Re: Is this like FOREX?

> To repond I have never traded FOREX but have investigated it a bit. I found that any time you trade on the large markets with the big players you are trading on the tides. Occasionally there are "tidal waves" either for the good or bad. The stock market has indexes that very risky like the OEX. Money can be made in a matter of minutes but as we all know the dollar can change rapidly against other world currencies as it did yesterday against the euro and such. This in turn caused oil prices to surge for the producers to make their same money. Now as for e-currency as I see it: there are millions of internet type of purchases per day .Some people use Pay-Pal and others e-bullion. I mean if you went to europe and wanted to purchase a product you'd have to exchange dollars for euro's. This is a similar to what e-currency trading is. You have no need to watch CNBC or stay at your computer watching Live charts as this is much slower. For now you would only be working with what is called gold digots. This is pretty much the foundation for trading e-currency. Now this system also has the benefit of working with internet merchants similar to what happens with bank card companies...You go to the auto repair shop to buy tires, You pay using visa/master charge/am express, the money is then transfers through a credit card center WHO TAKES A CUT FOR THEIR SERVICES and then the remainder deposited into the auto shops bank account at a discount usually of 1.5-4%. The retailler knows this is a cost of doing business with credit card programs. This is similar to e-currency trading.I have found e-currency to be on the positve every week some a little more than others. I wouldn't recommend dumping your grandmaws inheritance in for a get rich quick but enter as your learning has grown. This is not for everyone but I feel that learning e-currency from people who have been there done that is the best concept.

I hope this helps
Phil S

A few years ago I got briefly involved with learning how to trade on the
> Forex (FOReign Currency EXchange) via a local brokerage house. FOREX
> markets trade similar to the stock market but are vastly larger -- like
> trillions of dollars a day, mainly in big chunks (10s of millions) which
> are wired between banks. Individuals can participate on a smaller level.
> The brokerage house trained people for one week for free then let you
> trade "on paper" (make believe) to see if you knew what you were
> doing. If successful, you could start with a very small account ($10K) of
> your own money. You can also work out of your home using software which
> can be purchased from various vendors and which, when hooked up to the
> internet, will display a real-time or slightly delayed track of the
> various currency ratios as they change from moment to moment. I.e., kinda
> like the day-trading frenzy of the late '90s. Generally we traded between
> dollars, euros, yen and swiss francs.

> Problems:
> 1. Trading w/real money isn't as easy as paper trading.
> 2. It's almost impossible to predict minute-by-minute movements of the
> markets, so you find it gets to be like gambling or day trading.
> 3. Not being a major bank that trades tens of millions per day, you will
> get hit with a "spread" (trading fee) for each and every
> transaction that can often wipe out any tiny gains you might have made.