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Managing Risk FOREX.com
Forex with Avanza?
Has anyone done Forex trading with Avanza?, I have been having a look at it, but looks a bit weird inside Avanza.....I went inside this so called "Avanza Markets" but, they show the currency pairs in a weird manner, with some weird names, that makes me confused... I have not been able to find a clear, for example, EUUSD pair to trade. Anyone using Forex trading in Avanza?, if yes, can ISK account's benefits be used for Forex?
I cannot find a US Broker that trades ISK (Icelandic Krona). However, I am not sure if my research is accurate - i am not 100pct sure their ads are only listing popular pairs, not all the pairs they offer. Ive looked ar Oanda, forex dot com, and td ameritrade and as far as i can tell, they do not. I know ISK trading was suspended in 2008 during their banking crisis but assume it is resumed? Are there any UK or Eu brokers that handle it? Im having a hard time googling any useful information other than currecy conversions. Any help appreciated, thx
I'm new here, this is actually my first post. I worked in Iceland, this Summer, and since I've noticed that the value of the krona just keeps on falling, I was wondering if I should exchange the ISK I saved to EUR (or even GBP, since I'm in the UK, now). Does anyone actually know, with some certainty, whether the ISK will just keep on dropping or actually improve, in the next 10 months?
I did a cursory search for the best foreign exchange rates in Chicago but it didn't return any relevant results. I am wondering if there is a forex outlet (preferably downtown) that reliably offers better rates than the banks? For example, where I live in Canada, an outlet downtown offers rates on the order of 1% better than my retail bank. Comments recommending I take out USD in Canada or use my Credit/Debit card are not helpful in this case :) Currently I am looking at: http://www.chicagoforeigncurrency.com/ Perhaps someone has experience with them? For those curious as to why... I have leftover Icelandic Krona (ISK) I want to exchange to USD. To do so in Canada would require ISK +FEE CAD +FEE USD. I would rather just do the following ISK +FEE USD. I appreciate your consideration and help.
Auroracoin needs Currency code ISA before it can fully supercede ISK
For future-proofing I recommend using the ISO currency code ISA instead of AUR, as the ISO-codes ISA through ISZ are reserved for Iceland. AU codes, including AUR, are reserved for Australia. So, if the new currency looks like displacing the ISK, then it will have a further advantage for being theoretically acceptable by SIX standards and more easily handled in mainstream forex and financial accounting systems. http://en.wikipedia.org/wiki/ISO_3166-1 The discussion about XBT for Bitcoin which is also relevant here. https://bitcointalk.org/index.php?topic=148229.0
Forex Risk Management Tools. Risk management is all about executing positive expectation trades while using leverage responsibly. The following forex risk management tools can help you complete this task: 2% Rule: This strategy states that between 1% and 3% of the trading account balance may be put into harm’s way on a single trade. Forex risk management is one of the most debated topics in trading. On one hand, traders want to reduce the size of their potential losses, but on the other hand, traders also want to benefit by getting the most potential profit out of each trade. And there's a common belief that in order to gain the highest returns, you need to take greater risks. Forex Risk Management Strategies That You Should Know. What is the risk in forex trading? Risk is the potential for uncontrolled loss of capital in trading. Leverage in trading is a borrowed capital to increase the potential returns and in the forex market, high leverage is up to 1:1000. So traders can trade with more money than they have. In the end, forex trading is a numbers game, meaning you have to tilt every little factor in your favor as much as you can. In casinos, the house edge is sometimes only 5% above that of the player. But that 5% is the difference between being a winner and being a loser. FOREX.com is a registered FCM and RFED with the CFTC and member of the National Futures Association (NFA # 0339826). Forex trading involves significant risk of loss and is not suitable for all investors. Full Disclosure. Spot Gold and Silver contracts are not subject to regulation under the U.S. Commodity Exchange Act.
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