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Chapter 1, Part I. FOREX – What is it? | Forex Military School

Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Feb 22, 2011.

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  1. Administrator

    Administrator Just Administrator :-)

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    “To create a perfect winning strategy,
    You should carefully investigate the
    landscape of the FOREX battlefield.”


    Commander in Pips: Ok, troops, let’s get started with this. I suppose most of you, at least once, went to another country. As you know, different countries usually have different currencies. If you are in London, for example, you need British pounds to take a date out for dinner in restaurant. If you’re in Osaka – you need Japanese yen instead. And what do you usually do, when you’ve just arrived at the London airport? Yes, you’re searching for a currency exchange center to change some of your US Dollars or whatever else you have for British Pounds. Congratulations, when you’re doing this, you’ve just become a FOREX market participant.

    Pipruit: Ok, ok – let’s shift to trading - how to make money on the FOREX market? I do not need all this theory, let’s trade…
    Commander in Pips: Hold on, son. Don’t be hasty. Remember what we’ve talked about in the introduction – discipline. If you don’t have discipline, you’ll probably lose all your money in the wink of an eye. But I can still give you a fast answer – almost as fast as you are:

    When your trip is coming to an end, and you start to think about returning home, you look in your wallet and find some British pounds there and think to yourself...

    - Say, I don’t need them any more; it needs to exchange them back to bucks in airport…

    You arrive at the airport for departure and visit the same exchange center. And what do you see? The exchange rate has changed! When you’ve just arrived, you converted $170 and got 100 Pounds. But after two weeks have passed you convert 100 pounds and received $171! You just made your first dollar trading FOREX.

    Pipruit: Cool! This is it that allows me to make money on FOREX – fluctuations of the exchange rate!​
     
    #1 Administrator, Feb 22, 2011
    Lasted edited by : Jan 30, 2016
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