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Posted: 3/27/2006 7:54:30 AM EDT
Like I buy $100 USD worth of some other countries money...

When would it profit me.

I have no clue what I am talking about.

$100 = 1000& French Polyclops Current rate.

Would the ratio have to go down or up?
Link Posted: 3/27/2006 7:58:33 AM EDT
[Last Edit: 3/27/2006 8:01:58 AM EDT by PAEBR332]
Plenty of people make money doing currency trading. From the sound of your post, I doubt you would be one of them.
Link Posted: 3/27/2006 7:59:36 AM EDT
[Last Edit: 3/27/2006 8:00:04 AM EDT by Maxwell71]
Banks do this as well, What most did at the world trade center

Here
Link Posted: 3/27/2006 8:01:25 AM EDT
[Last Edit: 3/27/2006 8:01:46 AM EDT by PAEBR332]
Oops.
Link Posted: 3/27/2006 8:01:51 AM EDT
Here's a neat little story you might enjoy.

Link Posted: 3/27/2006 8:03:37 AM EDT
I think banks and other financial institutions can do it because they have millions of dollars worth of currencies to play with.
Link Posted: 3/27/2006 8:04:35 AM EDT
Warren Buffet and George Soros are in the top 5 of richest people in the world from money trading, IIRC.
Link Posted: 3/27/2006 8:05:46 AM EDT

Originally Posted By Hostile1:
Warren Buffet and George Soros are in the top 5 of richest people in the world from money trading, IIRC.



Buffet does some currency trading and hedging, but most of his money comes from other investments.
Link Posted: 3/27/2006 8:07:55 AM EDT
[Last Edit: 3/27/2006 8:12:01 AM EDT by StrkAliteN]

Originally Posted By PAEBR332:
Plenty of people make money doing currency trading. From the sound of your post, I doubt you would be one of them.






Edited to add:

Where are these people when I have a used car for sale ?

Me: I'll sell it for $3500

Him: No way

Me: OK $3750 and not a penny more

Him: Sold !
Link Posted: 3/27/2006 8:12:17 AM EDT
If you want to get into currencies, consider it a full time job.


www.fxcm.com/

You'll probably lose your ass trading commodities anyways. Most people do.

I highly recommend a nice mutual fund instead.
Link Posted: 3/27/2006 8:14:07 AM EDT
takes money to make money
Link Posted: 3/27/2006 8:14:35 AM EDT
Link Posted: 3/27/2006 8:15:39 AM EDT
I just want to know!!

Say on monday that $100 is worth 1000 FP. I buy 100FP.

On tuesday $100 is worth 500 FP.

I trade in my 1000FP and get $200 back.

Is this the BASIC way it works?
Link Posted: 3/27/2006 8:18:34 AM EDT

Originally Posted By warlord:
I think banks and other financial institutions can do it because they have millions of dollars worth of currencies to play with.



Yup.
Banks can and do make money this way beacuse they also have investments in real estate and other interests outside the US.

See...eventually, the money will need to be converted into a currency you can use. Unless you have vested interests in countries other than the US, you aren't gonna make a dime. Buffett, Trump...all the moguls make dough this way because of investments in other countries...thereby making money for them AND their banks.

Link Posted: 3/27/2006 8:19:50 AM EDT
[Last Edit: 3/27/2006 8:20:19 AM EDT by Cape_hunter]

Originally Posted By azcopwannabee:
I just want to know!!

Say on monday that $100 is worth 1000 FP. I buy 100FP.

On tuesday $100 is worth 500 FP.

I trade in my 1000FP and get $200 back.

Is this the BASIC way it works?



You may want to look at your numbers again....
Link Posted: 3/27/2006 8:20:52 AM EDT
So what IF i had some insider info that this ONE COUNTRY that currently has a 1-1000 ratio to the dollar is about to restructure to try and help its economy and it will be something like 1-20 afterward...


Should I sink $1000 into the deal?
Link Posted: 3/27/2006 8:21:46 AM EDT
[Last Edit: 3/27/2006 8:22:08 AM EDT by clement]

Originally Posted By Orion_Shall_Rise:
takes money to make lose money



fixed
Link Posted: 3/27/2006 8:26:10 AM EDT

Originally Posted By azcopwannabee:
So what IF i had some insider info that this ONE COUNTRY that currently has a 1-1000 ratio to the dollar is about to restructure to try and help its economy and it will be something like 1-20 afterward...


Should I sink $1000 into the deal?



Stop asking Martha Stewart for investing advice!
Link Posted: 3/27/2006 8:26:30 AM EDT
Lemme guess...ya wanna buy the Iraqi Dinar?


Originally Posted By azcopwannabee:
So what IF i had some insider info that this ONE COUNTRY that currently has a 1-1000 ratio to the dollar is about to restructure to try and help its economy and it will be something like 1-20 afterward...


Should I sink $1000 into the deal?

Link Posted: 3/27/2006 8:29:13 AM EDT
banks do
Link Posted: 3/27/2006 8:33:28 AM EDT

Originally Posted By azcopwannabee:
I just want to know!!

Say on monday that $100 is worth 1000 FP. I buy 100FP.

On tuesday $100 is worth 500 FP.

I trade in my 1000FP and get $200 back.

Is this the BASIC way it works?



To hell with my car !

I wanna sell this guy EVERYTHING I own

azcopwannabee

Stick w/ your goals to become a cop. Mathmatics does not appear to be one of your strong points

Link Posted: 3/27/2006 8:34:36 AM EDT

Originally Posted By Orion_Shall_Rise:
takes money to make money



Speak for yourself, I beg to differ
Link Posted: 3/27/2006 9:31:21 AM EDT

Originally Posted By azcopwannabee:
So what IF i had some insider info that this ONE COUNTRY that currently has a 1-1000 ratio to the dollar is about to restructure to try and help its economy and it will be something like 1-20 afterward...


Should I sink $1000 into the deal?




If your source is really that "inside" as to be credible, then probably your scheme would be illegal.

I'm no expert, but you <probably> shouldn't be posting it.

High reward = High risk Sorry I can't be of more help.
Link Posted: 3/27/2006 9:39:08 AM EDT

Originally Posted By azcopwannabee:
So what IF i had some insider info that this ONE COUNTRY that currently has a 1-1000 ratio to the dollar is about to restructure to try and help its economy and it will be something like 1-20 afterward...


Should I sink $1000 into the deal?



Only if the loss of the $1000 will not be a big deal to you.

There is a reason that stock and bond traders view commodity traders as reckless speculators...
Link Posted: 3/27/2006 9:44:10 AM EDT
Check OANDA. They have a game you can play, real time, real systems, the real thing except its fake money. Give it a try, find out for real if you can make money doing currency trading.

I think you'l lbe disappointed with the results unless your playing with hundreds of thousands of dollars if not millions.
Game

That said, I heard of a guy who had a system that served him very well.....
Link Posted: 3/27/2006 9:46:39 AM EDT
[Last Edit: 3/28/2006 5:29:57 AM EDT by g136653]

Originally Posted By BillofRights:


If your source is really that "inside" as to be credible, then probably your scheme would be illegal.

I'm no expert, but you <probably> shouldn't be posting it.

High reward = High risk Sorry I can't be of more help.


I would be quite stunned if you could cite a law against currency trading.

When I was in Iraq I bought 3 million dinars. Why?

In 1985 it was 1.00ID/3.35USD.

In 1991 when the Iraqis could not legally sell their oil it was .30ID/USD.

Now it is 1461.00ID/USD. When Iraq finally gets back to pumping oil the ID will suddenly have worth again.

Even if it goes to a 1:1 exchange rate, my $2000.00 investment will have paid quite handsomely. And not much of a risk if you ask me.
Link Posted: 3/27/2006 10:12:24 AM EDT
Even if you are successful with funny money, doesn't mean you are going to win when you start playing with real money. When real money is put on the line, the game changes completely because that is when emotion comes to play.

A typical losing mindset for many is to quickly take profits but hold onto losing positions forever in some delusion that the market has to come back their way.


Originally Posted By Specop_007:
Check OANDA. They have a game you can play, real time, real systems, the real thing except its fake money. Give it a try, find out for real if you can make money doing currency trading.

I think you'l lbe disappointed with the results unless your playing with hundreds of thousands of dollars if not millions.
Game

That said, I heard of a guy who had a system that served him very well.....

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