My father, who owns a small parts store and garage for vintage British sports cars, called me up recently and droned on and on about how he is getting killed by the Euro. 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 precisely that! 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 $300. 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. 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 soon and do this full time. Learn more about this extremely profitable business for yourself. Just go to: http://tinyurl.com/8udgt and check it out for yourself.
About the author:
Forex Day Trading
Are you ready for some excitement? With Forex day trading you'll be in for a fun ride with lightning-fast trades, super-quick results and huge returns possible. The Forex market is open 24 hours giving an investor unprecedented opportunities to...
Forex Trading
The foreign exchange market, also knows as FOREX, originated in
1973 has become the largest e-currency trade market in the world
today. FOREX trading occurs 24 hours a day, 5 days a week. The
FOREX market offers a unique trading opportunity to...
Forex Trading Online - 7 Reasons You Should!
Copyright 2005 Keith Thompson Forex trading online is a fast way to use your investment capital to it's fullest. The Forex markets offer distinct advantages to the small and large traders alike, making Forex currency trading in many ways...
The Day Trade Forex System: How to Choose An Online Forex Brokerage Firm
What to look for in an online Forex Brokerage Firm:
1. Low Spreads In Forex Trading the 'spread' is the difference
between the buy and sell price of any given currency pair. The
lower the spread saves the trader money. Most firms offer...
There are real, live people behind Currency trading
The Internet offers an abundance of information about investing,
currency trading, forex market, about how, when and what to do
to earn more money in the easiest way possible. The "information
highway" is practically a gold mine for traders that...
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest / trade in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading.
** The Views and opinions represented in the provided website links and resources are not controlled by the Referring Broker or the FCM. Further, the Referring Broker and the FCM are not responsible for their availability, content, or delivery of services.
