guys, I hope someone could decipher what this new NFA rule means. This popped up in my fxcm-micro account, can't imagine trading without stop-loss orders .
" A major new NFA rule goes into effect after July 31, 2009 which affects all US regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the Open Positions Window. As these features will be removed, all stop-loss and limit orders held on FXCM LLC accounts at the close of trading on July 31, 2009 will be deleted.
For clients with Managed accounts, please consult with your money manager prior to taking any action. These changes may not affect your money managers trading strategy. "