Hot Tip!炎热的冰山! The FOREX market is so large and has so many participants that no single trader, even a central bank, can control the market price for an extended period of time.外汇市场这么大,有这么多的参与者,任何单一买卖,连中央银行,能控制市场价格在一个较长的时期.
One of the big reasons that forex trading is an entirely different animal than stock trading or futures trading is leverage.其中一个大原因,外汇买卖是一种完全不同的动物,比股票或期货买卖是杠杆. Forex trading leverage can be enormous, as high as 400:1, and in most cases you get to choose the amount of leverage or gearing you want to trade with.可巨大的杠杆外汇买卖,高达400:1,在大多数情况下,你会选择金额或者杠杆传动想要贸易.
Super high leverage is a selling point for many online forex brokers.超高杠杆是许多网上外汇经纪为卖点. How many times have you seen the tout �control $100,000 of euro for $250′?多少次见过兜-控制十万欧元250'? Those numbers are correct, and, yes, the profit potential of super high leverage is compelling.这些数字是正确的,当然,超高的潜在利润杠杆是迫不得已.
This article neither encourages nor discourages forex trading at super high leverage.这篇文章既不鼓励,也不阻止在超高杠杆外汇买卖. That’s a personal decision, but a decision that can only be made sensibly with a professional understanding of all the implications of leverage and what they mean to your chances of prospering at forex trading.那是个人的决定,但只能作出理智的决定,以专业的认识和利用一切影响他们对你的意思的机会,在外汇买卖欣欣向荣. It’s probably fair to say that unless you have a professional understanding of leverage that your chance of even surviving at forex trading is slim to none.这大概可以说,除非你认为你的专业认识杠杆的机会渺茫,甚至尚存在外汇买卖是首屈一指的.
Hot Tip!炎热的冰山! The FOREX market is always a good market.外汇市场永远是一个良好的市场. FOREX trading involves selling or buying one currency against another.外汇交易涉及收购或出售一种货币对另一.
One of the fundamental terms of forex trading is PIP.其中一个基本条件就是外汇买卖点子. You will see that XYZ Broker charges 3 PIP per deal, or that the XY currency pair has an average daily range of 100 PIP.你会看到某某经纪费,每三月点子交易或者说,平均每天有一双XY条货币射程100点子. We all know that the value of a PIP is a variable that differs with each currency pair, but did you know that the value of a PIP also varies with the current price of the base currency, and with the gearing on your account?大家都知道,一个点子值是每一个变数不同货币组合但你可知道,一个点子的价值也不同,目前的价格基准货币传动与你账?
For example, with EUR/USD at 1.2723 and leverage at 100:1 the amount of a PIP is $7.86.例如,欧元/美元为1.2723,在100:1的杠杆金额达78.6一个点子. At 200:1 leverage the PIP value doubles to $15.72.在斜杆的点子15.72美元升值一倍. For forex traders with different gearing a 100 PIP move means entirely different things to their account equity.为外汇买卖不同传动方式提出了100个点子,他们完全是两回事股票帐户.
Here’s a new way to look at leverage with the “K Factor”.这里的新途径来看杆与"K仔"因素. The three most common leverage ratios available from online forex brokers are 50:1, 100:1 and 200:1.三个最常见的杠杆比率可从网上外汇经纪50、100:1和光线. The K Factor for the 100:1 leverage ratio is 1.的K系数为100:1杠杆比率为1. The K Factor for the leverage ratio of 50:1 is .50, and the K Factor for the leverage ratio of 200:1 is 2.的K系数为0.50,是杠杆比率50、钾和光线因素的杠杆比率是2.
Hot Tip!炎热的冰山! On most forex charts, it is the BID price rather than the ask price that’s displayed on the chart.大部分外汇图表,它的成交价,而不是问价的图表展示. Remember that a price is always quoted with a bid and an ask (or offer).记得价格总是以引用的申办要求(或提供).
How can you use the K Factor?你如何使用的K系数?
There are three ways to use the K Factor.有三种方法使用的K系数. The first is using the K Factor to calculate the value of a PIP for the currency pair you are trading.一是利用系数计算的K值为一个点子你交易货币组合.
Since 100,000 individual currency units (usually dollars or euros) is the normal size of a single lot you can calculate the value of a PIP with this formula:自从100,000个人货币单位(通常美元或欧元)是一般大小的一个地段,你可以计算一个点子,这个价值公式:
(100,000/current price with no decimal) * K Factor = PIP(100,000/现价无小数)*系数=钾点子
Here’s an example: The EUR/USD current price is 1.2723 and your leverage is 100:1.这里的一个例子:欧元/美元当前价为1.2723,你是100:1杠杆. With these facts the formula is:这些事实的公式:
Hot Tip!炎热的冰山! No insider trading.无内幕交易. Because of the way Forex is ‘de-centralised’, it is almost impossible for anyone to fraud the system.由于外汇的方式是'德统一',这几乎是无法让人欺诈制度.
(100000/12723) * 1 = 7.86.
The value of a PIP is $7.86.价值78.6元的点子. If your forex broker executes your trade at a spread of 4 PIPs you are paying $31.44 for executing the trade whatever euphemism the broker happens to be using for �commission’.如果你在一个贸易外汇经纪处决你散布你付出400元31.44点子施贸易经纪人恰好是委婉什么用?委员会'. If your leverage or gearing is 200:1 that execution will cost you $62.88.如果您是传动杆或光线,会使你处决62.88元.
The second way you can use PIP and the K Factor is to quickly determine the potential profit in a trade, or to know to a certainty the actual dollar risk in a stop-loss setting.第二种方案,你可以用很快的K系数是确定潜在利润在贸易、还是知道了一个确切的实际价风险停止损失定.
For example, if you go long the EUR/USD at 1.2723 and anticipate a move to 1.2850 what profit can you anticipate at 100:1 gearing?例如如果你走漫长的欧元/美元在1.2723至1.2850,预期此举究竟能否获利预期在100:1传动?
12850 - 12723 = 127 PIP * 7.86 = $998.22 - execution cost.12850-12723=127*7.86=$998.22点子执行成本.
If you objectively set your stop loss at 1.2715 what amount are you risking in this trade?如果你确定你们停止在客观65991.2715你冒这个数额什么行业?
Hot Tip!炎热的冰山! The FOREX market is the most liquid market in the world so that traders can enter or exit the market whenever they want with minimal execution barriers or risk and no daily trading limit.外汇市场是世界上最流通的市场,使商人可以在进入或退出市场的时候,他们想要与执行障碍或风险很小,没有每日交易限额.
12723 - 12715 = 8 PIP * 7.86 = $62.88 + execution cost.12723-12715=8*78.6=点子+执行成本62.88美元.
The third way to use the K Factor is to avoid what the forex brokers call the “safety net”, and what I call “kill but do not dismember.”第三种利用钾的因素是什么,避免外汇经纪称之为"安全网"、而我所谓的"杀人而不肢解"
Margin is not a down payment.保证金并非定金. It’s cash-on-hand, your cash, that the broker uses to protect its own capital account from your mistakes.它的手头现金,你现金的经纪人用途,以维护自身资金帐户从你的错误. That’s all well and good because the global forex market will continue to work only if all participating brokers have adequate capital to meet their customers’ settlement obligations.那是一个好主意,因为世界外汇市场会继续努力,只有所有参加经纪人有足够的资金应付客户的结算义务.
If losses from current open positions cause the equity in your account to fall below that required to maintain the total number of open positions, the broker’s trading platform will immediately close all your open positions, even when the unrealized loss on any individual position is quite small.如果目前未平仓造成损失的股权,在您到低于所需数目维持平仓,经纪人的交易平台将立即关闭所有你平仓,即使个别位置的账面损失较小. Your loss is the aggregate number of PIP per position * K Factor + execution costs.你损失总数百分之位置点子*钾因子+执行成本. In almost every case that’s just about everything in your account.几乎在每一个案件的公正处处在你帐户. This is the broker’s safety net because you will not lose more cash than you had in your account (as can and does happen with commodities futures accounts.)这是经纪人的安全网,因为你不会失去更多的现金,你比你帐户(如是否能与商品期货帐户发生).
The formula is:公式是:
(Starting Balance - Open Position Losses) / (($1,000/K Factor)* No. Open Positions) -1 < 10% = Kill But Do Not Dismember.(出发平衡平仓亏损)/((1000美元/钾因子)341280平仓)-1"=10%,但不杀死肢解.
Most if not all broker platforms keep a running balance of your available margin to help you avoid this fatal situation.大部分如果不是全部经纪平台运行保持平衡,你可以帮助你避免这种致命的保证金状况. If you intend to trade multiple positions and fade into suspected price turning points you should consider setting up this formula in a spreadsheet so that you get an early warning long before the situation goes critical.如果你打算多次表态和贸易价格转折点褪色成疑你应该考虑设立此一公式试算,让你得到预警早下去危急.
Hot Tip!炎热的冰山! FREE ‘DEMO’ ACCOUNTS, NEWS, CHARTS AND ANALYSIS: Most Online Forex firms offer free ‘Demo’ accounts to practice trading, along with breaking Forex news and charting services.免费的演示帐户、新闻、图表、分析:大多数外汇公司提供免费上网的演示帐户实行交易随着外汇新闻与图表破局. These are very valuable resources for traders who would like to hone their trading skills with ‘virtual’ money before opening a live trading account.这些都是非常宝贵的资源,商人想锻炼其交易技巧与'虚拟的钱,然后开到现场交易.
Mini accounts are based on 10,000 individual currency units with different margin requirements so make the necessary adjustment in the above formulas before doing the calculations.迷你帐户是基于10,000货币单位与个人等不同幅度的要求作出必要的调整,才做上述公式计算.
(c) 2006 by Peter Amaral.(三)2006彼得阿马. Peter is the creator of the http://www.tradingfives.com website and author of several easy-reading ebooks on the exotic trading techniques of the legendary master traders like JM Hurst and WD Gann .彼得是造物主的http://www.tradingfives.com网站和作者几易阅读电子书的异国传奇技术交易商喜欢JM的赫斯特和师父罗茨GANN的. Much of the information about stock, futures and forex trading on Tradingfives is unique and not available anywhere else.许多资料股票,期货和外汇交易tradingfives独特且不详首位.