Start Learning Forex Now: We Provide Tutorial in EN / 中文.
Forex Malaysia 马来西亚外汇

Reason Cause of Death of Forex Traders 外汇交易首要死因: Page 5 of 8

Facebook icon

See How Leverage Can Quickly Wipe Out Your Account

Leverage Overdose

Let the image above haunt you about the negative effects of using too much leverage and running out of margin.

Hopefully, we’ve done our job and you now have a better understanding of what “margin” is. Now we want to take a harder look at “leverage” and show you how it regularly wipes out unsuspecting or overzealous traders.

We’ve all seen or heard online forex brokers advertising how they offer 200:1 leverage or 400:1 leverage. We just want to be clear that what they are really talking about is the maximum leverage you can trade with. Remember this leverage ratio depends on the margin required by the broker. For example, if a 1% margin is required, you have 100:1 leverage.

There is maximum leverage. And then there is your true leverage.

True leverage is the full amount of your position divided by the amount of money deposited in your trading account.

Huh?

Let us illustrate with an example:

You deposit $10,000 in your trading account. You buy 1 standard 100K of EUR/USD at a rate of $1.0000. The full value of your position is $100,000 and your account balance is $10,000. Your true leverage is 10:1 ($100,000 / $10,000)

Let’s say you buy another standard lot of EUR/USD at the same price. The full amount of your position is now $200,000, but your account balance is still $10,000. Your true leverage is now 20:1 ($200,000 / $10,000)

You’re feeling good so you buy three more standard lots of EUR/USD, again at the same rate. The full amount of your position is now $500,000 and your account balance is still $10,000. Your true leverage is now 50:1 ($500,000 / $10,000).

Assume the broker requires 1% margin. If you do the math, your account balance and equity are both $10,000, the Used Margin is $5,000, and the Usable Margin is $5,000. For one standard lot, each pip is worth $10.

10,000 USD Balance, 10,000 USD Equity, 5,000 USD Used Margin, 5,000 USD Usable Margin

In order to receive a margin call, price would have to move 100 pips ($5,000 Usable Margin divided by $50/pip).

This would mean the price of EUR/USD would have to move from 1.0000 to .9900 – a price change of 1%.

After the margin call, your account balance would be $5,000. You lost $5,000 or 50% and the price only moved 1%.

Now let’s pretend you ordered coffee at a McDonald’s drive-thru, then spilled your coffee on your lap while you were driving, and then proceeded to sue and win against McDonald’s because your legs got burned and you didn’t know the coffee was hot. To make a long story short, you deposit $100,000 in your trading account instead of $10,000.

You buy just 1 standard lot of EUR/USD – at a rate of 1.0000. The full amount of your position is $100,000 and your account balance is $100,000. Your true leverage is 1:1.

Here’s how it looks in your trading account:

100,000 USD Balance, 100,000 USD Equity, 1,000 USD Used Margin, 99,000 USD Usable Margin

In this example, in order to receive a margin call, price would have to move 9,900 pips ($99,000 Usable Margin divided by $10/pip).

This means the price of EUR/USD would have to move from 1.0000 to .0100! This is a price change of 99% or basically 100%!

Let’s say you buy 19 more standard lots, again at the same rate as the first trade. The full amount of your position is $2,000,000 and your account balance is $100,000. Your true leverage is 20:1.

100,000 USD Balance, 100,000 USD Equity, 20,000 USD Used Margin, 80,000 USD Usable Margin

In order to be “margin called”, price would have to move 400 pips ($80,000 Usable Margin divided by ($10/pip X 20 lots)).

That means the price of EUR/USD would have to move from $1.0000 to $0.9600 – a price change of 4%.

If you did get margin called and your trade exited at the margin call price, this is how your account would look like:

20,000 USD Balance, 20,000 USD Equity, 0 USD Used Margin, 0 USD Usable Margin

You would have realized an $80,000 loss! You would’ve wiped out 80% of your account and the price only moved 4%!

Do you now see the effects of leverage?!

Leverage amplifies the movement in the relative prices of a currency pair by the factor of the leverage in your account.

杠杆的副作用

上图告诉你使用过多杠杆和用光保证金的副作用,愿它一直萦绕在你的脑海里。

希望我们完成了任务,你已经能很好的理解什么是保证金。现在我们要来看看“杠杆”,向你展示它是如何摧毁毫无戒心的狂热的交易者的。

我们都看到或听过在线外汇经纪商做广告宣传他们可以提供200:1或400:1的杠杆。我们要清楚他们实际上说的是你可以用以交易的最大杠杆。记住这个杠杆比率取决于经纪商要求的最小保证金数额。例如,如果需要1%的保证金,你就有了100:1的杠杆。

这是最大杠杆。然后才是你实际使用的杠杆。

实际杠杆是你全部头寸除以你交易账户中的资金总额。

啊?

让我们举例说明:

你的交易账户中有1万美元。你在1.0000购入一标准手欧元/美元。你的头寸总价为10万美元,你的账户结余是1万美元。你实际的杠杆是10:1(10万/1万)。

假设你以相同价格又购入一标准手欧元/美元。你的头寸总价现在为20万美元,但你的账户结余是1万美元。你实际的杠杆是20:1(20万/1万)。

你感觉很好,又买入了三标准手欧元/美元,还是以相同的价格。现在你的头寸总价为50万美元,你的账户结余仍是1万美元。你实际的杠杆是50:1(50万/1万)。

假设你的经纪商要求的保证金是1%。计算一下,你的账户结余和账户净值都是1万美元,占用保险金是5千美元,可用保证金是5千美元。一标准手,每点价值10美元。

要收到追加保证金通知,价格需要变动100点(5千美元可用保证金除以50元/点)。

这意味着欧元/美元要从1.0000下移到0.9900——价格变化1%。

收到追加保证金后,你的账户结余会变为5千美元。你损失了5千美元或50%,价格只变动了1%。

假设你在麦当劳汽车餐厅点了一杯咖啡,然后在开车时将咖啡洒在了电脑上,之后准备去起诉麦当劳汽车餐厅,因为你的腿烫伤了,你不知道咖啡是烫的。简而言之,你的交易账户里的资金是10万美元而不是1万美元。

你以1.0000购入一标准手欧元/美元。你的头寸总价为10万美元,你的账户结余是10万美元。你实际的杠杆是1:1。

你的交易账户将如下图所示:

在这个例子中,要收到追加保证金通知,价格需要变动9900点(9万9千美元可用保证金除以10元/点)。

这意味着欧元/美元要从1.0000降至0. 0100!价格变化为99%或接近100%。

假设你又以与第一笔交易相同的价格买了19标准手。你的头寸总价为200万美元,你的账户结余是10万美元。你实际的杠杆是20:1。

要收到“追加保证金通知”,价格需要变动400点(8万美元可用保证金除以(10元/点X 20手))。

这意味着欧元/美元要从1.0000降至0.9600——价格变化为4%。

如果你收到了追加保证金通知,你在追加保证金价格离场,结束交易。你的账户将如下图所示:

你损失了8万美元!你清空了你账户的80%,而价格仅变动了4%!

看到杠杆的作用了吗?!

通过计入了你账户中的杠杆,杠杆放大了货币对相对的价格变动。