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Topic: THE WORST DAY FOR GBP SINCE 1848 (Read 2998 times)

legendary
Activity: 1526
Merit: 1001
November 02, 2016, 05:35:21 PM
#47
Hi guys,

Is anyone that is good at investments?

Today I lost more than 20.000$ with GBP/USD.

So what do u think?

I have paused investing or trading because of the many pumps and dumps happening even though it is a good time to invest/trade because of the bitcoin price change but in your case losing 20k is pretty high, what amount do you trade daily?

You can make some money with all the volatility, but if you get the trend long, your entire earnings can get wiped out.
I guess that is what happened with the OP,

Everyone trader want to get at least their money back as soon as possible and make as much profit as they can but this is very risky, and the OP maybe invested all his money and I don't like this strategy because putting all eggs in one basket is very risky but sometimes is profitable.
full member
Activity: 137
Merit: 106
November 01, 2016, 02:04:16 PM
#46
I trade a lot before but not such big amounts. For me 20k are a lot of money.

Usually just like hobby start with 50 euros and in a month easily 200-300. Never lost. But my target was low everytime

I try 75% back at least.

If you were able to quadruple your money reliably in a month and 'never lost' then you'd be a millionaire in less than a year, and 20k would be chump change. Time to stop exaggerating your prowess, delusion is your enemy in this game.
legendary
Activity: 1218
Merit: 1007
October 31, 2016, 10:10:24 PM
#45
For a country that imports more than it exports, a weakening currency is bad. The loss of revenue from the increasing price of imports will trickle down and start affecting the general population. It's really bad for savers too (if your savings are in gbp of course).

The only UK companies this is good for are those that rely heavily on exports, preferably using resources that they buy from within the UK.

A strong sterling would merely prolong the balance of payments deficit. A weaker pound increases labour competitiveness and encourages exports. It is a sledgehammer of an instrument, but to call it wholly bad is to overlook the pre-existing malignancy.

yes,you can refer,in part, to chinese yuan
US goverment didn't like much when China kept their currency weak ,it hurt their feelings Smiley
but with GBP it is slightly different,majority of the GDP comes from financial instruments and trade,not production
weak currency allows countries to develop their own strong production system and not to be reliant on pure financial sector profits
now when the banks declared their own bankbrexit I feel GB would have to pay more attention to their labour class
The GBP might be struggling, however with a lower GBP more businesses might consider it as a place to start businesses or having some franchises located in. They technically pay them less, and make more money, as long as the market share is there.

The Brexit is interesting to say the least, and there are a ton of variables, however it will likely work out in the future.
legendary
Activity: 2016
Merit: 1107
October 31, 2016, 09:34:19 PM
#44
For a country that imports more than it exports, a weakening currency is bad. The loss of revenue from the increasing price of imports will trickle down and start affecting the general population. It's really bad for savers too (if your savings are in gbp of course).

The only UK companies this is good for are those that rely heavily on exports, preferably using resources that they buy from within the UK.

A strong sterling would merely prolong the balance of payments deficit. A weaker pound increases labour competitiveness and encourages exports. It is a sledgehammer of an instrument, but to call it wholly bad is to overlook the pre-existing malignancy.

yes,you can refer,in part, to chinese yuan
US goverment didn't like much when China kept their currency weak ,it hurt their feelings Smiley
but with GBP it is slightly different,majority of the GDP comes from financial instruments and trade,not production
weak currency allows countries to develop their own strong production system and not to be reliant on pure financial sector profits
now when the banks declared their own bankbrexit I feel GB would have to pay more attention to their labour class
legendary
Activity: 2842
Merit: 1511
October 31, 2016, 06:36:30 AM
#43
For a country that imports more than it exports, a weakening currency is bad. The loss of revenue from the increasing price of imports will trickle down and start affecting the general population. It's really bad for savers too (if your savings are in gbp of course).

The only UK companies this is good for are those that rely heavily on exports, preferably using resources that they buy from within the UK.

A strong sterling would merely prolong the balance of payments deficit. A weaker pound increases labour competitiveness and encourages exports. It is a sledgehammer of an instrument, but to call it wholly bad is to overlook the pre-existing malignancy.
legendary
Activity: 2016
Merit: 1107
October 30, 2016, 05:05:27 PM
#42
imagine if OP decided to invest in bitcoin instead of playing on GBP pairs
in less than 2 months price went up from 550 to 700 USD
it is 20% increase! if invested 50.000 profit would have been 10.000
legendary
Activity: 1246
Merit: 1000
October 28, 2016, 11:14:20 AM
#41
Hi guys,

Is anyone that is good at investments?

Today I lost more than 20.000$ with GBP/USD.

So what do u think?

I have paused investing or trading because of the many pumps and dumps happening even though it is a good time to invest/trade because of the bitcoin price change but in your case losing 20k is pretty high, what amount do you trade daily?

You can make some money with all the volatility, but if you get the trend long, your entire earnings can get wiped out.
I guess that is what happened with the OP,
STT
legendary
Activity: 4102
Merit: 1454
October 28, 2016, 09:49:18 AM
#40
Mark Carney hasnt restarted QE but just the talk or indication of that possibility and its a very real one, is enough to weaken sterling.    Federal reserve has been doing the opposite talking up the idea of rate rises while actually only performing one very feeble rise in an entire decade.    Thats quite some game they play.

UK lowered rates but the difference was fairly insignificant, I think it is just the larger picture that the entire bank of England policy is towards very loose money.   This is while UK also has a fiscal deficit, trade deficit and perceived weakness from leaving possibly the worlds largest trading block.
   IF UK keeps good relations with Germany and I guess also France then you have a situation very similar to when UK is in the EU, really people move from fear and then state this as fact when it was just a first reaction.  I do believe economies are founded on peoples efforts and strengths not politics, Im going to be surprised if words matter more then actions.
Germany has every reason to continue good trade with us no matter what, UK is a major customer for them and its both our best interests.   Politics doesnt decide this, the people of Germany and their workers already determine what happens, EU or not is very much secondary to free will
legendary
Activity: 1526
Merit: 1001
October 28, 2016, 03:01:16 AM
#39
Hi guys,

Is anyone that is good at investments?

Today I lost more than 20.000$ with GBP/USD.

So what do u think?

I have paused investing or trading because of the many pumps and dumps happening even though it is a good time to invest/trade because of the bitcoin price change but in your case losing 20k is pretty high, what amount do you trade daily?
legendary
Activity: 2101
Merit: 1061
October 28, 2016, 02:24:14 AM
#38
One fact little mentioned is that our Goldman Sachs Canadian Central Banker (Mark Carney) has fired up the printing press with Moar QE. His solution to the pound being weakened after Brexit is to devalue the pound !!!! And he gets a pat on the back. Unbelievable.

However hard brexit is the right option for Britain to stay as a soverign country. The fall of the pound will have economic benefits and might help Britain actually do some manufacturing and exporting to stimulate real/not fake recovery.

Next crisis in the eurozone and Britain will be shielded from it.
hero member
Activity: 490
Merit: 520
October 25, 2016, 02:56:57 PM
#37
that sounds like the essence of degenerate gambling to me but if that's what you wanna do, go do it.

If you look at currencies that were almost the same, they had a grew or a fall for ever.

So this is the point of how i am thinking.
It is normall to have a currency value fall or rise, this is because the demande and supply of that currency differs over the time. If the demand exceed supply, you get rise in the value and vice versa. Hence, no point worrying about that. Demand and supply are usually affected by news and events. Fall and rise are very common to any commodity.
\Considering the timing chances are it's a bunch of large currency traders trying to pull out of the pound due to a perceived future decrease in value through Britain finally leaving the EU (Something which was mentioned for around March next year), and they just chose to leave now.

Not sure why it would go down otherwise, but I don't keep up with UK economics and politics.
legendary
Activity: 938
Merit: 1002
October 25, 2016, 02:19:18 PM
#36
that sounds like the essence of degenerate gambling to me but if that's what you wanna do, go do it.

If you look at currencies that were almost the same, they had a grew or a fall for ever.

So this is the point of how i am thinking.
It is normall to have a currency value fall or rise, this is because the demande and supply of that currency differs over the time. If the demand exceed supply, you get rise in the value and vice versa. Hence, no point worrying about that. Demand and supply are usually affected by news and events. Fall and rise are very common to any commodity.
legendary
Activity: 2016
Merit: 1107
October 25, 2016, 12:01:21 PM
#35
Brexit has had very significant impact on GBP and banking sector in general
I'm afraid we haven't seen the low yet,more,dire things to come as a result of the major shift towards China both in terms of finances and global management
suffice it to say that major banks are planning to pull out of Britain,just read the articles here:

http://www.breitbart.com/london/2016/10/11/workers-threaten-sue-banks-relocating-brexit/

https://www.ft.com/content/a3a92744-3a52-11e6-9a05-82a9b15a8ee7

https://www.theguardian.com/politics/2016/oct/22/leading-banks-set-to-pull-out-of-brexit-uk


 
STT
legendary
Activity: 4102
Merit: 1454
October 22, 2016, 10:04:01 PM
#34
Quote
after brexit its will take to much time to recover

After brexit and yet UK is in the European union and will be for maybe two more years.   This is all speculation and it happens especially because UK has a trade deficit and also a fiscal deficit.  So despite being a world reserve currency to a minor extent its heavily subject to speculation and thats mostly what is happening right now.   Fundamental changes in business and currency demand have not yet occurred since late June, its far too early.
On top of that the Euro and Dollar are moving targets subject to their own weakness and varied popularity and use, right now Dollar is stronger for the perception of its presidential election and Federal Bank.  I suspect those two factors intersect and we'll see a change in stance by the Fed post election, that should be more significant then the UK not yet leaving EU
legendary
Activity: 2016
Merit: 1107
October 22, 2016, 06:11:49 PM
#33
Force possible option is to invest in GBP simply bad only would cause lost in investment
This is worst British pound for as far as a know it was always good currency but after brexit its will take to much time to recover

especially with all these foreigners flooding our island and taking jobs away from our poles!

think this graph says it all



there are some signs of life,a rally
but the abyss GBP has fallen to is too deep
legendary
Activity: 1022
Merit: 1000
Blocklancer - Freelance on the Blockchain
October 19, 2016, 10:46:00 AM
#32
Force possible option is to invest in GBP simply bad only would cause lost in investment
This is worst British pound for as far as a know it was always good currency but after brexit its will take to much time to recover
legendary
Activity: 2016
Merit: 1107
October 17, 2016, 03:33:52 AM
#31
simply BAD trading practice,the signs of an inexperienced trader
or should I say gambler?
chasing loss-tick
emotion based trading(gambling)-tick
playing with the money you cannot lose-tick
haven't you read any newspapers recently?
heard about Brexit and Europe migrants problems?
with GBP being volitile like hell and hitting the lowest since god knows when OP stays in GBP and doesn't hedge his loss
I really pity your plight,but you should not have risked your savings and stuck to 50-100 pound per month gambling
legendary
Activity: 1400
Merit: 1001
October 16, 2016, 11:16:59 PM
#30
Op, what do you expect? have you really thought that trading GBP after Brexit and signs of overall economic turmoil which is happening in Europe right now is good idea?
Haven't you noticed what markets reacted? You should have sold all your Pounds right after Brexit - it is too risky trading this currency now.
sr. member
Activity: 434
Merit: 250
October 16, 2016, 10:50:07 PM
#29
GBP is a very dangerous investment right now.
It may bounce back at some point in a few years, so a long term investment could be okay.
But in the short term, I wouldn't be surprised if we saw 1:1 with the US Dollar.
legendary
Activity: 3528
Merit: 7005
Top Crypto Casino
October 16, 2016, 10:30:04 PM
#28
Since you are not a sociopath
Whoa there!  Though I wouldn't assume this fine gentleman isn't a sociopath, there's absolutely no way to tell.  In fact, given the turds who frequent bitcointalk regularly, it might even be prudent to assume sociopathy is a given.  The lending section and most of the gambling section are chock full of 'paths.  And other assorted mental illnesses.  It's like a big psycho grab bag.
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