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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Stoctrash who wrote (44385)	12/28/2008 2:19:07 AM
From: Haim R. Branisteanu	3 Recommendations Read Replies (1) \| Respond to of 217546

For the bigger trades I am using my bank. See if any of the outfits you choose are a commercial bank subsidiary for safety. Did some trading with Refco in the past, but closed account on time. I am also using Saxo Bank they are insured up to 50,000 DKK (or could be EUR do not remember) by the Danish Government. Tried to talk to other outfits but did not trade with them. Most important do not get lured by the availability of very high leverage and do not try to day trade. The FX market is not regulated and you have little recourse if they screw you - and all of them including banks, they try to do so whenever they can in small amounts but it adds on over time. To shelter yourself from that, online platforms are better. Keep in mind they are all very nice to you at the beginning. Use low leverage like in stocks or possible 1 to 4 max. If you can trade ETF’s instead of currencies and their option even better. There are no fees involved in FX transaction the brokers live of the spreads and most transactions are OTC– that is why they also steal you whenever they can there is no oversight authority. Other option is to trade on the CME currencies and not OTC via the other brokers in today's environment it may be safer. Keep in mind they all are cheating you, no matter what they say - or they move the bid ask or widen the spread all to their benefit - therefore when position trading you are cheated, but placing a trade over a long period of time, if you are right the amount is meaningless. My time horizon is in excess of 9 months and in many cases several years. Writing covered options 3 to 6 months.