Topic 18
Foreign exchange: the price of one money in another
The largest market nobody invests in — written for the reader who already carries currency risk, and for the one who met FX as an advert.
- 1What the FX Market Is: The Largest Market Nobody Invests In10 min read
- 2Currency Pairs: Why Everything Is Quoted Against Something Else9 min read
- 3How Exchange Rates Work: A Ratio, Not a Price10 min read
- 4Pips and Lots: The Two Numbers That Set the Size of Everything10 min read
- 5Bid, Ask, and Spread: The Cost That Is Never Called a Fee10 min read
- 6Leverage in FX: How Far the Market Has to Move to Take Everything11 min read
- 7What Moves Currencies: Six Forces and One Caveat11 min read
- 8The Carry Trade: Picking Up Pennies, and the Reason That Phrase Exists10 min read
- 9Currency Regimes: Who Decides What a Currency Is Worth11 min read
- 10How Retail FX Brokers Make Money11 min read
- 11Currency Risk in an International Portfolio: Hedged or Not12 min read
- 12Why Most Retail FX Traders Lose: The Arithmetic, Assembled12 min read