Question
My name is Maurice. I have $50,000 in FXCM (Foreign Exchange Market). I am considering converting dollar to Euro now. The rate I apply now
My name is Maurice. I have $50,000 in FXCM (Foreign Exchange Market). I am considering converting dollar to Euro now. The rate I apply now (first exchange rate conversion) is 0.90 Euro/$. In the evening, I bet the rate will be 0.92 Euro/$. Let's assume there are no service fees about this process.
If I strongly believe in my speculation (i.e. my speculation that the exchange rate in the evening would be 0.92 Euro/$), what would be your advice to me?
A) Don't do it. You will lose money if your speculation is right.
B) Risk is yours, but do it. You can make some money if your speculation is right.
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