Welcome to our short tutorial. It will show you how to trade currencies in this year’s CNBC Million Dollar Portfolio Challenge. This year, 100,000 of your million dollar virtual account is available for currency trading. That means that you can take advantage of price movements in the international foreign exchange market. That’s the biggest financial market in the world, with an average of over $3 trillion traded every day.
Today, we will give you a brief tour of the Currency Trading Portion of the contest website. We will also show you how to place orders for currencies, how to keep track of your current trades, and how to keep an eye on your account – including your profits and losses.
To go to the currency portion of the contest, click on this tab at the top -- "Currency Trading powered by FXCM". FXCM is a major broker for individual currency traders, and will be providing the prices for the currency portion of the contest.