The Unexpected Benefit of Trading Currencies

Today, we’re going to have a bit more fun than usual... [Jeff Clark's Market Minute]( The Unexpected Benefit of Trading Currencies By Imre Gams, analyst, Market Minute Today, we’re going to have a bit more fun than usual... We’re going to talk about currencies, but not strictly about trading. You see, learning to trade currencies has helped me in so many ways. Of course, it’s meant a lot to me financially. Currencies have become a very lucrative part of my overall trading strategy. But there have been many other benefits, too… Recommended Link [Do You Bank in Any of these 110 Banks?]( [image]( [These 110 banks]( have enrolled in a controversial pilot program that could have drastic implications for your money. If your bank is on this list, you’ll need to move your cash before September 20th… or risk your entire life savings. [Click here to see the full list.]( -- One of which is learning a lot more about other countries and their role in the larger global economy. I like to think of currency trading as though you’re buying and selling shares in the economy of a country. And if you want to understand the specific drivers of that country’s economy, you have to do a bit of research. For example, the Australian, New Zealand, and Canadian dollars are known as commodity currencies. That’s because each of these countries have significant commodity exports. Therefore, they can be sensitive to the fluctuations in price of various markets such as oil and copper. But let’s face it, that kind of stuff can be boring. The kind of research I really enjoy doing when it comes to other countries is from a traveller’s perspective. Travel is one of my big passions in life. I’ve always had a sense for adventure, and there’s few things I enjoy as much as visiting other countries, learning more about their culture, and of course, eating their food. My work as a currency trader has exposed me to so many different cultures and countries over the years. One factor that helps decide where I travel next is the exchange rate of a country’s currency relative to the U.S. dollar. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. I always want to visit a country where the dollar is much stronger than the local currency. This means that my money will go further when I travel. A great example of this is a recent business trip I took to Turkey. Turkey is a beautiful country with wonderful people, incredible natural beauty, and delicious food. But the best part of travelling to Turkey was that the exchange rate was extremely favourable towards the dollar. Turkey has been in an economic crisis for quite some time, which has destroyed the value of its currency, the Turkish lira. Just check out this crazy chart below highlighting the U.S. dollar and Turkish lira exchange rate (USD/TRY). [(Click here to expand image)]( This is practically the definition of a parabolic move. Ten years ago, one dollar was worth about 1.9 lira. Today, a dollar is worth 27 lira. That’s an increase of an astounding 1,321%. This means your money goes so much further in Turkey than it would in many other tourist destinations. It’s possible to have a truly luxury travel experience on a budget when you visit the country. For example, you could easily have an incredible meal for four people and spend under $80. This is in sharp contrast to my most recent trip to Iceland where a few coffees and pastries ran up a total of $44. As for currency traders, many of them can’t wait for the day this trend will eventually reverse. If the lira can ever regain some of its former strength, it might just make for one of the biggest trades of all time… Happy trading and travelling, Imre Gams READER MAILBAG Do you have any travel experiences to share? Let us know your thoughts – and any questions you have – at feedback@jeffclarktrader.com. IN CASE YOU MISSED IT… [Former Trump Advisor Reveals Secret in Trump’s Tax Returns]( My name is Brad Thomas. I’m a former economic advisor to President Trump — during one of the greatest economic booms in history... I’m talking about an IRS “payout” loophole that allows regular Americans to collect legally mandated payouts — up to $10,000 or more — connected to America’s biggest companies like Amazon... And that’s just to start... Because, according to Trump’s personal tax returns, he’s collected over $9.2 million from this type of opportunity (Not real estate!). I recently released a new presentation — recorded in a private studio near Mar-a-Lago... To discuss something I believe every American has the right to know... [Click here to see for yourself.]( [image]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2023 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. 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