I have not seen or touched the iPad. I may or may not read more and my iPhone seems fine for music. BUT, there is no doubt that the web will be a better experience and I will speculate with all my heart that the Financial Web is about to be transformed.
Moods Drive Markets. The iPhone changes moods. Life is not as bad with an iPhone. Life will be even better with an iPad….if you like losing money that is ☺ .
There are only a few companies that don’t make the financial industry look clunky and old. Interactive Brokers ($IBKR) is one of them. They have been daring from the get-go and if you are a professional trader, they are the Gold Standard. From their lack of human touch to their ‘Dutch Auction’ IPO, they have broken the mold.
It is IMPOSSIBLE that there will not be more Interactive Brokers.
Gambling, Social Gaming and Facebook all fascinate me. Mostly because I do not fully understand them yet.
The US is still fascinated with equities. That may never change, but in the flat world in which we live, Forex has come on strong. Bloomberg is writing about the fortunes to be made in Forex .
Forex markets are 24/7/365 and young people will appreciate them as they are used to things being open all the time on the web.
Because the markets are global and intertwined like never before we are seeing that NEWS does not conveniently break during market hours. The Forex markets and the software that drives them are in a fantastic position.
As costs and spreads come down even further, the winners in the Forex market will be those with the best execution, those most open and simple to use (get money in and out).
In the consumer world of the masses, execution will not matter as much as user experience.
As for fraud, Bernie Madoff had to eventually steal as he took in more money and was faced with performance stress. That is the professional market for you. Performance stress is why cost and execution matter most. There is no performance stress if you are trading your parents $100 at 40 times leverage against millions of others around the world for seconds at a time, knowing your upside and downside the minute you press ENTER.
In Israel I met with Yoni Assia, the founder and CEO of eToro. Since meeting him, I have seen the Forex light. This company seems like an unstoppable force of nature. If you don’t believe me, log on, open an account in a few seconds, and place your bets on your parents Visa card (not you Max!).
In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. They will be trading during class. There will be a million Jim Cramer’s. Though Jim Cramer seems tired and old to us ‘professionals’, the circus has just begun.
I have NO doubt that the iPad will amp things to a level not thought possible in the financial markets..
Will the average person make money….NO.
Will that matter…NO.
The business is about keeping the next generation trading longer. Get it yet?
I need a cold shower to temper my bullishness.
LOL, forex is basically a collection agency…i get too many emails daily from those who have lost in a game that was marketed as being easy and now they are in debt up to their eyeballs, some forex companies even offer credit cards….sick…dangerous…new tools and information lure these poor suckers in but the odds are even worse–one forex guy said 5 out o6 customer blow out their accounts in 6 months, no longterm business there unless you can profit off the misery of others…which forex companies seem to be doing
LOL, forex is basically a collection agency…i get too many emails daily from those who have lost in a game that was marketed as being easy and now they are in debt up to their eyeballs, some forex companies even offer credit cards….sick…dangerous…new tools and information lure these poor suckers in but the odds are even worse–one forex guy said 5 out o6 customer blow out their accounts in 6 months, no longterm business there unless you can profit off the misery of others…which forex companies seem to be doing
tim…what are you talking about.
thats like saying vegas will get shut down. it wont. more vegas’s pop up.
there is so much innovation coming to forex…how about I autofoolow the best traders..how about I learn macroeconomics while losing my 150 trading.
it is early freaking days so you should be thinking about the possibilities of good UI and education taking the 90 percent loss rate to 85 percent. what is wrong with that?
tim…what are you talking about.
thats like saying vegas will get shut down. it wont. more vegas’s pop up.
there is so much innovation coming to forex…how about I autofoolow the best traders..how about I learn macroeconomics while losing my 150 trading.
it is early freaking days so you should be thinking about the possibilities of good UI and education taking the 90 percent loss rate to 85 percent. what is wrong with that?
not saying it’ll get shutdown, the massive leverage is the problem…whats next 1000 to 1 leverage…we know there are new suckers every day, so business will remain, but huge growth does not possible…etoro isn’t even open to us customers, i’d rather focus on something socially beneficial where the potential is unlimited
the us loves stocks. forex is wasting time and money here for now. look
out your window beyond the harbor my man.
again – educate people that leverage will bust them
you are thinking about this as what is the past is the future.
UI will change all of it.
but educating people about the odds and leverage and u destroy forex’s main selling points…UI is important, but only if it can somehow hide the losses from the customers seeing them!
i bet you one dollar at 50 to 1 i am correct and guarantee you will want to
invest in my ideas for the space…:)
i bet you one dollar at 50 to 1 i am correct and guarantee you will want to
invest in my ideas for the space…:)
i dont use leverage nor do i place risky wagers but yes, i’m always interested in investing with your ideas, lets hear what u got! would love to invest in a forex police…or even a privatized SEC that can do the job the SEc should be doing…social good + innovation = fun
I agree with Tim on this one—call the police.
Forex is a playground for former brokers, trying to run scams on old fuckers in wheelchairs. The leverage is disgusting.
I agree with Tim on this one—call the police.
Forex is a playground for former brokers, trying to run scams on old fuckers in wheelchairs. The leverage is disgusting.
now i am more bullish than ever.
now i am more bullish than ever.
Tim and The Fly are right, this is a business filled with ex-brokers who were kicked out of the business, it is lightly regulated and heavily leveraged – a molotov cocktail.
but Howard is also partly right- it will absolutely get much bigger before it blows up. I couldnt find any public pureplays to play this financial Atkins diet fad, so maybe I’ll invest with the russian mob who are playing the retail forex demand like a fiddle right now.
:)
yes the russinas are deeply involved monetarily, but same with facebook and
zynga….hmmmm
:)
yes the russinas are deeply involved monetarily, but same with facebook and
zynga….hmmmm
Tim and The Fly are right, this is a business filled with ex-brokers who were kicked out of the business, it is lightly regulated and heavily leveraged – a molotov cocktail.
but Howard is also partly right- it will absolutely get much bigger before it blows up. I couldnt find any public pureplays to play this financial Atkins diet fad, so maybe I’ll invest with the russian mob who are playing the retail forex demand like a fiddle right now.
I agree with Tim on this one—call the police.
Forex is a playground for former brokers, trying to run scams on old fuckers in wheelchairs. The leverage is disgusting.
i dont use leverage nor do i place risky wagers but yes, i’m always interested in investing with your ideas, lets hear what u got! would love to invest in a forex police…or even a privatized SEC that can do the job the SEc should be doing…social good + innovation = fun
but educating people about the odds and leverage and u destroy forex’s main selling points…UI is important, but only if it can somehow hide the losses from the customers seeing them!
not saying it’ll get shutdown, the massive leverage is the problem…whats next 1000 to 1 leverage…we know there are new suckers every day, so business will remain, but huge growth does not possible…etoro isn’t even open to us customers, i’d rather focus on something socially beneficial where the potential is unlimited
The whole forex system is set up as a bucket shop SCAM for the retail trader. Unlike poker where you play against others (like stocks or commodities), and the house then takes a rake (commisions, spread, etc). A forex bucket shop is set up like a pit game where the retail trader goes head to head with the house, losing money to the tiny house edge in the form of the bid/ ask spread. High frequency and high leverage forex trading has to be the fastest way to the poorhouse for retail traders.
The forex brokerage system that we have now should be made illegal and all people who want to participate should be forced on to transparent exchanges like the CME where people can at least gamble against each other instead of the house. Forex is a fad and will fade out in the next 10 years due to its lack of transparency and winning traders.
I’m sure if we audited the books of a retail forex company we would find that only 1% of short term traders make money in the long run and the house ends up with most of the money. Remember in stocks and commodities the money is passed around and kept in play, its not sucked into a black hole.
The whole forex system is set up as a bucket shop SCAM for the retail trader. Unlike poker where you play against others (like stocks or commodities), and the house then takes a rake (commisions, spread, etc). A forex bucket shop is set up like a pit game where the retail trader goes head to head with the house, losing money to the tiny house edge in the form of the bid/ ask spread. High frequency and high leverage forex trading has to be the fastest way to the poorhouse for retail traders.
The forex brokerage system that we have now should be made illegal and all people who want to participate should be forced on to transparent exchanges like the CME where people can at least gamble against each other instead of the house. Forex is a fad and will fade out in the next 10 years due to its lack of transparency and winning traders.
I’m sure if we audited the books of a retail forex company we would find that only 1% of short term traders make money in the long run and the house ends up with most of the money. Remember in stocks and commodities the money is passed around and kept in play, its not sucked into a black hole.
thx abu. so IBKR, FXCM and anyone that offers forex is a bucket shop?
the drug industry seems to be doing well despite an extreme lack of
transaprency.
It would be interesting if forex houses could advertise and your statements
would run at the end of them. I would think the industry would just do
better.
The whole forex system is set up as a bucket shop SCAM for the retail trader. Unlike poker where you play against others (like stocks or commodities), and the house then takes a rake (commisions, spread, etc). A forex bucket shop is set up like a pit game where the retail trader goes head to head with the house, losing money to the tiny house edge in the form of the bid/ ask spread. High frequency and high leverage forex trading has to be the fastest way to the poorhouse for retail traders.
The forex brokerage system that we have now should be made illegal and all people who want to participate should be forced on to transparent exchanges like the CME where people can at least gamble against each other instead of the house. Forex is a fad and will fade out in the next 10 years due to its lack of transparency and winning traders.
I’m sure if we audited the books of a retail forex company we would find that only 1% of short term traders make money in the long run and the house ends up with most of the money. Remember in stocks and commodities the money is passed around and kept in play, its not sucked into a black hole.
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. They will be trading during class.”
this is so true– but you need a way to bridge the bank roll gap. right now college kids play online poker in class because you can go from $50 to millions. it takes a larger bankroll to open a brokerage account.
indeed. i did not say I had all the answers….yet
indeed. i did not say I had all the answers….yet
indeed. i did not say I had all the answers….yet
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. They will be trading during class.”
this is so true– but you need a way to bridge the bank roll gap. right now college kids play online poker in class because you can go from $50 to millions. it takes a larger bankroll to open a brokerage account.
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. They will be trading during class.”
this is so true– but you need a way to bridge the bank roll gap. right now college kids play online poker in class because you can go from $50 to millions. it takes a larger bankroll to open a brokerage account.
LOL, forex is basically a collection agency…i get too many emails daily from those who have lost in a game that was marketed as being easy and now they are in debt up to their eyeballs, some forex companies even offer credit cards….sick…dangerous…new tools and information lure these poor suckers in but the odds are even worse–one forex guy said 5 out o6 customer blow out their accounts in 6 months, no longterm business there unless you can profit off the misery of others…which forex companies seem to be doing
hey howard, congrats on the recent stocktwits upgrade! looks awesome and you guys are getting great press w/ it too.
can’t say i’m too familiar w/ the ipad either. i still haven’t looked into a kindle, nook, or any other kind of tablet. two devices are enough for me, my smartphone and laptop. but if devices get adopted by finance professionals – and maybe it will just take a bit more time, that’ll be a huge win for stocktwits – scanning any kind of content that mention stocks/markets and showing relevant ticker streams for them on the side.
thx sayem, it is fun so far for sure.
i believe devices will totally get adopted by finance people. ‘professionals’ is not a term i have that much faith in.
thx sayem, it is fun so far for sure.
i believe devices will totally get adopted by finance people. ‘professionals’ is not a term i have that much faith in.
thx sayem, it is fun so far for sure.
i believe devices will totally get adopted by finance people. ‘professionals’ is not a term i have that much faith in.
not saying it'll get shutdown, the massive leverage is the problem…whats next 1000 to 1 leverage…we know there are new suckers every day, so business will remain, but huge growth does not possible…etoro isn't even open to us customers, i'd rather focus on something socially beneficial where the potential is unlimited
the us loves stocks. forex is wasting time and money here for now. look
out your window beyond the harbor my man.
again – educate people that leverage will bust them
you are thinking about this as what is the past is the future.
UI will change all of it.
I’m going to throw a wrench into this post and say that equity/forex markets are just as likely to fall victim to technology in the next 20 years for 2 reasons:
1. Trust. The masses used to trust the markets. Now, most think they are rigged. That isn’t a great foundation from which to build a larger customer base
2. For the last 20 years, the stock markets and Vegas represented the only two mechanisms capable of delivering “action”. Most people can stay in Vegas all year round, so the markets were the predominant source of action. The web is changing all of that. The masses don’t love the markets, they love action. As such, the advent of massive, online, globally connected games giving the masses a chance to challenge each other, make money and get their injection of action will make it harder for equity/forex markets to grow their customer base.
By far, the biggest factor is trust. If the markets can re-establish trust, people will flock to it in droves. If the markets continue to remain tarnished, its customer base will look elsewhere for action. Online poker is just one great example of that.
Conclusion – Howard is right that technology is going to drive the masses and their money. I’m just not convinced the masses are going to flock to the markets. A wide open opportunity exists for someone to step in and create a trust-worthy, entertaining, potentially lucrative online platform from which the masses can derive action and gains.
Regards,
George
your wrenchs are duly noted by me and this discussion but the penny stock marlkets make forex look fair.
I’m not so sure about that Howard. The perception used to be that bigger markets = more secure. The last 2 years have unequivocally proven that bigger markets = bigger sharks. Penny stock markets have got nothing on scammers in Derivatives, Swaps and straight up big caps. Given the stakes, there is every reason to believe FOREX is or will be just as corrupt.
The Greek
thx dude.
your wrenchs are duly noted by me and this discussion but the penny stock marlkets make forex look fair.
your wrenchs are duly noted by me and this discussion but the penny stock marlkets make forex look fair.
I’m going to throw a wrench into this post and say that equity/forex markets are just as likely to fall victim to technology in the next 20 years for 2 reasons:
1. Trust. The masses used to trust the markets. Now, most think they are rigged. That isn’t a great foundation from which to build a larger customer base
2. For the last 20 years, the stock markets and Vegas represented the only two mechanisms capable of delivering “action”. Most people can stay in Vegas all year round, so the markets were the predominant source of action. The web is changing all of that. The masses don’t love the markets, they love action. As such, the advent of massive, online, globally connected games giving the masses a chance to challenge each other, make money and get their injection of action will make it harder for equity/forex markets to grow their customer base.
By far, the biggest factor is trust. If the markets can re-establish trust, people will flock to it in droves. If the markets continue to remain tarnished, its customer base will look elsewhere for action. Online poker is just one great example of that.
Conclusion – Howard is right that technology is going to drive the masses and their money. I’m just not convinced the masses are going to flock to the markets. A wide open opportunity exists for someone to step in and create a trust-worthy, entertaining, potentially lucrative online platform from which the masses can derive action and gains.
Regards,
George
I’m going to throw a wrench into this post and say that equity/forex markets are just as likely to fall victim to technology in the next 20 years for 2 reasons:
1. Trust. The masses used to trust the markets. Now, most think they are rigged. That isn’t a great foundation from which to build a larger customer base
2. For the last 20 years, the stock markets and Vegas represented the only two mechanisms capable of delivering “action”. Most people can stay in Vegas all year round, so the markets were the predominant source of action. The web is changing all of that. The masses don’t love the markets, they love action. As such, the advent of massive, online, globally connected games giving the masses a chance to challenge each other, make money and get their injection of action will make it harder for equity/forex markets to grow their customer base.
By far, the biggest factor is trust. If the markets can re-establish trust, people will flock to it in droves. If the markets continue to remain tarnished, its customer base will look elsewhere for action. Online poker is just one great example of that.
Conclusion – Howard is right that technology is going to drive the masses and their money. I’m just not convinced the masses are going to flock to the markets. A wide open opportunity exists for someone to step in and create a trust-worthy, entertaining, potentially lucrative online platform from which the masses can derive action and gains.
Regards,
George
but educating people about the odds and leverage and u destroy forex's main selling points…UI is important, but only if it can somehow hide the losses from the customers seeing them!
i bet you one dollar at 50 to 1 i am correct and guarantee you will want to
invest in my ideas for the space…:)
i dont use leverage nor do i place risky wagers but yes, i'm always interested in investing with your ideas, lets hear what u got! would love to invest in a forex police…or even a privatized SEC that can do the job the SEc should be doing…social good + innovation = fun
I get the drivers around Forex becoming crack-like for the younger, always on, real-time generation. But Howard, what does the iPad have to do with this? If this trend does manifest (I’m not convinced it will En mass), devices like the iPad and the many others that will follow will compliment it in my view-not ignite it.
i say ignite because the iphone is comfortable for most things except money transactions. I envision the iPad giving me more confidence visually in conducting financial transactions.
i believe visual plays a huge role.
i say ignite because the iphone is comfortable for most things except money transactions. I envision the iPad giving me more confidence visually in conducting financial transactions.
i believe visual plays a huge role.
I get the drivers around Forex becoming crack-like for the younger, always on, real-time generation. But Howard, what does the iPad have to do with this? If this trend does manifest (I’m not convinced it will En mass), devices like the iPad and the many others that will follow will compliment it in my view-not ignite it.
I get the drivers around Forex becoming crack-like for the younger, always on, real-time generation. But Howard, what does the iPad have to do with this? If this trend does manifest (I'm not convinced it will En mass), devices like the iPad and the many others that will follow will compliment it in my view-not ignite it.
i’m enjoying the good discussion going on here on a Saturday.
forex is obviously a fiery discussion, which means volatility and profits.
forex is obviously a fiery discussion, which means volatility and profits.
i’m enjoying the good discussion going on here on a Saturday.
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. They will be trading during class.”
this is so true– but you need a way to bridge the bank roll gap. right now college kids play online poker in class because you can go from $50 to millions. it takes a larger bankroll to open a brokerage account.
tim…what are you talking about.
thats like saying vegas will get shut down. it wont. more vegas's pop up.
there is so much innovation coming to forex…how about I autofoolow the best traders..how about I learn macroeconomics while losing my 150 trading.
it is early freaking days so you should be thinking about the possibilities of good UI and education taking the 90 percent loss rate to 85 percent. what is wrong with that?
i say ignite because the iphone is comfortable for most things except money transactions. I envision the iPad giving me more confidence visually in conducting financial transactions.
i believe visual plays a huge role.
I agree with Tim on this one—call the police.
Forex is a playground for former brokers, trying to run scams on old fuckers in wheelchairs. The leverage is disgusting.
now i am more bullish than ever.
indeed. i did not say I had all the answers….yet
faith to the rescue
:)
poet.
agree with you. The UI is the budweiser of the web.
I'm going to throw a wrench into this post and say that equity/forex markets are just as likely to fall victim to technology in the next 20 years for 2 reasons:
1. Trust. The masses used to trust the markets. Now, most think they are rigged. That isn't a great foundation from which to build a larger customer base
2. For the last 20 years, the stock markets and Vegas represented the only two mechanisms capable of delivering “action”. Most people can stay in Vegas all year round, so the markets were the predominant source of action. The web is changing all of that. The masses don't love the markets, they love action. As such, the advent of massive, online, globally connected games giving the masses a chance to challenge each other, make money and get their injection of action will make it harder for equity/forex markets to grow their customer base.
By far, the biggest factor is trust. If the markets can re-establish trust, people will flock to it in droves. If the markets continue to remain tarnished, its customer base will look elsewhere for action. Online poker is just one great example of that.
Conclusion – Howard is right that technology is going to drive the masses and their money. I'm just not convinced the masses are going to flock to the markets. A wide open opportunity exists for someone to step in and create a trust-worthy, entertaining, potentially lucrative online platform from which the masses can derive action and gains.
Regards,
George
The most successful Forex broker will be the one that most closely follows the Budweiser model, get the masses to think it’s worth something and churn the hell out of the market. The lead will be taken by the broker who offers the lowest entry fee and brings in the dumbest money. Watch for the big players to sponsor these low rent brokers and they’ll play it like those ranches where you can go and shoot wild game in some fenced in paddock. The rubes come in and get skinned and spit out, and a new crop is sucked in by a chick in a cheerleader outfit or a talking frog
:)
poet.
:)
poet.
agree with you. The UI is the budweiser of the web.
:)
poet.
The most successful Forex broker will be the one that most closely follows the Budweiser model, get the masses to think it’s worth something and churn the hell out of the market. The lead will be taken by the broker who offers the lowest entry fee and brings in the dumbest money. Watch for the big players to sponsor these low rent brokers and they’ll play it like those ranches where you can go and shoot wild game in some fenced in paddock. The rubes come in and get skinned and spit out, and a new crop is sucked in by a chick in a cheerleader outfit or a talking frog
The most successful Forex broker will be the one that most closely follows the Budweiser model, get the masses to think it's worth something and churn the hell out of the market. The lead will be taken by the broker who offers the lowest entry fee and brings in the dumbest money. Watch for the big players to sponsor these low rent brokers and they'll play it like those ranches where you can go and shoot wild game in some fenced in paddock. The rubes come in and get skinned and spit out, and a new crop is sucked in by a chick in a cheerleader outfit or a talking frog
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. ”
It happened to me in less than a year tho I was a little older than 20. The forex appeal is not in leverage as I often here from many veteran traders who like to think so (which is why the CFTC feels the need to stranglehold here but I digress). Rather the forex appeal is that it that is ALWAYS open and it is global, as Howard has aptly outlined here. It’s HAUTE to learn about the macros of global trade, of which equities is just a small part. If you attracted to the market solely because of leverage you lend yourself to gamble. Leverage have to be used just as smartly as Fibonacci lines. They only work if you know where to draw the lines.
A serious trader will learn to control leverage as is appropriate and comfortable for their trading style. And it may take a few blown up accounts to figure that out. That is true no matter in which market you trade. It’s even true for Vegas.
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. ”
It happened to me in less than a year tho I was a little older than 20. The forex appeal is not in leverage as I often here from many veteran traders who like to think so (which is why the CFTC feels the need to stranglehold here but I digress). Rather the forex appeal is that it that is ALWAYS open and it is global, as Howard has aptly outlined here. It’s HAUTE to learn about the macros of global trade, of which equities is just a small part. If you attracted to the market solely because of leverage you lend yourself to gamble. Leverage have to be used just as smartly as Fibonacci lines. They only work if you know where to draw the lines.
A serious trader will learn to control leverage as is appropriate and comfortable for their trading style. And it may take a few blown up accounts to figure that out. That is true no matter in which market you trade. It’s even true for Vegas.
faith to the rescue
faith to the rescue
“In 5 years, your 20-year-old kid will be quoting the Yuan, Dollar, Yen and Euro (maybe) in the same way they talk about social gaming and photo sharing. “
It happened to me in less than a year. The forex appeal is not in leverage as I often here from many vertern traders who like to think so (which is why the CFTC feels the need to stranglehold here but I digress). Rather the forex appeal is that it that is ALWAYS open and it is global, as Howard has aptly outlined here. It's HAUTE to learn about the macros of global trade, of which equities is just a small part. If you attracted to the market solely because of leverage you lend yourself to gamble. Leverage have to be used just as smartly as Fibonacci lines. They only work if you know where to draw the lines.
A serious trader will learn to control leverage as is appropriate and comfortable for their trading style. And it may take a few blown up accounts to figure that out. That is true no matter in which market you trade. It's even true for Vegas.
i'm enjoying the good discussion going on here on a Saturday.
forex is obviously a fiery discussion, which means volatility and profits.
This will make the online poker love affair my brother’s age has look like nothing.
Where else can an 18 year old start trading on $100, have no reqs for expensive credentials, infinite upside and gain high social status if she wins?
Talk about the ultimate game.
i think it is a fascinating game, but poker may just be the ultimate game.
i think it is a fascinating game, but poker may just be the ultimate game.
i think it is a fascinating game, but poker may just be the ultimate game.
This will make the online poker love affair my brother’s age has look like nothing.
Where else can an 18 year old start trading on $100, have no reqs for expensive credentials, infinite upside and gain high social status if she wins?
Talk about the ultimate game.
This will make the online poker love affair my brother’s age has look like nothing.
Where else can an 18 year old start trading on $100, have no reqs for expensive credentials, infinite upside and gain high social status if she wins?
Talk about the ultimate game.
This will make the online poker love affair my brother's age has look like nothing.
Where else can an 18 year old start trading on $100, have no reqs for expensive credentials, infinite upside and gain high social status if she wins?
Talk about the ultimate game.
hey howard, congrats on the recent stocktwits upgrade! looks awesome and you guys are getting great press w/ it too.
can't say i'm too familiar w/ the ipad either. i still haven't looked into a kindle, nook, or any other kind of tablet. two devices are enough for me, my smartphone and laptop. but if devices get adopted by finance professionals – and maybe it will just take a bit more time, that'll be a huge win for stocktwits – scanning any kind of content that mention stocks/markets and showing relevant ticker streams for them on the side.
I’m excited about the iPad, but for a fairly mundane reason: with an iPad, I’ll never have to print out another 10K or research report ever again.
I’m excited about the iPad, but for a fairly mundane reason: with an iPad, I’ll never have to print out another 10K or research report ever again.
I’m excited about the iPad, but for a fairly mundane reason: with an iPad, I’ll never have to print out another 10K or research report ever again.
thx abu. so IBKR, FXCM and anyone that offers forex is a bucket shop?
the drug industry seems to be doing well despite an extreme lack of
transaprency.
It would be interesting if forex houses could advertise and your statements
would run at the end of them. I would think the industry would just do
better.
The whole forex system is set up as a bucket shop SCAM for the retail trader. Unlike poker where you play against others (like stocks or commodities), and the house then takes a rake (commisions, spread, etc). A forex bucket shop is set up like a pit game where the retail trader goes head to head with the house, losing money to the tiny house edge in the form of the bid/ ask spread. High frequency and high leverage forex trading has to be the fastest way to the poorhouse for retail traders.
The forex brokerage system that we have now should be made illegal and all people who want to participate should be forced on to transparent exchanges like the CME where people can at least gamble against each other instead of the house. Forex is a fad and will fade out in the next 10 years due to its lack of transparency and winning traders.
I'm sure if we audited the books of a retail forex company we would find that only 1% of short term traders make money in the long run and the house ends up with most of the money. Remember in stocks and commodities the money is passed around and kept in play, its not sucked into a black hole.
your wrenchs are duly noted by me and this discussion but the penny stock marlkets make forex look fair.
thx sayem, it is fun so far for sure.
i believe devices will totally get adopted by finance people. 'professionals' is not a term i have that much faith in.
i think it is a fascinating game, but poker may just be the ultimate game.
I'm excited about the iPad, but for a fairly mundane reason: with an iPad, I'll never have to print out another 10K or research report ever again.
Future traders will be the same ones who would not put down the electronic toys at the first or second beckoning when they were called to the dinner table…
When the eye candy is made easier and cleaner, addictive behaviour seems a natural progression/manifestation, but then again I stopped after Pac-Man, and have never been to a casino. LOL.
Future traders will be the same ones who would not put down the electronic toys at the first or second beckoning when they were called to the dinner table…
When the eye candy is made easier and cleaner, addictive behaviour seems a natural progression/manifestation, but then again I stopped after Pac-Man, and have never been to a casino. LOL.
Future traders will be the same ones who would not put down the electronic toys at the first or second beckoning when they were called to the dinner table…
When the eye candy is made easier and cleaner, addictive behaviour seems a natural progression/manifestation, but then again I stopped after Pac-Man, and have never been to a casino. LOL.
I’m bullish on forex brokers and bearish on most forex traders.
During the last decade the number of new options accounts mushroomed. People were fascinated by the leverage, but were not prepared for the complexity of the options’ world. Forex also offers leverage and in addition to that simplicity – there are only a few liquid couples. Forex brokers have the potential to achieve the growth of options brokers, under the right circumstances (media campaign that talks about the wealth made in forex).
Forex markets being open 24/7 isn’t something that attracts me. This is why I don’t trade them. I rather be in a market that is open 4 hours a day, 4 days a week. This doesn’t mean that I wouldn’t buy a stock of a forex broker. Money goes where the potential for strong growth is.
I’m bullish on forex brokers and bearish on most forex traders.
During the last decade the number of new options accounts mushroomed. People were fascinated by the leverage, but were not prepared for the complexity of the options’ world. Forex also offers leverage and in addition to that simplicity – there are only a few liquid couples. Forex brokers have the potential to achieve the growth of options brokers, under the right circumstances (media campaign that talks about the wealth made in forex).
Forex markets being open 24/7 isn’t something that attracts me. This is why I don’t trade them. I rather be in a market that is open 4 hours a day, 4 days a week. This doesn’t mean that I wouldn’t buy a stock of a forex broker. Money goes where the potential for strong growth is.
I’m bullish on forex brokers and bearish on most forex traders.
During the last decade the number of new options accounts mushroomed. People were fascinated by the leverage, but were not prepared for the complexity of the options’ world. Forex also offers leverage and in addition to that simplicity – there are only a few liquid couples. Forex brokers have the potential to achieve the growth of options brokers, under the right circumstances (media campaign that talks about the wealth made in forex).
Forex markets being open 24/7 isn’t something that attracts me. This is why I don’t trade them. I rather be in a market that is open 4 hours a day, 4 days a week. This doesn’t mean that I wouldn’t buy a stock of a forex broker. Money goes where the potential for strong growth is.
I'm bullish on forex brokers and bearish on most forex traders.
During the last decade the number of new options accounts mushroomed. People were fascinated by the leverage, but were not prepared for the complexity of the options' world. Forex also offers leverage and in addition to that simplicity – there are only a few liquid couples. Forex brokers have the potential to achieve the growth of options brokers, under the right circumstances (media campaign that talks about the wealth made in forex).
Forex markets being open 24/7 isn't something that attracts me. This is why I don't trade them. I rather be in a market that is open 4 hours a day, 4 days a week. This doesn't mean that I wouldn't buy a stock of a forex broker. Money goes where the potential for strong growth is.
Future traders will be the same ones who would not put down the electronic toys at the first or second beckoning when they were called to the dinner table…
When the eye candy is made easier and cleaner, addictive behaviour seems a natural progression/manifestation, but then again I stopped after Pac-Man, and have never been to a casino. LOL.
Tim and The Fly are right, this is a business filled with ex-brokers who were kicked out of the business, it is lightly regulated and heavily leveraged – a molotov cocktail.
but Howard is also partly right- it will absolutely get much bigger before it blows up. I couldnt find any public pureplays to play this financial Atkins diet fad, so maybe I'll invest with the russian mob who are playing the retail forex demand like a fiddle right now.
:)
yes the russinas are deeply involved monetarily, but same with facebook and
zynga….hmmmm
-For a retail trader, forex has the worst odds of any asset class. Spreads are razor thin and volatility is usually pretty light. That means you have to lever up to your eyeballs to get any kind of juice and pay that cost of carry while you wait for that 1% move…which may take a while. Oh, plus you have to be acting in concert with or faster than the institutional trading houses who have the advantage over you in every possible way and the capital to move markets.
-Forex traders don’t determine the fate of currencies, governments do. A forex trader who is big and aggressive enough (and has big ones) might be able to force a government’s hand or call their bluff in regard to it’s sovereign currency but forex trading does not make or break currencies.
-At least some -and in some cases, a great deal of- value was created in the various junk bond, M&A and internet stock booms. Currency trading does not facilitate this. One currency appreciates in exact proportion as another depreciates. Zero-sum. Fiat currency has no intrincic value and swapping it back and forth creates nothing. Many people believe that capitalism itself is a zero-sum game. It isn’t. Real free enterprise creates value and wealth out of work, technology and commerce. If this were not the case we would all still be fighting over the same measly pile of wealth that existed 500, 1000 years ago.
-It is telling that neither you nor the Bloomberg article profiled any retail currency traders who have managed to build up any wealth. You did provide some evidence that forex brokers stand to profit by harvesting commissions from the starry-eyed retail-forex crowd. Which stocks did you say you were long again?
many bazillionaire curreny traders….mostly the trend followers, CTA’s etc…, not day traders.
If accessing financial market would be easy then it would be really food
many bazillionaire curreny traders….mostly the trend followers, CTA’s etc…, not day traders.
-For a retail trader, forex has the worst odds of any asset class. Spreads are razor thin and volatility is usually pretty light. That means you have to lever up to your eyeballs to get any kind of juice and pay that cost of carry while you wait for that 1% move…which may take a while. Oh, plus you have to be acting in concert with or faster than the institutional trading houses who have the advantage over you in every possible way and the capital to move markets.
-Forex traders don’t determine the fate of currencies, governments do. A forex trader who is big and aggressive enough (and has big ones) might be able to force a government’s hand or call their bluff in regard to it’s sovereign currency but forex trading does not make or break currencies.
-At least some -and in some cases, a great deal of- value was created in the various junk bond, M&A and internet stock booms. Currency trading does not facilitate this. One currency appreciates in exact proportion as another depreciates. Zero-sum. Fiat currency has no intrincic value and swapping it back and forth creates nothing. Many people believe that capitalism itself is a zero-sum game. It isn’t. Real free enterprise creates value and wealth out of work, technology and commerce. If this were not the case we would all still be fighting over the same measly pile of wealth that existed 500, 1000 years ago.
-It is telling that neither you nor the Bloomberg article profiled any retail currency traders who have managed to build up any wealth. You did provide some evidence that forex brokers stand to profit by harvesting commissions from the starry-eyed retail-forex crowd. Which stocks did you say you were long again?
-For a retail trader, forex has the worst odds of any asset class. Spreads are razor thin and volatility is usually pretty light. That means you have to lever up to your eyeballs to get any kind of juice and pay that cost of carry while you wait for that 1% move…which may take a while. Oh, plus you have to be acting in concert with or faster than the institutional trading houses who have the advantage over you in every possible way and the capital to move markets.
-Forex traders don't determine the fate of currencies, governments do. A forex trader who is big and aggressive enough (and has big ones) might be able to force a government's hand or call their bluff in regard to it's sovereign currency but forex trading does not make or break currencies.
-At least some -and in some cases, a great deal of- value was created in the various junk bond, M&A and internet stock booms. Currency trading does not facilitate this. One currency appreciates in exact proportion as another depreciates. Zero-sum. Fiat currency has no intrincic value and swapping it back and forth creates nothing. Many people believe that capitalism itself is a zero-sum game. It isn't. Real free enterprise creates value and wealth out of work, technology and commerce. If this were not the case we would all still be fighting over the same measly pile of wealth that existed 500, 1000 years ago.
-It is telling that neither you nor the Bloomberg article profiled any retail currency traders who have managed to build up any wealth. You did provide some evidence that forex brokers stand to profit by harvesting commissions from the starry-eyed retail-forex crowd. Which stocks did you say you were long again?
many bazillionaire curreny traders….mostly the trend followers, CTA's etc…, not day traders.
I'm not so sure about that Howard. The perception used to be that bigger markets = more secure. The last 2 years have unequivocally proven that bigger markets = bigger sharks. Penny stock markets have got nothing on scammers in Derivatives, Swaps and straight up big caps. Given the stakes, there is every reason to believe FOREX is or will be just as corrupt.
The Greek
thx dude.
comment5, acrobat adobe writer, >:)), activesync 4.5 install windows media player, 379921, adda mac to a windows domain, plb, adobe acrobat 6 combatability vista, 09821, adobe acrobat dpwnload, fefjfi, adobe acrobat reader 6.0 download, pegbgf, adobe after effects sound tutorial, 3742, adobe creative suite web premium activate, zvi, after effects of chernobyl, ydhygz, aimersoft dvd ripper v1022, hgp,
Interesting article within its context. But just what is the value being created by Forex et al? And if there is no value being created, if it is just trading for tradings sake, and if that function continues to grow, isnt that another set up for another massive failure?
It seems to me that there is a lot of truth in this article. But it is a sad truth. We still have not matured as a society/civilization. We are yet teenagers/adolescents. Which, oddly, is who apparently will be powering this next wave…..
Bust and boom. Prepare for the next boom as the predictions in this article start showing up.
If accessing financial market would be easy then it would be really food
good article thanx for sharing
i am trend follower, thank for sharing.
i am trend follower, thank for sharing.
This will make the online poker love affair my brother’s age has look like nothing.
Where else can an 18 year old start trading on $100, have no reqs for expensive credentials, infinite upside and gain high social status if she wins?