Currency Trading (with ANT)

antofarabiaantofarabia
in Everything Else
couple of Long Positions to look for AUD and GBP continued rise against the dollar for a medium / long term position (while they have both moved up substantially in the last week or so against the dollar ... the trend seems to continue towards this direction)

if you want this advice awesome ... if not... well it didn't hurt

Please note, I will NOT try to mislead you, but currency trading involves a great deal of RISK!  You can LOSE a lot of money ... and you can make a lot of money.  If you get into this do not overextend your margin ... and do not be afraid to leave positions open to allow for corrections.

Comments

  • antofarabiaantofarabia
    for accuracy GBP valued at 1.59682 at the time of this post AND

    AUD valued at 0.77880 at the time of this post
  • QuackQuack
    You're a weirdo.
  • udisiudisi
    not really, with the US printing fun money, buying foreign currency can be a great idea.
  • buyatari2buyatari2
    Originally posted by: udisi

    not really, with the US printing fun money, buying foreign currency can be a great idea.


    or gold because even if all money drops gold goes up everywhere.
  • jonebonejonebone
    Not even gold necessarily, but cash will become king. If the bond market dislocates (bond yields passed 3.5% today which in turn caused the stock market to drop) then cold hard cash will triumph. Gold should go up as well, simply because the bond yield will keep increasing... then interest rates go up... then people can't affording housing... housing market tanks then cycle repeats and deflation will sit in.



    Hope it doesn't happen though, I really hope it doesn't.
  • arch_8ngelarch_8ngel
    Originally posted by: udisi

    not really, with the US printing fun money, buying foreign currency can be a great idea.


    You seem to think that the rest of the world isn't doing something similar.  Good luck with that.
  • antofarabiaantofarabia
    everyone is doing it ... i was just hoping some people could make some money placing the same positions as me ... i won't call a position if I won't put my money on it .... trade $1,000 = $10 gain/loss per penny change ... trade $10,000 = $100 gain/loss per penny change .... you are allowed up to a 400 to 1 margin but i don't recommend extending past a 10 to 1 unless you don't mind being risky www.xe.com ... i recommend forex micro ... only $25 to start and sometimes they will give you $25 so that you sign up so you essentially could be playing to gain extra money with no initial funds
  • antofarabiaantofarabia
    plus the barrier to entry is easier on the currency market than on the stock market
  • antofarabiaantofarabia
    sorry guys drop the AUD ... some really bad news ... plus you'll have made a slight bit of money on it right now if you bought earlier
  • gavmasterflashgavmasterflash
    I'm pissed off that the Korean won has been dropping recently due to a threat of war from the North. That would have been a great currency to buy before because at one point it was at over 1,500 for each dollar, and it came down by about 300 to over 1,200 per dollar. If the North weren't threatening and if the former president hadn't killed himself and people didn't blame the current regime for his death, as a result there may be massive political riots this week, then the strengethening of the won would have continued unabated to its normal level of about 1,000 to every dollar, thus anyone who bought it could have made a KILLING. However, this is the nature of currency trading, you cannot really foresee events like the ones just mentioned, and they all have impacts on the value of currency, good or bad, making it risky business.
  • gavmasterflashgavmasterflash
    BTW Ant, do you get all your stats and do your training at xe.com?
  • antofarabiaantofarabia
    anyway i just wanted to get some other people into this ... overall the AUD does have a great potential for a great long position ... if you want to make money i suggest waiting for the market to align the short/long positions and place your position accordingly ... no more posts from me on this :-P ... i am still holding my GBP position and a reverse short on the AUD as of this posting (though the AUD short sell will be closed within a few hours more than likely)
  • antofarabiaantofarabia
    nah i use fxcm micro trading ... very fun stuff
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