US ($) Currency Thread 1 (closed - use thread 2)

Moncs_2

alchemista wrote: »

I really despise these type of questions. People - NOBODY KNOWS THE FUTURE. If anyone could tell you for sure whether to buy or sell now, they would be billionaires...

Everyone's post in here is pure speculation. You can try to make an educated guess, but that's about it, otherwise you're currency speculating.

Some things to keep in mind:
The longer you hold onto your money, the longer you can keep it in a high-yield savings account. So your money is growing in interest at least.

If you exchange sooner rather than later, you'll end up with cash that is not gaining interest.

Depending on your interest rate, etc, that may be a small factor to consider. However, it's at least a given whereas making a decision based on future currency values is just speculation.

If you despise these type of questions, why bother to answer?
The whole point of these forums is to ask people their opinion and advice on things which they have more knowledge on. Of course no one knows the future however a knowledgeable reply is better than a blind stab in the dark.

Nevertheless, thanks for your input.

alchemista

If you want to get expert advice, I don't suggest posting on MSE about currency speculation.

You may want to look at the futures market, where currency professionals speculate about future rates. The price of a future embodies the market's expectations today.

http://www2.barchart.com/mktcom.asp?code=BSTK&section=currencies

Steve_xx

alchemista wrote: »

If you want to get expert advice, I don't suggest posting on MSE about currency speculation.

You may want to look at the futures market, where currency professionals speculate about future rates. The price of a future embodies the market's expectations today.

http://www2.barchart.com/mktcom.asp?code=BSTK&section=currencies

There's plenty of expert advice available on here. Since you have 900+ postings on here I assume that you feel that the site is both good for gleaning advice and a good forum for the offer of advice?

Donnie

alchemista wrote: »

Everyone's post in here is pure speculation. You can try to make an educated guess, but that's about it, otherwise you're currency speculating.

Some things to keep in mind:
The longer you hold onto your money, the longer you can keep it in a high-yield savings account. So your money is growing in interest at least.

Everyone? :rolleyes:

photome

IMO this is an impossible question to answer, but for what it is worth I am going to the states in march 08.

I will not be buying much, if any dollars before I go, I will be using my nationwide debit card and my post office credit card while I am there so that I get maximum value.

alchemista

Steve_xx wrote: »

There's plenty of expert advice available on here. Since you have 900+ postings on here I assume that you feel that the site is both good for gleaning advice and a good forum for the offer of advice?

It's not a good forum for discussing currency speculation.

alchemista

Donnie wrote: »

Everyone? :rolleyes:

Yes, everyone. If anyone on here was able to accurately predict the future, they would be billionaires.

I'll repeat what I said before, if you want to get some expert advice on probable direction, look to the futures markets. Those are still experts speculating, but at least its people who are professionals and who have much more data.

Steve_xx

alchemista wrote: »

It's not a good forum for discussing currency speculation.

Why is it not?

Steve_xx

alchemista wrote: »

Yes, everyone. If anyone on here was able to accurately predict the future, they would be billionaires.

I'll repeat what I said before, if you want to get some expert advice on probable direction, look to the futures markets. Those are still experts speculating, but at least its people who are professionals and who have much more data.

How do you know that there are not professional currency speculators who contribute their assessments and views to these forums?

PandaPants_2

We are going to Vegas in December and we have been buying dollars all year. Generally if the rate goes over $2 per £1 we buy a couple of hundreds worth, to be honest the rate hasn't drastically changed. If we did make money i say it would only be a few pounds,we were just worried that when we booked back in March that the rate might drop a lot.