[Egana]

Thanks a million for the answer, would you please support on the following as well (hopefully the last question):

– If I bought December futures on 31 December, I would also have to sell them the same day i.e. for instance $1.6 per pound as a purchase and selling price – so doesn’t it mean that I anyway wouldn’t be able to make a profit even if the spot is different from the purchase price?

– I slightly don’t understand the mechanism of how futures work, I mean if I buy the futures, I have to sell them back, so basically the futures are used for trading only. So how can I convert the currency using the futures if I have to sell the futures I bought and, in the end, I will not have any futures.

Thank you,
Yegyana

[Egana]

That was helpful and much appreciated!
Have a nice day ahead:)

[Egana]

Hello John,

Hope you are doing well.

Just wanted to thank you a lot for the explanation I was looking for, much appreciated!!

[Author]

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