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Technical Analysis Fallacy

  • #23,161
  • Feb 27, 2011 3:00pm Feb 27, 2011 3:00pm
Quoting indianguyinny24
Good to know u r fine....


V
I no strength, no will ... I'm tired of the constant struggle (catch me off my old debts).
maybe you'll like it, blessings to you
Inserted Video
  • #23,162
  • Feb 27, 2011 3:43pm Feb 27, 2011 3:43pm
Hello guys. I been this week to UK, for few days at university of Cambridge. I attended economics and law lectures, and students there really dnt have tht much out of life. They get bunch of material and book to read, and most of them study from 50-70hours per week, for masters, I think undegraduate lil bit less, around 4-5hours per day. Econometrics lectures, was really difficult I didnt have any clue about it, and if u fail exam once, u r out. Acomodation sucks, its old school equipment inside, and life there is so expensive. I am quite happy I live in slovenia, but maybe these kids are gonna have great future, while looking for job. But it was funny, when it was about forex, they were teaching what was goin on in 2008, I knew it already from my experiences lol
hope u guys are doing good, if anyone has some good book to read, it would be good. I was reading in library exchange rate determination, by Rosenberg, ex- Deutche bank chief guy at FX department. all the best
  • #23,163
  • Feb 27, 2011 5:33pm Feb 27, 2011 5:33pm
Quoting MaMood
Hi Friends,

just for info.
Maybe someone of our family is trading wih FXCM.

As alsways, you have to build a judgement of your own ...

Great weekend to all!

Niels

http://www.forexfactory.com/showthread.php?t=280376


p.s.:

And here is the lawsuit in more detail:
http://www.forexfactory.com/showpost...&postcount=174
Hi MaMood, I have an fxcm account (and account at fxdd). I have been following this lawsuit for a week now. My experience with fxcm is exactly opposite of the poor guy who brought the lawsuit. I can only imagine that he got in over his head, probably tried to trade in fast markets after new announcements, things like that. What he claims is just not true. Listen to me defending a broker -- LOL!
  • #23,164
  • Feb 28, 2011 1:35am Feb 28, 2011 1:35am
Quoting GEfx
Hi MaMood, I have an fxcm account (and account at fxdd). I have been following this lawsuit for a week now. My experience with fxcm is exactly opposite of the poor guy who brought the lawsuit. I can only imagine that he got in over his head, probably tried to trade in fast markets after new announcements, things like that. What he claims is just not true. Listen to me defending a broker -- LOL!
Good Morning Friends!

@GE: Thanx for info. I'm goping to open an account with them soon. All my reserach has also shown, that they seem not to be "bad buys". MAybe I'm goingto contact you again, before I sign a contract with them ....

BTW: Do you know or already use their "Active Trader" Conditions?
Seems to be very interesting ...

Wish you all a great week!

Niels
  • #23,165
  • Edited 1:59am Feb 28, 2011 1:43am | Edited 1:59am
Hmmm...FXCM are also being accused of issuing false reports of their financial status as far as I know, and they have been in trouble with regulators before over their trading practices. I can't think why you would want to open an account with them...

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On Feb. 10, 2011, The Business Trial Group of Morgan & Morgan, P.A. filed a class action lawsuit against FXCM in the United States District Court for the Southern District of New York (Manhattan Division), alleging fraud and racketeering because of deceptive and unfair trade practices.

On Feb. 16, 2011, Kahn Swick & Foti, LLC (“KSF”) and Former Attorney General of Louisiana, Charles C. Foti, Jr. announce the commencement of an investigation into FXCM to determine whether it has violated federal securities laws by issuing false and misleading statements to its shareholders.

On Feb. 17, 2011, Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of FXCM Inc. concerning possible violations of federal securities laws.

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Whilst they have not been found guilty yet on any of the above points, I would be reticent to get involved with them simply because they might be innocent this time.
  • #23,166
  • Feb 28, 2011 2:47am Feb 28, 2011 2:47am
Quoting ukmanthailan
Hmmm...FXCM are also being accused of issuing false reports of their financial status as far as I know, and they have been in trouble with regulators before over their trading practices. I can't think why you would want to open an account with them...

-------------------------------------------------------------------------------------------------------------------------------------

On Feb. 10, 2011, The Business Trial Group of Morgan & Morgan, P.A. filed a class action lawsuit against FXCM in the United States District Court for the Southern...
I can't speak to the securities related stuff. They recently went public and may have issued some misleading statements in the process. I do, however, know that the people suing them because of their trading operations or their trading platform are trying to take advantage of fxcm's sudden deep pockets. It's a problem in the US...too many lawyers.
  • #23,167
  • Feb 28, 2011 12:47pm Feb 28, 2011 12:47pm
hey guys, regarding post 21953, where fti was caught in a bad position, I am trying to understand his response.

He had foreign cap so he was able to be creative. It seems he reset his base for easy management. I think he hedged his bad short position on the E/U with another equally large long position (re-set base of X144).

He then moved across to the Swissy and made a short of equally large position size (X144).

I am assuming since fti noticed that volatility dropped in the E/U, he hedged his E/U position and proceeded to rescue his position via a non-leveraged flip on the swissy (taking into account teh negative correlation with E/U).
  • #23,168
  • Feb 28, 2011 12:54pm Feb 28, 2011 12:54pm
My study of options really opens up the idea of time and volatility in the market place. Is it possible to make certain positions using spot currency contracts that mimic the advantages of option spreads across different pairs?

Since the spot currencies are mostly floating, and sold on OTC (no specific set price), then the volatility is different all the time for every pair. This opens up a lot of possibilities...?
  • #23,169
  • Feb 28, 2011 1:13pm Feb 28, 2011 1:13pm
Quoting fullperson
My study of options really opens up the idea of time and volatility in the market place. Is it possible to make certain positions using spot currency contracts that mimic the advantages of option spreads across different pairs?

Since the spot currencies are mostly floating, and sold on OTC (no specific set price), then the volatility is different all the time for every pair. This opens up a lot of possibilities...?


Trying to Run even before u can walk??????


V
  • #23,170
  • Feb 28, 2011 5:33pm Feb 28, 2011 5:33pm
I know I am getting ahead of myself, but I am asking out of curiosity. Everyone has their scorpions, mine is being curious and always asking questions. I am still practicing and re-reading as fti suggested.

Quoting indianguyinny24
Trying to Run even before u can walk??????


V
  • #23,171
  • Feb 28, 2011 7:15pm Feb 28, 2011 7:15pm
FP:

I posted this some times back:

http://www.forexfactory.com/showpost...postcount=7268

Of course your mileage may differ.

Quoting fullperson
My study of options really opens up the idea of time and volatility in the market place. Is it possible to make certain positions using spot currency contracts that mimic the advantages of option spreads across different pairs?

Since the spot currencies are mostly floating, and sold on OTC (no specific set price), then the volatility is different all the time for every pair. This opens up a lot of possibilities...?
  • #23,172
  • Feb 28, 2011 11:28pm Feb 28, 2011 11:28pm
Quoting hcong168
You see, it goes beyond buying/writing put and calls. It goes beyond just combining 2 options to form a strategy. It requires proficient understanding of various greeks (rate of change) and strategies, their relationships/mutation routs, how/when to "dismantle/erect" another leg as changes come along, and when to continue/stop squeeze every bit out.

In a way, it is similar in principle to what fti has presented in the short sword - adapt and react to market, but the actual fistfight, one has to lay hand on more than just price movement (beside...
Great insight there, hcong
  • #23,173
  • Mar 1, 2011 12:05am Mar 1, 2011 12:05am
Quoting GEfx
I can't speak to the securities related stuff. They recently went public and may have issued some misleading statements in the process. I do, however, know that the people suing them because of their trading operations or their trading platform are trying to take advantage of fxcm's sudden deep pockets. It's a problem in the US...too many lawyers.
Yeah, I guess it's easy to become paranoid, especially if you are losing (not you, the guy making the complaint!). I doubt I'd move my account if I was already with them but I might think twice about opening a new one right now.

I've also heard a few funny things about my own broker which might have persuaded me not to use them if I wasn't already but I have never experienced any problems so I'm still with them.
  • #23,174
  • Mar 1, 2011 8:50am Mar 1, 2011 8:50am
yes, it's very interesting. I am doing baby steps on options in a classroom (via university) so I need to juggle school and mindset at the same time.

Another reason to stick to currencies- I do not think that I can find a job in options. Apparently Ivy league status is used to filter out applicants.


Quoting hcong168
FP:

I posted this some times back:

http://www.forexfactory.com/showpost...postcount=7268

Of course your mileage may differ.
  • #23,175
  • Mar 1, 2011 11:36am Mar 1, 2011 11:36am
Quoting ukmanthailan
Yeah, I guess it's easy to become paranoid, especially if you are losing (not you, the guy making the complaint!). I doubt I'd move my account if I was already with them but I might think twice about opening a new one right now.

I've also heard a few funny things about my own broker which might have persuaded me not to use them if I wasn't already but I have never experienced any problems so I'm still with them.
Yea, I think of my relationship with my broker as a necessary evil -- LOL. We need them as much as they need us, I think!
  • #23,176
  • Mar 1, 2011 7:12pm Mar 1, 2011 7:12pm
Anybody doing any good the last few days??????
  • #23,177
  • Mar 1, 2011 9:12pm Mar 1, 2011 9:12pm
Quoting auxesis
Anybody doing any good the last few days??????
Playing ping pong with UJ....



V
  • #23,178
  • Mar 1, 2011 9:51pm Mar 1, 2011 9:51pm
Quoting indianguyinny24
Playing ping pong with UJ....



V
What side of the net you playing ???
  • #23,179
  • Mar 1, 2011 9:53pm Mar 1, 2011 9:53pm
Quoting auxesis
What side of the net you playing ???
Long USD from 81.90

V
  • #23,180
  • Mar 1, 2011 9:56pm Mar 1, 2011 9:56pm
Quoting indianguyinny24
Long USD from 81.90

V
stay nimble
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