Ash1

Hi guys,


been thinking of doing this for a while now but aren`t stupid enough to think that just because i`ve watched the rates over the past 2.5 years that i can second guess its movements. Do any of you guys " play the currencies" , if so who would you recommend me setting up an account with bearing in mind i shall only be starting with smallish amounts until I feel a little braver!
Thanks in advance
Ash

sparkie down under

woooooow!

BEVS

If you are really very brave then I would suggest you ask this in The Lounge & see who tells you what .

Ash1

Sorry, excuse my ignorance but where is "the lounge" and why did i get a woooooow?

Am Loolah

You are excused ...

The Lounge can be found here - http://britishexpats.com/forum/forumdisplay.php?f=7 just post a new thread in there and sit back and see!

I know Jif and Matt are doing a similar thing so you could try asking them? (Not together mind ...!)

And you always get a "Wow" from me Gawgus!

Dave1892

My advice is don't play it. even the professionals can lose substantial amounts. There are factors that we cannot even imagine never mind factor into any (dodgy) equation. Whether you win or lose will be purely down to luck. I know a couple of people who have played this game (in both instances living in Spain who have exchanged large numbers of Euros into £s), got it right the first couple of times by luck rather than judgement, and then convinced themselves they are the worlds greatest currency traders, both have gone on to substantial paper losses and have waited nearly two years (and are still waiting) to liquidate their cash back into the currency they actually need.

If you're going to do it only gamble what you can afford and have a bit of fun with it. We're all sitting here thinking that the £ will never fall to $2 or never rise to $3.5 but in the current economic climate can you be absolutely sure? Who would have thought two years ago that the £ to euro would head towards parity with the £.