PIPnator:


If Alpari could go into admin, i wonder what would be of fxpro. They are almost the same. At moment, all CHF pairs are suspended. I wonder why being that they operate an "agency model".

#Anyways, ears to the ground, no one needs such depression.

#will be checking their twitter feeds for clues.

Maybe you should move your money first or part of it for the first 2 weeks, then re-fund after the noise settles.

^
Well said n perfectly understood and not different from what i understand about the way things work

The issue is the negative balance dear....Brokers r not suppose to allow that to happen. Go through my posts above to get my side of d story.
I suspect that those brokers that are free are not having many CHF positions or one unknown helped dem.

....... As a result – as Alpari put it in a statement – “This has
resulted in the majority of clients sustaining losses
which has exceeded their account equity. Where a
client cannot cover this loss, it is passed on to us.” The
extent of the losses has rendered Alpari insolvent.

natruetalk:


bit risk to buy in my opinion

i have closed all my BUY when i saw d move failed to move above 52.00 levels but retrace back below 50.3x zone with d next candle held below d zone with very engulfed candle. that sign not good for the buyer.

will be playing up/down as d case may be until 44.3x zone cleared for next target of 41

let c hw d day close in few minute

back to my leave

am taken my risk from here

just sold oil @ 47.49 with 100pips SL

will be looking to jump out if 55pips goes against me from here

note: MARCH CONTRACT

natruetalk:


am taken my risk from here

just sold oil @ 47.49 with 100pips SL

will be looking to jump out if 55pips goes against me from here

note: MARCH CONTRACT

trade closed -52pips

natruetalk:


trade closed -52pips

on d sideline looking to join d winning side on d break of last 4hrs high

natruetalk:


on d sideline looking to join d winning side on d break of last 4hrs high

just sold again @ 47.78 Sl 48.78

fingers crossed

natruetalk:


just sold again @ 47.78 Sl 48.78

fingers crossed

it closed me out @ BE after +40pips

it reali want to go up higher

i have always suspected ALPARI UK of being a useless Bucket shop; breeze don blow, fowl nyash don open.

FOR THE NEWBIES:

What a week. I hope you were able to wade, through the shark infested waters we call forex. I was amazed at some of the comments, on FTA, and forex factory as well, concerning this Swiss thingy. I was thoroughly insulted on forex factory. My only offence was posing a very simple question; how in Gods name would the change in the Swiss financial policy have affected you if you had used a stop loss and applied proper, responsible money management? This is assuming your broker did not go belly up. A lot of people got butt hurt because i asked this question. I was in awe of the number of traders lamenting over their losses. Then i thought to myself, i was in a usdchf trade. How come i am not shaken? why? Because i used a stop loss. I lost exactly 80 pips which accounted for 3 percent of my account. No sweat. See why i have been harping on money management? One had the nerve to say SL are for losers. I closed the page at that point. Anyway, I never listen to news. I know from history that chf pairs can be very volatile at times, so when it happened i thought it was business as usual. As new traders, stay away from news. It has nothing to do with your success as a trader. Consistency, discipline and money management is what makes you successful in this game. When you dwell on news, is same as analyzing and predicting price. It assuredly will not end well. I just wanted to throw this out there. For all those that i have yet to reply their mails, i will this weekend. Good luck.

12ema:
FOR THE NEWBIES:

What a week. I hope you were able to wade, through the shark infested waters we call forex. I was amazed at some of the comments, on FTA, and forex factory as well, concerning this Swiss thingy. I was thoroughly insulted on forex factory. My only offence was posing a very simple question; how in Gods name would the change in the Swiss financial policy have affected you if you had used a stop loss and applied proper, responsible money management? This is assuming your broker did not go belly up. A lot of people got butt hurt because i asked this question. I was in awe of the number of traders lamenting over their losses. Then i thought to myself, i was in a usdchf trade. How come i am not shaken? why? Because i used a stop loss. I lost exactly 80 pips which accounted for 3 percent of my account. No sweat. See why i have been harping on money management? One had the nerve to say SL are for losers. I closed the page at that point. Anyway, I never listen to news. I know from history that chf pairs can be very volatile at times, so when it happened i thought it was business as usual. As new traders, stay away from news. It has nothing to do with your success as a trader. Consistency, discipline and money management is what makes you successful in this game. When you dwell on news, is same as analyzing and predicting price. It assuredly will not end well. I just wanted to throw this out there. For all those that i have yet to reply their mails, i will this weekend. Good luck.

people always tend to forget the FX golded- never trade what you cannot afford to lose......... more pips to your account bro

L2CD766:

people always tend to forget the FX golded- never trade what you cannot afford to lose......... more pips to your account bro

Agreed

i cant help but just laugh as the yansh of this broker dey just dey open...
make we just dey watch....

How you all doing...

naijababe:
Oga natruetalk, where you dey now?

Please come back home o. My last conversation with you where we shared some ideas and i had a light bulb moment as regards trading against my gut. I said when my chart says one thing and my gut says otherwise, I'd take a position based on the chart but use half or a third of my normal stake. You said that was a brilliant suggestion and I should try that and also that I had to learn to deal with this conflict as it is something that most likely will never go away.

Thanks for listening o. It is paying wonderful dividends.

@ adeyinkabashir, I hope you followed the money, 200 pips in less than an hour .

Ayox2003, I see you o. Happy New Year, person no dey see your brake light again sef

NB, I'm ds sorry. More hurting is that I forgot my YIM password.

How can we fix it and fix us


Frawzey

12ema I hail you! I can't just believe why someone will long or short a trade without adding SL and even TP, those traders needs to be flogged!

More power to your elbow!

ayox2003:






NB, I'm ds sorry. More hurting is that I forgot my YIM password.

How can we fix it and fix us


Frawzey

PM me jare!

12ema:
FOR THE NEWBIES:

What a week. I hope you were able to wade, through the shark infested waters we call forex. I was amazed at some of the comments, on FTA, and forex factory as well, concerning this Swiss thingy. I was thoroughly insulted on forex factory. My only offence was posing a very simple question; how in Gods name would the change in the Swiss financial policy have affected you if you had used a stop loss and applied proper, responsible money management? This is assuming your broker did not go belly up. A lot of people got butt hurt because i asked this question. I was in awe of the number of traders lamenting over their losses. Then i thought to myself, i was in a usdchf trade. How come i am not shaken? why? Because i used a stop loss. I lost exactly 80 pips which accounted for 3 percent of my account. No sweat. See why i have been harping on money management? One had the nerve to say SL are for losers. I closed the page at that point. Anyway, I never listen to news. I know from history that chf pairs can be very volatile at times, so when it happened i thought it was business as usual. As new traders, stay away from news. It has nothing to do with your success as a trader. Consistency, discipline and money management is what makes you successful in this game. When you dwell on news, is same as analyzing and predicting price. It assuredly will not end well. I just wanted to throw this out there. For all those that i have yet to reply their mails, i will this weekend. Good luck.

You are lucky your stop was triggered. Usually in these situations, it is like the bottom of a bucket falling out, and with massive selling, the stops do not hold. Do you know how a stop loss works? A stop loss is triggered when the broker is able to match your order to sell as a particular price to another trader who wants to buy at that same price. It happens in milliseconds.

If there is side volatility as occurred yesterday, there are usually no buyers for the pairs at the stop loss level and the trade/account will keep on going negative until trading is frozen altogether. Many traders accounts on FXCM and Alpari are now in the negative, meaning that they owe the broker. Don't forget that in forex, brokers are the ones that will absorb these losses because it is their share of the capital (the leverage) that is at risk here.

Going forward, I believe we will see some major changes to the leverage rules, the way it has occurred in the US (where maximum leverage allowed is 50:1) and Canada (where leverage is pegged at a maximum at 18:1). This means that very soon, anyone without as much as $100,000 raw cash will be unable to trade forex. This is the only way brokers will protect themselves.

So traders beware! Understand the market and how it works and don't come here boasting about your stop loss setting prowess. God simply saved you.

i see many brokers closing


time to seperate bucketbshops.from real.men

I also need to say that Dukascopy had foreseen this scenario last year and implemented a leverage of 10:1 for CHF positions in October 2014. So any losses sustained by excess slippage will be borne by traders and not the broker. FXCM and co that got burnt are those who allow leverage of up to 500:1.

Meanwhile, FXCM has been given $300m by Leucedia to continue operations. A timely bailout has saved the company.

My final take is that many brokers claiming to be unaffected are hiding the true state of their accounts. It is like trying to prevent a run on a bank when a rumor of collapse hits the banking sector. Many of these brokers claiming to be sound, solvent or materially unaffected, will probably start re-balancing accounts as from next week.

I will not be surprised if restrictions on withdrawals, readjustment of client's accounts (which Saxo Bank has announced) and other measures become the order of the day. Now the boys will be separated from the men.

Dear Client,

Following the Swiss National Bank’s decision yesterday to remove the Swiss Franc cap and the subsequent spike in volatility, the market experienced a period of extreme lack of liquidity for trading in CHF pairs. This led to significant losses for many market participants.

We would like to reassure you that HotForex is operating as normal, and was not affected in any material way.Our strict Risk Management procedures minimized the impact of this event.

Furthermore, we have stayed true to our motto of Honesty, Openness and Transparency. As testament to our commitment to fairness, all negative account balances have been reset to zero and any clients that bought CHF have been paid in full.

We are very proud of our reputation in the market and we are confident that after this event our reputation will grow even stronger. We would also like to take this opportunity to thank all of our clients and partners for their continued loyalty and we are looking forward to a strong 2015.

As a last note, please exercise extreme caution if entering the markets today as the volatility seems to be set to continue

If you have any questions please do not hesitate to contact our dedicated customer support team via myHotForex, live chat, or by telephone on +44 2033185978.

Kind Regards

Leucadia Gives FXCM A $300M Hand
January 16, 2015 142

It has just been reported within the hour that FXCM has received a new lease from Leucadia National, an American holding company often engaged in mining, drilling, telecommunications, healthcare, manufacturing, banking services, real estate and winery through its various subsidiaries.

The massive $300M bailout comes after the SNB's decision to drop their 3 year old defence of the Euro at 1.20 levels, and is in exchange for $250M in 2 year senior secured notes with a 10% coupon, meaning if FXCM gets sold Leucadia will receive 75% of proceeds (Which means for Leucadia to break even FXCM would have to be sold for at least $400M, though on Thursday's close it was worth $600M so not unrealistic).

In regards to the announcement FXCM's CEO Drew Niv said, "Leucadia's support and this financing are by far the best alternative for FXCM, our customers, our shareholders, and all other relevant constituencies."

stagger:


You are lucky your stop was triggered. Usually in these situations, it is like the bottom of a bucket falling out, and with massive selling, the stops do not hold. Do you know how a stop loss works? A stop loss is triggered when the broker is able to match your order to sell as a particular price to another trader who wants to buy at that same price. It happens in milliseconds.

If there is side volatility as occurred yesterday, there are usually no buyers for the pairs at the stop loss level and the trade/account will keep on going negative until trading is frozen altogether. Many traders accounts on FXCM and Alpari are now in the negative, meaning that they owe the broker. Don't forget that in forex, brokers are the ones that will absorb these losses because it is their share of the capital (the leverage) that is at risk here.

Going forward, I believe we will see some major changes to the leverage rules, the way it has occurred in the US (where maximum leverage allowed is 50:1) and Canada (where leverage is pegged at a maximum at 18:1). This means that very soon, anyone without as much as $100,000 raw cash will be unable to trade forex. This is the only way brokers will protect themselves.

So traders beware! Understand the market and how it works and don't come here boasting about your stop loss setting prowess. God simply saved you.

Basically, what you are saying is i did the right thing and came out unscathed. Thank you. I hope you understood my post in it's entirety. I vividly remember saying " This is assuming your broker did not go belly up ". Meaning if it did, then there was nothing anyone could have done about it. well, actually there was. Offering and using leverages of 500:1 is the root cause of a lot of these brokers and traders demise in this case. Serves them right. Greedy pricks. Experienced trader who have been stressing on minimal risks know what they are talking about. My initial post on this matter was directed to the traders whose brokers were not affected but still did not use sound money management. There were a lot of them. And what makes you think i was not affected? Alpari is one of my brokers but i am not too worried. I don't have to wash my dirty loins in public. Even though i was not in a trade on Alpai's platform at the time, a portion of my funds are tied down at present, but as a trader i don't let emotions ruin my mojo. Eventually i will do the dance of submitting a claim to the fscs to get my funds back since they are mandated to segregate retail client funds. This is a business, and as with any business one can take significant hits on occasion. Thank God i have more than one account. You call it boasting. I call it experience. Have a good day.

Greetings to the house!

Guys, I just need to make a shortlist of possible brokers to transfer my trading with since, for obvious reasons, I can no longer be with my one and only broker for the last 6 years - Alpari (UK).

Please, to all those more experienced traders here, can you help narrow my search down to the best you know.

Alpari (UK) was almost everything I'd ever need in a broker. I just need an equal - or if possible, an even better - broker to continue my FX trading with.

Thanks in advance!

baddiguy:
Greetings to the house!

Guys, I just need to make a shortlist of possible brokers to transfer my trading with since, for obvious reasons, I can no longer be with my one and only broker for the last 6 years - Alpari (UK).

Please, to all those more experienced traders here, can you help narrow my search down to the best you know.

Alpari (UK) was almost everything I'd ever need in a broker. I just need an equal - or if possible, an even better - broker to continue my FX trading with.

Thanks in advance!

DUKASCOPY- SAFE FUNDS, OK SPREAD, BEST ECN Available, Smooth NDD; but very hard to open, but you wont regret it.
XM is also reputable.

Toks2008:
Good morning friends and happy new year once again.

My candid advice to you all is to look inward this year and ask yourself if this business is really worth the stress of baby sitting? if manually trading this business has paid off for you in the past years.

Let us reason together and be wise. This business is very difficult to trade manually and as someone who is deeply rooted in this business,i have many friends who have lost millions not because they don't know what they are doing bu because there is always every tendency to become careless somewhere along the way hence fall victim of their own indiscipline.

In view of this i will advise everyone trading fx to develop a manual trading method that is dependable and can be trusted to yield profit in the long run and develop it into an auto system and forget manually trading the system because they are likely going to fall victim of their own carelessness over and over and over again thereby losing their earned money as well as those they promised to manage funds for.

Many people have come to me to help them build account that no magic can build except patience yet how can you patiently build an account of 200usd,500usd manually without wiping it off as a result of same emotional Topsy turfy that is endemic with fx traders.

Please be wise and understand that automation is the way forward in this business, at least for 95% of traders who are bound to lose and quit along the way due to greed and fear as well as other crazy factors.

I have been working on an auto system which is a manual method i developed and over the years i have also faced same problem of indiscipline even after developing the auto system by unduly interfering with the auto activity and this has resulted to inability to allow the system trade as designed.

But the good news is that ever since i allowed someone else take charge of the access to the auto servers even i have been impressed with the result of the systems and even when i know that there will always be losing months as well as profitable months, i have been very optimistic that at last i can be free from babysitting trades as well as wasting precious time trading fx manually which usually yields nothing but losses.

There are basically 3 settings used to suit the risk appetite of different traders.

1.I have one that uses crazy huge exposure of 155 daily and this is the highest setting i can give to anyone and this has the capability to generate 20/30% average profit monthly but not without a losing month also but usually have a long term profit result.

https://www.myfxbook.com/portfolio/joker-entry-20pips-lock-intraday/1078500

2.I also have a setting that uses 10% maximum daily risk exposure and this can generate between 10/20% average monthly profit all 100% automated trading.

https://www.myfxbook.com/portfolio/100-auto-20pips-lock-inrtraday/1091169

3.And finally a conservative setting that can generate 5/10% average monthly profit

https://www.myfxbook.com/portfolio/100-auto-20pips-lock-inrtraday/1091176

All have same trade settings,same number of daily positions opened.

This is my very own manual method put in automated form and can be used by any trader to trade profitably while you go about your life,do other profitable businesses and be free from the bondage of wasting your precious time,energy,money trading fx manually.And remember that you can also develop yours too

The most important thing is to make profit and that is what counts.

I wish you all a pips-full year ahead.

Pls how can I get started with it?
Dont ignore this request pls

12ema:
FOR THE NEWBIES:

What a week. I hope you were able to wade, through the shark infested waters we call forex. I was amazed at some of the comments, on FTA, and forex factory as well, concerning this Swiss thingy. I was thoroughly insulted on forex factory. My only offence was posing a very simple question; how in Gods name would the change in the Swiss financial policy have affected you if you had used a stop loss and applied proper, responsible money management? This is assuming your broker did not go belly up. A lot of people got butt hurt because i asked this question. I was in awe of the number of traders lamenting over their losses. Then i thought to myself, i was in a usdchf trade. How come i am not shaken? why? Because i used a stop loss. I lost exactly 80 pips which accounted for 3 percent of my account. No sweat. See why i have been harping on money management? One had the nerve to say SL are for losers. I closed the page at that point. Anyway, I never listen to news. I know from history that chf pairs can be very volatile at times, so when it happened i thought it was business as usual. As new traders, stay away from news. It has nothing to do with your success as a trader. Consistency, discipline and money management is what makes you successful in this game. When you dwell on news, is same as analyzing and predicting price. It assuredly will not end well. I just wanted to throw this out there. For all those that i have yet to reply their mails, i will this weekend. Good luck.

Thanks for this report u mension that for being Price Action trader should stay away from news do you think news does have effect on price action?

12ema:
FOR THE NEWBIES:

What a week. I hope you were able to wade, through the shark infested waters we call forex. I was amazed at some of the comments, on FTA, and forex factory as well, concerning this Swiss thingy. I was thoroughly insulted on forex factory. My only offence was posing a very simple question; how in Gods name would the change in the Swiss financial policy have affected you if you had used a stop loss and applied proper, responsible money management? This is assuming your broker did not go belly up. A lot of people got butt hurt because i asked this question. I was in awe of the number of traders lamenting over their losses. Then i thought to myself, i was in a usdchf trade. How come i am not shaken? why? Because i used a stop loss. I lost exactly 80 pips which accounted for 3 percent of my account. No sweat. See why i have been harping on money management? One had the nerve to say SL are for losers. I closed the page at that point. Anyway, I never listen to news. I know from history that chf pairs can be very volatile at times, so when it happened i thought it was business as usual. As new traders, stay away from news. It has nothing to do with your success as a trader. Consistency, discipline and money management is what makes you successful in this game. When you dwell on news, is same as analyzing and predicting price. It assuredly will not end well. I just wanted to throw this out there. For all those that i have yet to reply their mails, i will this weekend. Good luck.

Thanks for this report u mension that beginner should stay away from news don't you think news have effect on price action traders

for those saying forex will remain here are still day dreaming.

d time is near where boys will be separated from men.

where 100-1000$ investors will be driven away.

where if you don't have a minimum of $100,000 capital, you can't trade forex.

where leverage will go back to 1:1 and 1:10 maximum

Sadly dis will start January 2016. many market makers were roasted in dis last financial tsunami buyaya.

Congratulations if u have 100k capital

I said the bolded 2 years ago & am repeating again here. Go for true ECN/STP brokers not all dis noise makers on Bloomberg & biz tv claiming big. I'm currently registering tough with one Swiss broker but at least am garanteed of my fund safe. dis same broker warned people dis will happen Last year. they even reduce leverage to 1:10 on CHF 4 months ago. No need advertising them here as some wise traders in Naija already using them.

Those with ears please hear d spirit. Bye

baddiguy:
Greetings to the house!

Guys, I just need to make a shortlist of possible brokers to transfer my trading with since, for obvious reasons, I can no longer be with my one and only broker for the last 6 years - Alpari (UK).

Please, to all those more experienced traders here, can you help narrow my search down to the best you know.

Alpari (UK) was almost everything I'd ever need in a broker. I just need an equal - or if possible, an even better - broker to continue my FX trading with.

Thanks in advance!

Try hot forex, they are not a market dealer, been with them for 3 years now.

Shevychen2:


Ah.. I was wondering.

Anyway good on XM so far that big names like FXpro and Alpari are running up and down and they didn't even say anything.

don't be deceived.most brokers were hit with the spike.they just don't want to make clients be panic.so don't loose guard.

FOREXMARTS:
Xm are not baby brokers. Especially now that trading point is diversified. No real stp broker will be affected cos they don't take opposite positions and trade against customers. In fact a real stp broker wishes you make money so that your volume increases. The higher your lot size the larger the spread value which is the source of a true broker's revenue.

don't be deceived.the country where xm is regulated is weak in monitoring and sanction.those big brokers have strict regulation and laws so they quickly sprung into action because traders are not smiling.their eye dey red.xm don't want to open up.

fxstory:
don't be deceived.the country where xm is regulated is weak in monitoring and sanction.those big brokers have strict regulation and laws so they quickly sprung into action because traders are not smiling.their eye dey red.xm don't want to open up.

GBAM