Sunday, October 21, 2012

You're Finished If You Don't Know This Binary Options 18th Oct 2012 S&P 500

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If you trade binary options and don't realise that it's the big trading houses and banks that control the market then you are finished in trading binary options or spreadbetting before you ever start. Why because they can make it seem the market is going down or up and then they can reverse it in seconds. It's called program trading or high frequency trading. They use complex trading robots or bots to buy or sell thousands upon thousands of orders in milliseconds. If you are not aware of this you will lose in the long run.
Forget all these spin doctors telling you the market is going up or down because of xy or z is happening. Outside factors for the most part don't matter as they will often make the market go up on bad news and down on good news. The bots are in control and if you really want to make money do your homework about them and you will lose a lot less.
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text courtesy of wikipedia creative commons
Foreign exchange fraud is any trading scheme used to defraud traders by convincing them that they can expect to gain a high profit by trading in the foreign exchange market. Currency trading "has become the fraud du jour" as of early 2008, according to Michael Dunn of the U.S. Commodity Futures Trading Commission.[1] But "the market has long been plagued by swindlers preying on the gullible," according to the New York Times.[2] "The average individual foreign-exchange-trading victim loses about $15,000, according to CFTC records" according to The Wall Street Journal.[3] The North American Securities Administrators Association says that "off-exchange forex trading by retail investors is at best extremely risky, and at worst, outright fraud."[4]
"In a typical case, investors may be promised tens of thousands of dollars in profits in just a few weeks or months, with an initial investment of only $5,000. Often, the investor’s money is never actually placed in the market through a legitimate dealer, but simply diverted – stolen – for the personal benefit of the con artists."[5]
In August, 2008 the CFTC set up a special task force to deal with growing foreign exchange fraud.[6] In January 2010, the CFTC proposed new rules limiting leverage to 10 to 1, based on " a number of improper practices" in the retail foreign exchange market, "among them solicitation fraud, a lack of transparency in the pricing and execution of transactions, unresponsiveness to customer complaints, and the targeting of unsophisticated, elderly, low net worth and other vulnerable individuals."[7]
The foreign exchange market is at best a zero–sum game,[8] meaning that whatever one trader gains, another loses. However, brokerage commissions and other transaction costs are subtracted from the results of all traders, making foreign exchange a negative-sum game.
Frauds might include churning of customer accounts for the purpose of generating commissions, selling software that is supposed to guide the customer to large profits,[9] improperly managed "managed accounts",[10] false advertising,[11] Ponzi schemes and outright fraud.[4][12] It also refers to any retail forex broker who indicates that trading foreign exchange is a low risk, high profit investment.[13]
The U.S. Commodity Futures Trading Commission (CFTC), which loosely regulates the foreign exchange market in the United States, has noted an increase in the amount of unscrupulous activity in the non-bank foreign exchange industry.[14]
An official of the National Futures Association was quoted as saying, "Retail forex trading has increased dramatically over the past few years. Unfortunately, the amount of forex fraud has also increased dramatically."[15] Between 2001 and 2006 the U.S. Commodity Futures Trading Commission has prosecuted more than 80 cases involving the defrauding of more than 23,000 customers who lost $350 million. From 2001 to 2007, about 26,000 people lost $460 million in forex frauds.[1] CNN quoted Godfried De Vidts, President of the Financial Markets Association, a European body, as saying, "Banks have a duty to protect their customers and they should make sure customers understand what they are doing. Now if people go online, on non-bank portals, how is this control being done?"  links to our July Charts  August charts   here are links to more September charts  October charts Binary options