October 2012
Beginner
160 pages
1h 49m
English
Content preview from How To Really Ruin Your Financial Life and Portfolio
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Chapter 2Trade Foreign Exchange
Possibly you remember from The New Testament about the part where The Carpenter cleared The Temple, that is, He tossed out the money changers who had set up shop in the Holy Temple in Jerusalem? Well, guess what! They’re ba-ack. Maybe not in the Temple, but they’re back.
Yes, the moneychangers, the people who exchange one form of money for another, are back in spades. (Also in clubs, diamonds, hearts, and no trump.) They are totally ready to welcome you to their elite brotherhood.
And quite a club it is. You may not know this, but the foreign exchange (forex) market is by far the largest market in the world. It runs 24/7 all around the world. Christmas. Easter. Rosh Hashanah. For those who like to make bets all around the clock and who like to particularly make big bets, it’s the best casino game on the planet. There are no sexy Keno girls and no one offering you free drinks to play card games and no free Buffalo wings, but it is an immense worldwide casino.
And it’s so exotic. Much more exotic than Las Vegas. It takes place all over the world, man. The whole world.
Faraway places with strange sounding names. Currencies from all over the world. Currencies from China and Japan and Taiwan and Russia and Argentina and the Eurozone and even from our own North America.
They are all trading against each other around the clock. Just going, going, going. Yen. Renminbi. Peso. Dollar. Pound. Euro. Zloty. Forint. It’s everywhere. There are over a hundred ...
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