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  • #541
  • Apr 9, 2018 2:30am Apr 9, 2018 2:30am
It was a pathetic effort all round, a complete fantasy, a tissue of lies; in three posts you went from sobbing in your beer that you couldn’t trade anymore, because leverage would be taken away, therefore you were going to put everything on black and spin the wheel, to suddenly making 1000% return a year by taking 6k to 60k. Then you’re making 400 quid on an Aussie pair as the markets opened. Wow, what a player. Hmm, now you’d think anyone who could make 1000% annually could easily cope with leverage at 1:50..but not you. Give it up, skulk off, you’re simply another embarrassing example of why ESMA needs to step in to protect know nothing fools and fantasists from self harm. You’re not simply hopeless, you’re displaying the classic examples of self denial, which accompanies all addictive behaviour.

Quoting Dunc
This is hilarious, I've been here 5 minutes, have easily identified you as a heavily losing retail trader desperately trying to get the upper hand in a inconsequential exchange. Forums are more fun than I thought if they are populated by your sort SB. Do you think anyone can't see you for what you are? I shouldn't bully but it feels right when dealing with an inadequate bully. You signed off with bless and x this time and dickhead last time, you are a mixed up little fellow. Don't worry I don't have time to mock you for long but you're good value...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #542
  • Apr 9, 2018 2:43am Apr 9, 2018 2:43am
Quoting Dunc
This is hilarious, I've been here 5 minutes, have easily identified you as a heavily losing retail trader desperately trying to get the upper hand in a inconsequential exchange. Forums are more fun than I thought if they are populated by your sort SB. Do you think anyone can't see you for what you are? I shouldn't bully but it feels right when dealing with an inadequate bully. You signed off with bless and x this time and dickhead last time, you are a mixed up little fellow. Don't worry I don't have time to mock you for long but you're good value...
Well, I think you got him wrong - he is not trading his own money, he doesn’t have any. He is probably warming the chair 9 to 5 on some insignificant institutional trading position at some insignificant London investment fund/bank with salary-to-passive income ration like 9:1.

So don’t be too hard on him - he have like 5 bosses on top of his head, endless meetings, late office work, ruined holiday plans...I guess he need to vent some...
  • #543
  • Apr 9, 2018 2:43am Apr 9, 2018 2:43am
Quoting Spreadbetter
The amount of clients, who had more than the protected balance with Alpari, was close to zero, actually the FSCS protection worked perfectly, it survived a test as it did with Worldspreads, without FSCS punters would have lost their money. The alternative is to trade with an offshore, completely unregulated broker, in such a decentralised market. As for FXCMs collapse it should have served as a death knell for them, given their supposed non dealing desk/STP/ECN credentials were exposed as a complete sham and scam. But still willing sheople continued...
Alpari - over-exposed, over-leveraged and trades like a fucking rookie, loses everyone's money right under the nose of the FCA.

Result - so-called professionals who aren't fit to manage a corner shop lead to the ESMA doubling down on their efforts to 'protect the clients'. Not sure its the clients that need protecting.
  • #544
  • Apr 9, 2018 2:48am Apr 9, 2018 2:48am
Sure, the FCA steps in to bailout failed firms, which is why ESMA and the FSA should begin a squeeze on all the poorly capitalised and bad practice brokers, directly or indirectly.

Quoting triphop
{quote} Alpari - over-exposed, over-leveraged and trades like a fucking rookie, loses everyone's money right under the nose of the FCA. Result - so-called professionals who aren't fit to manage a corner shop lead to the ESMA doubling down on their efforts to 'protect the clients'. Not sure its the clients that need protecting.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #545
  • Apr 9, 2018 3:36am Apr 9, 2018 3:36am
There was talk last year that EU would be looking to shut down binary options trading and i kinda figured that they would also revisit the leverage issue, so i did myself a favour and moved to an Aussie regulated broker. Since then I have noticed a big change in access to broker related information by the ASIC, it has become a little bit easier to access information about forex brokers in Australia kinda like what happened with the former FSA when traders started moving from US to UK regulated brokers in late 2009. So hopefully the ASIC will become more transparent and offer free and easy access to broker related information. I believe it is up to the trader to decide what kind of leverage they want to use be it low or high because at the end of the day the consequences of your choices are to be borne by you alone. What they should regulate however is the sales practice because i feel most newbie traders begin trading live accounts prematurely because of incitement by broker agents who call you on the phone and convince you to put money and start trading. I remember an agent from a broker based in South Africa calling me and telling me that i should not settle for the 10% p.a fixed deposit rate that i am getting from my bank and i should put that money in my account and trade it. I just laughed because the money in my FDR account was proceeds from trading and i was diversifying to spread my risks then this guy was telling me to put back my peas into the same basket, it was so silly i just laughed bcoz he didnt know that i have been trading for 10 years now come May this year and forex is the toughest racket out there in terms of investment. So i can see how aggressive sales practice and misinformation can lead people who are not ready to trade to begin trading and losing their money.

Anyway, the FCA will try and resist this because the City is likely to lose its IFC status due to the cloud hanging over Brexit, so losing more money for the financial industry is a likely no-no for them a this point. Until then, i'm staying put in the land of Koala bears
  • #546
  • Apr 9, 2018 3:55am Apr 9, 2018 3:55am
Quoting Spreadbetter
Sure, the FCA steps in to bailout failed firms, which is why ESMA and the FSA should begin a squeeze on all the poorly capitalised and bad practice brokers, directly or indirectly. {quote}
Starting with jail time for anyone who's supposed to segregate client accounts when they quite clearly didn't? No chance.

the idea of a benevolent ESMA looking after the interests of the poor retailers when you've got rampant fraud marauding through the brokerages rings completely hollow. Where's the outrage? The court cases? Nah, KPMG come in, charge £10m to divvy up a few accounts and everyone gets off scot free.

The end legislation we've got isn't onerous yet but it will be and it'll be driven be self-interest of the biggest pockets. Granted, that's the way a lot of these things work but there's precisely no reasons to cheer them on.
  • #547
  • Apr 9, 2018 4:10am Apr 9, 2018 4:10am
Don’t you feel sorry for Conor at Worldspreads? :/sarc

The FCA were lax, they’ve tightened up, similarly ESMA took several years to identify the key issue so many traders were failing, once the conclusions were reached (high leverage on small accounts) they began to clamp down, bureaucracy can take an eternity to move. But now we have leverage limits, binaries outlawed, negative balance protection, limits on marketing and advertising etc. It’s moving towards a far healthier landscape to protect the consumer.

You may cite that only the best capitalised and successful broker firms will survive (those with “the biggest pockets”), choice may become more limited, punters will need to find extra sources of funds to sit at the table, these are positive improvements (for the vast majority) over where we’re at right now.


http://conorfoley.com/conor-foley-of...edia-coverage/

Quoting triphop
{quote} Starting with jail time for anyone who's supposed to segregate client accounts when they quite clearly didn't? No chance. the idea of a benevolent ESMA looking after the interests of the poor retailers when you've got rampant fraud marauding through the brokerages rings completely hollow. Where's the outrage? The court cases? Nah, KPMG come in, charge £10m to divvy up a few accounts and everyone gets off scot free. The end legislation we've got isn't onerous yet but it will be and it'll be driven be self-interest of the biggest pockets....
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #548
  • Apr 9, 2018 4:22am Apr 9, 2018 4:22am
Quoting KimKim23
There was talk last year that EU would be looking to shut down binary options trading and i kinda figured that they would also revisit the leverage issue, so i did myself a favour and moved to an Aussie regulated broker. Since then I have noticed a big change in access to broker related information by the ASIC, it has become a little bit easier to access information about forex brokers in Australia kinda like what happened with the former FSA when traders started moving from US to UK regulated brokers in late 2009. So hopefully the ASIC will become...
Very interesting post thanks KimKim.
  • #549
  • Apr 9, 2018 4:37am Apr 9, 2018 4:37am
Quoting michaelpelly
{quote} Well, I think you got him wrong - he is not trading his own money, he doesn’t have any. He is probably warming the chair 9 to 5 on some insignificant institutional trading position at some insignificant London investment fund/bank with salary-to-passive income ration like 9:1. So don’t be too hard on him - he have like 5 bosses on top of his head, endless meetings, late office work, ruined holiday plans...I guess he need to vent some...
That makes sense. SB went from insulting me to trying to patronize me, selectively believing parts of my posts and raising a straw-man argument all within a few posts. His go to insult seems to be to call people drunks or alcoholics which I think is something of a tell. He seems like he can talk a good fight but you get the strong sense he's never won a good fight so I think you're correct Micheal and it would explain the resentment. I'm not being sarcastic when I say I hope he's ok, many worrying signals and I wish no one ill.

I'm afraid his concern for our accounts is disingenuous but his animosity towards the brokers is understandable in this context. I'll watch the thread for any useful posts there is wheat from the chaff!
  • #550
  • Apr 9, 2018 4:45am Apr 9, 2018 4:45am
You’re a mess, you can’t even recall what you posted a few hours earlier. You either made this post when drunk, or whilst experiencing psychosis. Like many of the pathological, addicted liars on this forum, you live in a fantasy land. ESMA is doing you a favour, now spin that wheel once more, put in on black, lose the small beer money you have and move on.

Quote
European Forex trading is about to end, dead, no more, it's over folks. I break lots of rules, I'll put my whole account on one trade because I have a monthly budget I can afford to lose and do several months of the year but guess what this monthly budget of £600 bought me a Jaguar XFR and holidays in 2016, lets not talk about 2017 between Trump and Brexit I it was messy.

This year I'm looking at my most profitable ever because I leverage the crap out of my trades with a guaranteed stoploss at my margin call. Compounding is the holy grail, in...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #551
  • Apr 9, 2018 4:56am Apr 9, 2018 4:56am
Quoting Spreadbetter
You’re a mess, you can’t even recall what you posted a few hours earlier. You either made this post when drunk, or whilst experiencing psychosis. Like many of the pathological, addicted liars on this forum, you live in a fantasy land. ESMA is doing you a favour, now spin that wheel once more, put in on black, lose the small beer money you have and move on. {quote}
Jeez I've got him all swivel eyed again. OK SB I'm a drunk with psychosis and a pathological liar if that makes you happy. Chilli out and be well.
  • #552
  • Apr 9, 2018 5:01am Apr 9, 2018 5:01am
You’re trolling and attention seeking, again. Just a reminder, this is you...

Quote
“As a little consolation to Mingary - I’ve lost $150,000 in 2.5 years investing in my own startup. It was nice, exciting and ultimately pretty much failed as business. The irony is at least 20000 USD of FX profit generated during this period were invested there and lost. So - I do know what is worse - loosing in “risky” Forex or loosing FX profit in new business (perceived as more “safe”)

The game is hard on any front - besides 200k is not something that one should relive so painfully - this is only money after all.”

Quoting michaelpelly
{quote} Well, I think you got him wrong - he is not trading his own money, he doesn’t have any. He is probably warming the chair 9 to 5 on some insignificant institutional trading position at some insignificant London investment fund/bank with salary-to-passive income ration like 9:1. So don’t be too hard on him - he have like 5 bosses on top of his head, endless meetings, late office work, ruined holiday plans...I guess he need to vent some...
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #553
  • Apr 9, 2018 5:13am Apr 9, 2018 5:13am
Quoting Spreadbetter
Quite a confession there, I just had you marked as a petty drunk, an attention seeking troll, who likes to vent off occasionally, in order to temporarily alleviate his deep seated insecurities, derived from a life of continuous failure. {quote}
SB It's really intriguing you accuse just about everyone of being a drunk, obviously you have some deep underlying personal issues.

Are these things that have plagued you your whole life? Aw, did Daddy get drunk and knock your Mummy about? Or perhaps Daddy was an alcoholic and was never around?

Dude, get some help.
  • #554
  • Apr 9, 2018 5:13am Apr 9, 2018 5:13am
Quoting Spreadbetter
You’re trolling and attention seeking, again. Just a reminder, this is you... {quote} {quote}
Dude, I invested those 150000$ (not yet lost btw, business is still salvageable) - but I made them for 6 months on top of my income from software project in Seattle. I’m doubtful you can even smell that kind of money in your bank account all piled up. And that was back in 2011-2012, I made couple times this amount last years - not complaining here at all.
  • #555
  • Apr 9, 2018 5:18am Apr 9, 2018 5:18am
Sad, truly sad.

Quoting michaelpelly
{quote} Dude, I invested those 150000$ (not yet lost btw, business is still salvageable) - but I made them for 6 months on top of my income from software project in Seattle. I’m doubtful you can even smell that kind of money in your bank account all piled up. And that was back in 2011-2012, I made couple times this amount last years - not complaining here at all.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #556
  • Apr 9, 2018 5:22am Apr 9, 2018 5:22am
Paranoid much? The only explanation I can offer for your bizarre behaviour is that over the weekend, or bank holiday you suddenly become enraged and decide to attention seek and troll. If that’s not linked to substance abuse I’d be surprised. You were triggered by my posts because you recognise yourself in the description I’ve laid down of insecure, reckless gamblers and dreamers, in relation to ESMA’s decision. You, Pelly, Dunc, all tarred with the same afflictions and experiences.

Quoting waxcrayon
{quote} SB It's really intriguing you accuse just about everyone of being a drunk, obviously you have some deep underlying personal issues. Are these things that have plagued you your whole life? Aw, did Daddy get drunk and knock your Mummy about? Or perhaps Daddy was an alcoholic and was never around? Dude, get some help.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #557
  • Edited 7:38am Apr 9, 2018 5:52am | Edited 7:38am
Quoting Spreadbetter
Paranoid much? The only explanation I can offer for your bizarre behaviour is that over the weekend, or bank holiday you suddenly become enraged and decide to attention seek and troll. If that’s not linked to substance abuse I’d be surprised. You were triggered by my posts because you recognise yourself in the description I’ve laid down of insecure, reckless gamblers and dreamers, in relation to ESMA’s decision. You, Pelly, Dunc, all tarred with the same afflictions and experiences. {quote}
Yes I am paranoid. when you have a real fucking edge you would be too!!

SB = Scatterbrain.

After all those years researching and testing every indicator combination And still you don't have a decent trading strategy?

That's the reason you are here, day in, day out. Desperately looking for clues, calling everyone a failure and just hoping, someone might be stupid enough to prove to you they are successful.
  • #558
  • Apr 9, 2018 6:37am Apr 9, 2018 6:37am
Jesus, chill out. I don't need to waste my time wading through rants from people pulling numbers out of their asses and throwing accusations around like any of it means something.

On topic:

I'm not sure that 5 leverage is really that bad tbh, I'd go with 10 but hey that's me. If you see the amount of broken accounts that I do on a daily basis, it's almost always due to over-leveraging.

There are always other brokers out there that are legit that will let you do more leverage anyway, so it's really a non-issue - just make sure that withdrawals are 100% a simple thing and not just a token withdrawal to make you feel safe (many brokers will give you back 500, in order to make you invest 10k+) or find one that has a decent regulation with leverage in another place.
  • #559
  • Apr 9, 2018 6:52am Apr 9, 2018 6:52am
Quoting Catch-22
Jesus, chill out. I don't need to waste my time wading through rants from people pulling numbers out of their asses and throwing accusations around like any of it means something. On topic: I'm not sure that 5 leverage is really that bad tbh, I'd go with 10 but hey that's me. If you see the amount of broken accounts that I do on a daily basis, it's almost always due to over-leveraging. There are always other brokers out there that are legit that will let you do more leverage anyway, so it's really a non-issue - just make sure that withdrawals are...
I hear you Carch-22 I've got some research to do. Obviously from a UK point of view and trading in form of a spreadbet (ahem), profits are tax free and withdrawals could not be easier. With IG Spreads a withdrawal request before mid-day is in my account before end of business same day and that's a good feeling.

Coolers heads than some may advice us on other countries regulations and reliability, tax implications etc. as per kimkims post earlier.
  • #560
  • Apr 9, 2018 7:30am Apr 9, 2018 7:30am
Quoting KimKim23
There was talk last year that EU would be looking to shut down binary options trading and i kinda figured that they would also revisit the leverage issue, so i did myself a favour and moved to an Aussie regulated broker. Since then I have noticed a big change in access to broker related information by the ASIC, it has become a little bit easier to access information about forex brokers in Australia kinda like what happened with the former FSA when traders started moving from US to UK regulated brokers in late 2009. So hopefully the ASIC will become...
Pretty sure Binary got chased out of Israel (to the dodgier areas of the world), and a lot of Forex brokers are worried now - particularly those based there - and are looking to move away.
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