Anyone Been doing Foreign Currency??

cheapchinese · 12-05-2003, 04:29 AM

Just something to throw out to you guys
Our company have been positioning ourselves that the china currecny RMB will rise (obviously)~

I was talking with the department.. they started with Yen.. waited.. sold to buy Euro, and sold to buy U.S heard they got 30% return just this year~~ (damn~!!!)

so.. pretty much asking is anyone good at this?
I just heard so much stories about this, kinda want to know more about it before i go in

nomoney · 12-16-2003, 10:41 PM

I was talking to someone at work about this. He made quite a bit with foreign currency and was saying he thinks the dollar is still gonna slide. We shall see. I am definately going to look into it more.

Merlin · 12-17-2003, 06:48 AM

Quote:

Originally posted by PsillyPyro
...he thinks the dollar is still gonna slide...

I do a lot of work in foreign currency and I would agree.

cheapchinese · 12-17-2003, 06:53 AM

against what though?
yen, euro??

btw ... i heard hk would be the only city that would be granted by china to do the china yuan.
how do i buy china yuan??? everyone knows its going to elevate soon now

Merlin · 12-17-2003, 07:09 AM

I mainly focus on the pound and the Aussie dollar. The pound probably won't give you as much as other currencies and the A$ has already moved rather dramatically so who know there.

As for playing China, I don't really know, but I'd like to. Like yourself, I'd like to play that one.

cheapchinese · 12-17-2003, 07:22 AM

ausie really made a big run, but.. its hard to see it continue (but i might be wrong)

i remember it has something to do with their export of raw materials to china, that boasted their economy. (metal, wood)

i was never into pounds..
and i am still impressed with the New Zealand run this summer.

I'll try to find out on the China's foreign exchange, but i don't think it'll be day trading, probably.. a buy and hold assest, but if anyone does know ... share the wealth man...

i'm sorta leaning towards korean money right now... seem like they are ready to have a run.. large export surplus, business contiune to be growing...etc

nomoney · 12-17-2003, 10:05 AM

So lets say I wanted to buy $10k worth of Aussie cash. How the heck would I do that?

Merlin · 12-17-2003, 10:43 AM

Check with your broker and see if he has a foreign exchange department. That is the easy way. Aside from that I'd say open a bank account there and see about wire transferring the money. Once there they will hold it in local currency.

cheapchinese · 12-18-2003, 10:19 AM

Quote:

Originally posted by PsillyPyro
So lets say I wanted to buy $10k worth of Aussie cash. How the heck would I do that?

are you talking about day trade?

nomoney · 12-18-2003, 10:20 AM

Quote:

Originally posted by cheapchinese

are you talking about day trade?

If by "day trade" you are talking about trading through an online brokerage .... yes.

zippyjuan · 12-19-2003, 02:02 AM

The Fed is keeping US interest rates low while European countries are seeing theirs rise somewhat. This is causing a growing exedus to foreign investments by people seeking higher returns on capital than they can find here. This is causing the dollar to fall against many foreign currencies. The Fed will not fight this trend by raising rates since this makes US goods less expensive to foreigners and their goods more expensive here which will help stimulate our economy. I do not see any reason for this trend to not continue in the near future.

cheapchinese · 12-19-2003, 05:09 PM

when inflation goes too high.. and the cash value of you paycheck drops...zippy...
is when the trend will stop

12-05-2003, 04:29 AM	#1
cheapchinese I love free! Join Date: Apr 2003 Location: LA, California Posts: 2,976	Anyone Been doing Foreign Currency?? Just something to throw out to you guys Our company have been positioning ourselves that the china currecny RMB will rise (obviously)~ I was talking with the department.. they started with Yen.. waited.. sold to buy Euro, and sold to buy U.S heard they got 30% return just this year~~ (damn~!!!) so.. pretty much asking is anyone good at this? I just heard so much stories about this, kinda want to know more about it before i go in

12-19-2003, 02:02 AM	#11
zippyjuan Picture of the Day Guru Join Date: Oct 2002 Location: Sunny San Diego Posts: 8,070	The Fed is keeping US interest rates low while European countries are seeing theirs rise somewhat. This is causing a growing exedus to foreign investments by people seeking higher returns on capital than they can find here. This is causing the dollar to fall against many foreign currencies. The Fed will not fight this trend by raising rates since this makes US goods less expensive to foreigners and their goods more expensive here which will help stimulate our economy. I do not see any reason for this trend to not continue in the near future. __________________ I add new pictures to my photo gallery pretty regularly. You can see them here if you are interested: http://www.pbase.com/jeffryz

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12-16-2003, 10:41 PM	#2
nomoney Lieutenant Join Date: Dec 2000 Posts: 493	I was talking to someone at work about this. He made quite a bit with foreign currency and was saying he thinks the dollar is still gonna slide. We shall see. I am definately going to look into it more.

12-17-2003, 06:53 AM	#4
cheapchinese I love free! Join Date: Apr 2003 Location: LA, California Posts: 2,976	against what though? yen, euro?? btw ... i heard hk would be the only city that would be granted by china to do the china yuan. how do i buy china yuan??? everyone knows its going to elevate soon now

12-17-2003, 07:09 AM	#5
Merlin Admiral Join Date: Dec 2001 Location: Square On My Arse Posts: 7,410	I mainly focus on the pound and the Aussie dollar. The pound probably won't give you as much as other currencies and the A$ has already moved rather dramatically so who know there. As for playing China, I don't really know, but I'd like to. Like yourself, I'd like to play that one.

12-17-2003, 07:22 AM	#6
cheapchinese I love free! Join Date: Apr 2003 Location: LA, California Posts: 2,976	ausie really made a big run, but.. its hard to see it continue (but i might be wrong) i remember it has something to do with their export of raw materials to china, that boasted their economy. (metal, wood) i was never into pounds.. and i am still impressed with the New Zealand run this summer. I'll try to find out on the China's foreign exchange, but i don't think it'll be day trading, probably.. a buy and hold assest, but if anyone does know ... share the wealth man... i'm sorta leaning towards korean money right now... seem like they are ready to have a run.. large export surplus, business contiune to be growing...etc

12-17-2003, 10:05 AM	#7
nomoney Lieutenant Join Date: Dec 2000 Posts: 493	So lets say I wanted to buy $10k worth of Aussie cash. How the heck would I do that?

12-17-2003, 10:43 AM	#8
Merlin Admiral Join Date: Dec 2001 Location: Square On My Arse Posts: 7,410	Check with your broker and see if he has a foreign exchange department. That is the easy way. Aside from that I'd say open a bank account there and see about wire transferring the money. Once there they will hold it in local currency.

12-19-2003, 05:09 PM	#12
cheapchinese I love free! Join Date: Apr 2003 Location: LA, California Posts: 2,976	when inflation goes too high.. and the cash value of you paycheck drops...zippy... is when the trend will stop

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