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Your guess on how much the Fed will cut.

As of this post, Gold hit a high of $1032.20. Taking a Fib retracement from Nov 20, 2007 of $772, levels are: 23.6% @ $971 38.2% @ $932 50.0% @ $902 Slowly build a short position on the way down. Size in at 1/4 of your full size. Stop loss at $1040. This will be a multi-month short...

a bit of a tongue in cheek comment, but the best indicator is when a trader around you is screaming cuz a position is carrying him to the cleaners. When he finally capitulates, that's when YOU want in. :p

I play World of Warcraft. Lv70 shadow priest. Multimonitors FTW.

trade spot with oanda. this way you can take advantage of the carry trade (interest positive) if you wish. I've never traded FX with futures, but don't you have to pay the spread anyways if you're going to hit the bid or take the offer plus pay the commission? If it is like equities and you...

What a crazy move down in 2 days. Nearly 800 pips in 2 days. I hear it is carry traders unwinding, but whatever the reason, I can't ignore the IR differential of positive 5.2% per annum for taking it long. So I'm in long 130k from an average price of 101.07. Open unrealized profit of...

I live in Canada and if you look at USDCAD, it is appreciating against the USD as well. It is currently trading at 1.0606 on June 10, 2007 and the bankers here are saying it is going to parity by the end of 2007. Although I would like to be contrarian to what bankers say, if they're...

A set dollar figure target PER DAY is unrealistic. Everyone in the business talks about it to the newbies to get them interested in how much you can make PER DAY then multiply it by the number of days in a month/year and voila, >$100k/yr. Where do you account for the loss days? And don't...

By flipping a coin for choosing to go long or short will yield a break even outcome in the long run....minus commissions and associated trading costs. When you put on your trade, you have to set your risk/reward the same. If you want to win $100, you set your stop loss to -$100. Since...

I use a Russian brokerage called Alpari. I have a business account with them that I've used over a year. I use the free API/Expert Advisors and it works well. I tested how quickly I could withdraw funds and wiring from Russia to Canada took less than 24 hours. Of course factor in that they...

"Don't pee into the wind" :D

A pip is the smallest unit of movement. A pip in forex is like a penny in stocks. There's no commission because you buy at the ask and sell at the bid. Sometimes in stocks you do that anyways and pay a commission on top. The broker will always make the bid/ask spread off you. Open a...

You can get into Genesis securities if you want to trade remotely. PM me and I can give you one of the Canadian contacts to get a prop acct.

I know how you feel. I've been there and can tell you that you're on the right track. What I did when I was near broke was to find a day job. I got into a good union job working at a bank that paid a nice hourly wage and I was able to save up and continue my tuition to trader's university...

I use ET and moneytec. I find that ET is generally more useful. Quality of any internet message board isn't going to be exceptional. Just take a look at yahoo boards for equity if you want to see poor quality. As far as quality of posts, I'm not too sure there's a lot of topics to discuss...

bump

thank you for posting so much good information in one easy to read post.

Vocation is a very interesting topic. I went to a friend's 27th birthday dinner last night with about 12 people which about half I have not met before. I quit my 'real job' as a banker and now trade full time. However, when I explain to people what I do, I sense that others think I produce...

Yes, in absolute terms and in PnL for monthly income, what you say is true. However, my question on leverage is one of risk management. My example is: If there is a 100 pip move against someone in EURUSD and that person is using an effective leverage of 10:1, they would lose 10% of...

How much money do you have on deposit with your FX broker and how much leverage are you effectively using to trade? I'm at 10:1