Too often new traders come into the market without getting to know the most fundamental components of foreign exchange and how currencies work.
So we decided to make a video that explains the first things traders need to know in an easy and accessible way. Demonstrating them in the Trading 212 app, trading expert David Jones guides you through the meaning of the first terms and actions that you'll come across. These are always at the base of the skills all knowledgeable traders have and need to take on the markets.
At Trading 212 we provide an execution only service. This video should not be construed as investment advice. Investments can fall and rise. Capital at risk. CFDs are higher risk because of leverage.
thanks man very understandable and clear what you said. just short and to the point better than the typical pretty boy idiots you see on youtube just trying to sign up on something so get some commission
Question: if I was trading GBP/USD and wanted to cash my USD to pay some bills, would that only work if I had a USD bank account? If I had a bank accounts in both GBP and USD would that put me at an advantage if I needed to use any of the money for, for example, an online purchase? Excuse the dumb question, I’m completely new to this.
With CFD trading you never get a hold of GBP if you are trading it, you simply “bet” on the movement of it’s numerical value. If you are American you will only ever need to deposit/withdraw in dollars, regardless of what you are speculating upon.
Hello Daniel, you may read the "Funding and Withdrawing" section on the website's FAQ for more information - www.trading212.com/en/Frequently-asked-questions?cId=3. Upon a withdrawal, the money is going to be automatically converted to your credit or debit card's currency, if it is different than the one of your Trading 212 account.
Thanks for this video Mr. Jones.My country's currency is weaker against the major trading currencies. Please how can I buy a foreign currency to start a forex trading and get maximum returns since I can only get a local currency but not a foreign currency after trading? What is the best strategy to adopt? Thank you.
Uploading contracts to an online database should not take too long, and with the right solution, there should be a way to quickly drag and drop them into folders. Of course, the contract management team may want to give some thought as to how those folders are categorized. In some industries, it may make sense to classify them by agreement type, whereas in others they may need to be grouped by timeframe or date. It is obviously important to do what makes sense for your company and to ensure everyone understands the classification system that is instituted. With this sort of well-oiled system in place, it is a lot easier to keep a handle on things.
Divide and Conquer.
This is another area that is very industry-dependent, but it is highly unlikely that any company can afford to have an entire contract team devoted to managing one portfolio. More than likely, it is more realistic to divvy up the team and the contracts so that there is a leader for each relevant sphere. The entire team will obviously have to coordinate and communicate, but resources must be allocated in the most efficient manner possible. In turn, this will allow for several individuals to keep an eye on a smaller batch of contracts, thereby facilitating those periodic reviews.
Outsource the Tedium to Technology.