Trading Currency

kriss_boy

Is it difficult?

I trade odds on betfair with relative success and Im interested in trading currency.

I wondered if anyone could point me in the right direction? Perhaps Im being niave but surely its quite easy!! Or are the fees and margins tight?

Thrugelmir

Trading anything is easy. Making it profitable is art.

kriss_boy

I trade odds on snooker. Its easy to make at least £100 per tournament, often nearer £250 or more.

I tend to play it safe, placing boring easy £1 bets when in theory if I played in multiples of £10 then Id be making £1000 per tournament. I dont want to go down that road for obvious reasons.

I just wondered if trading currency was reasonable straight forward.

theGrinch

I think you can set up a "dummy" account to practice. There are alot of forex platforms out there if you google i.e. saxo bank, igmarkets.

Like you I do small trades on sporting events; typically £1 to £10 returning about 25% per month and compounding it. It can be a nice little sideline

leahciM

Ok ok , utterly rookie question here - and please do be kind - but what is this 'trading odds' on sporting events business?
Care to explain/link to a website that explains.


Unless trading odds is a fancy way of saying 'betting on' ofc. I know exactly how much cash I can lose doing that :rotfl:

Theyarv1

leachim - he backs a selection and then maybe lays it back when it is shorter (or the other way around - laying a selection and backing it at a higher price when it is losing perhaps) to lock in a profit