Stop-Loss Stops Working

This is a great article about the perils of having stop-losses when trading FX, courtesy of today's edition of The Wall Street Journal.

IG Markets: Ultimate Online Casino

Not sure the fuss about the gahmen allowing online gambling is all about when there already is a licensed broker operating gambling mechanisms right under the MAS's noses.

Enter IG Markets' Sprint betting.

As if their hourly and two hourly Binary Options availability arn't enough of a gambling mechanism with almost zero investing or markets acumen required, the Sprint betting takes things up several notches.

This is a ONE MINUTE gambling option just simply betting whether within a minute, a currency pair will be above or below the strike price (which is at Market when bought/sold).

Some key highlights:

1) Only one minute time frame. So it is VERY quickly over.

2) The chart simply shows the per second chart. Very drastic moves.

3) For a minimum bet of SGD$45, you stand to either lose 100%, or win SGD$81.45, an 81% potential payout.

4) See screenshot below, notice the time on the phone clock vs the expiry time - that's right, have I already mentioned it is a straightforward one-minute bet?

5) In the case of a draw, i.e. the expiration price equals your open price, you actually lose HALF! I know right?! Just like in the casino!!!

And the authorities are allowing this? While those online betting debates are ongoing?

Noble Group (N21) II

Sigh.

This stock has been rallying at such a rapid pace lately.

All thanks to this piece of news.

The sale of NAES will really shore up capital for the company and bring back confidence on the stock.

today it hit a high of 0.200/205

Hopefully it will continue to surge towards a very high price!!!

Huat ah!

THAT 7% GBPUSD Drop

Yesterday morning at 7am, the GBPUSD spiked down 7% to as low as 1.15 from 1.26+. This was blamed on illiquidity and algo triggers.

A stark reminder of the perils of leveraged trading in a hugely volatile and opaque FX market.

Trade safe.

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