Well, partner, with all due respect, your esteemed colleague attacked my character with libel and called the statements that I made false. Guys like me only get like this, when guys like you think they are big chit. You are not as great as you think you are Lornz and you know absolutely nothing about me.
If you don't realize the folly of this statement, then I hope you never do.
You are still missing the point. The entire point of my post was that *in my (perhaps limited) research, I had not found a broker who was willing to do this at any point other than 100% margin usage.* It is EXTREMELY unwise to leverage in a 500:1 when there is no protection like that, because if something goes haywire and the position continues to move against you, nothing will happen until you are bust.
I don't want to trade with a broker that has that policy, do you?
Lornz, I couldn't agree with you more, partner. Perhaps someday you'll become as good a poseur as you are a trader. I know it's hard, but you're trying and that's all that counts. :-)
You're right, I was being disrespectful. However, I would be tempted to claim the same about you. You start off by proclaiming erroneous assumptions as facts, and then you attack the posters who try to help you correct your faulty views. If you'd only asked nice, I am sure many would try to help you in a respectful manner.
As @Fat Tails said, we are all just trying to steal each other's money. It is the nature of a zero-sum game...
I honestly don't know how to respond to that, we are apparently living in different universes.
If you're leveraging 500:1, you are going to go bust either way. It is extremely unwise to use that kind of leverage regardless of stops. If you are a businessman, you would be wise to avoid bucket shops.
My point was that, unless you have too many/complex positions to monitor, a stop will to the trick. In fact, in many instances, the two are equal. If the account's value drops by the set amount (40%, e.g.) the broker liquidates your position using a market order. For a single position (as you used in your example), that would be the equivalent of you placing a stop market order at the same price. I don't know how I can make it any clearer than that.
If I ever become as good a poseur as I am trader, then - lord, help us all - I will be unstoppable!
I suppose you'll carry on rummaging around these boards insulting and doing no good for anybody. Bravo!
Who has tried to help me? only kbit and cw30000. The others, including yourself Twiddle, only attacked. How are these people helping me by ignoring (or not fully reading) what I said and then flying off and attacking me about something that is not cogent to the point I was making?
Just to be crystal clear, I have never professed any trading proficiency, or made any statements about my level of profitability(except for a few journal posts here on futures.io (formerly BMT))on the internet or IRL(except to my wife and partners.) I don't do that. It doesn't matter, that was not what the post was about and the fact that you brought it up tells me you have jealousy issues or just can't control your malicious tendencies one of the two.
You may be here to try and become a better trader, I am not. Not that I am not trying to improve my style(or that it can't be improved), but I don't get anything related to that from here. I don't give two squats if anyone around here thinks I am the ultimate trader or that I blow up accounts daily. Reality is the only truth and it will never live on this forum.
If you can't understand that my post had absolutely nothing to do with my ability(or lack of) as a trader, then you may want to take a refresher course on how to read american english. The post said nothing about bad trade decisions, it was 100% about managing risk when "events" occur and systems/humans do not perform as they normally do.
Is there anyone who read what I wrote and understood that what I was talking about is risk management and not bitching and whining about "bad brokers?" Should I change the thread title to "My search for a risk management futures/forex broker?"
I'm growing tired of this... Perhaps I'll stop beating this horse now.