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Help!!! US Traders, We Must Stand Up and Fight

  • #101
  • Edited 7:46am Mar 16, 2021 7:32am | Edited 7:46am
Quoting PaulMF
{quote} No one prohibits to do that in Forex.
You apparently don't understand what FIFO is.
Learn from your mistakes and march on.
  • #102
  • Mar 16, 2021 7:51am Mar 16, 2021 7:51am
Of course, I do. So, you say that FIFO prohibits you to sell?
Always ready to help
  • #103
  • Mar 16, 2021 8:29am Mar 16, 2021 8:29am
Quoting PaulMF
Of course, I do. So, you say that FIFO prohibits you to sell?
You aren't listening. Go back and read what I said more carefully.
Learn from your mistakes and march on.
  • #104
  • Mar 16, 2021 9:04am Mar 16, 2021 9:04am
I know what you said:
Quoting here2there
..to sell what they want whenever they want.
And FIFO does not allow you to sell what you want whenever you want?
Always ready to help
  • #105
  • Mar 16, 2021 9:23am Mar 16, 2021 9:23am
Quoting PaulMF
Why don't you like FIFO?

Can you explain the advantages of FIFO rules, to the trader please?
  • #106
  • Mar 16, 2021 9:38am Mar 16, 2021 9:38am
Quoting Asw
{quote} Can you explain the advantages of FIFO rules, to the trader please?
I'm not still saying anything. Just trying to understand what some traders think FIFO is bad. Depending on what are the arguments, I will provide my opinion.
Always ready to help
  • #107
  • Mar 19, 2021 12:33pm Mar 19, 2021 12:33pm
Europe - or at least the EU part of it - is not exactly free to do as they please. ESMA capped our leverage to the ridiculous 1:30 which chased away most smallfry traders out there into the arms of offshore bucketshops. Things aren't sunshine and roses at all.
  • #108
  • Edited 7:05am Mar 20, 2021 4:25am | Edited 7:05am
Quoting james1254
Europe - or at least the EU part of it - is not exactly free to do as they please. ESMA capped our leverage to the ridiculous 1:30 which chased away most smallfry traders out there into the arms of offshore bucketshops. Things aren't sunshine and roses at all.
Same thing about to happen in Australia as well. All the Europe refugees now have to look eslewhere.
https://www.forexbrokerz.com/news/au...-new-cfd-rules

None of this is about "protecting" the retail investor IMHO. The excuse was volatility during COVID, but I made some massive profitable trades during that period thanks to volatility. That's what FX traders live for!
I'm also sure that a lot of people who lost their jobs decided to get into trading as well - without knowing what they were doing or what they were up against - and lost money. The huge leverage available is used to wipe these players out early, and that's how brokerages make their money typically.

In order to lift the leverage restrictions to something more normal, you have to be wealthy already to pass their requirements.... which defeats the purpose for many sole traders hoping to quickly escape their low paying day jobs once they become successful traders. Additionally you have to have some unspecified "accreditation" and rack up a large number of trades.

Honestly if you don't understand leverage and you're dumb enough to risk more than 3% of your account per trade - and then make bad trades - you deserve to be wiped out. I don't think the government deserves to protect you from stupidity. Australia is, however, a nanny-state and the government wraps everyone there in bubble-wrap to keep everyone "safe" by oppressing them.

If you're good at trading, being forced to stump up a huge pile of money and then only use 1% risk means that it will probably take a few years to make the sort of money required to get back to "normal" leverage, instead of the six months if would from a small monthly paycheque.
  • #109
  • Edited 2:05pm Mar 20, 2021 5:26am | Edited 2:05pm
Quoting EvilEye
{quote} ...dumb enough to risk more than 3% of your account per trade... from stupidity.

...[the government] bubble-wrap to keep everyone "safe" by oppressing us. ...means that it will probably take a few years to make the sort of money required to get back to "normal" leverage...

  1. Persistent risk management flaws stem from unsuitable personality traits, not stupidity.

  1. We, as aspiring traders, should be able to better discern the truth. Behind the governments' drive to stamp out leveraged CFD trading there is only the financial interest to prevent private wealth outflows. They like to keep the money within the rapacious grasp of the tax men. "Protecting the people" has nothing to do with it.

Practitioner of the cryptic trading arts
  • #110
  • Mar 20, 2021 7:09am Mar 20, 2021 7:09am
Quoting Endoephemera
{quote} Persistent risk management flaws stem from unsuitable personality traits, not stupidity.
A rose by any other name...

Either you know what you're doing, or you don't open live accounts.
  • #111
  • Mar 20, 2021 1:03pm Mar 20, 2021 1:03pm
Quoting EvilEye
{quote} Same thing about to happen in Australia as well. All the Europe refugees now have to look eslewhere. https://www.forexbrokerz.com/news/au...-new-cfd-rules None of this is about "protecting" the retail investor IMHO. The excuse was volatility during COVID, but I made some massive profitable trades during that period thanks to volatility. That's what FX traders live for! I'm also sure that a lot of people who lost their jobs decided to get into trading as well - without knowing what...
The ESMA decision happened long before COVID, but I do agree that it wasn't about "protecting" traders, it was about chasing off small retail traders off the markets.
  • #112
  • Mar 21, 2021 2:01am Mar 21, 2021 2:01am
Quoting james1254
{quote} The ESMA decision happened long before COVID, but I do agree that it wasn't about "protecting" traders, it was about chasing off small retail traders off the markets.
The way around this is, of course, to open multiple accounts at different brokers in your country and then have them take the same trades.
With 1:30 leverage trading on majors, three accounts at different brokers should afford you at least 1:90 leverage - which should make your journey up to professional account holder somewhat quicker.
  • #113
  • Mar 21, 2021 2:53am Mar 21, 2021 2:53am
You can trade stocks with leverage 1:1 and earn more than 100% yearly.

Ir you have no money and expect to live from trading your all capital (1000 USD maybe?) or you borrow capital and hope to earn for living with trading... Then stop dreaming. Find real job and learn how to accumulate starting capital. Learn saving. Learn not to spend all your salary. Only then when you learned that finance discipline only then you can start trading. You must have discipline first. No leverage will help you...
  • #114
  • Mar 21, 2021 4:18am Mar 21, 2021 4:18am
Quoting EvilEye
{quote} The way around this is, of course, to open multiple accounts at different brokers in your country and then have them take the same trades. With 1:30 leverage trading on majors, three accounts at different brokers should afford you at least 1:90 leverage - which should make your journey up to professional account holder somewhat quicker.
How 1:30 on each turns into 1:90 in total?
Always ready to help
  • #115
  • Mar 21, 2021 4:35am Mar 21, 2021 4:35am
Quoting srt
{quote} If you're trading full lots, switch to futures: 1-Can trade all major currencies (6A, 6B, 6C, 6E, 6J, 6M, 6N, 6S) 2-Can trade nearly any commodity. (metals, energy, grains, livestock, etc....) 3-Can trade bonds, equity futures (DAX, dow, ES, etc....) 4-No FIFO rules 5-Lower transaction costs 6-Segregated accounts 7-You're not trading against the broker 8-Low intraday margins (good for scalping) ***With all the crazy rules they have with forex in the US and very few restrictive rules for futures trading, it's pretty clear which lobbyists...
Yup, I left retail Forex late last year and headed for futures market at Interactive Brokers. Don't miss retail at all. Sure it is a bit different, but IMHO, it is better. Full disclosure, I only trade USD FX pairs so the fit is good for me. Full access to every market in the world is good. Gold, Crude, Corn, Nat Gas, S&P500 whatever. The only issue is you need some cash. 1K aint gonna cut it. However, if you can build urself up in retail, then move on, you will be doing urself a favor. You want to beat them? Succeed.

- Ric
Be humble or get humbled
  • #116
  • Mar 21, 2021 4:51am Mar 21, 2021 4:51am
Quoting srt
{quote} If you're trading full lots, switch to futures: 1-Can trade all major currencies (6A, 6B, 6C, 6E, 6J, 6M, 6N, 6S) 2-Can trade nearly any commodity. (metals, energy, grains, livestock, etc....) 3-Can trade bonds, equity futures (DAX, dow, ES, etc....) 4-No FIFO rules 5-Lower transaction costs 6-Segregated accounts 7-You're not trading against the broker 8-Low intraday margins (good for scalping) ***With all the crazy rules they have with forex in the US and very few restrictive rules for futures trading, it's pretty clear which lobbyists...
No FIFO rules because it is the default mechanism in Futures. They don't have put this rule to protect traders.
Always ready to help
  • #117
  • Mar 21, 2021 7:55am Mar 21, 2021 7:55am
Quoting PaulMF
{quote} How 1:30 on each turns into 1:90 in total?
Yeah you're right! Didn't really think that one through!
  • #118
  • Mar 21, 2021 4:33pm Mar 21, 2021 4:33pm
Quoting sknight1
{quote} You can get suggestions in a forum like this. My suggestion was to expatriate. But for answers to your other questions... foreign entity, how, where, cost, etc... you're going to want to talk about that with an attorney, not with people on the internet.
I found this post: ( offshore ibc own by offshore trust, offshore broker account in ibc name control by trust). An IBC costs about $500 to set up, but the offshore bank account to do business in the name of the IBC can run another $1000. An offshore trust can cost $20,000 so that's a little rich for me. Of course, expert legal and tax advice would also be required. Perhaps someone has a better idea? - G
  • #119
  • Mar 22, 2021 6:44am Mar 22, 2021 6:44am
Quoting EvilEye
{quote} The way around this is, of course, to open multiple accounts at different brokers in your country and then have them take the same trades. With 1:30 leverage trading on majors, three accounts at different brokers should afford you at least 1:90 leverage - which should make your journey up to professional account holder somewhat quicker.
All ESMA-controlled brokers have leverage capped at 1:30 though?
  • #120
  • May 8, 2024 9:12pm May 8, 2024 9:12pm
Guys I do have Solution for your problem.

Let the thread owner speak to me.

all the us traders can trade without any Issue and earn money as well.

Let me know when you guys are ready.
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