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Recommended currency for trading account?

k4y (KayS)
Aug 16 2012 at 22:05
posts 63
Hi folks,

If you have deeper long-term fundamental knowledge, I'd like to hear your recommendation for what currency one should hold his trading account in these days.

My broker offers the following currencies for trading accounts: AUD, USD, EUR, GBP, NZD, JPY, CHF, SGD.

Until now I held my account in EUR but I'm afraid my capital will further loose value due to the continuing euro crisis.

I thought about CHF or JPY. What do you think about these two? In case of a Euro crash, would CHF be negatively affected or not?

Thanks.

Kay

James_Bond
Aug 17 2012 at 09:45
posts 556
Obviously Euro and USD are the top 2 choices, so at this point I would go with USD. However, if USD would crash also, I'm not sure which way to go as then the effect on the other currencies would be probably very drastic.

stevewalker
stevewalker
Aug 17 2012 at 09:48
posts 1439
stay at the actual one. EURO.

it has laready lost. but nothing lost forever. it will return at some point. and when if you changed to another you will loose also at that one.

hope I am clear

walker.


Dimensioner (Dimensi)
Aug 17 2012 at 10:50
posts 48
i only like GBP. its perfect for me

stevewalker
stevewalker
Aug 17 2012 at 11:01
posts 1439
you think EURO will gone.😀😀😀😀

then what will happen to USD or other currencies.
do you think when if EURO or USD collapse World be the same

walker

PureMuscle posted:
stevewalker posted:
stay at the actual one. EURO.

it has laready lost. but nothing lost forever. it will return at some point. and when if you changed to another you will loose also at that one.

hope I am clear

walker.



That isn't very reassuring advice... The difference between the Euro and other currencies is that there IS the possibility of it disappearing forever. You won't find that with USD, or most other currencies for that matter.

stevewalker
stevewalker
Aug 17 2012 at 11:42
posts 1439
what will happen to USD when China stop buying US Tressury Bonds ( US has >10 trillion $ debt )

there is always risk on any curr.

if you are not speculator always stay your home currency ( spending currency )

if you spend by USD stay at USD if you spend in EURO stay in EURO ...................

walker

James_Bond
Aug 17 2012 at 12:25
posts 556
If the support breaks, I would stick with USD:



Fichiers joints:


stevewalker
stevewalker
Aug 17 2012 at 12:37
posts 1439
guys

it we are talking about trading, yes I would do the same as James advised.

but if a trader can not even make profit to cover his fund losses due to curr then why trade?

walker

SaltyWaters
Aug 17 2012 at 16:39
posts 247
stevewalker
stevewalker
Aug 17 2012 at 16:45
posts 1439
surprised that you are stil at spain case.

market already talking about German growth


SaltyWaters posted:
If the euro goes the usd may go too and so most of the others if not all.

https://gainspainscapital.com/2012/08/06/why-europe-matters-and-how-spain-could-wipe-out-your-401k/

SaltyWaters
Aug 17 2012 at 16:50
posts 247
Things are not solved yet, even though they may want you to believe it that way.

stevewalker
stevewalker
Aug 17 2012 at 16:54
posts 1439
spain is peanut.
see what will happen when german growth drop.

on the other hand the biggest problem is US with > 10 trillion $ debt.
dont forget this crises started from US banks.

walker

SaltyWaters posted:
Things are not solved yet, even though they may want you to believe it that way.

SaltyWaters
Aug 17 2012 at 17:02
posts 247
Spain is peanuts but according to the guy who wrote this article on August 6, 2012 - not me I'm not a market analyst 😄

'Spain could potentially take down the banking system in Europe, which would mean the US facing a Financial Crisis at least on par with 2008.'

In any case I still believe the best place to put your money at the moment is 'land'



Cheers.

stevewalker
stevewalker
Aug 17 2012 at 17:05
posts 1439
'In any case I still believe the best place to put your money at the moment is 'land''
agreed


SaltyWaters posted:
Spain is peanuts but according to the guy who wrote this article on August 6, 2012 - not me I'm not a market analyst 😄

'Spain could potentially take down the banking system in Europe, which would mean the US facing a Financial Crisis at least on par with 2008.'

In any case I still believe the best place to put your money at the moment is 'land'



Cheers.

k4y (KayS)
Aug 18 2012 at 01:43
posts 63
James_Bond posted:
If the support breaks, I would stick with USD:




I was looking at that chart as well and saw the actual price near support level.
I live in Greece and there is a lot of talk about Greece, that it will finally exit the Euro Zone (some say it might even happen as early as next month). My concern is that the Euro might crash in case of a 'Grexit' which would make it break the support level and plunge quite low.
I also know about the economic situation in the US and would rather not have USD as my account currency.

The question actually is, IF the Euro crashes, which other currency or currencies are more stable and would be less negatively affected by such a crash.

Kay

k4y (KayS)
Aug 18 2012 at 01:46
posts 63
stevewalker posted:
'In any case I still believe the best place to put your money at the moment is 'land''
agreed


SaltyWaters posted:
Spain is peanuts but according to the guy who wrote this article on August 6, 2012 - not me I'm not a market analyst 😄

'Spain could potentially take down the banking system in Europe, which would mean the US facing a Financial Crisis at least on par with 2008.'

In any case I still believe the best place to put your money at the moment is 'land'



Cheers.


I agree too.
But unfortunately I can't select 'land' as my account currency 😁

SaltyWaters
Aug 18 2012 at 02:15
posts 247
I see! Your platform must be out of date because mine has it. Just got 50 acres Ocean view in Greece! 😄

Since Drachmas is out of question I would say CAD is a good choice.

Cheers.

James_Bond
Aug 19 2012 at 12:27
posts 556
KayS posted:
The question actually is, IF the Euro crashes, which other currency or currencies are more stable and would be less negatively affected by such a crash.

Kay


I don't think there will be a currency which isn't affected by a Euro meltdown - there would be most likely those who're affected less, however all currencies should be affected. This is quite a scary scenario to have.

Financialarts
Sep 18 2012 at 15:01
posts 134
James_Bond posted:
KayS posted:
The question actually is, IF the Euro crashes, which other currency or currencies are more stable and would be less negatively affected by such a crash.

Kay


I don't think there will be a currency which isn't affected by a Euro meltdown - there would be most likely those who're affected less, however all currencies should be affected. This is quite a scary scenario to have.


true, solution: 1 currency for the entire world.
That way, we can all crash together at the same rate :)

I am the change in the market that causes you to lose :p / Watch out before I negative pip you! ^^
FTP (RD123)
Sep 22 2012 at 17:19
posts 12
This is a lazy question. You can make money from any currency pair. You need to briefly review all currency pairs and monitor which ones appear to have a good amount of recent volume.

When you see one that looks like it will be making some significant size moves, trade it.

It really isn't that hard to figure out. You have to do the work yourself.



KayS posted:
Hi folks,

If you have deeper long-term fundamental knowledge, I'd like to hear your recommendation for what currency one should hold his trading account in these days.

My broker offers the following currencies for trading accounts: AUD, USD, EUR, GBP, NZD, JPY, CHF, SGD.

Until now I held my account in EUR but I'm afraid my capital will further loose value due to the continuing euro crisis.

I thought about CHF or JPY. What do you think about these two? In case of a Euro crash, would CHF be negatively affected or not?

Thanks.

Kay

It's not the market. It's not the spread. It's not slippage. It's not the broker. It's not the system. It's YOU. Once you stop whining and making excuses, you can start winning.
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