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Looks like I'll get at least one more overnight session (Asia) to see if gold bugs/trend followers spit the bit on the metal's rally (at this slightly-over-700 level at least), bringing my YEN shorts into profit. Keep your fingers crossed.

Comments on this scenario: If overnight tonight (Asia starting in an hour or so), Asia disappoints by failing to push gold further beyond 700 -- such a continuation of the metal's heat being expected in my view -- that failure may prompt gold profit takers in Europe (later this overnight) to...

USD has rolled off the edge of a table, but won't YEN profit takers and/or gold profit takers, or less obviously resistance at USD/Yen 110.00 cash, prove a USD buying opportunity? I ask because colloquy on the YEN has dried up.

Down the line, the last few years will come to be seen as the Golden Age of Bucketeering, with the forex retailers the stars. Those retailers make the lawless stock bucket shops of the 1920s look like penny-ante amateur operations.

I checked Saxo’s website after seeing your tout (above), to refresh my memory of the site as a former Saxo customer. I found these gems on it, with the key parts that Saxo forgot to mention added in bold: “When trading with Saxo Bank, we quote you a firm price that is guaranteed. Except...

Trading scams are so yesterday, don’t you think? Where’s the inventiveness, the cheek? Bre-X and zzzBest – those were cons.

You trying the trick pulled by the BAWAG bank scion? He's the Hamptons swell who hung a billion-plus in losses on his dad's bank. That's what I read.

Have you seen the "Latest Broker Ratings" section of the ET homepage? Saxo is rated negatively by six of seven raters.

Mrs. Savant, First my sympathy (and probably of many other ETers). To your remark: I believe the raters are honoring the ET practice of tongue in cheek. Their ratings are send ups.

Thanks for the link to the Post article. The article is worthy of quoting here, particularly for the benefit of any customer of a fx retailer prone to believe what the retailer tells him, directly or through the retailer's agents on boards like ET...

Good question. Another good question is why RefcoFX's website still contains (I mean right now) this howler (the part in bold): Why RefcoFX Experienced Sales Traders Safety of Funds Risk Disclosure . . . The blurb is from the sitemap of www.refcofx.*om/.

Rationality, or "sense" (to quote from your post), dictates that the fx retailer bucket (hold) its customers' trades, not the contrary. A retailer would be negligent if it didn't hold the trades and use its pricing power and price algorithms to exploit the net position it owns as a result of...

Agree. Good comment.

thanks

Stopped out, drats! At this rate, I'll have to go to Spametiva for its five-buck starter account with one-cent margin.

My pea shooter didn't scare YEN bulls. My two YEN shorts, entered this session at avg 8550, underwater all day, but have improved from 8582 session high (which was 70 percent of the distance to my stop). Still expecting US interest rate expectations to win out sooner rather than later, i.e...

I expect near month (June) YEN futures to trade below .008500 most of this week, and nearer .008400 than .008500. Will short one or more this session, entry T.B.D. Won't enter above 8555, since I'll set stop(s) not less than 40 ticks from entry and no higher than 8595. Will look for more...

Ah, but the thread's back, reposted. Can't keep those Master Traders down, I guess.

Appears the mod has deleted the thread in which the link appears.

I missed the testimonials, so overawed was I by the headline.