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Thursday, March 1, 2012

So.. You think you want to be a #trader do you? This post is for you #FX #forex #market


You can call me a fucking cry baby if you want. I don't give a fuck.

I consider myself to be a trading professional.. God knows I've been at it long enough now that I SHOULD have learned something..

I LOVE technical analysis! I LIVE on charts! I constantly study charts from m1 to the monthly. I'm in the office staring at charts at every morning at 7:00 AM my time. I'm here doing the same until at least 5:00 or 6:00 PM every night. Then I check the market throughout the evening, every evening, until I go to bed. Sometimes that's 10:00 PM sometimes it's 1:00 or 2:00 AM.

My point here is that I work hard.. I study hard.. I have more than enough desire..

However, basically what I have learned after 4 or 5 years of attempting to trade forex is that I'm a loser. Period.

That's not an easy thing for me to say because in life I have always succeeded at everything I find interesting and choose to pursue.

I repaired office equipment for 17 years and I was damn good.. I wrote computer software for 25 years (overlap yes) and I was damn good. I traded the equity market and I made fiat. I was damn good (See: I found an Edge (or two) in 2004 - #Market & #Stupid #Brokers)

Then I started trading forex..


Why 95% of Forex Traders Lose Money!


Day Trading ruined my life


Stock Futures Trader losses it all and flips out




Trading with FXCM, they manipulate the spreads again


(Keep watching all of this.. a lot here. Not one video Including FXCM "discussion")


We Are Traders - A Tribute to All Those Trading the Markets

Who are the Primary Dealers?

Primary dealer

From Wikipedia, the free encyclopedia

Primary dealer is a formal designation of a firm as a market maker of government securities. Primary dealer systems are present in many countries including Canada, France, Italy, Spain, the United Kingdom, and the United States. [1]

In the United States, a primary dealer is a bank or securities broker-dealer that is permitted to trade directly with the Federal Reserve System ("the Fed").[2] Such firms are required to make bids or offers when the Fed conducts open market operations, provide information to the Fed's open market trading desk, and to participate actively in U.S. Treasury securities auctions.[3] They consult with both the U.S. Treasury and the Fed about funding the budget deficit and implementing monetary policy. Many former employees of primary dealers work at the Treasury because of their expertise in the government debt markets, though the Fed avoids a similar revolving door policy.[4][5]

The relationship between the Fed and the primary dealers is governed by the Primary Dealers Act of 1988 and the Fed's operating policy "Administration of Relationships with Primary Dealers."[6]

Primary dealers purchase the vast majority of the U.S. Treasury securities (T-bills, T-notes, and T-bonds) sold at auction, and resell them to the public. Their activities extend well beyond the Treasury market, for example, according to the Wall Street Journal Europe (2/9/06 p. 20), all of the top ten dealers in the foreign exchange market are also primary dealers, and between them account for almost 73% of foreign exchange trading volume. Arguably, this group's members are the most influential and powerful non-governmental institutions in global financial markets. Group membership changes slowly, with the current list available from the New York Fed.[2]
The primary dealers form a worldwide network that distributes new U.S. government debt. For example, Daiwa Securities and Mizuho Securities distribute the debt to Japanese buyers. BNP Paribas, Barclays, Deutsche Bank, and RBS Greenwich Capital (a division of the Royal Bank of Scotland) distribute the debt to European buyers. Goldman Sachs, and Citigroup account for many American buyers. Nevertheless, most of these firms compete internationally and in all major financial centers.

In response to the subprime mortgage crisis and to the collapse of Bear Stearns, on March 19, 2008, the Federal Reserve set up the Primary Dealers Credit Facility (PDCF), whereby primary dealers can borrow at the Fed's discount window using several forms of collateral including mortgage backed loans.[7]


NFA orders $459,000 monetary sanction against New Jersey forex firm Gain Capital Group LLC

NFA fines Forex Capital Markets, LLC

NFA fines PFG $700,000; bars it from accepting new IBs for two years for deficient IB practices


I'll tell you something else that I know (just through osmosis) and that is the fact that there are a LOT of trades that occur for which the volume of NEVER shows up in the market.. How is this possible? Because of the now global nature of trading is what I understand.. That a person with the "right connections" can have their broker enter and exit large trades by spreading these trades among other participating countries. And I understand that because these trades occur with foreign trading entities that the volume of said trades does not show up in the volume stats for the indicated equity.

Either that's the truth OR some brokers will take your trades on themselves and never actually enter the trades in the market..


Trader on Bloomberg says markets are manipulated and volumes ficticious


Brokers Shocking Truth: ECN, Dealing Desk, Spikes, Spread Manipulation and other dirty tricks...


Price Shading - Forex Manipulation and Broker Games



Stop Hunting With The Big Forex Players


Like this guys smile?

Good luck SUCKERS!


1 comment:

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