What Is Currency Trading? - Coin Community Forum

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Author	Replies: 4 / Views: 2,220
Dillon Valued Member United States 240 Posts	Posted 09/18/2009 3:17 pm Hello, I have heard stuff about currency trading... What exactly is it? Is there websites that I could go on, and trade US Dollars for Euros? Would you receive them in the mail? I don't quite understand what it is... -Dillon Report this Post to the Staff

rggoodie Moderator United States 23534 Posts	Posted 09/18/2009 4:18 pm Maybe someone can put it in simplified terms but here is a site that explains what currency trading is What is currency trading Trading guide Highlights Quote: How does this market differ from other markets? Unlike the trading of stocks, futures or options, currency trading does not take place on a regulated exchange. It is not controlled by any central governing body, there are no clearing houses to guarantee the trades and there is no arbitration panel to adjudicate disputes. All members trade with each other based upon credit agreements. Essentially, business in the largest, most liquid market in the world depends on nothing more than a metaphorical handshake. Will you ever have the currency - sorry NO! Quote: market is purely a speculative market. No physical exchange of currencies ever takes place. All trades exist simply as computer entries and are netted out depending on market price. For dollar-denominated accounts, all profits or losses are calculated in dollars and recorded as such on the trader's account. rggoodie aka Richard "catch em doing something right" Report this Post to the Staff
Dillon Valued Member United States 240 Posts	Posted 09/20/2009 8:20 pm Oh ok, thanks for the reply! -Dillon Report this Post to the Staff
WpgLwr Pillar of the Community Canada 1082 Posts	Posted 09/20/2009 8:42 pm It's like playing the stock market, but with foreign currency futures instead of commodities or securities. Report this Post to the Staff
Kiwi_Bird Valued Member 94 Posts	Posted 10/06/2009 10:24 pm I invest in foreign currency and spend it when I need to. What I do is purchase it over ebay or Craig's List (or whoever is selling it or wherever it's being sold). I wait to see how the exchange rates do. I read before I invest. I'm finding the South American currencies are becoming most profitable. When I think it's time to get out I either spend the currencies (to anyone willing to accept them in trade) or I auction them off. If you're looking to purchase any particular currencies let me know. I have a lot, even less common ones. I sell on Overstock Auctions and have done 1000 trades there so I'm reliable. Report this Post to the Staff
	Replies: 4 / Views: 2,220

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