posted on Mar, 4 2009 @ 09:29 AM
Let me started by saying that i'm getting very interested in the FOREX (Foreign Exchange) Currency Markets. Probably in a few months or 6 months time
i will attempt live trading.
I live in Australia where our exchange rate is about one dollar australian to get 64 US cents.
To make the most profitability in the end i should start my account with a strong currency like the US$ or the EURO or Pound, and when i want to
convert those curencies back into australian dollars i'd get a lot more Aussie dollars.
So i was thinking maybe start off using US dollars, but seeing how they're printing lots of money and their economy is up the shiot and to be worse
soon, i was thinking about going EURO's, But seeing as many EUROpean countries are in the shiot and if just one of those countires were to go
bankrupt apparently the consequencies would be Cataclysmic. (or so i read inthe Australian Financial Review). So i was thinking of going with the
Pound but they're printing money also and the value of the pound is going down down down... The only other currency i can think of would be the yen,
but since their exports has reduced to about 46% from a year ago, all i can think of is that the Yen would be going down too..... just like singapores
Since every other country are needing less commodities for which Australia is well known to export (i mean minerals, iron ore, coal, etc..) and are
therefore weakening the australian dollar, I don't really wish to start my forex account in Australian dollars. I want a stronger currency than my
own, that wont collapse or crumble when more SHTF?
So what i'm wondering is, if anyone knows or has any idea.... What would be the safest bet on which currency to put my money into to begin with so
that i get the maximum returns on my investment in FOREX trading when i plan on with-drawing all my funds.
Your help would be greatly appreciated in this matter.
Thank you and kind regards,
[edit on 4-3-2009 by DaRAGE]