How to Maintain Growth in Foreign Currency Trading

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Maintain growth in foreign currency trading by paying strict attention to whether countries are bringing in more or less money than they are sending out. Monitor Web sites that track currency trade rates with help from a financial consultant in this free video on currency trading and investing.

Part of the Video Series: Currency Trading Guide
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Video Transcript

I'm Roger Groh and we're here to talk about how to maintain growth in foreign currency trading. Well, back to economics 101, is a country is bringing in more money than their spending, then you want to be long in that currency. If a country is spending more money than they're bringing in, then you want to be short that currency, and paying lots of attention to the health of that currency is critical to which side of that trade that you're going to be on. The way that you maintain growth in foreign currency trading is by monitoring that, and making sure that you are actively involved in a currency where a change is happening. If they're going from negative to positive or positive to negative that's when you want to be in that currency. There's so many around the world that you can pick from, there is two, three, four countries a year that are flipping. And, if you want to maintain growth in foreign currency trading pay strict attention to the economic condition of the currencies. Now, how can you do that? Well, you can go to websites that will help you track like, like this one from Lumbirth that will help you track what those rates are, and what the economic picture in those countries are. Also, most countries now have websites from their governments that tell you specifically what their situation is, whether their bringing in more money or losing money and there all sorts of summaries that you can buy. One of the easiest ways to do this is to go buy "The Economist" the magazine, and in the very back of The Economist, there are tables, and one of the line items on that table is current account. Current account is whether they're bringing in more money or sending away more money. If the current account is positive, be long in that currency, if the current account is negative, be short the currency. And, most importantly, be there when it changes, because that's your opportunity to make the most money. So, I'm Roger Groh, and that's how you maintain growth in foreign currency trading.


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