Just opened up a practice account to get started. I was wondering has anyone made any decent profits from it?
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Forex Trading has anyone ever tried it?
#2
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Posted 05 October 2009 - 11:16 AM
My boyfriend made a profit of half a million in two years...U could say thats a profit. Though I must say with recession time now, be careful. Its a lot of work. It needs time, precise work and some good analysing...Goodluck!
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#3
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Posted 07 October 2009 - 08:21 AM
It depends on what type(s) of currency you want to trade and the type of instruments you want to use to trade these currencies. You should keep in mind that return-volatility covariance behavior of exchange rates are extremely difficult to predict due to complex and unrecognized pathwise properties of higher moment dynamics. Now, this doesn't mean its impossible nor impractical to design a model; you can probably develop a stochastic volatility model similar to the observed behavior of volatility "smiles" implied in prices of traded options for example.
Keep in mind that the forward rate is NOT an unbiased predictor of future spot rate and exchange rates display a strong volatility clustering (periods of high volatility is followed by periods of high volatility, low periods with low volatility). Before you part ways with your dollar I strongly suggest you try modelling these returns and volatilities using a simple vector autoregression and its associated conditional volaitility with a GARCH model.
Seriously though, trading in foreign exchange market is no walk in the park.
Keep in mind that the forward rate is NOT an unbiased predictor of future spot rate and exchange rates display a strong volatility clustering (periods of high volatility is followed by periods of high volatility, low periods with low volatility). Before you part ways with your dollar I strongly suggest you try modelling these returns and volatilities using a simple vector autoregression and its associated conditional volaitility with a GARCH model.
Seriously though, trading in foreign exchange market is no walk in the park.
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#4
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Posted 11 October 2009 - 02:28 PM
Woah @Aiyla mind asking your boyfriend what currency he changed to and from?
#5
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Posted 14 October 2009 - 05:31 PM
QUOTE (Aiyla.- @ Oct 5 2009, 11:16 AM) <{POST_SNAPBACK}>
My boyfriend made a profit of half a million in two years...U could say thats a profit. Though I must say with recession time now, be careful. Its a lot of work. It needs time, precise work and some good analysing...Goodluck!
Half a million...
...Yen?
Pain is temporary
Glory is forever
Glory is forever
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