Interesting! Turns out SL means nothing! - page 6
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Have you read the PDS I linked to yet? Then write them a letter saying the AA-rated bank (and there are only 11 of them in the world) are fools, don't know what they are selling swaps or futures.
I see a clinical case... in an extremely advanced form.
so I'll answer for the last time, as I'm tired of getting my head bashed in...
It's not the bank that sells the swap, but you enter into a swap agreement with the bank !
Just read what BARS wrote in the example... ( you must have read a book like that ;-))
You need to sell euros for quid. And you have only dollars, so you sign a swap deal with the bank (it gives you euros for quid), if you listen carefully, you'll understand that if you buy euros for dollars and then sell them, you'll have a balance = deposition-loss on the full transaction. Banks have a lot of customers, a lot of their funds in the mint, so they lend you euros against your banknotes. If you go down the drain, the bank loses nothing (margin, as the bank's balance was in EUR and so it is ;-)) and also earns money because they get interest for the loan and also receive a commission... ( if you don't want to give credit in euros, the bank will just transfer you to an agent for a swap agreement).
I may have got into this for nothing. I don't want to argue about terms, and I'm not good at them.
Hi !
There's a "war" going on here ( I see it's over now... )))))... ehhhhh and it all started with a simple stop loss ))))
What a great story ))))
( and if the bank does not want to give you a loan in euros, it will just transfer to a cont agent to make a swap agreement).
How does this contradict what I said? There are a huge number of swap contracts. Some of them can be credit - get it now, deliver it later. They can be the other way round - you pay now and you will get regular and multiples later. They can be contracted to exchange money in the future, futures can be used, but I buy a swap, for example 100,000 tonnes of petrol in exactly one year's time and pay accordingly in one year's time. There are no petrol futures, but there are swaps.
A guaranteed stop-loss. Some kind of insurance has already been mentioned several times. And who will pay for the insured event, i.e. the gap? And it would be the counter agents on the swap deal who would pay. There is no such thing as "just insurance", especially in financial markets, they are always backed by derivatives, i.e. futures and swaps.
Once again, where we started: do not look at the world through a MetaTrader window, the world is much bigger. Swaps are not just pennies that broker takes/places, they are big business.
I may have got into this for nothing. I don't want to argue about terms, and I'm not good at them.
I'm good at maths. The rest is nothing.
ISO 9001 doesn't ring a bell?
:)
What do you know about quality management?
I used to do ISO-9001. Did the documentation and got certified for three systems.... :)) Nothing much there. The firm writes its own "workflow": "We serve clients like this... ... and a lot of documentation. The main goal is "customer satisfaction", but the criteria of this satisfaction are defined by the firm itself, which certifies itself under ISO. And what's more, every year the inspection authorities check that the firm works in the way it had defined its own technological process :))).
I mean that if in their documentation is written that "the criterion for customer satisfaction is the amount of money received from him" (like: if he pays us, he is satisfied with our work), then the closure of orders on the gaps in favor of the customer will be seen as a violation of ISO-9001.
Any idea can be taken to the point of absurdity: "the law is like a dilemma; the way you turn it, the way you get it" ;)
And how does this contradict what I said? Swap contracts abound. Some of them can be a credit - get it now, deliver it later. They can be the other way round - you pay now, you will receive regularly and in large quantities later. They can be contracted to exchange money in the future, futures can be used, but I buy a swap, for example 100,000 tonnes of petrol in exactly one year's time and pay accordingly in one year's time. There are no petrol futures, but there are swaps.
A guaranteed stop-loss. Some kind of insurance has already been mentioned several times. And who will pay for the insured event, i.e. the gap? And it would be the counter agents on the swap deal who would pay. There is no such thing as "just insurance", especially in financial markets, they are always backed by derivatives, i.e. futures and swaps.
Once again, where we started: do not look at the world through a MetaTrader window, the world is much bigger. Swaps are not just pennies that broker takes/places, they are big business.
1e. for petrol there is a fuci ! It's called a supply contract !
2.i.e. you obviously don't understand anything about swaps, and you lump everything together (I wouldn't be surprised if you added options, etc.) .....
3.i.e. you are a counter agent - if you say so, they will fuck you up.
4.i.e. Swap is now a %nt. and applies to currencies ! And all the rest is futures (when the delivery will be contracted) - go read the terms. I gave you the book.
And the insurance is just for gaps, what does swap and stop execution guarantees have to do with it?
When the price left after the gap, it does not exist and there is only you and your order with a loss. (I do not understand who dealing with such an idea nowadays, how to cancel orders not to execute a stop at gaps) is another thing, a trader may conclude a contract with an insurer in case of a gap... but it costs a lot and who would do that?
especially in such gaps, so stop bullshitting... Soros gets a half/deposit, and then the gap is opened, - who wants to pay out such an amount?
You started with footing guarantees. Now calculate how much money and who would lose on such gaps. The counter / agent is just a friend of the broker who, if anything, will help with the client.
WHAT WILL THE COUNTER AGENT DO? YOU ARE RIGHT, THE MARKET WAS AT THE FIRST PRICE SO HE CLOSED. Some brokers offer a guaranteed stop loss, but that's a separate story and that's for some (very serious) money. Such guarantees are available for a lot of dough?
And you, you'll be drinking with your girl on the brundershirt.
Gentlemen, comrades, friends and just guys! .... I did not expect this turn of events! The topic is already 6 pages long! I want to say thank you for answering my question!
Indeed! We need to read the rules carefully! Conclusions are made, and for many, this situation will be very useful as an experience with a brokerage company, no matter which one. No brokerage company wants to take losses from slippage. That's clear! I wonder who gives us slippages? A quote machine? But each brokerage company has its own automated quotation machine, as far as I understand. But in this case there is a gap in one brokerage company and in the second one the quotes are denser and the gap is smaller or even absent. Maybe, there will be no slippage? It may mean that we should search for brokerage companies with less frequency of quotes that will exclude as much losses as possible? But it may be important for large accounts.....
Thanks again!
About foot warranty you started. And now think about how much money and who would lose on such gaps. The counter-agent is just an acquaintance of the broker who will help with the client.
WHAT WILL THE COUNTER AGENT DO? YOU ARE RIGHT, THE MARKET WAS AT THE FIRST PRICE SO HE CLOSED. Who molol /// "Some brokers offer a guaranteed stop-loss, but that's a separate story and it's for a separate (quite serious) money." /// that such guarantees are there for a lot of dough? here you have insurance, and it has nothing to do with swaps!
Mr Investor!
Although your post is not addressed to me, but I assure you that there are very serious brokers who provide this kind of guarantee.
I will not go into the essence and the mechanism of implementation of these guarantees - it is their internal affair. I suspect that their possible losses
And the expenses are paid by the client because the service is PAYABLE.
I stand by my words.
.
PS Strange that you are not aware of this.