Foreign Currency Trading Fundamentals

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Foreign currency trading fundamentals require looking at the value of a country's currency and the political, social and economic situations occurring in the country. Hire an experienced broker to help determine an investment strategy for currency trading with advice from an insurance and financial adviser in this free video on currency trading.

Part of the Video Series: Currency Trading Tips
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Video Transcript

My name is Bill Rae. I'm with Alumni Financial Services. I've been in the finance and the business world for well over 20 years. Today, we're going to talk about foreign currency trading fundamentals. What are they? Well, first of all, what is currency trading? Currency trading, in its simplest form, is the betting, if you will, that a...that a country's dollar value will either rise or fall against another's. For instance, is the U.S. dollar stronger today than the Euro dollar? Is the Euro dollar stronger than the Canadian dollar? Are any of these stronger than the yen? You need to understand the fundamentals of currency trading. What I can tell you is that there is a great deal of risk in these type of markets. But as usual, with great deal of risk comes great rewards. You need to understand the fundamentals of this. What affects it? In other words, are there wars going on? What...are elections going on in the countries? How's their economy performing? All these things are...you need to fundamentally understand is...if you're going to deal in the currency market. My high recommendation is there are brokerages out there with licensed individual who can teach you, mentor you, and help you through this. Most of them actually have online tutorials. Highly advisable to go to these sites and, if you will, play Monopoly with pretend money 'til you really get a handle on this. And as always, in the financial field, I urge you to seek outside counsel. Talk to people who are licensed in their field that will help you through this, and that have been in the field for a long time. I've often heard that currency trading is kind of like ski-jumping on steroids. You never know where it's going to end, but it's guaranteed to be exciting. My name is Bill Rae. I'm with Alumni Financial Services, and we're here to help you build wealth.

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