Using Options in Forex Trading Using Standard Deviation in Trading

Using Options to Hedge

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Options are a great way to hedge against your existing positions to decrease risk. Some traders even use options instead of, or together with stop-loss points. The primary advantage of using options together with stops is that you have an unlimited profit potential if the price continues to move against your position.
Source: http://www.investopedia.com/articles/trading/04/101304.asp