10 Pips Per Day - Everyday

Quote from giles117:

Not to get in your fight....
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Who are you kidding, you love it :)

How have you done today? I did two trades on Eur/Usd for a miserable 18 pips and gave up!
 
Quote from giles117:

Guilty as charged. LOL.
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And the punishment, a week of confinement in a 10 x 8......with only forex-forex for company!

(just kidding forex-forex, we love you man)
 
Quote from cabletrader:

% risk is usually accepted as meaning % of account equity at risk and not a % adverse move in price against a position, I automatically assumed a trader would know that, my mistake. I should have explained it better for people who aren't familiar with trading and the terminology used.
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I am quite familar with trading and the terminology used - once again, the snide commentary isn't necessary. But your post could have been taken a number of ways.
 
Geez Ivan it's a friendly little dig....

Example. I was at the mall with the fam yesterday and my wife was talking to a sec guard. Somewhere in the convo she took a shot at me and I didnt have a quick and snappy comeback.. It was a friendly dig. It wasnt personal. I laughed the security guard looked in shock, etc...

We would figure with 3000 + posts you have a clue...

Change your perspective, change your world...
 
Quote from Ivanovich:

I am quite familar with trading and the terminology used - once again, the snide commentary isn't necessary. But your post could have been taken a number of ways.
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Snide commentary? It's not meant to be snide, if you were familiar with terms such as risk, Profit & Loss, and Win:lose then we wouldn't be having this conversation!

Let's agree to disagree and move on shall we?

Virtual handshake, and apologies if I have offended you in any way.

(I must be getting mellow in my old age :) )
 
Quote from Panamadan:
That is probably one of the biggest differences between forex and the other markets. Since your positions are always involving a pair, you are always long one, and short the other.
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All markets involve long or short pairs.
  • AAPL/USD
  • RIMM/USD
  • RIM/CAD
  • GOOG/USD
  • NT/USD
  • NT/CAD
  • YM MAR 08/USD
  • NQH8/USD
  • YG FEB 08/USD
  • EUR/USD
  • USD/JPY
  • GBP/USD
Quote from Panamadan:
The currency futures and options are all USD based, so they are all reversed, as in your example with JPY/USD. For anyone accustomed to the usual forex pairs, it is different. It also makes it much more challenging to take a non-USD position, such as GBP/JPY, with futures or options!

Until last week, I did not know how it could be done, but after finding out how, it is an interesting new twist, to say the least.
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Solution?

I think below is correct but I didn't look up the USD amount on the GBP and JPY future contracts, a true non-USD currency future position should be long and short an equal amount of USD when the position is opened. The stock examples should be OK.
  • Buy (or sell) GBP Future BPH8 and Sell (or buy) JPY Future JYH8 = long (or short) GBP/JPY future position.
  • Buy 360 AAPL shares and sell 100 GOOG shares = long AAPL/GOOG.
  • Buy 540 AMD shares and sell 140 INTC shares = long AMD/INTC.
 
Quote from forex-forex:

All markets involve long or short pairs.
  • AAPL/USD
  • RIMM/USD
  • RIM/CAD
  • GOOG/USD
  • NT/USD
  • NT/CAD
  • YM MAR 08/USD
  • NQH8/USD
  • YG FEB 08/USD
  • EUR/USD
  • USD/JPY
  • GBP/USD

Solution?

I think below is correct but I didn't look up the USD amount on the GBP and JPY future contracts, a true non-USD currency future position should be long and short an equal amount of USD when the position is opened. The stock examples should be OK.
  • Buy (or sell) GBP Future BPH8 and Sell (or buy) JPY Future JYH8 = long (or short) GBP/JPY future position.
  • Buy 360 AAPL shares and sell 100 GOOG shares = long AAPL/GOOG.
  • Buy 540 AMD shares and sell 140 INTC shares = long AMD/INTC.
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Good point, and of course, you always short (sell) something to buy (long) something else. No argument there.
My reply was intended to compare cash forex with futures and futures options.
 
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