UK Landlord Forum / Life

Has anyone ever done any currency trading to make money?

I'm tempted to buy some euros right now!

nope!

I'm definitely interested in this, and also seeing if something clever can be done with CFDs (not fx but still interesting).

As it happens, I ran across a "system" today called Millionnaire Mortgage Secrets (alarm bells ringing yet?) but I did a little digging and it seems its based on carry trading, to exploit low interest rates in foreign economies. Its mentioned on a forum here:

http://www.housepricecrash.co.uk/forum/index.php?s=b30b8092187056dbbfbdf8ad1fa265bd&showtopic=54228&pid=748618&st=0&

While simply using a loan in a foreign currency is fraught with risk, I'm sure you could hedge this somehow to take the currency risk out of the equation and just nab yourself a damn good rate. I've no idea right now how that would work exactly, but I'm fairly confident it could be done.


V

Hmmm...interesting.

I've only thought about currency trading this past week. I had 500 euros sitting in my room for 6 months. I've been too lazy to change it.

I was looking at currency rates the other day, and it turns out that if I change it into pounds (commission free), I would have made a nice little profit.

I mean, that's easy money, right?

Ah, but your investments can go down as well as up


Seriously for a moment, yes, I think there is definitely money to be made in currency trading. Like all investments, its about finding a way that minimizes commission, and balances risk against your own risk profile so you can feel comfortable about what you're doing and remain solvent.



V

Would you seriously put your money to float around in the European economy market hoping to get an exchange rate that suits?  I think to make cash this way you will need your ear to the ground and inside information, also someone who will be able to * launder* your money between economies.
Ok small scale the post office will do this for you, but I have a feeling it maybe a different ball game once you start to talk big bucks


Badger

Yes, I would.

It can either go up or down! It's simple!

Trading currency works as follows: The investor starts putting a certain amount of money at a particular rate and then decide to buy it back at a higher. Depending on the money invested, the gross profit can range from hundreds to thousands of dollars or more.