Do you think that forex trading will end? | Forex Factory

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Do you think that forex trading will end?

  • #1
  • First Post: Mar 24, 2011 1:59pm Mar 24, 2011 1:59pm
do you think that forex will end within few years? At least change the conditions for players? because of wars, crisis and so...
  • #2
  • Mar 24, 2011 2:49pm Mar 24, 2011 2:49pm
Quoting petertrader
do you think that forex will end within few years? At least change the conditions for players? because of wars, crisis and so...
Of course. More currencies will disappear as more countries from close geographical areas, similiar cultures and etc. would want to form unified economies like EU.

Eventually, we would just see six or seven currencies in the world, NA Dollar (North American Dollar), SCA Peso (SouthCentral America Peso), Euro, Asian Yan (China, Korea, Japan, Vietnam and all other Asian countries that want to join), ME Riyal (Middle East Riyal), African Dinar, and Australia and New Zealand will form their own currency, dollar.

There, we will be trading 7 currencies and control the whole world! MUUUUUHHHAAAAAA!!!
Make your losses in demo. Earn your profits live.
  • #3
  • Mar 24, 2011 3:52pm Mar 24, 2011 3:52pm
Forexia, your post looks ironic, but I kinda agree with it. North American Dollar > Amero, if I remember that right
Anyway, Peter, if you are afraid that FOREX will dissapear before you made yourself a fortune - I think you won't live up to that.
  • #4
  • Mar 24, 2011 4:47pm Mar 24, 2011 4:47pm
Quoting rytisv
Forexia, your post looks ironic, but I kinda agree with it. North American Dollar > Amero, if I remember that right
Anyway, Peter, if you are afraid that FOREX will dissapear before you made yourself a fortune - I think you won't live up to that.
Oh that's what Peter meant by "Forex disappearing"; he meant "Forex trading" disappearing. Well, the answer to that is again, of course. Look what happened to Stock Daytrading. It was only lasted a few years when CFTC killed it with that hefty min. starting account balance requirement bullcrap. It's only a matter of time when we get zero leverage and that would be the end of Forex trading.

Better make some major pips before the door is closed completely and it's closing down fast!
Make your losses in demo. Earn your profits live.
  • #5
  • Mar 24, 2011 4:57pm Mar 24, 2011 4:57pm
Quoting petertrader
do you think that forex will end within few years? At least change the conditions for players? because of wars, crisis and so...
Quote
Of course. More currencies will disappear as more countries from close geographical areas, similiar cultures and etc. would want to form unified economies like EU.

Eventually, we would just see six or seven currencies in the world, NA Dollar (North American Dollar), SCA Peso (SouthCentral America Peso), Euro, Asian Yan (China, Korea, Japan, Vietnam and all other Asian countries that want to join), ME Riyal (Middle East Riyal), African Dinar, and Australia and New Zealand will form their own currency, dollar.


if you mean fx trading for retail, YES. it will end if the whole world goes back to a gold standard completely and currencies cease to float on the market freely. countries still need a means of exchange to facilitate trade. things will revert to the time where only banks exchange money with each other.

the euro's survival is still suspect. let's see if it can prove milton friedman(the great little man) wrong?? or will it continue to flourish for decades to come?? thanks
  • #6
  • Mar 24, 2011 5:57pm Mar 24, 2011 5:57pm
Quoting winningfx
if you mean fx trading for retail, YES. it will end if the whole world goes back to a gold standard completely and currencies cease to float on the market freely. countries still need a means of exchange to facilitate trade. things will revert to the time where only banks exchange money with each other.
Gold standard? Not sure if anybody would want to go back and restrict themselves when they have had a taste of wealth obtained under the floating exchange rate? Would you honestly want to go back to earning $1,000 a year and then brag to your grandchillren "when I was your age, the candies just cost 5 cents a bundle"? And what's even worse, what happens when we finally run out gold? What then, Iron Standard? Gold deposit is finite and is depleting fast and if everybody's currency is pegged to gold, are we really going to enjoy worldwide deflation and shrinkage of economies?

Quoting winningfx
the euro's survival is still suspect. let's see if it can prove milton friedman(the great little man) wrong?? or will it continue to flourish for decades to come?? thanks
All the better if Euro doesn't survive; more pairs for us to trade. It's been a long time since I traded the USD/DEM pair (which will really be the replacement of Euro once it's disbanded, if you ask me). I will be looking forward to trading that pair for sure.
Make your losses in demo. Earn your profits live.
  • #7
  • Mar 24, 2011 8:41pm Mar 24, 2011 8:41pm
My forecast is that Forex will end when the world comes to just one global leader. The timing for the coming of this guy is very dificult to pinpoint. At that world time currencies will discontinued and changed for one single electronic currency.
  • #8
  • Mar 24, 2011 9:57pm Mar 24, 2011 9:57pm
Quoting Pitagoras
My forecast is that Forex will end when the world comes to just one global leader. The timing for the coming of this guy is very dificult to pinpoint. At that world time currencies will discontinued and changed for one single electronic currency.
Yeah, when the aliens arrive and then we all unite under one currency.
Make your losses in demo. Earn your profits live.
  • #9
  • Mar 24, 2011 10:24pm Mar 24, 2011 10:24pm
Quoting Pitagoras
My forecast is that Forex will end when the world comes to just one global leader. The timing for the coming of this guy is very dificult to pinpoint. At that world time currencies will discontinued and changed for one single electronic currency.
Take me to him...
  • #10
  • Mar 24, 2011 10:52pm Mar 24, 2011 10:52pm
There will always be commodities to trade.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #11
  • Mar 25, 2011 4:44am Mar 25, 2011 4:44am
I think it will never end, people will always trade currencies, maybe it will be less of them but never none.
  • #12
  • Mar 25, 2011 4:58am Mar 25, 2011 4:58am
Quoting Pitagoras
My forecast is that Forex will end when the world comes to just one global leader. The timing for the coming of this guy is very dificult to pinpoint. At that world time currencies will discontinued and changed for one single electronic currency.
I do agree with this opinion, but this time is not close. I don't even think that i'll be alive when this happen.
  • #13
  • Mar 25, 2011 5:40am Mar 25, 2011 5:40am
When forex became available for retailers?
  • #14
  • Mar 25, 2011 6:43am Mar 25, 2011 6:43am
Quoting petertrader
do you think that forex will end within few years? At least change the conditions for players? because of wars, crisis and so...
the more crises and wars, the better for trading, cause it sparks up volatility.
It takes a lot of political effort to unite economies under one currency. So, I don't see a united currency in asia or africa any time soon. Also it might not be desirable, as can be seen in the EU. Economies at different production levels. Greece would desperately need a devaluation in order to be able to increase exports.

And having only a world currency will from my current understanding of economics never ever happen. There is a reason for currencies to exist. If your local economy goes down, your currency goes down as well, making your exports cheaper which sparks up economic activity. Currencies are a way of regulating and balancing economies.

As for currency trading, this will also never end, traders and speculators are needed for proper functioning of the markets. They might decrease leverage further, but trading will never end.
And, there are always currency futures to speculate on as well.

cheers
  • #15
  • Mar 25, 2011 9:46am Mar 25, 2011 9:46am
I don't see this "currencies dissappearing" trend at all.

The eurozone is in a financial crisis and member countries are thinking of leaving it.
  • #16
  • Mar 25, 2011 3:27pm Mar 25, 2011 3:27pm
Quoting Forexia
Gold standard? Not sure if anybody would want to go back and restrict themselves when they have had a taste of wealth obtained under the floating exchange rate? Would you honestly want to go back to earning $1,000 a year and then brag to your grandchillren "when I was your age, the candies just cost 5 cents a bundle"? And what's even worse, what happens when we finally run out gold? What then, Iron Standard? Gold deposit is finite and is depleting fast and if everybody's currency is pegged to gold, are we really going to enjoy worldwide deflation...

why get so worked up over the gold standard?? just giving the op an example of how fx retail trading might end!! people might not realise this but inflation is stealing their wealth bit by bit!!

what is the spread that you pay to trade the usd/dem when it was still available?? thanks
  • #17
  • Mar 25, 2011 4:06pm Mar 25, 2011 4:06pm
Quoting adamx
I don't see this "currencies dissappearing" trend at all.

The eurozone is in a financial crisis and member countries are thinking of leaving it.
Who knows what will happen. http://www.mrc.org/bmi/commentary/2011/Unreported_Soros_Event_Aims_to_Remake_Entire_Global_Economy.html
  • #18
  • Edited Mar 26, 2011 12:20am Mar 25, 2011 11:34pm | Edited Mar 26, 2011 12:20am
Quoting winningfx
why get so worked up over the gold standard?? just giving the op an example of how fx retail trading might end!! people might not realise this but inflation is stealing their wealth bit by bit!!

what is the spread that you pay to trade the usd/dem when it was still available?? thanks
No, not worked up at all over Gold Standard, just trying to make a point that it's not quite possible to return to Gold Standard for stopping the free-floating currency system. Inflation is fine as long as how much you are getting paid is growing faster than how much you have to spend to buy things. Inflation is only "stealing your wealth" when your pay or savings can't keep up with the price increase anymore.

And finally, what does the spread on trading the USD/DEM have to do with whether Forex trading will end again? I am lost on this one...
Make your losses in demo. Earn your profits live.
  • #19
  • Mar 26, 2011 11:36am Mar 26, 2011 11:36am
Quoting willf
Who knows what will happen. http://www.mrc.org/bmi/commentary/2011/Unreported_Soros_Event_Aims_to_Remake_Entire_Global_Economy.html
thanks, interesting article
  • #20
  • Edited 3:12am Dec 25, 2015 2:47am | Edited 3:12am
Any recent insights?

Its been a few year since a new post on this thread, maybe there are newer more accurate views...?

Here are some questions to start some ball rolling...

1) Why isn't forex trading 24/7? (i.e ability to trade on sat & sun) (ANSWERED BELOW)
1.1) Why does it stop on the weekends? (ANSWERED BELOW)
1.2) Why does it stops on Christmas day? Any other days?
1.3) Who or what stops it?
1.4) Can this 'stop' be permanent?

2) On a bank holiday, does all the country's bank close?
2.1) Does the retail part of that bank close?
2.2) Who are the traders for the banks? How many are there?
2.3) Which banks are the biggest participants in forex trading?

3) When was forex trading made available to retail traders? (ANSWERED BELOW)
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