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I don't know which markets you trade, but the other players in the markets I trade ARE out to get me -- I don't know why that seems so implausible. Obviously it's not personal, but if everyone is looking to profit, it's gotta come from someone else's pocket. Just because you aren't...

I wonder if the real rally will be EUR/JPY into year end. The momo funds would like to see EUR/USD finish at highs but I think they are pressing and hoping. They sure were trying hard to push things higher a number of times today.

Well the most buyable pullbacks are the scariest to touch, so it could bounce big here -- just not gonna bet on it.

This feels like a little more than the garden variety pull back to me, same with the bonds.

Gotcha.

You're gonna need at least that much if you want to survive and learn in any case. And no one is forcing you to trade at minimum required margins, put down 20K and you can trade a single lot for quite some time while you educate yourself. "Forced leverage" is just the nature of the game...

Just curious Ivan, are you trading silver off Oanda? The spread is bad enough on ecbot's ZI/YI -- have you ever compared quotes side by side with what's executable on your platform?

Yes, please explain what you can do on the spot retail level that you can't on globex? Is it the fractional position sizing?

Yes we know, for big shots like you who swing 20mil blocks at a clip, spot market is the way to go. :) But we're referring to retail fx here, and just trying to give practical advice for the typical individual trader. You could try to daytrade Google using your full service broker over the...

Even if globex is not the liquidity center for the fx markets, the arbs ensure that the quotes on globex reflect the most current price. The only priority at a retail fx broker is profiting at their customer's expense. You may ask how a business model such as this can survive in the long...

Makes you wonder right? Is it really just the fact that these people can't scrape together more than a few grand to trade with, that they have little choice but to not trade on an exchange where vast majority of financial instruments have been traded for decades? I remember starting out...

You're kidding right? Some managers of billions of opm are the biggest gamblers of all (and justifiably so).

Curious, why don't you use currency futures?

The capability to move one's stop to break-even is nowhere near the peak -- maybe just a tram ride to the mountain base? :D

But why do you need it to be "not gambling"? For what purpose does this serve? There are many endeavors that provide a steady paycheck, trading is not one of them.

Agreed, most on these boards strain to eliminate uncertainty from their interactions with the market, as if that would provide validation of one's "edge". Unfortunately they usually end up straining out 90% of the possible profits at the same time.

There is no such thing as permanent positive expectancy in trading equivalent to the "house" or casino. In fact, most traders, including the successful ones, are the mirror image of casinos when it comes to "gambling" -- they'll have a high-probability edge that yields very good short-term...

I learned to stop learning and just do. :)

You had to be a bit concerned by 10am though, no? Did you stop out and re-enter, or just pray? :) Nice call in any case.

He seemed a bit unsure himself hehe, so who knows. Thanks.