Currency Trading (Nov 20th - Nov 24th)

[ChowClown]

well, good luck, you too priceman.

i am calling it a day. too slow for my liking, and a 4 year old demands attention.

...me too once this top sorts itself out. Off to look at last year's Thanksgiving week chart for some clues.

 

[Baruch]

Amazing - a broker with 0 spread:

http://www.profinum.com/

 

[Priceman]

Wished it would just do something, anything, just give me a sign ! Tight stop now on the long as it's scared of the 80 level. Everyone always says Mondays are the worst to trade, I should have stayed away today. Still these are the days you learn the most I spose. Good for discipline and all that, who needs the clean 100 pip moves in one direction without retracement ?

 

[Priceman]

Amazing - a broker with 0 spread:

http://www.profinum.com/

Nice one Baruch.

Laptop, you should get over quickly and give them a go, see how long you last

 

[jacinto]

Amazing - a broker with 0 spread:

http://www.profinum.com/

have you tried the demo?

 

[Baruch]

have you tried the demo?

No. I can't understand how they can make a profit for themself. Yes, you pay commission, one dollar per trade, but the first 15 trades per day are free.

http://www.profinum.com/trading/prices_fees.html

 

[ChowClown]

...their demo chart link is "null" at the moment.

 

[Offshore Trader]

I should be defending offshore centres but I like to know exactly who I am trading with, who they are regulated by and whether I'm going to get my money back. I would want to know a lot more before I got involved with a company based in the BVI. I am intrigued by their address in London given the domicile of the underlying company.

 

[jacinto]

I should be defending offshore centres but I like to know exactly who I am trading with, who they are regulated by and whether I'm going to get my money back. I would want to know a lot more before I got involved with a company based in the BVI. I am intrigued by their address in London given the domicile of the underlying company.

I've got to say that the fist word that comes to my mind is scam. think you are spot on.

 

[ChowClown]

...whole position at b/e now.

Flat.

 

[JER08]

Wow, 50ish pips range so far today on cable.....

 

[Offshore Trader]

Today's fast moving market (!) was too much for Capital Spreads my stop earlier at 65 incurred a one point slippage. I've only been using them for a short time and small stakes. It's not been a great start to say the least.

 

[Priceman]

Today's fast moving market (!) was too much for Capital Spreads my stop earlier at 65 incurred a one point slippage. I've only been using them for a short time and small stakes. It's not been a great start to say the least.

That's bad news mate, well if it's any consolation CMC did actually go to 64 ! What a rubbish waste of a day hey.

 

[Offshore Trader]

That's bad news mate, well if it's any consolation CMC did actually go to 64 ! What a rubbish waste of a day hey.

Yes a waste of time and a 30 point loss. I think my relationship with Cap Spreads is going to be short. Til tomorrow...

 

[Baruch]

I've got to say that the fist word that comes to my mind is scam. think you are spot on.

Here's the management:

http://www.profinum.com/Company/management.html

And here are the news about the new broker:

http://www.emediawire.com/releases/2006/11/emw473881.htm

 

[ChowClown]

Here's the management:

http://www.profinum.com/Company/management.html

And here are the news about the new broker:

http://www.emediawire.com/releases/2006/11/emw473881.htm

Do you use them, Baruch?

 

[a_gnome]

Here's the management:

http://www.profinum.com/Company/management.html

And here are the news about the new broker:

http://www.emediawire.com/releases/2006/11/emw473881.htm

Interesting stuff, Baruch.

I actually know the CEO Mika Liebkind - he used to be a client of mine. He always seemed like a fair and reasonable person.

I've got the demo working ok - it is fairly basic but has simple charting which looks quite clean.

As to how they make their money I can only guess that they are assuming that the majority of their clients will be losing money even at choice prices so they are acting like a bucket shop. As a single counter-party they will also have the usual possibilities of skewing your exit prices so that once in a position even if they show choice it might be several pips on the wrong side of the market. There is also the possibility of slippage on stops etc. All the usual shenanigans that go with single counter-party trading are possible in fact.

Still it's an intriguing idea. Anyone feel brave enough to give them a go?

 

[Baruch]

Do you use them, Baruch?

No, I first heard about them today.

 

[jacinto]

Here's the management:

http://www.profinum.com/Company/management.html

And here are the news about the new broker:

http://www.emediawire.com/releases/2006/11/emw473881.htm

still not convinced. are you thinking of them? if so, would like to hear your experience. no spread is an attractive offer, but then again rather wait for opinions from current customers.

jacinto

 

[edu]

... I like to know exactly who I am trading with, who they are regulated by and whether I'm going to get my money back...

I double you on that OT.
But I have to admit I'm a coward when choosing a place to deposit any funds... :cheesy: