“HOLDING” actual currencies is not the same thing as holding a “CURRENCY PAIR”? Is it?. I have a multi currency account with various foreign currencies in it. However i am having a hard time being profitable. It seems the most i can do is use a currency converter and watch the values go up and down and be strategic with my currency choices.
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Holding different currenies in your account is not a forex trading. Actually I cannot imagine how you could gain with it.
Another thing is forex trading. you may buy and sell one pair several times per day and could gain and income could be amazing.
For example today at 9:00 AM CET (7:00 AM GMT) EURUSD pair jumped 120 pips within a hour and then in next 2 hours moved up 23 pips else.
Just count. If you bought 10 lots at 1.2965 and sold at 1.3085. For 10 lots 1 pip is equal to $100) then you earned $100×120=$12000 in a hour. Margin requiremets about $6500 if leverage 1:200 or about $13000 if leverage 1:100. What if you would take all 143 pips?
I pay to my investors at least 5% monthly (usually much more) for 12 month.
Comment by VP — February 9, 2010 @ 12:33 pm
You are not holding currency pair..What you are doing is selling one currency and buying the equivalent amount of other currency..
Get more details at -http://the-forex-trading.blogspot.com
Comment by football gifts — February 9, 2010 @ 12:33 pm
Hi Westphalia1,
The Forex market can be very tough especially if your trying to use a guessing strategy since there’s no way to really predict movement in the market. In fact 95% of people that invest in the Forex end up loosing all they’re money within the first 60 days. So if you looking for a system that takes the guesswork out of trading on the Forex and tells you exactly what to trade, how many lots to purchase, and where to set your buy and sell points you should check out http://www.smartforexinvestor.com. If you have any questions feel free to call or email me and I’ll look forward to speaking with you soon.
Best Regards,
Yo Fujikawa
Ph: 1-800-670-2683
Comment by family guy free — February 9, 2010 @ 12:34 pm