Dukascopy Afternoon Forex Overview

Dukascopy Afternoon Forex Overview

Disclaimer: the data made available by Dukascopy (Suisse) SAis for informational purposes only. Publication of this data by Dukascopy (Suisse) SA does not constitute provision of investment advice and Dukascopy (Suisse) SA assumes no responsibility with regard toany information, forecast or recommendation herein contained and assumes no responsibility with regard toany losses resulting from any activities conducted the basis of this data, including any investment decisions.

Dukascopy Afternoon Forex Overview

A couple new developments which are worth mentioning.

BroCo Investments-

Broco is merging their Broco Trader and Broco Investor platforms soon. Variable spread Currenex based prices will appear alongside Broco Trader’s fixed spreads.

Also Broco’s Russian Roulette trading contest is starting tomorrow morning you have 24 hours to make as much money as possible on their Broco Trader platform, and can win up to $1,000 for it.

http://www.brocompany.com/contest/rr/register/?br=12364

Dukascopy SA-

Dukascopy has released the beta of MT4! Also they have reduced the minimum investment to $5,000 and plan to reduce the minimum further in the future. You can request a demo by clicking below. You will have to request one demo then on the confirmation page request the beta, check the MT4 box and resubmit the demo request.

https://demo-login.dukascopy.com/fo/register/demo/?profile=level2&ref=http://forextradersinc.com/contact_confirmation_dukas.htm&referer=220&cc_email=scott@forextradersinc.com

By now you probably heard that NFA and CFTC plan to implement new code which will effectively nueter the FX market in the US. Thank god our firm is offshore and so are our brokers, even so this draconian regulation bothers me so much I took the time to look it over and pick out the parts that really rubbed me the wrong way.

d. Regulation 1.46 – Application and closing out of offsetting long and short positions.
Like FCMs engaging in on-exchange futures and option transactions under the existing regulation, RFEDs and FCMs engaging in off-exchange retail forex transactions would be required to close out offsetting long and short positions in an off-exchange retail forex customer’s account. But unlike existing Regulation 1.46, the requirement on RFEDs and FCMs engaging in off-exchange retail forex transactions to close out offsetting positions would apply regardless of whether the off-exchange retail forex customer has instructed otherwise.54
54 NFA’s experience supports the conclusion that keeping open long and short positions in a retail forex
customer’s account removes the opportunity for the customer to profit on the transactions, increases the fees paid by the customer and invites abuse.
WOW I should show those boneheads at NFA some client statements!

Regulation 5.7 An amount of minimum net capital in addition to the minimum $20 million is proposed to the extent that an FCM or RFED has a total retail forex obligation in excess of $10,000,000. After that threshold, as proposed the FCM or RFED must have net capital of no less than $20,000,000 plus five
percent of the total retail forex obligation in excess of $10,000,000. This proposal is intended to address concerns that, although the capital level contained in the CRA is believed to be high at $20,000,000, at particularly high levels of retail customer obligations there should be commensurate increases in an entity’s minimum required net capital. The NFA has enacted a similar requirement applicable to all its forex dealer members except those that only provide “straight through processing.” The Commission’s proposal has no exceptions for FCMs engaging in off-exchange retail forex or for RFEDs.
If your broker does business the right way, passes trades on to banks and as a result doesn’t have $22,000,000 needed they are out of business

8. Proposed Regulation 5.9 – Security Deposits for Retail Forex Transactions.
Proposed Regulation 5.9(a) would require each RFED and each FCM that engages
in retail forex transactions, in advance of any such transaction, to collect from the retail forex customer a security deposit (in cash or in financial instruments that meet the requirements of Regulation 1.25) equal to ten percent of the notional value of the retail forex transaction, ten percent of the notional value of short retail forex options in addition to the premium received, or the full premium received for long options, as the case may be.
Here is the 10 to 1 leverage rule

19. Proposed Regulation 5.22 – Registered Futures Association Membership.
In addition to registering with the Commission, the CRA provides that RFEDs and persons who provide retail forex trading advice, operate retail forex pools or solicit retail forex customers or accounts must also become members of a registered futures association.
the NFA says MO MONEY MO MONEY we are not talking
about futures here!
14. Proposed Regulation 5.17 – Authorization to Trade.
Proposed Regulation 5.17 requires RFEDs, FCMs, IBs and their APs to have specific authorization by the customer before effecting a retail forex transaction. For the most part, proposed Regulation 5.17 follows existing Regulation 166.2 for on-exchange futures and commodity option transactions. The Commission believes that registrants acting as off-exchange retail forex counterparties should have to obtain authorization for each transaction like other registrants.
So much for managed accounts! Your trader must call you at 3 am to trade! Forget about using a remote controlled EA as well!

A. Regulatory Flexibility Act
The Regulatory Flexibility Act (“RFA”)97 requires that agencies, in proposing rules, consider the impact of those rules on small businesses. They go through each classification and claim due to required deposits or that the fees for registration are not going to hurt small businesses. Hmm, I guess they didn’t consider the businesses who couldn’t make the deposits or the 10 to 1 leverage or the lack of being able to manage accounts properly as hurting small business.

B. Paperwork Reduction Act They want to increase the amount of paperwork…  hundreds of thousands of hours of paperwork per year

To complain about any of these proposed rules or the others contained in the 193 page PDF ( mostly the proposed code)

DATES: Comments must be received on or before [insert date 60 days from publication in FR].
ADDRESSES: You may submit comments, identified by RIN 3038-AC61, by any of the following methods:
• Federal eRulemaking Portal: http://www.regulations.gov/search/index.jsp. Follow the instructions for submitting comments.
• E-mail: secretary@cftc.gov. Include “Regulation of Retail Forex” in the subject line of the message.
• Fax: (202) 418-5521.
• Mail: Send to David Stawick, Secretary, Commodity Futures Trading Commission, 1155 21st Street, N.W., Washington, DC 20581.
• Courier: Same as Mail above.
All comments received will be posted without change to http://www.cftc.gov, including any personal information provided.

Before the New Year ten lots in CFD futures are for free!

For all Broco Customers there is a New Year Special Offer for the period from December 15 till December 31. Broco will cover all fees for the first ten lots in CFD futures contracts! Thus you will get only the profit without any costs!

If you will close the trading in CFD futures for the summary volume of ten lots (or more) during the indicated period, then Broco will cover all fees for the first ten trades. It does not matter which CFD instruments will be traded, the only important thing is that the summary volume of specified trades would be minimum ten lots. And of course, mini- and micro-contracts trading will be recognized as well — if the summary volume of such contracts is ten full lots, you will get the fees covered!

The amount of fees compensation will be transferred to the Clients’ live trading accounts as cashable funds in the period from January 01 till January 05, 2010.

Earn the profit on CFD with Broco!

Please note, that it is a question of full lots, not the deals. If you will trade in more than ten lots, you will get the compensation of fees for the first ten of them.

We would like to remind you that the New Year special offers and pleasant surprises from Broco are still taking place! On December 11 a special offer has started, under which every Broco Customer is going to receive a gift deposit to the trading account: you will receive the bonus at the amount of 10% of the difference between the amount that your are depositing and the amount that your withdrawing. This special offer is valid until December 31.

Close to the New Year — only the comfortable trading and no cost!

As many traders wind down for the holidays the U.S. dollar is getting a much needed boost by the pressure we have put on Congress to scrutinize their spending and that of the Fed Reserves activities. Bernanke’s claims of ending the “quantitative easing” (printing money) as he sought reappointment to the chairmanship of the Fed helped to shore up the dollar in recent sessions. We shall see if now that he has been given a pass by the Senate if he follows through with this or if his organization will continue to loan money into existence at record levels.

Meanwhile stocks took a beating today on the Dow composite and zombie banks like Citigroup are drooling on themselves wondering who will bail them out if not the Fed. Without the “quantitative easing” this suckers rally wouldn’t have occurred and it seems that traders are securing profits on this Fed inspired rally while they still can. If the trading range of the Dow is broken to the downside, we could very well see additional gains in the dollar in the coming weeks. Last year we witnessed a dollar rally on the back of the stock meltdown. This year we saw the injection of the funny money which brought stocks up and the dollar down. Again, if Bernanke word can be trusted (it can’t) and the printing press is shutting down expect to see a rally in the dollar and another crash in stocks, at least in the financial sector.

The third factor to consider is the Climategate situation, where we have communists like Hillary promising to give $100,000,000,000 A YEAR we don’t have to “developing” nations (read transfer of wealth) to help them reduce emissions of naturally occurring compounds. The sad truth is, the people who are supposed to be serving us in government are swearing their allegiance instead to global socialist governance through the UN. The only way to accomplish that is to sabotage the U.S. economy and the U.S. dollar which will bring America to it’s knees. Which is exactly what Bernanke and Obama have been doing. Now the CFR’s evil offspring, the Crap and Trade conference and the U.N. itself are in position to make the new world order reality with our sitting president also president of the U.N. which by the way is illegal according to the constitution he was elected under. By the time he is done with his subversive activities, We will be longing for the days of JR who if nothing else knew when to tell the U.N. to go stuff themselves.

A fellow trader brought to my attention the following:

There is a bill being proposed that intends to put a 0.25% tax on trading
transactions (on the ES contract, if trading at 1000, this
would be $125.00 per side!). Passing of this bill would pretty much
destroy all trading, make the markets illiquid, cause the loss of
untold jobs and would make the markets susceptible
to crashes.
Please make your voice heard by going here to vote against this
bill:

http://www.rallycon gress.com/ greentradertax- traders-associat ion1/2644/ save-traders- jobs-do-not- enact-financial- transaction- tax/

This site will send letters to your congress person and senators
either by email or mail (your choice).

This is an important issue make sure you act in an effort to stop
such foolishness from passing.

It’s no secret that the banksters have re-inflated the market will all the generous “loans” the Federal Reserve has given them, creating the money by simply loaning it into existence. Traders around the world know this, which is why we see the dollar taking a beating. Between the money being loaned into existence for big brother ( treasury and government agency bonds the fed buys since no one else will) and the funds being loaned into existence and given to the banks who own the Federal Reserve, we are talking TRILLIONS here.

So when you see the Dow taking off and the commodity prices skyrocketing remember it’s not because business is booming or commodities are in short supply, it’s because of inflation. Inflation is not a rise in prices, it is an increase in the supply of money and one of the side effects of that is higher prices that many people ignorantly point to as inflation itself.

if your in the stock game keep this in mind, because what the banks giveth the banks taketh away.