June 2005
Beginner
304 pages
5h 40m
English
book
Forex Revolution: An Insider's Guide to the Real World of Foreign Exchange Trading
by Peter Rosenstreich
Content preview from Forex Revolution: An Insider's Guide to the Real World of Foreign Exchange Trading
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4. The Basics of Foreign Exchange
All Forex investors must master the basic structure and vocabulary of the market before they trade. This chapter introduces and explains some of the basic investing tools and the way they work.
Spot
A spot or Forex transaction is the most basic exchange in the foreign exchange market. It is simply the exchange of one currency for another. Every Forex trade consists of two simultaneous transactions: a buying of one currency and a selling of another. That's why it is called a spot or cash transaction. Technically all transactions have a two-day settlement, except for Canadian transactions, which have a one-day settlement.
For example, one trader exchanges $1 with another trader for 105 yen, just as an American ...
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