Thought I would ask. But this morning my dad questioned me a little about FX, and i gave him a few answers. He then said to me how do I make money off the AUD? - We both live in Australia. I then preceeded to tell him some basic info around how the market works and that he should go long against the USD if he thinks we will gain the upper hand over the next few months. He then said yeah i understand the pairings but I mean if i wanted to physically trade (trade with real notes). I was trying to decypher the question then came to the conclusion that you cant do that as you already live in Australia therefore you cant go and buy AUD as you will be getting 1:1. I was then thinking he could buy US dollars then convert back but that would mean he would loose out if AUD went up against USD.
Is my theory of this right? the only way he can actually try his luck is by playing the fx market not by money/physical trading?
Maybe its just one of those Mondays and my brian is functioning right.
any ideas?
Thanks...
Is my theory of this right? the only way he can actually try his luck is by playing the fx market not by money/physical trading?
Maybe its just one of those Mondays and my brian is functioning right.
any ideas?
Thanks...