Help-Learning The Ropes

Beginner Questions
1

Hi , my name is Wendy and Im in the UK . Im currently stranded at home
due to illness and have been set some practice assignments by my college.
I was wondering if any kind soul would guide me as I am a beginner in this field !

I have been given a notional $250,000 to trade on the Forex futures market , and am restricted to :
EURO/US$
BRITISH POUND/US$
JAPANESE YEN/US$

I`m wondering how to start trading , I was thinking of going short on the
Japanese Yen by trading 10 contracts and maybe going long on the Euro by trading 5 contracts to start off .
Round turn commission is $25 per contract and the Margin requirements on futures contracts are as follows (initial/maintenance) :
YEN ($4860/$3600)
POUND ($3915/$2900)
EURO ($6345/$4700)

Could anyone guide me as to working out my initial figures to start me off on this ?
Hope I`m not being a nuisance
Many thanks
Wendy

2

Any ideas anyone ?
Take pity on a poor housebound Brit :wink:

3

I think most of the members here trade spot forex, not futures.

Hopefully someone with knowledge will be able to advise you.

4

Thanks so much for answering. Ive been thrown in at the deep end to try and master this on my own-I have to trade for 10 consecutive days and try and make a profit plus justify my choices ! Not easy when you havent a clue !
Thanks again

5

Not sure how to help with the calculation of futures but people will probably help with trade direction.

What are your reasons for going Short Yen/USD and Long EUR/USD?

Cheers

6

Im a bit embarrassed to say that I thought short Yen only because the Japanese economy seems to be in turmoil while the Euro is just a hunch thing. I only have 10 days to trade so can stop contracts in minutes if I like,so if the Euro rises Ill just say , right thats enough , and cash in (told you I was a newbie:o)

Thanks for replying
Wendy