Name: English Learning Podcast Conversation Episode 229 | Learn English Fast | Improve Your English Skills
Uploaded: 2025-03-20T20:26:18.000Z
Duration: 19 min 54 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

Hello everyone and welcome to EnglishPod.

My name is Kathryn and today we've got an upper intermediate level lesson for you all about money.

We're actually negotiating in this very popular topic nowadays, the whole foreign exchange market.

So we're talking about currency, which is the money of different countries.

Hard to believe, but true.  I'll tell you all about it later.

Well, the currency of America is also the U.S. dollar.

So with that in mind, let's listen to today's dialogue.

Well, on top of the norm, you know, wife and kids and work, I've actually gotten into doing some trading.

The great thing about it is that I don't have to invest a huge amount.

I put in a margin deposit and then I can buy and sell up to a hundred times that much.

Just last night, I made 150 U.S. dollars.

I'd bought some RMB earlier at a low asking price, but last night it appreciated drastically.

So I made a split second decision and sold all of my RMB at an amazing bid.

I've also done some trading with Swiss francs and Australian dollars and Hong Kong dollars.

I've made some good profits, but I've also suffered some losses.

It depends on a lot of factors just like any other market.

In total, I've made about 500 U.S. dollars in the past few months.

So this guy is trading currencies as we heard and well, we're going to talk about a lot of the specific vocab that he used about this topic.

So why don't we take a look at some of those now in Language Takeaway.

Well, the first thing I think we should talk about is one of the first things that he says actually.

So obviously, he hasn't seen him in a long time and that's what in ages means.

So what other ways can we use in ages or the word ages?

Well, you could actually say, it's been ages.

It's been a long time or we haven't gone out for ages.

Okay, so then you can use it with for, for ages.

So the key word here is ages which means a long time.

And well, he hasn't seen him in ages and the guy is like, well, you know what, I've actually gone into trading.

So that means he's started doing some trading.

Now, trading is a very broad word because you can trade as in this case, currencies, which is basically to buy and sell currencies.

You can trade stocks or even people that are involved in import export.

They are involved in trading.  So basically, trading is buying and selling something.

You are exchanging a product for money or money for a product.

But the difference is you're not actually making any products.  Okay.

You're not really manufacturing anything.

You're just exchanging goods and services and money.

Now moving on, he was explaining how the foreign exchange market works and he says, I don't have to invest a huge amount.

Because a deposit is basically money that you put, invest somewhere or that you, you pay in.

Well, basically a margin deposit is like a percentage.

So he basically puts in a percentage of what he intends to buy.

So for example, a margin deposit of a thousand dollars might be $1 or $10.

So maybe if it's $10, you're talking about a 1% margin.

So that's what he means by a margin deposit.

And that's why he explains that you don't have to have a large amount of money in order to trade in the foreign exchange market.

You just put in a margin deposit and then you can work around that.

Well, it sounds pretty easy, but then he explains some more details about it and it gets to be a little bit more complicated.

He explained about how he makes money and how he bought some Chinese renminbi and then he sold it because it appreciated drastically.

So he bought it when it was cheap and he sold it when it was expensive.

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English Learning Podcast Conversation Episode 229 | Learn English Fast | Improve Your English Skills

phrase

appreciate

situation

basically