Currency Trading Switzerland
Lets say I have $5 million dollars to spend on foreign exchange, which 4 currencies should I buy out of these:
My aim is to play the part of a currency trader and to trade different curtrencies to increase the value of the currency I am actually holding.
I have $5 million USD to spend on the following currencies: (I want to use atleast 4 of them)
Euro
Pound Sterling
Yen
Australian Dollar
Hong Kong Dollar
Franc (Switzerland)
Peso (Mexico)
Lire (Turkey)
Krone (Norway)
Rouble (Russia)
Rupee (India)
Baht (Thailand)
I want to make as much money as possible. Which currencies should I buy and why? And when converted back into dollars, how much profit will I make from that currency today.
Use todays forex rates March 5th) on this site if needs be:
http://www.xe.com/ucc
This is not a well-specified question…. How long do you plan to hold the currencies — 5 minutes? 1 day? 1 year?
The trading strategy would be very different. If you plan to hold them very short-term, then looking at recent movements is your best bet. However, the longer you plan to hold them, the more you should start looking at the underlyling economic fundamentals in each country — especially likely changes in interest rates.
Forex Day Trading Strategy on $-Swiss: Consolidation Reigns with clear parameters!
