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  • #181
  • Jan 18, 2015 1:02pm Jan 18, 2015 1:02pm
Quoting ForexOracle
{quote} Ok and I will try a even more simplistic approach in order to make you understand. Leverage on forex was already reduced just a few years ago. Unless you live under a rock, you most know about rumors on the CFTC in talks to reduce leverage again. So... since the CFTC acted in the near past Since there are rumors of the CFTC acting again. Since we just saw an event which brought leverage to the spotlight again. You think I don't have the right to talk about it? Just because you " think" it will not happen? Give me a break pal !!! And if you...
Ok let me try even more simplistic approach to yours.. I live in Europe therefore CFTC laws do not apply to me or EU or anywhere else in the world wher FX brokers are regulated

It's the problems you Americans have with your "democracy" Last time I checked democracy means - people, not CFTC.. So if they reduce the leverage even more for you, I say you should boycott them all and withdraw your money from them and start some marketing campaign to demand your rights
  • #182
  • Jan 18, 2015 1:02pm Jan 18, 2015 1:02pm
The problem isn't the cftc. It's the rest of the world because the cftc only regulates trades made in the USA and by USA residents. The leverage is fine in the USA. It's the rest of the world. One of my brokers has 888:1. That stuff should come to a close.
  • #183
  • Jan 18, 2015 1:05pm Jan 18, 2015 1:05pm
It's not like your broker is holding a gun at your head and forcing you to use all 888x the leverage You do have brain..or not
  • #184
  • Jan 18, 2015 1:12pm Jan 18, 2015 1:12pm
Quoting Spudforex
{quote} wow you got hit bad .. sorry to hear. I just dont understand the price on the currency pair fell during trading hours. Are people not using stop losses then .. Surely a 50 pip stop loss would of saved alot of heartache for lots of people Or am i missing something here? Spud
i've purchased EUR/CHF 4 months ago at 1,2050 with stop-loss at 1,1950.. mr broker had 4 months to hedge against this SL..however on 15/1/15 SL was not triggered allthewat till 1,02...so instead of 1% loss I suffered much more...now i wait compensation from my broker...do you think i will get it?
  • #185
  • Jan 18, 2015 1:17pm Jan 18, 2015 1:17pm
Quoting stoplossmatt
{quote} i've purchased EUR/CHF 4 months ago at 1,2050 with stop-loss at 1,1950.. mr broker had 4 months to hedge against this SL..however on 15/1/15 SL was not triggered allthewat till 1,02...so instead of 1% loss I suffered much more...now i wait compensation from my broker...do you think i will get it?
The problem is that people still don't understand how brokers work.

They don't know how a SL, TP or MC works.

I have a long post 2 pages back about how FXCM got margin called where I explain in details.

Thursday for a few minutes there was no markets. Forex ceased for a few minutes, there was no quotes.

The first quote after that was thousands of pips below TP.
So, you think you have rights? LOL
  • #186
  • Jan 18, 2015 1:17pm Jan 18, 2015 1:17pm
Quoting bfis108137
The problem isn't the cftc. It's the rest of the world because the cftc only regulates trades made in the USA and by USA residents. The leverage is fine in the USA. It's the rest of the world. One of my brokers has 888:1. That stuff should come to a close.
Once again, I repeat:

 

  1. I trade with 500:1 leverage broker. People who do not know how to use leverage simply shouldn't trade. For those that do, the leverage restriction impeeds our ability to make money. I have a $10,000 forex account of which $9,000 is kept in my FDIC insured bank account. I open positions with about 7:1 and as trade goes in my favor, I scale in to the point where sometimes I am at 200:1 with stops at break even. This week I risked $20 on a euraud short and my profit on the trade was $844. Explain to me how I could do this with these regulations that are protecting us. First of all, I would have to put up 10 times the margin to execute the same size trade and I have to put that amount up with a broker who does absolutely nothing to protect my funds. Nobody stops anyone from walking into a casino and betting any amount they want, why are they so worried about what we risk on forex. Go police the casinos! If you want to help, make segregated accounts mandatory.
  2. You don't go all-in with high leverage, you scale in and adjust stops accordingly. the reality is, it's people who have no idea what they are doing that shines the spotlight on forex.

  • #187
  • Jan 18, 2015 1:19pm Jan 18, 2015 1:19pm
Quoting Spudforex
{quote} wow you got hit bad .. sorry to hear. I just dont understand the price on the currency pair fell during trading hours. Are people not using stop losses then .. Surely a 50 pip stop loss would of saved alot of heartache for lots of people Or am i missing something here? Spud

So a stop loss implies that when you buy Eur and sold Chf, in order to trigger that stop loss you need someone on the other end to buy your Eur and sell you the Chf. If there is nobody that can do that, you got nothing else to do than to hold your Euros until someone does. Because the drop was instantly from 1.2 to 1.0, there were no buyers along the way, so the broker could only "fill" your stop loss order at 1.0. Everybody had stops under 1.2, nobody had buys.

If I have mistaken with anything please excuse and correct me
  • #188
  • Jan 18, 2015 1:49pm Jan 18, 2015 1:49pm
Quoting spaceduck
{quote} Sad truth. They have probably bought again at around 0.9 from all these bankrupted 1.20 buyers :°D That's the game baby ahah
The rogues are buying again at 0.9 right, theyll be lucky to get a single buyer when next they intend to sell cause no one will ever be coming close to the CHF or any other pegged currency for a long time to come. banks included
  • #189
  • Jan 18, 2015 1:53pm Jan 18, 2015 1:53pm
Quoting ionutpopa
{quote} So a stop loss implies that when you buy Eur and sold Chf, in order to trigger that stop loss you need someone on the other end to buy your Eur and sell you the Chf. If there is nobody that can do that, you got nothing else to do than to hold your Euros until someone does. Because the drop was instantly from 1.2 to 1.0, there were no buyers along the way, so the broker could only "fill" your stop loss order at 1.0. Everybody had stops under 1.2, nobody had buys. If I have mistaken with anything please excuse and correct me
Thats correct but just for ECNs.

MM can close your position anytime because they usually are not exposed to the real market.

FXCM was in the final process of becoming a true ECN, thats why they got hit hard.
So, you think you have rights? LOL
  • #190
  • Jan 18, 2015 1:57pm Jan 18, 2015 1:57pm
Quoting ForexOracle
{quote} Thats correct but just for ECNs. MM can close your position anytime because they usually are not exposed to the real market. FXCM was in the final process of becoming a true ECN, thats why they got hit hard.

Oh, of course i was not talking about MM. That's why I am not moving from FXCM, if anything, they should be rewarded for being fair. It sucks that true ECNs got hit and those cheating bastards are laughing out loud now. Oh well...
  • #191
  • Jan 18, 2015 2:06pm Jan 18, 2015 2:06pm
Quoting stoplossmatt
{quote} what have changed is that SL order does not work anymore since it can rip of all your account in a blink of an eye, at any given time and at any position taken...swallow that while you are enjoying your sunday meal...Cheers and take care
I simply dont agree with you..

SL does work, it didnt work last day with the CHF pairs, but we saw the same during the flashcrash. Things like this happens something.

You can have a car with 15 airbags, and it will save your life when you crash, but when you crash at ultra high speed, there is no mercy.

btw, why is Forex Factory logo turned upside down?
MY SITTING, NEVER MY THINKING!
  • #192
  • Jan 18, 2015 2:31pm Jan 18, 2015 2:31pm
Quoting ionutpopa
{quote} Oh, of course i was not talking about MM. That's why I am not moving from FXCM, if anything, they should be rewarded for being fair. It sucks that true ECNs got hit and those cheating bastards are laughing out loud now. Oh well...
well i am actually FXCM client and still expecting their response on my complaint...i expect they compensate ...and proof they are the best and true marketmaker
  • #193
  • Jan 18, 2015 2:39pm Jan 18, 2015 2:39pm
Quoting stoplossmatt
{quote} well i am actually FXCM client and still expecting their response on my complaint...i expect they compensate ...and proof they are the best and true marketmaker

They are ECN, not marketmaker MM is bad for you!
  • #194
  • Jan 18, 2015 3:16pm Jan 18, 2015 3:16pm
ECNs are more neutral in terms of conflict of interest since technically they don't lose when you lose.

Thursday's event was a exception, but in regular circumstances they pocket their spreads and commissions and they are happy with it.

MM could be happy with their higher spreads, but since when you win the money comes out of their butt , they are always double crossing you.

I had to get out of oanda because their platform freezing and disconnections didn't let me trade anymore.

A few years ago when I was losing money consistently I don't remember having issues against them.
So, you think you have rights? LOL
  • #195
  • Jan 18, 2015 3:41pm Jan 18, 2015 3:41pm
Quoting merquise
It's not like your broker is holding a gun at your head and forcing you to use all 888x the leverage You do have brain..or not
I do not use the leverage and if it was just the trader's money then it would be fine but as we saw, the high leverage can have huge impacts. When that happens, I think it's time to look at this realistically and accept the fact that moves like this happen about once every 20 years but that in my eyes is enough to make things a little stricter.
  • #196
  • Jan 18, 2015 3:44pm Jan 18, 2015 3:44pm
Quoting Profit Daily
{quote} Once again, I repeat: I trade with 500:1 leverage broker. People who do not know how to use leverage simply shouldn't trade. For those that do, the leverage restriction impeeds our ability to make money. I have a $10,000 forex account of which $9,000 is kept in my FDIC insured bank account. I open positions with about 7:1 and as trade goes in my favor, I scale in to the point where sometimes I am at 200:1 with stops at break even. This week I risked $20 on a euraud short and my profit on the trade was $844. Explain to me how I could do this...
I don't think the issue is the traders. We are talking about what happens when a trader doesn't listen gets caught up in a move like this causing big losses for the brokers.
  • #197
  • Jan 18, 2015 3:45pm Jan 18, 2015 3:45pm
Quoting bfis108137
{quote} I do not use the leverage and if it was just the trader's money then it would be fine but as we saw, the high leverage can have huge impacts. When that happens, I think it's time to look at this realistically and accept the fact that moves like this happen about once every 20 years but that in my eyes is enough to make things a little stricter.
Stricter for who? Us, the traders. The lower the leverage, the more we need on deposit for margin. That means the lower the leverage, the MORE we have at risk. What aren't people understanding here? Only put with the broker what you need on your EXISTING trades, keep the rest in your bank where it is safe.
  • #198
  • Jan 18, 2015 3:46pm Jan 18, 2015 3:46pm
Quoting bfis108137
{quote} I do not use the leverage and if it was just the trader's money then it would be fine but as we saw, the high leverage can have huge impacts. When that happens, I think it's time to look at this realistically and accept the fact that moves like this happen about once every 20 years but that in my eyes is enough to make things a little stricter.
So you want to "strict" it with cash out a 100k if you wanna trade..would like to see who would be doing business with someone like that
  • #199
  • Jan 18, 2015 3:58pm Jan 18, 2015 3:58pm
Quoting bfis108137
{quote} I don't think the issue is the traders. We are talking about what happens when a trader doesn't listen gets caught up in a move like this causing big losses for the brokers.
If my broker goes bust, I find a new one. The higher the leverage allowed, the less of my forex funds I have to place with the broker for margin. I never have more than 30% of my forex account at risk at any time, which I repeat is becauseI keep those funds in my own bank because I trade with 500:1 brokers. For every trade you want to execute in the US requiring $1,000 with the broker for margin, I put up $100 with my broker, keep the other $900 in my bank.
  • #200
  • Jan 18, 2015 4:00pm Jan 18, 2015 4:00pm
Quoting Profit Daily
{quote} Once again, I repeat: I trade with 500:1 leverage broker. People who do not know how to use leverage simply shouldn't trade. For those that do, the leverage restriction impeeds our ability to make money. I have a $10,000 forex account of which $9,000 is kept in my FDIC insured bank account. I open positions with about 7:1 and as trade goes in my favor, I scale in to the point where sometimes I am at 200:1 with stops at break even. This week I risked $20 on a euraud short and my profit on the trade was $844. Explain to me how I could do this...
Profit Daily
There is no way to explain how you could do this with these regulations just as there is no way to explain how you are doing it without knowing which broker(s) and/or bank(s) you are using. As you know U.S. traders have been denied access to higher leverage we used to enjoy. The only way to do what you have described is by having access to brokers offering higher leverage. You've already implied you do not trade in the U.S. Have you emigrated?

Based on the claims in your posts, it "appears" you have achieved a work-around of the regulations imposed upon U.S. traders. Do you care to share which brokers and/or banks you have this arrangement with?

Thank you
Charts are limited in nature. What is the relative location?
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