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IRAs and Forex

Discussion in 'Beginners Bootcamp' started by denny hieber, Jun 27, 2011.

  1. denny hieber

    denny hieber Recruit

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    I understand that some forex companies will accept IRA rollover into an active forex trade. I would like to do that by placing it in a trade selling the dollar against the Swiss Frank. I am thinking this is a good idea because the Frank gained about 24% this past year over the Dollar. My question is this a good idea? And if it is, with 10k to rollover how many lots do I choose. I would like to do as much as possible that would still leave room for a 700 pip swing (the ability to absorb that spike and not cloose me out) should that happen. Also, what broker or kind of broker would be the best to place this type of trade? Any feedback that you could offer would be appreciated.

    Thanks,

    Denny
     
  2. Soji4x

    Soji4x Private

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    hmmmn... i am planning something similar...
    check fxchildsplay, and see if you can apply their system
     
  3. Pharaoh

    Pharaoh Colonel

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    You are talking about long term, low-leverage trading. Start with a list of reliable brokers. You can do your own research or ask F-Man for a professional opinion on this. Then look for the one with the best swap rates. If the negative swap rates are too high, they can take some or all of your profits.

    Alternatively, if your IRA can hold cash, see if it can hold Swiss Franks instead of USD. This only gives you 1:1 leverage, but lets you use 100% of your available balance with rollover charges each night.
     

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