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I traded spot through IB for a little while and found it to be a pain. Maybe it's gotten better since. If you're planning trading futures through IB, why not just use those prices? If you use spot you would have to do everything in reverse for USD/JPY since the futures are quoted the opposite...

If you use an ECN you are accessing the interbank market, and if you use a respectable non-ECN broker, you have absolutely no problem doing trades whenever you want.

While that might be the case for other futures, it is most certainly not for the financials. Forex futures prices account for the interest carry involved. Basically, they are priced (through arbitrage) so that one couldn't earn an excess return by holding opposing spot and futures positions...

I can understand wanting the security of exchange trading, but if you think that you can get better liquidity and lower spreads through futures, you're totally off base. No market is more liquid than spot forex ($3 trillion in daily volume) and spreads in the major currency pairs are very tight...

True enough, but only assuming that you are not taking roughly equals amounts of money out of circulation via taxation and/or borrowing. Government tax receipts are running at very high levels and so is the debt level. I don't have the specific figures, so I'm not sure if it's a direct offset or...

In general terms I would use the equity value of the account at the proposed entry point, figure out what your stop point is in terms of risk, and calculate contracts like you did in the first place. If the new risk/contract is the same or less than where it was when you started the position...

I presume you mean to say not publishing the M3 hides the printing of $$$. Since there are umpteen other money supply statitics available from the Fed and elsewhere, I really don't think they're trying to hide anything.

I'm waiting for someone to explain the causality of all this. How does the discontinuation of collecting/reporting a statistic tie in with the value of the USD?

Freedom of speach may not be impeeded by the government. That's the deal. Private operations - which this site most certainly is - can do whatever sensoring they like.

Been trading for 20 years. Been reading for a lot longer than that, but so far nobody's paid me for it. Don't even care to think about all the $$ I've spent on books over the years. :)

It's been quite a while since forex trading was just for the banks.

I've read Tim's book (he asked me to review it pre-publication), plus Wizards and Reminiscences, but not Fooled as yet. Of the ones I've read, Wizards is far and away the best, IMHO.

For the sake of accuracy, what you want to trade is AUD/JPY. I don't think you're going to find too many places where you can trade JPY/AUD. The former is the market convention.

You might be correct for position and swing trading where the pip moves are bigger. I know I certainly don't get anywhere close to even 50:1 (my broker's max) when trading in those timeframes. I can imagine scalpers and the like, though, can gear up at higher ratios given the smaller moves...

The results of a trading method, system, etc. comes down to two primary factors: 1) Win % 2) Winner/Loser Ratio (R) If you have a sufficiently high Win % you can have an R of below 1 and do quite well for yourself. It's basically a question of expectancy. There is actually a third...

And don't forget that not only will you have three pair spreads working against you, you will have three sets of carry rates, and that interest is always going to work out against you as well.

That might be a good measuring stick for your particular style of trading, but I would be willing to bet there are quite a few folks on these boards who operate quite profitably at much lower R factors.

Liquidity and price volatility are not the same thing. The action might be quiet (low volatility), but you can still get into and out of positions just fine (high liquidity).

If you want to be an investor in the Rich Dad fashion - meaning holding assets which produce income for you - then in the markets you're talking about the stocks, and dividend paying stocks at that.

I for one will not agree, and I'd certainly hope your's is a minority view. We may disagree, believe him incorrect in his view, feel he is misinformed, and generally have a strong desire to prove him wrong :) , but I don't think most of us feel the gentleman to be unintelligent.