BUYING GBP

Evil_kitten
Evil_kitten

I know I'm not the only noob that want's to know this.
So the GBP crashed 10% and I want to buy their slimy money while it's cheap. I have 40k AUD and no idea where or how to turn it into GBP. The banks will charge me like 30%, and most of the other gold merchants will be slow to adjust their exchange rates.

How do I buy me some bong cash?

Also general make money from kekxit thread.

All urls found in this thread:
https://www.zacks.com/commentary/84020/brexit-panic-7-ways-to-trade-the-vote
w8t4u
w8t4u

As an Australian I am also curious. Is there an ASX listed GBP fund to make this easy?

Bidwell
Bidwell

@Evil_kitten
Now it's not the time , the GBP is under heavy stress atm. For sure the price will drop with more or less than 2-3 %. Stay calm and make money from Brexit.

likme
likme

@Bidwell
Alright but how do I go about buying it when the time comes? I feel it's my duty as a convict to to make money from their misfortune.

Methshot
Methshot

@Bidwell
should I just wait for GBP to bottom out then buy?

Methnerd
Methnerd

@Bidwell
The top ones on google seem to be Xtrade and something with a 500 in it, but neither looks particularly good desu - what platform does Veeky Forums use?

RavySnake
RavySnake

This seems to show a good rate, pretty similar to the current exchange rate. like .5% difference i think.

WebTool
WebTool

it's too late you fucking newfags.

LuckyDusty
LuckyDusty

@Bidwell
How do I make money off of brexit?

SomethingNew
SomethingNew

holy fuck I wish I knew how to do that kind of shit.

this is how people get rich.

likme
likme

@SomethingNew
or go broke.

Playboyize
Playboyize

@likme
putting in money you can't spend
Retards will be retards.

Methshot
Methshot

@Playboyize
i was specifically referring to that person since he looks like he has that get rich quick with little effort mentality. and those people 9/10 end up in debt or declare bankruptcy or even an hero. try again tho faggot.

Emberfire
Emberfire

@Methshot
I'd like you to point out where his post shows such a mentality behind it.

You can get rich on disposable income.
You can even get "rich quick" on it if you learn to take advantage of market hilarities and spooks.

All these idiots trying to buy now are already too late anyway.
They could have been rich quick if they had some forethought a few days ago.
Now they are stuck on the long-term.

VisualMaster
VisualMaster

@Emberfire
What would you have done with forethought? Just trying to learn.

FastChef
FastChef

@Bidwell
You can't simply ask when is the time. In this business the flow of trade markets is not a sure thing.Regarding your duty to make money from others misfortune is not your path to success.
@Methshot
Waiting atm is a key note. Most of the people choose to cry in the corner but with save points you'll get the opportunity to cash on some buck.
@Methnerd
Choose wisely , Veeky Forums will not pick your platform.
@LuckyDusty
At this right moment you can't, I mentioned stress before. Political decisions in general are not the best way to cash in something you don't understand. Turn your head from making fast buck from this event.

Dreamworx
Dreamworx

@VisualMaster
Take advantage of the possible future exchange rate.

If the UK left, Pound and Euro were going to shit itself hard.

If they never, you just convert your money back, basically no harm done.
Now you can only take advantage of the long progressive climb of pound.
Euro is probably dead soon.
More countries parties want to leave the EU.
It has had a domino effect.

If in Europe, the same applies. Euro will sink a slow death.
Take advantage of that by buying other monies and converting back to Euro every major period you feel happy with. (in increments of 50% sell, that is)
Or buy some resources.

King_Martha
King_Martha

@Dreamworx
That works if you already own the currency, or live in the EU. How do you take advantage from say the US or Australia?

SomethingNew
SomethingNew

@King_Martha
Can't. It would be pretty stupid to do if outside the UK nations.

Outsiders will need to go full market trickery to take advantage of the collapsing industries.

Housing, textiles, cars are going to crash.
Cars will likely not recover.
Most of our car jobs were multinationals and they went to the EU or Arab nations.
Textiles, we will never compete with Germany.

idontknow
idontknow

@King_Martha
The big short dog

Gigastrength
Gigastrength

@Evil_kitten
You get GBP by not being a dick to your mom. Don't blow em all on tendies.

Skullbone
Skullbone

@King_Martha
Just open an account with IG index and sell or buy gbp/usd for £2 a pip.

I lost £400 getting stopped out by banking on a remain win,

Should have sold instead.

AwesomeTucker
AwesomeTucker

Don't buy any GBP yet. It's gonna go into a free fall the likes of which you've never seen. Buy GBP around the UK election time.

StrangeWizard
StrangeWizard

@AwesomeTucker
When does the UK election come?

whereismyname
whereismyname

@StrangeWizard

October.

Harmless_Venom
Harmless_Venom

@whereismyname
@StrangeWizard
No General election yet; only leadership change in the Conservative party (my money is on Theresa May)

Does Veeky Forums think the Monetary policy of the Bank of England on July 14th will make a difference? create certainty?
Still waiting for Chancellors statement.

viagrandad
viagrandad

@Evil_kitten
https://www.zacks.com/commentary/84020/brexit-panic-7-ways-to-trade-the-vote

happy_sad
happy_sad

@Harmless_Venom

Good question. That is the biggest uncertainty, whether or not the policy announcement will matter or not, even less so than what the policy actually is. The deciding factor will be what happens between now and July 14, not the outcome but rather the perceptions of how Brexit will affect EU trade during this time.

Nojokur
Nojokur

@Bidwell
What about a dead cat bounce? Should jump when Asian markets open, then crash again.

Lunatick
Lunatick

@AwesomeTucker

I fucking hope so but something tells me the financial fear mongering is overblown and it won't be as bad as people think

likme
likme

@Lunatick

I agree completely. I also expect the GBP to be pushed artificially low by speculators with the intent of "punishing" the British population. Since we all know market economics is all about confidence, it's important that we remain confident, steady and patient, especially when there is a lack of all three perpetuated by the media.

When the media is telling you the world is gonna end, it's probably a good time to buy and hold. Why? BecUse they're trying to push everyone else out of the market so they can buy at a discount, then watch it roar back.

Really, has the media EVER been right about the state of the Economy? Nope. Is that an accident? Definitely not.

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