abner

I think rather you *assume* that I don't.

I haven't posted a peer-reviewed economic treatise on BE regarding currency cross-rate fluctuations, so you seem to have taken that as license to talk down to me, knowing nothing of my education, background, or experience.

Based on your recent post history, that's not an infrequent tack for you on this forum.

carcajou

No I don't.

I keep trying to bring this back to OP's original post, which are about the risks of a non-professional trader using his retirement pot to speculate in the AUD/GBP currency markets.

You keep going off on AUD/CAD cross-rates, Canada-US trade links, China, and Trump, which have absolutely nothing to do with what OP was asking about.

I maintain it is a bad idea for a mature-aged novice trader to put their retirement savings into currency speculation. Other funds, that can be lost without life-changing effect, should be used to get involved in the market.

Your money - and OPs - are your responsibility. Not mine.

abner

Which also has nothing useful to add as a response to the OP, particularly your assumption that the OP is a "novice trader".
Recognition of British understatement seems to be a lost art in the Antipodes.

carcajou

OP has posted extensively on his life. I don't recall anything about being a currency trader. In fact I recall (and this could be incorrect but I don't have time to go pouring through threads) he has been a stay-at-home father for some years. Nothing wrong with that but it puts the need for risk management in sharp focus. Even if he was and has taken a multi-year break - things have changed dramatically in the futures markets in the past 10 years.

I have always maintained a contrarian stance that futures markets are less risky than stock markets but it requires extraordinary psychological discipline. It is not for everyone. Even the best traders lose money on 7 out of every 10 trades, but they know how to limit their losses and let the profitable trades ride. An old book, but a classic, from the 1980s called "Way of the Turtle" highlights this. I think some of the people they brought in off the street are actually still trading today.

If he is an experienced trader than would already know how risky it is to put the retirement pot into currency speculation - and if a successful currency trader, would have other funds at his disposal to use instead?

abner

You didn't answer the OP's question. Instead, you basically told him he shouldn't be asking it.

So you simply know better than he does, about his own circumstances and potential decisions...?

carcajou

What I've said is one million percent standard advice. I would question both the competence and the ethics of any professional financial advisor who said it was a good idea for a novice trader with little offsetting income to throw their retirement savings into currency speculation.

abner

Straw man alert!!!
Whoop! Whoop! Whoop!

(I one million percent believe you would.)