subject: ForexSAS.com Review-The ticket to the high speed money train [print this page] ForexSAS.com Review-The ticket to the high speed money train
Foreign exchange (FOREX) investment is fraught with risk. You can, however, reduce and manage FOREX risks by controlling the amount of money you are able to lose. Risk reduction requires you to use reputable brokers, avoid leverage (investing with borrowed money) and limit losses. Alternatively, you can invest in FOREX binary options, where the quantity of potential loss is clearly defined. Finally, you can hedge your FOREX transactions, i.e. take partially offsetting opposite positions to lessen risk.
Instructions
1.Select a reputable online broker. You will find various kinds of Foreign exchange brokers, a number of whom bet against you whenever you trade. These risky brokers are known as market makers and you should prevent them -- their interests don't coincide with yours and they must constantly steer clear of the temptation to chop corners, for your detriment. For example, they might artificially lower prices just to have your position hit its stop-loss limit -- the price that is representative of the maximum loss you're prepared to accept -- making you secure a loss of revenue. Instead, use what is known as a non-dealing desk (NDD) broker; they don't trade against their customers. You are able to research brokers on the web, see Tips.
2.Pay full cash for your trades. Avoid margin buying, which is the acquisition of an asset on partial credit. Margin may be the area of collateral you put up to secure a trade. If you only pay a small amount of margin, brokers will quickly require more in case your position starts losing money. If you fail to supply more collateral, the broker will close your position and lock in your loss. Don't provide the chance.
3.Place a stop-loss order for every position you trade. If the cost of your FOREX currency pair -- FOREX is definitely traded in pairs -- hits the stop-loss price, your position will be automatically closed out. Should you set your stops near to current prices, you limit your potential losses but increase the chance of being stopped out. You must evaluate which of these two risks you dislike more.
4.Trade binary options instead of currency pairs. A binary FOREX choices a standardized contract that places a bet about the cost of a currency pair at the option's expiration. Expiration periods vary from a couple of hours to some week. When the option achieves the prospective price, its smart confirmed amount, usually $100. The amount you purchase a binary option (the premium) is situational, but is typically between $20 and $40. Binary options limit risk because the fees are probably the most you are able to lose inside a trade.
5.Hedge your positions. Hedging is a complex topic but is worth researching. Basically, you set counter-trades against your existing positions to lower risk -- the loss in a single position is (partially) offset with a grow in the counter-position.
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