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You are a currency trader if you travel abroad and have exchanged your own countries currency for the currency of the country you are traveling in. That trade is called FOREX (Foreign Exchange Currency). According to the Triennial Central Bank Survey of Foreign Exchange and Derivative Market Activity conducted in 2007 by the Bank for [...]
Its important, as far as currency trader basics, to remember that yield drives return.
Yield and Return
In a Forex spot market trade, you actually buy and sell two underlying currencies. As all currencies are paired in quotes, each currency has its value related to another. If EUR/USD is quoted at 1.3600 it will take $1.36 to [...]
A currency trader needs to leverage judiciously, though even with a relatively conservative leverage of 10:1, the NZD/JPY pair’s 7.5% yield would translate as a 75% return looking at it from an annual basis. If you held a 100,000 unit position in NZD/JPY and used $5,000 equity, $9.40 daily interest would be earned. Let’s move [...]
Between 2003 and 2004, the currency trader was getting a 2.5% positive yield spread with the AUD/USD . This might appear very small, but the return, with using a 10:1 leverage would become 25%. At this time, the AUD had rallied up from 56 cents closing at 80 cents against the USD, representing a 42% [...]
