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The forex market...I'd never really heard of this, although I admit I'm a pretty conservative investor.
So I went to my financial bible (perhaps not the best, but one I can understand), Money Magazine. They just had a recent blurb on it this month:
Behind the Buzz (MONEY Magazine) By George Mannes March 15, 2007 11:06 PM EDT
(MONEY Magazine) – THIS MONTH: Online currency trading
• WHAT IT IS Trading the dollar, the euro, the yen and other major world currencies in the foreign exchange market through websites such as FOREX.com and FXCM.com
• THE BUZZ Looking for a way to make money off a weakening greenback? Or maybe you're nostalgic for the excitement you once felt day-trading Pets.com? You've come to the right place, suggest the ads for these sites. The 24-hour Forex market has plenty of action. With 100-to-1 leverage—$1,000 up front gives you a $100,000 position—you can reap big profits from tiny shifts in value between currencies.
• THE TRUTH You can lose big too. Just ask Warren Buffett—a pretty shrewd investor, no? He lost nearly $1 billion in 2005 by betting the dollar would drop. "It's gambling, really," admits Forex hobbyist Rich Paredes, 32, of Wood-Ridge, N.J., who once lost $2,000 in less than a minute. A safer way to hedge against the dollar: foreign stock and bond funds.
• BUZZWORTHY?
Absolutely Not quite [√] Only if all the flights to Vegas are booked From the March 1, 2007 issue
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Slow growth, no load mutual funds with dividend re-investment is a nice way to go. Dump it in there and never touch it again. The ultimate in conservative investment.
soma Member # 12876
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i agree yes that's it The ultimate in conservative investment.
*tigerman* Member # 9196
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quote:Originally posted by Shebah: I'm trying to learn about money market accounts.
Big difference between Money market accounts and currency trading ....
unless you have $200K willing to loose anytime I would not touch currency trading even with a nine feet stick ....
Muby Member # 12717
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Money market(Stock Market) which u trade on stocks for companies like microsoft , Dell, 3m, ...etc
but if u mean currency trading, then u mean the Forex, & it's very interesting than the stocks market,,,,u can make so muck money BUT IN THE SAME TIME U CAN LOSE,
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