torero

There's one conclusion I can draw from all this mess: no matter how smart you are, what school you graduate from (esp. bragging rights at wall st.), in the end, we all succumb to greed; there's always someone who will outsmart you (rogue trader from SocGen in France). The worst thing of all is these guys command such large sums of money it's scary to think they're all dumb asses just like us. Sad indeed.

Dang, the more the Fed pumps, the more the leaks are opening up. This is like a little boy plugging a hole in the dam with his finger... just the beginning of more things to come I think. First bailout since 29 crash. The currency market is going nuts, some dropping GBPJPY dropped at least 10c during Tokyo hours... very volatile, indeed.

Nice things about piratebay is that there is comment/feedback section for each entry so if it's infected you'll know about it (even fakes and lame ducks will be exposed quickly)..... so i hear

Here's my idea on how this can be done. It's been common in real life for a couple of traders to get together and rent an office to save $ and of course get rid of the boredom and loneliness, etc. So my idea is similar to this idea. A member here gets to pick or asks a 2-3 fellow members to be their confidence men where they can build up the close-knit communication and sign some sort of confidentiality or non-disclosure before passing out their statements. This means there should be no hiding behind the usernames but real names with real addresses, phones etc. I assume it takes time to build up the relationship but if anyone wants to get serious this is the only way to go to the next level. I think the sure way to tell if the member is committed is seeing how long he's been on the forum and how many posts he's made (optional because it doesn't really tell much the quality of the member but by seeing participation on a regular basis you know there's no gaps of interest to the forum). But finding the right partner(s), there has to be similar trading styles, instruments etc in order to understand each other's method more or less. I know this might be a bit much but hey, anyone wants to be profitable down the line, some risks have to be taken, wouldn't you agree? How's this idea sound? Thoughtless or useful?

I think trading is one of the trickiest part in holding yourself accountable. Other than the fact that you're the only one who caused the losses in your equity, that's the obvious example. But others, that's more difficult to do, especially having another person who may trade totally different from you, so he may or may not know your plan or system by heart to tell you where you go right or wrong. Worst, trading is a lone job so it's even more difficult to get anyone involved. Currently, I trade with my dad so it's obvious the accountability is open everyday through our communication and of course our daily P/L. Getting someone involved has to be the right person who understands the same objective is right way. Maybe not necessarily your boss but an equal but tough-ass, "call it as I see it" kind of trader as your mentor/partner.

It's true, they make money from commissions and not from spread rigging. I think he AgeKay meant the professionals go for institutional category platforms. There are beginning to have some decent retail forex brokers out there. I think exchange-based traders are still uncomfortable with trading forex markets.

I agree with Cowboy, I've noticed the feed was quite reliable in high volatility period (last NFP and interest rate news). Please don't take as FXCM brokerage package, quotes and feeds only (I placed a rating for these guys on another part of the forum). I have a second feed as back just in case, but FXCM seems more reliable so far.

I think it depends on where you are as a trader (beginner, advanced or vet). Giving someone a book that's too complex hope help unless he goes through basics first.

So it does have some influence. I was looking at this range to play and wasn't sure if holding it through the NFP would be a good idea. It's NFP may help break this range play if it has a big impact depending on results. Thanks, millard

I agree with BF on that. When you have such high expenses, you either make more than that to offset, that means you must be trading large positions. If you're experienced in making year in year out, the costs I assume are reasonable but for beginners or someone who needs little, it's overkill.

I figured that as much. Is this one sensitive to US news such as NFP or rate changes?

I was introduced to this pair a few weeks ago (in chat room. Thx Jwhite) and I'm amazed with the move. I thought Guppy swing was wide, but this one tops it all, wow! And I thought CHF was boring. Anyway, I see that the pair spread is a bit wide (average 5 pips). I assume this is only way to profit is a longer term play (I'm a day trader). Anyone has recommendation the minimum time frame I should be looking at to trade this pair? Thanks.

Hey, this is great! Thanks, I'm sure I'm going use this since I use MBT. It's a same MBT doesn't have this same analysis like TS.

Is it me or is the last few days the GBPJPY and EURJPY markets have been in a tight range? I've been getting a lot of false breakouts here. Not sure if it's the beginning of the month thing or what. Even somewhat important news don't seem to budge them too far.

Great and yeah, make it random, James. Try not to pick any names except moderators. Try not to pick names that don't start with T. Try not to pick users with have less than 1000 posts... you get the picture! (and don't make me say "oooh, ooooh, pick me, Mr. Cotter!!!!"). JK. Good luck all! Should be a good book to brag!

Well, if I want to see a fight, I'd watch boxing or WWF but it's sport where young children think it's the norm to fight while playing sports. Imagine if you can do that in American Football without the penalties for personal fouls, dang, that sport will really teach our children to learn to fight first before learning to play if you are to survive the "sport". It's the only sport I know where the penalty is too light, fights don't affect the final score. Then again, you have soccer fans that watch a civil sport and they themselves wreak havoc and each other... sigh... ironic isn't it?

I don't mind the pushing and showing during play but the ref sitting out while the two just go at it when the puck is not even the object of desire anymore? That's just wrong. Might as well get rid of the ref and have the announcer do all the calls, that way, no one gets hurt except the two involved.

I got nothing against this sport, but I don't understand how a guy who's in control of the puck and gets taken away with a bump or a push. It's too violent to consider it a sport. I admit these guys have extraordinary ice skating skills and shot-making, but the game itself is not for me.

You might want to look at COT (commitment of traders), a report that reveals who buys/sells what and at what volume. Many use these to gauge the market tendencies. Google these words for some info.

When you place fib grid, you have to know what you want, a price projection or retracement. Once you've determined that, you have to determine your nearest high and nearest low. Depending on your timeframe and your style of scalping or intraday trading, you can determine if the distance of your target and stop loss to fit in with your style. It look like you did ok on the 2nd chart, using important pivots to place the grid. I usually use 50% most of the time since it's the most reliable.

Nice! Welcome aboard mr.ed. Thanks for the FF tips.

Yes, Van Tharp is good but not a complete book for beginners since it's not comprehensive. I've never heard of Kahn so I can't comment. You can go to Amazon and check out Alexander Elder, John Murphy, Edwards and Magee. These should get you started. Check book reviews on this site as well. Hope that helps.

Welcome Verona, I think this is the reason why we're all here, understand the market and possibly learn how to predict the market. That's the Holy Grail for everyone but unfortunately, the best way to anticipate is using technical analysis or fundamental analysis. Since you're expecting 2-3 weeks of forecast, might want to try technical analysis. Go through this site, I'm sure you'll learn something worthwhile toward your objective.

What do you mean by "which volumes to buy without losing?" Can you be more specific?

wow, that's english?!!! Sorry, options are too complex for me to deal (heck, futures is complicated enough, not to mention making a profit out of them). I'm sure someone else have more experience in this.