Courses Infomation

Wall Street. The Market, Mechanisms & Players by Richard Roberts

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.

This detailed guide looks at every aspect of Wall Street’s activities, explaining how they work, how much they matter, and who does what. It reports on and analyzes the highs and lows in Wall Street’s development and the regular occurrence of financial scandals. It examines the crisis in Wall Street that followed the collapse of the technology boom and the attacks on the World Trade Center. In short, it provides a complete overview of how Wall Street works and why it is important.

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.

Foreign Exchange
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.

Currency Exchange

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.

Salepage : Wall Street. The Market, Mechanisms & Players by Richard Roberts

About Author

RICHARD ROBERTS

RICHARD ROBERTS is Professor of African History and Director of the Center for African Studies at Stanford University. He has published widely on the social and economic history of French West Africa and has edited two volumes that have appeared in the Social History of Africa series (Law and Colonialism in Africa, coedited with Kristin Mann, and Cotton, Colonialism, and Social History of Sub-Saharan Africa, coedited with Allen Issacman).