Protect Account

[ptcman 10]

Hi.

 

I'm an IB's client and my account is Euro based.

Last week I lost almost $200 with this Euro fall against the dollar. My question is the following, how can I convert my Euro account into Dollar so I can protect myself against this Euro downtrend?

 

Yes, I could buy Dollars, shorting this way Euros, but can I do this?

At the moment I have no positions in my account, since I'm taking some time off, so is just the cash account, nothing else.

 

Initially I thought having the account in Dollars since I only trade US futures markets, but everytime I wanted to transfer money to my bank account I would need to convert, giving me possible losses. But now, I'm having losses, and I must protect the account.

 

Is there any text, book, or anyone that could explain how things work and the best way to manage the situation?

 

Incredible enough, I have more than 50 books regarding markets, but they are all about TA, or psychology. None explains markets functioning....

 

Regards.

[zdo 20]

One option is opening a small FX account and hedging your EUR against the USD when necessary using very simple medium or long time frame signals ...so you're not jumping in and out all the time, etc. hth