My uncle says he trades forex for a living. What exactly does this mean/what exactly does he do?
In: 1
He buys foreign currency when it’s weak and sells it when it’s strong, so if he bought €2 for $1, he’d sell his €2 down the line for $1.50.
Margins are a lot tighter and money used is a lot higher of course.
Forex is short for foreign exchange.
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