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Actualy, when you concentrate on "real risk" (ie; what you can actualy lose on a given trade) like I do, the leverage can vary greatly. Some of my trades are unleveraged, and some are leveraged 3 or 5 x capital. ... it just depends on the distance of the stop that needs to be placed to respect...

Lindq, Another thing that I attribute to my success & survival in FX is the fact that I do not "day trade". I look at the bigger picture and do not restrict my trades to a predetermined time. ... some of my trades only last a few hours, but in general, my trades last anywhere from a few days...

Oddtrader, Agree 100%. Personaly, I trade FX, energies, and some equities/equity derivatives from time to time, but in my very holly oppinion, FX is by far the Rolls Royce of financial markets.

The Governor of the Bank of England is to announce in a lecture in Kirkcaldy, Scotland, tonight that Adam Smith, one of the fathers of economics, is to appear on the Bank of England's new £20 note. http://www.bankofengland.co.uk/publications/news/2006/097.htm Adam Smith is one of my...

One thing that has kept me alive is not abusing leverage. I work based on a model, which is "risk management" intensive. I would certainly have to type for hours to explain the whole thing in detail (the model integrates about 30 some calculations just in the risk management side), but to...

Odd trader, You have to understand that FX, unlike other financial assets such as stocks or bonds, is a necessary consumable good. Certain actors need to buy and sell a given currency, for different reasons, every hour of the week. If the entire world can very well dump all the MSFT stock...

For every trade I have open, I have a corresponding stop entered at the same time I open the trade .. always. Gaps in FX are far too small for me to worry about.

No one taking long JPY positions if Tokyo blows up ? ..maybe, but there will be plenty of JPY buying With all these small spec accounts scalping 20 to 100 pips, alot of short jpy positions would be overjoyed to close out their positions after even a 200 pip profit ... and when short jpy...

I've been trading FX for about 13 years now, blew up 2 accounts in my first 2 years of trading and have been profitable and "conservative" for years now. I am not naive. That said, worrying about an 800 pip gap on the major pairs is about as useful as worrying about the end of the world .. if it...

You are confusing "gap" and "drop" . If Tokyo blows up, yes, of course there will be a very brutal movement on JPY. However, despite such an event, I am confident that you could get out of a long jpy position (or into a short jpy position) without seeing a massive "gap"

I've been practicing law in the fund industry for some time now and have set up funds in the Cayman Islands and in Europe. I am not trying to sell you my services, so please don't view this post as a commercial offer. ... it may lead to other interesting possibilities though ... I was an FX...

Just call a decent firm and ask them ... Price Waterhouse, Ernst & Young ...etc. There are several internationaly recognised forms out there.

Cheetos, I just briefly swept through this thread. I sincerely hope you are still enjoying the success that you appear to have been enjoying for a certain time. Now, as several here have pointed out, it may be just a string of "luck" ... maybe you do have a knack for trading, but untill...

A shot early in the morning ? ... might be bad for your image, but if you make sure to restrict it to a single shot (and you are not some 25 Kg toothpick who is having a shot on an empty stomach), it might be ok. Don't get me wrong, I'm saying it might not be harmful, but I don't think it...

"We’ve got native French girls in certain communities, where Muslims are the majority, that now wear the veil because of the frequent occurrence of physical harassment, attack and rape." Oh yes, a very common occurance. Coco Chanel & Yves Saint Laurent are now selling muslum wear ... DUH...

There are definitely problems in France, europe, and the world in general. However, I find that commentary rather excessive and, if I may interpret the tone, it certainly does not sound like anything comming from the work of an objective journalist. In regards to the discussion concerning the...

I see we are dealing with a trailor park type red neck here that has never taken the time to learn much more than what FOX TV is teaching. Your post is nothing more than a bit of commic relief.

Technicaly, gaps are caused by a sudden lack of liquiduty. For example, if all of a sudden almost all the buy orders are retracted from existing levels, the next layer of buyers may be placed at much lower levels. In such a case, should anyone wish to sell (either existing long positions or...

Risk management must be based on realistic worst case scenarios. If we incorporate scenarios that are unrealisticaly extreme, we can just stop trading all together. For example, if we were to assume that it is possible for every component of the dow to go bankrupt overnight, I would then suggest...

I completely disagree that this is a danger. Yes, the market may move massively in a very short time, but the FX market is possibly 10 000 times more liquid today than it was 10 years ago. Therefore, the risk of any sizeable gap on major pairs is now about zero.