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DealCancellation by easyMarkets

slahov
Oct 11 2016 at 18:40
posts 7
Hi everyone,

Does anybody have real expirience with using this new tool for cancelling new deals?

Regards
vontogr (togr)
Oct 12 2016 at 06:59
posts 4862
I have just discovered and tested quite unique feature.

As far as I know there is only one broker with such offer.

It is very simple, you open a trade and if turns against market you can close it WITHOUT loss.

It works like insurance. You pay small fee to secure yourself in case of disaster.

If you are interested find out more. https://record.partners.easymarkets.com/_D0mElSY_ZrRi-DaPcIu1xGNd7ZgqdRLk/1/

slahov
Oct 13 2016 at 11:29
posts 7
So if I understand it correctly, I can open a long and short position at the same time, leverage it up by 100 times and once the fx spot changes by 50 pips I close both positions (within 1 hour ofcourse). With this I gain a 100% guarantee profit, if the cancellation fee is lower than the realized profit of the winning trade.

If this is true, than why is this trading suggested primarily for new fx traders? I mean, this way you can not loose. Where is the catch? Is the insurance fee then higher than the winning trade?

Tnx
leo23
Oct 13 2016 at 12:58
posts 567
slahov posted:
So if I understand it correctly, I can open a long and short position at the same time, leverage it up by 100 times and once the fx spot changes by 50 pips I close both positions (within 1 hour ofcourse). With this I gain a 100% guarantee profit, if the cancellation fee is lower than the realized profit of the winning trade.

If this is true, than why is this trading suggested primarily for new fx traders? I mean, this way you can not loose. Where is the catch? Is the insurance fee then higher than the winning trade?

Tnx
it might be just a new marketing trick from the broker to just get attention from a lot of trader to join them and after that they will change their terms for deal cancellation or simply will increase the fees to very high so that it will be useless to use that feature
Artificial General Intelligence
lexy1022
Oct 13 2016 at 13:41
posts 13
slahov posted:
So if I understand it correctly, I can open a long and short position at the same time, leverage it up by 100 times and once the fx spot changes by 50 pips I close both positions (within 1 hour ofcourse). With this I gain a 100% guarantee profit, if the cancellation fee is lower than the realized profit of the winning trade.

If this is true, than why is this trading suggested primarily for new fx traders? I mean, this way you can not loose. Where is the catch? Is the insurance fee then higher than the winning trade?

Tnx

You cannot hedge the 'same' currency pair and use this feature at the same time, that is the catch.
slahov
Oct 13 2016 at 14:50
posts 7
I did not see that written anywhere. Maybe in small print :).

What about opening both positions like long USD/JPY and EUR/USD, before the NFP report? Is that allowed?
vontogr (togr)
Oct 13 2016 at 17:02
posts 4862
slahov posted:
So if I understand it correctly, I can open a long and short position at the same time, leverage it up by 100 times and once the fx spot changes by 50 pips I close both positions (within 1 hour ofcourse). With this I gain a 100% guarantee profit, if the cancellation fee is lower than the realized profit of the winning trade.

If this is true, than why is this trading suggested primarily for new fx traders? I mean, this way you can not loose. Where is the catch? Is the insurance fee then higher than the winning trade?

Tnx

It depends how much the market moves.
vontogr (togr)
Oct 13 2016 at 17:03
posts 4862
slahov posted:
I did not see that written anywhere. Maybe in small print :).

What about opening both positions like long USD/JPY and EUR/USD, before the NFP report? Is that allowed?

Guys why dont you test it.

Open account https://record.partners.easymarkets.com/_D0mElSY_ZrRi-DaPcIu1xGNd7ZgqdRLk/1/
Deposit like $50 and play.
vontogr (togr)
Oct 13 2016 at 17:18
posts 4862
lexy1022 posted:
slahov posted:
So if I understand it correctly, I can open a long and short position at the same time, leverage it up by 100 times and once the fx spot changes by 50 pips I close both positions (within 1 hour ofcourse). With this I gain a 100% guarantee profit, if the cancellation fee is lower than the realized profit of the winning trade.

If this is true, than why is this trading suggested primarily for new fx traders? I mean, this way you can not loose. Where is the catch? Is the insurance fee then higher than the winning trade?

Tnx

You cannot hedge the 'same' currency pair and use this feature at the same time, that is the catch.

You can. I did just try it.

Fee was $3.5 for 5000 EURUSD (one fee for long one for short)
stian
Oct 13 2016 at 19:29
posts 325
Hmm, that is very interesting. Might give it a go with 1000$ for the next NFP. Fee doesn't seem to high either and might even work for less impact news.
Tombuontien
Oct 14 2016 at 02:43
posts 26
leo23
Oct 14 2016 at 06:24
posts 567
This deal cancellation feature actually looks very attractive on the surface the way it has been presented on the broker's website. If there is actually any catch that can be known only after trying it and trading it for sometime using this feature.
Artificial General Intelligence
leo23
Oct 14 2016 at 06:28
posts 567
The logic is very simple.

90% of the traders loose money in the market and hence, they will not send any deal cancellation orders to the inter-bank and hence, almost no risk of loss from their pocket.

In return, they will get huge amount commissions for each and every trade for both profitable and non profitable. So paying few profitable trades from that huge commissions will not be a big deal for them.

Artificial General Intelligence
vontogr (togr)
Oct 17 2016 at 05:48
posts 4862
leo23 posted:
The logic is very simple.

90% of the traders loose money in the market and hence, they will not send any deal cancellation orders to the inter-bank and hence, almost no risk of loss from their pocket.

In return, they will get huge amount commissions for each and every trade for both profitable and non profitable. So paying few profitable trades from that huge commissions will not be a big deal for them.


Basically any broker could do so...
slahov
Oct 17 2016 at 15:23
posts 7
OK. According to the Client Agreement you can not abuse hedging, so to go long and short the same currency pair at the same time, it is not allowed. Quote from this agreement:

Hedging in bad faith. Hedging is a strategy used in limiting or offsetting probability of loss from fluctuations in the prices of commodities, currencies, or securities. In effect, hedging in bad faith is the employment of various techniques but, basically taking equal and opposite positions in the same Financial Product or a Financial Product highly correlated at near the same time, indicating no interest in genuine trading. This can happen over a single account or over multiple accounts.
vontogr (togr)
Oct 17 2016 at 17:07
posts 4862
slahov posted:
OK. According to the Client Agreement you can not abuse hedging, so to go long and short the same currency pair at the same time, it is not allowed. Quote from this agreement:

Hedging in bad faith. Hedging is a strategy used in limiting or offsetting probability of loss from fluctuations in the prices of commodities, currencies, or securities. In effect, hedging in bad faith is the employment of various techniques but, basically taking equal and opposite positions in the same Financial Product or a Financial Product highly correlated at near the same time, indicating no interest in genuine trading. This can happen over a single account or over multiple accounts.

I did open trades in both direction
I did protect them both
No prob so far
slahov
Oct 18 2016 at 06:46
posts 7
I think, if you will make a lot of money this way (especially on news trading), then they will start complicating :). Maybe even not payout profits.
vontogr (togr)
Oct 18 2016 at 15:11
posts 4862
slahov posted:
I think, if you will make a lot of money this way (especially on news trading), then they will start complicating :). Maybe even not payout profits.

Lets test it on NFP
slahov
Oct 19 2016 at 08:57
posts 7
I agree. I just opned an account with them and will try this with the bonus that you get at the begining. Than we shall see :)
Charles_F
Oct 27 2016 at 14:48
posts 38
Let us all know how it went after the NFP 😄 Marketing trick or not, it seems to be working well for the broker since I see people opening real accounts to test it.
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