Fair Play...? Never. SEC investigates investment banks | Forex Factory

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Fair Play...? Never. SEC investigates investment banks

  • #1
  • First Post: Feb 20, 2007 2:40pm Feb 20, 2007 2:40pm
Guys

Read this

For us trading is HARD, REALLY HARD for then is 100% an easy game.

Bye
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Johann Channels and cycles are everything
  • #2
  • Feb 20, 2007 5:36pm Feb 20, 2007 5:36pm
Quoting Tragapips
Guys

Read this

For us trading is HARD, REALLY HARD for then is 100% an easy game.
It is important to point out that there are no rules against "insider trading" on currencies. In the US, the SEC does not regulate Forex trading at all, so in a large sense banks can do whatever they want.
  • #3
  • Feb 20, 2007 5:39pm Feb 20, 2007 5:39pm
Is this besides the whole NSS game, and the study that pointed out that almost all buy-outs and big events had a spike in volume the days preceding the PR for the event?
  • #4
  • Feb 20, 2007 7:51pm Feb 20, 2007 7:51pm
Lol .... don't you guys think this makes private traders a bunch of interesting people? Private traders trade without any edge in terms of information and yet still capable of profiting.
  • #5
  • Feb 20, 2007 9:19pm Feb 20, 2007 9:19pm
Thanks for posting this article, Tragapips!
  • #6
  • Feb 20, 2007 9:27pm Feb 20, 2007 9:27pm
Here's something to consider: in New Market Wizards, Bill Lipschutz ("the sultan of currencies") said, "Foreign exchange is all about relationships, your ability to find good liquidity, your ability to be plugged into the information flow- it all depends on relationships" He goes on to say "Those of us who did well were generally the ones who were accepted by the interbank circle. The traders that stay aloof tended to be the ones who couldn't make any money trading forex".

Looks like we might be at a bigger disadvantage than it appears..
  • #7
  • Feb 20, 2007 10:28pm Feb 20, 2007 10:28pm
Quote
(Fortune Magazine) -- "In early February, the SEC confirmed that it was investigating whether the major brokerage houses were tipping off hedge funds to the trades the brokers handle for big clients like mutual funds. If that's happening, it would be a scandal.
The SEC is also likely to scour trading records to see if the brokers are using info about clients' moves to invest their own capital. If the SEC finds evidence that they are, the scandal would be enormous - and go to the heart of Wall Street's profit machine."


Duh ! ....OF COURSE IT HAPPENS !

And the head of the Fed used to be a top honcho in Wall St. Duh! Lets hold off on interest rate increases to give Wall St a big bull run.
  • #8
  • Feb 20, 2007 11:50pm Feb 20, 2007 11:50pm
Quoting newbietrader101

Duh ! ....OF COURSE IT HAPPENS !

And the head of the Fed used to be a top honcho in Wall St. Duh! Lets hold off on interest rate increases to give Wall St a big bull run.

Or maybe keep real estate from crashing.
How you act is more important than how you feel.
  • #9
  • Feb 21, 2007 12:31am Feb 21, 2007 12:31am
Quote
Here's something to consider: in New Market Wizards, Bill Lipschutz ("the sultan of currencies") said, "Foreign exchange is all about relationships, your ability to find good liquidity, your ability to be plugged into the information flow- it all depends on relationships" He goes on to say "Those of us who did well were generally the ones who were accepted by the interbank circle. The traders that stay aloof tended to be the ones who couldn't make any money trading forex".

Looks like we might be at a bigger disadvantage than it appears..
I'm sure he was referring to traders with huge capital when he said "us".
Small fishes like us are not included. We can jump in and out of the market much easier than those with huge capital.
  • #10
  • Feb 21, 2007 2:22am Feb 21, 2007 2:22am
Quoting luqmanz
Lol .... don't you guys think this makes private traders a bunch of interesting people? Private traders trade without any edge in terms of information and yet still capable of profiting.
Lugmanz

Thatīs my feeling too. They call each other and say: "Tomorrow this ... and this.. will happen bur or sell at this level". I only have my charts and see pips going to my bank (not a lot..)
Johann Channels and cycles are everything
  • #11
  • Feb 21, 2007 9:00am Feb 21, 2007 9:00am
doesnt matter what investment bank do, somebody needs to have superpower first, because they will open up business, factory, bank, and stuff for other majority people (provide jobs). only then a country's economy will run..

do you still remember when most of the corporation is owned by government?
  • #12
  • Last Post: Feb 21, 2007 9:28am Feb 21, 2007 9:28am
Quoting zawodowiec
Here's something to consider: in New Market Wizards, Bill Lipschutz ("the sultan of currencies") said, "Foreign exchange is all about relationships, your ability to find good liquidity, your ability to be plugged into the information flow- it all depends on relationships" He goes on to say "Those of us who did well were generally the ones who were accepted by the interbank circle. The traders that stay aloof tended to be the ones who couldn't make any money trading forex".

Looks like we might be at a bigger disadvantage than it appears..
If you trade $20k/pip yeah... you need those hookups. People that don't have them may be hung out to dry a bit. Little toys like us dont need to know the innercircle. All you really need is a broker and some charts to make a decent day job out of forex trading.
The market is my nation. Traders, my family. Hello, brothers and sisters!
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