Pharaoh
Brigadier General
- Messages
- 20,310
Jan,
The "Governor of D.C." just runs the city and has nothing to do with national policy. This is a probably a good thing, considering that one of them got busted on drug charges while in office.
If complaining to the CFTC fails, the next step for traders would be to complain to the US Congress and to President Obama. We can all also hope that brokers band together and file a legal challenge if this happens. If they do, I'll be looking for ways to support this challenge.
Spak3060,
Although I think 10:1 is way too low, a strategy that requires 500:1 upfront is probably not the safest way to trade. I personally open individual trades in the 5:1 to 10:1 range, but save my remaining leverage to either scale in to winning positions or to place separate trades on pairs unrelated to the long term ones I've got "parked" in my account.
Special note for the math challenged who have made some strange assertions earlier in this thread - no broker can force you to use more leverage - except by setting minimum trade size. If a broker has a minimum trade size of 1 fill lot on accounts with only a $1000 balance, seek a different broker. Also, a pip on trading a full lot of xxxUSD is worth $10 no matter what leverage you are using or how much money is in your account. Risk management is done by controlling your trade size and SL.
The "Governor of D.C." just runs the city and has nothing to do with national policy. This is a probably a good thing, considering that one of them got busted on drug charges while in office.
If complaining to the CFTC fails, the next step for traders would be to complain to the US Congress and to President Obama. We can all also hope that brokers band together and file a legal challenge if this happens. If they do, I'll be looking for ways to support this challenge.
Spak3060,
Although I think 10:1 is way too low, a strategy that requires 500:1 upfront is probably not the safest way to trade. I personally open individual trades in the 5:1 to 10:1 range, but save my remaining leverage to either scale in to winning positions or to place separate trades on pairs unrelated to the long term ones I've got "parked" in my account.
Special note for the math challenged who have made some strange assertions earlier in this thread - no broker can force you to use more leverage - except by setting minimum trade size. If a broker has a minimum trade size of 1 fill lot on accounts with only a $1000 balance, seek a different broker. Also, a pip on trading a full lot of xxxUSD is worth $10 no matter what leverage you are using or how much money is in your account. Risk management is done by controlling your trade size and SL.