Saturday, October 16, 2010

Weekly total, and the new forex regulations on leverage

This week I only got in 2 days of trading. One was flat, and the other day was essentially flat (+.18%). I also don't feel I traded very well this week. My bad trading had mostly to do with my messed up schedule and allowing myself to get distracted with a game I play (cybernations). My total for the week wound up being a whopping +.18%

I also just finished reading up on the basics of the new forex leverage regulations. After reading a few articles on the subject the best one I found was from forextv (click here for link). I agree with the overall feeling of anyone trading at or above 50:1 leverage won't be trading for much longer (it's really stupid to be trading like that). On the flip side I feel the regulation shouldn't have been made. The reason I feel this way is becuase of the pricipal of the government knows what is best for you and I. Is someone really stupid for trading at 50:1 or higher? Yes! Will they likely loose all of their money quickly? Yes! Is a firm really stupid and wrong to be taking advantage of people with 50:1 or greater leverage? Yes! However, this doesn't mean the government should be telling us what we should be doing with our businesses and/or personal decisions.

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