I don’t know why this topic interests me so much since I’m in the UK, but I think it’s just that it’s the whole missing the point stuff, it’s not leverage that’s the problem, leverage is transparent be it 2:1 or 1,000,000 or whatever, what I hate is derivatives that are so far derived from the original product, that they cannot truly be valued, as I see it, it’s a good idea to have options, the market will buy the option of a ton of potatoes in April from the farmer thus guaranteeing his income, great idea - it oils the wheels of industry, but the problem lies with stuff being chopped up and messed around with like if you were to have a ton of something, but it may be 50kg of potatoes, some tomatoes, 150kg carrots, and a whole bunch of onions, some to be delivered in March and some in May, this needs to be stopped it’s like a cancer working through the system, there should be a derivative Step limit, any derivative should be no more than 3 steps removed from the original product, that’s where the problem lies with stuff that we can’t quantify and it’s true value becomes hidden by the psychology and drive of the market.
Leverage is not a problem, leverage is leverage is exactly what it says on the tin, I see no reason to limit leverage to less than 100:1.
I’ve had my rant, thanks, I’ll stop before I go political!:mad:
Would you consider sharing your carry trade system or at least give some ideas etc as to how to do that?
And yeah 10:1 would destroy any trading system that has less than $1500 starting capital
Personally i wouldnt bother trading with less than $5,000 and i would choose 100:1 leverage (i wont touch leverage higher than 100:1 for reasons i am sure you would already be aware of).
Yes it will destroy almost all of my trading systems.
Actually I own a domain that i would be willing to host for free (which i already do) , if anyone here wants to make the website or just come up with content etc and i will host it at no charge…
PM me if you want to know the domain name since I really dont want another infraction (roll eyes) when just trying to cite comething.
A website with the sole purpose of saying no to the CTFC would go a long way and most likly get what is needed for the good of all. It will show them small traders will not be cowed by a goverment and that they will kick ass if it affects their interests.
I own a domain (PM me for the domain name link) that i am hosting for free.
I have in mind if someone here might have the skills to make a website and all people here at babypips and other sites etc can comment about the issue and also a central point for emailing the CFTC as well ?
Anyone up for it? I will provide the hosting for free, and the domain free as well...all thats needed is for one or more people to make a two page website.
I have thrown a fast site together, and i have some basic html skills…
Are you or anyone else interested in writing the content for that site…its only one or two pages bascially complaing about the 10:1 leverage and the CFTC and how trades want and need 100:1 leverage etc.
I have no writing skills really with regards to essays or things like that you know.
“The proposal in its entirety is intended to allow us to get on with our job of protecting customers and ensuring the financial integrity of firms engaging in retail forex transactions,” said Bart Chilton, a CFTC commissioner. He said the comments from the public—largely centering on the leverage proposal—have come down on the agency “like a winter blizzard,” noting that it was more than at any time in the agency’s history.
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