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  • #25,221
  • Jan 21, 2013 11:33am Jan 21, 2013 11:33am
Quoting DaddyBear
Are you sure? I see 1.0500 next.

62% retracement on short term hourly chart = 10527 area. Who knows if it'll make it there but its a reasonable target for a day trade with tight stop.
  • #25,222
  • Jan 21, 2013 11:36am Jan 21, 2013 11:36am
Quoting chiknthief
Never traded them before, always been a futures trader. Spot options mean right now (spot). Can I go one year out in the future with forex spot options ? I can with futures options if I so wish.
Or, you can try currency ETF.

FXA CurrencyShares Australian Dollar Trust
http://www.darwinsfinance.com/currency-etf-weak-dollar/

I believe they are good instruments to trade.
daddybearforex. com
  • #25,223
  • Jan 21, 2013 11:38am Jan 21, 2013 11:38am
Quoting chiknthief
62% retracement on short term hourly chart = 10527 area. Who knows if it'll make it there but its a reasonable target for a day trade with tight stop.
I look at H1 ADX and EWP. It's unlikely going to 1.0527 at this point.
daddybearforex. com
  • #25,224
  • Jan 21, 2013 11:41am Jan 21, 2013 11:41am
Quoting DaddyBear
Yes you can. It's called LEAP. Correct me if I am wrong.
I don't know. I never researched forex options. I like futures because my total commissions are $12.50 per side for a maximum cost of $25.00 even if I hold it for a full year or more. No other BS fees and crap like that, it'll never cost me more than $25.00. Period.

Forex screws you with other costs you don't have to worry about with futures positions of any kind, options or straight up long or short the market. A full blown futures market position is only $6.00, much cheaper than forex spread commissions.
  • #25,225
  • Jan 21, 2013 11:41am Jan 21, 2013 11:41am
Quoting DaddyBear
I look at H1 ADX and EWP. It's unlikely going to 1.0527 at this point.
The downside risk is much higher than the up side now. The probability of the bottom drops off cannot be ruled out either.
daddybearforex. com
  • #25,226
  • Jan 21, 2013 11:43am Jan 21, 2013 11:43am
Quoting chiknthief
I don't know. I never researched forex options. I like futures because my total commissions are $12.50 per side for a maximum cost of $25.00 even if I hold it for a full year or more. No other BS fees and crap like that, it'll never cost me more than $25.00. Period.

Forex screws you with other costs you don't have to worry about with futures positions of any kind, options or straight up long or short the market. A full blown futures market position is only $6.00, much cheaper than forex spread commissions.
Yes but the liquidity makes a big difference.
daddybearforex. com
  • #25,227
  • Jan 21, 2013 11:44am Jan 21, 2013 11:44am
Quoting DaddyBear
Or, you can try currency ETF.

FXA CurrencyShares Australian Dollar Trust
http://www.darwinsfinance.com/currency-etf-weak-dollar/

I believe they are good instruments to trade.
I'm sure its all OK DB, but I have a futures account (for long term) and a forex account (for very short term trades) Thats good enough for me.
  • #25,228
  • Jan 21, 2013 11:48am Jan 21, 2013 11:48am
Quoting DaddyBear
Yes but the liquidity makes a big difference.
Currency futures have real good liquidity. Options too. I never have a problem getting limit orders filled.
  • #25,229
  • Jan 21, 2013 11:52am Jan 21, 2013 11:52am
Forex is a day traders paradise................Not so with us intermediate to long term traders.......Gets too costly to hold a position for several months. Screw that !!!
  • #25,230
  • Jan 21, 2013 11:53am Jan 21, 2013 11:53am
Quoting chiknthief
I'm sure its all OK DB, but I have a futures account (for long term) and a forex account (for very short term trades) Thats good enough for me.
It was my opinion only. Not asking you to change anything. I would trade currency ETF in the near future.
daddybearforex. com
  • #25,231
  • Jan 21, 2013 12:02pm Jan 21, 2013 12:02pm
Quoting DaddyBear
It was my opinion only. Not asking you to change anything. I would trade currency ETF in the near future.

If it gives you holding power without costing you much, then it too is good DB. Let er rip. lol

Not arguing at all. If it works for you then its all a good thing.
  • #25,232
  • Jan 21, 2013 1:14pm Jan 21, 2013 1:14pm
For those who like to gamble or bet on the Forex markets,, there is a better place for them. It is called Binary Options.
daddybearforex. com
  • #25,233
  • Jan 21, 2013 1:19pm Jan 21, 2013 1:19pm
Quoting DaddyBear
For those who like to gamble or bet on the Forex markets,, there is a better place for them. It is called Binary Options.
I have reviewed some of those websites of Binary Options. Seems to me such options are more like gambling than trading. The odds is not in favor of the participants [not traders IMO].
daddybearforex. com
  • #25,234
  • Jan 21, 2013 1:23pm Jan 21, 2013 1:23pm
"China's recovery from its longest slowdown in growth since the global financial crisis is being driven by the two forces posing the biggest risks to the economy's increasingly urgent need to rebalance - investment and property." -CNBC-

As such, China's rebound may just like a flower. Cannot last long.
daddybearforex. com
  • #25,235
  • Jan 21, 2013 1:28pm Jan 21, 2013 1:28pm
Quoting chiknthief
Forex is a day traders paradise................Not so with us intermediate to long term traders.......Gets too costly to hold a position for several months. Screw that !!!
Positive Carry (http://www.investopedia.com/terms/p/positivecarry.asp)
  • #25,236
  • Jan 21, 2013 1:31pm Jan 21, 2013 1:31pm
"More and more Chinese say they distrust the Wizard-of-Oz-style of control the Communist Party has exercised since it seized power in 1949, and they are asking their leaders to disseminate enough information so they can judge whether officials, who are widely believed to be corrupt, are doing their jobs properly. Without open information and discussion, they say, citizens cannot tell whether officials are delivering on basic needs." -CNBC-

This has been the fundamental problem of China since 1949. When people get richer, they want more in the freedom of speeches and expressions. Can CCP turns this tsunami back or is it going to be destroyed for good?
daddybearforex. com
  • #25,237
  • Jan 21, 2013 1:34pm Jan 21, 2013 1:34pm
Interest expectation for 25 BPS cut?
Does it hold water.. I think interest rate will be on hold.
AUDCAD is going up seems no cut for AUD and AUD up?
  • #25,238
  • Jan 21, 2013 1:35pm Jan 21, 2013 1:35pm
Quoting DaddyBear
"More and more Chinese say they distrust the Wizard-of-Oz-style of control the Communist Party has exercised since it seized power in 1949, and they are asking their leaders to disseminate enough information so they can judge whether officials, who are widely believed to be corrupt, are doing their jobs properly. Without open information and discussion, they say, citizens cannot tell whether officials are delivering on basic needs." -CNBC-

This has been the fundamental problem of China since 1949. When people get richer, they want more...
Why I share this view? The Aussie's future depends on China's stability. Once the unrest erupts all over the country, The parity won't be the end of the story.
daddybearforex. com
  • #25,239
  • Jan 21, 2013 1:36pm Jan 21, 2013 1:36pm
Quoting coolkaps4u
Interest expectation for 25 BPS cut?
Does it hold water.. I think interest rate will be on hold.
AUDCAD is going up seems no cut for AUD and AUD up?
When is next RBA rate decision?
daddybearforex. com
  • #25,240
  • Jan 21, 2013 1:42pm Jan 21, 2013 1:42pm
Quoting DaddyBear
When is next RBA rate decision?
Feb 4th is RBA decision
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