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Close both positions and move on? Eur and cad can go opposite directions for a long time (see May to July), you may just be adding fuel to the fire.

I think the most glaring difference between trading equities and futures is the fact that you can easily blow out your entire account with a SINGLE transaction. Perhaps a bit more difficult to accomplish with eminies and the vol of late, but for just about every other futures market that...

That's good news, optimum has always been pretty good but it's about time they upgraded.

Missed this reply -- on further thought I'm leaning towards the attitude that the line between prognostication and timing keeps getting blurrier, with technicals being just another 'fundamental' to watch for. I suppose with a fund of Caxton's size, precise timing isn't as crucial as judging...

What gave you the idea that simple recombinations/regurgitations of past price and volume would offer you any hint about the future in the first place? Unless you are assuming you can be faster than the "crowd" that uses those same methods -- but like others have mentioned, you are a bit behind...

I think I'm now the frontrunner for the Most Straightforward Reply from Grob Award (or is he just getting better at dumbing himself down to his particular audience?) :) But seriously, after racking my brain for some time, your solution is an *ideal* one that I most likely cannot put into...

There is no point in teaching people what not to do; all the trading books out there already have this information. A beginning trader doesn't really believe in anything until proven to him with experience (losses), and it may not even matter beyond that. "Mentoring" in what not to do will...

Right now you can buy a sept AUD contract at .7654, while cash trades at .7676. The difference is the interest yield for holding that contract until expiration. edit: it would seem that using a futures contract would simplify the entire system, as your interest is already rolled in...

Why is that?

If I were still trading off pure technicals, I'd much prefer culling through the equity world with hundreds of tradable names than to sit and stare at a single index future. That said, since you mention news risk for holding single companies, I assume you're not just trading intraday and have a...

You might want to take another look into what you believe is 'edge' in the first place if you truly believe in the above, before you get all the quants stiff rubbing against each other. :)

If you'd been familiar at all with the way skalpz "trades", the sarcasm would have been much clearer :)

That's the thing about carry trades in general, when an adverse shock like today occurs, the hidden cost of interest differential is revealed as the yen gets pushed higher than otherwise would occur from those very same ppl who've shorted it for the rates. But yen has been in a pretty...

No, this is what you do: You enter a position; it goes your way, everyone hears about how you just took out a few hundred pips. However, when it goes against you a few hundred points, you've only just lost a mere .00004% of your account. That's what I mean by "trading to be right" vs...

*lol* You were the one who asked if stops are relevant. They are only useful if the element of timing is involved in whatever edge you are applying to the market. If you are just randomly guessing which way currencies will bounce around then you're better off doing what you've been doing.

Well either you trade "to be right", or you trade to make money. You can use tiny incremental lot sizes to facilitate averaging down and get a very good chance of eventually getting out "even", and never having to admit you were wrong -- but you won't make very much on your good calls...

Servers backed up or what? My time and sales is about 3 minutes delayed.

Nice timing! :)

The 'relaxed state' Grob writes about when one first releases himself from the restriction of goals is nicely put (incidentally, similar to the feeling I had the first time I went from long to short in one shot -- release from the restriction of my positions I guess, don't know why but the...

Even though chinook doesn't post much anymore, I'll have to say his thread was one of the few fx journals that stayed honest and never degraded into showmanship or other bs (yes, people actually get stopped out here :)). Glad to see you're back posting, looking forward to your thoughts...