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Old Sep 4th 2009, 10:45 pm   #91
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Default Re: 1.93's A$ to the Pound!!!

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How easy is it to make a living out of currency trading?
Buying currency/selling currency everyday/week etc.
Cos looking at the trend for the EURO/AUD over the last few months, I could make a few hundred quid a week!
it is very very hard!

Looking at what happened is very easy as hindsight is a wonderful thing but when you try trade real time its basically like tossing a coin!

I traded £ to go up at 1.96 thinking it would bottom there, today back into 1.92's and i'd be £thousands down if sold now. So risky business!

i will hold on tho as markets up and down!
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Old Sep 4th 2009, 11:10 pm   #92
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Default Re: 1.93's A$ to the Pound!!!

Cheers for that guys,
I was just wondering, cos when I check EURO/AUD daily there is a nice amount of movement in the PIP department times 1 thousand.
Also how the hell then do the brokers make their money it they don't charge for any transaction over 3k?
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Old Sep 4th 2009, 11:14 pm   #93
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Default Re: 1.93's A$ to the Pound!!!

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Cheers for that guys,
I was just wondering, cos when I check EURO/AUD daily there is a nice amount of movement in the PIP department times 1 thousand.
Also how the hell then do the brokers make their money it they don't charge for any transaction over 3k?
The spread between the buying price and selling price. If the rate is 1.93 then they will sell pounds (i.e. customer buys pounds) for 1.94 and sell dollars for 1.92. (For example)
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Old Sep 4th 2009, 11:18 pm   #94
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Default Re: 1.93's A$ to the Pound!!!

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Cheers for that guys,
I was just wondering, cos when I check EURO/AUD daily there is a nice amount of movement in the PIP department times 1 thousand.
Also how the hell then do the brokers make their money it they don't charge for any transaction over 3k?
they make profit on the spread.

that's the difference in pips between rate you get from them and actual rate they interbank at.

eg: you may be offered 1.9200 a$ to £ today but they change at 1.9250

the 0.0050 x number of £'s exchanged is their profit.
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Old Sep 4th 2009, 11:38 pm   #95
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Default Re: 1.93's A$ to the Pound!!!

Nice one guys, so again I will ask...can you do this competently yourself?
Have access to the live markets and become your own broker?
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Old Sep 8th 2009, 8:25 pm   #96
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Default Re: 1.93's A$ to the Pound!!!

I wonder how many retirement plans are being changed because of these rates?. Those already here on a UK pension will be watching it go down while at the same time the value of their Australian assets will be rising against the UK pound. If rates stay at anything like these levels in the medium term then selling up and moving back to the UK must be looking more attractive.
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Old Sep 8th 2009, 8:51 pm   #97
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Default Re: 1.93's A$ to the Pound!!!

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I wonder how many retirement plans are being changed because of these rates?. Those already here on a UK pension will be watching it go down while at the same time the value of their Australian assets will be rising against the UK pound. If rates stay at anything like these levels in the medium term then selling up and moving back to the UK must be looking more attractive.
What about the fact that you would be moving back to a country on its economic knees ?


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Old Sep 8th 2009, 8:54 pm   #98
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Default Re: 1.93's A$ to the Pound!!!

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What about the fact that you would be moving back to a country on its economic knees ?


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You would be moving back as a retiree, so employment is hardly an issue is it?
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Old Sep 8th 2009, 11:39 pm   #99
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Default Re: 1.93's A$ to the Pound!!!

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I wonder how many retirement plans are being changed because of these rates?. Those already here on a UK pension will be watching it go down while at the same time the value of their Australian assets will be rising against the UK pound. If rates stay at anything like these levels in the medium term then selling up and moving back to the UK must be looking more attractive.
I hear what you are saying. We have no plans to move but had a look at what we could buy in Europe if we sold our house here at the current exchange rate - we also have no mortgage. For the UK, I was pleasantly surprised with what we could get, start looking at France, Spain, Italy, Portugal etc and the choices are unbelievable. We could get much more in all of those countries than we could 5 years ago.

Definitely food for thought.
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Old Sep 9th 2009, 12:40 am   #100
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Default Re: 1.93's A$ to the Pound!!!

Why would anyone move back just to make a few quid!

Are you not happy in OZ?
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Old Sep 9th 2009, 1:05 am   #101
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Default Re: 1.93's A$ to the Pound!!!

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Why would anyone move back just to make a few quid!

Are you not happy in OZ?
Just to make a few quid?!

We are talking about people who most likely would be on fairly fixed incomes wondering if it would be a smart move to return to Europe and improve the value of that fixed income enormously.. if you don't think that's something to consider then you are probably a long way from retirement.
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Old Sep 9th 2009, 1:06 am   #102
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Default Re: 1.93's A$ to the Pound!!!

Move back to the UK as a retiree.
Make a few quid, live back in the dull, dark, long winters.
As a retiree, living off investments at 0.5% interest rates.

Leaving behind all the things you came to Aus for and going back to all the things you left for

Just for a few quid


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Old Sep 9th 2009, 1:08 am   #103
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Default Re: 1.93's A$ to the Pound!!!

On Sunday some friends told us that their parents who live in Mandurah are going back to the UK because they are on a UK pension and can't afford to live here any more. It's a real shame.
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Old Sep 9th 2009, 1:13 am   #104
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On Sunday some friends told us that their parents who live in Mandurah are going back to the UK because they are on a UK pension and can't afford to live here any more. It's a real shame.
My point exactly. Long term pensioners here in Oz are seeing the value of payments from the UK slashed. Even if I remain here until I retire, the bulk of my pension contributions, in years at least, will be coming from the UK and the value of that will be an issue at retirement.
If, say over the next decade, the Oz dollar and UK pound move closer and closer to parity I would be a bloody fool to stay here in Oz.
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Old Sep 9th 2009, 1:16 am   #105
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Default Re: 1.93's A$ to the Pound!!!

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My point exactly. Long term pensioners here in Oz are seeing the value of payments from the UK slashed. Even if I remain here until I retire, the bulk of my pension contributions, in years at least, will be coming from the UK and the value of that will be an issue at retirement.
If, say over the next decade, the Oz dollar and UK pound move closer and closer to parity I would be a bloody fool to stay here in Oz.
True, if it was the choice of scraping a meagre living in a caravan with bogan neighbours on a frozen UK pension or living in a nice villa in Spain with a pension that is indexed I'd go to Spain any day
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