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Morey
#31 Posted : Saturday, September 11, 2010 2:20:32 AM
Rank: Member

Joined: 12/2/2007
Posts: 230
Location: London,SW
US regulations are only applicable to US residents e.g. FXCM-US doesn't allow hedging while FXCM-Uk does.I would rather go for a bigger broker than a smaller one because the chances of a smaller broker doing a run are very high.

Check out worldspreads-UK,any one ever used them?They were in the CNBCnews the other day and they argued that they lead while others follow.
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  | | Edit by user: Saturday, September 11, 2010 2:30 AM | Reason: Not specified
Mitaji
#32 Posted : Sunday, September 12, 2010 12:30:32 PM
Rank: New-farer

Joined: 9/6/2010
Posts: 12
Morey wrote:
They were in the CNBCnews the other day and they argued that they lead while others follow.


Laughing out loudly No disrespect to you Morey, but personally, I never watch CNBC and if I happen to browse through the channels and find something interesting on CNBC, I take it for what it is.....entertainment.

To all you newbies. Please avoid these FNNs(Financial news networks) like the plague. They are in the NEWS business, not the TRADING business.You will be surprised to note that NONE and I mean absolutely NONE,ZILCH,ZERO of the CNBC presenters are traders in anything.

I remember during one phone interview with Jim Rogers one presenter was opposing his trading opinion on Crude Oil.Jim was/is long on commodities & at the time, crude was at $42 barrel.The interview came to an akward premature end when Jim Rogers asked the guy if he was a trader. And the answer was an awkward silence then an embarrassing 'NO'.IF YOU NOT A TRADER, WHY SHOULD I LISTEN TO YOU?
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teletalk
#33 Posted : Sunday, September 12, 2010 1:26:41 PM
Rank: New-farer

Joined: 9/3/2010
Posts: 26
Location: Nairobi

Hi Guys,

I feel enlighted goin through this thread of Forex accounts. i would real love to get hand experience to learn abt this trading before enganging to the trade. Is there a site or books that can really help.
Thank yu
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guru267
#34 Posted : Sunday, September 12, 2010 1:36:56 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
Mitaji wrote:
Morey wrote:
They were in the CNBCnews the other day and they argued that they lead while others follow.


Laughing out loudly No disrespect to you Morey, but personally, I never watch CNBC and if I happen to browse through the channels and find something interesting on CNBC, I take it for what it is.....entertainment.

To all you newbies. Please avoid these FNNs(Financial news networks) like the plague. They are in the NEWS business, not the TRADING business.You will be surprised to note that NONE and I mean absolutely NONE,ZILCH,ZERO of the CNBC presenters are traders in anything.

I remember during one phone interview with Jim Rogers one presenter was opposing his trading opinion on Crude Oil.Jim was/is long on commodities & at the time, crude was at $42 barrel.The interview came to an akward premature end when Jim Rogers asked the guy if he was a trader. And the answer was an awkward silence then an embarrassing 'NO'.IF YOU NOT A TRADER, WHY SHOULD I LISTEN TO YOU?

@mitaji please get your facts straight because you are talking complete CRAP....

For your information most of CNBC europe and US reporters are actually former traders and economists....

So please go and parade your lies elsewhere...
Mark 12:29
Deuteronomy 4:16
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Mitaji
#35 Posted : Sunday, September 12, 2010 4:02:21 PM
Rank: New-farer

Joined: 9/6/2010
Posts: 12
@guru. Get your emotions in check before you post your replies man. What lies am I parading? If you could prove that these presenters are former traders, fine, I would humbly take back my comments.Trading live for a living is very different from being an economist.If you were one or the other, you would know.
My point was... Any trader can do without the CNBC or any other FNN channel. The best place to get info is from your charts.By the time the News gets to CNBC, the smart money has moved the market.Besides, I don't need info from 'former' traders who don't have any money on the chopping block.They are just spectators watching from the sidelines.Deuces.
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guru267
#36 Posted : Sunday, September 12, 2010 6:24:02 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
@mitaji you are parading lies because you clearly said that the reporters were not traders in anything...

And i never said that traders and economists are the same but i merely said that some reporters are economists and some are traders....

And i don't See why you should attack there stations and yet 3quarter of the time they have REAL and BRILLIANT traders and economists as guests giving the advice to us...

I mean How many times have we seen Warren Buffet giving us his expertise on CNBC???
Mark 12:29
Deuteronomy 4:16
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passiveinvestor
#37 Posted : Sunday, September 12, 2010 7:43:06 PM
Rank: Member

Joined: 12/8/2006
Posts: 104
Guys...let me make this REALLLY simple for everyone. NOBODY makes substantial money off FX and Commodity trading. Only COMPANIES (i.e. MARKET MAKERS) make any money, and even they get killed on very frequent occassions. Market makers make money off bid /ask spreads and nothing else. The traders they employ NEVER take leverage and NEVER go to sleep with any outstanding positions on ANY night...otherwise they get FIRED! They also barely ever give significant leverage to their clients....and when they do (eg to Hedge funds, LBO firms, other large clients), they get wiped out on a large scale every few years without fail. On the retail end, they give you leverage but you ALWAYS get wiped out on margin calls unless you're rich enough to survive the margin calls (in which case you wouldn't be trading but sticking to whatever day job it was that gave you that wealth to begin with) If you expect to make money TRADING...best of luck. BTW, for me making money refers to a period of more than 1 year or getting to a stage where you can do it exclusively for a living.
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Mitaji
#38 Posted : Sunday, September 12, 2010 7:53:01 PM
Rank: New-farer

Joined: 9/6/2010
Posts: 12
@Guru. I think it would be better if we concentrated our energies on the thread topic. Because we are digressing.My last word on this matter....
Guru I'm doubtful that you are able to pick information from these networks and turn it into profits on your account.If you are, then Hoorrrraaaaayyyy!!! you are a real guru...Applause

As you said, 3/4 of the time they have 'experts' giving advice. Buffet says long in the morning, at lunchtime, Soros says 'stay out' then Jim Rogers tells you to 'short' jioni. Who do you listen to? I think you get my drift. If you don't properly 'sieve' all this info CNBC pumps into your head, you will find yourself making some very bad trading decisions. If you do have the time, sit and watch CNBC for a whole day, you'll see what I mean. Successful traders have very few sources of information. You are even better off using 'DJNEWS' on your MT4 platform, its more current than CNBC.

As for attacking the station I can assure you that NONE of the CNBC presenters not guests, are traders...and as i said earlier, you can prove me wrong.

Lastly, Warren Buffet has a war-chest to play with. Economists deal with fundamentals. So if you are taking this kind of advice, I hope you are trading long term i.e. years mate.

@ Passive. I trade forex for a living. Profitably.
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  | | Edit by user: Sunday, September 12, 2010 8:25 PM | Reason: Not specified
passiveinvestor
#39 Posted : Sunday, September 12, 2010 11:34:09 PM
Rank: Member

Joined: 12/8/2006
Posts: 104
@Mitaji...wasn't necessarily directed at you...Good for you if you're trading profitably (I suspect your ability to stay focused and cut out the noise and fluffy advice from the Talking Heads on CNBC has gone a long way in helping you avoid losing your principal)!

More power to you bro!
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Mitaji
#40 Posted : Tuesday, September 14, 2010 8:22:56 AM
Rank: New-farer

Joined: 9/6/2010
Posts: 12
To all traders, please be careful trading this week. This week is quadruple witching week. So we may get high volatility especially on friday 3.00-4.00 pm ET.I would rather stay out of the market Thursday and Friday.
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