Currency Trading

Bengt Thuree bengt at thuree.com
Thu Apr 27 22:54:46 EDT 2006


Hi Guys

I am currently working on the Currency chapter in the guide, and would
like to have some help with clarifying an issue a bit.

I am not doing currency trading myself, so I would really appreciate some
hints and tips here.

As far as I understand the below is the way to do it. Or have I missed
something?

1) Doing a currency transfer to another bank account
     (with another currency), and a service charge.
2) Manually setting the Exchange Rate, since you will
     get one specifically from the bank for this transaction
3) Online updates of quotes...
4) Another currency transfer to another bank account later

But how to record the Capital Gains?
I can see two options
A) A normal Currency Transaction with the new accurate exchange rate.
   Not possible to check capital gain/loss

B) Same as when you sell a stock.
   Do the currency transaction with the correct exchange rate.
   Transfere money from Income:Capital Gain/Loss

Any suggestions or recommendations?

/bengt

-- 
Bengt Thuree   bengt at thuree.com



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