The margin requirements are extremely low for pairs like NOK/JPY and SEK/JPY.
At least with my broker FXCM.
These pairs also move a lot more especially when EUR/USD is in bullish mode which is where we are headed in the coming weeks I believe.
It would have only took $10,000 in margin to have traded a $1,000,000 lot in these pairs.
I was in this JPY trade earlier this week my only regret was that I didn't use more leverage, although I know this is greed talking.
However, leverage is like any other powerful tool it must be used with great skill.
The bottom line is that with these pairs SEK/JPY, NOK/JPY you have the option but you are not obligated to use such serious leverage.
Another important thing to consider is that these aren't even risky "exotic" currencies yet they still make bigger moves than the majors do.
I know this is the GBP/JPY thread but GBP crosses require serious margin, etc.
At least with my broker FXCM.
These pairs also move a lot more especially when EUR/USD is in bullish mode which is where we are headed in the coming weeks I believe.
It would have only took $10,000 in margin to have traded a $1,000,000 lot in these pairs.
I was in this JPY trade earlier this week my only regret was that I didn't use more leverage, although I know this is greed talking.
However, leverage is like any other powerful tool it must be used with great skill.
The bottom line is that with these pairs SEK/JPY, NOK/JPY you have the option but you are not obligated to use such serious leverage.
Another important thing to consider is that these aren't even risky "exotic" currencies yet they still make bigger moves than the majors do.
I know this is the GBP/JPY thread but GBP crosses require serious margin, etc.
Trade at your own risk.