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In the UK it would not be lawful.

Just say you want the aussie position closed and walk away. On no account give him another cent to manage. Anyone can lose money - that happens. But no pro trader should lose more than a max of 2% (at a stretch 5%) in a day.

If it was in the UK you would have 2 reasons to sue. - If the individual was not licensed by the FSA to trade you would have recourse via the trader and the broker - also even if he was licensed it is unlikely that your account should have been accepted. Usually only intermediate customers...

Agreed, that is why I said, sound familiar! Not say it will happen but sure looks similar. You know who caused it last time - Soros liquidating yen positions after LTCM collpased. This time of year as well. And the IMM is huge long dollars, short yen

In 1997 the yen fell 20 big figures in about 24 hours due to unwinding of carry trades. Sound familiar? ( It wasn't techincally a gap but it sure was illiquid.) Also in 1992 sterling gapped about 10 big figures on a Thursday night when it devalued.

That is fair enough and can't argue with that. What I find strange is when people inply anyone not using futures is in some way stupid.

I ping the ECNs regularly to check speed and even from a different continent the times are around 70ms per round trip. ie less than a tenth of one second Not that it matters but currenex for example in normal hours tends to have 300 million on the bid and the offer within a pip of the regular...

To be fair free charts or any bells is no reason to choose another source of pricing. I trade where prices and liquidity is best and that isnt globex. If I need extras I pay for them.

Not sure i am classified as retail but whatever. I use mainly currenex, lava, hotspot and baxter. The liquidity is infinitely superior to globex -which I have via TT but hardly use.

Absolute rubbish, I am afraid.

I currently use 4 ECNs, Currenex, lava, hotspot i and baxter . The first 3 certainly let you add liquidity to the market and put in your own bids and offers etc. It is early days with Baxter so cant really comment on them - so far I have been restricitng my trades with them to just 1-2 million a...

Couple of observations from my experience with ECNs. Around figure time all bids and offers can be pulled regardless of the direction of the figure. The banks cant know (usually!) which way the figure will be so for a very short period of time they pull both. Hence if you have a stop pretty...

As I pointed out there were lots of spoof prices on euro dollar at the time. It was exceptionally volatile. Is it possible that your chart only shows say mid prices and that cable went 10-15 pips wide and therefore the stop was rightly triggered.

Who was the feed from as I would be interested in a multi ECN feed? There were loads of spoof real prices at that time, to be fair. I wasn't watching cable but was watching euro dollar. At the time the release was due euro jumped 15 ticks although the figure had not been released on reuters...

In this example aren't you letting emotion cloud a trade? I believe you should trade the set up not your current P/L.

Cable but for opposite reason to you! When it moves it sure knows how to move intra day, for the reason that the volume and liquidity is far less than that for euro doll and dollar yen.

click run and type cmd then write ping fxtrades-ssl.currenex.net

Currenex are very hot on what they regard as predatory clients.

I have currenex and it didnt go down today. Surely yesterday is a classic example why you must have more than one outlet.

I think currenex is great then lava and i do regard hotspot as useless for some reason. However 2cents (whose view I rate) thinks hotspot the best so maybe i just have some in built prejudice!