Does anybody trade forex options?

[Thomas]

Am I the only one who trades forex options in here? I am looking for another (better) broker for this. At the moment I am using Saxo Bank but their comisions are way to expensive So if anybody have positive experience with a forex option broker I am very interested in hearing about it

Regards
The lonely options trader (Thomas)

[jorisvoorn]

Sorry mate,

I don't trade any fx options yet, is it rewarding for you (not taking the commisions in account ofcourse)

Regards

[Thomas]

I´m just getting started so it´s to early to say if it´s rewarding. But backtesting looks very interesting and the good thing about options is that the trade can go hundreds of pips against You and still end up profitable. I also like the way an option trade can be managed and adjusted.

[jorisvoorn]

Do you have maybe any recommendations so far for getting more information on that?
books, websites, videos?

I also like the way an option trade can be managed and adjusted.

It sounds very interesting, but you know I'm a sceptic first
I have to look more into that to make a better judgement about fx options.
So far I'm demo trading for a year and a half now and I feel really ready to go live.

Thanks in advance

[Thomas]

Ofcource one have to be sceptic in this game but the principles about fx options is exactly the same as with "ordinary" options. I like the added flexibillity with options compared to trading spot positions and I trade FX options because my interest is in forex and not in indexes and stocks etc.

My advice if You are unfamilliar with options and wants to try it out is to learn and understand what options are and how they works. You can just google "options" and You will get plenty of free material about it. I can also send You an ebook which have been a good help for me explaining different strategies including managing and adjusting open trades. Just send me Your email and I will send the ebook to You.

Best Regards
Thomas

[Jason Mraz]

Hi,
Forex trading requires would-be traders to be proficient in a number of disciplines, i.e., sentiment analysis, news trading, mental analysis, technical analysis and a lot more.

Thanks
Jason Mraz