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If your going to try this kind of strategy you might want to consider looking at currency futures and futures options, if you pick the right pair it will be alot less volatile than the ES especially if you initiate it post central bank meeting.

Yes thank you for posting that it will amuse me for hours :D

Well it can be as complicated or as simple as you want it to be. For example I use futures in place of actual currency positions since i dont have to pay interest on the position. One EURO futures contract acts the same as 125,000 in the spot market. So if you think the EURO will be up VS USD...

You know I kind of miss the entertainment he provided. Wonder what his explanation for all this would be :D

Well if your into putting alot of time into research and have a longet time horizon look at currency futures and futures options combinations. One you set up a position you dont have to do much maintenance if you do it correctly and even if you only have a small profit target the leverage makes...

Ok I figured it would be something like that. Thank you very much.

Does anyone here use an offsetting futures position to hedge carry trade risk? Ex. long 100,000 in usd.jpy for the interest rate difference and then sell 1 usd.jpy futures contract for the current quarter?

There was a bulleting about Globex investigating some "weird" options activity on their Index Futures overnight between 1 am and 105 am i think. Something about alot of cancelled trades, thats the only thing ive seen today.

Well youll find out in about 3 min if it is :D

Nope sounds like stocktrad3r w3rd?

No problems here TWS 879.8 Java 1.5

Well so far so good on my original idea cable is down .02 and the euro is only down .003

My 30 min ones are usually set to a week so i can see any swing highs or lows on them. On the YM ive got a 30 min chart for the last week on the right and then next to it ive got a 4 hour 1 min chart and i only take trades on the 4 hour chart that the 30 min tells me to enter. Kind of like...

I have a 30 min chart next to a 4 hour chart in the same screen per contract and use the direction of the 30 min to determine which direction to lean on in the 4 hour charts.

Yeah I thought about that but im using a EUR position back from 1.45 to hedge a large cash position stuck in a CD that I have to convert to EUR in a few months so the GBP short is more of a hedge against a hedge, Ive noticed that in the last few weeks when USD is strong the GBP falls more than...

Im thinking maybe doing a spread between GBP/USD and EUR/USD short pound long euro

w3rd :D

It was funny to watch how hard people were trying to keep it from going below 13k around 3:00 today. I almost got stopped out before it finally did.

w3rd bro w3rd could not have said it better myself :D

Traded the backup today with single contracts. +93.76