Chained trading possible?
Hi there
With all of the forex brokers one has to always close an open position. I am curious if it is possible to continue trading other pairs? For instance:
1) I enter long EURUSD (buying EUR for USD)
2) I start loosing but instead of closing the position or hedging it,
3) I enter short EURCHF or EURAUD (selling my EUR for CHF or AUD)
4) I close the position opened under 3) ending up with CHF or AUD on my account
Is there a broker out there who offers such trades? If not, why? I realise that one has to have accounts in multiple currencies to do so, but this is hardly a problem.
Thanks in advance!You can trade like that on any broker as long as your account can handle it
Yup, works like that inherently for most.
Well guys, I have an account with Dukascopy and it definitely doesn't work like that. If I enter a trade, I have to close it in the opposite direction. Would you mind pointing me to an ECN broker where this kind of trading works?
Thnaks
Well guys, I have an account with Dukascopy and it definitely doesn't work like that. If I enter a trade, I have to close it in the opposite direction. Would you mind pointing me to an ECN broker where this kind of trading works? Thnaks
US residents must close an order of a same symbol before opening a new order in different direction (or a US regulated broker, that is a SEC single pair hedging rule that all brokers must apply to US resident clients). If they do not allow you to open an order on another symbol in any direction you wish regardless of the opened position of an unrelated symbol ( honoring the above mentioned rules. and you have funds enough to do that), change the broker but as far as I checked there is no such rule as you described at Dukascopy.
OK, I see, I misspelled my question ... Dukascopy DOES allow to open as many orders as you like and to hedge your orders as you please. What I am talking about is transferring an order from one currency pair (EURUSD f.i.) to another (EURCHF) "on the fly", without the need of first closing it. And I am not talking about hedging. Hedging is the opening of a position in the opposite direction of the SAME currency pair (well, at least in its direct and most common form). What I'm meaning is settlement. Does anyone have a clue?
OK, I see, I misspelled my question ... Dukascopy DOES allow to open as many orders as you like and to hedge your orders as you please. What I am talking about is transferring an order from one currency pair (EURUSD f.i.) to another (EURCHF) "on the fly", without the need of first closing it. And I am not talking about hedging. Hedging is the opening of a position in the opposite direction of the SAME currency pair (well, at least in its direct and most common form). What I'm meaning is settlement. Does anyone have a clue?
Nobody will allow you to do what you are describing
Good luck
He does not want to do a regular trading procedure - one of the ideas that people think brokers did not think of
Essentially, most of the traders especially the newcomers are willing to trade in a high leverage for making profit instantl
Essentially, most of the traders especially the newcomers are willing to trade in a high leverage for making profit instantl
What does that have to do with chained trading?
you can trade in this with any broker you like. So do not hesitate to try this .
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Hi there
With all of the forex brokers one has to always close an open position. I am curious if it is possible to continue trading other pairs? For instance:
1) I enter long EURUSD (buying EUR for USD)
2) I start loosing but instead of closing the position or hedging it,
3) I enter short EURCHF or EURAUD (selling my EUR for CHF or AUD)
4) I close the position opened under 3) ending up with CHF or AUD on my account
Is there a broker out there who offers such trades? If not, why? I realise that one has to have accounts in multiple currencies to do so, but this is hardly a problem.
Thanks in advance!