The Only Thread I Will Ever Create - page 9
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Dreamliner,
I think its another way of saying "I'm not your guru."
In other words, you'll need to think for yourself in order to make it in this business.
Or perhaps, they just want to act like Jesus and speak in parables. You never know.Thanks for your thoughts here.
Tob is slightly correct in his analogy.
I've always been fond of the idea of teaching others, but I always hated when really blatant questions arises- questions that are clearly answered but no one seems to ever "hear" or "read" that it has been answered.
Critical thinking is the main point. Reading between the lines allows one to not only understand who I am, but what I am saying.
To understand me as a person, is to understand the way I speak, the way I relay my own messages- its a way of not only reading what I say, but reading the various other meanings I am trying to convey.
To do that- then you understand why I post. The the true meaning of why I take the time to make such explanations.
Reading between the lines, well- could just be a major problem in the English language to make things enigmatic. But ideally, it keeps people from degrading their ability to analyze things.
Thanks for your thoughts here.
Wallander
I sent this as a pm but alas you are too popular here and your inbox is full.
Hi in your signature there is a link for Vancouver forex it comes up with a blank page for me is it a work in progress or an old link. I have to strongly agree with you on the Laziness factor I run a forex forum and I will get pms all the time asking for help with some simple thing that a search could answer.
I live in Vancouver area thus my interest in your link
Cheers
Rick
Thank You
I am a complete Noob- 1 month in, and of course, I was one of the ones who had no losing trades for 2 days so thought-WTF this is too easy, there's got to be a catch. And of, course, the next day, found the catch, I got lucky, and had absolutely no idea what I was doing! I still don't, but I'm not pretending to. I am listening, and learning, and writing constantly.Anyway, just wanted to say thank you, because as a gangbuster Noob, I needed to hear the harsh truth- no disillusions to distort what I need to do to get where I need to be. If I am making independent decisions and breaking even in 3 years, I will be stoked!!!. I've been working at a "job" for 18 years now and am no better off financially or mentally than I was before I started. I am an Newbie, on my way to Independent- now, better get back to those squiggly lines on that charty thingy.
play with a DEMO account for 4 months, then you know what this is ALL ABOUT
Direct Quote vs. Indirect Quote
Direct Quote vs. Indirect Quote
There are two ways to quote a currency pair, either directly or indirectly. A direct quote is simply a currency pair in which the domestic currency is the base currency; while an indirect quote, is a currency pair where the domestic currency is the quoted currency. So if you were looking at the Canadian dollar as the domestic currency and U.S. dollar as the foreign currency, a direct quote would be CAD/USD, while an indirect quote would be USD/CAD. The direct quote varies the foreign currency, and the quoted, or domestic currency, remains fixed at one unit. In the indirect quote, on the other hand, the domestic currency is variable and the foreign currency is fixed at one unit.
For example, if Canada is the domestic currency, a direct quote would be 0.85 CAD/USD, which means with C$1, you can purchase US$0.85. The indirect quote for this would be the inverse (1/0.85), which is 1.18 USD/CAD and means that USD$1 will purchase C$1.18.
In the Forex spot market, most currencies are traded against the U.S. dollar, and the U.S. dollar is frequently the base currency in the currency pair. This would apply to the above USD/JPY currency pair, which indicates that US$1 is equal to 119.50 Japanese yen.
However, not all currencies have the U.S. dollar as the base. The Queen's currencies - those currencies that historically have had a tie with Britain, such as the British pound, Australian Dollar and New Zealand dollar - are all quoted as the base currency against the U.S. dollar. The Euro, which is relatively new, is quoted the same way as well. This is why the EUR/USD quote is given as 1.55, for example, because it means that one euro is the equivalent of 1.55 U.S. dollars.
Most currency exchange rates are quoted out to four digits after the decimal place, with the exception of the Japanese yen (JPY), which is quoted out to two decimal places.