Please give advice on multiple trades

Been away from Forex for a bit and it's been refreshing. I come back and discover this jewel of a thread :

http://www.forexfactory.com/showthread.php?t=245149

(hence forth described as the millipede method)

So I decided to stick my toe in the water. I reopened an account with FXCM Micro $500.00. I'm looking to test my entry methods using the millipede method. I know that I can't "hedge" the way he does and thats fine I can open two different accounts and do it that way.

However, I just discovered something else that is critical that i can't do. I can't place multiple trades in the same direction with different stops on the same pair.

This is of course because i'm in the US and with the new regulations coming out.

Is there any other US citizens that are trading the above method and can you tell me how youare doing it? With what broker?

Thanks,
Coastalfx

I never understood the use of the stupid FIFO rule. Just glad it never affected me. In fact the new legislation doesn't affect me either. My br0ker has always had 50:1 leverage and no hedging allowed.

I can place multiple trades in the same direction and put different stops on each one and close them in any order I want to.

Oh and Uh, well just say those three words fast and you will know my br0ker.

I'm not sure about FXCM but surely you can find a broker that allows you to place arbitrary stop orders. FIFO doesn't actually affect your bottom line. However, you may need to manage your trades separately to keep track of where stop losses should be and at what quantity.

Oanda. Problem solved.

hey costal....... ibfx has it setup where fifo rule has no impact..... the trade i say close is the trade that gets closed.....

it's like fifo does not exist.....h