Is it a fair business ?

[MickMason]

Originally posted by autofx

I haven't heard of a trader getting shut down because he was
too good.

lol, with your trade signal service performance lately I very much doubt you or your two subscribers will ever need to worry on that score

Mick

[PittsburghFX]

Originally posted by MickMason
Getting taken off auto execution is no picnic, and it soon puts a stop to scalping and sniping at spikes! Dip your fingers in the marketmakers till and you'll lose 'em, they don't like it!

PittsburghFX, if it's not giving too much away, in what capacity were you working at FXCM?

Mick

Well first and foremost, I was in sales. I can talk a mile a minute and know what I am doing so I signed accounts up left and right. Had over a 75% conversion rate. Sweet, but I was paid salary, so I didn't make any huge money. I made a living. While at FXCM, they basically had all of us do 2 or 3 constant projects. I Chose the FX Powercourse project and Dealing Procedures. Even at the sales desk we had access to everything with a Read Only Access. There were some places though, you had to be in the room to see. I got to go in the dealing room on calm days and Friday. That was Pizza day! That was sweet!

I really miss FXCM and working in the Industry, but when your wife is miserable, you will do anything......anything to make her happy. Plus I did hate NJ and NY, no offense to anyone, but it didn't fit my old fashion country values. I am more of a cowboy than a city slicker. I was tired of wearing a suit and tie. I trade now in my dockers and golf attire.

[PittsburghFX]

Originally posted by autofx
Would be so curious to somehow find out how many successful
fx scalpers there are.

Guess not many if they get shut down as PittsburghFX claims.

Dude,
I was the guy on the other end of the phone. That was not fun. My friend did it for a few months and then couldn't take it anymore and found another place to work. Its very emotionally rough.

[autofx]

Meaning you were telling the scalpers you couldn't keep them
as customers, or what?

[Tekunda]

Pittsburgh, let me ask you something then.
I recently discovered a website called eurusdtrader.com which, until recently, has specialized in a highly sophistacted way (as you will see when visiting the site) trading the news only and making him and his subscribers a fortune.
Since the new restrictions were applied they will not trade the news lanymore ike they did for years, but when I read what you write, I wonder that these guys have survived for years and were not taken off auto execution. How come?
Maybe as a former insider you will be able to explain something else. This site is even having a value code for the news numbers telling their members how to trade if the numbers are off such and such percentage.
Now how can this work in reality? Once the numbers are being released to the public, the move has already exploded. In my opinion this can only work, if they had access to the numbers earlier than us regular guys. Is that possible, and what is your take on that site?

[PittsburghFX]

Originally posted by autofx
Meaning you were telling the scalpers you couldn't keep them
as customers, or what?

I would explaining what the messages said about dealer intervention. When you trade it is executed instantly, thats automatic execution. Dealer intervention can take more than 15 seconds to get filled. Thats a big difference if your trading NFP man.

[PittsburghFX]

Originally posted by Tekunda
Pittsburgh, let me ask you something then.
I recently discovered a website called eurusdtrader.com which, until recently, has specialized in a highly sophistacted way (as you will see when visiting the site) trading the news only and making him and his subscribers a fortune.
Since the new restrictions were applied they will not trade the news lanymore ike they did for years, but when I read what you write, I wonder that these guys have survived for years and were not taken off auto execution. How come?
Maybe as a former insider you will be able to explain something else. This site is even having a value code for the news numbers telling their members how to trade if the numbers are off such and such percentage.
Now how can this work in reality? Once the numbers are being released to the public, the move has already exploded. In my opinion this can only work, if they had access to the numbers earlier than us regular guys. Is that possible, and what is your take on that site?

To be honest I do not know of this company or people involved. What I can say for a fact and guarantee my life with, is if there is flashy stuff wanting to get you to buy its service be weary.

Also, if this person got away with it, they no longer will be. In a trending market, of the past 2-3 years, trending like nothing else. It was great, there was not much of a big deal for pickers and scalpers because the market makers could make that back from there own positions. This up and down choas, no one knows anything and will look to see who is picking.

If you trade with any good company you will know there good if they put you on manual, period. All the big boys have to do this. They have snipers waiting to pick them at off Interbank market prices and it makes them lose. I am not aware of other competitors, but I talked to clients, who kept shopping around with us to see if we would put him on manual. One guy had an account with every competitor there is and ALL put him on manual, so this is realistically impossible. My newsletter doesn't even touch the short term trading like picking, I am not interested in any lawsuits.

I have figured some ways around it, but at the same time, I am giving up allot in order to do it, so life is a give and take.

[jasperforex]

Originally posted by Tekunda
Pittsburgh, let me ask you something then.
I recently discovered a website called eurusdtrader.com which, until recently, has specialized in a highly sophistacted way (as you will see when visiting the site) trading the news only and making him and his subscribers a fortune.
Since the new restrictions were applied they will not trade the news lanymore ike they did for years, but when I read what you write, I wonder that these guys have survived for years and were not taken off auto execution. How come?
Maybe as a former insider you will be able to explain something else. This site is even having a value code for the news numbers telling their members how to trade if the numbers are off such and such percentage.
Now how can this work in reality? Once the numbers are being released to the public, the move has already exploded. In my opinion this can only work, if they had access to the numbers earlier than us regular guys. Is that possible, and what is your take on that site?

It would be nice but they don't have any early access. Trading news can be easy but I guess you have to be shown how to do it. You don't just sit down 1 minute before it, and hope for the best. Ok that's fine with straddling or options but not if you plan to do a normal fx trade on the news. There are certain things you need to know like expectations and positioning as well as sentiment, general and specific. All of this helps you decide what is required to spark a tradable move.