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At the risk of becoming a tutor (unpaid, I'll add), the NFA is a trade association, or if you prefer a self-regulatory body, with no enforcement power or authority. It has member guidelines and, presumably, a code of conduct. How that does that help any customer get his money? The CFTC does...

Registered with whom? for what? There's no regulation of spot forex trading, period, and ESPECIALLY of the outfits that cater to small-timers and novices. Check whatever you want and wherever you'd like, and that answer never changes. I'll add, what rules? There aren't any.

Didn't you hear? your dough is in that vault.

Nothing grey about it: there is NO regulation.

Slow on the uptake today, I guess, my irony meter running quite a bit behind (like Refco's receivables). Yes, you're obviously dead-on.

inet, I am not a RefcoFX customer, but I am reliably informed by another poster that your money is secure in a vault. Piles of your cash and others' are there undisturbed, with a single key in the pocket of security director Mr. Fastow. Don't worry. Trust him.

"Trust us"? I don't have an account with RefcoFX or any other fx dealer. Just now, as before, that looks like a pretty good policy.

I just strolled to RefcoFX's website and read lovely, reassuring language under heading "Complete Safety of Funds." Kinda like "dealable" quotes, "instantly tradeable" prices, "no dealing desk," "no slippage," and other such soothing messages from these fx retailers. It's all so shocking that...

Just when you thought these fx dealers would stop spreading the love.

Kinda like "heads I win, tails you lose."

Your theory very clearly is better than mine at the moment.

Yen seemingly in no-win situation: if US economy hot enough to warrant more hawkishness by US Fed Reserve (the FOMC), then Yen suffers from carry preference for USD's higher interest rates. If US economy not as hot as expected, as true of Friday's inflation and consumer sentiment data, then Yen...

I believe it's a marketing pitch for a fx dealer. Site states: "You've got to be in it to win it so you have to sign up. You need to open a demo account so you can practice. You need to open a Forex trading account You need at least 10 trades within the 30-day contest."

I believe I know why in relation to Yen: "Fundamentals for dollar exhausted, USD a highwire act at this price, 50 pips or so above 114 spot. Nikkei 225 has resumed march up, which will continue." That's my post from last week, prior to the cooler-than-expected inflation and sentiment data on...

Yes, agreed. I realize this proposition was posted some time ago, but I just now gathered its meaning. Slow on the uptake.

"Spot fx has some secret guaranteed return system unavailable or heretofore undiscovered by those trading futures. The only catch is that it apparently doesn't seem to work with one's own capital." The above quote ("some secret guaranteed return system) is by a veteran of the board, from an...

50 ticks above water now for averaged in Yen long, above, after drawdown of about that same magnitude (-44 ticks). If/when price pierces ._8900, trailing stop to be set at entry (avg in 8795). Waiting for 300 ticks.

It's alive! I thought you'd quit, Nick DeJour. Too much snacking burritos and candy bars while on your fx game account won't help that diet. You should stick with your decision.

Mtzianos, Agree especially with your assessment of white-hot, filament-fragile derivatives positions in forex. Cash that is 1 % of 8 % of 15 % which then buys and sells on even further percentages causes some inexplicable price action. That's why actual cash in equities (Nikkei), which is...

I'm betting your right (by about two minutes according to time stamp on posts), parenthetical omitted.