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10 to 1 leverage suggestion by the CFTC - a death to the US forex market?
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Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 28 2010 at 14:30
I agree, retail forex is such a small portion of the equation. I don't know why they bother actually.

Chang beer is evil.
pc8multifx

Biedrs kopš Sep 04, 2009  861 ieraksti pc8multifx (pc8multifx) Jan 28 2010 at 14:32

michigansurveys posted:
    Everyone thinks that they get thousands of emails every day. Did you send one? Do you know anyone that has? They cannot get those thousands of emails if you do not send them. However naive an idea it may be, they are supposed to catalog and post each one here http://www.cftc.gov/lawandregulation/federalregister/federalregistercomments/2010/10-001.html Right now I only count 69 comments. If you really think it is a bad idea, take two minutes and send an email. It won't cost you anything to send it, but not sending in your comments may cost you a great deal more down the road.


I droped them a mail on January 17th, regards the leverage issue. Still not published..... I think the deal is already done!

Adios USA !cool

mettall

Biedrs kopš Nov 09, 2009  27 ieraksti mettall Jan 28 2010 at 20:28
naaaah...
OANDA are US broker. here is a part of my chat log with the support:

ME: are you gonna move all accounts to UK or somewhere else?
ME: you are US broker, right?
OANDA: We are US broker, and we don't have any plan yet on moving accounts to somwhere else.


They are not scared of CFTC...

Memento mori!
pc8multifx

Biedrs kopš Sep 04, 2009  861 ieraksti pc8multifx (pc8multifx) Jan 28 2010 at 20:35

mettall posted:
    naaaah...
OANDA are US broker. here is a part of my chat log with the support:

ME: are you gonna move all accounts to UK or somewhere else?
ME: you are US broker, right?
OANDA: We are US broker, and we don't have any plan yet on moving accounts to somwhere else.


They are not scared of CFTC...


They have no plan B ???eek

michigansurveys

Biedrs kopš Nov 22, 2009  31 ieraksti AussieTrader (michigansurveys) Jan 28 2010 at 23:51
I totally agree that all will move out of US brokers. I did when they started the FIFO rules. Idiots. What I am really fearful of is that they just wont stop protecting us small retail forex traders. You know, just like seat belts tobacco, etc... What I fear most is that they will somehow try to keep US traders from trading offshore. I don't know how they could do it, they cant stop online gambling now, but big brother is resourcefull and stupid enough to try.

Seek wisdom, aquire knowledge, find peace......
Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 29 2010 at 01:21 (labots Jan 29 2010 at 01:21 )
MS

Errr - tried to get an account recently? We can't take US clients as we can't find decent brokers that will take them. And then there's the bit that any broker who takes a US client must be CFTC registered.

This is the end forex trading for you I'm afraid, unless you're happy with 10:1.

Chang beer is evil.
PipCollector

Biedrs kopš Jan 05, 2010  92 ieraksti PipCollector Jan 29 2010 at 12:07

michigansurveys posted:
What I fear most is that they will somehow try to keep US traders from trading offshore. I don't know how they could do it, they cant stop online gambling now, but big brother is resourcefull and stupid enough to try.


They're actually already doing it, aren't they? There are a lot of brokers who do not accept US client, which I assume the NFA/CFTC are responsible for.

Patience is a virtue.
5abi

Biedrs kopš Dec 19, 2009  7 ieraksti 5abi (5abi) Feb 01 2010 at 02:19
this whole debate is kinda pointless. leverage is not crucial to success. if you cannot make money on 1:1, then you wont on 1:10 or 1:100.

Also it is proven statistically, that lower the leverage, higher your chance of surviving and flourishing in the long run.

pc8multifx

Biedrs kopš Sep 04, 2009  861 ieraksti pc8multifx (pc8multifx) Feb 01 2010 at 03:37

5abi posted:
    this whole debate is kinda pointless. leverage is not crucial to success. if you cannot make money on 1:1, then you wont on 1:10 or 1:100.

Also it is proven statistically, that lower the leverage, higher your chance of surviving and flourishing in the long run.



Show us this statistic !

5abi

Biedrs kopš Dec 19, 2009  7 ieraksti 5abi (5abi) Feb 01 2010 at 04:08
sorry I used the wrong word 'Proven' as I caanot proivde a scientific research.

I have been influenced by some very good traders that have stated this fact over and over again. Also, I have been trading for quite some time now and have not used a leverage higher than 1:5 or 1:6 tops- that has worked well for me. When I use higher leverage, my results are just no better. and have to work harder (and longer) to come out of the draw down.


pc8multifx posted:
    
5abi posted:
    this whole debate is kinda pointless. leverage is not crucial to success. if you cannot make money on 1:1, then you wont on 1:10 or 1:100.

Also it is proven statistically, that lower the leverage, higher your chance of surviving and flourishing in the long run.



Show us this statistic !

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