Efcjake
Player Valuation: £80m
We're talking in the Queen's pound here mate
cryptocurrencies
- Thread starter nikom court
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Zatara
Player Valuation: £100m
I actually think its going back towards $8k in a few months time...once people adapt to the virus situation.
Big Neville Southall
Player Valuation: £8m
Can I ask, what does mean in Layman's terms? Anything under 10k then and any profits are wiped out by fees?
Zatara
Player Valuation: £100m
Good question...and quite a complex explanation really but in laymans terms think of it like this:
Banks -- Institutional broker --- retail broker -- individuals
The banks will have the institutional brokers as clients which means high volumes = high deposits, low trading fees and low spreads.
The institutional brokers then add on additional fees and/or widen the spreads for the retail brokers.
The retail brokers then of course need to again widen spread and/or charge higher fees.
So as a retail/individual client youre at the bottom of the food chain.
Because this model is based on trading volumes then brokerages generally work on the principle that a higher deposit = higher trading volume.
So rather than opening an account for $1k / $10k what if you open an account with $50k or $100k ? They will offer better terms as they believe you will be trading more.
However theres nothing stopping you from opening an account for $100k and trading it just the same way as a $1k account but on more favourable terms.
However, this is a laymans terms explanation...this is how the workflow should go...but of course some brokerages also:
1: Dont send 100% of the trading flow up the food chain. They hold onto the trades and hope the client loses so they can pocket the funds.
2: Net off positions across accounts....so for example if the pot of clients are all in the market and the position total is $120mil buying EUR/USD and selling $130mil EUR/USD they would net off the $120mil and only send $10mil up the food chain.
Theres other things which can all be done to affect spreads / commissions and its not so straightforward to explain here but you get the gist.
Big Neville Southall
Player Valuation: £8m
Thank you, very informative read that. What did cross my mind was just before the Brexit deadline when the pound was high to buy a couple of grand worth of Euros and keep hold and sell when the price in the pound fell. It did fall so I would have had to have sold them by now, however it has actually started to rise again which means the opportunity could be here again to do the same. With a small investment I guess it would be hard to break above the fees to make it worthwhile, at the same time though it would still make an interesting learning curve.
Zatara
Player Valuation: £100m
If youre aiming to do that make sure you choose a regulated broker in the UK. Youre covered for up to £50k i think if they run off with your money or do anything dodgy.
Sounds like you would want to short GBP against EUR.
Issue here is the fees of course + margining of the account (if you bear in mind that say $10k account you would only want to risk max 10% on a long term position...with the other 90% there as a safeguard for market fluctuations.
You can also put in positions to auto close if you reach a profit target or suffer a certain % loss.
Just be prepared to lose the lot
nikom court
Player Valuation: £20m
hope you backed yourself!
theres all the corona virus crash losses regained.
lets see what happens now with the halving coming up in a couple of weeks!
What has Kev been up to!?
the sniderman
Player Valuation: £40m
they are good indicator of the most boring people in the world as that is exclusively who obsess over them.
Scam
st.domingo
Player Valuation: £15m
Not saying you’re wrong, but the monetary system ex-cryptos is an orders-of-magnitude larger scam that has been going on for a hell of a lot longer. Why do we even need central banks? Why are we told inflation is good and deflation is bad when the former makes ordinary savers poorer and the latter wealthier? Etc.
Now that central banks are taking about creating their own cryptos, you could say that the fix is in. After all, what despot wouldn’t like a system where absolutely every transaction is permanently recorded; where access rights can be controlled centrally and undesirables threatened with economic exclusion?
Perhaps cryptos aren’t the future, but IMO any attempt by ordinary folk to create their own money, free from bankster control is A Good Thing.
In other news, BTC looks like it could be on the move again the last few days..
Now that central banks are taking about creating their own cryptos, you could say that the fix is in. After all, what despot wouldn’t like a system where absolutely every transaction is permanently recorded; where access rights can be controlled centrally and undesirables threatened with economic exclusion?
Perhaps cryptos aren’t the future, but IMO any attempt by ordinary folk to create their own money, free from bankster control is A Good Thing.
In other news, BTC looks like it could be on the move again the last few days..
And the last few that have tried to do so have ended up dead...Not saying you’re wrong, but the monetary system ex-cryptos is an orders-of-magnitude larger scam that has been going on for a hell of a lot longer. Why do we even need central banks? Why are we told inflation is good and deflation is bad when the former makes ordinary savers poorer and the latter wealthier? Etc.
Now that central banks are taking about creating their own cryptos, you could say that the fix is in. After all, what despot wouldn’t like a system where absolutely every transaction is permanently recorded; where access rights can be controlled centrally and undesirables threatened with economic exclusion?
Perhaps cryptos aren’t the future, but IMO any attempt by ordinary folk to create their own money, free from bankster control is A Good Thing.
In other news, BTC looks like it could be on the move again the last few days..
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st.domingo
Player Valuation: £15m
The time for getting rich quick off Bitcoin was 10y ago.
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