Once again.. sifu G predicts it right

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Added on July 2, 2009, 10:24 pmAfter this rule takes place. WELCOME TO OANDA !

this ruling doesn't affect oanda users. Just clarified with the broker. It seems the stop loss and limit order on oanda works differently and its not affected by the nfa ruling. Will need to clarify after 31st July 2009 see if they are lying or oanda just rocks

This post has been edited by kelvin_tan: Jul 2 2009, 10:24 PM

Adam, I think GS really can make a lot of money in kuching, since the ppl there are rich and perhaps a little bit "naive"....haha..good luck GS, we both KCH ppl but currently in KL. This thread is mainly for forex discussion but not service:)

I've one question. I heard some one said the SL and TP is no longer exist. What is that meant?

EU h1 h4


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Major term : Bearish
Short term : Correction to 6485


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Thanks. But IBFX is regulated by NFA, right? New NFA rule forces me choose for other brokers, which are not regulated by NFA.

Fade Euro at 1.3746.

GBP/JPY 4H chart:

IMHO, the price zig zag between 159.85(resistance) and 154.83(support). Price between this block is unpredictable, unless you go for shorter time frame eg. 15min to look for better chart pattern. I am taking a few lost due to the uncertain price action. I will stay away, the probability to win IMHO is about 50-50, no different with gambling.

Add on, price is testing SMA100 and sma 200, if break sma200, you guys should know what to do, put a bigger SL, apply your money management, short like there is no tomorrow. haha, well this is just my 2 cent, I welcome all comment on my GJ analysis.





This post has been edited by bulkbiz: Jul 3 2009, 09:01 AM

Yup.. After 1st August..
If your broker is regulated under NFA


You cannot modify and close any existing positions too.
To close, you have to open an entry order in the opposite direction

The worst thing is FIFO

"First in First Out" order

Suppose you enter 3 sell positions at different times


8am -150 pips
2pm -50 pips
5pm 50 pips

you cannot close your 5pm trade without closing the first two trades



MetaQuotes has to reprogram Metatrader platform to eliminate SL, TP and be compliant with FIFO rules.
If MetaQuotes does not coorporate, it will become an illegal platform under NFA and all the US brokers that rely solely on MT4 will be in big trouble

This post has been edited by prolog: Jul 3 2009, 09:45 AM

For the new FIFO rule created by NFA, it had made some changes to our trading, actually is good for us to prevent losses or margin call. Here the changes that affected:-

1) If apply FIFO: You need to close the 1st trade before you can close the 2nd trade, but you still can open the same lot size for the same pair. Only can create S/L & T/P for the 1st trade.

2) If without FIFO: You can't open the same lot size for the same pair and you need to open different lot size for them, Eg: 1.00 lot for 1st pair and 1.01 lot for 2nd pair.

Do you want to know why the NFA is enforcing this rule?
It's supposed to be a protective rule to prevent you from incurring major losses on a set of losing trades. If you didn't close the first opened first hoping the market would retrace to either minimize your losses or potentially achieve a small profit, the NFA feels that too often the market does not retrace to just compound your losses further until you hit margin calls. I think the NFA created the exception for different lot sizes to rule more with a velvet glove than an iron fist because it gives traders some flexibility and keeps a balance between protective vs. controlling for the new rule.

For more info, please visit http://www.nfa.futures.org/news/newsNotice...?ArticleID=2273

This post has been edited by rstusa: Jul 3 2009, 10:38 AM

Xiao liao lor. I hate this... What is the US trying to do oh. Make my life more troublesome

u r right.

im not trading today, US Bank holiday. see ya all on next week

Is that you in the avatar displayed?

you interested? lol

After do some DD, this is not the person.

More buayas spotted

Yes, thats what i suspect. Imposter?

@mphpopular
I spoked with oanda live chat and it seems that oanda system is not affected by it.. our SL and limit order still stays U want i can pass u the transcript.. currently in office.

My office blocks so many things.. msn, yahoo messenger.
Websites blocked = blogs, dailyfx, meebo and so on

strange thing is.. fxstreet can load but dailyfx cannot hhahaha and oanda also can but dunno can load platform or not

NFA new FIFO rule for all brokers are same. As i know if you open the 1st & 2nd trades with same lot size, then you can't create S/L & T/P for 2nd trade, unless you use different lot size for both trades.