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Foreign Exchange?

Discussion in 'General Business' started by Discreet, Oct 5, 2005.

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  1. #1
    Has anybody tried the foreign exchange market where you buy/sell currency groups?

    I thought about dropping $200 into one of the trading systems and see how my luck fares, but would be interested in talking to people who've used it before.
     
    Discreet, Oct 5, 2005 IP
  2. Johnburk

    Johnburk Peon

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    #2
    I know someone who makes a living from it. Its only intressting when its about big bucks.

    For example. In April 2005 1 euro was about 1.31 USD. If you sold 500.000 euro and got around 655.000 USD (excluding transaction fees).

    Last week you could sell the 655.000 USD and get 550.000 Euro becase the exchange rate was 1.19.

    So in 6 months you would make 50.000 euro, for 2 hours work. Or an 10% return on investment within 6 months. If your money would sleep in a bank, you would get an maximum of 2.7% for 6 months.

    This is only looking at exchange rate and now at investing forign money in a county.
     
    Johnburk, Oct 5, 2005 IP
  3. diamond008

    diamond008 Peon

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    #3
    I like australia dollar, it's interest rate is 4.6%.
     
    diamond008, Oct 6, 2005 IP