subject: How Do I Trade On Forex? [print this page] You still have the power to "freeze" the deal for several seconds before you finalize it. Freezing allows you to adjust the terms or to accept them as they are. Or, you can call the whole thing off, and cancel the deal. Freezing is a feature offered exclusively by E-Global Trade & Finance Group, Inc. You can make changes to the deal's terms, or you can simply cancel it and either pocket any profits, or minimize any losses. What's more, E-Global Trade & Finance Group, Inc. allows you to set a "take-profit" rate. When and if the market reaches this rate, your deal will close automatically, allowing you to be away from your computer while you have an "open position."
forex history
In 1967, a Chicago bank refused a college professor by the name of Milton Friedman a loan in pound sterling because he had intended to use the funds to short the British currency. The bank's refusal to grant the loan was due to the Bretton Woods Agreement, established twenty years earlier, which fixed national currencies against the dollar, and set the dollar at a rate of per ounce of gold.
The Bretton Woods Agreement, set up in 1944, aimed at installing international monetary stability by preventing money from fleeing across nations, and restricting speculation in the world currencies Prior to the Agreement, the gold exchange standard--prevailing between 1876 and World War I--dominated the international economic system. It abolished the age-old practice used by kings and rulers of arbitrarily debasing money and triggering inflation. But the gold exchange standard didn't lack faults. As an economy strengthened, it would import heavily from abroad until it ran down its gold reserves required to back its money.
After the Wars, the Bretton Woods Agreement was founded, where participating countries agreed to try and maintain the value of their currency with a narrow margin against the dollar and a corresponding rate of gold as needed.
by: Richard wise
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