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Making money off of currency exchange...
Posted on 2/5/15 at 1:58 pm
Posted on 2/5/15 at 1:58 pm
Is there any way to make money off of current exchange rates or is there only money to be made from buying futures?
For example, right now $1 US = $1.25 Canadian. Can you use this right now to make money immediately? If so, how?
For example, right now $1 US = $1.25 Canadian. Can you use this right now to make money immediately? If so, how?
2
Posted on 2/5/15 at 2:45 pm to LOCO5150
Sure. There's also a chance you lose a shite ton of money too.
Posted on 2/5/15 at 4:16 pm to LOCO5150
You can make 25% on each trade in raw dollar yield.
Posted on 2/5/15 at 6:46 pm to Dead Mike
Sure you can. If you think the CD will go up against the dollar either buy CD futures or for a lower risk option buy FXC or for a lower risk option open an Everbank account buy Canadian Dollars and hold them in a savings account. If you think the Canadian dollar is going down short FXC or short CD futures if you trade futures. You can also trade the actual currency crosses but they trade too fast and hard for me.
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