I wish it could fall much deeper. But I am afraid I will be forced to convert my whole trading account to Euro....
I don't know why you would want to do that, even if your broker allowed it. I guess you can deposit in any currency, but the broker platform would have to support multiple currency displays, etc. You don't gain a thing. If euro hits 1.50 and you have 10K in dollars, converting would mean you have 7500 euros. All this talk about getting paid in euros is goofy. It's called foreign EXCHANGE !!!
If I make $10 an hour and ask to get paid in euros, then I get paid 7.50 euros an hour. Nothing changed, nothing gained.
I could convert to pounds and end up with 5000 pounds. I didn't gain or lose a thing.
If I make $10 an hour and ask to get paid in euros, then I get paid 7.50 euros an hour. Nothing changed, nothing gained.
I could convert to pounds and end up with 5000 pounds. I didn't gain or lose a thing.
- #4
- Nov 26, 2007 3:27pm Nov 26, 2007 3:27pm
I don't know why you would want to do that, even if your broker allowed it. I guess you can deposit in any currency, but the broker platform would have to support multiple currency displays, etc. You don't gain a thing. If euro hits 1.50 and you have 10K in dollars, converting would mean you have 7500 euros. All this talk about getting paid in euros is goofy. It's called foreign EXCHANGE !!!
If I make $10 an hour and ask to get paid in euros, then I get paid 7.50 euros an hour. Nothing changed, nothing gained.
I could convert to pounds and end up with 5000 pounds. I didn't gain or lose a thing.
We make money in USD and buy items in The Netherlands in euros.
Trainee at UBS Investment Banking
I don't know why you would want to do that, even if your broker allowed it. I guess you can deposit in any currency, but the broker platform would have to support multiple currency displays, etc. You don't gain a thing. If euro hits 1.50 and you have 10K in dollars, converting would mean you have 7500 euros. All this talk about getting paid in euros is goofy. It's called foreign EXCHANGE !!!
If I make $10 an hour and ask to get paid in euros, then I get paid 7.50 euros an hour. Nothing changed, nothing gained.
I could convert to pounds and end up with 5000 pounds. I didn't gain or lose a thing.
So as the above example shows if you chose to be paid in USD then you lost out if you spend money on non US goods or live outside the US. On the flip side if you chose to be paid in Euros you are still making 6.67 euros which can now be converted into $11.67 an hour making it so you don't loose out if you are spending money on non US goods or live outside the US or so that you actually gain a significant amount if you do.
Same thing holds true for money deposited in a trading account.