Jude

Yep Marketiva has a cap on the maximum funds, and its got to do with the lot size as explained by PeterB then.

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Traderj

Damn sounds like a pretty mickey mouse firm... I am guessing it is more for new traders?

Interesting.. just another thing about the FX market that is wacky.

allinvain

Yes, more or less. Think about it, if it offers you $5 "free" (it's not free in reality - you'll find out about this later on) to start trading, then that immediately tells you that it's not for big traders.

I must admit that their platform is kinda neat, especially the integrated chat room feature. I usually hang around in it with other traders of the same ethnic origin as me and it's pretty fun to "shoot the shit" while the GBP/JPY shoots up, and up, and up

Traderj

Oh ok... yeah you're right any firm that needs to try to bribe customers by offering a whopping five bucks is clearly not for full time traders hehe...

I agree about the chat rooms, I hang out in two live trading rooms related to futures, I would say that on most days if all you did was follow the more experienced traders in each of those rooms as they call their trades you would make a very good living... the problem with that of course is that they are giving you fish instead of teaching you how to fish..

J

allinvain

Yep, but remember the first rule is not to accept other people's advice or trading signals blindly. Not only do you not learn anything, but you risk the chance of going with a losing trade, and as we all know, a personal loss is easier to take than one that happened because of another person.

Another thing that I've found out was that there are *some* very good traders that use the platform. I figure it is mainly becuase of the fact that marketiva accepts e-gold and e-bullion and some people from certain countries find that more convenient that bank wires which most likely carry too high transaction fees in comparison to e-gold & e-bullion.

Traderj

Hahaha. yes I know what you're trying to say but don't worry that does not apply in cases like this. We are talking about members of a trading room, that are all learning the same method of trading based on the same rules...

Just for clarity the first rule of trading is NOT to accept people's advice..it's "let your winners run and cut your losers short"

I was not implying there were not "good" traders using the platform but no "serious" trader as in using hundreds of thousands of dollars would be using Egold, more so if they were from other countries they would be using bank wires...the amount of money they'd lose doing exchanges etc.. would be like flushing it...I am 100% sure if you compared the cost of doing a 100,000 dollar bank wire from ANY country vs. exchanging via any ecurrency the bank wire would be cheaper every time...unless there is some country I've never heard of where that would be wrong. I wire money in from my Thai bank account all the time and SE Asia is one of the places that usually is considered "risky and high cost"

J

Kitty

Dear ponziscams, I have a net loss of $2246 US, deposits minus withdrawls.

Schminner

Traderj, are you located in Thailand ???

Traderj

For half the year yes... I usually spend the winters in Thailand and summers in Canada...

kibitzer

Hey, traderj. Just wondering if "anti-traderj" over at GT is your evil twin?