Korean Job Discussion Forums

[lastat06513]

My boss right now says that gold is the way to go...
The price right now is as high as it has ever been and it will only get higher....

And I am VERY curious about cerrency trading; which currency would be a good long term investment?

Some people have their eyes on the Euro, but I am not so sure.....
When I was in Kuwait, the KWD was trading at $3.45/1 dinar and it would be a cool investment as long as the oil doesn't dry up anytime soon.

And then what about a currency accounts at KEB, do you think it would be good to stash some cash away in US$?

Any suggestions on either gold and currency investment would be keen and helpful

Thanks and Cheers in advance

[tyleranthony]

i've done some small-scale currency trading before when I was living in england and the dollar was getting murdered by the pound... in an attempt to mitigate the daily a$$ pounding i received whenever i engaged in an economic exchange. didn't really make a difference in the long run...the time i spent doing the research on the currency, economic forecasts, etc., compared to the money I actually made, ended up being pennies.

the only way(s) i can really see this being a worthwhile pursuit is if a) you've got some serious coin to throw around (bare minimum $10k of totally disposable income), or b) you're looking for a long-term investment, or c) you're ridiculously savvy with global currency markets. in fact you probably need to satisfy all three.

i guess gold would be the way to go in comparison to currency...but even with rapid growth expected...i would never invest in anything thats at it's highest price of all time. but, it's your money...

[Sine qua non]

The only information you need to know to be a succesful speculator in currencies and commodities:


Are you a gambler?

and

Do you feel lucky? (Well, do you, punk?)

[bobbyhanlon]

don't do it.
people always hear stories about how fortunes are being made in stocks, futures, forex, etc etc. and want to try it themselves. believe me, trading is difficult and unless you have some amazing natural talent for it, you are just setting yourself up for trouble. the average investor is better off leaving trading to the professionals and just buying mutual funds or something.

[ChuckECheese]

[Zoobot]

tyleranthony summed up most of my thoughts on this subject. I would prefer to trade in commodities than currencies. Staying on top of currencies is a lot of work. Things like copper are always needed and they are more stable. Gold is way to expensive right now. God is pretty expensive too. If you bought it three years ago, you'd be laughing.

I still think the safest investment is real estate baby.

[huffdaddy]

[Trumpcard]

YOU MUST demo trade and learn!!!!!!!! seriously for all things currencies, BY FAR the best resource on the web is at www.forexfactory.com also read an ebook called Bird Watching In Lion Country US$1.9 TRILLION changes hands every day in the global currency markets which operate 24hours a day..........

trust me. learn price action and DEMO DEMO DEMO DEMO TRADE!

stock investing and discussion and analysis www.incrediblecharts.com

all things gold: www.kitco.com

happy trading

[tyleranthony]

demo trading is a good way to learn the ins-and-outs of currency trading- stop losses, take profits, etc... i currently toy around occasionally with fxtrade/oanda...they don't even allow you to trade in KRW in practice mode...may be different with other demo sites.

[nwise]

I've traded proffessionally for myself. Not currency, but stocks. Funny as it may sound to people, there is a lot of psychology involved. Demo trading will no insure that you can make the correct decision emotionally, ie to cut yoru loss/pyramid a gain/take a profit, etc. when there is real money on the table.

All in all, I would suggest, from 7 or so years of experience that:

1. You not trade; or,
2. demo trade as suggested, but, before using "real money";
2. Open a mini account, I think you can get one funded for as little as 300 usd. Fund it with the least possible as that will ensure you cannot lose more than a few hundred dollars. After you lose a few hundred dollars, instead of thousands, you can re-evaluate what you are doing correctly, incorrectly.

BTW-the problem with currency traing is the leverage. Very much a two edged sword.

Good luck. You can make more money in trading than in any other profssion in the world. But, it is a profession and you are trading against the smartest people in the world - who want your money.