How can you make money from Forex trading?
Give
me examples using Australia Dollar as the home currency and US Dollar
as the dollar you want to buy and then exchange back to Aussie dollar.
By this, you can use the current rate or any rate but please specify
which side of the quote price that I should be looking at when exchange
one currency to the other. And when I exchange back, which price quote
should I be looking at again?
Thanks.
Investing - 1 Answers
Random Answers, Critics, Comments, Opinions :
1 :
Forex
trading is the trading of buying or selling certain currency. For
example, buying US Dollar, then selling it later at a higher price to
gain profit. Forex traders may also first sell US Dollar and later on
buy it back at a lower price with the same gaining profit. It’s simple
strategy of selling price minus buying price to make profit. In Forex
trading, we just treat currency as a good, buy it and sell it.
Quick example:
Today rate: AUD1 = USD1, so I use my AUD1 to buy USD1.
Tomorrow rate: AUD1.2 = USD1, so I sell my USD1 and I am getting
AUD1.20. As such, I am gaining AUD0.20 profit.
