Jason Rogers
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Haven't heard about any plans for that one...
FXCM Launches Net Stop and Limit Orders on U.S. Accounts
- Thread starter FXCM-PR
- Start date
Haven't heard about any plans for that one...Wouldn't it have been easier to just have a stop/limit on each position?
Quote from cabletrader:
Wouldn't it have been easier to just have a stop/limit on each position?
With the NFA FIFO rule you are not suppose to be able to attach a stop/limit on each position anymore. If you could then it would defeat the purpose of FIFO. The NFA wants the forex market to trade like the equity mkts, futures mkt, etc...
Now you can open an account with FXCM-UK and it would be business as usual.
This is a subject which has been discussed at length around various forums.
The purpose of introducing FIFO was to stop brokers from taking advantage of customers naïvity. Up until then some brokers had allowed (even encouraged!) customers to have long and short positions open on the same pair, incorrectly referred to as 'hedging'.
Different brokers interpreted Rule 2-43(b) in different ways, one or two even went as far as saying the NFA had banned stop loss orders!!
For other brokers who had always offset positions using FIFO nothing changed, Stop Loss and Take Profit orders can still be applied to individual trades as usual.
But as always 'where there's a will there's a way'! If punters are insistent on being stupid there will always be someone willing to take advantage by offering them enough rope.
Funny. Oanda never even mentioned any rule changes.
Good thing, fifo would mess up my "double-down" strategy!:eek:
Good thing, fifo would mess up my "double-down" strategy!:eek:
Hey, are you martingaling again!
Oanda have always operated FIFO, trades are offset against existing positions on the same pair.
If you've got 100k long Eur/Usd and you Sell 20k you'll be long 80k, you've never been able to be long 100k and short 20k on the same pair, at the same time, on the same account.
Go rake some leaves.....and stop smoking your home-grown!
Ahhhhhhh.....blissful ignorance fits me well.
Got some raking planned today. I'll snap some pics.
I prefer to call it, "adding at support"
Had 3 long, closed 2, I'll close the 3rd if it breaks too far south.
Got some raking planned today. I'll snap some pics.
I prefer to call it, "adding at support"
Had 3 long, closed 2, I'll close the 3rd if it breaks too far south.
lol, we were both trading Eur/Aud last year, it's Aud/Usd this year!
I still think it's a great pair, for someone else to trade.
I think increasenow dipped his pen in it recently.