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- Visitor replied Nov 21, 2014
You can find one real breakout/trend continuation for every false breakout/exhaustion bar. That's why the closest thing to the holy grail is cutting your loss.
- Visitor replied Nov 14, 2014
The first currency in the pair is the 'base currency'. The second one is the 'quote currency'. You probably know that the value of 10,000 GBP/USD is 10,000 GBP. The value of 10,000 NZD/USD is 10,000 NZD. In this case both would release $1 of your ...
- Visitor replied Oct 19, 2014
The longer the time period you analyse the bigger the failure rate. How many traders are profitable during a 10 years period? If you trade forex to be profitable in one quarter and quit, then you have 30-40% chance to fulfill your dream. If you want ...
- Visitor commented Sep 26, 2014
He told you everything you need. "Forget the fundamentals" as we are talking about daytrading. “Buy stocks that are being bought, and sell stocks that are being sold.” "after learning to follow the momentum" "he bets wrong four out of 10 times. The ...
- Visitor replied Sep 4, 2014
Unusually strong words from an expert condemning the Financial Ombudsman Service. url "I am constantly staggered at how this industry tolerates the waywardness and irrationality of the Financial Ombudsman Service." "It is, of course, politically ...
- Visitor replied Sep 2, 2014
LCG and its white label IntertraderMT4. I wanted to dedicate this thread to the FOS solely but the moderator changed the thread title. The brokerage story is not unique, but the FOS is truly scandalous.
- Visitor replied Sep 1, 2014
I reported their fraud to the Serious Fraud Office (SFO) and to the Action Fraud. I wrote this letter for the fun. Subject: The legitimate fraud. Running an organized crime syndicate or the malfunction of a public agency. Sent to: (1) Serious Fraud ...
- Visitor replied Sep 1, 2014
The falsified statistics: According to the Wikipedia, they claim to uphold 49% of the complaints. My complaint is published on their website as an upheld complaint. They rejected my £5,000 claim and ordered the financial firm to pay £100 for a minor ...
- Visitor replied Sep 1, 2014
The Independent Assessor again: Here is something from their website: ”Sir Nicholas Montagu, chairman of the ombudsman service, welcomed Ms Somal to her new role, saying: The independent assessor plays a vital role - not only in providing people who ...
- Visitor replied Sep 1, 2014
The Independent Assessor again: I contacted her office third time after I requested the disclosure of the evidence but I didn’t get any feedback from the FOS for a while. Earlier they found everything fine and fully explained, so who cares about the ...
- Visitor replied Sep 1, 2014
The Independent Assessor again: I contacted her office again when I recognized that the ombudsman’s decision dated 2 days before my deadline to submit my opinion for the ombudsman’s review expired. She said the date is wrong. Additionally she said: ...
- Visitor replied Sep 1, 2014
Independent Assessor: I am going to spend more time discussing this useless window dressing position, because she is supposed to be independent from the FOS structure. I let you decide. Their ’complaint about our service’ factsheet says ”if you’re ...
- Visitor replied Sep 1, 2014
My Freedom of Information Act request: The FOS employees refused to answer my reasonable questions, so I decided to put some pressure on the issue that the ombudsman’s evidence wasn’t disclosed in the decision. I made a request under the Freedom of ...
- Visitor replied Sep 1, 2014
Service complaint example: How they dealt with a specific issue. The adjudicator pretended not to receive my email I sent 20+ times, while he answered from the same mailbox when he was asked about the 20+ emails. I told him that finally I had sent ...
- Visitor replied Sep 1, 2014
The senior manager and my escalated service complaint: “Your ‘complaint about our service’ factsheet says: ‘If we get things wrong, it is important that you tell us, so we can try to put matters right. This also helps us improve our service for ...
- Visitor replied Sep 1, 2014
The team manager and my service complaint: ”Your 'complaints about our service' factsheet says: "if you think that in handling your case we have: treated you unfairly, failed to explain things properly....". I was treated unfairly, the problem has ...
- Visitor replied Sep 1, 2014
Service complaint: Let me explain how the system works. The adjudicators and the ombudsmen have to include in their ruling the magical “I have considered all the available evidences and arguments to decide what is fair and reasonable” statement (or ...
- Visitor replied Sep 1, 2014
The ombudsman: PIP (percentage in point) is the base unit of the foreign exchange market. It is the fourth decimal place of the foreign exchange quote (or second in the case of the JPY). When the firm lied that PIP relates to the fifth decimal place ...
- Visitor replied Sep 1, 2014
The adjudicator: ”Paragraph 4.9 [...] a Pricing Error [...]. It seems to me to be unlikely that all the activity involved in opening a trade, checking the subsequent closing price, deciding to give a closing instruction to take a profit, and then ...
- Visitor replied Sep 1, 2014
Let me write only one post about the underlying story. I take the responsibility for my stupidity. First time in my life I applied to participate in a bonus offer with a 90 calendar days release criteria. It was a white label of a FSA regulated ...