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Forex changed forever!

  • #21
  • Jan 16, 2015 10:29am Jan 16, 2015 10:29am
Just in case they change their headlines later. let me register it here.

The link is on my last post.
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  • #22
  • Jan 16, 2015 11:08am Jan 16, 2015 11:08am
Quoting endroute
{quote} gspajon, what futures broker are you using. I am thinking about moving to futures but have not really looked at it much. HOw is the price action/movement compared to spot forex?
I researched it for about three months. I called several brokers and spoke with each one and decided on tradestation. They are certainly not the least expensive but, for me, I felt they offered the best value. The software alone is incalculable. It required me to go back to the "lab" to adjust my trading to intraday but on a day like yesterday it was well worth the effort. I just called tradestation and thier fx component is fine and they are trading as usual. I am trading futures now so this market has regulations and "circuit breaker" just in case things get out of hand.
  • #23
  • Jan 16, 2015 11:08am Jan 16, 2015 11:08am
I wonder if Draghi will delay actions the ECB would take. They may change the strategy all together.

They want the euro to devalue but in a orderly way.

If things go out of hand with the currency the whole EU project can come crashing down.

We are living in very interesting times !!
So, you think you have rights? LOL
  • #24
  • Jan 16, 2015 11:50am Jan 16, 2015 11:50am
Quoting ForexOracle
Global Brokers NZ Ltd was the first causality reported by Bloomberg yesterday night. ALPARI UK according to CNBC is insolvent. FXCM shares dropped from 17$ to little over 1 dollar this morning. Their shares are currently not trading and it seems they need 230 million to keep going. Checking around forums I can see people withdrawing ( or trying to) money. Which looks like a "run on the broker" in process. It will be very interesting to see what kind of new regulations will emerge and how traders and brokers will adapt to it.
Before I comment, you DO sound quite like Chicken Little -- The Death of Retail Forex? Adapt or Die -- what is that, on your state flag? Why don't YOU tell us plain-folk what is likely to happen now that a central bank chose to break the rules and knock the hell out of some very large funds, and as a by-product a few unprotected firms? Before you get too far into it, remember the oldest adage in just about any investigation: Follow the Money
  • #25
  • Jan 16, 2015 12:08pm Jan 16, 2015 12:08pm
Quoting HoerterFX
{quote} Before I comment, you DO sound quite like Chicken Little -- The Death of Retail Forex? Adapt or Die -- what is that, on your state flag? Why don't YOU tell us plain-folk what is likely to happen now that a central bank chose to break the rules and knock the hell out of some very large funds, and as a by-product a few unprotected firms? Before you get too far into it, remember the oldest adage in just about any investigation: Follow the Money
I'm trying to forecast not to predict.

I don't think people grasped (yet) the magnitude of yesterdays events.

Retail forex will change in such a way and people like you I think are not seeing it or plain sticking their heads in the sand.

If you don't agree with what I'm posting here. Instead of silly posts you can go and post on another thread.

What about that?
So, you think you have rights? LOL
  • #26
  • Jan 16, 2015 12:20pm Jan 16, 2015 12:20pm
I already knew this was coming... aslong as there are central authorities making large rash decisions like this.. the system will never work and keep breaking.. this is why im accumulating bitcoin

On top just like SNB guys wife made money putting the peg in, I bet him and his friends/family made money on the way down.
  • #27
  • Jan 16, 2015 12:39pm Jan 16, 2015 12:39pm
Quoting sidhujag
I already knew this was coming... aslong as there are central authorities making large rash decisions like this.. the system will never work and keep breaking.. this is why im accumulating bitcoin On top just like SNB guys wife made money putting the peg in, I bet him and his friends/family made money on the way down.
I'm trying to forecast is what the future will be for me as a retail trader.

It took me a while to be where I'm now and I would like to just keep doing what I'm doing.

How brokers will adapt to the new reality?

And even more important. As the lawsuits pile up, how regulators will legislate.

Leverage will DEFINITELY go down.

It may go to 1:1 who knows.

They may come up with a law that unless you have a 500K account you can't trade Forex.
So, you think you have rights? LOL
  • #28
  • Jan 16, 2015 12:42pm Jan 16, 2015 12:42pm
Folks,

The questions should be asked:

1. Wht did the other brokers do right, why they are able to continue operations ?
2. Wht did FXCM do wrong why they cannot continue based on regulations etc. ? Heads may roll at FXCM when dust settles.
3. Did the current regulations work for the brokers tht are surviving ? If yes maybe no more regulations are required.

Think abt the above. I feel FXCM did not do something correctly, possible a technology solution. I cannot understand why so many other brokers are ok. I am a FXCM customer and I really hope the problem is solved for the survival of the company.
  • #29
  • Jan 16, 2015 12:46pm Jan 16, 2015 12:46pm
what i don't get is why should the good regulated brokers fall in trouble or why the regulations/rules to be changed/made after such a situation where all of them should be well aware of the fact that a central bank can possibly announce anything anytime?? and regarding eur/chf... when you wear a crap cap, you and all others watching you should know that you'll have to put it off today or tomorrow??

Oracle, I humbly request you to pray for those lost and for the continuation of the market as before instead of making fun of it.

Thanx !
Success - It's not always what you see
  • #30
  • Jan 16, 2015 12:52pm Jan 16, 2015 12:52pm
Quoting fxworldwide
Folks, The questions should be asked: 1. Wht did the other brokers do right, why they are able to continue operations ? 2. Wht did FXCM do wrong why they cannot continue based on regulations etc. ? Heads may roll at FXCM when dust settles. 3. Did the current regulations work for the brokers tht are surviving ? If yes maybe no more regulations are required. Think abt the above. I feel FXCM did not do something correctly, possible a technology solution. I cannot understand why so many other brokers are ok. I am a FXCM customer and I really hope the...
brokers that are ok are the Market Makers.

A MM offsets trades internally.

They only go to LP in rare cases when the majority of their clients pile on the right side of the market.

When you are margin called the MM wins the account you lost.

They made a killing yesterday!!

FXCMs risk management failed. Thats a fact.

But who could foresee a 4000 plus pip drop in less than 5 min?
So, you think you have rights? LOL
  • #31
  • Jan 16, 2015 12:55pm Jan 16, 2015 12:55pm
Quoting SakibFX
what i don't get is why should the good regulated brokers fall in trouble or why the regulations/rules to be changed/made after such a situation where all of them should be well aware of the fact that a central bank can possibly announce anything anytime?? and regarding eur/chf... when you wear a crap cap, you and all others watching you should know that you'll have to put it off today or tomorrow?? Oracle, I humbly request you to pray for those lost and for the continuation of the market as before instead of making fun of it. Thanx !
Ok funny boy!!

I will pray you don't come here bashing regulators when you get cot with your pants down unable to trade.

Assuming you trade at all
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  • #32
  • Jan 16, 2015 1:04pm Jan 16, 2015 1:04pm

People are very gullible and naive


Is this the first time such catastrophe occurred? >>>>> NO.


It is a publicity stunt that "poor us brokers, we lost $millions".... I wonder how much they paid the representative to deliver such a negative picture?


*****People might not know it. When price moves by huge numbers in minutes, their computer halts everything/all trading. (This is a big secret they don't tell you).*****


Now this is a big magician trick.

You make people look at one hand (Poor us brokers, we lost money)..... and on the other hand (somebody pocketed huge gains that we don't want people to know).


RUBBISH.... STINKING RUBBISH.

  • #33
  • Jan 16, 2015 1:06pm Jan 16, 2015 1:06pm
Bloomberg terminal chats are not a reliable source of news but..... the gossip is that FXCM will be rescued over the weekend.

The source is murky but the gossip is real.

Time will tell!
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  • #34
  • Jan 16, 2015 1:07pm Jan 16, 2015 1:07pm
Nothings gonna change. Same happened with flash crash. Did regulators do something meaningful later? No.

We have here couple weird brokerages getting popped and will regulators do something about that? No.

Just put aside the dead ones and move along
  • #35
  • Jan 16, 2015 1:10pm Jan 16, 2015 1:10pm
Quoting Tingus
Nothings gonna change. Same happened with flash crash. Did regulators do something meaningful later? No. We have here couple weird brokerages getting popped and will regulators do something about that? No. Just move aside the dead ones and keep moving forward
I hope you are right.

Their problem seem to be with FX spot.

They already poked retail traders with the last round of regulations. FIFO, lower leverage etc

The rumors about leverage decrease and margin increase are circulating forums.

Lets hope for the best!
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  • #36
  • Jan 16, 2015 1:14pm Jan 16, 2015 1:14pm
Nothing will be changed !

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  • #37
  • Jan 16, 2015 1:17pm Jan 16, 2015 1:17pm
Quoting ForexOracle
{quote} Ok funny boy!! I will pray you don't come here bashing regulators when you get cot with your pants down unable to trade. Assuming you trade at all
PLz don't tell me you're the only trader in this whole wide world.. I wouldn't have been able to comment in this thread if I didn't trade at all in the first place. Thanx to God I didn't have any open positions for the last few days.

Hope you get your $ back from fxcm and others ! I really pray nothing changes.
Success - It's not always what you see
  • #38
  • Jan 16, 2015 1:21pm Jan 16, 2015 1:21pm
Leverage might change but that's about it and maybe higher capital requirements ($20,000 and up for example). Retail spot FX trading will not go away. In the worst case scenario I'll go back to trading stocks.
  • #39
  • Jan 16, 2015 1:27pm Jan 16, 2015 1:27pm
Quoting EnoFX
Leverage might change but that's about it and maybe higher capital requirements ($20,000 and up for example). Retail spot FX trading will not go away.
We may see 3 pip spread as the lowest on EUR/USD due to broker ownership repositioning.
So, you think you have rights? LOL
  • #40
  • Jan 16, 2015 1:42pm Jan 16, 2015 1:42pm
Oracle,

No, fx hasn't changed forever. No, there will be NO regulation changes (in fact the GOP-led Congress is going to overturn Dodd-Frank). No, it's not that big a deal.
Turn on the news, they're talking about Belgium,France, Obama, Miley Cyrus..... what I haven't heard on CNN, MSNBC, or even FauxNews , is SNB. Nobody outside of forex cares.
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