I just opened a Forex currency trading account. I have been trading stocks and options for a number of years. I was thinking of moving into the Euro from the dollar because I am concerned about U.S. Dollar weakness moving forward but I see that the Euro is trading at 1.32 to the U.S. dollar now, that is nearly an all time high. Anyone here trade currencies? What currency is the best to buy right now?
2006-12-29 07:56:31 · 8 answers · asked by Mr. G. 2 in Business & Finance ➔ Investing
There are no commissions. I am somewhat familiar with currency markets and I was asking for opinions not condescending put downs so the first two answers are uncalled for.
2006-12-29 08:39:40 · update #1
If you have to ask, don't trade forex, you will be eaten alive.
2006-12-29 08:00:51 · answer #1 · answered by jewelking_2000 5 · 3⤊ 2⤋
Stay away from the Yuan...you're asking for trouble with the Chinese since that will always be a "pegged" currency (since the Chinese don't want to unpeg it for whatever sinister reasons they have). The Euro has nowhere to go but down from 1.32.
If it was me, I'd put it into the Yen instead.
I don't trade currencies, but a friend of mine does...he's got most of it in Yen.
2006-12-29 08:33:12 · answer #2 · answered by t_roe 3 · 2⤊ 1⤋
The best currency to trade is the Euro and the UK Sterling!
2006-12-29 10:09:07 · answer #3 · answered by Anonymous · 1⤊ 0⤋
1
2017-02-19 22:37:27 · answer #4 · answered by Jewel 4 · 0⤊ 0⤋
Knowledge of stocks and options does not imply proficiency in currency trading. Like the previous responder, I agree that if you have to ask, you're going to get eaten alive -- if not by the commissions then by the spread.
2006-12-29 08:05:42 · answer #5 · answered by trentrockport 5 · 1⤊ 2⤋
no body in the world know, just like no body predict 9-11
assume i am right
china currency rmb
canada it may go to 1 dollar us to 1 dollar canada
and euro
best of luck,,,
2006-12-29 08:27:10 · answer #6 · answered by albertt 1 · 1⤊ 1⤋
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2006-12-29 18:41:45 · answer #7 · answered by Anonymous · 0⤊ 0⤋
"The Economist" predicts that the Chinese Yuan is going to continue appreciating in value.
2006-12-29 08:30:37 · answer #8 · answered by Anonymous · 2⤊ 1⤋