Like going to your local bank and exchange currencies?You can make alot of money if you have alot of cash and patience without worrying about daily flactuations like OTC currency trading.
Explain how.
Even if the bank didn’t charge a spread (which I assume but don’t know for sure that they do), I would much rather pay the spread than drive to the bank every time I want to place a trade. My time is worth a lot more than that.
Yea… you do pay for huge spreads:( but for an investor with alot of cash and patience can make alot of money.Some banks let you trade on line and take physical delivery at the branch.You can sell online again before you take delivery and they update their rates periodically on online(Not instant though).You could use long term charts and place long-term trades accordinly.
So, why would anybody wanna trade at a bank if the spreads are huge and everything else is the same? I guess if you wanted to take physical delivery of currency this would make sense, but who wants to do that besides money launderers and drug dealers?
I dunno… am I missing something?
Like going to your local bank and exchange currencies?You can make alot of money if you have alot of cash and patience without worrying about daily flactuations like OTC currency trading.
I don’t get it. Why does having physical possession of the cash not make you worry about daily fluctuations? I see no difference between this and regular forex trading.
Cause you don’t have to worry about margin calls or getting stopped out.
Cause you don’t have to worry about margin calls or getting stopped out.
I don’t worry about margin calls anyway. I’ve never had one, and I never will. Margin calls only happen to people that don’t understand money management. It’s not a fear that professional trades have so it’s not a reason to trade hard cash.
As for stop losses, whatever price you choose to trade your cash back in at is your take profit or stop loss level. The only difference is that you’re getting in a car and doing it at the bank rather than presetting it on a computer and letting the broker execute it.
This really is another bizarre thinking on a fx trading
forum. Like Phil below, I too never worry one bit
about margin calls, I never even get close to it
ever. I am always around free margin % of
3000%-7000% plus range.
Also, exchanging currencies at your local bank
is an tedious and appointment based ordeal.
Clearly, the person have never gone through
the process of exchanging currencies for
travel purposes. Most banks do not even
offer that service. And those that do, you
have to call in advance and tell them the
amount you want to exchange and give
them advance notice heads up. Even then,
they may say no.
And currency exchange of that nature is a
service, in addition to whatever exchange
rate you get, bank will also tack on a service
fee. Now, you can hop onto some international
airport that offers exchange services and do
it that way, but even they have limits. You
cannot walk in and tell them you want to
exchange $50,000 for British Sterling. I
don’t understand this type of thinking in the
first place. People always scheming with
bizarre thinking while ignore the whole purpose
here. Learning to trade fx currencies to make
money, not to get physical deliveries of it.
You cannot make money by exchanging
currencies at a bank. That is a heavy fee
service they may or may not choose to
offer to you even if you give them advanced
notice.
Are you trying to show us another way to trade money better than working from the house, with all the tools, computer and information available? It is the same principle but you�ll need as you say lot of cash, patience which also means time in a queue� I don�t know. Don�t you like this way to trade?
It was just a thought…Cause everytime i withdraw money from my FX acc to my bank acc i get nice additional profit cause rates difference between USD&CAD.I was also thinking like gold bugs that buy physicals for long-term intead of trading futures.
I believe is all matter of having a profitable perspective, and not just looking to manage less effort on gaining more money. If you are the kind of person who wants to be involved on your investments and learn more and more everyday about financial and economic panorama on the entire world, then Forex is the answer. If not go to the bank and stare the clock to see your profits.
Oh my… I don’t even know where to begin on this one… so I won’t…
Different strokes for different folks.
Funny!
I guess it would be a good way to keep a strict 1:1 leverage at all times.
That’s exactly what i was thinking,sometimes the extra money i earn on profit from exchange rate differentials is like trading 1 mini lot and gaining over 100 pips.
P.S Exchange rate differentials on large amount of money can help or break big multi-national corporation earnings.
I would think that the customer, small traders, wouldn’t benefit from the price fluctuations of the market in this scenario. Every time I travel overseas the banks and foreign exchanges offer daily exchange rates. I have never seen one offer real time rates. You pay the same rate during a 24 hr period regardless of price fluctuation. Me thinks that this is why the spread is so wide. To cover daily fluctuations in price.
Even though spreads might be a bad thing sometimes when you trade, and about the daily fluctuation as well, you will always have the choice of the pair, you always have the power to decide going on a trade if it has a low spread, you can also use tools like spread filters to avoid wide spreads. The matter here is not about the benefit you get when trading on Forex or putting you money on a bank, is actually how good you are at it, and Forex unlike a bank gives you the opportunity to improve and become the successful trader you want to become.
Bizarre thinking? Probably, but why not?. Just evaluate your options this is all about. I have found myself interested on investing commodities and futures. If he believes a bank is a better option that a good and intense trade, go ahead.
Bizarre and pointless thinkiing; yes!
It is also a very unprofitable fruitless
scheme that will not work in any shape
or form. I see time and time again
that most people in here have no
interest in giving useful opinion or
advice to anyone.
Coming from you, I find the irony in this comment quite humorous.
U think that thought is bizzare,pointless thinking and very unprofitable fruitless scheme?I look at most post on this forum and i laugh at how unsophisicated and clueless many people are on this board.Most people wanna come up or build a profitable trading system like they are ROBOTS!
I guess my thought wasn’t about charts, trading signals or me complaing about how hard forex is.I wish most of you were on stocks and futures trading boards asking about trading signals and systems you would be laughed at.Do you know how some countries and banks with debt in other currencies are struggling because of exchange rate differentials? You want usefull opinion? why don’t u use EEfing common sense and just trade forex instead of dreaming of becoming rich with stupid trading systems.
Hehe…
The blind leading the blind while shouting at the deaf to get out of the way.