Posts by TorinoFX

All HotForex accounts have been shut down ahead of the 5 June deadline to US customers. FinFX it is!

Tonight, 23 April I decided to exit all AUDNZD trades bogging down the margin. To anyone tracking my accounts, this may have seemed as not so much of a burden, but with EURCHF already stuck at multilevels, I could not let AUDNZD keep going up indefinitely while a negative swap rate is being charge nightly. In other words, cutting at a loss of $250 today is better than being charged just that every night for holding these positions while there is no trading on an account...simple I think. Also, EURCHF...while it earning positive swap, it is very stagnant. And although I see little danger holding these positions..in fact, they have huge potential...holding these positions means a lower earning per month. Because margin is already being eaten by EURCHF postions, the only way to play it safe with a cushion is to trade lower lots on all other pairs, meaning a lower earning per month...so...I'm hoping for the SNB to raise the floor to 1.25 soon or well...enough said.

Today I decided to cut losses in the GBPUSD positions that had been open since January, after the GBP had a straight run of 11 consecutive days of gains without real retracements. This caused losses in 3 of my PAMMs, losses that although will be more than made up in the future they are nonetheless painful to see. I take them very seriously. If anything, this underlines that Forex investments carry a risk. To current and future TorinoFX investors: I offer no guarantees. In fact, I expect you to be ready for a 100% loss. If safety is what you seek, I suggest you put your money under a mattress. I will not guarantee a certain maximum drawdown nor a possible gain. Having said this, I work hard to earn you a penny, and I will strive to manage risk the best I know how. To all who have trust in me, I thank you for your support! Gerald