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scotto47
31st Aug 2005, 12:16
Hi Everone,

Has anybody borrowed yen. I know the risks of currency trading . But I would like to hear of anybodies experiences.

Cheers s47

Farrell
31st Aug 2005, 12:26
Crazy to borrow yen!

I have seen people destroyed by it. Especially after the bubble burst in the late 1990s.

I was there at the time, got great money teaching and only just managed to cash it in on time.

Some of my mates got really badly nailed.

Be careful!

Duff beer
31st Aug 2005, 12:33
HOW IN THE NAME OF GODS GREEN EARTH IS THIS A RUMOUR OR NEWS!!!!!

Farrell
31st Aug 2005, 12:43
Ah Duff baby, you just wouldn't understand! :p

GARDENER
31st Aug 2005, 13:07
Dont do it....take a pill! Wrong board so who gives, worse things happening in the world. If pprune is all you live for get a life!

angels
31st Aug 2005, 13:32
Ah this is my neck of the woods!

Ignore those ruffian pilot chappies (er, but you should never have posted this on R&N)!

Seriously, don't do it. On the interbank market the six month LIBOR (London Interbank Borrowing Rate) was set at 0.65 percent this morning at the 1000 GMT fix. As a punter, you'll pay a little more but not much.

Seems tempting doesn't it. You must consider the forex factor. IE will the yen go up or down against your 'natural' currency. A msall movement the wrong way would **** you. You probably don't have the financial clout to hedge against currency movements (we'll take you on for US$5 million minimum).

So. Leave it. PS Many moons ago a mate of mine in Hong Kong took out a mortgage in Australia in yen. He was the head of forex trading at a major Swissie and knew his stuff. He lost out.

airship
31st Aug 2005, 13:41
Wouldn't one be better off studying the Ying and Yang?! :(

Taildragger55
31st Aug 2005, 13:57
Ask Nick Leeson.

I believe he is something of an authority on trading Yen.

Not in a good way, though.

answer=42
31st Aug 2005, 14:54
angels,

you say that hedging currencies requires big bucks. I thought at retail level you could buy options worth only a couple of 000 $// for a few bucks. Not worth it for currency speculation purposes, though.

scotto47
1st Sep 2005, 04:35
Thank you Gents for your help and support. That was my first post . I thought admin would have moved my subject to the appropriate forum.

As to the yen for Yen, I'll be taking all your advice and leaving it alone.

Duff Beer, Is it raining there in England !

Cheers S47

Kaptin M
1st Sep 2005, 05:16
Anybody want to borrow some yen??

Belly, belly cheep cheep late....

http://img.photobucket.com/albums/v720/hanmersprings/scan.jpg

angels
1st Sep 2005, 06:30
answer - must admit, I didn't realise you could hedge at a retail level. I suppose it was always going to happen.

I used to keep an eye out on a retail forex commentary site in case anything cropped up. It was quite sad seeing various handles come in and a few days later drop out because their 10,000 dollars had gone. Stick to the poker sites!