What do you think, you know much about Forex or not? Are you thinking of yourself as a cool trader who knows everything? What is your Forex level, what do you think?
Ok, I’ve got a question for you. If you’re woken in 3 AM and asked about who’s Propeller Ben, I wonder WHAT will you answer? Huh? Exactly!
So it’s time to learn about Forex Terms! I’m sure that you’re more than tired of learning something every day, but professional and successful traders must know as much as possible about the currency market and everything related to it. And it also means, keep learning all the time.
So WHO is Propeller Ben? That’s one of the Forex Terms that hides a person beside it.
Propeller Ben or Ben Bernanke is the significant person for American economics. He is officially the chairman of the governor’s board of the US Federal Reserve. He is the one who changed famous Alan Greenspan on this place (we will talk about Greenspan studying next Forex terms). He was born December 13, 1953 in the pharmacist family, and studied economics to become a world’s famous economist later, and the man, who is ruling American economics now. He has written three books about macroeconomics, as well one on microeconomics. While his being in the chairman’s place the Fed has reached the highest point of power since the creation in 1913. US President Obama even told that Bernanke helped US to prevent another Great Depression.
Another one is definitely Alan Greenspan, who comes with another portion of Forex Terms. We already know that he was the predecessor of Ben Bernanke. Alan Greenspan, born March 6, 1926 was heading the Fed for 18 years – from August 1987 to January 2006, when the Bernanke took his place. He was famous for his sharp and market shacking public comments, being reelected five times for the Chairman of Feds place, and for prices extra controlling.
Next Forex Terms are coming, are you ready? Then, you know what “a ton of money” means? Yeah, you’re right – that’s way too much! But, if following what Bureau of Engraving and Printing has been saying, a ton of dollar banknotes has a very exact price and do you want to learn this one of Forex Terms knowing what it is? So, a ton of money is about $908,000. So, you’re nearly a millionaire if you have a ton of money!
Another one of our today’s Forex Terms, gold standard, returns us to the Forex History. This one of Forex Terms means the exchange rate (the thing that is so important for trading Forex!) and shows us the economic difference for one ounce of gold between two currencies. It has been used from 1875 to 1914 and during the interwar years.
So, your knowing of Forex terms is now higher than it was 10 minutes ago! What about the long position on the loonie? Strange, yes? And it means only buying a Canadian dollar in the order to wait for its price to grow higher!
