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as an educated trader you are most likely aware of the new nfa regulations that are continuing to strip away your traders edge. Trading is a tough enough game as it is, and to be profitable you need to grab hold absolutely every edge you can get.
as of august 1st 2009 the nfa's new fifo ruling has taken away all us based brokers abilities to place essential orders that you must have as a trader if you are to succeed.
while some brokers are scrambling to offer a patchy work around, and may go as far as even providing a temporary a solution, there is absolutely no consistency, or any form of a centralized order platform in the forex market whatsoever.
the orders that have been effected are: conflicting orders (for those you that like to straddle the market or use orders to bracket the market)
stop loss orders (to limit your losses or risk in a given trade) limit orders (to exit you out of your position when your target is hit) some brokers have removed these order types, some still have them (but for how much longer, who knows) and many have moved their entire client base overseas (not something you want to do for reasons explained below)
and as a trader, a “quick fix” or a partial “work around” just wont' cut it... It's your money at risk, and while you may be with a broker that is still allowing these order types, there is no telling how much longer they will be around... And they may literally dissapear overnight...<...read more detail
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