Non-IT News Thread
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@thwr said in Non-IT News Thread:
Better not. Greenland could be an option, building igloos with the Inuits...
THey left the EU long ago. No good.
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Pound hits new all time low at $1.31. London markets have been temporarily suspended via automatic break mechanisms designed to slow a market crash.
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@scottalanmiller said in Non-IT News Thread:
Pound hits new all time low at $1.31. London markets have been temporarily suspended via automatic break mechanisms designed to slow a market crash.
The funny thing is, that by suspending the market they are often hurting themselves more than benefiting.
Doing that just causes more panic as the uber-rich say "give me everything" when the market reopens.
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@DustinB3403 said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
Pound hits new all time low at $1.31. London markets have been temporarily suspended via automatic break mechanisms designed to slow a market crash.
The funny thing is, that by suspending the market they are often hurting themselves more than benefiting.
Doing that just causes more panic as the uber-rich say "give me everything" when the market reopens.
Then they just suspend it again. The real punishment comes from the market being unable to make money. Stopping losses also stops gains. The markets are huge money makers. Turning them off turns off much of the economy.
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http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
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@scottalanmiller said in Non-IT News Thread:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
I might be able to afford a visit
https://s-media-cache-ak0.pinimg.com/236x/00/38/10/003810ad19e8eab7754106736ec03644.jpg
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I'm glad to see that travel is going to be cheap for a while.
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@scottalanmiller said in Non-IT News Thread:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
So I should probably refrain from any small scale currency speculation? For a moment, it almost seemed like a good idea to buy a hundred pounds for 136 bucks.
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@RojoLoco said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
So I should probably refrain from any small scale currency speculation? For a moment, it almost seemed like a good idea to buy a hundred pounds for 136 bucks.
Over/Under is running about 20 bucks so you'd lose any gains in the fees
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@RojoLoco said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
So I should probably refrain from any small scale currency speculation? For a moment, it almost seemed like a good idea to buy a hundred pounds for 136 bucks.
Small scale is never good nor is holding currency. FX Trading is done at insane scale and very rapidly (many times per day.) The idea of holding any currency or trading through cash exchange channels is a sure loss.
Holding currency means that you fight inflation and pay massive overheads on the exchange for things that move very little. FX traders work in sub-second trades with big leverage (like 10,000% loans) to get enough volume to make it work.
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@MattSpeller said in Non-IT News Thread:
@RojoLoco said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
So I should probably refrain from any small scale currency speculation? For a moment, it almost seemed like a good idea to buy a hundred pounds for 136 bucks.
Over/Under is running about 20 bucks so you'd lose any gains in the fees
Exactly. Basically $10,000 is the minimum buy for an FX speculation and the maximum hold is 48 hours. If you try to drop below $10 or hold longer than two days... you are screwed.
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@scottalanmiller said in Non-IT News Thread:
@MattSpeller said in Non-IT News Thread:
@RojoLoco said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
http://www.cmegroup.com/trading/fx/g10/british-pound.html
Sterling Futures are a bit bleak.
So I should probably refrain from any small scale currency speculation? For a moment, it almost seemed like a good idea to buy a hundred pounds for 136 bucks.
Over/Under is running about 20 bucks so you'd lose any gains in the fees
Exactly. Basically $10,000 is the minimum buy for an FX speculation and the maximum hold is 48 hours. If you try to drop below $10 or hold longer than two days... you are screwed.
Or playing the long con
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If I was to do casual FX trading at home, I'd likely be working with $100K or more and hopefully trading more than once per hour, for example.
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@scottalanmiller said in Non-IT News Thread:
If I was to do casual FX trading at home, I'd likely be working with $100K or more and hopefully trading more than once per hour, for example.
$100k is not a casual anything.
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I spent most of my 30s as the top FX trade technologist in the game (architecture) running the biggest FX trading organization in the world which had as a client... the US Fed, for example. So this is my bread and butter.
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@RojoLoco said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
If I was to do casual FX trading at home, I'd likely be working with $100K or more and hopefully trading more than once per hour, for example.
$100k is not a casual anything.
FX isn't a casual game. FX is go high or go home trading. It's the biggest profits and the biggest risk. You can't play unless you are in it to win it.
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FX trading is also the most automated. To get any advantage on FX trading the only option is to hire developers (I can get them for you) and the architecture team (I have them to) and build a low latency trading platform that sits in London physically within about 1km of the main exchange. And you have to be willing to make trades that no human sees - if you take over 20ms to decide on the trade, you lose it. FX offers last well under a second. They are called ticks and you get an offer many times per second. It's literally trillions per day across the currency options. And that is spot pricing alone.
So just attempting to trade in it is a major undertaking. You expect to drop several million just to get into the game from a hardware perspective. without it, any "good deal" that you see is gone before it even shows up on your screen.
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@scottalanmiller said in Non-IT News Thread:
@RojoLoco said in Non-IT News Thread:
@scottalanmiller said in Non-IT News Thread:
If I was to do casual FX trading at home, I'd likely be working with $100K or more and hopefully trading more than once per hour, for example.
$100k is not a casual anything.
FX isn't a casual game. FX is go high or go home trading. It's the biggest profits and the biggest risk. You can't play unless you are in it to win it.
I was joking.... I'd give myself a shotgun tonsillectomy if I ever actually considered any kind of "trading". I'd be far more likely to lick a public toilet seat than to get involved in any of that bullshit.
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Trading is dumb; investing is the way to go. Holding positions for a couple years and only buying worthwhile companies.
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@momurda said in Non-IT News Thread:
Trading is dumb; investing is the way to go. Holding positions for a couple years and only buying worthwhile companies.
Traders are the ones that make the big money, but it takes work. My mom was a trader later in life and did great. Long term holds are what you do for retirement, trading is what you do to make money.
