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  • #90,081
  • Apr 28, 2009 11:53am Apr 28, 2009 11:53am
Quoting knuckledrag
Ok your right about a lot in my opinion. Now if you would be so kind as to put a chart up with your posts and explain what your thinking.

Winning and being sexy
Crap, that's a lot better than what I had.

A trade plan is the most important part of starting your day, I'll be interested to see how you plan your day.
Will do knuckle when i get my power back on. If you trade winning is sexy so winning and being sexy go hand and hand
Boycott GFT for NFA hedge rule
  • #90,082
  • Apr 28, 2009 11:54am Apr 28, 2009 11:54am
Quoting emda
there has to be one reason for 400x leverage... I'm still studying how one could benefit from that.... what kind of system would get benefit from using 400 leverage. crazy..
The broker.

If you allow 400 leverage it gives a person with little money the opportunity to lose more of it faster. And...since it was little money they will reinvest many times, losing their capital until they either smarten up or quit.
  • #90,083
  • Apr 28, 2009 11:57am Apr 28, 2009 11:57am
any thoughts on the Fed announcement tomorrow?
  • #90,084
  • Apr 28, 2009 11:57am Apr 28, 2009 11:57am
Quoting trader69
where did you get info that gft is reason for no hedging? if you show me, i will join your cause. seriously.
Inside information but ill get some published documentation the real push from gft was the fact they have limitations in there software that prohibited hedging so instead of paying some Indian day laborers to write more code they petitioned the NFA to ban hedging.

This is a big deal for me but do we really want big brother NFA telling us how to trade?
Boycott GFT for NFA hedge rule
  • #90,085
  • Apr 28, 2009 11:59am Apr 28, 2009 11:59am
Quoting Bigfx
Dude they got rid of hedging obviously they have enough pull to get things done in the USA. Are you aware NFA right now is thinking of changing margin to 2 to 1 meaning you would need 50k of your own money to trade 1 std on the EU
NFA can go scr+w themselves! They REPRESENT the interests of hedge funds! And the Fx market is the only trading market where the retail guy, armed with good leverage, can make money riding the coattails of the market movers (i.e., hedge funds). And the hedge funds would rather retailers be as disadvantaged in the Fx market as they are in the stock market! And that is why they'd like others to listen to all their crap about how margin is "bad" for the retailers and should be reduced!
  • #90,086
  • Apr 28, 2009 12:00pm Apr 28, 2009 12:00pm
Quoting traderathome
NFA can go scr+w themselves! They REPRESENT the interests of hedge funds! And the Fx market is the only trading market where the retail guy, armed with good leverage, can make money riding the coattails of the market movers (i.e., hedge funds). And the hedge funds would rather retailers be as disadvantaged in the Fx market as they are in the stock market! And that is why they'd like others to listen to all their crap about how margin is "bad" for the retailers and should be reduced!
AMEN brother!
Boycott GFT for NFA hedge rule
  • #90,087
  • Apr 28, 2009 12:02pm Apr 28, 2009 12:02pm
nearly closing the gap....
  • #90,088
  • Apr 28, 2009 12:07pm Apr 28, 2009 12:07pm
Quoting Fly2
Heres the NFA link--http://www.nfa.futures.org/member/newsLetter2.asp
Can find it in there
thanks for the link. it appears that because the nfa is requiring the fdm's to have so much reserve capital, they want them to get it from their customers instead of setting it aside out of their own money. also, it refers to the money as a security deposit, as opposed to outright saying they are raising margin requirements. it further goes on to say it is done to protect fdm's from defaulting clients. when's the last time you heard of a client beating a delaer out of money? with instant margin calls, this appears near impossible. more like the other way around. makes me wish we could bypass brokers all together.
"i wake up in the morning, and i piss excellence"
  • #90,089
  • Apr 28, 2009 12:07pm Apr 28, 2009 12:07pm
Quoting Bigfx
AMEN brother!
PREACH ON!!
"i wake up in the morning, and i piss excellence"
  • #90,090
  • Apr 28, 2009 12:08pm Apr 28, 2009 12:08pm
Quoting Bigfx
Whoa MM I lost power to my house just got on via my aircard. Big brother is trying to shut me down! HAHAH
Sorry, but no mention of 2:1 here:

These statistics indicate that FDMs can compete while offering leverage of
100:1 or less and that higher amounts can lead to abuses. The amendments leave the
minimum security deposit amount at 1% and 4% and eliminate the exemption. Under
the amendments, no FDM would be allowed to offer more than 100:1 leverage on the
major currencies or more than 25:1 leverage on other currencies. This would bring the
operation of the forex requirement more in line with on-exchange margins, which are not
affected by the firm’s capitalization, while the required amounts would still allow FDMs
to offer significantly higher leverage than is currently available for IMM contracts.

anyway the NFA changed my account to show only the first three numbers of any currency pair I trade....they said it would protect me from such abuses mentioned earlier....

EUR/USD 1.31 / 1.31 probably should go short!?!

mm

p.s. no long..............oh crap!!!!!!!!! I forgot they took my hedging abilities away too.....will try turning the monitor downsideup or is it the other way????
He who hesitates is hesitant....which always leads to bad entries.
  • #90,091
  • Apr 28, 2009 12:12pm Apr 28, 2009 12:12pm
and what's next. a spread of 50 pips?
  • #90,092
  • Apr 28, 2009 12:13pm Apr 28, 2009 12:13pm
Quoting gatorinla
maybe this high if you cant play with this sl spread today you have too many positions for your account...then again im not scalping.. 3053 85/93 3130/35 75 sky
for all the johny come latelys heres a post 3 hours old.. if you want more numbers read post starting in the begining of april..after all you already know this cause you work for the only bank in the u.s. whos not lossing money. its nice you can make calls after the fact.. anyway you will always have pullbacks .. the timeframe you trade should allow for this..you are probably trading to many lots.. widden you sl and your tp.. take some of the stress out of trading.. your account may not seem like it, but will grow with less loss.. sl should be 1% .. once you get comfortable you can change this..and you can always add below or above key s/r. quit giving your money away.. the man in drag gave the best call i read this morining.. risk 7 to make hundreds maybe thousands... omfuo
those who can, do. those who cant, talk about those who can
  • #90,093
  • Apr 28, 2009 12:14pm Apr 28, 2009 12:14pm
Quoting mohfaid
What do u see now man ?, where we will reverse, I think 1.3115 is very strong to it if it relly break 1.3085
I agree I just went short
"Luck favors the prepared mind"
  • #90,094
  • Apr 28, 2009 12:14pm Apr 28, 2009 12:14pm
My updated chart for anyone that is interested. I would not recommend opening any positions right now.
Attached Image (click to enlarge)
Click to Enlarge Name: apr28b.jpg Size: 115 KB
  • #90,095
  • Apr 28, 2009 12:15pm Apr 28, 2009 12:15pm
Quoting traderathome
NFA can go scr+w themselves! They REPRESENT the interests of hedge funds! And the Fx market is the only trading market where the retail guy, armed with good leverage, can make money riding the coattails of the market movers (i.e., hedge funds). And the hedge funds would rather retailers be as disadvantaged in the Fx market as they are in the stock market! And that is why they'd like others to listen to all their crap about how margin is "bad" for the retailers and should be reduced!
lawyers(NFA) making new laws with other lawyers(CFTC)......yeah that's all we need like another hole in the head......http://www.forexfactory.com/images/icons/icon8.gif


mm
He who hesitates is hesitant....which always leads to bad entries.
  • #90,096
  • Apr 28, 2009 12:19pm Apr 28, 2009 12:19pm
And just like that we have broken through resistance.
  • #90,097
  • Apr 28, 2009 12:20pm Apr 28, 2009 12:20pm
I'd be looking for shorts from now and tomorrow...
  • #90,098
  • Apr 28, 2009 12:22pm Apr 28, 2009 12:22pm
looks like euro is banging its head on the 200 sma on the 15 mim chart.
Attached Image (click to enlarge)
Click to Enlarge Name: euro chart.gif Size: 24 KB
"i wake up in the morning, and i piss excellence"
  • #90,099
  • Apr 28, 2009 12:24pm Apr 28, 2009 12:24pm
Going short at these prices is not advisable. Wait for the Daily close if we close above 1.31 then shorts are toast. They will now make more rises then falls so just be aware of that. Month end reversal moves going to happen for the next couple of weeks
  • #90,100
  • Apr 28, 2009 12:28pm Apr 28, 2009 12:28pm
Quoting jpa0827
I agree I just went short
Same here. Short at 1.3110 SL at 1.3150
"Don't work for your money, but let money work for you."
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