Hi
Does anyone has an idea how can a forex trader use a clearing house to settle open trades? Any names?
thanx heaps
Does anyone has an idea how can a forex trader use a clearing house to settle open trades? Any names?
thanx heaps
Any experience with GCG - Global Clearing Group? 0 replies
Fx Clearing Canada 1 reply
anybody heve ever used fx clearing? 0 replies
Clearing old data on a indicator? 0 replies
Clearing Firm/ Broker 2 replies
Dislikedthat's essentially what a dealing desk is. since retail forex isn't technically futures in the most technical and specific of terms (i.e. no standardized contracts, no expiration dates, no real market closes) they don't need to have a clearing house. they are essentially their own clearing house. although, now that i think about it, IF they use a liquidity provider, that can be considered a clearing house. but anyways, for the purposes you are talking about like settling open orders or whatever, their dealing desk would handle that. if the broker...Ignored
DislikedYou never posses anything. If you sell EUR/JPY that means you sell Euro and Buy Yen. You don't have to posses any Euro before doing that.
If I understand you correctly.Ignored
DislikedYes you are right.
Ok i ll put it down very simply what i m lookin for.
Present rates are:
EUR/JPY = 100
USD/JPY = 50
EUR/USD = 2.
I start with 10,000 USD.
I go long EUR/USD . So i have 5000 EUR.
I go short EUR/JPY . So i have 500,000 JPY.
I go long USD/JPY . I again have 10,000 USD that i started with.
I want to put these three trades at the same time. Then click on a hypothetical button "Settle all trades".
But this doesnt happen in a real trading platform. All of my trades are open and i have to close them one by one to...Ignored
DislikedThanx blackSun.
I have come with a way of further simplyfying my question.
Let us forget software based trading for some time. Say i am at Dubai airport. I have 100 US Dollars on me. I go to a forex counter. (Dubai is a very nice example coz they dont charge any commisions over bid-ask spreads, just like our software trading!). Now at forex counter i see a triangular arbitrage oppurtunity even after considering spreads. They change their prices every 15 minutes. This oppurtunity is as follows:
EUR/USD = 2.0 EUR/JPY = 100 USD/JPY = 60. Clearly...Ignored
DislikedHello Mparker
I wanted to make money with arbitrage instead of trading because arbitrage returns depend on one's mathematical and computational skills. Its one thing to just find a 1 pip arbitrage and taking execution risk for just that, but its another to write a computer program that finds an arb and automatically open trades. This way i can exploit an arb several hundred times a day. Compared to your 100 dollar return...Ignored
DislikedHello mparker
I just found out how professional arbitrageurs work! And u will be amazed at the source of this info--- a recruitment agent who hires for financial companies.
BAsically this is what u need:-
(1)You need to be able to exchange directly from banks.
(2) No question of leverage. You use your own funds.
(3) Normally these companies have a handful of guys with PHD is maths who create mathematical models to identify arbitrage in spot forex, stock options and even propertly trust listing.
(4) They also have a guy who puts these...Ignored
DislikedAs i thought, not a job for a retail trader like us, but once you have a few million, whats not to like ?
lemme say this about forex ---- its actually simple, although not easy. It is the MOST trending market in all of the trading markets and almost follows very specific behaviors, which can also be measured by time of day.
It is learnable by those who WISH to learn, but unless youre one of those with a HUGE rabbits foot and the most unbelieveable beginners luck in the world, it aint no "get rich quick" scheme.
it is a whole new culture...Ignored
DislikedLOL ---- when you first begin to study ANYTHING, you have to duplicate anothers methods and experience before you can begin to think of applying what you know, simply because you know so little at the newb stage.
forex is simple, but not easy --- its the most trending trading thingie in the world which makes it "simple" ---- BUT to get to "simple" requires learning a new culture, language and rules, and that only gets you in the front door.
If youre serious, and not a "get rich quick" person, it will take a year to become "competent"...Ignored
DislikedHello mparker
So you are working pretty much 24*7*5. If i m not wrong you are using the H4 time frame for recognizing ur overnight or autopilot trade and a lesser time frame say around M15 for other trades. Also i m assuming that the stop limit on your overnight trade would be a little wide whereas the other trades are directly being watched by you and might have closer stop losses.
For the overnites, I use the H1 or H4 depending on how i feel at the moment AFTER it has reversed to its correct direction for the day, and i use NO sl, so i never worry about that situation --- in fact, i never use stoplosses on ANY trade, BUT do not advise that for those without accounts to handle that and certainly not to newbs and those not familiar with the trend of a trade.
I trade EVERY TIMEFRAME during the day often taking the H4 trade early on so i dont have to pay any attention to it, but always aware that i will be going through drawdowns which do not matter as long as i trade with the trend. (BUT, thats because of my account size, and as stated, only partially passed on to newbs)
I m reading book on tech analysis by Schlossberg. He has mentioned patterns like three black crows, three advancing soldiers etc. What you reckon is the best time frame to look for these patterns?
Also, in case of a ranging pattern where do you get information about support and resistence values?
They appear in all timeframes, but the longer the timeframe, the longer (naturally) it takes for one to show up --- btw, there is candle recognition indicators available for the MT4 platform that are pretty good, although i dont know that they cover the "exotic" candle patterns.
support and resistance comes from another few MT4 chart overlays that show all the information one could ever need and the use of my favorite overlay, the LRC, will show the support and resistance areas in a ranging market as well.
One thing i noticed is that EUR/USD is heading upwards if you look at the monthly time frame, a clear wonderful upward trend. But thing are different in shorther time frames. So what do u think is the ideal time frame to watch for a days' trade?
for the day, one uses the daily and switches to the H4 as overall trend, and the H1 for major s+r values, with the H4 still being king
The EU will surprise many who are calling for its demise I believe, but will take a few days yet.
Now i m not in US but i still guess that following NYSE and Dow might be helpful. Do you ever utilize increased volaitility during teh period of an opening markey, say opening of New York??
of course, and im also aware of when to get out of that volitility, as it usually terminates within half an hour of the open --- checking the futures prices prior to the open will tell you which direction the market will open !
CheersIgnored