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hehe, Quah, you sound pretty jaded. But I'll be glad to answer your question in a very practical way. What prevents them from having a price spike and getting away with it is that the word would get out and they would lose all of their customers. More importantly, if they engaged in out...

:p I guess I was steamrolled through the refund process and happy enough that I got my money back that I didn't think about asking WHY. I'm going to sound standoffish when I say this, but I honestly don't care or want to listen to his story. Knowing the reason behind the price spike does...

OddTrader, Personally, I trade off the Metatrader charts and watch the Refco Bid/Ask prices. Because FX is decentralized and each broker is allowed to set their own prices based on the InterBank market prices, I allow up to 3 pips of wiggle room. I do not trade live using 3 charts with...

Saschabr, The position was 1 mini lot or $10,000. In real money terms, it was a P/L difference of $35 + $25 = $60. The $35 is the money recovered from my stop loss, and the $25 was the amount of pips I was in the money from my original entry. You might be right that they would be...

I live in BC and this summer we had the worst forest fires on record. Now I hear about huge wild fires in Cali. All the while, I saw the ineffectiveness of water bombers and smoke jumpers and thought to myself, there has to be a better way to fight fires. So, going back to main science...

Yes, exactly. I take the 35 pip loss but I currently have an open position that is 35 pips more than if the stop was never hit. Hopefully they would correct such a trade no matter what size traded.

Hi all, I was all set to write a nasty message condemning Refco for running a stop, but it turns out that I'm praising their customer service and quickness in dealing with the matter. Problem was: Price spike down on the EURJPY at 04:40EST to a low of 125.83 hitting my stop at 125.90 from...

Does anyone know how you pronounce the following pairs? I'm new to FX and I only picked up a couple proper names for the currency pairs like EURGBP is called "cable". Can someone please tell me what's the proper name for: EURUSD USDJPY GBPUSD USDCAD EURJPY EURGBP AUDUSD NZDUSD...

I gotta admit that the writer, director, and actor (Ben Affleck) did a superb job with his monologues. I usually skip to them on the DVD when I'm seeking inspiration. LOL! Rude and crude, but boy does it make an impression. DNAJ65000

I have an old Datek Account that I opened back in 1997 that is now an Ameritrade Canada account. I don't think these guys are on the ball because apparently, I'm still an Ameritrade Elite member when I haven't fulfilled the min trade requirements for the past 6 months. I've been sent 2 letters...

I'm happy for you. But what's the point of posting a message with that kind of tone? Sounds like you're trolling.

Hi Slim, Could you please profile a winning trader with respect to: 1) Psychology 2) Account characteristics I know this is a pretty broad question because I'd like to hear what aspect you key in on as important information. However, I'd like to draw you towards a few specific things...

I saw this in my newspaper a few weeks ago. The Russian words translate to "how money is made" and the picture clearly shows that money is made by f***ing the dollar.

I have been net negative during my 6 year trading career. I can tell you that the reason why I am overall down is because I book many small profits and let a couple of big losses run. Usually those big losses take out 30% of my capital before I finally capitulate. Now I set a hard stop as...

Thanks for the info. I consider myself a conservative trader so I will be only trading 1 mini lot on EURUSD. As for the comment about my risk is not limited to my account size, I believe my FX broker (Refco) does guarantee stops and in the case that I fall below margin requirements, I will be...

I was initially attracted to the high leverage because it would only cost me $50 per mini lot. So by keeping my account really small (close to the minimum of around $300-$500) I could learn to trade the FX market without much risk. However, if the FX broker now requires me to put up $200 per...

I heard that starting December 1, 2003 the NFA is going to limit all FX traders to put up 2% margin or 50:1 leverage. I didn't believe it at first and so I searched the net and found this link from the NFA site detailing it: http://www.nfa.futures.org/compliance/forexInterpNotice.asp I...

Hi, I'm new to FX as well. I traded FXCM's demo mini account for the past 30 days and found it to be okay. I plan on opening a mini account with Refco (FXCM's parent company) within 2 weeks from now. Their mini account has 5 pip spreads on the majors which isn't the best out there but I'm...

SUPat: It is a spread and not a commission. Your cost is only the spread itself. There is no commission charge for getting in or out. An analogy could be drawn to stocks: bid is 30.45 ask is 30.50 If you bought the stock by hitting the ask at 30.50 and got the shares, and you...

Sourced from the Canada Tax Tips website. The tax rate is the MARGINAL rate. Here's an example of how it works (rounding off numbers and brackets) You make $100,000CAD at the end of the year. 0-32,000 @ 25% = 8,000 32,000-64000 @ 33% = 10,560 64,000-100,000 @ 40% = 14,400 Add them...