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Though I sympathize with Sandybestdog's misfortunes I would have to disagree that there is a lot to learn from the post you cite. His posts protrude more of a "everything bad happens to me and that's just the way it is" victim mentality. I could write stories of misfortune experienced by...

I agree with you, but some of the people here are talking about using the cards as loans with intent to purposely default or another words commit fraud. If they think that it is ok to do that then good luck trying to convince them they should plan ahead and take responsibility for all their...

If I am understanding this right I believe it does go to the consumer. It goes in the form of bank profits paid as a wage to an employee or as a shareholder dividend to an investor, who are both consumers. Bank interest is a mark up on the sale of money just like bread is marked up from the...

Thanks, I'll be looking into that. It's kind of a bummer that there isn't more of an active market. I have a great strategy for trading FX and because my hold times can be longer I figured the time decay of option sales would help boost the returns. I would need to at least have access to the...

I personally don't hate defaulters. If you lose your job and you can't pay the card back then shit happens but trying to weasel out of paying it because it's easier not to pay, or worse, intentionally not paying them when you can is the issue here. It's not up to me to determine who can pay or...

Your 12k default would not have an affect but the collective of people who do what you do does have an effect. If a couple people throw garbage on to the street it is not noticeable but if many people do it the streets turn to shit. Your 12k does have to come from somewhere and in the end it...

You're right it's envy. I envy all people who proudly steal thereby forcing the rest of society to pay for it. Of course Bernie Madoff is my real hero.

Openly stealing from a bank through a credit card is not the same thing as the government bailing out the banks to save the economy. Whether you think the bailout is right or wrong you do not have a right to steal (Not to mention it says a lot about your character, lol). If I make over 250k a...

I thought I checked their website but apparently not good enough. Thanks

I would like to sell options on currency futures. I don't want to trade the binaries or other spot FX products, I am looking for a real options market. There does not seem to be much information on these options so if anyone has any experience with them I would appreciate the advice. Is...

Having no integrity and cheating banks out of money is a subset of humanity now? Let's hope it is a very small subset of humanity.

Spanish89, You surprised me in this thread a bit as you seemed like an OK person and a decent trader in your other trading related thread. However your complete disregard for personal responsibility and integrity has lost that respect. Just because a law doesn't make it illegal to do what...

I didn't say it was your capital requirement. You wrote, "15K a day over 200 trading days equals 300K per year", this is not true. 15k a day over 200 trading days equals $3,000,000 per year. It would only take 20 days to make 300k at 15k per day. Your other figures are off by a zero also...

It's not 300k. It's $3,000,000 per 200 days a year.

I think you are missing one important fact here. There ISN'T an equal amount of buyers and sellers, however, there IS an equal amount of buying and selling volume. That is the difference. There may be one big institution buying or selling to 1000's of smaller traders. That is how there can...

Mind your own business. If he wants to post a comment regarding the market it's his business and this is surely the site for it. If you don't like it stop reading and go visit your own family. With that said I'm feeling an up day but this type of prediction is not my style so I will just...

Cstfx summed it up pretty well. The only thing I would add is that for begginers a dealing desk FCM is probably better. With ECN's, at least the Interactive Brokers FX ECN, it is a lot more complicated to compute margin requirements, pip cost, and overall position value in base currency. I am...

Well stated. This is the problem with the politicians here, they don't realize that we (the smaller traders) keep the big firms in check and create a more efficient market for everyone. Without us nipping at their heels and over bidding them these market makers would have a field day! Maybe I...

I just want to make a comment about whether the politicians are serious about this or not. I believe some of them are very serious about it and others are just listening. It is more then likely not going to be in the 700b bail out bill. But from what I've heard and read it will be brought up...

I vote Democrat most of the time. I have always felt that a middle ground between Republican and Democrat fiscal and economic policy is the best. I don't mind paying more income tax under a dem administration but this trans tax is clearly bad for traders (me) and the markets. If the...