RStu.... yes it is a usually a good idea to stay away from disputes, especially on the internet, and you are probably right, as one day i need to get around to learning the classicial sense of hedging, but as far as currencies, if you, like i am, are a US citizen, then i am restricted by CFTC regulations. NO other country has these regulations and with that i am also forbidden by law to use a foreign broker. In fact the CFTC just sued a group of foreign brokers and fined them millions of dollars for ENTICING US clients, I would have loved to been in that trial, because i searched for foreign brokers that will take US clients, we are not bing enticed, we are just tired of being SCREWED by the government, and yes there are a few foreign brokers that will accept US clients, i/m not sure i can trust them though. THe bottom line is, it is illegal for them to accetp us. All that said. HEre in the states we have a first in first out regulation, that mean all trades within a single pair , are listed as one trade and when trades are closed, it is first in first out, instead of trades listed seperately, so if i am, let's say the eur/usd, short, i can not place a long trade. Last night was a good example, the eur/$$ was in the 133.55 range all day, i am short from 134.7, and have been since last week, but every so often it tries to bust above 134, well.... if i was not treated as a retard by the cftc i could take advantage of the move and place a long trade, taking advantage of the 50 point move... but alas... i can not, so i have to sit here and watch the markets do what they do and not be able to take advantage of those periodic moves. ( HEDGING) not in the classical sense as in options trading, but more in the fly by the seat of you pants , currency trading. I also do not want to close my current trade because of the entry point, i know full well that the eur/usd is probably going south to 128, i can leave it alone as along term position, especially since i am making money with it as it sits. the reason i don't close it is my entry point. 134.700 , but if i coulod hedge my trade, and enter in a long position when i see the the right movement, i could as i mentioned , as last night, pick up those extra 50 points now and again.
Now comes FXWAYS and his backass comment, this was athread about frustration in fx trading, and he wants to give me a lesson , not only a lesson, but also that because i need more time to learn. He is right in line with CFTC regs. so either he is a stupid idiot or a schill for the cftc , monitoring these boards hoping to beat down anyone that is sick and tired of them. Also, he just me an idiot, as he mentions swaps, well if he really traded his own accounts or any accounts, he would know that swaps are both positive and negative, depending on, the currency pair and whether short or long, any position i hold long term has a positive swap, so i receive a few dollars each day just by holding it through the time when the market rotates, usually about 6pm NY time. SO YES i am calling him out as an idiot, he just needs to sit back and learn himself and in the mean time STFU
