Trading currencies can be very rewarding, but it can also cost you big time if you don’t know what you’re doing. In this excerpt from the book “Adventures of a Currency Trader”, Rob Booker talks about the lessons he learned from a disastrous rookie trade.
One of the greatest features of the foreign exchange market is that it is open 24 hours a day. This allows investors from around the world to trade during normal business hours, after work or even in the middle of the night. However, not all times are created equal.
On the heels of more than 128 percent growth in 2007, Interbank FX (www.IBFX.com), a leading provider of online foreign currency (Forex) trading, recently announced the appointments of Daren Thayne, Chris An and Carrie Matteson to the company’s growing management team.
Danish online investment bank Saxo has acquired Cambiste, a French provider of Web-based foreign exchange trading services, for an undisclosed sum.
The proposed transaction between Danish investment bank, Saxo Bank A/S and Cambiste would, upon completion, reflect a strategic move by Saxo to address sophisticated French online investors’ growing appetite for Forex and Contracts for Differences and to further strengthen the bank’s ability to grow its business together with its French based partners.
