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Thread: Trading currency

  1. #1
    sessik86
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    Default Trading currency

    I received $50 in free money on forex. I started playing around and in 2 days I was up to $70. This may not sound a lot but percentage wise it's pretty good. I am thinking about adding more money to it but my gains on there was just pure luck. I have no clue what I am doing. Has anyone invested money on one of these sites have any advice and percentage gains or losses they have incurred? Any feedback would be beneficial.

  2. #2
    Banned Melonie's Avatar
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    Default Re: Trading currency

    I do some currency investing, but via ETF's not currency futures contracts. I made out very well with FXF ( long Swiss Franc ) over the past few years right up to the point where the Swiss National Bank recently changed their official policy and de-facto pegged the SF to the Euro last August. I'll admit that I wound up taking a 10% 'haircut' before I could exit the position, but since I was up well over 50% to begin with it was still a winning trade. The reason that I stick with ETF's is that I can ride out temporary downside spikes without facing potential margin calls / forced liquidations.

    Due to the degree of 'leverage' involved, IMHO trading currency futures contracts is 'gambling' ... and 'gambling' in an area where gov't policy decisions routinely override market forces. Right now, the relative valuations of the US $ vs Euro vs Yen are all revolving around 'safe haven' versus 'risk on' developments regarding the EuroZone bailout, and which 'central banks' are willing to intervene ( as the US Fed indirectly did today ). And right now, 'commodity based' currencies like the Aussie and the Loonie are feeling the secondary effect of 'risk on' investor rotations into commodities ( oil again over $100, precious metals up big time ).



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