How do you make money trading currencies? Please explain as if to a first grader....?
I feel like I'm losing money everyday keeping my savings in USD. I live abroad but kept my money in USD because I just kinda figured it was safer, but boy I should've switched it to RMB (Chinese yuan) a long time ago. Now I'm moving to Japan in a few days and wonder if it would be better to take out all that money now (in China) and then switch it from RMB to yen, or if I should wait til I get to Japan and just switch USD-YEN. What's the best plan of action? I heard the dollar just fell a whole bunch against the yen, so thats why im asking. I don't really understand the currencies market...
Other - Business & Finance - 1 Answers
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EASY..just find a currency trading house and they'll let you know what is working best at that time, since it varies. Don't travel with all that cash..set up an account where you are which has an affilate in where ytou are going, and use that accountmto withdraw what you need as you need it !!
