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10 to 1 leverage suggestion by the CFTC - a death to the US forex market?
Iepriekšējās 1 2 3 4 5 .. 8 Nākamais
bizWiz

Biedrs kopš Aug 06, 2009  397 ieraksti bizWiz Jan 24 2010 at 21:28
dennerle, that's some good info - thanks.

Pietpatat - if that will be the case, then I guess that usa based traders are out of luck.. maybe it's time to apply for a new citizenship? smiley

Sleep is for the weak.
Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 25 2010 at 00:46 (labots Jan 25 2010 at 00:55 )
lol...

Biz, they can't. The most basic freedom of them all is denied US citizens. Unless the US government agrees US citizens can't give up their citizenship. Only country in the world where you can't.

Best way forward for them is offshore companies or trust funds in offshore jurisdictions. Expensive. Bout $5000 US a pop.

Getting very difficult for them and these new rules will close retail fx to them. They'll have to start trading options on fx on the CME which is off course the goal here.

US is closing the retail fx industry. No doubt about it. Whatever their stated goals are.

Considering the amount of time, effort and money it takes to learn to do this, if I was a US citizen I'd sue the CFTC for taking away my ability to earn a living and future income. 20 years of compound growth!

Chang beer is evil.
PipCollector

Biedrs kopš Jan 05, 2010  92 ieraksti PipCollector Jan 25 2010 at 11:18

Elkart posted:
Considering the amount of time, effort and money it takes to learn to do this, if I was a US citizen I'd sue the CFTC for taking away my ability to earn a living and future income. 20 years of compound growth!


Under the circumstances, some will probably will.

I wonder if other countries will follow? After all, the entire world's economy was affected last year, and limiting your exposure to the markets is actually a good idea to minimize risk (Yeah, I know it's basic money management smiley).

Patience is a virtue.
Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 25 2010 at 11:47
Just have to stay a step ahead mate. Fly like a butterfly, sting like a bee...!!

Chang beer is evil.
mettall

Biedrs kopš Nov 09, 2009  27 ieraksti mettall Jan 25 2010 at 14:36
so better we don't open Oanda accounts? damn. there is no other broker with such good web terminal.

Memento mori!
Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 25 2010 at 14:49 (labots Jan 25 2010 at 14:50 )
They're Canadian...

I struggle to tell the difference as well, they all look the same to me! But ask any Canadian and they'll correct you quite passionately...

Chang beer is evil.
bizWiz

Biedrs kopš Aug 06, 2009  397 ieraksti bizWiz Jan 25 2010 at 15:17 (labots Jan 25 2010 at 15:17 )
Elkart posted:
    They're Canadian...

I struggle to tell the difference as well, they all look the same to me! But ask any Canadian and they'll correct you quite passionately...


really? i was under the impression they're US based.

Sleep is for the weak.
Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 25 2010 at 15:35
Chang beer is evil.
mettall

Biedrs kopš Nov 09, 2009  27 ieraksti mettall Jan 26 2010 at 09:35
aah, thanks :)

By decreasing the leverage the USD should become less volatile. This is good because then the USD will be much more stable. What do you prefer - to have non-volatile or volatile world currency? Obama is trying to save the status of USD like world currency...

Memento mori!
PipCollector

Biedrs kopš Jan 05, 2010  92 ieraksti PipCollector Jan 26 2010 at 15:46
I'm sure some like the volatility - you can't increase the reward without increasing the risk.

Patience is a virtue.
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