Great to see another BBMA Oma Ally user here too

Congrats bro.

Well done

Yeah.. Capital size is not the main factor.. Anyone can grow their account as long as they have solid trading system (like BBMA) coupled with good MM.. This will give confidence to other traders to follow your footsteps

Guys, quite a bad news for traders here. CySEC and FCA are proposing to cap leverage at 1:50 for forex brokers under their regulation. This is similar move which has been done by NFA to US forex brokers.

More details on this matter:

FCA to cap leverage to 1:50

CySEC to cap leverage to 1:50

Not all ppl have big capital to start with and such moves will surely hurts them. With high leverage, they can increase capital from small deposit and a wise trader will decrease its leverage as his/her account grows. Even I myself started from USD100 and grow it till USD5000 with high leverage and now I trade with 1:200 max.

The big deal is, we still have ASIC and other (belize, republic of vanuatu etc regulated) broker left (but I prefer ASIC regulated broker though)

Yeaaahhh it took me a long time though.. Almost half year

Kevler much better than me.. He started with usd50 and managed to grow it to usd4k..

About 500-600 pips per month

Maybe this will affect brokers with respective branch / countries only.. For example, after NFA / CFTC imposed 1:50 leverage cap on US retail forex brokers, only FXCM US is affected.. FXCM UK and FXCM AU still offer 1:400 leverage..

Similar action will be taken once this proposal enforced by FCA and CySEC.. And most of us here trade with CySEC brokers lol (XM, Exness, FxPrimus etc)

Once this rule is put in place, the only choice we have is to migrate to ASIC and other regulated broker..

Some are sucks, some are good.

Xm, exness and fxprimus are good CySEC brokers

But it is agreed that few bad apples have tarnished CySEC as a whole and give negative perception

Really sorry to hear your ordeal with IronFx. Some ppl say they are bucketshop broker.

Most brokers have widen their spread today

Low liquidity during holiday season is the factor

Better trade next week lah

Haha my bad.. Next week is also next year lol

Most likely caused by HFT / black box trading activities.. there was no high impact news around that time

This spike a.k.a flash crash was not a sustainable move, only lasted for less than a minute if you take a look at 1 minute chart

Never underestimate the power of HFT / algo trading, they have the means in terms of capital size & superior market access than us too..

Yup, and these HFT only stay in the market for short period of time, mostly few seconds then get out of the market as soon as possible.

HFT = more advanced type of scalping with huge capital that able to move the market in short period of time (spike and flash crash)