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Israel bombing Gaza? Maybe... still no major news out. Anyone have a bloomy setup at home? http://today.reuters.com/news/newsArticle.aspx?type=topNews&storyID=2005-10-27T031112Z_01_YUE652904_RTRUKOC_0_US-MIDEAST.xml&archived=False

Seems too old to have had such an effect, unless Israel decided to take premptive measures, like blowing something up in Iran... could be the bird flu too... -Neo

Shouldn't you include Coinz too?

Nothing strange about it if its a high probability setup... but I seriously can't tell by the tone of his voice if he is being serious or just facetious to his doubters...

I am afraid to ask if you are being sarcastic or serious...

Market Top?

This is a bit off topic, but can someone tell me what was the open, hi, lo and close for the YM on July 29th for the day session? I lost one of my notes... Thanks in advance, -Neo

When the volatilty rises the banks offset some of this high volume selling by raising the spread... A higher spread discourages some selling and it gives the bank more breathing room to offset their position and gives them bigger profits in fees. -Neo

sKaLpZ, I don't want to be condescending, but are you trying to compensate for your lack of a college education? It is my impression that you are trying to instill upon everyone here that you are a successfull forex trader and therefore a Phd/MBA is a waste of time. I agree that a degree is...

No OfmY, in this sense it means that the bank makes money from the middle of a transaction. They get paid for bringing a buyer and seller together to do business. An Exchange like the CME or CBOT are perfect examples of middlemen, they "make a market". -Neo

In short, a large part of the banking business is the art of being a good middle man (aka market maker). -Neo

The FX markets main purpose is not really to speculate on currency, it arose because of the need to trade real products between nations. So when a bank takes the other side of your trade or the broker's it knows that there is a pretty good chance that there are businesses which need to...

What about when you have a late day reversal? Shorts caught with too little time to cover and have to cover the next day...

hmmm, so you are making $1750 from 70 trades and losing $1500 from 30 trades out of 100, with a profit of $250 total? Any idea how your commissions are going to effect this? -Neo

Maybe you can find him here.... apparently he does well for himself renting out his Hamptons House: http://www.marcelshouse.com/ his email: marcel_link@yahoo.com

Not very hard... as long as you can compute profit/loss/breakeven on stradles and stangles you should be fine. When I took it there were a lot of options questions. I hated the IRA/retirement plan stuff, but thats just because it was a lot to memorize. The options part is the hardest part math...

The numbers come from a study done using data from brokerage firms a long time ago, but you are probably right. Even though thousands of businesses start and fail each year there is no reason not to try, just look at all the successful one... same goes for trading, if you put in the hard work...

MBA is Masters of Business Administration, Phd is a doctorate in a given field. Phds are a lot harder to get and take more time. You can be a professor after a Phd. -Neo PS. I have nothing against FXsKaLpEr, but I wouldn't take his above advise too seriously. He trades a small FX account...

I had an interview in August for a trader position at a branch office of a large European derivatives house in NYC, the person I spoke with suggested getting an MBA first before I go any further, I asked him about their quant positions and even thought the top spots are filled with math and...

Man, this thread has degraded, just like a lot of threads on ET. It used to be my favorite over the last few weeks in addition to the PnL thread... any chance a MOD can clean it up, by removing all the bickering posts? Lets get back to just trading the YM and discussing strategies... -Neo