Auslanco - GBP/JPY and GBP/USD (newstrade)

Does anyone know what the reason behind all those crazy law changes are?

seriously i have been thinking whom to ask this ...does anybody know?

Control...// Greed
GOVERNMENT control.. on every thing..

Banks are theirs now... GM is theirs... They wanna be in control..

Someone should ask Rockafellas... illuminatis... This... what the hell they want???

I just got this mail from a broker I stop using a few years back (they still mailing me) it looks that somebody is panicking


By now you are probably well aware that NFA has made a new rule that prohibits US Forex Dealer Members from carrying customer accounts with opposing positions in the same account past the end of the trading day ("no -hedging"). The rule also requires all positions to be closed in historical order, otherwise known as 'first in first out' (FIFO). There has been wide speculation among user groups what these changes may bring, how they are going to affect the Metatrader platform, how automated trading scripts are going to be affected (Expert Advisors) and what retail trading is going to look like in the future.

The 'No-Hedging' rule has been in effect for over a month now and as many of you can attest most of the statements of "doom and gloom" have been highly exaggerated. The FIFO rule implementation has been extended once already and there is continuous talks amongst all companies, platform vendors (software companies), and NFA as to what will be permitted and how things should be working out. In the midst of these changes some dealers have decided to use the rule changes as a selling point for their offshore service centers. They try to amplify the uncertainty and to play on the customers' fears. It is unclear if they are well equipped to maintain a properly operating MT4 platform in these jurisdictions. Most of them have very little history of operating one. It is certain though that it would be costly and inconvenient to close everything and move an account to an untested firm.

In the wake of all this speculation we at FXDD would like to assure you once again that we will do our best to make sure you can continue trading without having to worry about how things may change for you. We are working with the platform vendors, carefully examining all possible options, and working diligently with NFA on the progress of our membership. Our advice is not to make hasty assumptions based on the loose talk from people who spread rumors. If we are to make any further changes to our platforms we will make sure you are informed well in advance and you are given all possible options to consider. We will also try and keep you updated on a regular basis to let you know what our plans are.
Thanks as always for being a FXDD customer.

Sincerely,
The FXDD Team

there is no need to worry i think
ok i never hedge,
but about SL TP i think there will be other brokers who would let that
there are always other opportunities.. this is forex.

i hope this is not "dear diary moment" of having those options in our platforms :/

Technical:
1. Daily have closed below previous month low and 50 EMA...

2. Head and shoulder on daily chart

Fundamental:

1. Last NFP was lower than expected
2. Second stimulus plan talk is sending negative signal to the market about recovery

considering all these, it looks like price gonna run down to 151.00 and then 150.00...149 area is really important. We can see some bounce in that area and start ranging between 150.00(-38.2%) to 157.00(38.2%) .. A close above 157.00 will bring some smile in bulls camp until then hug bears...man its gonna be a sweaty summer...

Could this be a bullish hidden divergence on rsi and macd ?

There's some talk that at OANDA the new NFA rule will be simply have a business as usual response due to OANDA's prior rule of no hedging and FIFO on limit orders. What this entails for pre-set SL and TP levels for particular orders however is still an open debate. Can anyone confirm because even though OANDA staff have provided this assurance, it wasn't posted on the official forums but rather to only a few of its customers.

I'm researching Canadian brokers I've had it unfortunately I still have to live in the US

Am wating for you....

No 1.6X next week
No 15X end month

See what happen..Good luck to all

Hello tonycashflow, Ladybird, Beljevina, mrroboto, mansaf6, Oilman, jimsavage, mauf, Downrigger, dondon

PB and Piters around......must mean we are diving further.

As the US economy slips into deflation there are 2 factors the government is aggressively seeking to address. Stabilization of the dollar, and opening additional revenue streams to bolster the government. There were 2 recent articles that point to changes that will potentially affect ALL speculative markets.

First, in yesterday's NY Times,

"U.S. Considers Curbs on Speculative Trading of Oil"

"A growing number of critics have blamed some of the extreme volatility (of prices) on the role of purely financial investors — those who are simply betting on the direction of energy prices, as opposed to those who actually use such products, like airlines.

Federal officials said “speculative” traders were primarily those that the agency defines as “non-commercial,” which are essentially financial investors who are not users or producers of the commodities and are primarily interested in betting on the direction of prices."

If they succeed in placing protectionist restrictions on energy speculation, the currency won't be far behind. the logic follows that Forex is an industrial tool created for countries to lock in a currency price at time of contract for goods prior to fulfillment on the actual delivery date (when the 2 currencies may have a different valuation). So, in simple terms, they may seek to roll back the FX market once again to only institutional traders and banks, or heavily levy speculative trading to curb the influence of the retail market on currency fluctuation.

Here's a clip from June 25th Bloomberg,

"Louis Gerstner, the former IBM CEO, said that short-term investment gains should be taxed at 80 percent as a way to counter the culture of greed on Wall Street.

“If you buy something -- a stock or a bond -- in the morning, and you sell in the afternoon, the tax probably ought to be 80 percent,” said Gerstner, also a former chairman of Carlyle Group, the world’s second-largest private equity firm.

“If you hold it for six months, maybe it ought to be 60 percent,”

This statement was made by the former Chairman of the Carlyle Group, not some anonymous commentator. The US is going to start looking for ways to generate government revenue from anything they can.
Since most Americans blame Wall Street for the financial crisis, it is an obvious scapegoat, so it will be very easy (and popular) to pass legislation imposing punitive taxes on the speculative markets.

If you think moving an account abroad is a solution, I can assure you the G8 and World Bank will be on board to make these changes a global benchmark once they're enacted in the US.

We have to wait and see at this point how bad the global crisis gets, and how severe the reaction will be towards the speculative markets.


In the meantime, back to trading!

3P around , Pandora, Piters and Pkimnyc

perhaps a bullish classic divergence? if we get a higher low on your rsi?

Bro, I need to go, Q stuck in his Thinking Room , I need to find the key. He ask my help. See you in London.

p/s: Next time I will ask Q, to throw away the door.

you show up after packing pips.. Happy for ya ..I am not myself this week..i take pips and give pipsis back so it mean i collect little and gave double back.

but, i thought he said "THINKING ROOM, DO NOT DISTURB!"?

I think he is having a BULISH daily Divergence..