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Questiona 'bout Forex Trading?

Discussion in 'Business & Tax Advice' started by LOL-Blaster, Jan 8, 2013.

  1. LOL-Blaster

    LOL-Blaster Regular Member

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    Why do forex broker only trade with 2 currencies?
    What about trading with 3 currencies

    For example: Trading with 3 currencies: USD, JPY, EUR
    USD ==> JPY ==> EUR ==> USD
    Just split test all 6 combination and see which trade convert the best.

    The market is unregulated and controlled by supply and demand right.
    Or am I thinking it too simple

    Another totally unrelated question:
    Can I claim my Internet bill as an expense?
     
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  2. GauravJ

    GauravJ Power Member

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    Yes it is possible but by doing so risk also gets doubled As open position is in 3 currency
    but at same time if one is able to effectively manage them Profit potential is also high
    Infact, this is what most of hedge funds are doing By engaging themselves in what is better known as currency arbitrage.
    To know risks in such trade learn more about guy named nick lesson and also watch movie named rogue trader based in him.

    and About claiming Internet bill as an expense -
    Yes These can be claimed provided you are using it for official purpose or atleast prove it to be so if tax officials ask for it.
     
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    Last edited: Jan 8, 2013
  3. LOL-Blaster

    LOL-Blaster Regular Member

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    Did the reading on currency arbitrage.
    It seems like opportunities for this are one in a million.

    Can't believe something sound so good in theory won't work in real life.
    Oh well, it was a good read.
     
  4. Moneyman94

    Moneyman94 Junior Member

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    As for the internet bill, if you are using it in your home you may have a problem proving that you use it for business only. If its in an office then you will have no problem.
     
  5. samcom

    samcom Newbie

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    900+pips package as a trail, this is really work signals, I will give these for a 1 week free, 80% winning strategy, You will see this, If you follow these signals, If anyone want this signals free for a one week send me a PM with ur mail.

    Thanks,
    SamCom
     
  6. GauravJ

    GauravJ Power Member

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    It's hard to profit from this niche but once you have requisite skills and ability to manage risks
    It's highly rewarding opportunity and that may be the reason why mostly you will see Big I'Bankers having
    specialised teams and programmed softwares targeting on one particular aspect and making bucks in millions or even billions.
    If you want to get more into depth read story of LTCM(How their success turned into bankruptcy).