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  • #19,821
  • Mar 24, 2010 10:23pm Mar 24, 2010 10:23pm
I would definatley be interested in those study materials if you wouldnt mind posting them or sending them to my email.

thanks
Annoying Precision
  • #19,822
  • Mar 24, 2010 10:25pm Mar 24, 2010 10:25pm
Quoting Saxon
you're not nagging If you are trading someone else's funds, you will be required to be a CTA or CPO if you use a FCM (Futures Commission Merchant) in the US. If you use a UK or Swiss based FCM, they will usually relax the rules for you. It is worth getting if you want to be a Boutique HF. It costs about 700 or so a year once you make it as a CTA/CPO, which is just a $200 application to the NFA once you get the exams done. Once you are a CTA/CPO, the NFA has a lot of slicitation regulations but you will be able to have 400K+ pools. If you are...
Also, you do not need to take the exams or register as a CPO or CTA if you want to trade accounts < 400K or have 15 or less clients. You will just need to register as EXEMPT with the NFA's electronic registration system
  • #19,823
  • Mar 24, 2010 10:26pm Mar 24, 2010 10:26pm
Quoting erikte279
I would definatley be interested in those study materials if you wouldnt mind posting them or sending them to my email.

thanks
I'll try to find them and get them to you within the hour. I gotta take the dog for a walk real fast. BRB
  • #19,824
  • Mar 24, 2010 10:31pm Mar 24, 2010 10:31pm
Something just came up....gotta run too. Talk with you tommorow, THANK YOU!!!!

Quoting Saxon
you're not nagging If you are trading someone else's funds, you will be required to be a CTA or CPO if you use a FCM (Futures Commission Merchant) in the US. If you use a UK or Swiss based FCM, they will usually relax the rules for you. It is worth getting if you want to be a Boutique HF. It costs about 700 or so a year once you make it as a CTA/CPO, which is just a $200 application to the NFA once you get the exams done. Once you are a CTA/CPO, the NFA has a lot of slicitation regulations but you will be able to have 400K+ pools. If you are...
Annoying Precision
  • #19,825
  • Mar 24, 2010 10:38pm Mar 24, 2010 10:38pm
Quoting Saxon
Also, you do not need to take the exams or register as a CPO or CTA if you want to trade accounts < 400K or have 15 or less clients. You will just need to register as EXEMPT with the NFA's electronic registration system
Seems they changed the amount, I had been previously told it was <250K.
Good to know.

Here are the references:

CPO and CTA Exemptions and Exclusions

Electronic code of Federal Regulations

Exemption system

Note @ erikte: I am adding those infos to your original thread as well, so not to keep diverting the conversations from the main AUDUSD subject, should you need more precisions.
  • #19,826
  • Mar 24, 2010 10:44pm Mar 24, 2010 10:44pm
Quoting Saxon
you're not nagging If you are trading someone else's funds, you will be required to be a CTA or CPO if you use a FCM (Futures Commission Merchant) in the US. If you use a UK or Swiss based FCM, they will usually relax the rules for you. It is worth getting if you want to be a Boutique HF. It costs about 700 or so a year once you make it as a CTA/CPO, which is just a $200 application to the NFA once you get the exams done. Once you are a CTA/CPO, the NFA has a lot of slicitation regulations but you will be able to have 400K+ pools. If you are...
Been reading your posts on the subject...thanks for the good information!

In addition, do you need to take these, or any other, specific exams to trade for a bank? For example, UOB bank in Singapore.
  • #19,827
  • Mar 24, 2010 10:49pm Mar 24, 2010 10:49pm
Quoting doblece
Seems they changed the amount, I had been previously told it was <250K.
Good to know.

Here are the references:

CPO and CTA Exemptions and Exclusions

Electronic code of Federal Regulations

Exemption system...
Hi Doblece,
Here is the Ref Guide. Check out 4.13(a)(2) column. That shows the 15 clients and 400K thing. It must have been a recent change I guess
Attached File(s)
File Type: pdf quick ref.pdf   18 KB | 352 downloads
  • #19,828
  • Mar 24, 2010 10:52pm Mar 24, 2010 10:52pm
Quoting latropsudoxe
Been reading your posts on the subject...thanks for the good information!

In addition, do you need to take these, or any other, specific exams to trade for a bank? For example, UOB bank in Singapore.
Not sure, maybe check with the local commission. NFA is a US body and CFTC as well. If you are at say Goldman Sach or another bank trading you would still need to take the exams but would register under your bank's FCM status,

Sorry doblece, i'll get back to AUD now. My bad
  • #19,829
  • Mar 24, 2010 11:06pm Mar 24, 2010 11:06pm
Quoting Saxon
Hi Doblece,
Here is the Ref Guide. Check out 4.13(a)(2) column. That shows the 15 clients and 400K thing. It must have been a recent change I guess
Indeed much thanks, I finally found the references in one of the links I quoted. I had been searching this as the original info I had was "unofficial" though told to me by my br0ker...

No problem, I guess that anyway all this info should be of interest to anyone of us who intends to be a professional in this field.
Back to Aussie!
  • #19,830
  • Mar 24, 2010 11:12pm Mar 24, 2010 11:12pm
here is my take on aussie, guys.
The h&s in play and it succefully retraced to the neckline and 38.2(one of the most important levels, which in case it holds - shows some signs of selling pressure) It also broke out of the TL which made sence since the beginning of february. I expect further decline in price and the first medium/minor support is between S1(.9040) and Daily 50ema(.9030), but frankly may slide through. I am also short NZD and wonder what holds it from falling... any ideas?
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  • #19,831
  • Mar 24, 2010 11:15pm Mar 24, 2010 11:15pm
Also, the DP holds nicely. But if it breaks, it will be capped at .9150
  • #19,832
  • Mar 24, 2010 11:36pm Mar 24, 2010 11:36pm
Here is my take. AUD broke my 50 MA and after that it always has a heavy bounce when it gets to 100 MA. The issue right now is the low volumes which makes me more unsure than I would be. Also, we would be moving to 91000 which also doesn't help that it is smack in the middle of two strong S/R lines. If there were no 00 in the mix, I would be more bearish. I will post some more analysis, just running through the charts.
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  • #19,833
  • Edited 1:01pm Mar 25, 2010 12:11am | Edited 1:01pm
hi, i use a 12 hour chart for my trends with a 20ma macd with settings 26-150-9, a break out slow indicator which is the blue line on the chart and have the hawkeye arrows added also.

I use the hawkeye arrows to get my 3 points on the chart to get a price target on the next move, since there is a lot of buy and sell signals with the hawkeye i only take notice of the arrows when the macd the 20ma and the break out slow indicators are all suggesting the same thing.

On the chart at the moment i have a short signal with a price target of 8550-8600.

I use the same settings above on a 30 minute chart for my trades and also helps if the price closes in the direction of the trade on a 10 minute chart with the 200ma. eg short signal on 30 minute chart and 10 minute 200ma has a candle closed under the 200ma line to confirm trade.

the close under 9170 yesterday with the 30 minute macd crossing down gave me a short entry trade.
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  • #19,834
  • Mar 25, 2010 12:22am Mar 25, 2010 12:22am
Quoting Saxon
Here is my take. AUD broke my 50 MA and after that it always has a heavy bounce when it gets to 100 MA. The issue right now is the low volumes which makes me more unsure than I would be. Also, we would be moving to 91000 which also doesn't help that it is smack in the middle of two strong S/R lines. If there were no 00 in the mix, I would be more bearish. I will post some more analysis, just running through the charts.
Woohoo I was right
  • #19,835
  • Mar 25, 2010 12:34am Mar 25, 2010 12:34am
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Was drawing the neat rectangle when price started piercing it down.
However, it could just be a stop hunt.

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I think price should "at least" reach 38.2% retracement at 9135.
9155 possible, but action very heavy so unless something changes, direction is mostly bearish.

Though yesterday's "magic number" 9175 could still have some magnetism (61.8% retracement of whole swing).
  • #19,836
  • Mar 25, 2010 12:54am Mar 25, 2010 12:54am
Quoting doblece
Attachment

Was drawing the neat rectangle when price started piercing it down.
However, it could just be a stop hunt.

Attachment

I think price should "at least" reach 38.2% retracement at 9135.
9155 possible, but action very heavy so unless something changes, direction is mostly bearish.

Though yesterday's "magic number" 9175 could still have some magnetism (61.8% retracement of whole swing).
Thanks for sharing your view. However, it completed it's 38.2 retracement on my charts and as for stop hunting, I don't see any major concentration here that would trigger any action as SL hunting IMHO
  • #19,837
  • Mar 25, 2010 1:04am Mar 25, 2010 1:04am
Quoting pipsbull
Thanks for sharing your view. However, it completed it's 38.2 retracement on my charts and as for stop hunting, I don't see any major concentration here that would trigger any action as SL hunting IMHO
I dunno, we did fly past 9100 and now are right back at it, so there might be a little stop hunting. Howevr, on my charts, fib 23.6 is right where it tunred around, so there is some ambiguity as to the reason for the reversal
  • #19,838
  • Mar 25, 2010 1:11am Mar 25, 2010 1:11am
Quoting Saxon
I dunno, we did fly past 9100 and now are right back at it, so there might be a little stop hunting. Howevr, on my charts, fib 23.6 is right where it tunred around, so there is some ambiguity as to the reason for the reversal
stop hunting doesn't occur often and at various places. Most likely to expect one is at the place where a lot of traders put their "point of reversal" They can be easily found just above a nice TL. So, I was just stating that IMHO it may bE something else, but I don't see any sufficient reason for such an action to take place at this levels
  • #19,839
  • Mar 25, 2010 1:12am Mar 25, 2010 1:12am
Quoting pipsbull
stop hunting doesn't occur often and at various places. Most likely to expect one is at the place where a lot of traders put one. They can be easily found just above a nice TL. So, I was just stating that IMHO it may bE something else, but I don't see any sufficient reason for such an action to take place at this levels
9100 is a "00". I' not sayin you're wrong, just gving my opinion
  • #19,840
  • Mar 25, 2010 1:15am Mar 25, 2010 1:15am
Quoting Saxon
I dunno, we did fly past 9100 and now are right back at it, so there might be a little stop hunting. Howevr, on my charts, fib 23.6 is right where it tunred around, so there is some ambiguity as to the reason for the reversal
Most probably the fact that it started just half an hour before Sydney close. Maybe just plain profit taking.
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