BIG BROTHER WANTS TO REDUCE FOREX LEVERAGE
Retail Forex
FINRA Requests Comment on Proposed Rule to
Establish a Leverage Limitation for Retail Forex
Comment Period Expires: February 20, 2009
Executive Summary
FINRA is requesting comment on a proposed rule prohibiting any member firm from permitting a customer to: (1) initiate any forex position with a leverage ratio of greater than 1.5 to 1; and (2) withdraw money from an open forex position that would cause the leverage ratio for such position to be greater than 1.5 to 1.
The text of proposed FINRA Rule 2380 (Leverage Limitation for Retail Forex) is set forth in Attachment A.
Questions concerning this Notice should be directed to:
Gary Goldsholle, Vice President and Associate General Counsel,
Office of General Counsel (OGC), at (202) 728-8104; or
Matthew E. Vitek, Counsel, OGC, at (202) 728-8156.
Action Requested
FINRA encourages all interested parties to comment on the proposal.
Comments must be received by February 20, 2009.
Email comments to pubcom@finra.org
========================================
Full text attached.
EVERYONE MUST SEND AN EMAIL AND TELL BIG BROTHER TO BUTT OUT!!
Wednesday, February 4, 2009
Tuesday, December 2, 2008
2008.12.02 NEVER LOSE AGAIN THREADS
I have started the NEVER LOSE AGAIN thread in several forums:
http://forums.babypips.com/show-me-money-daytrading/16021-never-lose-again.html
http://www.forexforums.org/forex-discussion/171081-never-lose-again-therumpledone.html
http://www.trade2win.com/boards/equities/41916-never-lose-again-therumpledone.html
http://www.mypivots.com/forum/topic.asp?TOPIC_ID=3497&whichpage=1
http://www.traderslaboratory.com/forums/f208/never-lose-again-therumpledone-4859.html
http://forums.forexmicrolot.com/showthread.php?t=2500
Saturday, November 15, 2008
ALL YOU NEED TO TRADE IS A HORIZONTAL LINE
TRADING IS SIMPLE.
There is an entire industry built around making you think it is complicated.
All you need is a HORIZONTAL LINE on your chart to be a profitable trader.
I bet you doubt me, don't you?
Go long when the price moves UP to a price ends in 00, 25, 50 or 75.
Go short when the price moves DOWN to a price ends in 00, 25, 50 or 75.
IT IS THAT SIMPLE!!
Look at the chart and see how many pips you can make when you trade with the H1 candle color.
You can do this with stocks, currencies, futures, etc.
Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.
Pick ANY candle on the chart.
1) identify the color.
2) let the candle close
3) if the next candle is NOT the same color then:
if the current candle is GREEN go LONG at the FIRST line it approaches
if the current candle is RED go SHORT at the FIRST line it approaches
When to exit? Usually, when price stalls.
Stop loss? If price crosses the previous candle's midpoint.
Does that help?
So simple.
If H1 candle closes green then on next red candle go SHORT at the line.
If H1 candle closes red then on next green candle go LONG at the line.
Be patient. Don't rush the trade.
Don't be greedy and you can rack up the pips.
Let me answer the WHIPSAW protester before they even get started.
Of course, there will be price action around the x.00 and x.50 levels. That's what we are looking for and that's the reason we trade with the color of the H1 candle rather than the M1 candle ( M1 chart above ).
Just use a little risk management and money management.
Practice with 1 minilot or 0.1 minilot until you get the hang of it.
One of the things you want in trading is an "edge".
You are NOT going to win every trade.
So you want something that gives you a edge.
Casinos have edge in the range of 0.55 - 2%. That's all they need.
My statistics show this edge is much higher.
Choppy days? I love choppy days. So long as the average hourly range is over 25, that's all the edge I need. THINK ABOUT IT!!
You can look for situations where this doesn't work...
-OR-
You can wait for the setup and walk away with a handful of pips.
IT'S ALL UP TO YOU!
The best trade is waiting for the reversal.
When to get out? If you have profit, get out when you want to. You can always exit part of your position. Move stop up to breakeven and let the rest ride!
Once again, the color of the previous candle makes no difference. YOU TRADE WITH THE CURRENT CANDLE COLOR. It is that simple. Don't make this simple trading method complicated.
Once again, waiting for a reversal is the "safe" trade.
You must trade in the moment. The past is over!
All that matters is what price is doing now!!
What would you do if all you had on your chart was the current candle?
If the current candle is green would you short?
If the current candle is red would you buy?
Does this make it clearer?
This is a safe trade for the new trader.
But, whether or not you use the previous candle to decide if you are going to trade the current candle, YOU MUST FOCUS ON THE CURRENT CANDLE TO DECIDE WHICH WAY TO TRADE.
TRADING IS SIMPLE.
There is an entire industry built around making you think it is complicated.
All you need is a HORIZONTAL LINE on your chart to be a profitable trader.
I bet you doubt me, don't you?
Go long when the price moves UP to a price ends in 00, 25, 50 or 75.
Go short when the price moves DOWN to a price ends in 00, 25, 50 or 75.
IT IS THAT SIMPLE!!
Look at the chart and see how many pips you can make when you trade with the H1 candle color.
You can do this with stocks, currencies, futures, etc.
Oh when to take profits? Where to place stops? Just DON'T BE GREEDY and use COMMON SENSE! Learn some money management.
Pick ANY candle on the chart.
1) identify the color.
2) let the candle close
3) if the next candle is NOT the same color then:
if the current candle is GREEN go LONG at the FIRST line it approaches
if the current candle is RED go SHORT at the FIRST line it approaches
When to exit? Usually, when price stalls.
Stop loss? If price crosses the previous candle's midpoint.
Does that help?
So simple.
If H1 candle closes green then on next red candle go SHORT at the line.
If H1 candle closes red then on next green candle go LONG at the line.
Be patient. Don't rush the trade.
Don't be greedy and you can rack up the pips.
Let me answer the WHIPSAW protester before they even get started.
Of course, there will be price action around the x.00 and x.50 levels. That's what we are looking for and that's the reason we trade with the color of the H1 candle rather than the M1 candle ( M1 chart above ).
Just use a little risk management and money management.
Practice with 1 minilot or 0.1 minilot until you get the hang of it.
One of the things you want in trading is an "edge".
You are NOT going to win every trade.
So you want something that gives you a edge.
Casinos have edge in the range of 0.55 - 2%. That's all they need.
My statistics show this edge is much higher.
Choppy days? I love choppy days. So long as the average hourly range is over 25, that's all the edge I need. THINK ABOUT IT!!
You can look for situations where this doesn't work...
-OR-
You can wait for the setup and walk away with a handful of pips.
IT'S ALL UP TO YOU!
The best trade is waiting for the reversal.
When to get out? If you have profit, get out when you want to. You can always exit part of your position. Move stop up to breakeven and let the rest ride!
Once again, the color of the previous candle makes no difference. YOU TRADE WITH THE CURRENT CANDLE COLOR. It is that simple. Don't make this simple trading method complicated.
Once again, waiting for a reversal is the "safe" trade.
You must trade in the moment. The past is over!
All that matters is what price is doing now!!
What would you do if all you had on your chart was the current candle?
If the current candle is green would you short?
If the current candle is red would you buy?
Does this make it clearer?
This is a safe trade for the new trader.
But, whether or not you use the previous candle to decide if you are going to trade the current candle, YOU MUST FOCUS ON THE CURRENT CANDLE TO DECIDE WHICH WAY TO TRADE.
Friday, October 10, 2008
NEVER LOSE AGAIN
NEVER LOSE AGAIN!!
My TREND INDICATOR - NEVER LOSE AGAIN!! thread was the most widely viewed thread in TradeStation history. I believe it still holds the record for the most number of views. I have decided to "revive" it again.
The bottom line is you don't have to end the day, week, month, or year in the red. You can be profitable. You may not win every trade but you will be profitable.
I know most of you have read about money management, risk management, position sizing, stops, etc... So then what are the reason(s) you are still losing? Is the market beating you? Are your stops being hunting? Or are you simply giving your money away?
When you enter the TRADING JUNGLE, you are up against the best traders in the world. They are smarter, faster, have more money, have better equipment, better access to information... better everything than you do! What makes you believe you can win? What "edge" are you bringing to the table that will allow you to take their money? Don't you know the game is "rigged" against you just like in Vegas?
What's the reason you see some currency pairs move over a 100 pips a day yet you're happy barely breaking even? What makes trading so difficult for you? What are you doing?
I know you have read about having a trading plan, haven't you? Do you have one? Come on, be honest... DO YOU REALLY HAVE A TRADING PLAN?
If you do, DO YOU REALLY TRADE ACCORDING TO YOUR PLAN? Come on now, it's time to FESS UP.
What about all those trading books, tapes, videos, and seminars? Ever wonder why there are so many? I just ONE had the answer, then wouldn't it go "viral" and everybody would be trading that method? THINK ABOUT IT.
What about all those indicators, EAs, blackboxes, trading signals and systems for sale? If one of them worked wouldn't it go "viral", too?
I have posted hundreds of FREE INDICATORS for TradeStation, eSignal and MetaTrader. Why? Because I can! I don't like seeing people pay hundreds and thousands of dollars for code, most of which, doesn't work or is way overpriced, IMHO. If you check me out, you'll see I have been banned from many forums. My FREE indicators are a THREAT to their cashflow. My free education materials also threaten their cashflow. Just do the math.
I have been accused of "renaming" indicators. Yes, I rename them AFTER I enhance them because if I post a modified version with the exact same name as the original then it gets "stepped on" and any good programmer knows better than to step on code. But I post my revised/enhanced/fixed version FOR FREE on the same site I downloaded them from. So where's the crime? Some people let their egos get in the way.
I have been accused of SPAMMING because I am an IB for MB Trading. Before I was an IB, I didn't even know what an IB was. The reason I am an IB was because when I found out that there is NO FIXED SPREAD in Forex, I immediately opened an account with EFX Group and posted about it everywhere I could. That had the effect of bringing EFX more customers. As a THANK YOU, they made me an IB. And it got me banned from sites that had FIXED SPREAD BROKERS as advertisers.
Whenever MONEY is involved, it is a DOG EAT DOG, EAT CAT TOO jungle. The sooner you learn that fact the better.
The goal of this thread is to show you how to NEVER LOSE AGAIN. Trading is simple. People traded long before there were computers and indicators. So why do you have so many computers and indicators?
Do you really know how the FOREX market operates? Or do you just know how to place an order? What have you gotten yourself into? THINK ABOUT IT!
http://forums.babypips.com/show-me-money-daytrading/16021-never-lose-again.html
http://kreslik.com/forums/viewtopic.php?t=1373&postdays=0&postorder=asc&start=0
http://forums.stockfetcher.com/sfforums/?q=view&fid=1001&tid=67236&qrid=
TradeStation deleted the TREND INDICATOR - NEVER LOSE AGAIN thread which was the most widely viewed thread in TradeStation history. Fortunately, the thread was retrieved from the google cache.
TREND INDICATOR - NEVER LOSE AGAIN
http://rapidshare.com/files/33011697/Trend_Indicator.rar.html/
TREND INDICATOR - NEVER LOSE AGAIN ELD files
http://rapidshare.com/files/33007096/DATA.rar.html/
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