Hello Men,
Wonderful website. A lot of useful information regarding forex.
I am new to the entire forex item, and have only signed a demo account. Most of the newcomer information I have found requires a little understanding of trading. I myself do not like to learn something unless I know the in's out's behind how it works. I guess what I am trying to find out is the entire concept behind trading currency.
This is my perception;
You begin with an investment, state $xx,xxxUSD.
In the event you wished to exchange USD/YEN, you'd buy some YEN if the USD is powerful. Lets state, USD/YEN 118.10
The idea is to exchange the YEN back for USD, if the YEN is stronger then the first trade (USD has got weaker). Say, USD/YEN 117.50. This outcome would make you a profit.
I need to get a handle on the notion, before I learn all the technical terms calculations. Any help would be appreciated.