Pound in biggest monthly fall against the dollar since 2016...

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Plenty of people gear their ar**s off shorting fx/stock etc and make huge losses. I remember all the Bears pawing at Tesla because they had shorted it big and had to fulfil their orders at 5 times the sell price. of course they can always hedge, but so few ever do.
 
wellyfish said:
Lol.
You are confusing fx trading with going to the travel agent in Asda and swapping £s for whatever to go on your holidays.
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You still haven't explained it.
I worked in investment banking for over a decade, and no traders have people the option to trade without first coughing up a stake.

Please explain how you can sell pounds without spending any money at all, either beforehand or when you settle the account. If you are being loaned money to trade, you are spending your money.
 
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motorbiking said:
Plenty of people gear their ar**s off shorting fx/stock etc and make huge losses. I remember all the Bears pawing at Tesla because they had shorted it big and had to fulfil their orders at 5 times the sell price. of course they can always hedge, but so few ever do.
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Traders do all kinds of things, the ones who aggressively leverage without a trailing stop loss generally down hang around for long.
Problem with hedging is you have to make a decision to close one of your positions at some point then hope you've chosen the right one to keep open.
 
JP_ said:
You still haven't explained it.
I worked in investment banking for over a decade, and no traders have people the option to trade without first coughing up a stake.

Please explain how you can sell pounds without spending any money at all, either beforehand or when you settle the account. If you are being loaned money to trade, you are spending your money.
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Well done for 'working in investment banking for over a decade' and not understanding leverage.
Away and have read about it.
 
wellyfish said:
Well done for 'working in investment banking for over a decade' and not understanding leverage.
Away and have read about it.
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You still haven't explained it though. Easy to make a claim that anybody can open an account and sell pounds without having pounds, but that really is not how it works, is it? You open an account, fund the account, then start trading. Most Brits will fund their account with pounds.

But you will no doubt respond again saying "Google leverage", while ignoring that fact that the people who are selling the pounds are those that previously bought pounds.
 
JP_ said:
You still haven't explained it though. Easy to make a claim that anybody can open an account and sell pounds without having pounds, but that really is not how it works, is it? You open an account, fund the account, then start trading. Most Brits will fund their account with pounds.

But you will no doubt respond again saying "Google leverage", while ignoring that fact that the people who are selling the pounds are those that previously bought pounds.
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Lol.
I don't think anyone should be taking lectures from someone who has 'worked in investment banking for a decade' but doesn't understand leverage or how FX trading works.

Away to Asda and sell some £s for your holidays?
 
Unless you're trading in millions, the service charges and commission would wipe out any gains.
Plus the traders are not there to loan you some money to play with, often any losses have to be paid by the end of trading.
 
Pat ex said:
Unless you're trading in millions, the service charges and commission would wipe out any gains.
Plus the traders are not there to loan you some money to play with, often any losses have to be paid by the end of trading.
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Hey, Pat ex,
Come and tell us you know absolutely nothing about fx trading without directly stating you know absolutely nothing about fx trading.
Lol.
 
wellyfish said:
Hey, Pat ex,
Come and tell us you know absolutely nothing about fx trading without directly stating you know absolutely nothing about fx trading.
Lol.
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I don't need to explain it to you, you can learn about it online:
www.investopedia.com

How to Start Forex Trading: A Beginner’s Guide

Forex trading is exchanging one currency for another to profit from the trade. Learn more about trading foreign currencies.
www.investopedia.com www.investopedia.com
 
@Pat ex you may be missing the fact that its possible to buy a slice of the cake so to speak. For example you can buy currency ETFs. If you'd shorted BITO or FXB this year you would probably have made a few bob. Of course only one poster on this forum shares his trading history to show how smart he was (with the benefit of hindsight). Personally, I don't muck about with Fx, though I have clients who pay in Euro and USD, so often need to move cash and you can make a few hundred extra here and there. Obviously you don't let your bank deal with the conversion as they will rob you blind.
 
wellyfish said:
Well done for 'working in investment banking for over a decade' and not understanding leverage.
Away and have read about it.
Click to expand...
I think most people understand leverage (to some extent, not every nuance and detail), but very few understand how to sell pounds without spending them.

Maybe you might like to explain ? But dont point us to google, just a simple explanation will do. If you can ?
 
"The Bank of England says it won't hesitate to raise interest rates by as much as needed to return inflation to the 2% target"

Well that essentially f*cks over the majority of the UK population...

An out of control economy with an out of control corrupt government...

Stagflation!

And remember folks, it took root on June 23rd 2016!
 
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