US Financial reform bill

[Libanex]

Does anyone know if the new US Financial Reform Bill have any implications regarding the Foreign exchange spot markets in the US ?

[capsmart]

From what I know they will reduce leverage but you could easily open an account in Europe and avoid all problems.

[Libanex]

Thank you. Who do u trade with?

[raa]

BTW, how much leverage do you need to trade with responsible money management strategy? I keep thinking 1:5 should be enough. All those 1:100, 1:200, and even 1:400 are simply the road to poorhouse in one short moment.

[capsmart]

Alex I agree with you. More than 1:10 is stupid.
Libanex I have several live accounts. I think Oanda is a good one. Fast execution but no MT4. I also have Alpari, IBFX and FXCM. They are all ok for me. As long as you do not do scalping you should not have problems with any of them. Spreads also vary but when you are looking for a profit of 30 or 40 pips per trade 1 or 2 pips will make no difference.

[raa]

I also have Oanda, it is great, but like you say no MT4, for me the only disadvantage is not being able to run a trade management EA. BTW, only possible exception to a usable leverage rule, is the way Dean trades: he doesn't put all his trading balance in account, instead he keeps the total in mind, and only keep balance good enough to sustain several losses, and support required margin. In the light of margin required, this approach definately benefit from having a higher leverage. This is why his MM2.1 EA has a trade risk amount parameter, instead of percentage of available margin/balance. I think this is a very good and cautious approach. I plan to replicate it as well!

[Jason Mraz]

Hi! thanks for your reply
Americans people are vey much known about how to comes money in market ,They are always trying to money don't keeps in one hand, economy likes the weather. It comes in cycles. We're all responsible for the recent economic bust. A free market economy will correct itself. These reform initiatives from the government at best will slow the recovery. At worst, will bury us so far in debt that money will never flow for the finer things in life again. Government always hops about his citizens how the citizen can't implementation money in bad way.
Regards,
Jason Mraz