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@  Nathan55 : (10 August 2020 - 11:19 AM) option strategy
@  kalc : (08 August 2020 - 04:10 AM) @BOedge its a very easy switch mate
@  BOedge : (05 August 2020 - 02:29 PM) nice to see you again STILIOS. Yup, screen time, research [ie here on BOE], more screen time, practice, patience, a plan, proofing the plan and then sticking to it. I'll be in touch some time to pick your brains about the switch to FX. Not now, not ready.
@  devhie : (04 August 2020 - 06:36 AM) good night
@  palex2005 : (03 August 2020 - 03:42 AM) EMA
@  STILIOS : (02 August 2020 - 11:28 AM) Have a nice and profitable week Guys !!!!!!
@  STILIOS : (02 August 2020 - 11:27 AM) After all those years of trying and working i came out in a conclution and is simple..Trading needs knowledge - Pateince - Discipline in order to succeed ofcourse not in a couple of years ....
@  STILIOS : (02 August 2020 - 11:24 AM) @BOedge my friend it was a big challenge for me also to start work on Forex also but i never regret that till now
@  STILIOS : (02 August 2020 - 11:22 AM) We should never forget where how and who healp us to start from ...
@  STILIOS : (02 August 2020 - 11:21 AM) Its really nice to see some old and respectfull traders - members in here !!!
@  BOedge : (02 August 2020 - 04:52 AM) its really interesting when you read through some of the threads again and again what you discover that you just couldn't see or understand before. So many duh moment, lol.
@  BOedge : (02 August 2020 - 04:50 AM) good, finally understanding HH strat, at least a bit more, but still struggling with Larry. Switching to FX from BO is challenging. Biggest takeaway from Larry so far is to look beyond the open and close of a candle.
@  Sambo : (01 August 2020 - 01:43 AM) @David it's going well at the moment, hitting 2.5% per week...combining Al Brooks price action with Lazy Larry MM 🙂
@  David : (31 July 2020 - 06:40 AM) how about with yall
@  David : (31 July 2020 - 06:39 AM) not too bad sambo, always improving
@  Sambo : (30 July 2020 - 02:10 PM) @David how is your trading going david?
@  nkotb6 : (30 July 2020 - 06:26 AM) True @David Happy trading day!
@  roopem : (30 July 2020 - 12:05 AM) @XOOX hey, can you explain more?
@  David : (29 July 2020 - 02:58 PM) and i hear that nkotb6, can always be better!
@  David : (29 July 2020 - 02:58 PM) Ah man sorry to hear that sambo

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249 replies to this topic

#21 MXBO

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Posted 27 March 2018 - 08:17 AM

It always amazes me how stupid some people can be. Do you really believe that?

 

If you make more money, you will pay more taxes first of all. So the will get their portion of the cake too. Why would they be against you. Don´t be stupid.

 

Yes this has nothing to do with "they don't want us to make money".

 

It's stupid regulations by a regulation entity so they feel important and have something to do. Because they read all the horror stories of people losing money.

 

But then they should baby sit everyone at all times and ban any casinos, cigarettes, alcohol, sex and anything else.



#22 danyroad

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Posted 27 March 2018 - 08:18 AM

You used your first comment to tell me that i am stupid?

 

That's clever.

 

Thanks,


“The best way to end up with $1000 in forex is to start with $2000”


#23 MXBO

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Posted 27 March 2018 - 08:34 AM

Seems not all as bad. Response from CMC

 

0iIttRB.png



#24 elmbarn

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Posted 27 March 2018 - 08:35 AM

i think i will start buying lottery tickets. at least there is a 50 million to 1 chance of winning it. better start buying them now before they protect the retail investor.


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#25 nitrousr8

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Posted 27 March 2018 - 08:59 AM

So, i've learned a lot and they banned it?

 

I think they banned BO because more people start getting into it and they will realize how to make some money at the end.

 

They will not banned it because BO will make u lose money, they will banned it because they do not want you to make money.

 

That's it.

 

Hope there is no such a thing...

 

Well, if that hurts.. Just imagine people that have been learning BO and Forex for the past 2 years to 3 years, just to learn that it will all go to hell within a couple of months. 


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"You don't make it to the top by overcoming others, but overcoming yourself"


#26 BOedge

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Posted 27 March 2018 - 09:11 AM

What I don't quite understand is here it says "Temporary measure": https://www.fca.org....-binary-options



In the ESMA link it says:
In accordance with MiFIR, ESMA can only introduce temporary intervention measures on a three monthly basis. Before the end of the three months, ESMA will consider the need to extend the intervention measures for a further three months.

You actually gotta read the stuff, folks! No one ever reads anything, lol.
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#27 danyroad

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Posted 27 March 2018 - 09:11 AM

Well, if that hurts.. Just imagine people that have been learning BO and Forex for the past 2 years to 3 years, just to learn that it will all go to hell within a couple of months. 

 

That was exactly what i mean.


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“The best way to end up with $1000 in forex is to start with $2000”


#28 MXBO

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Posted 27 March 2018 - 09:17 AM

In the ESMA link it says:
In accordance with MiFIR, ESMA can only introduce temporary intervention measures on a three monthly basis. Before the end of the three months, ESMA will consider the need to extend the intervention measures for a further three months.

You actually gotta read the stuff, folks! No one ever reads anything, lol.

 

Can Binary Options traders even read?  :D


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#29 BOedge

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Posted 27 March 2018 - 09:26 AM

There is still a little time left:

The measures will then be published in the Official Journal of the EU (OJ) and will start to apply one month, for binary options, and two months, for CFDs, after their publication in the OJ.

#30 danyroad

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Posted 27 March 2018 - 09:28 AM

The hope dies last.


“The best way to end up with $1000 in forex is to start with $2000”


#31 nitrousr8

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Posted 27 March 2018 - 09:31 AM

First they have to be translated in all European Languages, which is going to take a few weeks.. then the 1 month after its publication. So I'd guess we have 2-3 months still


"You don't make it to the top by overcoming others, but overcoming yourself"


#32 danyroad

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Posted 27 March 2018 - 09:37 AM

First they have to be translated in all European Languages, which is going to take a few weeks.. then the 1 month after its publication. So I'd guess we have 2-3 months still

 

There are PDFs at the bottom translated on different languages. So i already read it on mine.


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“The best way to end up with $1000 in forex is to start with $2000”


#33 ameint

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Posted 27 March 2018 - 09:38 AM

the decision is final, the 3 month period is only a formally period, before it will be parliamentary right / law all over the hole EU !



#34 MXBO

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Posted 27 March 2018 - 10:16 AM

I spoke further with CMC and they told me:

 

As it stands at the moment, Binaries and Countdowns should be available for professional status clients. They will not be available for retail clients. If you want to apply for professional status please let us know we can send you details and you can see if you will be eligible. 

 

:D 


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#35 papabless

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Posted 27 March 2018 - 10:17 AM

Ok so this is how I understand it. Is my understanding correct?

 

"ESMA intends to adopt the agreed measures in the official languages of the EU in the coming weeks" let's say we have a week

''The measures will be published in the Official Journal of the EU (OJ) and firms will be required to implement the prohibition on binary options, one month after publication in the OJ'' that's a month

 

so we have still about 5 weeks left before the ban

 

"The product intervention measures will be applied under Article 40 of the Markets in Financial Instruments Regulation (MiFIR) and will have an initial duration of up to three months, after which the measures may be renewed.

The Financial Conduct Authority (FCA) supports ESMA’s application of EU-wide temporary product intervention measures. The FCA expects to consult on whether to apply these measures on a permanent basis to firms offering CFDs and binary options to retail clients."

 

The above means that after the 5 weeks the ban starts and it might:

last for 3 months or less

last 3 months and then another and possibly another depending on the power of ESMA (who knows how many times they can renew the ban)

last forever in case that the FCA decides it should



#36 nitrousr8

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Posted 27 March 2018 - 10:25 AM

Ok so this is how I understand it. Is my understanding correct?

 

"ESMA intends to adopt the agreed measures in the official languages of the EU in the coming weeks" let's say we have a week

''The measures will be published in the Official Journal of the EU (OJ) and firms will be required to implement the prohibition on binary options, one month after publication in the OJ'' that's a month

 

so we have still about 5 weeks left before the ban

 

"The product intervention measures will be applied under Article 40 of the Markets in Financial Instruments Regulation (MiFIR) and will have an initial duration of up to three months, after which the measures may be renewed.

The Financial Conduct Authority (FCA) supports ESMA’s application of EU-wide temporary product intervention measures. The FCA expects to consult on whether to apply these measures on a permanent basis to firms offering CFDs and binary options to retail clients."

 

The above means that after the 5 weeks the ban starts and it might:

last for 3 months or less

last 3 months and then another and possibly another depending on the power of ESMA (who knows how many times they can renew the ban)

last forever in case that the FCA decides it should

 

That's how I understand it also.. 


"You don't make it to the top by overcoming others, but overcoming yourself"


#37 ameint

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Posted 27 March 2018 - 10:31 AM

be careful with this suggestion, because as an professional client you will be different tax law for your trading!!!

 

 

I spoke further with CMC and they told me:

 

As it stands at the moment, Binaries and Countdowns should be available for professional status clients. They will not be available for retail clients. If you want to apply for professional status please let us know we can send you details and you can see if you will be eligible. 

 

:D 



#38 MXBO

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Posted 27 March 2018 - 10:34 AM

be careful with this suggestion, because as an professional client you will be different tax law for your trading!!!

 

So what. I doubt it's huge difference.



#39 ameint

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Posted 27 March 2018 - 10:45 AM

good luck for you :-)

 

 

So what. I doubt it's huge difference.



#40 danyroad

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Posted 27 March 2018 - 10:56 AM

It is written in ESMA decision:

 

"1.    Binary Options - a prohibition on the marketing, distribution or sale of binary options to retail investors; a"

 

It will be good if most of the brokers decide to leave the market open for professional traders.

 

But how someone can be a professional trader instead retail trader?

 

What makes the differences?


“The best way to end up with $1000 in forex is to start with $2000”





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