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  • #4,021
  • Jan 25, 2015 4:00pm Jan 25, 2015 4:00pm
Nice trying Tim, but Mr Overleveraged sailor of the OTC ocean doesnt have a little clue bout market mechanics. Or am I wrong?
"I know one thing, that I know nothing." Sokrates
  • #4,022
  • Jan 25, 2015 4:02pm Jan 25, 2015 4:02pm
I don't blame anyone. I make a great income trading forex. My entire issue is with the NFA trying to limit what I earn by imposing restrictions that do not exist elsewhere. The UK is well regulated by FCA. Their clients trade without limitations and their funds are protected. You have me all wrong here, I keep my forex funds in my bank account, I risk 3 % of those funds when I enter, I scale in when position moves in my favor. always moving stops to b/e along the way. I maybe at some points using 200:1 on money with broker, but 90% of my account is still in my bank, not with broker. I can't do that in this with NFA regulated broker. I can't trade with any other regulated non_US broker because the NFA feels they have the right to regulate evryone in the world.
  • #4,023
  • Jan 25, 2015 4:12pm Jan 25, 2015 4:12pm
Quoting Tim_isoara
{quote} Is OANDA a Market Maker? OANDA is a market maker, not a dealing desk. The prices on our trading platforms are proprietary and we do not guarantee they will be the same as those offered by other brokers. Does this mean OANDA is trading against me? Does OANDA trade against its clients? While some firms may take on exposure in the market on the gamble that their clients are going to make losing trades, OANDA aggregates exposure and hedges...
So I guess i still do not understand, this is not a quote from myself, but in writing on the Oanda website:

 

  1. From Oanda's website:

    When you enter into an OTC Contract with OANDA, you will be entering into a privately negotiated contract with
    OANDA as principal. This means that OANDA acts as the seller when you buy and the buyer when you sell.

How much clearer can that statement be?

  • #4,024
  • Jan 25, 2015 4:13pm Jan 25, 2015 4:13pm
Quoting Profit Daily
I don't blame anyone. I make a great income trading forex. My entire issue is with the NFA trying to limit what I earn by imposing restrictions that do not exist elsewhere. The UK is well regulated by FCA. Their clients trade without limitations and their funds are protected. You have me all wrong here, I keep my forex funds in my bank account, I risk 3 % of those funds when I enter, I scale in when position moves in my favor. always moving stops to b/e along the way. I maybe at some points using 200:1 on money with broker, but 90% of my account...
I trade with brokers from USA, UK and Australia.
But my bank account, my house, my car is not in the broker account.
Is your problem, you like a broker that is not regulated.
  • #4,025
  • Jan 25, 2015 4:17pm Jan 25, 2015 4:17pm
Quoting Tim_isoara
{quote} I trade with brokers from USA, UK and Australia. But my bank account, my house, my car is not in the broker account. Is your problem, you like a broker that is not regulated.
No, my PROBLEM is I don't have a choice. I refuse to be limited by the restrictions the NFA imposes and it' only going to get worse. The second issue is the NFA totally overextends it's boundaries by telling brokers regulated in other countries they can't accept me as a client. So there is no choice, other than to leave the US, which I am seriously considering.
  • #4,026
  • Jan 25, 2015 4:20pm Jan 25, 2015 4:20pm
Quoting Profit Daily
{quote} No, my PROBLEM is I don't have a choice. I refuse to be limited by the restrictions the NFA imposes and it' only going to get worse. The second issue is the NFA totally overextends it's boundaries by telling brokers regulated in other countries they can't accept me as a client. So there is no choice, other than to leave the US, which I am seriously considering.
Open an offshore firm. And trade with regulated broker.
  • #4,027
  • Jan 25, 2015 4:24pm Jan 25, 2015 4:24pm
Quoting Profit Daily
{quote} So I guess i still do not understand, this is not a quote from myself, but in writing on the Oanda website:
I was responding to his affirmation.


Quoting ForexOracle
{quote} The MM is the counter party in any trade. COUNTER PARTY....understand!!!!!!!!!!!!!!!

Tim_isoara
No. MM isnt the counter party in any trade.
  • #4,028
  • Jan 25, 2015 4:28pm Jan 25, 2015 4:28pm
Quoting Tim_isoara
{quote} Open an offshore firm. And trade with regulated broker.
I know people who have attempted that. Even folks with dual citizenship, the US passport prevents opening account with the regulated non-US brokers.
  • #4,029
  • Jan 25, 2015 4:49pm Jan 25, 2015 4:49pm
Quoting Profit Daily
You have me all wrong here, I keep my forex funds in my bank account, I risk 3 % of those funds when I enter, I scale in when position moves in my favor. always moving stops to b/e along the way. I maybe at some points using 200:1 on money with broker, but 90% of my account is still in my bank, not with broker.
No, I understand it very well. Thats why I, at the very beginning of this conversation pointed out if you want to use offshore you gotta apply hit and run tactic. You also say you scale in and able to leverage up to 200:1. Point is, you are an obvious scalper.

What am I so desperately trying to tell you is this:
All brokers and banks are in the business for profit and one of the ways to take profit is to trade against clients. If want to be in this business of stealing, they need to hide. And there are two ways to hide. Technically it means manipulating such microtimeframes noone notices = robbing scalpers. Legislatively you are hiding in offshore.
Result is: The most vulnerable retail FX traders are scalpers trading in offshore.
T
"I know one thing, that I know nothing." Sokrates
  • #4,030
  • Jan 25, 2015 5:01pm Jan 25, 2015 5:01pm
Quoting Profit Daily
{quote} I know people who have attempted that. Even folks with dual citizenship, the US passport prevents opening account with the regulated non-US brokers.
A firm from Belize is not a USA citizen.
  • #4,031
  • Jan 25, 2015 8:23pm Jan 25, 2015 8:23pm
Quoting coliseum100k
{quote} The Forex market is changing drastically this year. There is a alternative coming soon.
Whats the altenative ?
  • #4,032
  • Jan 25, 2015 8:44pm Jan 25, 2015 8:44pm
what alternative? One could trade fx futures contracts on the CME. Americans can't trade on LMAX and binary options are just a rip-off scam. So what alternative do you propose?
  • #4,033
  • Jan 25, 2015 8:50pm Jan 25, 2015 8:50pm
http://forexmagnates.com/dukascopy-b...argin-eur-chf/


lol. While the ridiculous NFA lowers leverage, real brokers, who are even better regulated and protect client funds are returning to normal.
  • #4,034
  • Jan 25, 2015 8:51pm Jan 25, 2015 8:51pm
We have got to take a stand and fight for our freedoms, people. This is ridiculous.
  • #4,035
  • Jan 25, 2015 8:56pm Jan 25, 2015 8:56pm
Great comment from a non-US resident:

If I had to trade under their rules and margin, trading FX would not pay my bills. Not only am I able to hedge drawdowns, but I can take off portions of large positions I have scaled into, right near the pullbacks and dips (when I get it right), bank some profit for the day, and let the more mature positions ride (LIFO). After all of that, I can look for setups to add more, possibly hedge, or just get out (you get the idea). Outside of the US, I have the capability and flexibility to manage my trades for maximum profit potential. Sure, I get stopped out because I am too early, or just plain wrong, but when I can build a good position with multiple trades at the time and price of my choosing, and get it right, well, you know what happens http://forums.babypips.com/images/sm...yahoo/cool.gif

None of us can expect to live reasonably well trading .1 lots on the short term, but that's all many of us will have theopportunity for, and means to risk,going forward. My most profitable trade in 2014 was on USDMXN. I would have never been watching that pair at 5% margin. This Monday, it goes to 6%. AUD and JPY increase to 3%! US traders have to now put up and risk over $3k for $8.50/pip on a 1 lot USDJPY trade?! USDMXN will be $6,000! On the other hand, I will only risk $500 for the same trade. When I get it right,I will have the opportunity to scale up- The US trader will have only a fraction of the same potential.

Here's Oanda putting lipstick on this pig-

"Some companies outside the U.S.A. may offer 100:1 leverage, or even 200:1, but OANDA believes these levels are far too risky and could cause clients to lose all their funds very quickly. Serious professionals seldom trade at those levels of risk."

Are you buying any of the Oanda statement? Seldom is the key word. I seldom go 200:1, but when I do, the strength of the position warrants the risk, and I can make a ton of money to pay for my losers AND go buy groceries. I have the opportunity! The risk isn't in the leverage, it's in the trade size. Why are there so many people that believe leverage is "far too risky"? Leverage isn't the problem- People who don't trade proper size are. Leverage is a tool that provides opportunity withless risk. Forking money over to any broker is a risk! The NFA wants us to give more money to the brokers? To protect us from risk? Like PFG or MF?

Read more: http://forums.babypips.com/forex-bro...#ixzz3PtODSDRV
  • #4,036
  • Edited Jan 26, 2015 3:16am Jan 25, 2015 9:42pm | Edited Jan 26, 2015 3:16am
Quoting Profit Daily
Great comment from a non-US resident: If I had to trade under their rules and margin, trading FX would not pay my bills. Not only am I able to hedge drawdowns, but I can take off portions of large positions I have scaled into, right near the pullbacks and dips (when I get it right), bank some profit for the day, and let the more mature positions ride (LIFO). After all of that, I can look for setups to add more, possibly hedge, or just get out (you get the idea). Outside of the US, I have the capability and flexibility to manage my trades for maximum...
Profit Daily, Which broker would you like us to prefer?
  • #4,037
  • Jan 26, 2015 12:05am Jan 26, 2015 12:05am
Quoting Profit Daily
Great comment from a non-US resident: If I had to trade under their rules and margin, trading FX would not pay my bills. Not only am I able to hedge drawdowns, but I can take off portions of large positions I have scaled into, right near the pullbacks and dips (when I get it right), bank some profit for the day, and let the more mature positions ride (LIFO). After all of that, I can look for setups to add more, possibly hedge, or just get out (you get the idea). Outside of the US, I have the capability and flexibility to manage my trades for maximum...
Basically this is a whole rant about not being able to borrow large sums of money for very little collateral. In every other situation, the borrower would be laughed at. Why is it that in the forex community, such rants are agreed with and even supported?
  • #4,038
  • Jan 26, 2015 12:31am Jan 26, 2015 12:31am
Quoting Profit Daily
Great comment from a non-US resident: If I had to trade under their rules and margin, trading FX would not pay my bills. Not only am I able to hedge drawdowns, but I can take off portions of large positions I have scaled into, right near the pullbacks and dips (when I get it right), bank some profit for the day, and let the more mature positions ride (LIFO). After all of that, I can look for setups to add more, possibly hedge, or just get out (you get the idea). Outside of the US, I have the capability and flexibility to manage my trades for maximum...
You do not understand risk management at all.
  • #4,039
  • Jan 26, 2015 1:37am Jan 26, 2015 1:37am
Quoting Profit Daily
- The risk isn't in the leverage, it's in the trade size. Why are there so many people that believe leverage is "far too risky"? Leverage isn't the problem- People who don't trade proper size are. Leverage is a tool that provides opportunity withless risk.
\

You do not undestand correlation between leverage and trade size.
  • #4,040
  • Jan 26, 2015 1:40am Jan 26, 2015 1:40am
It's the same kind of people who don't understand why they owe negative balances.
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