外汇交易和获利可能

FX trading and profit possibilities

该文是由五部分组成的系列文章中的第一篇,整个系列讨论了外汇交易与投资及其带给中国国内银行和客户的获利机会。第一部分分析了在股票投资、固定收益证券、房地产、私人股本投资和商品这些传统资产类型中进行选择所面临的结构风险,以及他们可能带来的业绩限制。第二篇致力于说明货币作为一种资产类型能够带来的优越的投资回报,在某些情况下,其风险/报酬关系甚至比其它较为传统的资产类型更吸引人。第三篇和第四篇力图帮助中国机构——具体而言,就是散户投资者、公司、机构、对冲基金和自营业务发展外汇交易业务。最后一篇文章讨论了外汇交易策略,其中包括对活跃交易商和交易员的访谈。该文由路透集团特约提供。

This article is the first in a five part series addressing FX trading and investing, and the profit opportunities they present domestic Chinese banks and their clients. This piece analyzes the structural risks confronting traditional asset class selections, namely, equities, fixed income, real estate, private equity, and commodities, and the performance limitations they may impose. The second article endeavors to justify currencies as an asset class capable of delivering superior investment returns with, in some cases, a more attractive risk/reward profile than more conventional asset classes. The third and fourth features seek to help Chinese institutions cultivate FX trading businesses, specifically, retail, corporate, institutional, hedge fund, and proprietary operations. The concluding article discusses FX trading strategies, and includes interviews with active traders and dealers. The article is sponsored by Reuters.