Million Dollar Granny

An old woman named Frau Ingebor Motz has gained 1 million dollars in Foreign Exchange market.

“Thanks to Forex market I became one of the most successful women in Germany despite being unemployed. It gave me a chance to earn a great amount of money. At present I gain 5000 – 10000 dollars per day and I guess that it was not my limit. I am not yet satisfied with what I have obtained”, she says.

It turns out that acquiring a new profession, having a progress and being a success are quite possible at every age and the example of Frau Motz is the best proof of it. Even if you are living the ninth decade of your life, everything is ahead.

Today the old woman is considered the most successful private investor. And young traders have to do nothing but envy her professionalism.

Тill the age of 48 Frau Motz was a common housewife, who was holding the house and bringing up her children. She entered Forex market 10 years ago for the first time. It was her accountant husband that provoked her to dive into that world. Once during a quarrel he scolded her: “You have never been smart enough to earn money”.

These words hurt her greatly and Mrs. Frau intended to prove him that he is not right. Unfortunately the death came earlier. Her husband died leaving her an inheritance of some securities. During 10 years she managed to create an investment package costing over one million euro from securities costing pennies.

So, presently the old woman is buying new securities, is trading in Forex market and in addition to it she receives a scholarship. “The retirement age is not the reason to bring everything to an end”, she says.

Can this example be repeated in Forex India?

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History of Foreign Exchange Part 2

History of Foreign Exchange Part 2 | See: Part 1

Floating Exchange Rates

According to the announcement made in 1971 by Richard Nixon, United States would not replace dollar for gold any more. This was the start of  Bretton Woods system disintegration. And later in 1976, due to the Jamaica agreement Bretton Woods system was completely collapsed leading to a system of floating exchange rates.
Since then, depending on the power of economy that prints the money,  currencies fluctuate and have floated in value against one another.  The value of currencies is affected by various factors like interest rates, retail sales, housing numbers, non-farm payroll, etc.

The Forex Market

After the abandoning of Bretton Woods system, institutional investors and banks were the only leading players in the Forex market. In order to trade one was to have great sum of money.
In 1994  Forex exchange appeared already online and gave the necessity of opening Forex brokers. Forex brokers made it possible for common individuals to participate too, as the latters  could trade with  leverage. There was no necessity of  putting up a great sum of money for market trading.

The Market Today

At present Forex market is considered to be the largest financial market on the earth. More than $4 trillion a day pass through the market by its participants. Then, why to give so much importance to the history of foreign exchange? After having studied the long way of  “Gold Standard” , we can say that it would be nice to get a minute fraction of that $4 Trillion each day. Now it’s time to look through the site and learn about Forex trading to be able to make a profit.
Source

History of Forex Part-1

History of Foreign Exchange

The history of foreign exchange greatly differs from that of other financial markets around the world. In this connection it would be relevant to mention the words of a sapient  man who considered that it’s really important for one to know and remember the history and the past of his antecedents, otherwise he’ll  always remain a child. If we try to relate this idea with  Forex  market it would mean that unless one is aware of how  it  came into being he will always remain a novice.  So the fundamental points of Forex history and its beginning are given below.

The Gold Standard

The term “Gold Standard" is hardly unknown to anyone. It stands for indicating something which is the best. It came forth in 1875 as a currency system. In this period countries made decision to fix the exchange rate by gold. So, currencies as backed by gold appeared. The country ought to have certain amount of gold for the given currency whether it’s dollar or not.

Bretton Woods System

Countries were short of money in the period of  World War I and World War II. Some countries like United States and Germany, that were included in the wars,  for some period of time didn’t make use of “Gold Standard” , and in order to provide sufficient money for wars they printed up more money.
Seventy representatives from the Allies made a decision in 1944 to create such a financial system that would give all dominant countries an opportunity to be integrated  in it. They made a system covering fixed exchange rates for currencies. They substituted the “Gold Standard” with US dollar making the latter overall reserve currency. The rest of the countries consequently estimated the value of the dollar.
Bretton Woods also contributed to the  formation of International Monetary Fund or IMF, the International Bank for Reconstruction and Development and the General Agreement on Tariffs and Trade.
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Rally Trade

2 DAYS LEFT

 Dear Forex traders, hurry up to register for the contest in IFC Markets. The contest will be held from February 4, 2013 to February 28, 2013. The conditions of participation are the following: you should open a new Real account and fund it with 100USD (leverage is up to the participant). A contestant with the largest trading account balance will be recognized as the first place winner. The same criteria will be applied to recognize other winners taking the rest of the winning places (from 2 to 5).

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