|
PureBytes Links
Trading Reference Links
|
JDFO wrote:
>
> -----Original Message-----
> From: Larry Owens <laowdhl@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Sunday, December 28, 1997 1:02 PM
> Subject: Forex , FX , Currency Trading, Interbank Currency Trading
>
> >Hi Folks!! I'm new to this forum. I have been trading for 2 years,
> >mostly grains and cattle. I have been following currencies, especially
> >the yen and Aussie dollar for a few months.
> >
> >Being aware of currency futures and options, there is also "interbank"
> >currency trading. The search engines under forex turns up "The Monsy
> >Garden" in NYC where you can open a margin account for $1K. The name and
> >the $1k makes me skeptical. The question(s)are: Anyone familiar with
> >"Money Garden" and is anyone trading interbank currencies that has a
> >broker to recommend?
> >
> >I hope this is not too far out line in your discussions.
> >
> >An advance Thanks!
> >
> >Larry Owens
> >
> Larry:
>
> I, also, was taken in with these organizations "Money Garden", etc.
> (there are several of them.) After further investigation and reading
> several comments on this forum, it seems these guys are making their own
> market; your trading against them. Thus, you have no idea what the real
> market (Forex) is doing and they can
> manipulate as they see fit, an impossible situation. Also, their spreads of
> 5 to 8 pips is, I believe, unrealistic.
> My associate and I used two computers at the same time and compared
> Money Garden's quotes (bid/asked) with another firm, trading the same
> market.
> It was like we were trading completely different commodities. The quotes
> were
> 10 to 15 pipes different from each other. We wondered what the "REAL" forex
> pricing was during that time.
> It seems trading with these organizations is ill advised. I woud
> appreciate any further comment on my remarks from some who might be more
> knowledgeable.
> Regards,
> jdfo
I am not sure what you are all trading and talking about here, but it
reminds me strongly of the bucket shops in "Reminescence of a Stock
Operator", or Jesse Livermore's manoeuvering at those places that faked
real quotes...
unknowledgeable,
Gwenn
|