How Does One Invest in Foreign Currencies, Anyway?

[krazy kaju]

My question is rather simple. How could I get some kind of fixed annuity in a foreign currency? What would I have to do?

 

[eric_cartman]

europac.net

 

[Mosheh Thezion]

JUST TAKE YOUR dollars.. and go to a forex dealer..

and buy... euros for example..

Do this when the dollar is high and the euro is low..

then when the dollar is low and the euro is high.. you sell the euros for dollars, and bingo.. you have more dollars.

but these values fluctuate... so its just like gambling... unless you have insider info.

-memat

 

[OptionsTrader]

My question is rather simple. How could I get some kind of fixed annuity in a foreign currency? What would I have to do?

Here is an easy way that is more handsoff than trading forex directly

http://www.currencyshares.com/

 

[raystone]

- Go to your local bank and exchange your U.S. dollars for a foreign currency (ask what they have and if they can get X)
- Go to a money exchange window at the airport or in a city downtown (they take VISA)
- Open an account at everbank.com (hold in a foreign currency savings account or buy a foreign currency CD

 

[stag15]

Buy silver/gold canadian maple leafs.

 

[Zippyjuan]

Just watch out for how much they charge you on the exchange. If you pay a ten percent fee to buy Euros you need the value of the dollar to change by 20% just to break even.

 

[Dforkus]

Duped for some reason, sorry

 

[krazy kaju]

europac.net

No. I don't have 10 grand to invest.

JUST TAKE YOUR dollars.. and go to a forex dealer..

I already do trade forex. What I'm looking for is a more long term and lower risk method of trading currencies.

Here is an easy way that is more handsoff than trading forex directly

http://www.currencyshares.com/

Cool, thanks, I'll look into that.

- Go to your local bank and exchange your U.S. dollars for a foreign currency (ask what they have and if they can get X)
- Go to a money exchange window at the airport or in a city downtown (they take VISA)
- Open an account at everbank.com (hold in a foreign currency savings account or buy a foreign currency CD

Thanks, sounds good. I'll look into that as well.

Buy silver/gold canadian maple leafs.

No.

 

[Dforkus]

Just a suggestion, but instead of trying currency trading, you could go with an equity position in Phillip Morris International (Ticker symbol PM) as an insulated weak dollar play. That is, if you are ok investing in a business that sells tobacco, I am...
Operating in friendly regulatory environments, its got cash flow, but tends to look even better (to a US based investor at least) in a weak dollar environment... Currency speculation, especially leveraged currency speculation is a sucker's game, IMHO...
I guess you could do the same on with a commodity company like BP or an smaller foreign mining/energy concern, if you are willing to handle volatility from both currency issues, and the underlying price of the commodity...

As as small fish: I'd rather use a dependable dividend from a boring but profitable company as a currency conversion mechanism than try to do battle in the FOREX market... for a hole host of reasons...

Disclosure:
PM : Don't own it now, but I have in the past, am considering it again

 

[Objectivist]

I've got some Martian cronads for sale, you buyin?

 

[Mordan]

yea FOREX is nasty because it begs you to gamble.. but i disagree with the leverage problem. say you have 1000 dollars. just buy a very small leveraged position.