You're a jack-ass who doesn't trade. I know. Anytime you wanna man-up and post some live calls, by all means, I'll blow you out of the water. This is the 3rd time you've dodged my direct challenge to post your occupation. You don't trade. But consider yourself abreast enough to comment on a field you're personally ignorant about. Leverage does not make trading hard. Trading is hard because trading is hard (to figure out). If you traded, you would know that.
you seem to be full of anger why dont you let others make choices in their life and just let it be? No reason to look down on them. That you cannot channel your anger or frustration (wherever its coming from) shows you lack proper hobbies or a satisfying job. What you fail to see is that high leverage is not good for ANYONE, not for the brightest and smartest, not for the dumbest ones. The only entities its good for is brokers. Thus, I hope they are gonna be forced to close doors soon.
a) agree leverage does not itself determine whether you walk home with winnings or losses in the end of the month b) i dont even know you and dont remember whom you challenged and why you have a need to do that c) I am trading mostly options on equities, index, fx. Anything else is none of your business, I dont remember I asked you to be my friend...so, take it easy d) you sound like someone whose account gets churned and raped every day by your broker, overtrading, over leveraging, and revenge trading. I recommend you take a break, take a deep breath and come back to the table...;-)
guys, I am out of here, just wanted to also add another side of the coin, a differing opinion. That most are opposing limits on leverage I fully understand, though I dont think its fruitful to even attempt trading by leveraging up on positions. Fortunes can be made (and lost) with leverage < 20:1, even 10:1 Good luck all
Peer deep into those tea leaves, eh?? You're a poser who doesn't trade. We've established that. High leverage is not good for anyone??? BULLSHIT. 98% of traders fail. The other 2% of winners benefit from high leverage. Finally, thanks for proving my point: If Joe Blow loser wants 400:1 leverage and their broker stands ready to give it them, WHO ARE YOU to intervene? After all, should we not "let others make choices in their life and just let it be?" Don't be a hypocrite. Please shut the fuck up now. Checkmate.
I never asked to be friends. Trust me. You don't trade. We know. Lastly, I could wipe the floor with you, any day of the week. Trust me on that. Why not take some of your own advice, and let others make their choices and leave them alone? Or does that apply to everything but leverage? Don't be a Jack-ass.
That's great. Then trade that way. Just don't force your rules on everyone else. You wouldn't like it if I forced you to trade at 100:1? So why force me to trade at 10:1? That mentality ("do what I think is 'right'") is just as obtuse and perverse. At 100:1 or 1:1, 99% of traders will still lose. Just slower. Please think this through.
CFTC still isn't posting the latest comments. Everyone email secretary@cftc.gov and tell them to stop suppressing customer comments! http://www.cftc.gov/lawandregulation/federalregister/federalregistercomments/2010/10-001.html
Thanks, Andy. Send this (as well) to the CFTC as a reminder to them that knee-jerk reactionary solutions to the problem, is no real solution at all. Very well put and good job!
You don't have a clue, do you? It is NOT the leverage that's the problem insomuch as it is the lack of skill and knowledge on how to make the leverage work FOR you instead of AGAINST you. The simple fact that you don't yet understand this incredibly fundamental concept, is proof positive that the only PayPal Paper Trader around here, is YOU. I bet that you are one of those same so-called "Traders," who rail against the idea that having two opposing open position of equal size and timing, is not considered real hedging, and that both positions have no "real purpose" but to cancel each other out? I bet that is your mentality, as well, no doubt. 200:1, 100:, 50:1, whatever, whenever. The problem is a lack of education on HOW these markets work. If you are a true equity derivatives trader, then you should already know that good trade strategy coupled to good money management strategy can trump 50% trade accuracy - and - 50% probability is plain vanilla risk, upon entry into most all financially traded markets. So, it is your education that raises your trading accuracy with respect to striking your Limit Order BEFORE the market strikes your Stop Order. What you truly understand about how the market (read: your pair) works, is what move your trading accuracy above the 50% probability range and into the high percentiles where real traders live out their trading lives. Big, just posted the perfect example of two traders using two different leverage levels, yet turning out the exact same failure rate. Mathematically, your harping on Leverage as being the problem for trader's failing, is illogical and irrational and it paints you as a total neophyte to this business. Now, grow up (in this business) and learn what you need to become consistently successful and stop acting as clueless as the bureaucrats who will ruin just about anything they can get their hands on. If the YOU and the CFTC were seriously concerned about Consumer Protection as it relates to Currency Traders (what a joke that concept truly turns out to be), then both YOU and the CFTC would be trying to build a comprehensive strategy for increasing the overall education of each Currency Trader in the market place. That, above all else, would make more traders more successful and it would do wonders to lower the so-called 95% failure rate. Mathematically, you can lose far more than you win and STILL walk away from this business a Millionaire at least over a period of just a few years but ONLY if you learn what Money Management looks like AND how to properly structure your trades (positions) such that when a failure does happen, even at 200:1 or 100:1, you don't get wiped out. THAT comes from EDUCATION and NOT from artificially reducing leverage. Without proper education, you can mandate the leverage down to 10:1 and the trader will STILL lose everything IF they don't understand proper Money Management AND proper Trade Set-up (configuration). So, go sell silly somewhere else - I'm all stocked up here. Leverage is not the target. Education, is the target.