Comments on: Could somebody make money by converting currency? http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/ Discussion of Forex Trading and Currency Trading Wed, 23 May 2012 14:23:25 +0000 http://wordpress.org/?v=2.3.3 By: bobby769 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20243 bobby769 Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20243 Yes, it's called FOREX and stands for Foreign Exchange. It works exactly the way you described although your description is very simplistic. Yes, it’s called FOREX and stands for Foreign Exchange. It works exactly the way you described although your description is very simplistic.

]]> By: QuizCall http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20244 QuizCall Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20244 Yes, you could charge a small percentage for doing so. Yes, you could charge a small percentage for doing so.

]]> By: boomn4x42 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20245 boomn4x42 Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20245 Sure... and people do it all the time. Sure… and people do it all the time.

]]> By: Chen10 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20246 Chen10 Tue, 30 Nov 1999 00:00:00 +0000 http://www.myylt.com/2009/11/28/could-somebody-make-money-by-converting-currency/#comment-20246 Yes, plenty of people do make money on forex markets. Plenty lose it too though. If you are going to try it then you really should stick with what you know- assuming from what you say that you are familiar with US $ and euro's then you might stick with these at first or use sterling or yen as these are all (fairly) stable. The problem with this kind of thing is likely to be commission- how are you going to change enough money (unless you have big backers) to make a decent amount of profit after commission. It is certainly a challenge, but you only live once I guess. Good luck if you decide to pursue it. Yes, plenty of people do make money on forex markets. Plenty lose it too though. If you are going to try it then you really should stick with what you know- assuming from what you say that you are familiar with US $ and euro’s then you might stick with these at first or use sterling or yen as these are all (fairly) stable.

The problem with this kind of thing is likely to be commission- how are you going to change enough money (unless you have big backers) to make a decent amount of profit after commission. It is certainly a challenge, but you only live once I guess.

Good luck if you decide to pursue it.

]]>