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Linden doller TRADING in LINDENX as a profession |
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Sabre Xue
Registered User
Join date: 30 Jun 2008
Posts: 3
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11-23-2008 01:45
hey i was wondering can somone like SELL lindens in the lindenX for a good rate and then use the USD credit from it to BUY at a lower rate and thus keep on doing that to make money???,,is that legal???,,and if it is!! any help on that and how to get the currency trader trading limit status to do that??
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Cristalle Karami
Lady of the House
Join date: 4 Dec 2006
Posts: 6,222
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11-23-2008 02:17
hey i was wondering can somone like SELL lindens in the lindenX for a good rate and then use the USD credit from it to BUY at a lower rate and thus keep on doing that to make money???,,is that legal???,,and if it is!! any help on that and how to get the currency trader trading limit status to do that?? Yes, you can do it. Yes, it is legal. How do you do it? I don't know, but I think it takes a lot of scratch to begin with. Put in a ticket and ask LL. _____________________
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DancesWithRobots Soyer
Registered User
Join date: 7 Apr 2006
Posts: 701
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11-23-2008 06:04
Recently, there was a post somewhere about buying low and selling high to make a small profit.
Problem is, the 3.5% the LL takes on all transactions drains a lot of it. _____________________
"Two lives I have.
One life I live. One life I dream. In dreams I remember the better in me." |
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Atashi Toshihiko
Frequently Befuddled
Join date: 7 Dec 2006
Posts: 1,423
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11-23-2008 06:47
I don't know if you could do it just on the Lindex alone - the L$ does not fluctuate enough over a daily or weekly period, and the buy-sell spread on the Lindex is pretty much exactly the 3.5% that LL takes.
The posts I have read about making money on the L$ currency usually involve another exchange, like buy on Lindex and sell at SLX (or maybe it was sell on Lindex and buy on SLX...) Anyhow, it was using the spread on two different exchanges to make some money. Still, the margins are very thin so you need to be moving significant amounts around to see any real gain. -Atashi _____________________
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