AIN’T GONNA TAKE IT

                                                 Ya Think?

Over the last couple of years far too many brokerage houses have said one thing, then turned around at crunch time and caused me many problems. Here is a list of brokerage houses/banks, and the reason for me leaving;

1)      FX Open – got rid of all U.S. clients,

2)      Saxo Bank – irregular options pricing and off market fills,

3)      All U.S. based brokerage houses – idiotic CFTC & NFA rules on leverage, and other things [like Frank-en-Dodd regulations], as well as a tendency to go bankrupt and screwing customers out of their hard earned money,

4)      Hot Forex – got rid of all U.S. clients, but also had issues with requotes and stops,

5)      Forex FS – changed rules on PAMM accounts and lowered payout, along with sub standard customer service.

Well, you can now add to this list Forex-Metal. While I haven’t closed my account yet, it’s only a matter of time [meaning within the next couple of weeks]. I simply cannot do business with a brokerage house that a) lies to me, and b) refuses to contact me in a timely manner when I have a problem. This latest clusterfark started last Wednesday; it’s now the following Monday, and still all issues have not been resolved because they have refused to call me.

Over the last 3 business days [Thursday (not a Holiday outside the U.S.), Friday, and today] myself and the staff have literally beat the bushes talking to over a dozen offshore [meaning outside the U.S., and not necessarily a “tax haven”] brokerage houses that accept U.S. clients. I have found one, I think, that is acceptable to me. We’ll see in the following days.

I’m also looking into different ways to present trading signals for traders that doesn’t involve exorbitant fees and large trading spreads. So, we’ll also see how that turns out in the days ahead.

The biggest problem we are facing is the fact that at least 80% of most brokerage houses outside the U.S. want nothing to do with U.S. clients. They have made a business decision not to mess with anything that has U.S. in it. Thank you President Gobbels.

Fortunately, I see light at the end of the tunnel; I think we will be able to get something started that involves 1) extremely low spreads, 2) trading signals, 3) verified track record results for the public, and 4) the flexibility for you to decide which methods you think best for you and then use them.

It’s not all tied up yet, and I haven’t yet finalized all parts of the equation, but rest assured we will have the best solution where most people can easily choose the best option for themselves.

What it finally comes down to, is that I refuse to be lied to, and I refuse to accept corporate “happy talk” as a solution. When you consider that their primary job [at any brokerage house] is to keep you trading no matter what, you then realize they will tell you anything and everything to keep you there. Once they break the trust you have placed in them, it’s over for me.

So, be of good cheer, as solutions are at hand, and stayed tuned in the days ahead as we go forward. Trading is hard enough; following the algorithm is hard; having to deal with brokerage house issues shouldn’t be part of the process; and when it is, you have to do something about it.

When I look at the algorithm signals from last week, I should have made a bundle of money; instead I’m down a few bucks, and it makes my head want to explode because brokerage house issues dominated the week and prevented me from getting long on a price explosion upwards. Oyyy !!

Since I have spent so much time the last 5 days dealing with this, I have intentionally delayed answering reader emails. I checked this morning, and I have about 50 emails to go through; if one of them is yours I will get to it in the next day or two; just wanted you to know.

Have a great day everyone.

-vegas

WHADDAYA GONNA DO?

                                   If Forex-Metal Were A Car

WARNING!! This post contains floor trader talk from my days in the pits. If you find cursing objectionable, then leave now and come back tomorrow. My head is about ready to explode.

It all started innocent enough early on Wednesday; we got long GBPAUD and started to wait. The problems started when I went to change my stop level.

Dealer: “Ummmm yea, I don’t think I’m going to let you do that; you can’t change your stop.”

Me: “WTF is going on?”

So instead of changing the stop level, I now want to cancel my stop entirely.

Dealer: “Ummmmmm yea, you can’t cancel it either; I don’t want to let you cancel your sell stop. [Hint: I may need it later for my own purposes.]

Seriously folks, at this point I am totally incredulous that the platform will not allow me to change or cancel a sell stop. Why? What possible purpose could there be for these actions? Well but of course, the dealer is getting ready to run the stops and he needs sell stop orders below the market in order to get long. [And by proxy of course the brokerage house has no problem with this because they are most likely getting a “rebate” for allowing it to happen.] Some biz world we live in isn’t it?

You think I’m pissed yet?

At this point, the plum/yellow lines are crossing and I go to liquidate our long position. However, after I click the liquidate position button, our positions are not liquidated and closed; no, the fucking asshat dealer instead gives us a new short position. We are now hedged!!

[As I told the morons at Forex-Metal later; don’t fucking insult my intelligence by suggesting I hit the sell button instead of the “close position” button. I know the difference.]

OK, NOW I’m pissed!!

This sets off a chain of events that still hasn’t been totally resolved even after 3 days.

Meanwhile, the market turns on a dime and starts rocketing upward, the plum line easily passes over the yellow line, and so it’s time to get long again, even though I’m still hedged up on the first position.

When I click the buy button at market execution, here is the following message I get from the order box [meaning the dealer of course]. “Your order is outside the requested quote, please try again.” After I “try again” about 15 times and get the same message, guess what?

AM I PISSED YET?

So, bottom line is I’m hedged up on one position and the dealer won’t allow me to get long either. What the fuck am I supposed to do here? Sorry for the French, but I’m really at a loss to explain this, except to say my thoughts about Forex-Metal are that I wish I was the bird making the deposits.

Now, Forex-Metal [FM] tells me 3 things which you will be interested in; 1) the stops issue is due to a “freeze zone” they have in effect for Replitrader accounts, 2) I am wrong and I hit the sell button by mistake instead of the close position button, and 3) I am hallucinating with respect to the re-quote issue because there is “no way” I can get re-quoted on a market execution order. Wanna make a bet?

Did I or anybody know they [FM] had instituted a “freeze zone” for Replitrader accounts? When did they inform me of this? What is the scope of this zone, and who sets it? Why was I not informed this was in effect?

 

Please, I’m NOT Stupid

When you sit back and think of this, it’s pure bullshit. When you arbitrarily set a zone of pips away from an existing position that nothing can be done once set into motion, you invite the dealer to screw you by not letting you out of your position until he can take financial advantage of you. Why would a brokerage house allow this? Hint: only if they had a financial interest in the outcome with the dealer.

It wasn’t until early this morning that I was satisfied, after talking with FM, that the order tickets wouldn’t be screwed up beyond recognition. I had earlier refused to allow them to make adjustments, telling them, “you guys have done enough damage already”.

In a week that the algorithm really performed well, raking in huge profits, we lose a few bucks due to brokerage house shenanigans. Losing $40 - $50 bucks doesn’t concern me as much as the behavior of FM. They are using the Thanksgiving Holiday as cover, blaming it, as the reason nobody has adequately responded to my concerns going forward.

We’ll see what they say on Monday, but as of right now, I’m definitely not a fan of the way they have behaved and responded to us.

I have instructed my staff [starting today] to scour planet earth for offshore brokerage houses that can meet our standards and expectations. Stay tuned everyone.

So, I sit here and the only thought that keeps popping into my mind is, “Whaddaya gonna do?”

Have a great day everyone.

-vegas

EYES WIDE SHUT

                                         Go Grab The Money

I’ve got all the data I need; my trusted staff burning the midnight oil to get the job done per my instructions. It’s now a matter of me putting it together in a file and making it available to you. I will try and get it released in the next couple of days, but it might be as long as a week. I’ve got a lot of information to show you.

This new file will be the “-vegas Big Bang Algorithm” utilizing a longer time frame than the original file in “-vegas For Life”. You can use this algo to trade any Forex pair or CFD's. I specifically lay out 2 trading instruments that offer the very best probabilities for profit and have done so for many years.

In the file, I will go into detail on one of these that I believe is the very best instrument you can trade and make money. The probabilities for profit should make your eyes water and the hair on your arms stand up.

Since we are utilizing a longer time frame for analysis, you can come to the market on your own time terms and trade with confidence. Obviously though the more time you are in front of your computer the better your results will be. The original algo pretty much requires you to be there at the open and act accordingly.

Now, I realize that some of you are resistant to change, or have your favorite pair to trade, and that even getting you to look at something besides EURUSD, or some exotic cross like South African Rand / Mexican Peso, is going to require me to open your eyes.

I know many of you are absolutely hungry for a way to make money in the marketplace, and that you have searched and searched, spent money on worthless crap, and are seriously skeptical that anything can help you. As I have said before, don’t trust me; take the time to look at the file and judge for yourself. The original algo will make you money; for many of you this longer time frame will be [for whatever reason] a better alternative.

But seriously, WHY ARE WE HERE?

I’ll trade dirt futures if that’s the place to be because for me IT’S ALL ABOUT THE MONEY. I want to make the most money, in the shortest time possible, with the highest probabilities for success that are in a liquid marketplace.

If you can follow directions [which is a big if], it is damn near impossible to lose money over time in the 2 instruments I highlight in this new file.

Ultimately, it’s up to you. Open an FX Replitrader account with Forex-Metal [no fees] or do it yourself; the choice is yours. But don’t sit there and do nothing; because if that is your choice, your eyes may be open, but they are in reality shut.

Have a good day everyone.

-vegas