razorforex
New Member
Hi,
New to FOREX, but, I have some finance experience although have yet to practice beyond the hypothetical. Need some help navigating the BRL market, I am US based which from my understanding limits some IB functionality.
In Brazil, I purchase a product which has a set value of 400 reais each unit regardless of USD/BRL exchange rate. It does not change with regard to weather, economy, supply etc. I sell a few thousand each week.
With exchange rates increasing I’ve seen an increase a decrease in profits as Reais/USD is now .19 as opposed to .17. This has changed cost from $68 USD to $76 decreasing profit $8 per unit.
In a few other threads I’ve read that I could use EWZ as a proxy for the reais, however, I was wondering if anyone has suggestions on the strategy to use and/or platforms which would support it.
New to FOREX, but, I have some finance experience although have yet to practice beyond the hypothetical. Need some help navigating the BRL market, I am US based which from my understanding limits some IB functionality.
In Brazil, I purchase a product which has a set value of 400 reais each unit regardless of USD/BRL exchange rate. It does not change with regard to weather, economy, supply etc. I sell a few thousand each week.
With exchange rates increasing I’ve seen an increase a decrease in profits as Reais/USD is now .19 as opposed to .17. This has changed cost from $68 USD to $76 decreasing profit $8 per unit.
In a few other threads I’ve read that I could use EWZ as a proxy for the reais, however, I was wondering if anyone has suggestions on the strategy to use and/or platforms which would support it.