Currency – is not only a tool for storing money, but to make money. How to know when to buy and when to sell the dollar, the Euro or another foreign currency, see finances 24.
When buying/selling currencies always need to have a monetary strategy and stick to it. This was told by the financier, partner iplan.ua Basil Mati on the webinar “FinUpDate Issue 10 Investing across borders and in any storm,” writes finance.ua.
How to choose: to sell or buy
The expert said the currency strategy lies in the fact that our savings and investments should be distributed in different currencies in certain proportions.
Taking the decision to buy the currency or sell, we should not react to market signals, trying to follow him and guess its direction. It is better to be guided by the facts – what part of our currency portfolio is one or the other currency or asset
Accordingly, if a currency begins to take a much larger part of the portfolio than the part that we identified in our strategy then is to sell the overvalued currency in favor undervalued to maintain the status quo.
Diversification or “don’t put all your eggs in one basket”
The diversification principle should apply not only to currencies but also to other assets. If you want to be an investor, then you should always allocate your investments among different stocks, metals, etc. or even different assets.
In this case, you minimize your risks for losing money, and the chance of success will increase several times.
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