I assume the reason the forex shops are against this rule change is : the more leveraged the customer the easier it is for the more experienced traders at those firms to gun stops and take money from the poor to pay for their bonus yada yada yada www.the11thhour.com/archives/022001/videoreviews/images/westworld.jpg
You don't know how to trade. Period. If you did, you wouldn't have posted that. You work for Goldman, right? On a desk? You're not a trader. That's obvious. Just a suit who moonlights their 401K. Please STFU about things you know nothing about.
lol, and what value did you just add? Any opinion of your own, paper/penny trader? Your agitation shows that you exactly fall into the category of someone with a few bucks in his account who believes he can leverage up to the hilt and become rich overnight. Good luck!!!
*** perhaps you dont understand why the housing market imploded *** maybe you lack understanding of why companies such as Lehman or Bear Sterns went under *** you probably also ignore the fact that more or less 95% of retail "traders" fail and that one of the major contributing fact is leverage Having seen a lot of guys fail either in a professional market making or prop trading environment plus people dropping out in retail space on a daily basis often because they over traded or took too much risk (=too large positions) tells me clearly I know what I am talking about. How about you?
You're an idiot poser in a suit. Nothing more. I could out-trade you 3-fold, any day of the week. You haven't a clue about trading. Like I said, I day-trade currencies for a living. What do YOU DO?? It's obvious you don't trade !!! Please leave the issue of leverage to actual traders. You're just a wannabe.
no facts, only baseless accusations and pointing fingers at others. Your post speaks for itself. Yet, still hope you will understand the issue at hand some time in the future. You may be able to handle leverage, i dont know you so I cant say, but most people cannot and thats the precise reason it should be limited.
You're an idiot. What does RETAIL FOREX have do with the housing bubble?? It was INSTITUTIONAL LEVERAGE and MORAL HAZARD that caused the housing bubble/bust, you 'tard. You clearly don't know what you're talking about. You just *worked* the backend of some prop trading group. You didn't actually trade. You're a geek who does risk management for some Investment Bank, right? Tell us. You haven't traded a share in your life. You think leverage makes trading hard? As if the abolition of leverage would suddenly make all those drop-outs profitable overnight?!?! LOL 1:1 or 100:1, a trader who doesn't know EXACTLY when to enter and exit, LOSES MONEY. All the fresh meat you watched get churned from behind your order book didn't understand stop-size relative to account value (risk per trade). That's what matters, dummy. Not gross available leverage. No wonder they blew out their accounts.!! Should the Government cap lotto sales at one ticket per person to "protect" degenerate gamblers? Or how about we install 40 mph speed governors on cars to keep everyone "safe" from the dangers of speeding?? Or maybe the Government could take-over food distribution and enforce a national diet to "save" all the obese fuckers from gorging themselves with atery clogging fat??? That's the kind of 'Government-knows-best' idiocy that's behind this bill. People fuck up because THEY FUCK UP. Not because somebody else didn't stop them. Please.
you seem to be on a huge losing streak otherwise there is no explanation in this world you react so agitated. So, in an ironic sense you are absolutely right, you cant prevent idiots from losing money no matter how low you set the leverage. But listening to your argument and opinions you pull out of your arse about me without knowing a thing you clearly show that you are for sure not one of the smarter ones. And dumb people also lose money over time, not just idiots... Enough said, come back with valid arguments about leverage and why you need it (unless, as we currently understand you trade your sub 10k account and want to take it to 2,000,000 by year end) and then I am happy to respond otherwise consider this the end of our conversation!
Those losers are gambler types who refuse to spend 2 minutes educating themselves on the basics of anything. They just want to close their eyes and roll the dice. End of story. You can find them anywhere in life. They're the morbidly obese fucks stuffing themselves at McDonalds. The degenerate losers pumping endless twenties into an electronic slot machine. Rummies living off quarters in the park so they buy another 60 of vodka. Shit happens, man. If you understood how easy it is to risk >1% of account value until a person can churn consistent profits, you wouldn't be so eager to protect the WILLFULLY stupid.