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My First Spot-Forex/Option-Forex Hedge trade (1 viewing) (1) Guest
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TOPIC: My First Spot-Forex/Option-Forex Hedge trade
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Yoda_Glenn (User)
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My First Spot-Forex/Option-Forex Hedge trade 6 Months, 1 Week ago  
I want to know if I have done this basic Spot-Forex/Forex-Option Hedge correctly. So this is what I did, tell me if I did anything wrong:

I went long on the AUD/USD @ .7634. My take profit level is 150 pips from this entry price and my stop loss level is also roughly 150 pips from this entry level.

I then Bought (Ask) a AUD/USD Put Option with a strike price of .7500

Is this the correct way to do a basic Spot-Forex/Option-Forex Hedge? Am I missing any information? I really didn't calculate the value of the Spot Forex Lots vs. the Forex Option this time around...figured I would do it next practice trade. I just wanna see if I have grasped the basic concept correctly. Thanks!
 
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