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Need help from an English native speaker...please

Discussion in 'Beginners Bootcamp' started by zx10, Jan 16, 2010.

  1. zx10

    zx10 Private

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    Hi there,
    i`m new in this forum and i`m very sorry if i submit my thread in the wrong section.

    i had a bad experience with some big forex company support person, and i need from you ( please ) to help me to rewrite my problem/complaint/disaster .

    what i ask him was very simple , it was like this this:

    i need to know the amount of money i have to own in my equity to be able to activate hedge order for any losing position.

    in a simple words:
    i have a buy position (GBP/USD) with this detail :
    number of lots: 1 standard lot (margin required = $325)
    (pip = $10)
    leverage 1:500

    now this position is lose a lot of money so i want to create hedge position for this losing deal to avoid the margin call.

    my simple question is like this:
    what is the amount i have to own in my equity to be able to activate pending hedge order ?


    but i have never feel insulting like i felt when this person reply / never reply to my question , here is a screen shot of the chat between us:

    [​IMG]

    please help me to rewrite my problem in a good , understanding English Language .

    thanx in advance
     
    #1 zx10, Jan 16, 2010
    Last edited: Aug 29, 2011
  2. cowmadagan

    cowmadagan Sergeant

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    First thing you should know, since I've been an English teacher in a very competitive market for a long time, is that your English is definitely good enough to say what you mean in a way that's clear enough for 1) English speakers to understand and 2) for your English to be accepted in court. Your only big mistake that I'm sure of is that you said, 'lose position' and it should be 'losing position.' The other one is 'equity'.

    After reading your conversation, you appear to have a broker whose English is worse than yours, or is a crook/bad person/thief/scammer/person who's dishonest. You have some problems, like you should use synonyms to explain your question if you can by using a thesaurus. I want to help you, and I'm a native English speaker from Canada, so I need you to understand that the only reason I'm answering the way I am is because I can tell that you're scared and need help, just like I've needed forex help before.

    The other things you should know is that hedging has been limited a lot recently by law.
    Even though that's true, as far as I know opening a hedging position requires the same margin (not 'equity'...'equity' to my knowledge usually is talking about stocks in a stock market) as a position that is not hedging. After my clarification (right now) if I'm wrong, I expect a senior member of FPA will correct me.

    So, if I were you, I'd ask the live help in a completely different way...it would be:
    "How much margin do I need to make a position to hedge an existing position?" and if that doesn't work, try:
    "I have a losing position in GBP/USD. I want to take an opposite position so that I can wait to see the trend. How much margin do I need to do that?"

    The last one is extremely easy for people with beginner's English to understand. Of course, don't trust me, but I think Monday and Tuesday this week will be bad for the GBP, but I really think it will rebound quickly if you have the margin to support it. After all, the pound seems to gain value for no reason at all...maybe it's because the market keeps on expecting them to print more pounds and thus make it possible to profit on the BoE weakening it. (a la JPY)
     
  3. Pharaoh

    Pharaoh Colonel

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    1:500 leverage, so that's not a US broker with hedging restrictions.

    I'll second Cowmadagan. Your English isn't polished, but is more than good enough to communicate.

    Unless you were massively over-leveraged, you would likely have enough available margin to open a hedged position, unless the company has some very odd margin requirements for hedging.
     

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