Forex Day Trader Review

forex question?

How is the value of currency calculated? I don’t want answers like, (interest rates, or supply/demand). The new york exchange market is calculated by software written by people in the new york exchange market. Since the currency trade is open in many different countries, how is it calculated, does the software that tokyo use, different than in london? ect. Not sure if i asked this right, but I am wondering if there is some type of software that all banks share, and is it written by a european? Follow up. The new york exchange deals with stocks. What exchange deals with currency?

There is no centralized market for currency trading, in New York, or anywhere else. It is a dealer-dealer market.

The price of a currency 1 in another currency 2 is whatever someone with currency 2 is willing to give for it. If somebody wants Mexican pesos and has US dollars to give, they are going to have to pay about 9 cents, regardless of whether they are in Chicago, New York, London or Tokyo. Location is irrelevant, because deals are settled electronically without shipping costs.

This is an auction market, which means supply and demand. I’m sorry if you don’t like that answer.