Are you from FCMX why do you need to multicast this question in several forums 
http://www.elitetrader.com/vb/showthread.php?s=&threadid=30914
http://www.elitetrader.com/vb/showthread.php?s=&threadid=30914
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Daytrading Currencies Explodes
- Thread starter TradeOff
- Start date
Daytrading in general, (although still difficult from a psychological perspective), is easier when intraday moves are larger.
With the US dollar tanking, there have been some seriously large intraday moves in currencies.
Like everything else, soon enough this market will change and the true traders will adjust accordingly and the pikers will lose their shirts.
Till then Pike away.
With the US dollar tanking, there have been some seriously large intraday moves in currencies.
Like everything else, soon enough this market will change and the true traders will adjust accordingly and the pikers will lose their shirts.
Till then Pike away.
Who are the pikers?Quote from GSCO:
Daytrading in general, (although still difficult from a psychological perspective), is easier when intraday moves are larger.
With the US dollar tanking, there have been some seriously large intraday moves in currencies.
Like everything else, soon enough this market will change and the true traders will adjust accordingly and the pikers will lose their shirts.
Till then Pike away.
And, how will the moves change?
TO
http://quote.bloomberg.com/apps/news?pid=10000103&sid=aQDUT7oXSk2s&refer=us
This just goes to show that the forex industry is being more heavily regulated now (since December 2003) making it a safer place for self-directed traders to trade forex.
___
Five Currency Traders Plead Guilty in Foreign Exchange Case
March 22 (Bloomberg) -- Five former currency traders admitted they defrauded investors out of $6.8 million, the first guilty pleas in a government probe of the $1.2 trillion-a-day foreign exchange market, prosecutors said.
The five are all former officers of Walter, Scott, Lev & Associates, a now-defunct foreign currency ``boiler room,'' interim U.S. Attorney David Kelley in Manhattan said. They admitted using money from investors to pay their own credit card bills and the firm's expenses.
``WSL operated as a classic boiler room, in which WSL sales brokers used high pressure sales tactics to induce potential clients to invest in the forex market,'' Kelley said. Of $21 million entrusted to the firm from late 1998 to early 2002, about $6.8 million was ``simply stolen,'' he said.
The guilty pleas are the first stemming from an 18-month undercover probe federal investigators dubbed Operation Wooden Nickel. Forty-seven defendants were arrested in November, including traders at J.P. Morgan Chase & Co., UBS AG and other Wall Street firms.
As part of the undercover operation, agents infiltrated another alleged boiler room in the World Financial Center in New York. The agents captured hundreds of hours of video and audio recordings of defendants allegedly scheming to deceive unsuspecting customers and steal millions of dollars, prosecutors said.
The five who pleaded guilty to conspiracy and mail fraud were scheduled to go to trial in two weeks. They are Michael Ross, 31; Maxim Yampolsky, 28; Michael Korobov, 28; Edward Sapienza, 30; and Frank Schavone, 39. Schavone lives in Queens, New York. The others reside in Manhattan.
___
It should be noted here that the ones who lost their money are not self-directed daytraders. They simply are the fat cats who gave their money over to guys to manage for them.
And I would imagine that that type stuff doesn't only apply to forex.
Regards,
to
This just goes to show that the forex industry is being more heavily regulated now (since December 2003) making it a safer place for self-directed traders to trade forex.
___
Five Currency Traders Plead Guilty in Foreign Exchange Case
March 22 (Bloomberg) -- Five former currency traders admitted they defrauded investors out of $6.8 million, the first guilty pleas in a government probe of the $1.2 trillion-a-day foreign exchange market, prosecutors said.
The five are all former officers of Walter, Scott, Lev & Associates, a now-defunct foreign currency ``boiler room,'' interim U.S. Attorney David Kelley in Manhattan said. They admitted using money from investors to pay their own credit card bills and the firm's expenses.
``WSL operated as a classic boiler room, in which WSL sales brokers used high pressure sales tactics to induce potential clients to invest in the forex market,'' Kelley said. Of $21 million entrusted to the firm from late 1998 to early 2002, about $6.8 million was ``simply stolen,'' he said.
The guilty pleas are the first stemming from an 18-month undercover probe federal investigators dubbed Operation Wooden Nickel. Forty-seven defendants were arrested in November, including traders at J.P. Morgan Chase & Co., UBS AG and other Wall Street firms.
As part of the undercover operation, agents infiltrated another alleged boiler room in the World Financial Center in New York. The agents captured hundreds of hours of video and audio recordings of defendants allegedly scheming to deceive unsuspecting customers and steal millions of dollars, prosecutors said.
The five who pleaded guilty to conspiracy and mail fraud were scheduled to go to trial in two weeks. They are Michael Ross, 31; Maxim Yampolsky, 28; Michael Korobov, 28; Edward Sapienza, 30; and Frank Schavone, 39. Schavone lives in Queens, New York. The others reside in Manhattan.
___
It should be noted here that the ones who lost their money are not self-directed daytraders. They simply are the fat cats who gave their money over to guys to manage for them.
And I would imagine that that type stuff doesn't only apply to forex.
Regards,
to
It's more about chosing the lesser evil. About having some "edge", however small it may be.
In the currency "game", there barely is any for the average little guy after he's done paying the spread.
Also, in the scheme of things at least trading in stocks contributes to investment in enterprises and adds liquidity for investors.
In currencies, the same "trading" adds no value to anything. It's another racket for brokers to milk.
In the currency "game", there barely is any for the average little guy after he's done paying the spread.
Also, in the scheme of things at least trading in stocks contributes to investment in enterprises and adds liquidity for investors.
In currencies, the same "trading" adds no value to anything. It's another racket for brokers to milk.
Quote from jrs3:
If you like Upgrades, Downgrades, Coverage Initiated, Coverage Resumed, Coverage Reiterated, Coverage Dropped. Then you wont like currency trading.