- 168 (Registered)
The Power Trade System by Arthur Christian and John Prow
The Power Trade System by Arthur Christian & John Prow
Forex Trading – Foreign Exchange Course
You want to learn about Forex?
Foreign exchange, or forex, is the conversion of one country’s currency into another.
In a free economy, a country’s currency is valued according to the laws of supply and demand.
In other words, a currency’s value can be pegged to another country’s currency, such as the U.S. dollar, or even to a basket of currencies.
A country’s currency value may also be set by the country’s government.
However, most countries float their currencies freely against those of other countries, which keeps them in constant fluctuation.
Arthur Christian & John Prow – The Power Trade System
JOHN PROW JOINED WILSONS IN JUNE 1960 SUBSEQUENTLY TAKING OVER AS CHAIRMAN FROM HIS FATHER.
In this time John has led the company through extended periods of growth and prosperity making it one of the premier insurance and financial advisers. John has developed the business through innovative organic growth and the acquisition of other broking firms to build the business strategically over the years.
When not at work John spends time with his family and indulges his passions for skiing and cycling. He also has a passion for the more different and dangerous sport of mountaineering and mountain walking, trying to spend as much time indulging this passion in the mountains of Europe and, in particular, Austria.
What is forex?
Quite simply, it’s the global market that allows one to trade two currencies against each other.
If you think one currency will be stronger versus the other, and you end up correct, then you can make a profit.
If you’ve ever traveled to another country, you usually had to find a currency exchange booth at the airport, and then exchange the money you have in your wallet into the currency of the country you are visiting.
You go up to the counter and notice a screen displaying different exchange rates for different currencies.
An exchange rate is the relative price of two currencies from two different countries.
You find “Japanese yen” and think to yourself, “WOW! My one dollar is worth 100 yen?! And I have ten dollars! I’m going to be rich!!!”
When you do this, you’ve essentially participated in the forex market!
You’ve exchanged one currency for another.
Or in forex trading terms, assuming you’re an American visiting Japan, you’ve sold dollars and bought yen.
Before you fly back home, you stop by the currency exchange booth to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.
It’s these changes in the exchange rates that allow you to make money in the foreign exchange market.
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