Position U-Turns
Many brokers allow opening positions in the opposite directions for the same currency pair. Sometimes they call it hedging, sometimes they call it locking (LOCK). Many traders find this function useful. Forex Club takes an extra step and allows reversing positions, for example LONG for SHORT without closing it and fixing current P/L. Here is an example of how it works: For example you have opened a position BUY 500,000 GBP/USD. Later you have noticed that the market is going in the opposite direction and you decided to change your position from BUY 500,000 GBP/USD to SELL 500,000 GBP/USD. To do so, simply make one trade SELL 1,000,000 GBP/USD and your position will change its direction from BUY to SELL. The new opening rate will be automatically calculated and your current PL will be transferred from your original position. Trade Smart. Trade with Forex Club. |
