March 2012
Beginner
288 pages
6h 47m
English
book
FX Trading: A Guide To Trading Foreign Exchange, 2nd Edition
by Alex Douglas, Larry Lovrencic, Peter Pontikis
Content preview from FX Trading: A Guide To Trading Foreign Exchange, 2nd Edition
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Chapter 2: What is foreign exchange?
The abbreviations and words ‘FX’, ‘forex’ and ‘foreign exchange’ are all interchangeable terms used to describe the market in which the currency of one country is exchanged for that of another country. Foreign exchange transactions may be as simple as those encountered by a tourist when visiting a local money changer to conduct a physical exchange of one currency for another, or as complex as multi-legged option strategies executed between global investment banks over electronic trading platforms with multiple settlement dates in multiple currencies. Each transaction forms a part of the foreign exchange market.
An important concept to understand from the beginning is that, unlike the equities and futures ...
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