I’ve been trading spot forex and CFDs for a while now, but I keep seeing people mention options trading on currency pairs and other assets. I’m curious about what others are doing here.
Do you guys actually trade forex options, or do most of you stick with the traditional spot market and CFDs? I’m wondering if options are worth learning about or if they’re just too complicated for someone like me.
What are the main advantages of trading options versus just buying and selling currencies directly? Is the learning curve steep? I’d love to hear about your experiences and whether you think it’s worth expanding into options or if I should just focus on getting better at what I’m already doing.
Any insights would be really helpful since I’m trying to figure out my next steps in trading.
Stick with spot and CFDs until you’re consistently profitable for at least a year. Options have time decay that can eat away at your trades. You also need to understand Greeks like delta and theta. Many retail traders struggle more with options due to their complexity. Spot forex is tough enough. Focus on position sizing, risk management, and price action first. Options won’t help if you can’t handle the basics. Build a solid foundation before complicating your strategy.
I prefer spot trading and CFDs because they are easier to manage and give me better control over my trades.
I experimented with options before, but the costs and complexity made it challenging to maintain profitability. Get comfortable with spot trading before considering options.