I have never bought or sold currency options. With the U. S. dollar devaluation, I would kindly appreciate your description of how I may purchase currency options to try and overcome the U.S.dollar devaluation. I am a senior citizen with very limited experience in purchase and selling of stock options. Thank you Michael
Dear Michael
First of all I must apologise for the delay in responding to your email.
Whilst I can appreciate your concern about the weak dollar and your desire to hedge or protect your assets I am concerned that you are considering fx options given your lack of experience in any aspect of options trading. I am therefore sending you details of a link which explains the pros and cons of the present dollar predicament.
http://www.ise.com which is the largest exchange for fx options. They have an excellent resource section, video tutorials, webinars etc. You may also wish to look at the CME – Chicago Mercantile Exchange and the CBOE – options.
Once you have completed your background research you will have to find a suitable broker. I hope the above help and I do admire your willingness to continue to learn about the financial markets, but PLEASE do not rush in – do your research first and start small
Once again apologies for the delay, good luck and let me know how you get on.
Kind regards.
Anna
February 22nd, 2009 at 12:51 pm