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The £ is fucked thread


nirvana
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55 minutes ago, spygirl said:

Private individuals should not be messing around with FOREX postions.

Sure, buy a stock which have lots of earnings in a Euro or Swiss currency.

Dont touch naked FOREX positions.

 

 

 

Although when i lived in Hong Kong, I was able to move money back and forwards a couple of times over the years as the AUD moved against the USD (which the HKD was pegged to).  Move 10000 aussie and make 200 bucks, move it back 6 months later and make 200 bucks.  It was pretty easy as the niche currency trader I was using for the moves had same day payment (minimal counterparty risk) and no commission.

I wouldn't do anything more complex than that (which is just a bigger version of buying your holiday money when rates are good).

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The scores on the doors, using gold as the standard unit of measure:

spacer.png

PS:  An average 14% return per annum over the long term is decent!  Best not look at "wonderful" UK house prices in terms of gold!

PPS:  So what, GBP has deteriorated on average by about 3% per year more than most other currencies.  That's a lot over the intermediate to long term. 

Edited by Harley
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On 18/07/2020 at 18:34, Castlevania said:

Aren’t they all plastic now? I can’t see that working very well.

you can wash it and re use.. plus its double sided..

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15 hours ago, 5min OCD speculator said:

Bollocks! British economy is in permanent decline and no turning back...they don't make anything!

Very true manufacturing dropped another 3%..

But that's not what we do anymore, no real jobs, Mc'donalds delivery, hand car washes, endless coffee shops.. all propped up with nearly £100 billion per year in housing and in work benefits..

You will see a list of tax havens mainly have British flags in the corners, part of the old empire..

London is one of the best places to setup your tax avoidance fund and wash money through the city.. brings in lots of business and a vested interest by the rich to keep us floating..

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@Harley those percentages look very juicy but this graph says gold has been a poor investment over the last 10 years.....

Nice if you started accumulating in 2015!!!

 

gold_10_year_o_usd_x.png

edit: yes it looks a lot better in GBP, further proof £ is poo :P

gold_10_year_o_gbp_x.png.cedb766387a956284c27a4dcd2e8d06c.png

Edited by 5min OCD speculator
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1 hour ago, 5min OCD speculator said:

@Harley those percentages look very juicy but this graph says gold has been a poor investment over the last 10 years.....

Nice if you started accumulating in 2015!!!

 

gold_10_year_o_usd_x.png

edit: yes it looks a lot better in GBP, further proof £ is poo :P

gold_10_year_o_gbp_x.png.cedb766387a956284c27a4dcd2e8d06c.png

Everyone looks at gold, etc in USD even if that is meaningless to them!  Currency has been a bigger trick than inflation!

The figures in the table are just that.  A comparative analysis across all currencies based on a common unit of measure (which is largely independent of any country specific nuances).  And a long term view. 

No need for graphs, especially as they are only one dimensional.  The table is n dimensional.  Sure, shows the performance of gold, but more importantly in the context if this thread, shows relative currency to currency performance.  Some people use Mars bars rather than gold!

You are correct, the Indian Rupee is shite and GBP is poo!

PS:  Here it is, people and their lovely house prices are....one dimensional thinking in an n dimensional world.  Again, this is not about gold as a superior investment but as a cross currency and absolute UOM.....

spacer.png

As an aside to this thread topic, people have piled into housing like some wizards of finance, spent money they had and borrowed the rest on the back of some perceived "wealth effect", and have in reality nothing to show for it.  Regardless of whether they could ever realise any of the gains from what is really a chattel not an investment.  Some people are still waiting for a house price crash and slagging boomers, etc when it is the value of what they earn that has crashed!  You could not make it up.  Ignorance all round, probably by design.  The only mitigation is the somewhat unique leverage a mortgage offers (but then so do options, etc).

PPS:  Just found this.....

http://pricedingold.com/

An example:

spacer.png

PPPS:  Gold in GBP is completing a cup and handle chart pattern.  The mother of all such patterns given the length of it.  Gold in USD is going the same way.  UK house prices in gold also did it back in the day (courtesy of the "liberating" expansion of credit from the 1980s onwards)!

Edited by Harley
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4 hours ago, spunko said:

Plenty of wine from the UK, and apparently it's good, but I am not a wine snob so wouldn't know. https://www.winegardenofengland.co.uk/

I am a wine snob and 20 years ago English wine was an embarrassment, overpriced and universally shite.  However, climate change has done us proud.

A few years back Chapeldown won some sort of international competition on which was the best fizzy wine, regardless of origin.  French champagne houses were pissed off, but looked at the terroir and realised that Kentish chalky downland was very similar to that in the Champagne region, but a few degrees further north and have been buying it up at pace ever since.

 

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3 minutes ago, Inigo said:

I am a wine snob and 20 years ago English wine was an embarrassment, overpriced and universally shite.  However, climate change has done us proud.

A few years back Chapeldown won some sort of international competition on which was the best fizzy wine, regardless of origin.  French champagne houses were pissed off, but looked at the terroir and realised that Kentish chalky downland was very similar to that in the Champagne region, but a few degrees further north and have been buying it up at pace ever since.

 

The North and South downs are incredible places on a quiet day with the skylarks above.  Unique.

 

Didn't the Romans grow wine as far north as humberside?  I always thought that was the killer for AGW - the fact that in recorded history we had enough climate change in the UK to wipe out entire farming industries, way before the industrial revolution.

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12 minutes ago, wherebee said:

The North and South downs are incredible places on a quiet day with the skylarks above.  Unique.

 

Didn't the Romans grow wine as far north as humberside?  I always thought that was the killer for AGW - the fact that in recorded history we had enough climate change in the UK to wipe out entire farming industries, way before the industrial revolution.

Some of my favourite places in the world....

Even better than that, it was the Brits that first planted vines in the Bordeaux region in order to quench their thirst for wine.

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47 minutes ago, wherebee said:

The North and South downs are incredible places on a quiet day with the skylarks above.  Unique.

 

Didn't the Romans grow wine as far north as humberside?  I always thought that was the killer for AGW - the fact that in recorded history we had enough climate change in the UK to wipe out entire farming industries, way before the industrial revolution.

Skylarks i assumed were widespread across the UK. I'll appreciate them a bit more then! 

Hush Heath wine is better than Chapeldown impo, but pricey

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On 19/07/2020 at 09:20, spygirl said:

Private individuals should not be messing around with FOREX postions.

Sure, buy a stock which have lots of earnings in a Euro or Swiss currency.

Dont touch naked FOREX positions.

Seconded. I build algorithmic FX trading platforms for a living. It is very difficult to make money. $20 profit per million traded is a good run rate for an IB, although some are happy with 3! And it is not uncommon for the eFX desk to lose hundreds of thousands in a day - and that's without taking punts, just unfriendly flow that is difficult to monetise (clients whose tech is better than ours!). In fact there are a small number of clients who we only trade with because their trading behaviour is good info. We lose money trading with them, but use their trading activity as an input to our own pricing.

Edited by AWW
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Wight Flight
2 hours ago, AWW said:

Seconded. I build algorithmic FX trading platforms for a living. It is very difficult to make money. $20 profit per million traded is a good run rate for an IB, although some are happy with 3! And it is not uncommon for the eFX desk to lose hundreds of thousands in a day - and that's without taking punts, just unfriendly flow that is difficult to monetise (clients whose tech is better than ours!). In fact there are a small number of clients who we only trade with because their trading behaviour is good info. We lose money trading with them, but use their trading activity as an input to our own pricing.

Interesting stuff.

I have always wanted to ask someone in your field - for every winner, does there need to be a loser?

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32 minutes ago, Wight Flight said:

Interesting stuff.

I have always wanted to ask someone in your field - for every winner, does there need to be a loser?

Unlike the  nick berry song, everyone loser loses.

Fx platform allow up 500x leverage. Fucking insane.

https://ftalphaville.ft.com/2016/12/15/2181273/forex-trading-aint-what-it-used-to-be/

https://ftalphaville.ft.com/2019/12/17/1576578593000/Thank-you-playing-the-forex/

Forex is very liquid, easy to understand as its 'money's but follows fuck all logic.

Only pros, trying to hedge forex for commercial position makes sense.

 

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19 minutes ago, spygirl said:

Unlike the  nick berry song, everyone loser loses.

Fx platform allow up 500x leverage. Fucking insane.

https://ftalphaville.ft.com/2016/12/15/2181273/forex-trading-aint-what-it-used-to-be/

https://ftalphaville.ft.com/2019/12/17/1576578593000/Thank-you-playing-the-forex/

Forex is very liquid, easy to understand as its 'money's but follows fuck all logic.

Only pros, trying to hedge forex for commercial position makes sense.

 

Nah your not doing it right. This kid was an expert after he saw a few videos online and easily beat the system and the millions spent on expensive algorithms and shit.

Nothing to do with any other ‘agenda’ in the newspaper article even though it’s encouraging kids to gamble.

https://metro.co.uk/2019/04/21/boy-16-turns-150-60000-teaching-trader-9281518/

Would be good to catch up with a recent update to see how his Forex trader career is going.

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Just now, Sideysid said:

Nah your not doing it right. This kid was an expert after he saw a few videos online and easily beat the system and the millions spent on expensive algorithms and shit.

Nothing to do with any other ‘agenda’ in the newspaper article even though it’s encouraging kids to gamble.

https://metro.co.uk/2019/04/21/boy-16-turns-150-60000-teaching-trader-9281518/

Would be good to catch up with a recent update to see how his Forex trader career is going.

Afaik all these wonderkinde are idiots unknowingly fronting a scam forex org.

I'm surprised the daily mail still prints these stories as they are usually good on exposing money scams.

I guess it's more to print, than print the jail bankrupt story.

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16 minutes ago, Sideysid said:

It looks as though with his leverage he must have made some hefty losses, but posts the videos of the lucky streaks.

It might be true, but if it is, it's pure luck. He should take his £150k and never touch FX again.

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1 hour ago, Wight Flight said:

Interesting stuff.

I have always wanted to ask someone in your field - for every winner, does there need to be a loser?

Most FX trading is a byproduct of other trading activity, whether that is someone in the UK buying a Canadian stock, or a UK widget manufacturer exporting to the US. So there's no real concept of being a "loser" - making money on the FX isn't a consideration, as evidenced by those of us who get shafted by HL every time we trade a resource stock, and the Thomas Cook spreads that most banks show to small corporates.

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Wight Flight
48 minutes ago, Sideysid said:


It looks as though with his leverage he must have made some hefty losses, but posts the videos of the lucky streaks.

True of every gambler I have ever known.

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