They Can See Your Margin!
May 28, 2015 at 08:04
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forex_trader_169700
Member Since Dec 30, 2013
158 posts
May 28, 2015 at 08:04
THEY CAN SEE YOUR MARGIN!
Just spoke to Trading Desk regarding a Long open position I have in GBPJPY because I felt I was close to being stopped out. I don't use a Stop Loss, basically because I don't trust them. I've learnt from experience that no sooner do you get stopped out and the trade starts to resume in the trend you traded at. I explained to the trader that I felt that once I was stopped out the price would start to resume in an upward trend. He informed me that he could see exactly how much margin I had which was approx. 45% and he explained that I wouldn't be stopped out until my margin reached 20%.
I then said that if he was able to see the exact margin I had left what was to stop them from stopping me out, not only that they could have a database of everybody within say 20% to 30% of their margin and then stop them out.
He tried to reassure me that 'My Word Is My Bond' , that it wouldn't be ethical and all that! Personally I think all that 'My Word Is My Bond' etc was left behind with the LIBOR and FX Rigging Scandals!
Any opinions?
Just spoke to Trading Desk regarding a Long open position I have in GBPJPY because I felt I was close to being stopped out. I don't use a Stop Loss, basically because I don't trust them. I've learnt from experience that no sooner do you get stopped out and the trade starts to resume in the trend you traded at. I explained to the trader that I felt that once I was stopped out the price would start to resume in an upward trend. He informed me that he could see exactly how much margin I had which was approx. 45% and he explained that I wouldn't be stopped out until my margin reached 20%.
I then said that if he was able to see the exact margin I had left what was to stop them from stopping me out, not only that they could have a database of everybody within say 20% to 30% of their margin and then stop them out.
He tried to reassure me that 'My Word Is My Bond' , that it wouldn't be ethical and all that! Personally I think all that 'My Word Is My Bond' etc was left behind with the LIBOR and FX Rigging Scandals!
Any opinions?
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