Not unlike the Dollar Trend arena, the Forex Marathon arena enables traders
to take advantage of general trends in the market concerning the currency of their
choice. A trend is a general movement in a certain direction, and is considered
by some to be the most indicative and reliable market feature.
What this means is: this arena lets traders trade the U.S. Dollar, Euro, British
Pound, or Japanese Yen against multiple currencies, allowing them to take advantage
of general trends in the strength of a specific currency.
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Click on the Forex Marathon
icon to enter the arena. |
Upon entering the arena you'll be presented with the following screen:
This screen seems similar to the opening screen of the Forex Trend arena, but in
fact you are now asked to choose a currency which you would like to buy against
other currencies. This means that you will necessarily be speculating on the rising
trend of this currency.
Once you choose the currency you wish to buy, you will be presented with your next
decision:
But before you decide which currencies to set your chosen currency against, you
should click on the "Set Risk/Reward Level" box to select your desired leverage.
If you neglect to set the leverage before you open your trade, the risk/reward level
will remain on its default setting, which is x200.
You must now select which currency or currencies you want your chosen currency to
compete against. Mind you, even if according to your trend research your currency
is generally on the rise, you may still expect for it to fall against certain
currencies, therefore you should consider your choice carefully.
Once you've chosen the competing currencies, you will be asked to choose the amount
you wish to trade for:
Since we've selected to pair the US Dollar up against three different currencies,
at a leverage of x200, the minimum amount we can now trade for is $150, $50 for
each currency. The amounts differ according to the number of currencies selected
to compete against your currency of choice, and according to your risk/ reward level.
Notice that the rates for your selected currency pairs are now displayed in the
left section of the screen.
Clicking on the "Open Trade" button opens the trade.
Let's see what happens once we open the trade:
We've selected the US Dollar as our candidate, and as we can see in this example,
while it's beating the Japanese yen, it's not doing so well against the British
pound. The currency you choose to buy is always marked by an asterisk on the marathon
track.
To save you the hassle of adding and subtracting your profits and losses for each
individual currency, you can see your overall profit on the bottom of the screen.
It's also important to notice that while the three open trades on screen were opened
as one trade, it is possible to close the trade of each currency individually by
clicking on the close button near the appropriate currency. You can also close the
trade and finish the marathon as a whole by clicking on "Close Trade".
