Should you attempt to learn e currency exchange trading if the system a is just scam? Is what many courses like Matt Gagnon’s mazu are promoting a scam? If not, why are there rumors of e currency exchange being a scam?
In the past, a trader who wished to exchange his money into a currency from a different country would have to first convert it into U.S. dollars and then convert it to the type of currency he wanted. This is now bypassed by using a cross currency trade. A cross currency trade can take place between any two currencies, which do not involve the U.S. dollar. A EUR/JPY trade would mean paying Euros for yen; it would also be classified a cross trade.
Some people think this is a little slow for that type of return. These are generally the types of investments banks and large firms are dealt in. Most individuals prefer the stock market because it is a quicker buck. But currency exchange is a lot more secure, the currencies will always be around, and when investing a large sum of money can return quite well. Trading currency should be a pat of a well diversified portfolio.
Once you have the information brought up you can then read the exchange rate. Usually the rate is going to be bigger than 1. This is because traditionally the rates are given in a way so you will know just how much of the cheaper currency that you are going to need in order to buy a unit of the more expensive currency. So, if a euro is more expensive that the dollar the exchange rate would show how many dollars it would take to buy just one euro. So it would be noted as EUR/USD. The first would be the EUR and would mean that it was the more expensive Crypto Info, Price, Review and Analysis and then the USD would be the less expensive currency.
It is important to understand that every cycle repeats itself after a certain period of time. You should be able to recognize the phase of the current cycle and make a decision if you would like to hold on to the current position in the forex trading market or you would like to sell the currency that you currently hold to make a profit. Like any other trade you should be able to assess a particular currency’s rise and fall by doing a thorough technical analysis.
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There is talk if the new currency was fully backed by gold that with the current U.S. debt, gold in dollar terms would have to rise to $6300 per ounce. Of course as our debt as well as the interest rates continues to go up to pay down the debt, that number could go much higher. Whether or not if gold becomes part of a new currency backing or it fully backs the new proposed currency, it is very bullish for the price of gold. Any small dips that we see in the price of gold today represent great buying opportunities for tremendous profits ahead!