I'm honest with a very simple mistake and am not ashamed to admit it, but I won't make the same mistake twice. You obviously are overlooking something and trying to blame it on FXCM, a common tactic by newbies. I think you are "crazy" instead of FXCM being "crooked".
Am I crazy or is FXCM crooked?
- Thread starter cking74
- Start date
I'm honest with a very simple mistake and am not ashamed to admit it, but I won't make the same mistake twice. You obviously are overlooking something and trying to blame it on FXCM, a common tactic by newbies. I think you are "crazy" instead of FXCM being "crooked".
You are a complete idiot.
1. The title of the thread is a joke.
2. I thought maybe I was missing something, which is why I started the thread.
3. Rather than provide any useful information, all you have done is take up a lot of space with inane comments and incorrect information.
Please tell me you are making a profit trading fx, cause if a fool like you can do it for even one day, I know I will be able to do it for the rest of my life.
I don't get it
. When will you be delivering the punch line?So what is the point of your "joke" thread?
90% of your traded are winners? really?
Basically this is an anti FXCM thread and you are not interested in finding any answers to why your "trade" got activated. You just want to slam FXCM.
Do you even have an account with FXCM besides your demo account?
Anti-FXCM thread? Not quite. ALL serious FX spot traders know that you do not use a "bucket-shop" if you want to suceed. BY bucket shop, I mean the kind described in the book "Reminiscence of a Stock operator." Companies who derive their profit by means which while legal are hardly ethical.
It makes absolutely no sense to trade to do business with a setup which is in conflict with your interests. That is what a "bucket shop" or FX market maker is. And this is what they do. They have complete power over your profitability and loss. And they can and do exercise it at will and whim so long as it is in keeping with THEIR interests. Which, consequently, rarely is in keeping with yours.
Now, of course you could say that an ECN style broker, one who provides STP(straight through processing) of your Spot transaction for a fee, and does not therefore trade against you, is only one layer removed from a market maker. And this is true. Except that they use many market makers. Now the market makers (banks, etc, term as liquidity providers) must compete with each other for your transactions. This is turn keeps spreads tight and as orderly as possible under far more conditions than dealing directly with only one market maker ("bucket shop"). The conflict of interest is far removed but not eliminated altogether.
I commend the thread starter for realizing something is amiss instead of taking the road to denial. He/She has the makings of a sucessful trader. I wish this person well.
Thanks to everyone for the constructive comments. I have to admit my embrassment to find out that I have not been buying and selling actual positions but have only been bidding against fxcm.
Upon calling fxcm and complaining they have offered a service called Prop FX. Which they claim actually allows me to enter real positions directly with the interbanks. Anyone have experience with this?
Upon calling fxcm and complaining they have offered a service called Prop FX. Which they claim actually allows me to enter real positions directly with the interbanks. Anyone have experience with this?