2 pips? it is a bit extreme stop. I do have some trades with 6 pips stop but 2

I am currrntly -%2.98 this week 1 Hr manual trading due to early exit.

walker

you had 62 pips on day trading account and did not lock some profit? I would advice to take half position at 2:1 R:R and let the rest running and just keep locking profits.

http://www.forexpeacearmy.com/forex-forum/forex-articles/20937-nfa-slaps-alpari-us-200-000-a.html

The NFA is getting serious about limits in cancelling trades.

For Immediate Release
July 26, 2012
For more information contact:
Karen Wuertz (312) 781-1335, kwuertz@nfa.futures.org
Larry Dyekman (312) 781-1372, ldyekman@nfa.futures.org

NFA issues $200,000 fine against New York forex firm Alpari US LLC

July 26, Chicago - National Futures Association (NFA) has ordered Alpari US LLC, a futures commission merchant and forex dealer Member located in New York City, to pay a $200,000 fine as a result of an NFA Complaint filed in June 2012 and a settlement offer submitted by Alpari and two of the firm's principals, Jermaine C. Harmon and Richard A. Lani.

The Decision, issued by NFA's Business Conduct Committee, found Alpari violated several NFA requirements, including improperly cancelling forex trades and removing profits from customer accounts, failing to timely report trade data and other required information to NFA, failing to observe high standards of commercial honor, failing to comply with NFA's Enhanced Supervisory Requirements and failing to keep accurate records. The Decision also found that Alpari - together with Harmon and Lani - failed to supervise.

In addition to the $200,000 fine, Alpari is required to refund within 30 days to customers losses they incurred as a result of the price adjustments that Alpari made to their accounts in connection with an October 2011 'market event.' Alpari must also provide verification to NFA that these refunds were paid to and received by customers.

Alpari must also submit a written report to NFA within 180 days of the effective date of the Decision which documents the results of an independent review of Alpari's electronic trading platforms conducted by a qualified outside party and the steps Alpari has implemented to remedy deficiencies with the firm's internal controls.

Alpari, Harmon and Lani neither admitted nor denied the charges. The complete text of the Complaint and Decision are available on NFA's website.

I'd like to thank FPA reviewer Tangmase for bringing this to the attention of the FPA.

NFA Press Release on Alpari US action

FPA review page for Alpari-US.com

stevewalker posted:
MoM-1 is in action but no more trades this week so far. some loosers at the beggining of the week. overall still in good profit in 2 weeks time.

on the other hand, when coding MoM-1, new idea triggered in mind.
** the spike brokers. **
as you know some brokers create spikes and take their client SL and blow acounts. NOT FARE!!!!
how about if I can turn those spikes into money and transfer it to other broker as profit.
at the end I will get payed by other broker. so 'spike broker' can not balme or understand anything

walker




Steve, if one spike blows account it is not broker's problem. I tis trader's problem. should use less leverage.