To use chat, please login.
Back to contacts

They Can See Your Margin!

Tony Gregg
Greggy
May 28 2015 at 08:04
158 posts
THEY CAN SEE YOUR MARGIN!

Just spoke to Trading Desk regarding a Long open position I have in GBPJPY because I felt I was close to being stopped out. I don't use a Stop Loss, basically because I don't trust them. I've learnt from experience that no sooner do you get stopped out and the trade starts to resume in the trend you traded at. I explained to the trader that I felt that once I was stopped out the price would start to resume in an upward trend. He informed me that he could see exactly how much margin I had which was approx. 45% and he explained that I wouldn't be stopped out until my margin reached 20%.

I then said that if he was able to see the exact margin I had left what was to stop them from stopping me out, not only that they could have a database of everybody within say 20% to 30% of their margin and then stop them out.

He tried to reassure me that 'My Word Is My Bond' , that it wouldn't be ethical and all that! Personally I think all that 'My Word Is My Bond' etc was left behind with the LIBOR and FX Rigging Scandals!

Any opinions?

Please login to comment .