4 Reasons NOT to Open a Ruble Forex Account

Hello everyone. Today I will try to answer the question "Which currency should you open a forex account in?"

Well, who among us is not a patriot? Who among us does not honor the image of the Tsar and our native currency? Unfortunately, our native currency does not always return the favor. And forex accounts opened in rubles hide a concealed threat...

There are 4 main reasons why you should not open a forex account in rubles.

Just think for yourself: how are developers of expert advisors, indicators, and so on supposed to know what rubles are? Are you familiar with the currency of Zimbabwe? Me neither.

Therefore, programmers (including Russian ones) always make software assuming the deposit balance is in dollars. If you have an account opened in rubles and you install some expert advisor with auto lot calculation, the robot will start opening huge trades on your account. Why? Because it will think your balance is in dollars.

In short, calculating lot size on a ruble account will break your brain. On a dollar account everything is calculated easily and simply; I described my method for calculating the optimal lot for each trade here.

There are already enough emotions in forex. Why increase their impact? Fluctuations on an account in rubles cause Russian traders much more anxiety than some conditional units. After all, most of us earn and spend money precisely in rubles, not dollars. Therefore, we perceive the loss of, say, 1000 rubles more strongly than the loss of 30 dollars. Although in essence, it is the same money...

Inflation in Russia in 2012 amounted to 6.6%. That is, your savings in rubles "became cheaper" by almost 7% over the year. And since we know the government's love of "embellishing" reality, in practice we have a loss of around 10%. Do you need that?

In the United States, annual inflation is around 2%. That is, 3-4 times lower than in the Russian Federation. I think everyone studied at school and has already figured out mentally which currency is more profitable for storing funds. Not only in forex.

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Respectfully, Pavel
TradeLikeaPro.ru