Newbie question, protect a gain on the USA$
madeitbc
Posts: 1 ✭
I have slight understanding of options, but I do not want to trade it daily or even weekly. But as a newbie I do have one question that I am looking for an ideas. I have put some money into USA dollars, from Canada in 2011. Since that time the Canadian dollar has fallen 34% against the USA Greenback. I do not want to bring my money back for another 2 years, but I want to protect my 34% gain.
What position or trade does anyone think I should take to protect this position?
Thanks for your help beforehand
What position or trade does anyone think I should take to protect this position?
Thanks for your help beforehand
Comments
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I hope you already got the answer however my opinion is to invest the money with some profitable place, as you can't be able to preserve the 34 % gain due to fluctuation in currency value or either inflation. You may also try hedging by trading in binary options which is another good idea to get maximum returns from your investments. Or either if the amount is too much enough to buy a condo, why not try to get it. At the end of day you will have another asset ready to generate passive income. With the passage of time the value of your asset will eventually goes up... What are your thoughts..?
