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- PrivateFX replied Oct 6, 2007
I personally wouldn't use MBT for news trading, maybe after the release but definitely not before or during. I just had a 45 pip slippage recently. It ignored my stop loss completely and passed it by an additional 45 pips against me. I didn't trade ...
- PrivateFX replied Oct 6, 2007
Sorry to hear that, but this happens all the time with bucketshops. They are like casinos but worse. They'll never let you win. If you do, they take it back and kick you out.
- PrivateFX replied Sep 29, 2007
Sorry about your loss. Don't feel bad but think of this as a learning experience. Forex is NOT EASY. Just stick around the forums and try to learn as much as you can. You'll eventually figure out a way to make money but you'll also find out quickly ...
- PrivateFX replied Sep 29, 2007
I personally wouldn't trust any bucketshop broker with 100k. If you plan on investing that much, go with a real broker that passes your trades through a real marketplace. There's no reason to put that kind of money in a bucketshop.
- PrivateFX replied Sep 29, 2007
Oanda is a dealing desk broker
- PrivateFX replied Sep 29, 2007
In my opinion, I think it may be best that you go back to some demo trading to prevent yourself from losing more money and to find something that works for you first. There is no rush to be in the market, it will always be here. When trading, it's a ...
- PrivateFX replied Sep 29, 2007
of course anything is possible. It's "possible" to even make 1000% in a month. But all that really doesn't matter because the true question is.....is it realistically possible? Everyone has bad months, the best, the worst, the mediocre. If you try ...
- PrivateFX replied Sep 29, 2007
The bucketshop holds a separate account for clients' funds. When a client loses money from his/her account, that loss of funds gets transfered to the broker's bank account as profit. This is easy for them to do since nothing is being passed through ...
- PrivateFX replied Sep 15, 2007
I only charge a 28% performance fee on new net profits once a month. I don't charge any annual management fees and I don't receive any pip rebates on trades either. I believe that I should only be compensated when I perform. Industry average varies ...
- PrivateFX replied Sep 9, 2007
It makes sense Go Getter. One of the most difficult things is to throw the emotions out the window. To me, I look at trading losses as expenses. They don't phase me at all. My winning trades don't really get me all excited either. I know my system ...
- PrivateFX replied Sep 9, 2007
no offense taken at all my friend. My post wasn't geared directly towards you or anything. I was just expressing my point and opinion.
- PrivateFX replied Sep 8, 2007
I agree with what you say here. Complicating things isn't going to necessarily make things any better. Simple systems do in fact work and make money. The reason why many people fail even with a good simple system is because they never stick with it ...
- PrivateFX replied Sep 7, 2007
I'm not surprised by all this. Most bucketshops eventually do dirty tricks like this. Hopefully people will get back their funds.
- PrivateFX replied Sep 7, 2007
what kind of spreads do you consider high and what kind of spreads are you looking for? Keep in mind that even if you go with an ECN with super low spreads like 0-2 pips, there are still commission costs and if you factor all of that in, you ...
- PrivateFX replied Sep 7, 2007
Same business model as a casino. Casinos offer free credits to play, comps,etc because they know you'll lose it all and put in more. It's a great marketing tool for these types of brokers and casinos. Always remember, there's no free lunch
- PrivateFX replied Sep 7, 2007
I believe in K.I.S.S . The market is indeed complex but if you make a system so complicated with tons of rules, you then start to filter out not just the bad trades but a lot of the potentially good ones too. I K.I.S.S and apply strict money and ...
- PrivateFX replied Sep 6, 2007
Are there any other members who trade in this, or a similar way? I trade in a similar fashion. I trade 24 hours a day for my managed account services and for my own account too. Both are done at the same time and manually. If so, how do you cope ...
- PrivateFX replied Sep 5, 2007
I know how you feel the_wizard. I had people tell me the same thing. One of the things that I noticed was that a lot of the remarks from people saying these things were coming from people who thought that 5-10% a year return is already considered ...
- PrivateFX replied Sep 5, 2007
I never used Hotspot but heard good things about them. I use MBT for my managed account business. I agree about their swaps, pretty crappy but my trading methods don't rely on it so it doesn't bother me at all. Their commissions to me are manageable ...
- PrivateFX replied Sep 4, 2007
Yes, it is possible but I personally don't even focus on pip account. There are times where I can actually have a negative pip count for the month but still be profitable (dollar and percentage wise) It's all about your money / risk management. ...