The Miracle of Forex
Rupert Hines III
Confused as to how the Euro could possibly be affecting his small and seemingly insignificant business, I asked him how. “Because of the Euro!”
He went on to explain, after calming down of course, that the distributor that he orders his vintage parts from had increased their prices by roughly 30% due to the dollar’s poor performance against the Euro. Apparently, it takes about $1.30 USD to buy the same merchandise that may be acquired with 1 Euro.
Essentially, the relationship between the dollar and the Euro is the same as we have always had with the Canadians—only, we have become the Canadians in this bizarre scenario!
After getting off the phone with dad I decided to investigate this currency exchange question a lot further and came to one startling but very true realization—the stock market is for chumps! Foreign Exchange is where it’s at.
The act of exchanging the legal tender of one country for that of another. People who play the currency exchange market (Forex) do! With the same amount of analysis or less in most cases, people anticipate the rate at which one currency will convert into another and Presto!—profits please!
So if one anticipates that the Euro will be stronger next week compared with the dollar and I convert $50,000 into Euros, then next week when the Euro does in fact rise I can convert those Euros back into more dollars than I initially invested only a few days earlier—or even the previous day! Why have your money tied up for extended periods of time praying for a good quarterly earnings report or being grateful for the peanuts thrown to you in the form of a dividend?
My father’s misfortune illuminated a new world for me. Trading currencies is simply better than playing the stock market and more profitable. Just as with the stocks, you learn which indicators to track and the fundamental principles which propel the market in one direction or the other. There are of course programs and courses out there offered by people who have played this game for years and who are now sitting back in luxury while the rest of us have seen our retirement plans devastated by that volatile mistress known as the stock market. So I ordered a Forex course and learned what I had to in order to start cashing in on this phenomenon. I stopped waiting on earnings reports and praying for those stocks to go up and started making money daily on in the currency exchange market!
My actual startup costs were only $500. Of course I already had my computer and internet connection, but for me the possibility of working only an hour a day from home and earning an extra few hundred dollars a week was amazing.
The course I ordered was Peter Bain’s Commercial Currency Trading Secrets but there are others out there. I just liked the idea of having a Successful trader at my side at all times. And Peter’s course allowed me to do that through his DVD’s.
This for me is a great way to earn extra income. I might even quit my job one day and do this full time. Learn more about this Incredible Income Opportunity for yourself. Just go to: http://tinyurl.com/8udgt and check it out for yourself.
About the Author
Forex Resources:
http://1forex.blogspot.com/
http://tinyurl.com/cfc2v
The latest information and news on Forex Trading:
Yahoo! News Search Results for forexIntegrityFX announces Live Forex Training for Middle East (AME Info)
IntegrityFX, LLC (IntegrityFX) announced today that it would begin offering Live Forex training in Dubai beginning in May 2009.
Mini Forex Accounts (PIZZAHEROS)
High leverage and low margin in these mini forex accounts play a very important role in magnifying trading gains as well as losses. Mini forex trading accounts come with lower account minimums than of regular accounts, which enables small investors to day trade in foreign currencies.
RBI earns $6 b from forex kitty (The Economic Times)
Despite the central bank?s foreign exchange horde dipping $23.4 billion during April-September 2008, the Reserve Bank of India (RBI) has managed to improve its earnings from forex reserves by about 30% over the same period a year ago.
Forex hedging rewards banks (The Star)
MALAYSIAN banks dealing in hedging instruments, particularly that involving foreign exchange (forex), are reporting profits in this area over the past two quarters.
FOREX-Euro falls broadly as euro zone inflation slides (Reuters via Yahoo! Ma...
* Euro hits 3-week lows vs dollar, sterling
Yahoo! News Search Results for currencies
Currencies: Euro under pressure as inflation slows and PMI falls (Market Watch)
The euro extended losses versus the U.S. dollar and other major currencies Tuesday after inflation data and a closely watched gauge of economic activity reinforced expectations for aggressive rate cuts by the European Central Bank.
Emerging-Market Currencies May Extend Drop, Morgan Stanley Says (Bloomberg)
Jan. 6 (Bloomberg) -- Emerging-market currencies are poised for further losses as recessions force wealthier nations to rein in overseas investment, Morgan Stanley says.
Asian Currencies May Extend Drop in 2009, Brown Brothers Says (Bloomberg)
Jan. 5 (Bloomberg) -- Asian currencies may remain weak in 2009 on slowing inflation, weaker growth and deteriorating exports, according to Brown Brothers Harriman & Co.
Euro to Decline Against European Currencies, Goldman Sachs Says (Bloomberg)
Jan. 5 (Bloomberg) -- The euro may decline by 10 percent against a basket of European currencies, which includes the British pound, Norwegian krone and the Swedish krona, according to Goldman Sachs Group Inc.
Currencies: Dollar rises vs. yen., euro on hopes for U.S. economic stimulus (...
The dollar, marking its highest levels against the euro and Japanese yen since early December, gains ground against most major global currencies, boosted by hopes for a large-scale stimulus plan to jolt the U.S. economy.