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4-12% per transaction?
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mwanafunzi
#21 Posted : Wednesday, August 04, 2010 9:01:25 PM
Rank: Member


Joined: 12/3/2008
Posts: 113
I tried out the concept in 2006 but ended up with a loss. ITS NOT viable UNLESS you are a dealer with a bank and or in a position to negotiate for the rates.
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The Merchant
#22 Posted : Thursday, August 05, 2010 12:44:33 PM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
This is arbitrage trading that is a very viable concept for big money fellas such as hedge funds. We are looking at a scenario where the only way to make real cash is by having the capacity to negotiate favourable rates and been able to execute a trade quickly before the fundamentals change. I used the typical rates for I&M Bank and ended up with a small profit (.13%) excluding bank charges which are HUGE(2500 PER TRANSACTION).Now I think you are
onto something very good here as you say you already made 2% in this. How much are we talking about and can you please disclose the banks you use?
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The Merchant
#23 Posted : Thursday, August 05, 2010 12:47:04 PM
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Joined: 5/24/2010
Posts: 846
Location: KENYA
@extrapreneur... I am also an online currency trader on a proprietory basis so I am very curious to share any ideas with a fellow trader like you. Alot of investors on wazua are not forex traders and a few are mostly new in the game.
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Extrapreneur
#24 Posted : Tuesday, August 10, 2010 1:27:25 PM
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Joined: 7/26/2010
Posts: 25
Location: Nairobi
The Merchant wrote:
@extrapreneur... I am also an online currency trader on a proprietory basis so I am very curious to share any ideas with a fellow trader like you. Alot of investors on wazua are not forex traders and a few are mostly new in the game.


You are right. I have been exploring ways and means of innovating on forex trade and the possibilities are limitless. I shall be headed to Uganda by the end of the month to test my theory. I shall provide some feedback after that.
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The Merchant
#25 Posted : Wednesday, August 11, 2010 6:40:46 PM
Rank: Veteran


Joined: 5/24/2010
Posts: 846
Location: KENYA
@extrapreneur....Good to have you around and it is my hope that you will keep posting. Please enlighten us on the results of your experiment whether they are good or bad. Something may just arise from that. All the best in Uganda.
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StatMeister
#26 Posted : Thursday, August 12, 2010 12:25:09 PM
Rank: Veteran


Joined: 5/23/2010
Posts: 868
Location: La Islas Galápagos
Extrapreneur wrote:
The Merchant wrote:
@extrapreneur... I am also an online currency trader on a proprietory basis so I am very curious to share any ideas with a fellow trader like you. Alot of investors on wazua are not forex traders and a few are mostly new in the game.


You are right. I have been exploring ways and means of innovating on forex trade and the possibilities are limitless. I shall be headed to Uganda by the end of the month to test my theory. I shall provide some feedback after that.


Very curious, @extra, why are you testing / experimenting something you have been doing and making lots of money from?

http://www.wazua.co.ke/f...7939&f=4&q=94227
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Extrapreneur
#27 Posted : Thursday, August 19, 2010 3:55:17 PM
Rank: New-farer


Joined: 7/26/2010
Posts: 25
Location: Nairobi
StatMeister wrote:
Extrapreneur wrote:
[quote=The Merchant]@extrapreneur... I am also an online currency trader on a proprietory basis so I am very curious to share any ideas with a fellow trader like you. Alot of investors on wazua are not forex traders and a few are mostly new in the game.


You are right. I have been exploring ways and means of innovating on forex trade and the possibilities are limitless. I shall be headed to Uganda by the end of the month to test my theory. I shall provide some feedback after that.


Very curious, @extra, why are you testing / experimenting something you have been doing and making lots of money from?

http://www.wazua.co.ke/f...939&f=4&q=94227[/quote]

@StatMeister; well, I did a test run locally, and I did make some money, but the mode of transaction is very complicated and the profit margin too small to hedge any potential losses. The actual cross border version is what I plan to test, which promises larger margins and thus a better proposition.
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Extrapreneur
#28 Posted : Thursday, August 19, 2010 3:58:36 PM
Rank: New-farer


Joined: 7/26/2010
Posts: 25
Location: Nairobi
The Merchant wrote:
@extrapreneur....Good to have you around and it is my hope that you will keep posting. Please enlighten us on the results of your experiment whether they are good or bad. Something may just arise from that. All the best in Uganda.


@The Merchant; I shall surely keep the community posted. In addition, I am also currently testing another project that should radically change the way we all trade forex. My testing runs till end of October. Watch this space smile
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Stealth
#29 Posted : Saturday, August 21, 2010 6:51:43 PM
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Joined: 5/3/2010
Posts: 145
Location: East Africa
@ Extra
All the best on ur Ug trip. Waiting to hear from u.
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Metaur
#30 Posted : Thursday, May 02, 2019 1:58:45 PM
Rank: New-farer


Joined: 2/12/2019
Posts: 58
Is it still works this days ? At first I thought that it's about something which is I am not sure like offshore taxation rates, now when I visited the thread people are talking about how to earn some money in real life forex situtaion, I think you shouldn't rely on such case anyway;)
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