Trade what you see NOT what you expect

Timing is everything.....I will be right there with you!

I think it is time now to have another one!

Gonna go out and find a bottle of Ginger Wine.......perhaps one of those
"gravel and stones" for the 4th!

Is it with Island Rum or vodka....... have to try them both!

WTF!!! I have not seen any shit like this.

Looks like the h1 is going to give us a bearish engulfing candle.

Shit...If that is true we better find a broker....in another country!

Quick

My fxcm account only has $200.00 in it and I haven't used it in at least 2 years.

They did say if I wanted, they'd switch my account to the UK which would allow hedging, sl's and limit orders.

I'm surprised my other brokers haven't said something about this.

I haven't heard any of this from either of my brokers.
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1) FAQs for NFA FIFO Rules
***Watch This Video Presentation To Learn More About FIFO***

NFA Compliance Rule 2-43(b)

1. Q. Why is the NFA imposing these new rules?
   
   A. When it comes to mandating First In First Out execution (FIFO), the NFA stance is that FIFO provides more transparency to customers, offering a more accurate picture of the P/L on multiple positions than viewing profit or loss on an individual position.
2. Q. What is First In First Out (FIFO)?
   
   A. First In First Out simply means that when you have multiple positions in the same currency pair, the position which was first opened will be the first to be closed. This execution process is the common practice in the US equities and futures markets.
3. Q. Why will complying with the FIFO rule require that I lose the ability to place stop-loss and limit orders as well as the ability to close positions from the Open Positions window?
   
   A. Stop-loss and limits orders do not necessarily close the oldest position on a currency pair first. The same is true for the ability to close a position from the Open Positions window.

FX Trading Station

1. Q. What will happen with my existing positions?
   A. As stop-loss and limit orders will no longer be in compliance with US regulations, they will be removed from all FXCM LLC accounts after July 31st. If you choose to continue trading with FXCM LLC, you will need to place Entry Orders to manage your risk on any open positions. OCO entry orders will be available at the beginning of August.
2. Q. May I still see individual open positions, by ticket? May I see individual ticket P&L
   
   A. Yes, you may view individual open positions in the open positions window, or load an account report at any time. Profit and loss is displayed in real time. We do however encourage clients to spend time familiarizing themselves with the Summary Window as this is the best way to see your net positions for each pair at any given time. Watch the video above to learn more about the Summary Window.
3. Q. I like to trade on the charts, how will that be affected? How can I close a position from the chart?
   
   A. You can still place market and entry orders from the chart as you did before. Stop-loss and limit orders will be disabled as will the ability to close positions without placing opposing market orders.
4. Q. If I can't close trades through the Open Positions window, how will I do so?
   
   A. Simply place an opposing market order on the same currency pair, for the same amount as your open position.
5. Q. If I can't place stop-loss and limit orders, how am I expected to manage the risk of my positions?
   
   A. Stops and limits are essentially two entry orders that are linked to an individual open position. If a stop-loss or limit order is triggered the other is canceled. FXCM has introduced a new feature called OCO (One Cancels the Other) entry orders, which will provide the same functionality that can serve as stop-loss and limit orders except that they are not linked to any positions.
   
   For example, if you bought GBPUSD at 1.4700 and wanted to take profits one hundred pips above and cut your losses one hundred pips below you would simply need to place two entry orders to sell at 1.4800 and 1.4600. You would then link the two orders as OCO so that if one order triggered, the other would automatically be canceled. This would prevent you from entering into a position that you did not intend if the price action were to reverse.

OCO Entry Orders?

1. Q. What are OCO Entry Orders
   
   A. OCO stands for "One Cancels the Other. It simply means that if one part of the order is executed, the other part will be automatically canceled. For instance, all stop-loss and limit orders on the FX Trading Station are OCO orders (no longer available for FXCM LLC accounts after 7/31/2009). That is to say that if a stop hit, the limit would automatically be deleted.
2. Q. How do I place an OCO Entry Order?
   
   A. Please view the video above and the FX Trading Station User Guide.
3. What will happen to the OCO Entry Orders if I close the position via a market order?
   
   A. While OCO Entry Orders may have similar functions to stop-loss and limit orders, they are not in fact attached to an existing order. Therefore, any OCO Entry Orders that were placed with the intention of managing the risk on a given position will have to be deleted should that position be manually closed by a market order.
   
   Note that if your account should suffer a margin call, all of your open positions will be automatically closed. Any protetive OCO entry orders must then be manually remove to avoid entering new positions.
4. Will OCO Entry Orders only be available to FXCM LLC clients?
   
   A. The OCO Entry Order functionality will be available on all versions of the FX Trading Station. However, if the account does not have hedging enabledthe OCO orders executed in the opposing direction of open positions will effectively offset those positions. Conversely, a market order to buy 100K GBPUSD will NOT be offset by an entry order to sell 100K GBPUSD if the account has hedging enabled.

MetaTrader4 (MT4)

MetaTrader4 (MT4) clients who wish to maintain their current platform functionality (with hedging enabled) may transfer to FXCM UK.

1. Q. I am an MT4 user and wish to keep my account with FXCM LLC. How will my account be affected?
   A. To date, we have received no indication from MetaQuotes that they will be able to comply with First In First Out execution by July 31st, 2009. As such, the combined changes brought about by NFA Compliance Rule 2-43(b) will mean that traders will no longer be able to trade MT4 with US regulated brokers. Assuming that MetaQuotes is able to comply, there will still be major implications: traders will have fewer order choices, traders will have drastic limitations to their risk management options, the vast majority of Expert Advisors will no longer be functional
2. Q. I am an MT4 user that applies Expert Advisers, how will they be affected?
   A. It depends. Some expert advisers use only market order to both open and close positions. These EAs will comply with FIFO execution. Other EAs do assign stop-loss and limit orders to specific ticket numbers, if MetaQuotes puts through a FIFO patch these orders will get rejected by the platform.

Forex System Selector

Forex System Selector clients who wish to maintain their current platform functionality (with the hedging enabled) may transfer to FXCM UK.

1. Q. I use the Forex System Selector platform, how will my account/portfolio be affected?
   A. Tradency, the company behind the Forex System Selector software will also be putting through a patch to comply with the new rules. The following changes will be in effect: 1) Adding StopLoss and TakeProfit levels to open positions will be disabled for FXCM LLC accounts, 2) When trying to close a position that is "younger" than another position on that same currency pair, you will receive an alert message explaining that you need to close the "older" position first, 3) Multi-change on the "Positions Tab" will be disabled.

Transferring to FXCM UK:

1. Q. If I switch my account to FXCM UK what protection is available?
   
   A. The Financial Services Authority (FSA) is the government agency that overseas spot FX trading in the United Kingdom. The market has been regulated in the UK much longer then it has been in the US. Accounts with Forex Capital Markets LTD (FXCM UK) are fully segregated in accordance with UK financial regulations. The FSA, one of the world's most respected financial regulatory bodies, regulates FXCM UK. In the unlikely event of FXCM UK's bankruptcy, client assets would not be exposed to any bankruptcy proceedings.
2. Q. What will happen with my existing positions if I transfer to FXCM UK?
   
   A. All positions that are opened before 4pm ET on July 24th will not be affected. If you have open positions with stops and limits already in place, the positions will remain as is when the market re-opens on Sunday July 26th.
3. I am a US citizen. Can I open an account with FXCM UK?
   
   A. Yes.
4. Q. With my account at FXCM UK, will I need to phone the UK to get support?
   
   A. FXCM’s global offices are open 24 hours a day, seven days a week. You may continue contacting the same office and support staff you have been accustomed to, through the same familiar telephone, chat, and email methods, regardless of where your trading account is set up.
   
   
5. Q. How may I deposit to my account if it is housed with FXCM UK?
   
   A. FXCM UK provides for bank wire, debit card, credit card, and check deposits and withdrawals. Please note there are different website links and funding details associated with accounts at FXCM UK . Visit FXCM - Depositing Funds Options for full details. Please also note clients have the option to hold their accounts in: GBP, EUR, USD, JPY, CAD, and NZD. US clients can send funds to a US bank account.
6. Q. Do I need to download any new software if my account is with FXCM UK?
   
   A: No, you will use the same trading station. No additional download is required.
7. Q. Will I be able to place stop-loss and limit orders on individual positions after I transfer to FXCM UK?
   
   A. Yes. All FXCM UK accounts will allow clients to place stops and limits.
8. Q. Will I be able to close positions from the open positions window if I transfer to FXCM UK?
   
   A. Yes.
9. Q. Will hedging be enabled on my account after it is transferred to FXCM UK?
   
   A. Yes. All FXCM UK accounts default to have hedging enabled. That is to say that buy and sell positions will no longer offset each other. Buy and sell positions can now be held on the same account.
10. Q. Will OCO Entry Orders be enabled on my account after it is transferred to FXCM UK?
    
    A. [u]Yes. However, if the account does not have hedging enabled the OCO orders executed in the opposing direction of open positions will effectively offset those positions. Conversely, a market order to buy 100K GBPUSD will NOT be offset by an entry order to sell if the account has hedging enabled.
11. Q. What is the cutoff date to opt in to transfer my account to FXCM UK?
    
    A: Clients must submit the opt-in form by the end of Tuesday July 21st.
12. Q: What happens if I don’t transfer before the deadline? Can I transfer after? How?
    
    A: Clients must submit the opt-in form by Tuesday July 21st in order to have their accounts seamlessly transferred to FXCM UK before the FIFO rule takes effect. If you choose to move over after the deadline you will have to submit a separate transfer form and close out all open positions before FXCM can move your account.

2 words for you
alpari uk

ive had no probs and hedged trades are allowed on uk brokers

my broker has always had OCO orders. I guess the automatic stops and TP's you setup will not be available any longer and have to be set mainlly.

There is also in the works a limit on leverage .. max 100:1 on majors and 25:1 on non..

can you say BIG BROTHER CRAP. In the name of protecting us.. Thanks

Need to move to uk and trade thru the sports betting guys and be tax free. But do you need to be a citizen or just residence ? anyone know ?

And what does it take to just be a broker? That's what I'd like to know.

iirc you can open one here without being british https://my.alpari.co.uk/en/openliveaccount/

take a look, some usa info on the right

EDIT: For all other countries: a copy of your passport, ID card or driving licence certified as a true copy by a notary, lawyer or bank manager a copy of a recent utility bill (not mobile phone) or bank statement bearing your name and current address and certified* as a true copy by a notary, lawyer or bank manager (certification must include all detail of the certifier).

$$$$$$$$$$$$

Ok, but how much?

now then EO, didnt you say you have a little spare cash?

I had plans for it, but I wouldn't rule out the opportunity.

20 million

I'm guessing that start up costs would be 20 mil minimum.

That's what I see.

I want a position on the board that pays big bucks and only requires me to show up a couple of hours every 6 months or so.

Can that be arranged EO?