APPARENT PHISHING ATTEMPT FOR COINBASE
Without thinking about this too much, I conclude it’s a phishing
attempt to get my Coinbase credentials. SO DO NOT BE NAIVE.
Also I checked my Coinbase account and of course there are
no Ethereum and the email says I should not see them before
something like 36 confirmations !!!
hyperscalper
The non-functioning withdrawal request page on Coinexx is starting to bug me.
i did the email withdrawal thing and had to talk to live chat for them to take action, got my money today. i agree they need to fix this issue ASAP
Got on chat with Coinexx just now. Support said they plan on finishing by tomorrow evening. Asked for any new additions or improvements and they said withdrawal process should be smoother/faster.
Hey folks, lurker here don’t know if this is the right place to post this, but i have some concerns about news trading with a non regulated offshore broker. If someone can shed some light i would eternally appreciate that!
So i have already blew up a $250 account with tradersway because i tried to trade non farm payroll news, and the spreads wiped me out even though i picked the right direction.
I have already learned my lesson to not to trade news again and sticking with major pairs like eurusd and usdjpy since i mostly scalp few 10s and 20s so i can afford the expensive bourbon barrel stout after work.
My question is how can i avoid trading news when it seems like there is some majors news release every day, and to add to that i just recently learned that a news relating to one specific currency can affect spread of all the other non relating currency, like a GBPUSD news spiked the spreads of USDJPY, EURUSD EURJPY, USDCHF and even aud and nzd. There is always 1-2 RED warning news everyday, and tons of orange ones on every pairs.
When the hell should i trade if theres always a news around the corner lol, i am trying to avoid spread spikes with offshore broker at all cost since i mostly scalp, whats your guys experience with spread widening with coinexx and other brokers? Is it very prevalent like randomly every day or is it only during any news release and rollover?
Widening spreads on high impact news events is a common occurrence. Even with onshore regulated outfits. You cant escape it. If you traded the right direction then you need more margin or lower your leverage. IMO If you’re going to trade the news then you need a much bigger (margin) account. At least 2-3k imo.
$250 to trade is woefully underfunded.
One of my specialties is News Trading. Prior to News Events
affecting a specific Currency, that Currency valuation is moved
either up or down. (This is using Currency Valuation Trend Analysis)
This has the effect of moving the Retail Market in general to
one side of the trade across at least 7 Currency Pairs.
Then, having invested the resources necessary to move
the entire retail market, the Market Makers
will reverse the Currency in question to “liquidate” their profits.
This is true, even with widely anticipated “no change” news
events in Forex. Anyway…
But you must get in before the moves take place,
never “chase” the move, and expect that spreads will be very
volatile, of course, for the first minute or so…
If that is the case, and you are on the losing side of the trade,
those wide spreads may trigger your brokerage Stop, so
try either 1) not to use broker stops, or 2) to place them
at a reasonable distance from the market.
Sell Stops are triggered by the BID and Buy Stops are
triggered by the Offer. Instantaneous Bid/Ask spread
values will trigger stops you did not intend to use…
[EDIT] With few exceptions (often greatly exaggerated
by traders) Coinexx and Turnkey pricing is good, and
execution is consistent, even during most News Events.
But, the key is to avoid “chasing” and trading during
the “volatile minute” which can occur with News.
At the rollover time, Coinexx and Turnkey spreads are
untradably wide for about an hour… Otherwise,
things are consistent, and I measure these things.
hyperscalper
the guy just blew 250 and your telling him he should start with more money
any chance mods can move the posts regarding trading advice off of this thread?
it has been a great thread regarding brokers, would be a shame getting off topic, thanks
Forex offers a fully proportional commitment level, with equally
proportionate commissions. So get another $250 but scale down
your commitment levels, and use multiple positions to create
an aggregate which will lower your cost basis, and span the
anticipated volatility. Also, Bidding or Offering outside the market
can also be a good way to enter News positions. After all,
Pending/Limit orders are always entered “counter trend”, and
so any “slippage” is positive, and thus in your favor…
Use 400:1 or 500:1 leverage, but just scale down your
commitment levels, appropriate to your current account equity.
[EDIT] one useful approach is to get some proportion of your
maximum desired commitment level in as a Market order; but
then use staggered limits to Bid or Offer further into the position.
Then if there is no pullback, at least you have some skin in
the game; and if there is pullback then you use your Limits to
pull your Cost Basis in your favor…
hyperscalper
@Cryptosurf @SmallPaul @HyperScalper Thank you all for your inputs, greatly appreciated!
@cipher03 It was not my intent to divert this thread from it’s main purpose, if the mods think otherwise, please move/remove it as they see fit.
I am just trying to get some insight on spread widening issues that some brokers seems to have randomly, that is not caused by any particular news or daily rollover,
I was researching Coinexx and came across this fella who experienced a 70 pip spike!
https://www.forexpeacearmy.com/community/threads/coinexx-six-figure-loss-spread-manipulation.57971/
I can probably withstand 10-20 spread spike, but not a 70 pip one for sure lol.
@Hyperscalper keeps a tab on broker’s typical spread maybe he can mediate if this is a normal occurrence. I have never traded with them yet, so I do not know how their spread behave during slow period/ high volatility and if they experience spikes out of the blue.
Also @HyperScalper, thanks for your insight on how to go about trading the news and not chasing the move, initially before blowing up my account, it was not my intent to trade the news, I just happen to get a buy signal from my technical analysis, and there was a news release shortly after, not knowing how high the spread will spike up against my better judgement. Its better to leave these for seasoned traders, I am just a novice simpleton trading for some quick beermoney lol.
For now I am staying as far away from trading around news event, not pulling the trigger if there’s a news release with a square mile radius.
Welcome to the world of forex 
most of us have had similar experiences while trying to take off but you surely end up being the seasoned one sooner than later
second that
As far as I can recall, over this thread’s 8½ years, the mods have had to step in here only once or twice. And that’s a testament to the on-topic relavance and civilized tone that almost always characterize our discussions here.
Furthermore, none of the participants in this thread, myself included, have the ability to remove another person’s post. The only action anyone can take against someone else’s post is to flag it. More on that in a moment.
Over the long course of this thread, the attitude here has always been one of tolerating brief off-topic discussions. And I hope we can continue in that spirit, until the day comes when this thread is no longer needed, and we can let it go dormant.
Occasionally, someone here goes off on a rant. Once in a while, someone cracks a joke. At holidays, we frequently exchange best wishes. And recently there was a short discussion of taxes. None of that has anything to do with offshore brokers or offshore trading – but I don’t think many in our group are bothered by those short-term scampers down the rabbit trail. We always seem to return, in short order, to the business at hand.
I’m pleased that, over its multi-year run, this thread has – for the most part – remained polite and orderly. And I hope we can keep it that way.
Speaking of flagging: I noticed several days ago that someone flagged one of SmallPaul’s posts. That sort of thing doesn’t happen much in this thread, so I was curious to find out what horrible thing SmallPaul had said that caused a kerfuffle. I read the offending post, but couldn’t figure out what anyone might have objected to.
Flagging is kind of sneaky, because it’s anonymous. But, SmallPaul hasn’t complained about being flagged, so I guess we can all just forget the matter.
clint i was flag for being off topic 
, it is what it is
Well he said he did pick the right direction of the trade, so either he was over-leveraged or didn’t have enough margin to cover.
Edit: Trading is much like a game of baseball. Everyone wants to hit a home run every time they step up to the plate. Most just strike out. Loading the bases’s and bringing them in one by one wins the game.
most likely over-leveraged but that have nothing to do with needing more money to trade
More margin in his account would have kept him from getting blown out.
if your over-leveraged doesn’t matter how much you have in your account you will blow it, he could be over-leveraged on a $250 account or $250,000
EDIT: don’t be over-leveraged and leave yourself wiggle room.
If you think so, but that’s not how it works.
If he was on the right side of the trade, and didn’t have enough margin (available funds) then he hit the MC limits. My guess he was oversized and over leveraged
Edit: He didn’t leave any room to wiggle
he didn’t have enough margin because he over-leveraged it therefore the margin was tied up, if he took a smaller trade that didn’t use to much margin he still be in the trade
