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New Gold/Silver Trading Restrictions
Splexin

Member Since Apr 11, 2011  202 posts Splexin Jun 23 2011 at 20:35
I received the attached message via email from Oanda. This doesn't really affect me since I haven't traded gold/silver in over a year, but for many U.S. traders this is a disaster. Just thought I would share this here to give everyone a heads up, if they haven't gotten notifications already.
Attachments:

Dirk58

Member Since May 16, 2010  7 posts Dirk Schaefer (Dirk58) Jun 23 2011 at 20:56
They treat you guys like you are little kids not knowin what you do and what risk is involved. Bad thing, what comes next?

Forex is the hardest way of makin easy money
Splexin

Member Since Apr 11, 2011  202 posts Splexin Jun 23 2011 at 21:05
It's like a new restriction every month-- the FIFO rule went into effect in May.

They claim it's to make trading 'safer,' protect traders and economic interests, but we all know somebody up top just wants to make more money. I have yet to see some regulation that actually benefited my trading.

joeblow

Member Since Jul 31, 2009  71 posts joeblow Jun 24 2011 at 09:00
perhaps the united states is going belly up and our credit lines are in the process of being cancelled?

just a thought.

zero/.

zzzero

Member Since Jan 26, 2011  1367 posts zzzero Jun 24 2011 at 18:15
greetings,

i was trading various gold pairs, all was going well, i was getting 100:1 leverage on the gold pairs, which basically means that i had a bigger credit line to trade with, but after reading this nonsense about gold going to 1:1 i just went ahead and switched tracks and have begun trading pure currency, it is really not that different anyways..

since the begiinning of this month, i was at balance of $660 at one point, but now i sit on an equity of $1124.

my trading bot is based on two physics theories and a strange math quirk.

work hard and never look back, that is what i say.

i am building that which will serve as the foundation of a trading empire.

my trading team will be, for all practical purposes, a think tank.

for the record, i am a clinically diagnosed sociopathic genius.

fyi, not all sociopaths are serial killers, lol..

happy trading,

zero/.



n/a
cunod

Member Since Apr 15, 2011  97 posts cunod Jul 12 2011 at 11:02 (edited Jul 12 2011 at 11:10 )
Well that's wonderful. I did not get an email on this with trading point but I am sure I'll get nailed there as well. I love it! Forex will be dead in the US eventually with everything going into effect. I understand the reasoning for it but its overdone to the point of 'I want to scoop my eyes out with a fork. Best thing to do is run for the hills and find a broker that accepts US clients without the the jurisdictional bull, but also be a reputable broker.


PS: Found something about oil in trading point mt4. Just glancing over it looks like Oil is restricted to a month to month thing now. Ill look at it a bit more in depth later.

tigpips

Member Since Jun 09, 2011  182 posts tigpips Jul 15 2011 at 03:47
oh boy...

myfxpt

Member Since Aug 06, 2011  299 posts Gary Sharp (myfxpt) Sep 06 2011 at 00:33
How dumb am I? I thought speculation was about transferring risk!

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