This Would Be Hilarious If It Wasn’t So Sad — Forex Edition
- Posted by DynamicHedge
- on October 13th, 2010
Despite the advice of his attorneys , a colleague of mine decided to throw some cash into a forex account. He’s a very successful equities trader and hopefully he will be able to translate that into the currency racket. His broker recently emailed him the attached document as is now required by new CFTC rules on US based spot Forex brokers. The numbers are against him — see below.
Clearly I’m not the only one wary of the unregulated world of Forex. I’m actually a little suprised that the number of profitable traders are as high as they are. I would have thought less than 10% would be profitable in the bucket-shop game.
Disclaimer: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please click here for a full disclaimer.
-
DynamicHedge is an equities, futures and derivatives trader based on the West Coast. He runs a long/short opportunistic relative-value strategy within a proprietary trading group. More
-
-
-
Recent Posts
- How Value Investors View Bitcoin
- Trusting your Intuition in Financial Markets
- Total Coin Supply and Inflation in ICOs
- Tokens, Blockchain, and Bubbles
- Three Ways To Be In Service To the Market
- Underlying behavioral trends
- Pattern Recognition vs Pattern Matching
- Seasons of the market
- Volatility expands at the end of a bull market
- Market maps and cycle changes
-
Archives
