Hi, On average my account (in USD) is neutral in Euro's. I have never hedged the currency risk before, but it seems like a good idea to start doing that. Any pointers, ideas for strategies to limit the risk? If you hedge the risk, how and what rules do you use?
I use a currency acct with OANDA You can buy any quantity of EUR?USD here, no minimum so you can hedge your acct by buying back the EUR/USD
Do you just buy your whole account back in EUR or do you use a specific method to position yourself into the currency trend?
I just buy back my whole acct. If I want to trade the EUR/USD I can take another position with OANDA or just trade the futures. Don't mix things up !!
IB are going to have 24 hour fx dealing into a bank and an electronic exchange. See last nights chat transcript.
I look in www.cmcforex.com, look good, CMC claimed you fund are insured by FSA or something up to 70k pounds. I never used them, I discover it while looking for an alternative to currency future. Currency Futures are ok, but it is not full 24 hours. Especially going to IB, when Asian market open, IB is down for maintenance.
In the transcript of the IB chat from yestarday, you can read that IB are going to use redundance Server (2x) for to eliminate this down problem, but no time frame for that.