James Garrett Baldwin 2015年9月21日
了解外匯交易需要詳細了解各個國家的經濟和政治形勢,全球宏觀經濟波動在特定的市場的影響。但是通常不是經濟或者全球金融狀況阻礙外匯投資者。相反，基本的槓桿使用知識是交易損失的根源。
據有效數據顯示大多數外匯交易員都是虧損的。而槓桿的濫用通常是損失的原因。本文將解釋高槓桿在外匯交易市場的風險，概括抵消高槓桿風險的方法並且教授讀者如何選取適合他們的槓桿。
高槓桿的風險
槓桿是一個投資者借錢投資或者購買物品的過程。在外匯交易中，資金通常在交易商處獲得。外匯交易員通過初始保證金能夠借大量資金，他們能夠從成功的交易中獲取更大的利潤。
過去，許多經濟商都能提供高達400：1的槓桿。這也就是說，只需要入金250美元，交易員在外匯市場就可以控制大約100000美元。然而，2010年出台的監管規定限制美國交易員只能使用最高槓桿達50：1。這也就意味著，入金250美元，交易員只能控制12500美元。
那麼一個新的交易員該選擇多大的槓桿呢？在回答問題之前，需要先看看例子顯示的不同槓桿的損失和獲利。
使用最大槓桿的例子
設想一個交易員擁有一個1萬美金的賬戶。決定使用50：1的槓桿，那麼意味著他的交易金額可以高達50萬美元。在外匯交易中，這意味著5個標準手。在外匯交易中有三個基本的交易規模：1標準手（10萬單位報價貨幣），微型手（1萬單位基礎貨幣），迷你手（1千單位報價貨幣）。市場運動用點測量。一標準手每一點變動代表10個單位貨幣變化。
因為該交易員購買了5個標準手，每一點的移動將會價值50美元。如果向相反方向運動50點，該交易員將會損失2500美元。這相當於賬戶總價值的25%。
使用小一點槓桿的例子
讓我們來看一下另一交易員。她選擇更加保守的5：1的槓桿。如果該交易員也有一個1萬美元的賬戶，她將可以交易5萬美元的貨幣。每個微型手價值1萬美元。在微型手中，每點變化價值1美元。因為該交易員持有5個微型手，每點變化價值5美元。
如果她的交易以相同的點數失敗，也就是50點，那麼該交易員將會損失250美元。這僅僅是總賬戶的2.5%。
怎樣選取正確的槓桿水平
被廣泛接受的規則是交易員在選取槓桿之前仔細審核。三個最簡單的槓桿規則是：
1.維持低水平槓桿；
2.使用跟蹤止損減小下跌和保護資金；
3.每筆交易的費用限制在總倉位的1%到2%。
外匯交易員應該選擇使他們感覺到最舒服的槓桿。如果你十分保守不喜歡承擔風險，或者你還在學習如何交易貨幣，一個低水平的例如5：1或者10：1的槓桿則更加適合你。
跟蹤和限制止損為交易員提供了一個可靠的減小損失的方式。通過使用限制止損，投資者能夠在交易失敗時以很小的損失學習到怎樣交易。這些止損在影響交易員情緒上也十分重要，他們能使交易員不帶情緒的離開交易界面。
總結
選擇正確的槓桿取決於交易員經驗、風險承受能力和在進行交易的時候沒有壓力。新的交易員在學習怎樣交易並積累經驗時應該熟悉術語並且保持保守。使用追蹤止損、持有小倉位並限制每筆交易的資金是學習適當管理槓桿的一個好開始。
How Much Leverage Is Right for You in Forex Trades
By James Garrett Baldwin | September 21, 2015
Understanding how to trade foreign currencies requires detailed knowledge about the economies and political situations of individual countries, global macroeconomics and the impact of volatility on specific markets. But the truth is, it isn’t usually economics or global finance that trip up first-time forex traders. Instead, a basic lack of knowledge on how to use leverage is often at the root of trading losses.
Data disclosed by the largest foreign-exchange brokerages as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act indicates that a majority of retail forex customers lose money. The misuse of leverage is often viewed as the reason for these losses. This article explains the risks of high leverage in the forex markets, outlines ways to offset risky leverage levels and educates readers on ways to pick the right level of exposure for their comfort.
The Risks of High Leverage
Leverage is a process in which an investor borrows money in order to invest in or purchase something. In forex trading, capital is typically acquired from a broker. While forex traders are able to borrow significant amounts of capital on initial margin requirements, they can gain even more from successful trades.
In the past, many brokers were able to offer significant leverage ratios as high as 400:1. This means, that with only a $250 deposit, a trader could control roughly $100,000 in currency on the global forex markets. However, financial regulations in 2010 limited the leverage ratio that brokers could offer to U.S.-based traders to 50:1 (still a rather large amount). This means that with the same $250 deposit, traders can control $12,500 in currency.
So, should a new currency trader select a low level of leverage such as 5:1 or roll the dice and ratchet the ratio up to 50:1? Before answering, it’s important to take a look at examples showing the amount of money that can be gained or lost with various levels of leverage.
Example Using Maximum Leverage
Imagine Trader A has an account with $10,000 cash. He decides to use the 50:1 leverage, which means that he can trade up to $500,000. In the world of forex, this represents five standard lots. There are three basic trade sizes in forex: a standard lot (100,000 units of quote currency), a mini lot (10,000 units of base currency), and a micro lot (1,000 units of quote currency). Movements are measured in pips. Each one-pip movement in a standard lot is a 10 unit change.
Because the trader purchased five standard lots, each one-pip movement will cost $50 ($10 change/standard lot X 5 standard lots). If the trade goes against the investor by 50 pips, the investor would lose 50 pips X $50 = $2,500. This is 25% of the total $10,000 trading account.
Example Using Less Leverage
Let’s move on to Trader B. Instead of maxing out leverage at 50:1, she chooses a more conservative leverage of 5:1. If Trader B has an account with $10,000 cash, she will be able to trade $50,000 of currency. Each mini-lot would cost $10,000. In a mini lot, each pip is a $1 change. Since Trader B has 5 mini lots, each pip is a $5 change.
Should the investment fall that same amount, by 50 pips, then the trader would lose 50 pips X $5 = $250. This is just 2.5% of the total position.
How to Pick the Right Leverage Level
There are widely accepted rules that investors should review before selecting a leverage level. The easiest three rules of leverage are:
1.Maintain low levels of leverage.
2.Use trailing stops to reduce downside and protect capital.
3.Limit capital to 1% to 2% of total trading capital on each position taken.
Forex traders should choose the level of leverage that makes them most comfortable. If you are conservative and don’t like taking many risks, or if you’re still learning how to trade currencies, a lower level of leverage like 5:1 or 10:1 might be more appropriate.
Trailing or limit stops provide investors with a reliable way to reduce their losses when a trade goes in the wrong direction. By using limit stops, investors can ensure that they can continue to learn how to trade currencies but limit potential losses if a trade fails. These stops are also important because they help reduce the emotion of trading and allow individuals to pull themselves away from their trading desks without emotion.
The Bottom Line
Selecting the right forex leverage level depends on a trader’s experience, risk tolerance and comfort when operating in the global currency markets. New traders should familiarize themselves with the terminology and remain conservative as they learn how to trade and build experience. Using trailing stops, keeping positions small and limiting the amount of capital for each position is a good start to learning the proper way to manage leverage.
本文翻譯由兄弟財經提供
文章來源：
http://www.investopedia.com/articles/forex/092115/how-much-leverage-right-you-forex-trades.asp