Dollar raising against Euro!! What's the best option.

Tight Ted

Not such a good thing for us players who are more inclined to deposit than withdraw!

I've got a cool 1k that I'm looking to ship to a site. Am I better putting my money somewhere where I can hold my money in Euro? I don't wanna lose out on a couple of hundred if the Euro gains a bit more leverage against the dollar. I'm thinking party is a good option, I hear it's a fish market, also, any Ipoker options that offer a healthy rakeback + holding funds in €?

RoundTower

laugh at all the people who insisted the only prudent thing to do was to hedge against the dollar falling 6 months ago?

brianmc

RoundTower wrote: »

laugh at all the people who insisted the only prudent thing to do was to hedge against the dollar falling 6 months ago?

Hedge now if you haven't though :-)

Try not to laugh at my face in 6 months time if I'm wrong

SuperHans

It's always a good idea to hold as much of your bankroll as is feasible in Euro unless you have expertise in FX dealing which most don't. Hindsight is a great thing in regard to people's opinions on currency fluctuations and what you should have done etc.
You should try to eliminate as much as possible the effect that such changes have on your poker earning/bankroll.
I know that GJP(ipoker) have on option to hold your account in euro which also has decent cashback.

Grafter

Tight Ted wrote: »

Not such a good thing for us players who are more inclined to deposit than withdraw!

Great opportunity to change a very bad habit.

A few months ago $200 was getting me £90 sterling, now it's more like £130.

BCB helped start a great well on 2+2 by Ben Grundy.

Fascinating that in the millions, he still likes the bankroll discipline that badbeat imposes.

Lose three buyins? Come back tomorrow.

On a personal level, try deposit $200 and lose, take a week off. Double to $400 and cash out half.

Once you start winning more than once a week, you're laughing

TripleAce

Which iPoker software show amounts in € ? So far I only found Titan and VC.....when I used to have accounts in Chili, PPP, Boyle and GJP was always shown in $ - not sure this has changed now....

Ace2007

TripleAce wrote: »

Which iPoker software show amounts in € ? So far I only found Titan and VC.....when I used to have accounts in Chili, PPP, Boyle and GJP was always shown in $ - not sure this has changed now....

you can choose what currency to have as your "bank" on most ipoker sites, but once you choose you can't change...

RoundTower

Ace2007 wrote: »

you can choose what currency to have as your "bank" on most ipoker sites, but once you choose you can't change...

not exactly. lol its a big secret

NickyOD

So set up a neteller a/c in euros and keep your roll there.

Tight Ted

I never knew netteller had a pokerroom.

AdMMM

It doesn't.

You transfer money to and from there to poker rooms.

Ace2007

Tight Ted wrote: »

I never knew netteller had a pokerroom.

lol priceless

Tight Ted

AdMMM wrote: »

It doesn't.

You transfer money to and from there to poker rooms.

You would be losing money every time you exchange from a dollar site back to your netteller site. + deposits back to netteller are painfully slow.

phantom_lord

i wouldn't really about currency fluctuations with 1k, it's going to a negligible amount, the thing about having a €€€ account is that you'll probably get screwed on the table exchange rate, esp on party.

AdMMM wrote: »

It doesn't.

You transfer money to and from there to poker rooms.

i think he knew that.

TripleAce wrote: »

Which iPoker software show amounts in € ? So far I only found Titan and VC.....when I used to have accounts in Chili, PPP, Boyle and GJP was always shown in $ - not sure this has changed now....

i think most skins offer it at this stage, all my accounts are in euros, the likes of ppp and gjp give u the option of holding your money in a euro denominated sports book.

Tight Ted

phantom_lord wrote: »

i wouldn't really about currency fluctuations with 1k, it's going to a negligible amount, the thing about having a €€€ account is that you'll probably get screwed on the table exchange rate, esp on party.

Phantom. When you buy into the table with $, you buy your € back with the exact same rate. So i'm not sure that you are being screwed on the table exchange rate.

I'm pretty clueless TBH though.

Chucky the tree

Carlos, betfred. PPP, VC, GJP all have euro acc's.

Macspower

Tight Ted wrote: »

You would be losing money every time you exchange from a dollar site back to your netteller site. + deposits back to netteller are painfully slow.

you shouldn't be paying any transaction fees to neteller for transfer to/from poker sites... I don't with ipoker and full tilt anyway..

full tilt are instant and ipoker depends on skin but most are only a few hours once you have withdrawn the first time

zuutroy

You don't pay a fee, they just bone you on the exchange rate

WECpoker

hedging the Euros v Dollars is a good and practical idea for those that must hold money in one currency

Dont get to gambling in that market as it can hurt you badly and fast...

But if you use it strictly to hedge against the exact money you hold it will even things out for you (and currency trades are margined at 10 to 1 so it doesnt take a lot of money).

They have at least one Micro forex account out there where the broker is even giving $25 to start a small account with no deposit required and the ability to hedge $9000 in currency. <see cnbc site>

I stress to be careful...if you do not hedge properly or think it is a good gambling game you can be out all of your lifetime savings in a day