Is there any broker who is happy, even if you consistently win?

[FXGenius]

Hello,

I wanted to ask the question "Is there any broker who is happy, even if you consistently win?" in the following scenario:

a. Suppose you perform 3-10 winning trades a day
b. You risk 10% on each trade
c. Your trade lasts 15 minutes to 3 hrs
d. You draw 50-80% of your winnings every week
e. Your account grows exponentially

[TraderABC]

Originally Posted by FXGenius

Hello,

I wanted to ask the question "Is there any broker who is happy, even if you consistently win?" in the following scenario:

a. Suppose you perform 3-10 winning trades a day
b. You risk 10% on each trade
c. Your trade lasts 15 minutes to 3 hrs
d. You draw 50-80% of your winnings every week
e. Your account grows exponentially

If you are the only one, they may publicise your success in order to attract more greedy people (who might lose)...

Only if there are many people like you and only if brokers play against you, only then they may dislike you... Also for marketing purposes you may be worth it...

[CrazyHorse]

If I was a broker and had a successful client I'd be duplicating his trades on the Interbank market and making a fortune!
Now, after R e f co I believe that there are no winners in FX, either that or they had all the loser clients.

Sorry, have been away from the forum for ages, I guess there could be a thread about this logic already.

[FXGenius]

TraderABC, thanks for your reply. I trade with Interbankfx and so far so good, but I don't know what the future holds, specially in presence of stories like Refco, FXCM etc.

I am now taking fx trading seriously, to make it full time career. But it would be a waste of lots and lots of energies, time, effort and money, if after speding so much, these devils try to make us loose or steal us from your very hard earned money.

I also think that if you really put so much into this business, you must have accounts with more than 2 brokers and divide your whole equity among them, so that if you have trouble with any one of them, you can kick him and keep trading with others.

[TraderABC]

Originally Posted by FXGenius

I am now taking fx trading seriously, to make it full time career. But it would be a waste of lots and lots of energies, time, effort and money, if after speding so much, these devils try to make us loose or steal us from your very hard earned money.

Considering how 90-95% (if we believe those numbers) of people fail, I don't see how those that succeed really hurt the brokers. I don't have all the facts that brokers play against you either (I'd love to have inside info). Besides the winning traders would serve as great marketing ploy for brokerts to use. Why do you think they run all these contests? Not only to encourage people to overleverage and lose, but also to have an excuse to publish high results to attract new clients.

I also think that if you really put so much into this business, you must have accounts with more than 2 brokers and divide your whole equity among them, so that if you have trouble with any one of them, you can kick him and keep trading with others.

That would be a good idea when you have large amount of money. And please avoid US, or even swiss banks, and maybe even storing money in USD could be bad.
USD and Swiss are bad currency in the long term (due to the fact that US government CAN freeze all your money without excuse). JPY is unstable, Euro can disappear (european union can collapse easily due to certain ethnic groups clashing with each other), or GBP can become part of Euro (doubtfully, but the possibility is there), so one of the safe currencies would be Loonie which is rising and will rise.



Wth today's internet, brokers have to be careful not to scare anyone off with outrageous moves (such as bankrupcies) so I don't beleive that they could get away with outrageous things (refco might have been one of few exceptions) and they don't really need to. Remember all the emails from various brokers after the Refco story? I did get atleast one email after Refco telling me how my broker is safe, blah,blah.

[cornellj]

FXGenius

Your plan with spreading your funds through a number of brokers is good practice.

If you go further and use these accounts to hedge one another you are doing even better.

Do not make your intentions known to any broker because in "tipping your hand" they can pre-empt your plans which could possibly lead to losses for you. I have mentioned before that in essence the Brokerage is your "enemy" because they can use a variety of mechanisms to get you out of a trade with a loss. If they do not know your plans beforehand they can not do so.

They are also your "friend" in that they supply the way by which we can participate in this market with very little money.

Whether you see them as friend or foe be careful and keep them guessing (CYA).

[Ogeima]

Originally Posted by FXGenius

Hello,

I wanted to ask the question "Is there any broker who is happy, even if you consistently win?" in the following scenario:

a. Suppose you perform 3-10 winning trades a day
b. You risk 10% on each trade
c. Your trade lasts 15 minutes to 3 hrs
d. You draw 50-80% of your winnings every week
e. Your account grows exponentially

Yes, there is, but in forex there are very few -if any? The brokers that are happy whatever your results are, are those whose service to you is solely to transmit your order, for a commission. For example, a futures' broker couldn't care less whether you make profits or losses, as long as you keep trading through them: they send your order to a centralized market, and pocket in a commission in the process for that job.

[newspring]

I don't understand. I thought the brokers should be happy making the profits from the spreads?