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It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment. The U. Smodity Futures Trading Commission CFTC, which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non bank foreign exchange industry. "Retail traders are almost by definition undercapitalized. Thus they are subject to the problem of gambler's ruin. In a fair game one with no information advantages between two players that continues until one trader goes bankrupt, the player with the lower amount of capital has a higher probability of going bankrupt first. Since the retail speculator is effectively playing against the market as a whole which has nearly infinite capital he will almost certainly go bankrupt. The retail trader always pays the bid/ask spread which makes his odds of winning less than those of a fair game. Additional costs may include margin interest, or if a spot position is kept open for more than one day the trade may be "resettled" each day, each time costing the full bid/ask spread. According to the Wall Street Journal Currency Markets Draw Speculation, Fraud July 26, 2005 "Even people running the trading shops warn clients against trying to time the market. 'If 15% of day traders are profitable,' says Drew Niv, chief executive of FXCM, 'I'd be surprised.
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This means that it is time to sell.
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If you buy an option on a currency pair, you are gaining the right to purchase a currency pair at a set rate before a set point in time.
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currency trading online