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Could 10:1 be the new leverage in US Forex?

  • #441
  • Feb 1, 2010 7:33am Feb 1, 2010 7:33am
Quoting CurrencyAnalyst
Jade gate ( quote) :
Every trader has to determine their own level of comfort with risk (and hopefully keep all in good balance). Forex isn't for the feint-hearted. knowledge deficient or risk averse (in which case, commodities are a fine choice).

We have a Genious here folks!...
Pretty brash for someone with 0 credibility on this board
  • #442
  • Feb 1, 2010 7:49am Feb 1, 2010 7:49am
People, success in trading has nothing to do with Margin or Leverage it has to do with having a successful trading method, if you don't have one then it doesn't matter what the Margin or Leverage is here in America or overseas.
  • #443
  • Edited 8:58am Feb 1, 2010 8:04am | Edited 8:58am
Quoting endroute
Pretty brash for someone with 0 credibility on this board
So true, I have him on ignore because of that, but when people quote the emperor with no clothes, I see he is back with self-aggrandizing off-topic posts about his illusory futures trading prowess.http://cdn.forexfactory.com/images/s..._the_floor.gifhttp://cdn.forexfactory.com/images/s..._the_floor.gifhttp://cdn.forexfactory.com/images/s..._the_floor.gif
  • #444
  • Feb 1, 2010 8:28am Feb 1, 2010 8:28am
Quoting angus
What do you mean by "0 credibility"?
Oh I'm sorry I dont have any credibility points here at this gossip column, kinda like when you get a happy ebay customer response. I keep all that credibility with Government Certifications.

Just got to love all the pick and play journalism here.

At least I'm still working between cracks here, GCJ0 picked up just under $500 dollars in 8 minutes exposure.

I hope you guys are making money too.
"Look Left Think Right"
  • #445
  • Feb 1, 2010 8:44am Feb 1, 2010 8:44am
Another $300 GCJ0 short, I'm done for the day.
Catch you spotters later.
And Thanks to all of you that sent private messages considering alternatives. I will respond to each of you according to individual needs.

Peace out.
"Look Left Think Right"
  • #446
  • Feb 1, 2010 9:46am Feb 1, 2010 9:46am
Quoting Jaimie
People, success in trading has nothing to do with Margin or Leverage it has to do with having a successful trading method, if you don't have one then it doesn't matter what the Margin or Leverage is here in America or overseas.
What's your point? Everybody already knows that.
  • #447
  • Feb 1, 2010 10:53am Feb 1, 2010 10:53am
Quoting CurrencyAnalyst
Another $300 GCJ0 short, I'm done for the day.
Catch you spotters later.
And Thanks to all of you that sent private messages considering alternatives. I will respond to each of you according to individual needs.

Peace out.
I love the line about people sending you messages to you and you coming to save the day and help the downtroden folk who have no place to turn but to you. Why do you feel the need to posture and post what you made in a trade, frankly it makes you look like a poser? Do you actually think anyone will believe you, Oh sure some noobs might see that and think you are some godlike trader but we all can pr pretty much see through that. BTW just because you passed a couple of exams does not make you a better trader than the rest of us, it just means you took a test.

Alternatives to US Based Spot Forex in no particular order:

1. a foreign account
2. currency futures and options - though these suck because there is not nearly as much liquidity as in spot
3. trading the s/p emini futures (actually a good option)
4. commodities (specifically oil)
  • #448
  • Feb 1, 2010 11:46am Feb 1, 2010 11:46am
Quoting angus
BTW, just because you have 10 v's does not mean you have any more credibility...
Are you for real maybe you should actually read my post, I was asking your friend why he feels the need to flaunt his skill. I am flaunting nothing, last I checked I was not the one posting what a fantastic trader I am but you amigo is doing just that.
  • #449
  • Feb 1, 2010 12:06pm Feb 1, 2010 12:06pm
Quoting angus
I am?? I suppose there's no point in debating if you just don't get it.
wow one little typo, it should have read your amigo (CurrencyAnalyst)
  • #450
  • Feb 1, 2010 12:09pm Feb 1, 2010 12:09pm
Quoting angus
BTW how did you come to this conclusion?
Lets see I have never read a post from him that was useful, nice, or even helpful only posts where he claims to know it all and every else is just a bunch of dolts. Why the interest, I am beginning to think you and he are the same person?
  • #451
  • Feb 1, 2010 1:35pm Feb 1, 2010 1:35pm
Finally, the CFCT started posting comments again..
http://www.cftc.gov/lawandregulation...10/10-001.html
  • #452
  • Feb 1, 2010 2:29pm Feb 1, 2010 2:29pm
[email protected] responded that they are regulated as a bank, so the 10% margin requirement would not apply to them if it goes through. Thoughts?
Hindsight is 20/20
  • #453
  • Feb 1, 2010 3:28pm Feb 1, 2010 3:28pm
Quoting cosgrove
[email protected] responded that they are regulated as a bank, so the 10% margin requirement would not apply to them if it goes through. Thoughts?
Well if you read page 7 of the application, the nice folks at Citi state that they are a counterparty in all transactions, so if Obama has his way they will not be able to do proprietory trading if they are a
bank.
http://www.citifxpro.com/SiteCollect...ed_Traders.pdf

PS. They take your money in excesive credit card interest, they take your money in TARP funds, and now they want to take your money trading against you. What a Country.
  • #454
  • Feb 1, 2010 4:39pm Feb 1, 2010 4:39pm
Quoting endroute
Lets see I have never read a post from him that was useful, nice, or even helpful only posts where he claims to know it all and every else is just a bunch of dolts. Why the interest, I am beginning to think you and he are the same person?

Hey Gossip Punk, Plenty of Traders here have benefited over the past few years. I only bash you Quick to condem monkeys here.

To the one's that want something useful I give the time and effort off forum. I just love you loud mouths that show a thousand plus posts here being most of them Jerry Springer one liner bashing complaints. the majority of my posts are credible. 10:1 Says you ballers/complainers are all fakin the Jig!

I voted Against the 10:1 For the little Guys here, However if government prevails I will have at least informend open minded self preserving traders with currency like tradeables via private messages void of your silly prying eyes, where they could clearly absorb something of value.

Me personally the last Spot Broker I traded with and Still to this day would if I chose to revert spotward was/is Oanda. And hey man they only offer max leverage of 50:1 and tell traders that 10: to 25:1 is Proper & acceptable. We know they will still be in business when IBFX and FXCM US Fold. Who in their right mind would want to do business with a broker overseas with a market like spot, Insane and Bullish Stupidity.

So piss and moan all you want "hecklers" I still get requests for alternative tradeable information. Looks like the trend is building!
"Look Left Think Right"
  • #455
  • Feb 1, 2010 5:01pm Feb 1, 2010 5:01pm
Quoting CurrencyAnalyst
So piss and moan all you want "hecklers" I still get requests for alternative tradeable information. Looks like the trend is building.
ah yes more unabashed self promotion, what are you compensating for?
  • #456
  • Feb 1, 2010 5:57pm Feb 1, 2010 5:57pm
Quoting endroute
ah yes more unabashed self promotion, what are you compensating for?

As they say in Texas,

"Bigger the belt-buckle, littler the peter."
"If The Fool persists in his Folly he will become wise." - William Blake
  • #457
  • Feb 1, 2010 6:01pm Feb 1, 2010 6:01pm
Quoting The Fool
As they say in Texas,

"Bigger the belt-buckle, littler the peter."
or as they say "Big Hat No Cattle"
  • #458
  • Feb 1, 2010 6:04pm Feb 1, 2010 6:04pm
Ok So I took the thread slightly off topic and I do apologize for doing so, as the topic at hand is very important, but I really hate it when some blow hard comes in and starts putting others down while bragging about how good they are.

Back to the topic at hand.
  • #459
  • Feb 1, 2010 6:13pm Feb 1, 2010 6:13pm
Quoting endroute
Ok So I took the thread slightly off topic and I do apologize for doing so, as the topic at hand is very important, but I really hate it when some blow hard comes in and starts putting others down while bragging about how good they are.

Back to the topic at hand.
Yes, back to the topic....Citi says they are exempt b/c they are a bank...but what Jason posted from the CFTC website says " and to certain leveraged or margined contracts in foreign currency that are offered to or entered into with retail customers."
So question, is there an exception for banks?
Even if there is, how is Citi going to be a "counterparty on all trades" if banks will not be able to do proprietory trading?
If they spin off the forex side as to not be a bank, then why should they be exempt from the CFTC?
  • #460
  • Feb 1, 2010 6:24pm Feb 1, 2010 6:24pm
Quoting wwwin
Yes, back to the topic....Citi says they are exempt b/c they are a bank...but what Jason posted from the CFTC website says " and to certain leveraged or margined contracts in foreign currency that are offered to or entered into with retail customers."
So question, is there an exception for banks?
Even if there is, how is Citi going to be a "counterparty on all trades" if banks will not be able to do proprietory trading?
If they spin off the forex side as to not be a bank, then why should they be exempt from the CFTC?
I guess the question is do they fall under cftc jursidiction, and in looking on the nfa website and searching for citibankd and citifx etc it shows them either as exempt commodity pool operators or with no current status, so I would assume not. According to the nfa basic search page a search would turn up cftc registration as well as nfa registration.

http://www.nfa.futures.org/basicnet/...firm&firm=CITI
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