Monday, July 26, 2021
Wednesday, February 04, 2009
Retail Forex
FINRA Requests Comment on Proposed Rule to
Establish a Leverage Limitation for Retail Forex
Comment Period Expires: February 20, 2009
Executive Summary
FINRA is requesting comment on a proposed rule prohibiting any member firm from permitting a customer to: (1) initiate any forex position with a leverage ratio of greater than 1.5 to 1; and (2) withdraw money from an open forex position that would cause the leverage ratio for such position to be greater than 1.5 to 1.
The text of proposed FINRA Rule 2380 (Leverage Limitation for Retail Forex) is set forth in Attachment A.
Questions concerning this Notice should be directed to:
Gary Goldsholle, Vice President and Associate General Counsel,
Office of General Counsel (OGC), at (202) 728-8104; or
Matthew E. Vitek, Counsel, OGC, at (202) 728-8156.
Action Requested
FINRA encourages all interested parties to comment on the proposal.
Comments must be received by February 20, 2009.
Email comments to pubcom@finra.org
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Full text attached.
EVERYONE MUST SEND AN EMAIL AND TELL BIG BROTHER TO BUTT OUT!!
Tuesday, November 21, 2006
FOREX EXPOSED - Part 5
You enter the door and you are baffled. So many systems. So many experts. So many choices. Each expert seems to have a following. If they were not any good they wouldn't have a following, right?
There's a nagging feeling in your gut. This is trading. It is supposed to be simple. Man's been trading for centuries long before computers. When you get down to it, there is a buyer and a seller. That's the essence of trading. Someone wants to buy and someone else wants to sell. All they have to do is agree upon price. How did something so simple get to be so complex?
If the experts told you it was simple then why would you need the experts?
If they told you it was safe then you would not be afraid to go forward without them, now would you?
TO BE CONTINUED...
http://www.themaddashforcash.com/tro
Monday, November 20, 2006
FOREX EXPOSED - Part 4
Now you are more confused than ever. You were going to enter the door on the right but your confidence is a little shaken.
"What can you tell me about the door on the left?" you inquire.
"We call those people 'The Quiet Ones", the receptionist replies, "They just quietly go about their business of making money?"
"Do 95% of them lose, too?"
"Oh no, not at all. They make money."
"But then why are so many people entering the door on the right?", you ask passionately.
"It's like I said, I think they have better advertising. They write books, give seminars, provide education and some of them do win. You have to admit when you look through the glass door it does seem impressive in there."
"If I go in the door on the right, can I leave anytime I want?"
"Well, yes of course, it is not a prison.", the receptionist chuckles.
"And if I leave, then I can go in the door on the left if I want?"
"Yes."
"Then why don't people who are losing do that?"
"Like I said, I am only a receptionist, I am not a pschologist."
WHY DON'T YOU EXIT THE DOOR ON THE RIGHT?
WHY DON'T YOU GO IN THE DOOR ON THE LEFT?
TO BE CONTINUED...
FOREX EXPOSED - Part 3
She smiles and replies, "Well, they are."
You inquire, "What can you tell me about the door on the right?"
"That's where just about everybody goes at first," she replies, "I think they have better advertising."
You fire another question, "Do they make money?".
The smile on the receptionist face disappears as she answers in a somber tone, "Not really, about 95% of the people who go in there lose their money."
"But how can that be?", you snap back, "They have systems, charts, methods, indicators and they seem to have rules to keep that from happening."
"I really don't know the answer to that question, I am only a receptionist."
WHICH ROOM ARE YOU IN NOW? MY GUESS IS THE ONE ON THE RIGHT. AM I CORRECT?
TO BE CONTINUED...
www.TheMadDashForCash.com/tro
FOREX EXPOSED - Part 2
You point towards the door on the left and inquire, "Is that the library?".
The receptionist shakes her head and replies, "No. That's Forex."
Her answer shocks you and you point towards the door at the right and ask, "Then what's that?"
The receptionist chuckles and responds, "That's Forex, too."
Now you are really confused. You are wondering how can they both be Forex.
More and more people enter the building and go in the right door.
You think to yourself, "Well, if all those people are going in the right door, they must know something."
I KNOW YOU WOULD GO IN THE RIGHT DOOR, WOULDN'T YOU. IT'S HUMAN NATURE TO FOLLOW THE CROWD AND HEAD TOWARD THE EXCITEMENT, ISN'T IT?
TO BE CONTINUED...
www.TheMadDashForCash.com/tro
FOREX EXPOSED - Part 1
FOREX EXPOSED
Imagine if you will, the largest building you have ever seen. Now imagine one ten times bigger. See yourself standing before it. It is so enormous. You are in awe. As you look up, you see at the top of the building the word "FOREX" in huge gold letters.
You walk in the revolving door and the reception area is spectacular. The receptionist greets you, "Hello. Welcome to FOREX, the world's largest market. Feel free to go in or you may wait in the lobby."
You just stand there with you mouth open totally amazed. Someone walks by you and heads towards the big glass door on the right. You can see thousands of people in there. There are huge monitors on the walls with every kind of chart, table and graph imaginable. Lights are flashing. Lines are crossing. It looks like pandamonium. When the person opens the door, the noise is almost deafening. There is so much action. What the heck is going on in there.
Then the big glass door on the left opens as someone leaves the room. DEAD SILENCE. You look in and there is just a few monitors will basic charts. There are only a few people in there. They seem to be very studious. You think to yourself, "That must be the library."
Now, I want you to tell me the truth. Which door would you choose?
TO BE CONTINUED...