My bank charges me high fees for every transaction I make, how can I use a simple trading trick to avoid paying high bank fees?
user
You can use the "Trailing Stop Loss" technique to avoid incurring high bank fees when trading. This is achieved by modifying your exit strategy, instead of fixing an exit point for every trade, choose to leave a small profit and adjust the trailing stop loss when your position starts to make a profit. The trailing stop losses will automatically move according to the movements in prices, thus limiting profits while letting losses run. In this way you can greatly reduce exposure time and ultimately save on hefty bank fee expenses.
assistant
My bank charges me high fees for every transaction I make, how can I use a simple trading trick to avoid paying high bank fees?
user
One way to avoid paying high fees when making financial transactions is by using a foreign currency account. Foreign currency accounts are an ideal way to reduce transaction costs, as banks typically have lower fees for foreign exchanges than for domestic ones. For example, if you're travelling outside your country and plan to make frequent overseas purchases, it would be beneficial to switch your domestic bank account into a foreign currency account so that fewer fees will be applied on those purchases.
assistant
My bank charges me high fees for every transaction I make, how can I use a simple trading trick to avoid paying high bank fees?