In its report, The Journal gives an example of a Saxo Bank client who believed they'd been stopped out when the franc hit around 1.18 against the euro, only to have that trade repriced with the franc valued at 0.96, increasing this customers' losses by €2000. And so instead of closing all clients' trades at their stop, Saxo Bank is repricing some trades to, "better reflect the market’s chaotic conditions that day," according to The Wall Street Journal. When the Swiss Franc moved quickly, a huge number of stops were triggered. Many currency bets, therefore, will have tight "stops," or a level at which their position is automatically closed, so that losses don't create a situation in which they are faced with a "margin call," or a requirement to put down more money or sell out of positions. Any losses over $100, then, would be the responsibility of the trader to cover. So a trader might post say $100 and get $1000 to trade from its broker. Written with all the power and conviction that made THE FOUNTAINHEAD and ATLAS SHRUGGED classics of American letters, Ayn Rands ANTHEM is a hymn to mans. In currency trading, daily fluctuations are so small that margin is used, often in large amounts, in an effort to capitalize on these small moves. Account icon An icon in the shape of a person's head and shoulders.
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