What are the trades?
Very easy answer currency. Because we are not actually buying anything physically. So this kind of trading might seem a little bit confusing.
When we buy some currency of a country, we are buying some shares of that’s country, like buying a replacement share. The currency price is the reflection of the current or future economic conditions of that country.
Like, When we buy Japanese yen, we actually buy a share in the Japanese economy. We think day by day the Japanese economy is improving and in the future, they will improve their economy more and When we sell those shares, I hope we will gain a quite good amount.
In general, the exchange rate of currency with another currency reflects the economy of a country compared to another country’s economy.
Every currency symbol has three letters. The names of the first two letters indicate countries name, and the third latter indicates the currency of that country.
For example NZD. Here NZ is used to mean New Zealand and D is used to mean Dollar. So it is very easy to verify, isn’t it?
Most of the time, these currencies are used to trade that’s why these currencies are main.
USD (dollar) is known as Buck.
USD is also known as many kinds of names like greenbacks, bones, benjis, benjamins, cheddar, paper, loot, scrilla, cheese, bread, moolah, dead presidents, coco and cash money.