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New NFA Rule For Forex Trading
By James Chen on July 9, 2009 | More Posts By James Chen | Author's Website
With the preponderance of confusion regarding the new “First-In, First-Out” (FIFO) rule, which the National Futures Association (NFA) will implement on August 2, 2009 for all NFA-registered Forex Dealer Members (FDMs), I wanted to provide some information here to help clear up any confusion. This information is specific to my company, FX Solutions, but includes a good explanation of how trading will work under the ruling.
For the large majority of traders, this new process should not affect their trading in any appreciable way. Some traders will be affected by it, but there are ways to make adjustments so that these traders may implement their trading and strategies as they have done in the past.
Here is a link to the explanation of the new ruling and its effect on trading forex: http://www.fxsolutions.com/notice/fifo.asp .
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One is having a hard time trading Forex with all these NFA new rules going into effect in USA, Best solution is to move account to UK and forget about this nonsense. Trading freedom is missing in USA since hedging was prohibited a month ago. FIFO now will make thinks a lot worse for the average trader.