Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: 200ma who wrote (42527)	12/5/2003 2:26:48 PM
From: GraceZ	Read Replies (3) of 74559

You can trade currency futures directly: refcofx.com 200:1 leverage! Mind you I'm not recommending you do this but aside from holding dollars, it is the one way to benefit from currency movements. I'm sure there are a few books out there about making a fortune in currency futures. The books you won't find are those detailing how they lost a fortune trading currency futures. Although there might be a few written about the Allfirst Bank currency fiasco where a rogue trader, right here in Baltimore, managed to rack up $691 million in losses before the bank discovered what was going on. sunspot.net Most fund managers use currency futures to hedge existing positions in foreign stocks rather than to speculate in currency movements. They do this to reduce the risk from currency fluctuations. Here's a Morningstar article explaining how funds use futures to hedge. Some are hedged completely to the dollar with the idea that in the long run the dollar will hold more relative value than any other currency: news.morningstar.com

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