FXCM hmmmmmmm.

Quote from WinSum:

I found another event that is playable on FX. After the dismal first day results in the Treasury Refunding, I shorted the USD on the 7 major pairs.

I figure that if we don't want US debt, why would other countries want them. Working under the assumption that there would be no increased demand for USD to purchase the US debt, I shorted the US dollar last night. All 7 position were profitable this morning when I close the positions.

Maybe I can do it again on the next quarterly refunding.

:)
More...

Maybe yes...

It does rather depend on whether there is enough appetite for more debt. This last round's take-up looked pretty thin, but I wonder how much of that was seasonal as well.

Best

Natalie
 
Quote from WinSum:

I found another event that is playable on FX. After the dismal first day results in the Treasury Refunding, I shorted the USD on the 7 major pairs.

I figure that if we don't want US debt, why would other countries want them. Working under the assumption that there would be no increased demand for USD to purchase the US debt, I shorted the US dollar last night. All 7 position were profitable this morning when I close the positions.

Maybe I can do it again on the next quarterly refunding.

:)
More...


nice work !!

best,

surfer:)
 
BTW, just replied to one thread about volumes, and wanted to note here for you as well one thing as long as we are getting familiar with forex and fx brokers:
You all see the banner up there claiming a while ago 1.5 trill, right?
Well, funny thing is that its not 1.5 trill since 2001 - officially. And they were using it up untill recently, before it was posted many times on boards. I dont belive that GAIN and other brokers using 1.5 figure in irder to stress the liquidity of forex didnt know it.
The data we have right now is not upto date. And when someone is pointing out 1.5 trill, the data may be only of october 2001, as thats the latest press release out there. This data (and other statistics on currency and financial direvatives markets) is released by national central banks once in every 3 years. The coordination is made by BIS (bank of international settelments), which is empowered by G10. Last release of 2001 was based on data provided by 48 central banks and monitory authorities.
According to that vary release, volumes on forex market were increasing till 1998 (thats where we had 1.5 figure) and in 2001 - reduced. The fall in volumes occured after the asian crysis. And the main sector of market where the fall occured was the spot market (thats what we are "offered") - take a look 570 bil in 1998, and fell to 390 bill in latest report. So the latest tendency back then was - volumes on spot reducing. We are offerd spot market, and the volume on spot market according to chart was 387 bil/day...Anyways, I dont really get it what's the relevance of liquidity if our trades are not taken out on interbank at all? 100k and 200k contract cannot be traded out there...so whats their story of not revealing the truth and playing theater...? I dont know. Well, I do know - who would trade forex with (lets say) GAIN or FXCM, knowing from the begining those are ones who have to pay you in case you win, and not other market participant...Will they do everything in order you to loose or will they play fair...? :D. Let me ask you: would you play fair knowing theres no serious regulation? nope. Especially, when you sign at the begining, that they have no obligation following other price data, and prices they provide are those they are ready to deal at (i.e no interbank/rater/teletrade.dow jones/bloomberg rates).
I think this would lighten enthusiasm of potential clients. As for me, I dont care, and even for beginers I would say not to worry. But I guess for advertizing and promotion it wouldnt be that good...just for you to know.
btw, url of bis www.bis.org
best regards,
Rezo.
 

Attachments

Quote from rezo_s:

BTW, just replied to one thread about volumes, and wanted to note here for you as well one thing as long as we are getting familiar with forex and fx brokers:
You all see the banner up there claiming a while ago 1.5 trill, right?
Well, funny thing is that its not 1.5 trill since 2001 - officially. And they were using it up untill recently, before it was posted many times on boards. I dont belive that GAIN and other brokers using 1.5 figure in irder to stress the liquidity of forex didnt know it.
The data we have right now is not upto date. And when someone is pointing out 1.5 trill, the data may be only of october 2001, as thats the latest press release out there. This data (and other statistics on currency and financial direvatives markets) is released by national central banks once in every 3 years. The coordination is made by BIS (bank of international settelments), which is empowered by G10. Last release of 2001 was based on data provided by 48 central banks and monitory authorities.
According to that vary release, volumes on forex market were increasing till 1998 (thats where we had 1.5 figure) and in 2001 - reduced. The fall in volumes occured after the asian crysis. And the main sector of market where the fall occured was the spot market (thats what we are "offered") - take a look 570 bil in 1998, and fell to 390 bill in latest report. So the latest tendency back then was - volumes on spot reducing. We are offerd spot market, and the volume on spot market according to chart was 387 bil/day...Anyways, I dont really get it what's the relevance of liquidity if our trades are not taken out on interbank at all? 100k and 200k contract cannot be traded out there...so whats their story of not revealing the truth and playing theater...? I dont know. Well, I do know - who would trade forex with (lets say) GAIN or FXCM, knowing from the begining those are ones who have to pay you in case you win, and not other market participant...Will they do everything in order you to loose or will they play fair...? :D. Let me ask you: would you play fair knowing theres no serious regulation? nope. Especially, when you sign at the begining, that they have no obligation following other price data, and prices they provide are those they are ready to deal at (i.e no interbank/rater/teletrade.dow jones/bloomberg rates).
I think this would lighten enthusiasm of potential clients. As for me, I dont care, and even for beginers I would say not to worry. But I guess for advertizing and promotion it wouldnt be that good...just for you to know.
btw, url of bis www.bis.org
best regards,
Rezo.
More...

Thanks Rezo

Interesting information there. It does make me wonder when they are sooooo agressive is seeking the business. I'm getting spammed by them almost every day, and it is relentless. Adverts, and e-mails from account execs trying to win business. (Who can blame them for trying to make the sale anyway, But they would be far less agressive if they couldn't see lots of upside for taking accounts on.)

I note I've not been spammed by stockbrokers, who gain commission for RT's, so it does make me wonder. Now you posted this it makes me wonder even more.

Best

Natalie
 
Hi, Natalie.
Just to stress it once more - I trade forex, and only forex.
Its just that there were times I had so many questions and no answers. So I want it to be open for others now. I mean, when I started FX (1997), there was . this little info (just as that dot) avaliable on fx, and naturally broker wouldnt give you no answers about how it really works...they were "feeding" people with answers like "we are setting togather 10*100k trades like yours and take it out to interbank...we have very big infrastructure, coordination and cooperation with many banks and other brokers, so we can do that in matter of sec". Obviously its a bull, and I posted while ago why this is bull. Now came minis... so now they are making 100*10k to take it out..? :D" give me a break. Just for fun - try and ask broker how exactly is your mini 10k deal taken out to interbank market. Do you think you'll get the answer? Nope. The best you can get from them is "I dont know how it actually works, as I am no dealer, but one thing I can assure you is that we dont play against our clients"...hahaha - thats the answer I got lately (well, about 6 months ago) from fxcm. I did it just for fun. I know those are just bookmakers, but you can try it.
There moto should be "We Do Everything Forex To Look Nice".
But with all that said, I dont know better market than FX. I grew up on it, and I wont leave it. I dont even know if its worth to get to real interbank market. There are many bad sides as well. But I guess the way things are going (and I hope they will go), I will have no choice but interbank in the end with large volumes. But its all for the best.

GL,
Rezo.
 
Quote from rezo_s:

Hi, Natalie.
Just to stress it once more - I trade forex, and only forex.
Its just that there were times I had so many questions and no answers. So I want it to be open for others now. I mean, when I started FX (1997), there was . this little info (just as that dot) avaliable on fx, and naturally broker wouldnt give you no answers about how it really works...they were "feeding" people with answers like "we are setting togather 10*100k trades like yours and take it out to interbank...we have very big infrastructure, coordination and cooperation with many banks and other brokers, so we can do that in matter of sec". Obviously its a bull, and I posted while ago why this is bull. Now came minis... so now they are making 100*10k to take it out..? :D" give me a break. Just for fun - try and ask broker how exactly is your mini 10k deal taken out to interbank market. Do you think you'll get the answer? Nope. The best you can get from them is "I dont know how it actually works, as I am no dealer, but one thing I can assure you is that we dont play against our clients"...hahaha - thats the answer I got lately (well, about 6 months ago) from fxcm. I did it just for fun. I know those are just bookmakers, but you can try it.
There moto should be "We Do Everything Forex To Look Nice".
But with all that said, I dont know better market than FX. I grew up on it, and I wont leave it. I dont even know if its worth to get to real interbank market. There are many bad sides as well. But I guess the way things are going (and I hope they will go), I will have no choice but interbank in the end with large volumes. But its all for the best.

GL,
Rezo.
More...

Thanks agains Rezo

That has confirmed my suspicions completely. Let's face it, they wouldn't stalk ptential clients so agressively if all that was in it for them was a couple of pips on each trade made would they?

Sounds more and more like spreadbetting companies over here.

Best

Natalie
 
Quote from rezo_s:


I know those are just bookmakers, but you can try it.
More...

Did someone mention before in another thread about there are some differences between spreadbetting and CFDs?

Are they both market makers/ bookmakers? (What are the differences again, anyway?)

:confused:
 
http://www.saxobank.com/

Are a decent lot, and have the bonus of a guarentee on accounts (albeit a small one)

The Danish Guarantee Fund for Depositors and Investors secures depositors and investors in the event of a financial default by banks such as Saxo Bank. Any depositor's or investor's cash deposit is guaranteed against bankruptcy or suspension of payments up to a maximum DKK300,000 (approximately EUR40,000) and securities of up to EUR20,000.


Founded in 1992, Saxo Bank officially attained European bank status in June 2001 and has rapidly risen to become a strong presence in online trading over the Internet.
Saxo Bank is based in Copenhagen, Denmark and was founded by joint CEOs Lars Christensen and Kim Fournais.
We currently employ over 180 people from 29 countries to service our clients in 115 countries — even with most of our trading being conducted online, we take pride in the level of personal service that we offer our clients.
We employ a number of specialists in our different trading areas and have our own in-house market analysts.
Trading at Saxo Bank is primarily done through our SaxoTrader advanced online trading platform which was developed by our own IT department.
 
Quote from rezo_s:

Just for fun - try and ask broker how exactly is your mini 10k deal taken out to interbank market. Do you think you'll get the answer? Nope. The best you can get from them is "I dont know how it actually works, as I am no dealer, but one thing I can assure you is that we dont play against our clients"...hahaha - thats the answer I got lately (well, about 6 months ago) from fxcm. I did it just for fun. I know those are just bookmakers, but you can try it.
More...

I believe this kind of market making operations of different forms has been existed (legally?) in the financial markets for long time.

I know some FX firms do state, even on web sites quite clearly to their customers, that they are simply market makers.



:eek:
 
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