Currency Tradering

Carbon_z · 12-02-2010, 01:55 PM

So, I'm looking to invest a little bit of money.. NOT IN A TT KIT EITHER

but rather in Currency tradering through forex.com. Wanted to see if anybody has any experience with this. I know its almost the same aspect as selling stocks but not exactly like it. Just wanted some tips while i study on it.

Jeffblue · 12-02-2010, 01:59 PM

Quote:

Originally Posted by billet370

So, I'm looking to invest a little bit of money.. NOT IN A TT KIT EITHER

but rather in Currency tradering through forex.com. Wanted to see if anybody has any experience with this. I know its almost the same aspect as selling stocks but not exactly like it. Just wanted some tips while i study on it.

i haven't really dabbled in FX trading yet, but there are a TON of factors involved. i'd highly recommend setting up a fantasy account, which you can do at forex.com and do that for a while and see how well you do, and do research and employ new strategies to ensure that your gains (hopefully) are coming from research and not luck, before you invest even a $

phelan · 12-02-2010, 02:11 PM

Oooof....ForEx is one of the most dangerous financial games to play right now. I'd stay with stocks if you want a bit of adventure in your financial investments, ForEx has a lot of variables to deal with, so you better know what's going on in the world, not only economically, but politically as well.

m4a1mustang · 12-02-2010, 02:13 PM

Fx trading is complicated. I would definitely start with some fake money first and try some different strategies and learn more about it. In the mean time, stick to mutual funds and stocks while you broaden your investment knowledge.

Carbon_z · 12-02-2010, 02:23 PM

yea I opened a fake account yesterday, 50grand. Its something thats interesting because you could particular invest in the Yen right now. Take dollar to yen...what for dollar to go back up and trade back for higher dollar earnings....Do I have somewhat of the correct aspect on this? IVe ordered a few books and hopefully within a few months or a year I can invest. Have a good amount of money set aside and i do not want to invest in stock market, CD's "********" or savings account. CD for 5 years on 40grand about 4 thousand return...**** THAT.

m4a1mustang · 12-02-2010, 02:29 PM

CD rates are so lousy right now. Unless you can get a teaser rate through a bank you are stuck with like .25% on a 6-month CD.

Jeffblue · 12-02-2010, 03:03 PM

Quote:

Originally Posted by billet370

yea I opened a fake account yesterday, 50grand. Its something thats interesting because you could particular invest in the Yen right now. Take dollar to yen...what for dollar to go back up and trade back for higher dollar earnings....Do I have somewhat of the correct aspect on this?

yea, thats basically how it works. except for the fact that the dollar isn't gaining any value. Quantitative easing just brings its value down further. Truthfully, i woudln't really mess with forex right now, especially when so many world powers are artificially controlling the value of their currency. When you look at how many political factors affect exchange rates and currency values, its really so scary. for example: Inflation is a natural phenomenon in economics, and we live under this notion that its supposed to be somewhere around 3%. However, deflation is also natural, but monetary policy is so heavily controlled, and the powers that be have determined that, no, deflation is not natural, so economic cycles aren't allowed to run their natural course, resulting in this seemingly 'normal' rate of inflation

couple all that with these stupid bailouts, and basically you come to the conclusion that almost nothing out there is valued at what it should be. Political forces have such a strong influence on the price of currency.

However, if you somehow know the next european/scandinavian country to get totally fucked financially, then by all means, short their currency. Oh and let me know which one, i'll happily join you. Oh, but then the IMF will bail them out so then what? basically, even the most LOGICAL play, doesn't make sense with all this political interference.

Carbon_z · 12-02-2010, 03:25 PM

yea these bailouts are destroying the market and sooner or later all currency is going to get jacked. I honestly think ONE DAY a global dollar is going to replace all of this. It will be the way all countries eliminate their debt and start fresh. Kinda like a bankruptcy lol. Bankruptcy is my specialty and if I have to advise anybody of it...it would be a few countries

m4a1mustang · 12-02-2010, 03:33 PM

Quote:

Originally Posted by billet370

yea these bailouts are destroying the market and sooner or later all currency is going to get jacked. I honestly think ONE DAY a global dollar is going to replace all of this. It will be the way all countries eliminate their debt and start fresh. Kinda like a bankruptcy lol. Bankruptcy is my specialty and if I have to advise anybody of it...it would be a few countries

No way. You see how well the Euro is working out?

Jeffblue · 12-02-2010, 03:34 PM

Quote:

Originally Posted by billet370

yea these bailouts are destroying the market and sooner or later all currency is going to get jacked. I honestly think ONE DAY a global dollar is going to replace all of this. It will be the way all countries eliminate their debt and start fresh. Kinda like a bankruptcy lol. Bankruptcy is my specialty and if I have to advise anybody of it...it would be a few countries

It's really just so artificial. with businesses and countries alike, sooner or later you just have to let the bad ones fail. what amazes me, is that all these banks which got bailed out have invested a huge amount of money in the recent IPO (take 2) of GM, which was also bailed out. So american tax dollars bail out a failing car maker. Then banks fail, they get bailed out by tax dollars. Then they come back and invest in the company that failed and got bailed out with tax dollars. seems kind of incestuous.

Carbon_z · 12-02-2010, 03:42 PM

dont get me started with bail out funds lol.... the companies that got bailed out have a temporary relief but if the consumer is the reason they were in a bailout opinion....the company will again begin to hurt. Just putting a NEW band ad on the same cut.

Instead the bailout should have gone to the people and they people should have brought those accounts current and then eliminate the date. GIVING the lenders a life line but still continuing having opened failed accounts is the STUPIDEST THING EVER> wtf.

12-02-2010, 01:55 PM	#1 (permalink)
Carbon_z A True Z Fanatic Join Date: Sep 2009 Location: Atlanta, GA Posts: 1,695 Drives: Carbon Fiber 370z Rep Power: 18	Currency Tradering So, I'm looking to invest a little bit of money.. NOT IN A TT KIT EITHER but rather in Currency tradering through forex.com. Wanted to see if anybody has any experience with this. I know its almost the same aspect as selling stocks but not exactly like it. Just wanted some tips while i study on it. __________________ Full Carbon Fiber Nissan 370z "400zTT" Fully Built 4.0L Twin Turbo 1300hp, 1100whp. Follow me on Instagram at http://www.instagram.com/carbonz.

12-02-2010, 02:11 PM	#3 (permalink)
phelan A True Z Fanatic Join Date: Apr 2009 Location: CA Age: 38 Posts: 9,513 Drives: Scoobaroo Rep Power: 3406	Oooof....ForEx is one of the most dangerous financial games to play right now. I'd stay with stocks if you want a bit of adventure in your financial investments, ForEx has a lot of variables to deal with, so you better know what's going on in the world, not only economically, but politically as well. __________________ 凛 ('Rin') - 2009 Nissan 370Z With silence comes peace. With peace comes freedom. With freedom comes silence.

12-02-2010, 02:13 PM	#4 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	Fx trading is complicated. I would definitely start with some fake money first and try some different strategies and learn more about it. In the mean time, stick to mutual funds and stocks while you broaden your investment knowledge. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

12-02-2010, 02:23 PM	#5 (permalink)
Carbon_z A True Z Fanatic Join Date: Sep 2009 Location: Atlanta, GA Posts: 1,695 Drives: Carbon Fiber 370z Rep Power: 18	yea I opened a fake account yesterday, 50grand. Its something thats interesting because you could particular invest in the Yen right now. Take dollar to yen...what for dollar to go back up and trade back for higher dollar earnings....Do I have somewhat of the correct aspect on this? IVe ordered a few books and hopefully within a few months or a year I can invest. Have a good amount of money set aside and i do not want to invest in stock market, CD's "******" or savings account. CD for 5 years on 40grand about 4 thousand return... THAT. __________________ Full Carbon Fiber Nissan 370z "400zTT" Fully Built 4.0L Twin Turbo 1300hp, 1100whp. Follow me on Instagram at** http://www.instagram.com/carbonz.

12-02-2010, 02:29 PM	#6 (permalink)
m4a1mustang A True Z Fanatic Join Date: Feb 2009 Location: Northern VA Posts: 55,385 Drives: on two wheels Rep Power: 6962	CD rates are so lousy right now. Unless you can get a teaser rate through a bank you are stuck with like .25% on a 6-month CD. __________________ - Steve Zs & Coffee - Saturdays at 10AM in Fairfax, VA and Columbia, MD (Click the banner!) LIKE us on Facebook!

12-02-2010, 03:25 PM	#8 (permalink)
Carbon_z A True Z Fanatic Join Date: Sep 2009 Location: Atlanta, GA Posts: 1,695 Drives: Carbon Fiber 370z Rep Power: 18	yea these bailouts are destroying the market and sooner or later all currency is going to get jacked. I honestly think ONE DAY a global dollar is going to replace all of this. It will be the way all countries eliminate their debt and start fresh. Kinda like a bankruptcy lol. Bankruptcy is my specialty and if I have to advise anybody of it...it would be a few countries __________________ Full Carbon Fiber Nissan 370z "400zTT" Fully Built 4.0L Twin Turbo 1300hp, 1100whp. Follow me on Instagram at http://www.instagram.com/carbonz.

12-02-2010, 03:42 PM	#11 (permalink)
Carbon_z A True Z Fanatic Join Date: Sep 2009 Location: Atlanta, GA Posts: 1,695 Drives: Carbon Fiber 370z Rep Power: 18	dont get me started with bail out funds lol.... the companies that got bailed out have a temporary relief but if the consumer is the reason they were in a bailout opinion....the company will again begin to hurt. Just putting a NEW band ad on the same cut. Instead the bailout should have gone to the people and they people should have brought those accounts current and then eliminate the date. GIVING the lenders a life line but still continuing having opened failed accounts is the STUPIDEST THING EVER> wtf. __________________ Full Carbon Fiber Nissan 370z "400zTT" Fully Built 4.0L Twin Turbo 1300hp, 1100whp. Follow me on Instagram at http://www.instagram.com/carbonz.