kumnio Posted December 16, 2014 Share Posted December 16, 2014 Anyone do this online? Quote Link to comment Share on other sites More sharing options...
OLAS Posted December 16, 2014 Share Posted December 16, 2014 Khana Lagur is the man to ask Quote Link to comment Share on other sites More sharing options...
Mee Posted December 16, 2014 Share Posted December 16, 2014 Pure gambling IMO and normally leveraged too. You can have no way of knowing all the things happening that would make markets go one way or another. Quote Link to comment Share on other sites More sharing options...
Mee Posted January 16, 2015 Share Posted January 16, 2015 (edited) http://www.bloomberg.com/news/2015-01-15/new-zealand-currency-broker-closes-on-losses-after-swiss-shock.html There will be a lot of home traders skint after yesterday. My new rule of thumb is if you see one type of company sponsoring all the top football teams, steer clear cause they are making a fortune off of someone. Just now that is online betting and fx trading. Clients experienced significant losses after the francs surge, FXCM said in a statement dated Jan. 15. That generated negative equity balances owed to FXCM of approximately $225 million. Most of FXCMs retail clients lost money in 2014, according to the companys disclosures mandated by the CFTC. The percentage of losing accounts climbed from 67 percent in the first and second quarters to 68 percent in the third quarter and 70 percent in the fourth quarter. Edited January 16, 2015 by Mee Quote Link to comment Share on other sites More sharing options...
Nobby Posted January 16, 2015 Share Posted January 16, 2015 http://www.bloomberg.com/news/2015-01-15/new-zealand-currency-broker-closes-on-losses-after-swiss-shock.html There will be a lot of home traders skint after yesterday. My new rule of thumb is if you see one type of company sponsoring all the top football teams, steer clear cause they are making a fortune off of someone. Just now that is online betting and fx trading. Clients experienced significant losses after the francs surge, FXCM said in a statement dated Jan. 15. That generated negative equity balances owed to FXCM of approximately $225 million. Most of FXCMs retail clients lost money in 2014, according to the companys disclosures mandated by the CFTC. The percentage of losing accounts climbed from 67 percent in the first and second quarters to 68 percent in the third quarter and 70 percent in the fourth quarter. No one will be trading with West Ham's sponsor Alpari anymore the removal of the CHF cap at 1.20 has sent them skint !!! Quote Link to comment Share on other sites More sharing options...
Khana Lagur Posted January 16, 2015 Share Posted January 16, 2015 Pure gambling IMO and normally leveraged too. You can have no way of knowing all the things happening that would make markets go one way or another. You're entitled to your opinion but I'll respectfully disagree that it's 'pure gambling'. In my experience that's generally the opinion of someone who loses more than they win, or has no idea what trading is all about. Leverage is a necessary aspect of trading, as few retail investors have the ready funds to cover a full position.Also, without leverage many currency pairs would be too illiquid to trade. In saying that, it can seriously work against you (see below), which is why you need to know what your doing (first and foremost) and have a responsible broker who will pull your positions if you are heading for serious trouble. Your second point is correct in theory, but you don't need to know everything to do well. I only needed to know two things to have been long CHF/JPY since Nov 2012, short EUR/USD since last Aug, short EUR/CHF since Jul 2013 and short Brent crude since June last year. Most people over-complicate things. The SNB's decision was genuinely a surprise - but such 'news' shouldn't matter if your are correctly positioned and know what you're doing. What happens in the market happens. All you can control is yourself. That's all you need to know. If you know how to control any possible loss, it's trading, not gambling - they are two very different things. http://www.bloomberg.com/news/2015-01-15/new-zealand-currency-broker-closes-on-losses-after-swiss-shock.html There will be a lot of home traders skint after yesterday. My new rule of thumb is if you see one type of company sponsoring all the top football teams, steer clear cause they are making a fortune off of someone. Just now that is online betting and fx trading. Clients experienced significant losses after the francs surge, FXCM said in a statement dated Jan. 15. That generated negative equity balances owed to FXCM of approximately $225 million. Most of FXCMs retail clients lost money in 2014, according to the companys disclosures mandated by the CFTC. The percentage of losing accounts climbed from 67 percent in the first and second quarters to 68 percent in the third quarter and 70 percent in the fourth quarter. IMO that's low - know some brokers that would be in the high 80/low 90 area. Most people lose not because they don't know lots about what they're doing but because they take on too much leverage and have no (or poor) trading discipline. If brokers are losing money because of client losses then IMO they are partly to blame. They are probably offering clients leverage way beyond their trading competence (something compliance is way to lax on). The other reason brokers lose money is through poor hedging and taking on improper risk. If they are carrying highly leveraged clients with big positions they have to cover properly. Many get caught out because they simply cannot offload massive positions in minutes without exacerbating the market's downside. Kumnio - yes Quote Link to comment Share on other sites More sharing options...
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