Currency exchange for profit, is it a viable idea?

It's definitely a thing people do.

There's some risk to it, but it's been detailed in just about every international business book out there.

Options Trading

>>1688898
What if you're wrong and it drops further to .0065?Currency movements are even more random than stock prices.

In real life, currency trades on margin (using borrowed money). Gains and losses are magnified using borrowed money. If the value of your account falls below a predetermined amount, you get a margin call meaning you either need to deposit more money to raise the value of your account or your broker automatically closes your positions at a loss

>>1688920
is trading currencies referred to as options trading? or is it just a type of option trade.

are there any big names that trade in this manner?
>>1688924
really? would you say they are more volatile than leveraged ETFs?
could you not just average down to .0065, assuming that you believed it were to go up of course.
is any sort of analysis worth using to evaluate what the curency will do?
Explain to me what you mean by borrowed money. Is it the same idea of shorting? Like I go to a broker and say I want 100$ in yen, but not actually give him any initial cash? better yet, can you give me an idea of what you mean by margin in this instance?
how are they magnified using borrowed money?

>>1688924
I understand risk, so I know I can be wrong. There's not really much I can to avoid that (besides not trading at all), only realize and reduce it.

>>1688933
just fucking open a forex account and trade

>>1688938
the most I know about forex is the name. so idk about that yet. in the future yes.

>>1688945
>the most i now about forex is the name

then fucking google it you autistic fuck.
and trading with borrowed money is called leverage. Most brokers offer a pretty good amount of leverage, anywhere from 10:1 to 200:1
which means that you could be potentially trading $200 worth of currency for every dollar you deposit. This makes for great potential returns with a small initial deposit (magnified if you will) but there's also a much smaller margin for error as your losses are also maginified.

>>1689051
ahhh anon, you explained that so well, i understand.
thats fucking awesome, though 200:1 going backwards sounds fucking dangerous. so if I deposit 1 dollar, and I call it right, i have the potential for 200? or if im wrong -199? sounds more like roulette.
is there a way to realistically analyze currency movements? or do they moved sporadically to every time a nation's leader farts? excuse my typing, i just woke up from a cat nap

>>1689192
exactly, now you understand, and yes there is, if this is something you're interested in and serious about there's a website i would recommend for you, google babypips.
It's a very tedious and time consuming skill set to develop, but once you've got the hang of it, you have the potential to make money. That website will teach you pretty much everything you need to know about technical analysis. Also look into tradingview, It has real time charts and reputable traders that post their analysis for anyone to see, all for free my man.

>>1688898
>what if I do this thing thousands of people do every day on websites that already exist
Ok

>>1688898
People already do that, it's called Currency Speculating.
George Soros, the most high-profile of the currency market speculators, made over £1 billion in profit by short selling sterling in 1992.

In the event of an interim price decline, the short seller will profit, since the cost of (re)purchase will be less than the proceeds which were received upon the initial (short) sale. Conversely, the short position will be closed out at a loss in the event that the price of a shorted instrument should rise prior to repurchase.

>>1689681
Ahhhh, so say in a theoretical world, Donald trump does somehow make Mexico pay for and build a wall. And I was ballsy enough to short the Peso prior to start of construction, could this have rippled to the value of the peso and I give me returns?

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89KB, 500x517px

>>1688898
>tfw australia might be losing its $100 note