Trade what you see NOT what you expect | Page 859 | Forex Factory

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Why did you start trading and what do you expect from it? 19 replies

How soon after you put on a trade do you expect to be "in the money"? 28 replies

How do you see trading - Do you see it as a means to an end? 12 replies

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Trade What You See And Not What You Hope 0 replies

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Trade what you see NOT what you expect

  • #17,161
  • Jul 2, 2009 3:33pm Jul 2, 2009 3:33pm
Quoting KENNETH lEE
20 million
I don't have that much! Damn!
Just digging in the trenches like everyone else!
  • #17,162
  • Jul 2, 2009 3:34pm Jul 2, 2009 3:34pm
Quoting cisco
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?
Sounds good to me bro!
Just digging in the trenches like everyone else!
  • #17,163
  • Jul 2, 2009 3:35pm Jul 2, 2009 3:35pm
Quoting eohater
I don't have that much! Damn!
You can take on partners. Infinity, Pippi and a few others come to mind.
Hi, my name is Barry and you can keep your doctor...
  • #17,164
  • Jul 2, 2009 3:35pm Jul 2, 2009 3:35pm
Quoting eohater
Sounds good to me bro!
I'm in!
Hi, my name is Barry and you can keep your doctor...
  • #17,165
  • Jul 2, 2009 3:36pm Jul 2, 2009 3:36pm
Quoting eohater
I don't have that much! Damn!
50/50 with infi
  • #17,166
  • Jul 2, 2009 3:36pm Jul 2, 2009 3:36pm
Quoting eohater
I don't have that much! Damn!
Actually they want to raise it to 20 right now just 5 I believe.
Good Trading To All ; Ken Lee
  • #17,167
  • Jul 2, 2009 3:38pm Jul 2, 2009 3:38pm
Quoting KENNETH lEE
Actually they want to raise it to 20 right now just 5 I believe.
I still don't have enough. I could talk with some investors though.
Just digging in the trenches like everyone else!
  • #17,168
  • Jul 2, 2009 3:39pm Jul 2, 2009 3:39pm
http://forums.babypips.com/images/icons/icon1.gif Broker net capital requirements --- still more changes may be coming
By now, you are familiar with the tightening of capital requirements for forex brokers, as proposed by the NFA and ordered by the CFTC. The final increase in the Net Capital Requirement for Forex Dealer Members (FDM's) --- the label the NFA and CFTC use for forex brokers --- took effect on May 16, 2009, and basically requires that:

(1) all FDM's have Adjusted Net Capital of at least $20 million, and

(2) the largest FDM's (those holding customer funds in excess of $400 million) have Adjusted Net Capital equal to at least 5% of the amount of customer funds held.

A proposal from the NFA to the CFTC, currently pending, would change the requirement in (2), above, to say that FDM's holding more than $10 million in customer funds must have Adjusted Net Capital equal to $20 million PLUS 5% of customer funds on deposit in excess of $10 million.

Furthermore, FDM's which use straight-through-processing for ALL customer transactions would be exempt from this 5% rule.

The result of this provision is that a broker such as FXCM, which uses straight-through-processing on SOME transactions, and on SOME accounts, would remain subject to the $20 million PLUS 5% rule. But, a broker such as MB Trading, which uses straight-through-processing on ALL customer transactions, would be exempt from the 5% rule, no matter how much customer money they hold. The text of the NFA proposal sheds some light on the NFA's assessment of the relative safety of STP brokers, versus deal-desk brokers.

Here's a link to the NFA Proposal: http://www.nfa.futures.org/NFA-regul...Notc021909.pdf
Good Trading To All ; Ken Lee
  • #17,169
  • Jul 2, 2009 3:39pm Jul 2, 2009 3:39pm
Gotta run guys! I'll be on later tonight for end of Asia and London open to check on my short position.
Just digging in the trenches like everyone else!
  • #17,170
  • Jul 2, 2009 3:40pm Jul 2, 2009 3:40pm
Quoting KENNETH lEE
Actually they want to raise it to 20 right now just 5 I believe.
That's just the tip of the iceberg. Licensing, office space, customer service, electronics, etc. And the list goes on and on and on.........
Hi, my name is Barry and you can keep your doctor...
  • #17,171
  • Jul 2, 2009 3:40pm Jul 2, 2009 3:40pm
Quoting eohater
I still don't have enough. I could talk with some investors though.
call it "non wanker broker corp" stand out from the others
  • #17,172
  • Jul 2, 2009 3:41pm Jul 2, 2009 3:41pm
Might be easier to be a bank that trades or a fund . Has to be a way around being a retail broker. Wonder how much you need to trade direct without a middle man...
Good Trading To All ; Ken Lee
  • #17,173
  • Jul 2, 2009 3:43pm Jul 2, 2009 3:43pm
Quoting cisco
That's just the tip of the iceberg. Licensing, office space, customer service, electronics, etc. And the list goes on and on and on.........

I agree, whole reason I want to trade best bussiness in the world no employees ,customers, inventory or the crap that goes with it.

Now if I can just rfeplace myself with someone who can follow orders..
Good Trading To All ; Ken Lee
  • #17,174
  • Jul 2, 2009 3:53pm Jul 2, 2009 3:53pm
Quoting KENNETH lEE
I agree, whole reason I want to trade best bussiness in the world no employees ,customers, inventory or the crap that goes with it.

Now if I can just rfeplace myself with someone who can follow orders..
I'll second that. Been self employed with employees and trucks, never again. With trading you can just ride the crash all the way to the bottom.
  • #17,175
  • Jul 2, 2009 3:54pm Jul 2, 2009 3:54pm
Quoting billye
best is to be a insurer, people gives you money and will not take back till 40 yrs later................

buffet actually had big stakes in insurance company.

and how many has the goverment bailed out already. Not counting the ones they let fold..

No if you can make 6 figures plus trading, then when you incorporate you can trade your own 401k. no downside other than the learning curve. Invest in stuff other than dollars though. might not be good for nothing after a while. maybe diamonds, a little gold, some platnuim, silver. diversify.
Good Trading To All ; Ken Lee
  • #17,176
  • Jul 2, 2009 3:55pm Jul 2, 2009 3:55pm
Quoting BenScoobert
I'll second that. Been self employed with employees and trucks, never again. With trading you can just ride the crash all the way to the bottom.
But to findout who to blame all we have to do is look in the mirror.
Good Trading To All ; Ken Lee
  • #17,177
  • Jul 2, 2009 3:56pm Jul 2, 2009 3:56pm
Quoting eohater
And what does it take to just be a broker? That's what I'd like to know.
Let me tell a story about becoming a broker!

Back in 02, when i was first discovered the Forex Market, it was through a broker here in Virginia. This guy's business model was to hire and train mentors to act as salesmen, sell his trading system and also teach people how to use it. Coming from the insurance business he promised the mentors residuals on all the people they recruited. Sort of like Am-Way and Mary-Kay. Needless to say the new accounts were opened through his brokerage.

I think he was sincere about the concept and did fairly well for several years. Even to the point of applying for bank status. He hired one of the wheels from FXCM to pull it off for him. I remember when the greasy suite showed up.

He also had a vision of an IPSO. He was promising penny stocks to all that remained loyal ........just before his account was margin called!

Moral is...keep it simple and trade yur own money....
  • #17,178
  • Jul 2, 2009 4:00pm Jul 2, 2009 4:00pm
I hear there is good money to be made in Nevada. Anybody ever heard of the Bunny Ranch?
  • #17,179
  • Jul 2, 2009 4:11pm Jul 2, 2009 4:11pm
Quoting PippiNole
I hear there is good money to be made in Nevada. Anybody ever heard of the Bunny Ranch?
I met a girl at Ceaser's one time that claimed she worked there......she called it "pussy prison"
  • #17,180
  • Jul 2, 2009 4:13pm Jul 2, 2009 4:13pm
Quoting PippiNole
I hear there is good money to be made in Nevada. Anybody ever heard of the Bunny Ranch?
Ah yes...the fur bank!

God knows, if I'd have been a female, my father would have had a hooker for a daughter. Best little enterprise going. Sittin' on a damned gold mine.

BTW, one of those ranches out there is a stock traded company. I think it's the Mustang Ranch.
Hi, my name is Barry and you can keep your doctor...
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