Can anyone help on how to invest the currency exchange between US$ and Chinese Yuan on line?
October 10th, 2009
Posted by: admin
Can anyone help on how to invest the currency exchange between US$ and Chinese Yuan on line?
By: calimont
By: calimont
Tags: Chinese Yuan, Currency Exchange, Invest
October 11th, 2009 at 19:27
It’s a currency convertor site. You’ll be able to convert any currency using this. Enjoy!
October 14th, 2009 at 19:15
hi, i can’t remeber the address, but you can get to my blog there scroll down and get to the right side there you’ll fina a banner to easy forex exchange investors. Hoepe it helps.
October 16th, 2009 at 14:48
Why the Chinese Yuan? Are you bullish on the chinese currency or are you bearish on the US dollar?
The reason I am asking is because the spread between the USD and CNY is 100pips. This currency pair has one of the biggest spreads in the market today. This means that if you sold the USD and bought the CNY, your position has to move 100 pips before you can break even. Consider this, the spread for the EUR/USD is typically one pip. The spread for GBP/USD is less than five pips.
If you are bearish on the USD, then you might want to consider trading the EUR or the GBP, even the japanese yen. But if you are bullish on the CNY for a good reason, try looking into the OANDA website (http://oanda.com)
Hope this helps.
Jim
October 18th, 2009 at 11:42
+1 to the guy above me.
I just want to add you may want to consider getting a trading system.
But what you do (and what I did) is make sure the trading system has a 60 day money back guarantee first; then make sure you can use a demo account. A demo account let’s you play the trading game with “play money” so you can see if you can profit from the trading system without investing your real cash.
Use the demo account for 59 days and if you see you can make profit you keep the system and invest your real cash. If there’s no profit to be made you get a refund and try another system; there’s literally no risk when buying one.
If you’re interested I found reviews of the top 3 Forex trading systems:
October 19th, 2009 at 21:41
Take a look at CYB (WisdomTree Dreyfus Chinese Yuan Fund ). It’s an ETF based on the Chinese Yuan which seeks to earn current income reflective of money market rates in China available to foreign investors, as well as provide exposure to movements in the Chinese Yuan relative to the U.S. Dollar.
Although this fund invests in very short-term, investment grade instruments, the fund is not a “money market” fund and it is not the objective of the fund to maintain a constant share price.
If you’re new to currency trading I’d suggest to practice on a site like xearn.com where you can trade these currency ETFs as well as stocks in a mock portfolio.
October 23rd, 2009 at 05:10
If you are looking to just exchange one currency for the other you are going to take a loss. If you are interested in investing with potential high profits then you need currency exchange program. However if you are new to the game, you really should practice with a demo account first. I have not the money to invest, but I have been playing with practice accounts for a long time and you usually lose all your money until you learn the ins and the outs. I have been very profitable for quite some time now, if you like I can help you out on a one on one basis.