James Garrett Baldwin 2015年9月21日
了解外汇交易需要详细了解各个国家的经济和政治形势,全球宏观经济波动在特定的市场的影响。但是通常不是经济或者全球金融状况阻碍外汇投资者。相反，基本的杠杆使用知识是交易损失的根源。
据有效数据显示大多数外汇交易员都是亏损的。而杠杆的滥用通常是损失的原因。本文将解释高杠杆在外汇交易市场的风险，概括抵消高杠杆风险的方法并且教授读者如何选取适合他们的杠杆。
高杠杆的风险
杠杆是一个投资者借钱投资或者购买物品的过程。在外汇交易中，资金通常在交易商处获得。外汇交易员通过初始保证金能够借大量资金，他们能够从成功的交易中获取更大的利润。
过去，许多经济商都能提供高达400：1的杠杆。这也就是说，只需要入金250美元，交易员在外汇市场就可以控制大约100000美元。然而，2010年出台的监管规定限制美国交易员只能使用最高杠杆达50：1。这也就意味着，入金250美元，交易员只能控制12500美元。
那么一个新的交易员该选择多大的杠杆呢？在回答问题之前，需要先看看例子显示的不同杠杆的损失和获利。
使用最大杠杆的例子
设想一个交易员拥有一个1万美金的账户。决定使用50：1的杠杆，那么意味着他的交易金额可以高达50万美元。在外汇交易中，这意味着5个标准手。在外汇交易中有三个基本的交易规模：1标准手（10万单位报价货币），微型手（1万单位基础货币），迷你手（1千单位报价货币）。市场运动用点测量。一标准手每一点变动代表10个单位货币变化。
因为该交易员购买了5个标准手，每一点的移动将会价值50美元。如果向相反方向运动50点，该交易员将会损失2500美元。这相当于账户总价值的25%。
使用小一点杠杆的例子
让我们来看一下另一交易员。她选择更加保守的5：1的杠杆。如果该交易员也有一个1万美元的账户，她将可以交易5万美元的货币。每个微型手价值1万美元。在微型手中，每点变化价值1美元。因为该交易员持有5个微型手，每点变化价值5美元。
如果她的交易以相同的点数失败，也就是50点，那么该交易员将会损失250美元。这仅仅是总账户的2.5%。
怎样选取正确的杠杆水平
被广泛接受的规则是交易员在选取杠杆之前仔细审核。三个最简单的杠杆规则是：
1.维持低水平杠杆；
2.使用跟踪止损减小下跌和保护资金；
3.每笔交易的费用限制在总仓位的1%到2%。
外汇交易员应该选择使他们感觉到最舒服的杠杆。如果你十分保守不喜欢承担风险，或者你还在学习如何交易货币，一个低水平的例如5：1或者10：1的杠杆则更加适合你。
跟踪和限制止损为交易员提供了一个可靠的减小损失的方式。通过使用限制止损，投资者能够在交易失败时以很小的损失学习到怎样交易。这些止损在影响交易员情绪上也十分重要，他们能使交易员不带情绪的离开交易界面。
总结
选择正确的杠杆取决于交易员经验、风险承受能力和在进行交易的时候没有压力。新的交易员在学习怎样交易并积累经验时应该熟悉术语并且保持保守。使用追踪止损、持有小仓位并限制每笔交易的资金是学习适当管理杠杆的一个好开始。
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.
本文翻译由兄弟财经提供
文章来源：
http://www.investopedia.com/articles/forex/092115/how-much-leverage-right-you-forex-trades.asp