"The dollar is zigzagging, falling below the 90 yen mark Friday and testing the depths it plumbed against the euro a year ago. That kind of action is music to the ears of investors such as Ray Firetag.Oyh.
As most of America slept on a recent Monday night, Mr. Firetag was in front of his computer in Elk Grove, Calif., wagering on the Australian dollar.
Gold, silver and oil had slipped, and trading in Asian stocks had been weak. The 43-year-old speculator figured the Australian dollar, strongly tied to commodities, would spurt higher against the Japanese yen, then fall as investors overseas responded to weaker commodity prices. He was right, and his trade proved profitable.
"I love this work," says Mr. Firetag, who last year left a 14-year career in real estate to trade currencies online full-time. He says he turned his initial $50,000 investment into "something north of seven figures."
The WSJ: small investors make big bets on currencies . It is so appealing because of the "vast leverage available, sometimes as much as 500:1". Only good things can come of this:
