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Quoting ukmanthailan
I hate to disagree with you fti, but there is absolutely no way that retail forex brokers could operate a margin system of good faith. Can you imagine the losses they might be chasing from customers if they allowed 24 hours for everybody to make good on margin calls? I do see that the combination of high leverage and instant liquidiation provides an easy way for them to take out unwary retail traders but if they were to follow the margin practices of brokers on regulated exchanges, I fear that many of us would not be granted an account in the first...
Thank You ukman.
i not providing solutions.
I just stating fact, operationing conditions.

regards

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Quoting fti
Hello my friends, sorry for all the fiasco today. I had done much soul search and thoughts. Certain facts are very clear to me now. 1. I just realised that Old Ego today became very big. Who am I these day, but and old gun trying to keep pace with changed times. Have the good fortune to have many trader friends, learning old stuff from me. And giving me much respect. Markets not recognise me any more neither does system and i just waiting my time expire. Such Big Ego thinking i can bring honour and fairness into a new industry i hardly know. Who's...

Thank you very much for all you have done. The stuff you have shown is unikue and it is a "way", how to think and develop ourselves not only in trading... It is universal from this point. I value you as my friend. It is you, who directed my focus to more valuable thinks in life. I was simple and careless before. I hope, that i become to develop the right values in life, that impulse and door to this "studies", that was from you. Everytime, you are welcomed in my house. Best Regards
Quoting fti
{quote} Thank You ukman. i not providing solutions. I just stating fact, operationing conditions. regards
I for one am glad that you are raising these thought provoking issues as it does cause me food for thought. I have not been involved in market making so as a retail technician, this causes me to consider risk strategies which I welcome having to do, so thankyou FTI. There may well come a time when I will sufficiently expose myself to such manipulation and live to regret it.

So to that extent, your continued input is much valued.
The road to pipland is arduous and fraught with challenge.
Quoting ukmanthailan
I hate to disagree with you fti, but there is absolutely no way that retail forex brokers could operate a margin system of good faith. Can you imagine the losses they might be chasing from customers if they allowed 24 hours for everybody to make good on margin calls? I do see that the combination of high leverage and instant liquidiation provides an easy way for them to take out unwary retail traders but if they were to follow the margin practices of brokers on regulated exchanges, I fear that many of us would not be granted an account in the first...

Online retail FX is a relatively new business model and the way I suspect capitalism is headed. If you consider that this is rapidly becoming a form of self employment across the world, especially in Asia, it is a win win, bad practices notwithstanding. I suspect FTI longs for the days when a much more regulated capital was not as accessible to the common man. That horse bolted with the advent of Thatcherite economics. Nonetheless, his warnings are a salutary reminder of the need to be risk aware.
The road to pipland is arduous and fraught with challenge.
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Quoting traider
{quote} Online retail FX is a relatively new business model and the way I suspect capitalism is headed. If you consider that this is rapidly becoming a form of self employment across the world, especially in Asia, it is a win win, bad practices notwithstanding. I suspect FTI longs for the days when a much more regulated capital was not as accessible to the common man. That horse bolted with the advent of Thatcherite economics. Nonetheless, his warnings are a salutary reminder of the need to be risk aware.
I cannot speak for fti of course, but I seriously doubt that he "longs for the days when a much more regualted capital was not as accessible to the common man". If that were the case, why on earth would he have devoted so much time and energy to this thread in an effort help some of us common men?

As I already said, I cannot speak for fti, or anybody else for that matter, but it is my opinion that it is the business practices of retail forex brokers and the possibilities for price manipulation in an unregulated OTC market that bother fti - more specifically, the potential this combination has for seriously damaging the wealth of small and less experienced traders. He has always sought to warn us of the potential for cutting off one's own head when using the trading MO outlined at the beginning of this thread and I think he feels some responsibility for encouraging our participation in a market that may be less honourable than he had initially imagined. He should not feel any such responsibility because each one of needs to look after our own interests but this is the way that honourable men think, in my opinion.

Now, that's an awful lot of conjecture on my behalf as to how another man thinks and I hope it causes no offence but I feel very strongly that your comment was way off the mark.
Quoting ukmanthailan
{quote} I cannot speak for fti of course, but I seriously doubt that he "longs for the days when a much more regualted capital was not as accessible to the common man". If that were the case, why on earth would he have devoted so much time and energy to this thread in an effort help some of us common men? As I already said, I cannot speak for fti, or anybody else for that matter, but it is my opinion that it is the business practices of retail forex brokers and the possibilities for price manipulation in an unregulated OTC market that bother fti...
I do not think my remark reflects negatively on FTI and if it is so misconstrued, that was not the intention. I for one, as a lawyer, regret the loss of the ethics my profession was noted for. That is an entirely natural reaction. However, the trading market (and legal profession) decades ago are a far cry from the business models both have adopted, today. And that is as a consequence of the deregulation of both sectors in the follow up of the opening up of capital from regulation, generally. That isn't going to change as regulation is further whittled away.

Anyways, I had better take my leave so as to avoid any further offence as that is all my rather agnostic comments appear to have aroused.
The road to pipland is arduous and fraught with challenge.
If you feel the need to flounce, that's up to you but please don't leave on my account. I am sure we can trade opinions without getting our knickers in a twist.
Quoting ukmanthailan
If you feel the need to flounce, that's up to you but please don't leave on my account. I am sure we can trade opinions without getting our knickers in a twist.
I'm not leaving. I have been a member on this website for quite a while and will continue to stop by when there's anything of use that comes up. But there's little point making a contribution on this thread when emotions run high on fairly neutral comments. No one is getting anything from said comments and time is being wasted, for everyone.
The road to pipland is arduous and fraught with challenge.
Quoting traider
{quote} I'm not leaving. I have been a member on this website for quite a while and will continue to stop by when there's anything of use that comes up. But there's little point making a contribution on this thread when emotions run high on fairly neutral comments. No one is getting anything from said comments and time is being wasted, for everyone.
Speaking for myself (for a change!), my emotions are not running high, I merely disagreed with one of your "agnostic comments". Perhaps I misunderstood your meaning, it is easy to do so in online forums. If you think that debating the point is a waste of time then I respect your decision not to bother discussing it further. However, as this is a public forum, I feel there is nothing wrong in making my opinions known, just as you have with yours. It's not a platform for either of us to announce our points of view and demand for them to go unopposed.
Quoting ukmanthailan
{quote}Speaking for myself (for a change!), my emotions are not running high, I merely disagreed with one of your "agnostic comments". Perhaps I misunderstood your meaning, it is easy to do so in online forums. If you think that debating the point is a waste of time then I respect your decision not to bother discussing it further. However, as this is a public forum, I feel there is nothing wrong in making my opinions known, just as you have with yours. It's not a platform for either of us to announce our points of view and demand for them to go...
It's not a question of being unopposed or not. It's simply a statement of fact. As the global economy deregulates, we will find more excessive outcomes as capitalism's virtue, greed, gives effect to natural consequences. I've seen this all across the business community, as a tax lawyer. That tends to be the extent of my contribution on web communities for traders. Technically, I contribute nothing as my style is pretty discretionary.

If my contributions arouse offence, that pretty much ends it for me. I've no hard feelings though. I'll still drop in if I find that there is something that adds to my knowledge.
The road to pipland is arduous and fraught with challenge.
Quoting traider
{quote} It's not a question of being unopposed or not. It's simply a statement of fact. As the global economy deregulates, we will find more excessive outcomes as capitalism's virtue, greed, gives effect to natural consequences. I've seen this all across the business community, as a tax lawyer. That tends to be the extent of my contribution on web communities for traders. Technically, I contribute nothing as my style is pretty discretionary. If my contributions arouse offence, that pretty much ends it for me. I've no hard feelings though. I'll still...
I agree that everything you posted above is fact but
Quote
I suspect FTI longs for the days when a much more regulated capital was not as accessible to the common man
is clearly a personal opinion and not a fact (or at least not one that has been verified thus far). What I meant earlier, was that it is not your place or mine to stipulate whether our comments and opnions are neutral, that is for others to decide. In this case, I felt that your comment was erroneous. It didn't offend me, I just wanted to make my own comment in reply.

As you said, I think we have taken this discussion about as far as is necessary, (probably even further); there are no hard feelings on my side either. Trade well.
Quoting ukmanthailan
{quote} I agree that everything you posted above is fact but {quote} is clearly a personal opinion and not a fact (or at least not one that has been verified thus far). What I meant earlier, was that it is not your place or mine to stipulate whether our comments and opnions are neutral, that is for others to decide. In this case, I felt that your comment was erroneous. It didn't offend me, I just wanted to make my own comment in reply. As you said, I think we have taken this discussion about as far as is necessary, (probably even further); there...
Aaah. I thought you were taking offence as to my views on the basis of current market high jinks (which as I said, tends to be the sum of my contribution). On that score you are correct. However, it is up to FTI to take issue with my opining (on his state of mind as regards his profession...which is a reasonable one...there is many a professional out there who mourns the loss of ethics in the new deregulated business model. But, that is all best glossed over as I gather there is a certain sense of loyalty to FTI, quite understandable as he has obviously been of help to many.
The road to pipland is arduous and fraught with challenge.
How sad....I am still at page 143 and see everything has changed in this thread in a second......Well, this is life. and uncertain (change) is certain.
Don't fret. By the time you have read the next 143 pages, things will most likely have changed again. You will come across quite a few incidents over the years.
Squared out my cable shorts. I'm done for the weekend. Have a good one everybody.
Hi fti and friends, not sure what happened to your trading yesterday as it is difficult to follow the activities based on the posts. But, I assume you had a broker problem, perhaps one that jumped actual PA to take your stop? Sorry to hear about that, and hope you are well today. I took yesterday off so I missed all the yen action yesterday, but got some pips on the $CHF today. Think I'll call it a week and start again Sunday!
Quoting jasonckb
How sad....I am still at page 143 and see everything has changed in this thread in a second......Well, this is life. and uncertain (change) is certain.
Ego and paranoia. The former has always driven the markets, the latter increasingly rears its head and with some basis it has to be said. If there is anything I take from my travels in these threads its to do my risk homework and tighten up my technical accuracy, all the while recognising that the new market will be increasingly unforgiving. Alternately we may want to consider FTI's sound advice (bearing in mind that he has been at the coalface of this profession) as a lot of the old methods clearly are not working anymore.
The road to pipland is arduous and fraught with challenge.
Quoting liqidone
{image}
One could be said to be understandably delusional in being unwilling to acknowledge that it is a degree of ego that brings all of of us, to the trading game, the human condition being what it is. Additionally, one can be forgiven for being naive in not recognising the risk that increasing deregulation of the financial services carries with it. Righteous indignation strikes all of us down from time to time. However it takes monumental stupidity to take offence at an agnostic, neutral statement of these facts. I simply cannot get over the reactions my rather bald statements elicit! Shocking!
The road to pipland is arduous and fraught with challenge.
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