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NFA - "No more Limit or Stop Loss orders"

  • #181
  • Jul 7, 2009 8:00pm Jul 7, 2009 8:00pm
Quoting liquidmoment
I do not want to alarm anyone, but I believe that these recent changes to the way we trade by the NFA is part of a bigger plan to bring down the US $, which in turn will enable a move towards a new super currency that will combine Canada, Mexico and USA. The birth of the almero is just round the corner IMO.

You don't need to be a rocket scientist to see what would happen to the $ if 60-80% of retail forex traders moved their accounts out of the USA.

Am I being paranoid??? I guess we will just need to wait and see how it all plays out.

September...
Come on are you for real, there is a better chance of the russian ruble over taking the kiwi
  • #182
  • Jul 7, 2009 8:32pm Jul 7, 2009 8:32pm
Quoting endroute
Come on are you for real, there is a better chance of the russian ruble over taking the kiwi



Since when does having an opinion become some sort of "conspiracy" ?

http://www.globalresearch.ca/index.p...xt=va&aid=7854
  • #183
  • Jul 7, 2009 9:56pm Jul 7, 2009 9:56pm
Brokers wars, fxdd vs. fxcm, and fxdd is not even a member of NFA. LOL. Now that is funny stuff.

Quoting paradoxical
Below is a statement by FXDD. These new rules don't really affect me. If I want to hedge, I simply open two accounts. The same thing if I want to have more than one position on the same pair, which i usually don't....I open two or more accounts. There are ways around everything, and from what I read here, it's not a big issue. The socialist United Sates, led by Obamaman doesn't know anything about economics, and wants to make it look like they're doing something against hedge traders, who they blame the collapse of the economy on.

From FXDD "By...
  • #184
  • Edited 11:35pm Jul 7, 2009 10:06pm | Edited 11:35pm
Quoting sergej_2
Jason...
if the intention is not to scare (pressure).... then why is there a deadline of July 21 2009... for transferring to the UK division.....

why not let us test the modified platform.... and then if we don't like it...
or it's respnsiveness.... we can decide to switch....

why....? this injunction....?
That is not a deadline, that is just to transfer it seamlessly with same acct # and PW by the deadline of the rule. You will always be able to transfer the account later. Nobody can stop you from doing that, it is your freaking account.
  • #185
  • Jul 7, 2009 10:12pm Jul 7, 2009 10:12pm
Hmmm...that is something to think about, HEY METAQUOTES, WHEN ARE YOU GOING TO TAKE A POSITION ON HOW IT WILL BE HANDLED SO THE EA CAN BE TUNED UP. he he? Only 24 days left, just do it, change MT4 to aggregate open positions, not individual orders, or put the OCO functionality on. Russians are good programmers, so do it.

Quoting sergej_2
using foreign brokers....
if at anytime during a calender year your account balance is greater than US$ 10,000 you will need to file a TD F 90-22.1 form "report of foreign bank and financia accounts"..... by June 30 the following year....notifying the US Treasury of it's existence.......to avoid potential criminal liability....
  • #186
  • Jul 8, 2009 3:38am Jul 8, 2009 3:38am
Quoting wwwin
That is not a deadline, that is just to transfer it seamlessly with same acct # and PW by the deadline of the rule. You will always be able to transfer the account later. Nobody can stop you from doing that, it is your freaking account.

and
about weak minds....

email from fxcm advising deadline....
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  • #187
  • Jul 8, 2009 4:25am Jul 8, 2009 4:25am
Quoting Codebreaker
Why not simply ignore these half-baked "regulations"?

The law of the US stops precisely 12 miles beyond the beach at Cape Hatteras. Just open an account in London (like I have) and get on with it.

Believe it or not, the UK is on the ITAR list of "uncooperative tax havens"!!! What a FANTASTIC feather in the cap of good ole' England!

No wonder all the Russian billionaires live in London. The UK has one of the laxest tax regimes in the world yet is perfectly stable.

Just move the damned account "offshore" and screw Uncle Sam!
(originally posted in a different thread)
  • #188
  • Jul 8, 2009 5:11am Jul 8, 2009 5:11am
Quoting SteveHopwood
Yes it is. A 'simple call' presumably results in obsfucation at best, downright lying at worst.

I trade baskets of trades using relative strength. I have written a successful robot to do this for me; others are using it with equal success.

Take the case where, for example, the JPY is weak against a basket of other currencies. Those pairs become buy against the JPY.

The basket can sometimes become 'stuck' in that it does not move in my favour for a few days, sometimes even weeks. Eventually, the basket will even out and return to...
1.to confuse, bewilder, or stupefy.
2.to make obscure or unclear: to obfuscate a problem with extraneous information.
3.to darken.

Thanks Steve, i'll add that to my vocabulary.
Less is more...
  • #189
  • Jul 8, 2009 8:29am Jul 8, 2009 8:29am
Quoting sergej_2
Jason...
if the intention is not to scare (pressure).... then why is there a deadline of July 21 2009... for transferring to the UK division.....

why not let us test the modified platform.... and then if we don't like it...
or it's respnsiveness.... we can decide to switch....

why....? this injunction....?
Hi sergej,

The July 21 deadline is for anyone that wants to move their account to FXCM UK before the FIFO rules are enacted. There is an opt-in deadline on August 5 if you would like to test the modified platform before deciding.

Even if you were to miss all of the deadlines, it doesn't mean that you have lost the opportunity forever to move your account. If you miss the deadlines, you could submit an FXCM UK application and request the funds be transferred to the new account. The online opt-in simply allows you to have your account transferred without having to complete a new application.

FXCM is giving our traders the flexibility to either stay with FXCM LLC and continue using stops and limits through OCO orders, or move to FXCM UK and continue trading based upon individual position management.

Jason
  • #190
  • Jul 8, 2009 8:33am Jul 8, 2009 8:33am
Quoting sergej_2
and
about weak minds....

email from fxcm advising deadline....
Yes, ,"Great spirits have often encountered violent opposition from weak minds." Albert Einstein ,,, a little knowledge is a dangerous thing...of course you will be able to transfer the account after that, read here, and see the pic. As I said it is your freaking account and you do with it what you want.
http://forexforums.dailyfx.com/nfa-f...ifo-rules.html
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  • #191
  • Jul 8, 2009 9:08am Jul 8, 2009 9:08am
Quoting Codebreaker
(originally posted in a different thread)
[i]Why not simply ignore these half-baked "regulations"?

The law of the US stops precisely 12 miles beyond the beach at Cape Hatteras. Just open an account in London (like I have) and get on with it.

Believe it or not, the UK is on the ITAR list of "uncooperative tax havens"!!! What a FANTASTIC feather in the cap of good ole' England!

No wonder all the Russian billionaires live in London. The UK has one of the laxest tax regimes in the world yet is perfectly stable.

Just move the damned account...
Yeah, but the only way to withdraw funds from UK for some brokers is by bank wire, so there would be a record of money coming in to your US bank account...hint...hint...hint...if they would offer withdrawal through Paypal, and if you have a Paypal debit card, you can withdraw cash...... LOL. Hey brokers with UK offices, are you listening to requests!!!
  • #192
  • Jul 8, 2009 9:48am Jul 8, 2009 9:48am
People, what is so hard about using OCO orders? It's just as easy as using Stop/Limit orders. In fact, it's the exact same! So stop taking drastic measures of moving your accounts to the UK.

Unless your EA is the most profitable thing since "slice Bread", maybe I could see your account moved overseas. As for the rest of us "manual" traders, take your trading skills to the next level by using OCO orders. An aspect of a profitable trader is, "learning to move with the times". A profitable, supper trader is always ready to evolve in keeping up with the times. Super traders never get complacent. They are forever learning, improving, and mastering their skill-set.
  • #193
  • Jul 8, 2009 9:48am Jul 8, 2009 9:48am
I'm a new forex trader but i just got an email from GFT that said nothing is changed with them. I'm not sure how many other brokers are affected but it looks like the ones that use MT4.

I dont know if this helps anyone...

www.gftforex.com/getthefacts
  • #194
  • Jul 8, 2009 10:06am Jul 8, 2009 10:06am
very englightening posts from fxinternals & paradoxical...

i think the paranoia is starting to wind down. that doesn't mean though we should live without caution.
  • #195
  • Jul 8, 2009 10:33am Jul 8, 2009 10:33am
Quoting iliveforex
I'm a new forex trader but i just got an email from GFT that said nothing is changed with them. I'm not sure how many other brokers are affected but it looks like the ones that use MT4.

I dont know if this helps anyone...

www.gftforex.com/getthefacts

Us GFT traders dont have to do anything. GFT has always been a Net based FIFO broker. The reason I chose GFT was because their platform functioned like most Stock and Futures Brokers platforms. A lot of traders didn't like GFT because of their TOM NEXT and profits/losses are on hold and aren't released for 3 days (or so). But in most markets, thats how its done.
  • #196
  • Jul 8, 2009 11:16am Jul 8, 2009 11:16am
wow.... no further comments.... just .... just... wow ....


Quoting sergej_2
and
about weak minds....

email from fxcm advising deadline....
  • #197
  • Jul 8, 2009 11:23am Jul 8, 2009 11:23am
Yeah, for manual traders, the only thing that changes is the Trailing Stop not being trailing automatically, but that can be done thru scripts or EA.

Quoting Jhig
People, what is so hard about using OCO orders? It's just as easy as using Stop/Limit orders. In fact, it's the exact same! So stop taking drastic measures of moving your accounts to the UK.

Unless your EA is the most profitable thing since "slice Bread", maybe I could see your account moved overseas. As for the rest of us "manual" traders, take your trading skills to the next level by using OCO orders. An aspect of a profitable trader is, "learning to move with the times". A profitable, supper trader is always ready to evolve in keeping...
  • #198
  • Jul 8, 2009 11:26am Jul 8, 2009 11:26am
Quoting liquidmoment
Since when does having an opinion become some sort of "conspiracy" ?

http://www.globalresearch.ca/index.p...xt=va&aid=7854

You posted an "opinion" that is based on the idea of the Amero, a thoroughly discredited idea, and then linked to a conspiracy theory website that, amongst other things, supports the 9/11 Truthers (i.e. they believe the 9/11 attacks were not terrorist attacks, but an 'inside job' by the US government-- there were no planes, the Twin Towers were brought down by explosives! ).


So this is the type of trader I've been making my money off. I've always wondered who was on the other side of my trades
  • #199
  • Jul 8, 2009 11:55am Jul 8, 2009 11:55am
I have 2 brokers (FXCM and MB Trading). Since MB Trading has been applying FIFO for some time now, and I’m already used to it, I guess I’ll be trading my MB account until FXCM’s platform is upgraded with the new “OCO”.

Jason,
I’m a scalper. MB Trading has a “Market + TTO” feature. Which enables me to enter at market, and apply my defaulted OCO automatically? All with just one click, and saving a lot of time.

Will FXCM have a similar feature? Where I can default my OCO by pip differential?

For example “Market + OCO”?

Don’t feel comfortable moving my money overseas unless something big happens.

Thanks
Money Talks - Wealth Whispers . . .
  • #200
  • Jul 8, 2009 1:03pm Jul 8, 2009 1:03pm
Quoting * Snow *
I have 2 brokers (FXCM and MB Trading). Since MB Trading has been applying FIFO for some time now, and I’m already used to it, I guess I’ll be trading my MB account until FXCM’s platform is upgraded with the new “OCO”.

Jason,
I’m a scalper. MB Trading has a “Market + TTO” feature. Which enables me to enter at market, and apply my defaulted OCO automatically? All with just one click, and saving a lot of time.

[FONT=Times...
The trading platform will not have "Market + OCO" orders. You would have to create the OCO after the market order is executed. But I agree it would be a useful feature. I will send your suggestion to our development team.

Jason
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