Quote:
Originally Posted by Slider
Clark, are you buying the GBP vs. the Euro or the other way around?
I was looking at buying the AUD, GBP, and Euro vs. the USD the other day but the swings are ****ing ridiculous. With 100-200x leverage, one stupid move could be busto city. To think poker players are gamblers.. My god.
The forex site I looked at was just like a poker site with CS asking you to deposit and a deposit now button. (Forex.com)
ive been selling the gb vs euro using a put warrant , ticker SU54 from societe generale, link
http://uk.warrants.com/services/quot...abel=GBP%2FEUR.
its a bit racey with a gearing of 6x (if the pound drops 1% my money goes up 6%) but its +67% over 1 week and +1008% up over 3 months. there are ob less risky ones. these are good products if u carry a big online roll and want to insure it/hedge it when you think things will go the wrong way for you
ie i got £25k in my ipoker acc which is getting decimated when i convert it to dollars and play on teh tables, so i hedged that shizz buy selling the £££££ in the currency markets
im not accumulating anymore as im maxed out with £15k in there but the research i have done indicates that it the £/euro will hit parity in next 2-3months, in which case you would still double your investment if u got in now
its risky though, but your losses are limited to your original investment, ie my 15k only. you have to be careful with forex trading and spread betting as with some products your losses are unlimited and big swings can wipe you out
"The next Monetary Policy Committee announcement from the Bank of England is due on 8th January, and we would not be at all surprised to see more downward pressure on sterling ahead of that date. "
"Speculators are now betting on the Bank of England following suit on interest rates, which means that sterling has continued to fall, notably against the euro, where the rate is now down to EU1.0760, and seemingly heading for parity."
Last edited by clarkatroid; 12-22-2008 at 10:28 AM.