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10 to 1 leverage suggestion by the CFTC - a death to the US forex market?
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 09 2010 at 11:38
(zmieniany Feb 09 2010 at 11:41 )
W,
Ya. This would be gambling with style. However, most of my accounts are well into double figure growth per month. And I wasn't aiming for this. I was quite shocked when I saw it. It's less of a gamble than it looks. Got some serious MM stuff running on it. If it gets out of hand it will get slapped back into something sane. That rise there happened so fast that the MM didn't even activate. My orders got hit. They got protected and they TP'd. Money in bank. It was chugging along nicely before that event and is still chugging along nicely as you can see. But I think US brokers will disagree with you. For them the sky is falling. They banded together and they're taking legal action. For them it's game over. Chang beer is evil. |
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 09 2010 at 11:43
(zmieniany Feb 09 2010 at 11:46 )
I mean after this, what will the CFTC do next? No one is going to stick around to find out. It's a cluster fuck. I don't want to deal with US brokers anymore. No one does. They're unstable. IBFX can send me a mail in 5 minutes telling me the CFTC has decided we can only short the dollar on Wednesday. Why would I or anyone want to operate in that environment?
Chang beer is evil. |
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 09 2010 at 11:48
And people argue with me on this. But I am sure there are plans to move dollar trading away from the banks to the CME. And I think all of this is part of that.
Chang beer is evil. |
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Członek od Nov 14, 2009 9 postów
WOOOOOBIEWOTWOT (klaatu)
Feb 09 2010 at 12:02
(zmieniany Feb 09 2010 at 12:03 )
If your systems are so good how come they are private?
My knowledge on this subject is next to zero but the likely hood of them shutting down what is probably a billion dollar industry seems very unlikely to me. I think the US regulators have bigger fish to fry, so to speak. Also I have a thinkorswim account with access to FX futures. So I guess this means I'm doubly-not-worried. Perspective. expect nothing |
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 09 2010 at 12:15
(zmieniany Feb 09 2010 at 12:17 )
I prefer it that way. Not looking for business. The people that need links have them.
You're missing the point completely. Whatever the Us regulators aim is, they're harming US industry, US reputation and their are causing harm to individuals. You might not be worried. But a lot of other people are. My one Washington based buddy is livid. He has to go spend a few thousand dollars now to get his accounts in offshore companies, cause he can't get new accounts. And he won't accept the new terms. He doesn't have a small account. Few hundred thousand. Many, many traders feel that way... We tried to take a big client to a European bank last year. They wouldn't touch him. They're not interested. If that doesn't ring alarm bells for you nothing will. Chang beer is evil. |
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 09 2010 at 12:55
Can anyone guarantee me IBFX is going to be ok? Just safer to move my money. US retail forex is in deep shit mate...
Chang beer is evil. |
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 17 2010 at 11:36
(zmieniany Feb 17 2010 at 11:38 )
Errrrrr.....
Was speaking to someone way clever than me and much deeper into this than I am. If the CFTC ruling goes through, it will apply to liquidity providers, of which a significant part is US, even for European brokers. So if it goes, it's going through to everywhere. And it will go through. Maybe not at 10:1, but either way we're all in for major adjustments. Might just as well start trading options on fx. It's a cock up of note. Chang beer is evil. |
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Członek od Jan 14, 2010 554 postów
James_Bond
Feb 17 2010 at 11:55
Elkart posted:
Errrrrr..... Was speaking to someone way clever than me and much deeper into this than I am. If the CFTC ruling goes through, it will apply to liquidity providers, of which a significant part is US, even for European brokers. So if it goes, it's going through to everywhere. And it will go through. Maybe not at 10:1, but either way we're all in for major adjustments. Might just as well start trading options on fx. It's a cock up of note. Interesting of you to say that, as I've been wondering about it recently. But let's say it does affect the US liquidity providers - even if a Eurpoean broker works with them, can't they just keep the leverage 'in-house'? I mean how can a liquidty provider know if the trade was taken with leverage or not? |
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Członek od Aug 01, 2009 941 postów
Elkart (Elkart)
Feb 17 2010 at 12:13
ECN broker or not, that is the question.
In house the broker can do what he wants to, gets one successful trader client that brings him 100's of clients and he'll get traded into the ground. The ECN guy has to give it through to the market. Buggered either way. Chang beer is evil. |
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Członek od Jan 14, 2010 554 postów
James_Bond
Feb 17 2010 at 12:23
Ok, so it's actually a major issue
 I guess us little guys have no other option but wait for the verdict.. |
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