro back, making profit. That is it. But the trick is the market is confused in life, so you need to try catch it drift. 
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Many trader use indicators and some use economic analysis.

There are many books and classes that will teach you on how to trade. I obviously cannot cover that on one page.

Thank you for reading.

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