2006-09-11 18:54:27 · 5 answers · asked by nagu 1 in Business & Finance ➔ Corporations
Right now I am watching the Euro fluctuate against the Dollar. This is stated as EUR/USD. 1 Euro will buy 1.2714 Dollars, oops it changed a little trying to go down. Once I confirm which direction the Euro will go, I will either Buy Long the Euro or Sell Short the Euro. Then if the darn thing go my way I wait and Close my Position and make money on the Difference of when I started and Finished my Trade. But, the rates fluctuate constantly up and down. They start around 5 p.m. EST Sunday and go until 5 p.m. Friday EST 24 hours a day. Saturday the only full day money not being traded somewhere around the world.
As I was writing this the Euro go from buying 1.2714 Dollars to only buying 1.2709 Dollars. Each point change is called a "pip" I could have made about $3 while I was typing.
2006-09-11 19:06:35 · answer #1 · answered by Snaglefritz 7 · 0⤊ 0⤋
Foreign Exchange (Forex) is a market that is open and fluctuating almost 24/7..... because the sun is always up in some part of the world. You can check financial sites for the latest rates or you can download software that streams the rates to your computer. Also, if you're thinking about trading, the Forex market is very inviting to small players. A lot of websites teach you how to trade forex so you'll open an account with them and earn them money every time you trade.
2006-09-11 18:58:21 · answer #2 · answered by chitown.nate 2 · 0⤊ 0⤋
use the Yahoo Currency Converter. Excellent tool!
2006-09-11 18:57:02 · answer #3 · answered by sam 2 · 0⤊ 0⤋
www.XE.com/ucc/ go here, they'll convert any currency, it is all known about through international communications and international markets and trading and so on, quite a complicated system that you'd do well to study at university
2006-09-11 18:57:22 · answer #4 · answered by Anonymous · 0⤊ 0⤋
you check the newspapers daily
2006-09-11 18:55:54 · answer #5 · answered by Anonymous · 0⤊ 1⤋