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ESMA and its implication

voketexpert (voketexpert)
Sep 04 2018 at 11:26
25 posts
niceGLer posted:
I should have added something:
Maybe, just maybe, people have unrealistic expectations what is doable?

being long term trader is what it is my friend.

Pips are absolute aphrodisiac, so trade with your brain not your lust. Forex will always be the same.
togr (togr)
Sep 04 2018 at 12:38
4862 posts
voketexpert posted:
togr posted:
Let us stick to the topic!
So how did ESMA affect your trading?
I had for example move my stb account to different broker to keep it making profit
while Maxik account is doing well even on 1:30 leverage.


I am a small investor who is happy with present regulation. Don't understand why ESMA wants to change it. Proposals for new rules are more confusing, unfair and will not benefit anyone.

Exactly. There is the only winner - offshore brokers - whose can take our capital and disappear now.

togr (togr)
Sep 04 2018 at 12:39
4862 posts
niceGLer posted:
Please explain me why it is no longer possible to make big $ out of a small trading account. If the leverage is around 1:30, and the true leverage is, say, 10 and the risk per trade is 5%, it takes a couple of years to gain $20´000. Let´s imagine that in the beginning the monthly gain is 20% and in the end it will be 10%, which allows a modest standard of living even in Europe. One should deposit a couple of hundred of bucks, and know what one is doing. Of course things take time.. ESMA is a nuisance, but I don't see it as such a big obstacle UNLESS somebody explains me exactly why. Is that so heavily dependent on strategy used?


You have no idea what are you talking about.
20% a month for years with 1:30 leverage is pure nonsense.

emotionaltrader
Sep 04 2018 at 12:48
99 posts
All ESMA have done with the introduction of these leverage restrictions is create a two tier market with one set of regulations for one group and another set of regulations for the other. The market is more favourable towards the few rather than the many which basically means it's not a market at all!!!


emotionaltrader
Sep 04 2018 at 12:49
99 posts
niceGLer you're dreaming if you think that you can make a living from trading a few hundred quid on these leverages. Like I said you've got more chance of making money by switching off your computer and saving money on the electricity @ 0.20 -0.30 KWh!!!

emotionaltrader
Sep 04 2018 at 12:51
99 posts
emotionaltrader a moment ago
….furthermore the Daily Standing Charge for electricity is £1.80 - £2.90!!! Seriously, you'll make more money just by switching off your computer than you'll make trading £1000 at 1:30 Leverage. Better off investing in Penny Shares!!!

Oops - £100

emotionaltrader
Sep 04 2018 at 13:54
99 posts
Let's get this into perspective. Before the leverage changes I was capable of turning £100 into £400 in a day, I was capable of turning £100 into a £1000 in a week which I did on 4/5 occasions.

Now at 30:1 leverage I've got more chance of making money by turning of my computer and saving money on the electricity!!!

Electricity unit rate: 17.25p per kWh
Daily standing charge: 18.90p per day


Like I said: There's more excitement watching the grass grow outside my window or watching paint dry.

That's what ESMA have achieved One rule for the rich and another for everybody else!!!

emotionaltrader
Sep 04 2018 at 14:03
99 posts
Basically those at the top don't like the idea that small traders like myself are capable of turning £100 into something more substantial, they don't like the fact that small retail traders like myself could start out with £100 and make a living. That's why they've change the leverages, that's why they've introduced leverage restrictions because their JEALOUS!!!

Furthermore, they're worried that small retail traders like myself will make them the rich few look like a bunch of idiots!!!

….and that's the TRUTH!!!

emotionaltrader
Sep 05 2018 at 07:48
99 posts
Small retail traders have been made the scapegoats for the financial crisis of 2008. Instead of finding real solutions ESMA and other regulatory bodies have punished us.


Furthermore, these leverage restrictions are upside down, it is the wealthy who should be trading at lower leverages to create STABILITY in the financial markets.


….but then we've no need to worry because next time bankers can blame algorithms or sticky finger!!!

emotionaltrader
Sep 05 2018 at 07:48
99 posts
I don't care what anybody says, these leverage restrictions are blatant CLASS DISCRIMINATION!!!

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