One Way To Trade FXCM

Benzinga PreMarket Prep hosts Dennis Dick and Joel Elconin discussed on Thursday a way to trade FXCM Inc FXCM,

With the shares trading in the $2 range, Joel noted that he purchased March call options at the $5 strike price for a $0.10 premium.

Joel noted that with positive news helping the stock, one strategy would be wait for the stock to double and then sell half of the position, then he would be trading “with the house’s money.”

Dennis concurred that it can be a good strategy to lock in the profit after the position doubles or triples and then wait for further gains.

FXCM Inc recently traded at $3.04, up 30.47 percent.

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