I to the B… to the NFA

Filed Under (Journal) by Casey on 02-12-2009

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I guess the NFA has really gotten to IBFX’s skin…

Last week I got a mail from IBFX saying that they are compiling with NFA’s rulling and will be only offering a maximum leverage of 1:100 come 29 November 2009. My first reaction was ‘$hit!!! Gawd Dang!!’ I was just about to request a change in leverage on my IBFX account and IBFX had to do this $hit to me…

The hedging thing was a minor issue for me. As long as I only trade one side per currency I would be fine…. I wasn’t hedging with my Cyborg on IBFX so it was fine.

However… I am using martingale on this account. And leverage is a key to the success of my many days of backtesting… I wasn’t going to sit on this and not say a word!

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Martingale Mania VI ~ Capital Outlay

Filed Under (EA System, Journal) by Casey on 26-08-2009

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While I continued my back testing on a few more currency pair, I was planning my next course of action to this Martingale strategy. Since I believe I got the currency pair covered… ok… more or less got the currency pair covered, I also needed to address the main issue to continue with this strategy forward.

Capital outlay with the big C

Looking back at the nature of the risk I am willing to take with this strategy… for each currency pair, I need to have at least $10k… risking around 3,500 every time… would equal to 35% of my capital. This would of course be reduced every time I successfully accumulate my profits and grow my capital and continuous maintained my lot size to be at 0.01.

Thus… this is where I am stuck!

I do not have $10k with me at the moment. So what am I going to do? $hit!

However having said that… there is always a way around it. If I were to change $10k into 10k cent… it would make sense to trade 10k sense… going on a 0.01.

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NFA ~ New Ruling Might be Worrying

Filed Under (Journal) by Casey on 08-07-2009

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Since the first release of new regulations by the NFA on US brokers, I was a bit tad worried about my account with both IBFX and FXDD.

NFANFA is or had released these three new regulations…

* No Hedging
* First In First Out (FIFO)
* Not Allowing Stop Loss or Limit Order

Of all the three rulings release, it is the third rule that really got me really worried. But before I jump the guns… I had to find out what is it all about and what are the implications it will have on me. So I scour the internet and found this site is so far the best informative information about these new rulings.

FXStreet ~ Facing the New NFA Regulation

The articles and comments posted are and I believe to be big whale professional traders. Trading million dollar accounts. I am just an amateur trader.. small time punter, automatically trading the market, toying around with robots, which trade on mini and micro account with small amount of capital..

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