Wed 21 Jun 2006
Who is a currency speculator - is it just a forex trader?
One of the greatest currency speculator is George Soros.
Basically, this term could be applied only to a big player in forex trading.
It is not enough to trade forex to be a currency speculator. The first and the main difference, when the amount of your deal (purchase) is big enough to influence on the cross rate of certain currency pair.
Main purpose of currency speculation deal is to influence on forex market to move it in a certain direction - Make a real deal - watch your account growth - fix your profit - change market direction - make money again.
To shake FOREX market it is not enough to invest just couple millions - it is necessary to invest at least 10% of a day trading volume of certain currency exchange floor, which is a huge amount of money.