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  • #184,261
  • Jan 24, 2010 9:45pm Jan 24, 2010 9:45pm
Go New Orleans baby! The leverage does proposition does suck but it's not that big of a deal to me personally as I really don't trade much more than 2 percent of my account and usually 1/2 mini lots or single mini lots per trade. Also, I don't ever run ridiculous stops but that's just my opinion.
  • #184,262
  • Jan 24, 2010 9:46pm Jan 24, 2010 9:46pm
Quoting tingwei_98
i agree that means small time business is no longer be avail to at least 40% of current traders..

they can always go trade futures with infinity . On a 10 k one can trade 10 contracts eu . That is $125 per pip for day trades . Overnight trades need 6800 margin per contracts.

One contract 6e is $12.5 per pip.

Wuithg currency futures you get loads of margin for day trade and sure can blow an account up quickly
Blogging daily now at www.volume.zone
  • #184,263
  • Jan 24, 2010 9:47pm Jan 24, 2010 9:47pm
Quoting malcolmb14
1:10 .... nothing wrong with that. It will stop alot of newer traders blowing their account in under a week. I think it is a great rule.
It's not your or their money to decide, if a newbie blows an account it is their business. How about just not letting any of us trade then, what if some one told you you can't trade how would you feel. Whats next you can't open a bank account with out at least a hundred thousand dollars in it. Every one has a right to their own opinion but mine is that they stay the hell out of my financial business. Let me decide for myself what I am willing or not willing to risk.
  • #184,264
  • Jan 24, 2010 9:49pm Jan 24, 2010 9:49pm
Quoting realjumper
But that isn't the point. I am free to trade what I *choose*....in the same way that I free to spend my money on whatever I choose. I don't want the govt to regulate the way in which I *choose* to spend my money.

New traders don't have to blow their accounts. The only reason they do so is because of greed. The same is true for casino gamblers and horse racing gamblers. Governments must not interfere unless they are going to regulate the way in which I spend my money....if that is allowed to fly, hello police state!!
Casinos and the tracks don't give you 1:10 leverage, or any leverage for that matter. Your analogy is flawed. You should only spend what you actually have. Do you load up your forex account with your credit card? No, 'cause that would be stupid. Excessive leveage is stupid too.
Si vis pacem, para bellum.
  • #184,265
  • Jan 24, 2010 9:51pm Jan 24, 2010 9:51pm
Quoting Duce
Casinos and the tracks don't give you 1:10 leverage, or any leverage for that matter. Your analogy is flawed. You should only spend what you actually have. Do you load up your forex account with your credit card? No, 'cause that would be stupid. Excessive leveage is stupid too.

I think 10% of newbie load their acount with their credit card like $500?
Learn the words... speak the words
  • #184,266
  • Jan 24, 2010 9:52pm Jan 24, 2010 9:52pm
Quoting Duce
Casinos and the tracks don't give you 1:10 leverage, or any leverage for that matter. Your analogy is flawed. You should only spend what you actually have. Do you load up your forex account with your credit card? No, 'cause that would be stupid. Excessive leveage is stupid too.
The analogy is only flawed if you take leverage into account. I was making the example that gamblers at a casino lose money because of greed....the same way a newbie blows his account....because of greed.

I'm not going to split hairs with you....most people I imagine will see the point
Doing what you like is Freedom. Liking what you do is Happiness.
  • #184,267
  • Jan 24, 2010 9:54pm Jan 24, 2010 9:54pm
Quoting realjumper
But that isn't the point. I am free to trade what I *choose*....in the same way that I free to spend my money on whatever I choose. I don't want the govt to regulate the way in which I *choose* to spend my money.

New traders don't have to blow their accounts. The only reason they do so is because of greed. The same is true for casino gamblers and horse racing gamblers. Governments must not interfere unless they are going to regulate the way in which I spend my money....if that is allowed to fly, hello police state!!
so if you do not like the 1 :10 ruling ....then trade options.

I always thought the 1:400 leverage in fx was nuts and have been trading 1:50 for along time myself. One only need massive leverage if one has $500 in the account and want to try and make $500 overnight. That is why i said the ruling is good,

If you have 30 k in the account 1 standard on eu is only 8k margin , I risk 1% per trade , so if I have 30 k account that is 300 per trade. Even if i wanted to trade 3 lots with 50 pip risk (1500 and raise my risk to 5% i could). So i do not see an issue with them,m raising the margin requirements to be honest . It will NOT effect those that are using correct MM.

If you do not like open a futures account... margin requirement is less intraday
Blogging daily now at www.volume.zone
  • #184,268
  • Jan 24, 2010 9:57pm Jan 24, 2010 9:57pm
Quoting malcolmb14
<snip> I always thought the 1:400 leverage in fx was nuts and have been trading 1:50 for along time myself. </snip>
And there you have it....freedom of choice! You *chose* what you believed what was suitable for you. Perfect. I do not wish the government to choose what they deem to be suitable for me.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #184,269
  • Jan 24, 2010 9:58pm Jan 24, 2010 9:58pm
Quoting malcolmb14
1:10 .... nothing wrong with that. It will stop alot of newer traders blowing their account in under a week. I think it is a great rule.

true...however it will also stop newbies from even opening accounts....how would anyone trade with less than 5k in their account is this goes into effect? I dont believe their true intentions are to protect the retail trader, it just doesnt make any sense. If they follow on this, smaller traders will be taking larger risks due to risking more of their acct balance to pay for lots.

Personally I am a student and i trade for a living. Trading makes my life a whole lot easier considering I can make more in a few minutes trading than most people working an 8-10hr job, then have the rest of the day to concentrate on studies and whatnot. Right now I have less than 10k in my acct and if they change this rule, this will drastically change my life.

This countries regulations are slowly straying away from true capitalism, we are slowly getting squeezed. One should have their choice of leverage up to 200:1. Hey, if you blow ur acct, Caveat Emptor, pal.
  • #184,270
  • Jan 24, 2010 9:59pm Jan 24, 2010 9:59pm
Quoting realjumper
The trend is still down. I won't counter trend trade with PA like this....I'll wait
Talked this weekend to the person who teached me.He is HUgE investor.He said med term still down.And we now either in 3 or 5 wave.
  • #184,271
  • Jan 24, 2010 9:59pm Jan 24, 2010 9:59pm
Quoting live4pips
It's not your or their money to decide, if a newbie blows an account it is their business. How about just not letting any of us trade then, what if some one told you you can't trade how would you feel. Whats next you can't open a bank account with out at least a hundred thousand dollars in it. Every one has a right to their own opinion but mine is that they stay the hell out of my financial business. Let me decide for myself what I am willing or not willing to risk.
it was not that many years ago there was no retail fx trading ...THEY that you are referring to made it available to all.

so stop moaning about new ruling , be happy that you have played on their turf for a while and hopefully enjopyed the fruits.

as i said fx is not the only thing to trade out there. There are plenty more highly leveraged instruments like options , futures and CFDs that will enable you to lose money fastert in the market than a good night at the casino. If you really want max leverage try spread betting.

The ruling are not made to screw you, the retail investor , they are being put in place to protect you,

Hands up in here who has blwon an acocunt due to overleverage at 1:400 leverage.

Malc has his hands up and sheepish look on his face ... even though it was many moons ago
Blogging daily now at www.volume.zone
  • #184,272
  • Jan 24, 2010 10:01pm Jan 24, 2010 10:01pm
Any body buy gold here?
What do you think about gold, atm?
  • #184,273
  • Jan 24, 2010 10:02pm Jan 24, 2010 10:02pm
Quoting realjumper
The analogy is only flawed if you take leverage into account. I was making the example that gamblers at a casino lose money because of greed....the same way a newbie blows his account....because of greed.

I'm not going to split hairs with you....most people I imagine will see the point
realjumper...yes, I was taking leverage into account. My retort to you is more to help newbie's see how leveraging is insane. MM has always been my credo. I tried to be witty and sarcastic at your expense. I apologize for that.
Si vis pacem, para bellum.
  • #184,274
  • Jan 24, 2010 10:03pm Jan 24, 2010 10:03pm
Quoting malcolmb14
trying a little sell at 1,4160 , stop just above my high of Friday , 1.4180

target for london test Thursdays lows 1.4070

25 pip to 90 pip reward

risk is .5% of account , reward = 1.8 % and no SKY I am NOT trading a mini account....

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malcomb - you should follow the herd - don't you know that retail traders are always right:
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  • #184,275
  • Jan 24, 2010 10:03pm Jan 24, 2010 10:03pm
Quoting mfoste1
true...however it will also stop newbies from even opening accounts....how would anyone trade with less than 5k in their account is this goes into effect? I dont believe their true intentions are to protect the retail trader, it just doesnt make any sense. If they follow on this, smaller traders will be taking larger risks due to risking more of their acct balance to pay for lots.

Personally I am a student and i trade for a living. Trading makes my life a whole lot easier considering I can make more in a few minutes trading than most people working...
5k you can still do damage with mini lots .

eu is 800 per mini lots leverage , so you can get 5 mini and have margin to spare. 100 pip on 5 mini is $500 loss and a large dent in the account.

even you can open and account with 2 k , play 1 mini , 100 pip is $100 , 5% loss on account.

I really think this new rule will actually make some better traders as instead of blowing up an account in 5 trades , they will have a chance to place a few trade and become better.

MY 2 cents.

The rules changed in Canada about a year ago ... did not make one bit of difference to me.
Blogging daily now at www.volume.zone
  • #184,276
  • Jan 24, 2010 10:03pm Jan 24, 2010 10:03pm
You can have 1-1 ratio, and still blow an account. I believe it matters more on how much risk you take per trade. ie how many lots per capital!
All that is left in FF is just plain garbage. "Cloggie"
  • #184,277
  • Jan 24, 2010 10:04pm Jan 24, 2010 10:04pm
Quoting malcolmb14
Hands up in here who has blwon an acocunt due to overleverage at 1:400 leverage.

Malc has his hands up and sheepish look on his face ... even though it was many moons ago
I respectfully submit to you that accounts are no blown due to over leverage, they are blown due to greed.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #184,278
  • Jan 24, 2010 10:05pm Jan 24, 2010 10:05pm
Quoting Duce
realjumper...yes, I was taking leverage into account. My retort to you is more to help newbie's see how leveraging is insane. MM has always been my credo. I tried to be witty and sarcastic at your expense. I apologize for that.
No worries
Doing what you like is Freedom. Liking what you do is Happiness.
  • #184,279
  • Jan 24, 2010 10:05pm Jan 24, 2010 10:05pm
http://www.forexfactory.com/attachme...1&d=1264392239

is gold begin to uptren for this week?
Attached Image (click to enlarge)
Click to Enlarge Name: 9.gif Size: 36 KB
  • #184,280
  • Jan 24, 2010 10:05pm Jan 24, 2010 10:05pm
Quoting anung
Any body buy gold here?
What do you think about gold, atm?

support 1080 , niuce rounded bottom 4 hour , resistance 1100. Above that take it up into 1120 , failed test of 1100 takes it back down into 1080.

as i said though the rounded bottom on 4 hour looks good
Blogging daily now at www.volume.zone
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