I've just been doing some reading on the forex market as i want to get a good grip on the inner workings of it before i start trading on a demo account.
This might seem like a stupid question but i just wanted to know for sure before i look any further...
I am looking to be position trader, holding positions for longer than days at a time. I read that the forex settlement date is +2 so delivery must be made within 2 days? I'm not sure whether i understand what is changing hands...does that mean that in 2 days the actual physical currency will come into my account? is anything required of me after settlement date? can someone please explain this a bit further for me. how does it effect me as a trader?
thanks in advance guys.