ritaxis: (Default)
ritaxis ([personal profile] ritaxis) wrote2007-10-30 09:51 am
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I shouldn't check the rate of exchange any more

Last night 300 000 CZK was down to $16000. Now it's up to $16100.

What are they doing? Playing poker?

[identity profile] dd-b.livejournal.com 2007-10-30 04:57 pm (UTC)(link)
No, poker is a game of skill (if played long enough; there's luck involved in each individual hand, but that averages out over time and what's left is skill).

Currency trading, on the other hand, is pure gambling.

[identity profile] ritaxis.livejournal.com 2007-10-30 05:26 pm (UTC)(link)
But they seem to do it all day and all night long! At times when nobody could possibly be awake amywhere in the world that could possibly be interested in Czech Koruny!

[identity profile] madwriter.livejournal.com 2007-10-30 09:00 pm (UTC)(link)
The zig-zagging may also be related to the fact that the dollar seems to be on a pretty steep decline while oil and precious metals are on a steep increase. That's having a weird effect on currency markets all over the world as people try to figure out what's going to happen next.