Getting back to the trader who had a heavy loss which I think occurred on a weekend, maybe that loss would have never occurred if the trade was closed out before the Friday close. I personally would never hold a position, much less a large position, over the weekend. During the last several years I saw EUR/JPY gap a little over 300 pips at the Sunday open, over 300 pips from the Friday close. That same day I believe the EUR/USD gapped in at over 70 pips at the Sunday open. Stop losses are useless since the trading stations are usually closed Saturday and much of Sunday.
Not long ago VLoad.expert sold vouchers for $10, now they insist on a minimum of $100. Tradersway now insists a minimum of $2500 must be sent by bank wire, whereas they used to accept a much lower bank wire amount. It looks like these businesses are continuing to cave in to the demands of the enemy, the US and now European based (ESMA) financial regulatory agencies. These agencies are operated by creatures who think they are human beings. Real human beings, though, have at least a little empathy and sympathy for less financially fortunate people like us little traders trying to make money in an honest, harmless, and legal way. If these regulators think high leverage and hedging are so highly evil, they need to abolish the public lotteries, which are the abomination of financial abominations. The vast majority of lottery ticket purchases are a guaranteed loss, and these regulators do nothing about it, except to try to keep on strangling offshore currency trading.
Years ago I was having trouble loading my account with ForexCent in Czechoslovakia, now the Czech Republic. So I asked them if I could mail them a paper bank check. They said yes, so I mailed a paper check in a paper envelope to them. It took about a month for the money to get into my account, but it did get there costing only about a dollar or two in postage stamps. ForexCent, unfortunately, later went out of business.
The vicious, steadfast attack by the enemy on the international money transfer services may eventually result in traders having to use the postal mail delivery system to fund trading accounts. I don’t think the enemy (US financial regulators and ESMA) will ever be able to ban the mailing of letters to foreign addresses. So the chances are good that we will prevail.
During the last 2 weeks Bitcoin has lost about half its value crashing down to around $3200 from a long narrow trading range of about $6400. It has rebounded a little. That’s why I don’t like to use cryptocurrencies.
Much praise and many thanks continue to be owed to Clint. It was dynamos like him that helped us to win World War 2.