q**j
发帖数: 10612 | 1 got it from a blogger:
Currency Trading
Posted: 03 Apr 2011 02:52 PM PDT
I can’t think of an area of investing individuals know less about than
currencies. (As an aside: We are currently writing a paper on currency
investing strategies…)
Today there is an article in the LA Times on currency trading (note: I didn
’t say investing). FXCM and Gain are the two biggest brokers with a
combined 260,000 accounts. Roughly 75% of customers lost money every
quarter (both are public and have to disclose such stats to the CFTC). This
is exacerbated by one simple metric: 50 to 1 leverage (that is down from
100-1 of a few years ago but still 25 times leverage allowed to stock
traders). You can also make a deposit by credit card.
The business model for forex trading is to burn the customer and then find
another one,” said Larry Harris, a USC professor and the former chief
economicst at the SEC.
Gain ending up making an average of $2,913 from every active trader it had
last year, even though the average bustomer account contained only $3,000.
FXCM was $2,641 and $3,658.
Michael Greenberger, a University of Maryland professor and head of trading
and markets at the CFTC said, “Once you have things that are done off
exchange you are pretty much at the mercy of the dealer – telling you what
the price is,telling you what you owe. Anybody I cared about – I’d say,
‘Stay away from this.’”
CFTC chairman Gary Gensler recently said it was the “largest area of retail
fraud” his agency oversees.
Investor beware. | j*a
发帖数: 14423 | 2 NYSE:FXCM
P/E 1,606.17
牛啊！
didn
This
【在 q**j 的大作中提到】
: got it from a blogger:
: Currency Trading
: Posted: 03 Apr 2011 02:52 PM PDT
: I can’t think of an area of investing individuals know less about than
: currencies. (As an aside: We are currently writing a paper on currency
: investing strategies…)
: Today there is an article in the LA Times on currency trading (note: I didn
: ’t say investing). FXCM and Gain are the two biggest brokers with a
: combined 260,000 accounts. Roughly 75% of customers lost money every
: quarter (both are public and have to disclose such stats to the CFTC). This
| s******v
发帖数: 4495 | 3 总之，我自己的经验，外汇投资的host基本上以骗为主，
than
currency
I didn
CFTC). This
【在 q**j 的大作中提到】
: got it from a blogger:
: Currency Trading
: Posted: 03 Apr 2011 02:52 PM PDT
: I can’t think of an area of investing individuals know less about than
: currencies. (As an aside: We are currently writing a paper on currency
: investing strategies…)
: Today there is an article in the LA Times on currency trading (note: I didn
: ’t say investing). FXCM and Gain are the two biggest brokers with a
: combined 260,000 accounts. Roughly 75% of customers lost money every
: quarter (both are public and have to disclose such stats to the CFTC). This
| h*****f
发帖数: 248 | 4 FX attracts all the big sharks because it is the largest liquidity market.
It is not impossible to make $$ but a lot harder than other asset classes. | w******l
发帖数: 455 | 5 外汇本来就不是投资，叫“speculation” | h*****f
发帖数: 248 | 6 Umm...if you know what you are doing, it isn't really speculation.
If all prop trading firms, hedge funds and banks were speculating, then in
probability wise, the end users could have close-to 50-50 chance (of course,
being a market maker always has some edges over the end users) of beating
them out. | h*****f
发帖数: 248 | 7 Actually, when you make too much $$ out of a counterparty, the counterparty
will call your flow toxic and then request the ECN to remove you.
Hence, actually, end users sometimes are smarter than the makers. |
|
