ESMA and its implication
Aug 30, 2018 at 07:02
emotionaltrader posted:
ESMA and other regulatory bodies should bring back the old system of Leverage and introduce 20% tax or whatever on all WINNING trades. In my opinion this would create a much fairer system benefiting everybody!!!
Looks like you are from the Trump team
taxes and sanctions it's the best that you dream
sorry but I prefeare spend money that I winn by my self that to give money for governement for politics be more rich and pay unecessary functionaires just to be reelected !!!
Vote for me it will change nothing for you but he will change a lot for me !!!
( I know a man who win 1 Million dollar per day, you know how ? just a cousin of past president)
Member Since Jul 23, 2018
100 posts
Aug 30, 2018 at 08:26
If I was a small retail trader and I knew that I was capable of making £400 a day or more then I would rather pay TAX on my WINNINGS at a higher leverage than trade at these pathetic low leverages that have been introduced by ESMA and other regulators. Furthermore if your income doesn't meet the tax threshold for the year you can claim it back.
If you don't want to pay tax, you don't trade, simple as that.
If you don't want to pay tax, you don't trade, simple as that.
Member Since Jul 23, 2018
100 posts
Sep 02, 2018 at 07:22
DO NOT BE FOOLED BY THOSE OUT THERE PROMISING RICHES FROM TRADING!!!
Introduction of lower leverages by ESMA and other regulatory bodies means it's no longer possible for someone starting out with a small amount of capital to attain the dizzy heights that others have.
Think about it you now need £500,000 to be considered as a PROFESSIONAL TRADER and to have access to higher leverages, basically we have all been shut out of the market by the few.
The game has changed for the masses - it's no longer a FREE MARKET!!!
Introduction of lower leverages by ESMA and other regulatory bodies means it's no longer possible for someone starting out with a small amount of capital to attain the dizzy heights that others have.
Think about it you now need £500,000 to be considered as a PROFESSIONAL TRADER and to have access to higher leverages, basically we have all been shut out of the market by the few.
The game has changed for the masses - it's no longer a FREE MARKET!!!
Member Since Feb 22, 2011
4862 posts
Sep 03, 2018 at 11:15
Let us stick to the topic!
So how did ESMA affect your trading?
I had for example move my stb account to different broker to keep it making profit
while Maxik account is doing well even on 1:30 leverage.
So how did ESMA affect your trading?
I had for example move my stb account to different broker to keep it making profit
while Maxik account is doing well even on 1:30 leverage.
Member Since May 23, 2018
13 posts
Sep 03, 2018 at 11:27
togr posted:
Maxik account is doing well
Profit - 44.25% DD - 7.48%
You call that well? It's more than well, IMHO.
Member Since Feb 22, 2011
4862 posts
Sep 03, 2018 at 12:24
Pipperidge posted:togr posted:
Maxik account is doing well
Profit - 44.25% DD - 7.48%
You call that well? It's more than well, IMHO.
so far so good
the con does not trade often so I need to trade for a year to get good base of trades
Member Since Aug 30, 2018
25 posts
Sep 04, 2018 at 06:54
togr posted:
Let us stick to the topic!
So how did ESMA affect your trading?
I had for example move my stb account to different broker to keep it making profit
while Maxik account is doing well even on 1:30 leverage.
I am a small investor who is happy with present regulation. Don't understand why ESMA wants to change it. Proposals for new rules are more confusing, unfair and will not benefit anyone.
Pips are absolute aphrodisiac, so trade with your brain not your lust. Forex will always be the same.
Member Since May 23, 2018
13 posts
Sep 04, 2018 at 07:25
voketexpert posted:We've discussed this already. It is of benefit for the big (MM/DD) brokers.
I am a small investor who is happy with present regulation. Don't understand why ESMA wants to change it. Proposals for new rules are more confusing, unfair and will not benefit anyone.
Other than that - the traders and small STP brokers are getting shafted.
Sep 04, 2018 at 07:44
Please explain me why it is no longer possible to make big $ out of a small trading account. If the leverage is around 1:30, and the true leverage is, say, 10 and the risk per trade is 5%, it takes a couple of years to gain $20´000. Let´s imagine that in the beginning the monthly gain is 20% and in the end it will be 10%, which allows a modest standard of living even in Europe. One should deposit a couple of hundred of bucks, and know what one is doing. Of course things take time.. ESMA is a nuisance, but I don't see it as such a big obstacle UNLESS somebody explains me exactly why. Is that so heavily dependent on strategy used?
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 11:03
Anybody thinking they can open an account with £100 or a £1000 and think that they can make a living from FOREX under the new leverage restrictions is dreaming. Got more chance of making money just turning your computer off and saving money on electricity!!!
Said it before, it can no longer be considered as trading unless you're one of the few, unless you're a millionaire already!!! Probably better off just investing in some shares!!!
Said it before, it can no longer be considered as trading unless you're one of the few, unless you're a millionaire already!!! Probably better off just investing in some shares!!!
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 11:21
These leverage restrictions imposed by ESMA and other regulatory bodies - Japan & US are a breach of Equal Opportunities and Class Discrimination.
TRILLIONS OF $'S exchanges hands daily and basically these regulatory bodies are saying that there's not enough to go around, basically they want to keep it in the hands of the few. Furthermore, these leverage restrictions are upside down, it should be lower leverage restrictions for the big players e.g. High Frequency Traders, Hedge Funds, and Millionaires etc. The reason being it would provide STABILITY in the financial markets.
XTX Markets turns over billions each day - $150bn Daily volume across asset classes with just 97 employees. This is the way things are going in the real world with the rise of algorithms, HFT and automation. The livelihoods and wellbeing of people are being sacrificed for the sake of automation and to cut costs. Think about it, robots don't answer back, they don't need sick leave and they don't need holidays, but best of all they don't need paying.
Instead of moving forward the world is sleepwalking to disaster and if anything it's just a repeat of the Victorian Era where the few prospered and the masses ate cake!!!
That's where we're heading, might not be in my lifetime but that's where it's heading!!!
Forget about Daily Volumes it's just algorithms since they account for approx. 70% or more of the market!!!
TRILLIONS OF $'S exchanges hands daily and basically these regulatory bodies are saying that there's not enough to go around, basically they want to keep it in the hands of the few. Furthermore, these leverage restrictions are upside down, it should be lower leverage restrictions for the big players e.g. High Frequency Traders, Hedge Funds, and Millionaires etc. The reason being it would provide STABILITY in the financial markets.
XTX Markets turns over billions each day - $150bn Daily volume across asset classes with just 97 employees. This is the way things are going in the real world with the rise of algorithms, HFT and automation. The livelihoods and wellbeing of people are being sacrificed for the sake of automation and to cut costs. Think about it, robots don't answer back, they don't need sick leave and they don't need holidays, but best of all they don't need paying.
Instead of moving forward the world is sleepwalking to disaster and if anything it's just a repeat of the Victorian Era where the few prospered and the masses ate cake!!!
That's where we're heading, might not be in my lifetime but that's where it's heading!!!
Forget about Daily Volumes it's just algorithms since they account for approx. 70% or more of the market!!!
Member Since Aug 30, 2018
25 posts
Sep 04, 2018 at 11:26
niceGLer posted:being long term trader is what it is my friend.
I should have added something:
Maybe, just maybe, people have unrealistic expectations what is doable?
Pips are absolute aphrodisiac, so trade with your brain not your lust. Forex will always be the same.
Member Since Feb 22, 2011
4862 posts
Sep 04, 2018 at 12:38
voketexpert posted:Exactly. There is the only winner - offshore brokers - whose can take our capital and disappear now.togr posted:
Let us stick to the topic!
So how did ESMA affect your trading?
I had for example move my stb account to different broker to keep it making profit
while Maxik account is doing well even on 1:30 leverage.
I am a small investor who is happy with present regulation. Don't understand why ESMA wants to change it. Proposals for new rules are more confusing, unfair and will not benefit anyone.
Member Since Feb 22, 2011
4862 posts
Sep 04, 2018 at 12:39
niceGLer posted:
Please explain me why it is no longer possible to make big $ out of a small trading account. If the leverage is around 1:30, and the true leverage is, say, 10 and the risk per trade is 5%, it takes a couple of years to gain $20´000. Let´s imagine that in the beginning the monthly gain is 20% and in the end it will be 10%, which allows a modest standard of living even in Europe. One should deposit a couple of hundred of bucks, and know what one is doing. Of course things take time.. ESMA is a nuisance, but I don't see it as such a big obstacle UNLESS somebody explains me exactly why. Is that so heavily dependent on strategy used?
You have no idea what are you talking about.
20% a month for years with 1:30 leverage is pure nonsense.
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 12:48
All ESMA have done with the introduction of these leverage restrictions is create a two tier market with one set of regulations for one group and another set of regulations for the other. The market is more favourable towards the few rather than the many which basically means it's not a market at all!!!
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 12:49
niceGLer you're dreaming if you think that you can make a living from trading a few hundred quid on these leverages. Like I said you've got more chance of making money by switching off your computer and saving money on the electricity @ 0.20 -0.30 KWh!!!
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 12:51
emotionaltrader a moment ago
….furthermore the Daily Standing Charge for electricity is £1.80 - £2.90!!! Seriously, you'll make more money just by switching off your computer than you'll make trading £1000 at 1:30 Leverage. Better off investing in Penny Shares!!!
Oops - £100
….furthermore the Daily Standing Charge for electricity is £1.80 - £2.90!!! Seriously, you'll make more money just by switching off your computer than you'll make trading £1000 at 1:30 Leverage. Better off investing in Penny Shares!!!
Oops - £100
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 13:54
Let's get this into perspective. Before the leverage changes I was capable of turning £100 into £400 in a day, I was capable of turning £100 into a £1000 in a week which I did on 4/5 occasions.
Now at 30:1 leverage I've got more chance of making money by turning of my computer and saving money on the electricity!!!
Electricity unit rate: 17.25p per kWh
Daily standing charge: 18.90p per day
Like I said: There's more excitement watching the grass grow outside my window or watching paint dry.
That's what ESMA have achieved One rule for the rich and another for everybody else!!!
Now at 30:1 leverage I've got more chance of making money by turning of my computer and saving money on the electricity!!!
Electricity unit rate: 17.25p per kWh
Daily standing charge: 18.90p per day
Like I said: There's more excitement watching the grass grow outside my window or watching paint dry.
That's what ESMA have achieved One rule for the rich and another for everybody else!!!
Member Since Jul 23, 2018
100 posts
Sep 04, 2018 at 14:03
Basically those at the top don't like the idea that small traders like myself are capable of turning £100 into something more substantial, they don't like the fact that small retail traders like myself could start out with £100 and make a living. That's why they've change the leverages, that's why they've introduced leverage restrictions because their JEALOUS!!!
Furthermore, they're worried that small retail traders like myself will make them the rich few look like a bunch of idiots!!!
….and that's the TRUTH!!!
Furthermore, they're worried that small retail traders like myself will make them the rich few look like a bunch of idiots!!!
….and that's the TRUTH!!!
