does any one know broker with 1:400 + fixed spread + news trading ??
Fixed Lot Size vs Fixed Value 3 replies
DislikedWhy do you want 400:1? If you want to gamble, go to Las Vegas.Ignored
I'm not going to disagree that MOST of the time when someone asks for such high leverage, they WANT to gamble...but I must respectfully disagree with your assessment that leverage is somehow tied directly to risk. It isn't. I've made this point previously, but if I buy 1 standard lot of the Euro at 400:1 leverage, my loss per pip would be $10. If I were to lower my leverage to 50:1...do you think my loss per pip would be any different? No...If I buy 1 lot at 400:1 I will lose the same PER PIP as I would if I bought at 50:1.
Assuming someone who prefers 400:1 leverage is a gambler isn't exactly constructive.
On the flip side...you definitely have to take it with a grain of salt someone who wants hi leverage with a news trade component...but then again, let's look at the odds.
Why can't forex be used to gamble? (playing devil's advocate). Are you saying the odds of making a win are BETTER at a casino? Again...not agreeing with gambling in Forex...but it is for certain that people's risk tolerance varies from person to person...maybe this person doesn't mind blowing $1,000 for pretty decent odds.Ignored
DislikedWhy can't forex be used to gamble? (playing devil's advocate). Are you saying the odds of making a win are BETTER at a casino? Again...not agreeing with gambling in Forex...but it is for certain that people's risk tolerance varies from person to person...maybe this person doesn't mind blowing $1,000 for pretty decent odds.Ignored
DislikedImho in forex to a certain extent you can "beat the house" by increasing probablility of winning, in casino it's impossible. They have strict rules and policies to filter out professional gamblers.Ignored
Dislikeddoes anyone have a list of which brokers have these "rules and policies" also? once you are consistent at making money, they do everything to prevent you from making it?
and perhaps with descriptions of what they do also... e.g. false spikes, disconnections, manual execution, etc.
the most important point I fail to understand is whether these kinds of brokers will attempt to close down any profitable trader, or simply news traders?Ignored
DislikedYcomp, I think you misunderstood...the "rules and policies" he was referring to applied to the casinos. Casinos SEVERELY curtail professional gambling by doing things like offering low max bets (often times it's only 500x the minimum bet) which prevents people with larger bank-rolls from gaining an advantage through martingale, or card counting (if they can catch you), and they do a few other things...but the point is, everyone knows that gambling is always against the house and the house always wins in the long-run.Ignored
Dislikedbut I thought that certain brokers always try to shut you down if you make consistent profits (at least from news trading)?
I am especially confused about FXCM in particular, whether they try to shut down all profitable news traders or just those that exploit the time delay. If it is just those that exploit the time delay, then that is understandable of course.Ignored
DislikedHi Mr. M,
my questions are just to try and make sense of what I read in the forums. It seems like there are a number of brokers who will let you trade just fine for a few months and then after that they start monkeying with you (if you are doing well). This is the impression I get.
I am just trying to understand in what circumstances brokers will start doing these things and which brokers these are.Ignored
DislikedDid you even try to read my previous post? I can't speak for anyone else, but I've been profitable for quite some time now and never once have I justifiably felt monkey-ed with. With that said, there was a very horrible incident a while back, that my good friend stockwet was privvy to that WAS evidence of broker tampering. However, I ALWAYS keep 3 or 4 feeds around to ensure that I can validate a price if I ever feel that I somehow got screwed. There have been exactly 5 occasions out of the thousands of trades I've done over the past 3 years where I felt that I got shafted by the broker. 2 of thoose times resulted in an unsatisfactory response in which I left both brokers (thankfully one of them was refcoFX). 2 of the other times were immediately resolved by the broker where I was either entered in at the correct price (after getting taken out on a stop due to an abhorration) or refunded the proper trade amount (+ a few dollars for my trouble). The last time was me losing my mind and not doing my math properly.
I'm still in this business, Y and I can tell you, brokers aren't saints, but I try to ignore the little imps on my way to making a very healthy living. I'm not greedy, and perhaps that's why I haven't made my first $10 mil yet, but I am ALWAYS looking for the edge despite the lack of help from anyone.
When you focus on the things you can control with more accuracy, you'll start making money and stop asking questions.Ignored
DislikedI totally understand and agree with your point. My post was merely meant to get him to ask himself that question because the odds are that he's wanting to make money fast.
Matter of fact, I'd trade those odds... and probably win.
Regardless... just wanting folks who think they can make a quick buck news trading to think before they do it.
If that's not the case, then it's all good.Ignored