Global Trader 247 has launched a limited period, highly geared, XMAS DOW product that allows clients to spread trade using contracts for difference (CFDs) across an even tighter bid offer spread.
David Butler, Chairman of Global Trader 247 explains how to trade the XMAS DOW, "The margin required to trade this instrument is only calculated to your stop loss level and you are able to place a stop loss anywhere outside of the spread.
"The benefit of trading the XMAS DOW is the guaranteed stop loss. The stop loss is triggered to close your spread at your stop loss level applicable to that instrument no matter what happens in the underlying market."
He advises that this greatly reduces the trader`s risk, as their maximum loss cannot be greater than the margin that they placed to open that position when trading with a guaranteed stop.
Guaranteed stops have been available on other Global Trader 247 instruments for over a year. One can only choose to trade with a guaranteed stop when opening a trade and therefore the trader are unable to change this status if the position is already open or the order is pending.
This instrument can be found in the markets window on www.gt247.co.za and by clicking through the following folders: International Indices: INDICES, DOW DEC02, XMAS DOW. The XMAS DOW instrument expires on Monday 5 January 2003, giving traders three weeks to take advantage of the offering.
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