Haha lol
You guys kills his dreams goals
You guys kills his dreams goals
i want 400:1 or 500:1 leverage with metatrader platform
jlpi - So you think that athletes choose their own equipments? Racers choose their own cars, motorcycles, etc? So, if someone is good in something, he/she already knows EVERYTHING about all that is available in the market? Haven't you heard of sponsors?
cecmc - So you think if someone ask about 400:1 or 500:1 leverage, he/she is already a loser in forex? Why? Did it happen to you?
zek132 - You state that for very high leverage, a person's account will easily be wiped out yet you also said that brokers don't want to go bust bec of it. Broker and their clients going bust? That's contradictory!
Just because a person ask about something they might not fully understand or experience doesn't mean it's wrong or they are a fool. Can't people just explain why it's not good to use high leverage instead of using sarcasm?
PipBoy may want to use high leverage bec he likes to experiment with it. That doesn't mean he won't succeed.
The Wright bothers were laughed at bec of their dream of making a flying machine. Other dreamers tried but they all failed so they say it's impossible for man to fly. The rest is history.
Thanks Micro-MiniMe. Hope people here emulate you. Just explaining without sarcasm.
cecmc - So you think if someone ask about 400:1 or 500:1 leverage, he/she is already a loser in forex? Why? Did it happen to you?
zek132 - You state that for very high leverage, a person's account will easily be wiped out yet you also said that brokers don't want to go bust bec of it. Broker and their clients going bust? That's contradictory!
Just because a person ask about something they might not fully understand or experience doesn't mean it's wrong or they are a fool. Can't people just explain why it's not good to use high leverage instead of using sarcasm?
PipBoy may want to use high leverage bec he likes to experiment with it. That doesn't mean he won't succeed.
The Wright bothers were laughed at bec of their dream of making a flying machine. Other dreamers tried but they all failed so they say it's impossible for man to fly. The rest is history.
Thanks Micro-MiniMe. Hope people here emulate you. Just explaining without sarcasm.
- #67
- Oct 12, 2007 10:08pm Oct 12, 2007 10:08pm
Hi all.
I didn't really want to get into this one..., but...
I just have one burning question:
Why are so many very successful traders/investors not as highly leveraged?
I've personally never wanted to go that high, hell, 100:1 scares me
:
Even though my account comes with that leverage by default [as many do], I still trade "old-school" and treat my positions as if I only had 50:1 at the most...
Just an observation, and pondering the question after reading this thread.
Many stupidly rich traders/investors have managed with much less, and seem to be doing just fine.
Show me one, that is that highly leveraged, and still around after 4/5 years [even 3], and I will gladly eat my words [and hat, or whatever]
I didn't really want to get into this one...
, but...I just have one burning question:
Why are so many very successful traders/investors not as highly leveraged?
I've personally never wanted to go that high, hell, 100:1 scares me
:Even though my account comes with that leverage by default [as many do], I still trade "old-school" and treat my positions as if I only had 50:1 at the most...
Just an observation, and pondering the question after reading this thread.
Many stupidly rich traders/investors have managed with much less, and seem to be doing just fine.
Show me one, that is that highly leveraged, and still around after 4/5 years [even 3], and I will gladly eat my words [and hat, or whatever]
Carpe Divitiae
- #68
- Oct 12, 2007 11:35pm Oct 12, 2007 11:35pm
- Joined Sep 2004 | Status: Trader | 1,464 Posts
sxaxlxvxaxtxixoxnxbxyxgxrxaxcxexdxoxtxoxrxgx
PipBoy, where did you read that NorthFinance is good? I've been considering them but some are against it.
I think that BurgerKing is honest in his comments about NorthFinance, even though he doesn't trade with them anymore. But if you go to their website, it's true that they don't have an address. Just P.O. Box. But that is not really a problem since there are still brokers registered with NFA and CFTC but are scammers too or don't know how to run the business so they fold up.
think about this NF start the business in 2001 , untill now everything is good (i heard many ppl said if u made real big profits they will withdrawal ur money without any problem , this is the most important thing for me,
but their only problem is in news times (i don't trade the news) , but i get benefit from the retracement (not an easy strategy).
i don't care if the broker is in Belize or Cyprus , as long he gives me my profit
u can some reviews here about NF
http://www.forexbastards.com/public/...rthfinance.com
it's strange to see reviews from 4stars to scam rating!
and by the way , when the swiss regulated broker westcapfx changed it's spread , NF do the same ! they got the same spread!
after all i think NF is just a (white label) for westcapfx
for those who don't know what (white label) means , plz read this
http://en.wikipedia.org/wiki/White_label_product
yesterday i open an account with NF , i'll see how good and bad they r
only time will clarified this
i hate to become the broker defender , but this is what i know about them so far.
when my account is going to be big i'll open another account with another broker , trust me on this
i still remeber the Refco thing...
thank u Qwert
PipBoy, don't be an id*ot. No decent brokers offer anything above 100:1. As a matter of fact, check out currenex providers. Most of them have 50:1. Because forex is damn unpredictable only a fool would use 1:500, a 25 pip spike would wipe out your account. And those can happen for no apparent reason from time to time. Good brokers don't want to go bust, hence they don't allow extreme leverage.
Best regards,
Vlad
can u say , well they r scam?
remeber this they r registered in NFA and CFTC
the sad thing here their platform are not MT4
i know a guy trading in forex said the real banks don't give more than 10:1 leverage!
i don't know if this is true or false
only a fool would use 1:500, a 25 pip spike would wipe out your account. And those can happen for no apparent reason from time to time. Good brokers don't want to go bust, hence they don't allow extreme leverage.
Best regards,
Vlad
i don't use more than 15% of the margin (100:1 leverage)
no matter how good my prosition and the conditions of the market
when u use 500:1 leverage this means u have to lower the risk
so 3% of the margin is good in this case , this is good for my hedge techniques , but 500:1 still dangerous especially when u have greed!
u see the diffrence between high leverage and lower leverage
some might consider 100:1 a high leverage , others 50:1
it depends on the trader
i also have good technique about high leverage , i like to go with the trend when the price breaks a support or resistance ,for example : i go long (buy) when the resistance is broken , after that the price moves to another resistance and break it , so i go long (buy) again
when this happend
i lock the 1st position on profits ( use stop loss)
so whenever the price went back , it will hit the SL with some profits
for the 2nd position , i go hedge to prevent the loss
it's like i open 1 position , the 1st one got (+) profits , i just don't care about it
the 2nd position is my concern, cuz i have (-)profits , i use hedge and try to get rid of it in the right time
thank u zek132 (vlad)
bravester,
20k from ForexGen hit my bank account today.
I had to wait about 10 days for it, and I was in constant communication
with their support staff who were polite and helpful.
They certainly did not scam me.
Coder
after u try them enough , plz tell me about ur exp with them
thank u Coder
Well said bro.
I like your trading style. Very good indeed. In my opinium 1:400 or 1:10 or 1:1000 is the same. If you have a STRONG Risk Management you can use that leverage easily. I dont understand why wannabe pro traders laughing at you when you asked them for an advise. Especially Mr. Trend, that guy is a joke.
I have also tried to look for a broker with 1:400 1,5 years ago.
Well, Pipboy i must dissapoint you, there are NO brokers that offer you 1:400. Why? Because brokers that offers 1:200 or higher are bucket shop! Or they are a big fraud like Northern Finance. They will stop Hunt You. Trust me. Metatraders brokers are a big joke too.
You should look for an ECN broker that offer high leverage. If you dont know what an ECN is do a Google search. ECN model are the best way to trade in FOREX.
I am with MBT/EFX Group at this moment. They are a great broker and offer 1:100 to you. That is the highest leverage soo far for an ECN Broker.
Interactieve Brokers are much BIGGER but they offer 1:50 which are too low for me so that is why I choose MBT/EFX group.
plz read my reply to zek132
i know good brokers like fxsol and gft , they provide 400:1 leverage
can u say , well they r scam?
remeber this they r registered in NFA and CFTC
the sad thing here their platform are not MT4
i know a guy trading in forex said the real banks don't give more than 10:1 leverage!
i don't know if this is true or false
i know man financial in canada gives 200:1 leverage , u know the reputation of man financial.
even if the broker was a bucket shop i must get the maximum benefit from it
500:1 is very good weapon , it might kill u , but if u know how to use it right , u'll be Great!
thank u vinnie99
yea, Nf is great broker, but they exteremly terrible in news time, and all almost all orders is manuall, but if you trade normall market i think nf will be best for you as 1.500 leverage .
but i get benefit from the tracement ( not every time)
trading in the normal conditions is the best for me
thank u mohsen57
Coder,
Great !!! Congratulations!!! But Just be aware, they have scammed and robbed several people. If it hasn't happened to you today does not mean it can never happen to you. Moreover, they have no physical address, no support phone number , no regulation , in short if they were to fold up and run away with your money, you'd be screwed big time. I am telling you, things used to be much better about 6 months ago. Withdrawals used to be processed same day, customer service used to call back if you had a problem. None of that happens now. If you knew what i know now, you would pull out your money. Entirely upto you, take care , good luck and stay alert.
this broker looks scary
be careful Coder
thank u bravester
I like this one
It is like if Roger Federer will ask advice for choosing a racket to play tennis because he is a pro in playing tennis not in choosing a racket !
I saw that you want to open an account with NF.
So I believe you, you are not a pro in chosing a broker
but think about this, a tennis player can see the field for the game , he also can choose the racket to use , ( he sees everything in his eyes )
but in my case i don't know and i can't see whats going on in the brokers vault
i heard some brokers r good , but ,do i guarntee that 100%?
u remind me about Refco
thank u jlpi
Alpari UK offer leverage up to 1:500 for accounts below 5,000.
I'm impressed with their email support (sent 3 emails to them today and got replies within about 3 minutes) They are also regulated by the FSA.
I can't comment on execution or anything else though as I only had my live account approved with them this last week and not sending funds till monday.
i'll e-mail them and see what they said
thank u cryten
this broker have 1.400 and 1.500 leverage with metatrader4
http://fxclearing.ca/eng/
i know nothing about them, no idea , just wanted to share with you if you're looking for broker like this
the scary thing here , is that FXCH and other scam brokers
do the same thing!
becareful
thank u mohsen57
http://www.cmsfx.com/ offers pretty high leverage.
Now, I want to say something for those who are bashing Pipboy for this question. 400:1 leverage is only bad if you use it incorrectly. I could see someone wanting to take some high risks at the chance of a huge return. There is nothing wrong with that. I spend 100's of dollars at the casino each month with less of a chance of winning than you have betting a few hundred at forex. In fact, I should probably stop playing at the casino and just bet it on a 400:1 forex account. Despite whatever the leverage is, you can still use money management, and the odds sure beat the casino.
maybe it's the same in some ways
but in forex we have TA . in casino we don't have MA , fibo , pivot , trend lines ...etc
so ur chances is forex more than any casino
even if u mastered the TA , u'll fail in forex if u forgot the right money management
thanks u Ranghar
Show us your statements and I STOP RIGHT NOW!
Take Care
whats ur connection with this guy
show us ur statements and we'll stop.
http://www.forexfactory.com/showthread.php?t=10780
Posted Nov 30, 2006
by aparsai
I try to wrap up what everyone else said with a few examples:
In these examples suppose your base currency is USD and and your current balance is $10,000. Also you get a margin call if your free margin drops below $500.
Higher Leverage and Money Mangement
Higer leverage without money management is a real killer. If you decide to trade GBPUSD long and the current price is 1.9000:
(A) With 100:1 you may purchase 4 standard lots and consume $7600 of your margin (4*100000*1.9/100=7600).
(B) With 400:1 you can purchase 16 lots and consume the same amount of your margin (16*100000*1.9/400=7600).
In case (A) every pip costs you $40 (i.e. 1pip*$10) while in case (B) every pip costs you $160. Now if the price drops to 1.8983 in case (A) your free margin drops to $1720 (i.e. you've lost $680). You've lost a substantial amount of money but you are still in the game. In case (B) you lose $2720 (17pips*$160) and your free margin drops below zero ($7600+$2720>$10000). Your broker stops you out and you are out of the game losing over 27% of your account in a single trade and just by a 17 pip movement.
With Money Manegment You Usually Don't Care about Leverage
If you have MM rules in place you usually use position sizing and risk a specific amount of your money. For example you decide to set VAR (Value At Risk) to be 5% of your account size (i.e. you risk $500 of your account balance per trade).
With this system in place if your stop loss is set to be 50 pips from your open price you won't trade more than 1 lot. Because with 1 standard lot each pip will cost you $10 and 50 pips is $500 or 5% of your account.
Now whether you have a leverage of 400:1 or 100:1 you only buy 1 lot. However, with higher leverage you consume less margin (i.e. $425.00 vs $1900.00 if the price of GBPUSD is 1.9000). But as far as you are far away from margin call it doesn't really matter, does it?
Higher Leverage Helps You Trade More Currency Pairs (or have more Open Trades)
One of the approaches that you can reduce your chances of loss is to trade several pairs at the same time. In this case a higher leverage is really helpful. For example if you trade 1 standard lot for each pair with 100:1 and $10000 account balance you might not be able to trade more than 3 or 4 trades but with 400:1 trading 4 or even more pairs at the same time is not an issue.
The same situation is true if you decide to have several trades open at the same time.
Conclusion
The bottom line is that higher leverage can be used as a winning tool in the hand of a professional trader but be a killer if used by a novice trader.
Good Luck,
Al
Hi all.
I didn't really want to get into this one...
I just have one burning question:
Why are so many very successful traders/investors not as highly leveraged?
I've personally never wanted to go that high, hell, 100:1 scares me
Even though my account comes with that leverage by default [as many do], I still trade "old-school" and treat my positions as if I only had 50:1 at the most...
Just an observation, and pondering the question after reading this thread.
Many stupidly rich traders/investors have managed with much less, and seem to be doing just fine.
Show me one, that is that highly leveraged, and still around after 4/5 years [even 3], and I will gladly eat my words [and hat, or whatever]
i know 2 ppl trading almost 3 years with fxsol
they used 400:1 leverage
but there risk no more than 5% of the margin
thank u fsiltd
Whew! Sure are a lot of you good folks that are lacking proper knowledge of the relationships between margin, risk, broker leverage and true leverage.
True leverage? I skimmed all the posts in this thread and did not see a single mention of it (though it could be inferred from a few posts I saw). If you don't know, and want to learn, take a look at the money management posts in the thread called "Information for Beginners". It is a sticky thread in the Beginners forum. The MM starts at post 13. Forgive the mess in there, but a lot of stuff from different threads got jammed together into one thread. I haven't had a chance to clean it up yet.
Happy hunting!
Dial
thank u diallist
PiPBoY Approved!
- #70
- Oct 13, 2007 4:19am Oct 13, 2007 4:19am
Hello Bravester & PiPBoY,
The 20k was my total account there. I'm moving the funds over to HotspotFX this week.
HotspotFX are a large ECN broker. They have great reviews.
I'm currently converting all my MT4 EAs over to use their Java API.
Their leverage is only 50:1. I guess that's the price you pay for
security.
I wish you all well with your trading.
Coder
The 20k was my total account there. I'm moving the funds over to HotspotFX this week.
HotspotFX are a large ECN broker. They have great reviews.
I'm currently converting all my MT4 EAs over to use their Java API.
Their leverage is only 50:1. I guess that's the price you pay for
security.
I wish you all well with your trading.
Coder
jlpi - So you think that athletes choose their own equipments? Racers choose their own cars, motorcycles, etc? So, if someone is good in something, he/she already knows EVERYTHING about all that is available in the market? Haven't you heard of sponsors?
cecmc - So you think if someone ask about 400:1 or 500:1 leverage, he/she is already a loser in forex? Why? Did it happen to you?
zek132 - You state that for very high leverage, a person's account will easily be wiped out yet you also said that brokers don't want to go bust bec of it. Broker and their clients going bust? That's contradictory!
Just because a person ask about something they might not fully understand or experience doesn't mean it's wrong or they are a fool. Can't people just explain why it's not good to use high leverage instead of using sarcasm?
PipBoy may want to use high leverage bec he likes to experiment with it. That doesn't mean he won't succeed.
The Wright bothers were laughed at bec of their dream of making a flying machine. Other dreamers tried but they all failed so they say it's impossible for man to fly. The rest is history.
Thanks Micro-MiniMe. Hope people here emulate you. Just explaining without sarcasm.
But you have to know that 90% here thinks the same way. I dont know they are succesfull in this business or not.
Hello Bravester & PiPBoY,
The 20k was my total account there. I'm moving the funds over to HotspotFX this week.
HotspotFX are a large ECN broker. They have great reviews.
I'm currently converting all my MT4 EAs over to use their Java API.
Their leverage is only 50:1. I guess that's the price you pay for
security.
I wish you all well with your trading.
Coder
i wish all the best
What i ment here, with most ECN brokers it is possible to have a negative balance, unlike bucketshops, which usually state that your account is protected. Hence if somebody with a ECN broker gets 500:1 leverage, and uses it to the fullest(trading GBP/JPY for bigger impact), and then say... GBP/JPY whips around by 200 pips withing a few minutes ( as has happened not so long ago) his/her account would be majorly -ve. If this is a big account there is a chance he/she/it(corporation) would not be able to pay, this would either
a) give a bad reputation to the broker
b) cause the broker to pay as a legal counterparty
I'm not too sure what would happen in this situation, but i'm pretty sure most brokers would like to avoid it. At least that's what my impression from various brokers that i've worked with is.
I did assume though, that when someone is looking for a high leverage, they are looking to actually use it, otherwise why have it if you don't use it?
In either case, PipBoy, you will only get such leverage on only small account. So if you are looking to make some decent money in forex, long term, forget about this idea, as you won't get high leverage for large capital. 1:100 is more then enough anyway, or so it seems to me...
Best regareds,
Vlad
PiPBoY Approved!
- #76
- Oct 15, 2007 2:36pm Oct 15, 2007 2:36pm
Leverage means nothing really. It's what you do with it that really matters.
If you are trading according to your MM, a max of 0.5 lots (in say 5x0.1 lots trades), and you stick to that scheme, having more or less leverage doesn't make a shred of difference, unless of course you trade without a stop loss and get into drawdowns. In that case, the extra leverage gives you the margin to keep trading while you cover the losing position. Not that I advocate stop lossless trading at all, but as an example I think you get my meaning
If you are trading according to your MM, a max of 0.5 lots (in say 5x0.1 lots trades), and you stick to that scheme, having more or less leverage doesn't make a shred of difference, unless of course you trade without a stop loss and get into drawdowns. In that case, the extra leverage gives you the margin to keep trading while you cover the losing position. Not that I advocate stop lossless trading at all, but as an example I think you get my meaning
- #77
- Edited 5:04am Oct 16, 2007 4:52am | Edited 5:04am
- Joined Nov 2006 | Status: Trader | 1,758 Posts
- #79
- Oct 16, 2007 5:03am Oct 16, 2007 5:03am
- Joined Nov 2006 | Status: Trader | 1,758 Posts
Well said bro.
I like your trading style. Very good indeed. In my opinium 1:400 or 1:10 or 1:1000 is the same. If you have a STRONG Risk Management you can use that leverage easily. I dont understand why wannabe pro traders laughing at you when you asked them for an advise. Especially Mr. Trend, that guy is a joke.
I have also tried to look for a broker with 1:400 1,5 years ago.
Well, Pipboy i must dissapoint you, there are NO brokers that offer you 1:400. Why? Because brokers that offers 1:200 or higher are bucket shop! Or they are a big fraud like Northern Finance. They will stop Hunt You. Trust me. Metatraders brokers are a big joke too.
You should look for an ECN broker that offer high leverage. If you dont know what an ECN is do a Google search. ECN model are the best way to trade in FOREX.
I am with MBT/EFX Group at this moment. They are a great broker and offer 1:100 to you. That is the highest leverage soo far for an ECN Broker.
Interactieve Brokers are much BIGGER but they offer 1:50 which are too low for me so that is why I choose MBT/EFX group.
I know of 4 brokers that do offer 1:400 leverage, CMS, GFT, FXCM and FXSOL just off the top of my head.