£ v NZ$
Jan 12th 2015, 7:51 pm
#31
BE Forum Addict
Joined: Aug 2012
Posts: 1,213
Re: £ v NZ$
Definitely not an easy or quick win kind of exercise.
To make serious money off of it you'd need hundreds of thousands or more and if that was ones main investment pool then I'd suggest they invest that elsewhere.
My projections are starting with $20k and maybe making $2k to $3k on it in the first year - so it's hardly going to lead to early retirement
But as I say, that's a better rate than any fixed rate bond for $20k for 12 months and frankly more fun!
To make serious money off of it you'd need hundreds of thousands or more and if that was ones main investment pool then I'd suggest they invest that elsewhere.
My projections are starting with $20k and maybe making $2k to $3k on it in the first year - so it's hardly going to lead to early retirement
But as I say, that's a better rate than any fixed rate bond for $20k for 12 months and frankly more fun!
Jan 12th 2015, 8:22 pm
#32
BE Forum Addict
Joined: Jan 2009
Location: South Auckland
Posts: 2,228
Re: £ v NZ$
Definitely not an easy or quick win kind of exercise.
To make serious money off of it you'd need hundreds of thousands or more and if that was ones main investment pool then I'd suggest they invest that elsewhere.
My projections are starting with $20k and maybe making $2k to $3k on it in the first year - so it's hardly going to lead to early retirement
But as I say, that's a better rate than any fixed rate bond for $20k for 12 months and frankly more fun!
To make serious money off of it you'd need hundreds of thousands or more and if that was ones main investment pool then I'd suggest they invest that elsewhere.
My projections are starting with $20k and maybe making $2k to $3k on it in the first year - so it's hardly going to lead to early retirement
But as I say, that's a better rate than any fixed rate bond for $20k for 12 months and frankly more fun!
Jan 15th 2015, 12:48 am
#33
BE Forum Addict
Joined: Aug 2012
Posts: 1,213
Re: £ v NZ$
I assume it the announcement of today's plans to prune interest rate has meant that the dollar has moved backwards in the past week.
If it gets there and depending on how it's doing at the time I'm going to transfer some £'s into 4's at $2.04-$2.05 / 48.78p - 49.02p.
If it gets there and depending on how it's doing at the time I'm going to transfer some £'s into 4's at $2.04-$2.05 / 48.78p - 49.02p.
Jan 15th 2015, 3:34 pm
#34
Just Joined
Joined: Jan 2015
Posts: 15
Re: £ v NZ$
"Failure" in trading is easily quantifiable - either you make money, you lose money or you break even. There is no "he/she's a good trader" if it doesn't reflect in the P/L. Unlike something qualitative, where someone can be an excellent writer, actor or singer, but not be making any money out of it, trading success/failure is purely quantitative.
If people are moving physical money and are worried about exchange rate fluctuations, then it is possible to hedge this by taking an options position or just buying/selling futures against the 'physical' trade they have done.
Trading forex is purely speculative, and should not be confused with 'investment' of any sort. When starting out, one of the first questions to ask yourself is about margin. Margin is required for futures positions, and reflects the level of risk associated with the trade. Unlike stocks where if you buy at $100 and it goes to 0 you lose $100, when trading futures there is unlimited loss - you are buying/selling a margined position, which differs from buying a share in a company. There is good money to be made in forex trading, but traders have to learn how to manage their risk and how to get out of bad trades - remember, it's easy to put on a good trade, it's how you get out of your bad trades that defines whether you make money or not!
Oh, and I know I haven't introduced myself, but I will, promise
Best to everyone and thank you for a very informative forum.
C
If people are moving physical money and are worried about exchange rate fluctuations, then it is possible to hedge this by taking an options position or just buying/selling futures against the 'physical' trade they have done.
Trading forex is purely speculative, and should not be confused with 'investment' of any sort. When starting out, one of the first questions to ask yourself is about margin. Margin is required for futures positions, and reflects the level of risk associated with the trade. Unlike stocks where if you buy at $100 and it goes to 0 you lose $100, when trading futures there is unlimited loss - you are buying/selling a margined position, which differs from buying a share in a company. There is good money to be made in forex trading, but traders have to learn how to manage their risk and how to get out of bad trades - remember, it's easy to put on a good trade, it's how you get out of your bad trades that defines whether you make money or not!
Oh, and I know I haven't introduced myself, but I will, promise
Best to everyone and thank you for a very informative forum.
C
Jan 15th 2015, 8:10 pm
#35
BE Enthusiast
Joined: Nov 2010
Location: Was Auckland-NZ, Now Wales
Posts: 685
Re: £ v NZ$
Definitely not an easy or quick win kind of exercise.
To make serious money off of it you'd need hundreds of thousands or more and if that was ones main investment pool then I'd suggest they invest that elsewhere.
My projections are starting with $20k and maybe making $2k to $3k on it in the first year - so it's hardly going to lead to early retirement
But as I say, that's a better rate than any fixed rate bond for $20k for 12 months and frankly more fun!
To make serious money off of it you'd need hundreds of thousands or more and if that was ones main investment pool then I'd suggest they invest that elsewhere.
My projections are starting with $20k and maybe making $2k to $3k on it in the first year - so it's hardly going to lead to early retirement
But as I say, that's a better rate than any fixed rate bond for $20k for 12 months and frankly more fun!
Jan 15th 2015, 10:54 pm
#37
BE Forum Addict
Joined: Jan 2009
Location: South Auckland
Posts: 2,228
Re: £ v NZ$
People should be aware of the risks of forex. Huge losses today via some brokers (one gone bust, more to follow?). Most brokers have suspended trading in the Swiss Franc. Exciting stuff to watch from the sidelines if you haven't lost the shirt off your back:
Swiss National Bank abandons EUR/CHF 1.20 floor - 7 storylines | ForexLive
Swiss National Bank abandons EUR/CHF 1.20 floor - 7 storylines | ForexLive
Jan 16th 2015, 12:11 am
#38
Just Joined
Joined: Jul 2011
Posts: 8
Re: £ v NZ$
with losses, there are always those making money, there were also alot of winners yesterday!
Jan 31st 2015, 10:43 am
#40
BE Forum Addict
Joined: Jan 2007
Location: Hawkes Bay
Posts: 1,303
Re: £ v NZ$
Get your money transferred in 2p's 
Jan 31st 2015, 9:00 pm
#41
Forum Regular
Joined: Jun 2010
Location: Kapiti Coast
Posts: 297
Re: £ v NZ$
1 gbp is 2.08 nzd at moment.
Feb 16th 2015, 2:32 am
#42
BE Forum Addict
Joined: Aug 2012
Posts: 1,213
Re: £ v NZ$
Yeah, I cashed up some NZD's while I was in the UK during the last week of January.
Pretty handy I was there so I could just walk into Natwest and sign the money over, rather than doing it piecemeal over the internet.
What's more it's all worked out well because we won a house at auction yesterday, so all very good timing!!
Further to that we don't need to settle until on or before the 28th of May, so might sit on it for a bit while the interest rates drop.
Good times!
Pretty handy I was there so I could just walk into Natwest and sign the money over, rather than doing it piecemeal over the internet.
What's more it's all worked out well because we won a house at auction yesterday, so all very good timing!!
Further to that we don't need to settle until on or before the 28th of May, so might sit on it for a bit while the interest rates drop.
Good times!
Feb 16th 2015, 2:56 am
#43
BE Enthusiast
Joined: May 2007
Location: Western Sydney For Now
Posts: 434
Re: £ v NZ$
Yeah, I cashed up some NZD's while I was in the UK during the last week of January.
Pretty handy I was there so I could just walk into Natwest and sign the money over, rather than doing it piecemeal over the internet.
What's more it's all worked out well because we won a house at auction yesterday, so all very good timing!!
Further to that we don't need to settle until on or before the 28th of May, so might sit on it for a bit while the interest rates drop.
Good times!
Pretty handy I was there so I could just walk into Natwest and sign the money over, rather than doing it piecemeal over the internet.
What's more it's all worked out well because we won a house at auction yesterday, so all very good timing!!
Further to that we don't need to settle until on or before the 28th of May, so might sit on it for a bit while the interest rates drop.
Good times!
