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Feelings about CPI

  • #41
  • Aug 16, 2006 1:06pm Aug 16, 2006 1:06pm
Quoting learningtheropes
BK,
Did this happen at FXSol or FXCM???
He said FXCM.

One of my 6 accounts is at FX Sol, and it happens to get traded the most primarily because of the leverage and the GTS platform.

FX Sol is far from perfect, but I will categorically say that I have never had an issue entering or exiting an order during any massive news announcement. With that said, there are plenty of instances of slippage (anywhere from -5 pips to +30 pips) and I have gotten that dreaded "this price isn't available any more" requote screen during the most volatile NFP release...BUT that's all part and partial of playing the news trading game.

With that said, I have NEVER had an issue getting my order to execute when it was at market (like most of mine are anyway). Limit orders take a bit of time to enter (a few seconds) and during news those few seconds could mean the difference between the current price and 30 more pips.

Make no mistake, FX Sol is in the business of generating volume, and they can't generate volume if they can't get orders to execute properly.

Again, their spreads are average and their feed is average (it's a polling feed rather than a rate feed), but it's really hard to go wrong with these guys, as far as I can tell. For a retail broker, they're decent.
  • #42
  • Aug 16, 2006 5:31pm Aug 16, 2006 5:31pm
Quoting MoneyMa$ter
"FXSol established a 10 pip premium on the buy-sell stops and also slipped me 5 pips at entry on cable.

But, at the risk of repeatedly sounding redundant again (deja vu?), you know my motto: adapt, improvise and dominate. I still made a few large. But what else did you expect from the Money Ma$ter?"
I wholeheartedly agree!!!!

I adapted, set my orders, and made +50 pips ( ya that's green ) in the CPI rush. All this inspite of the same conditions you experienced MM.

You must have your strategy well thought out, your homework done, your plan set in place. For me, when the moment strikes, I am completely prepared for anything. NO HOPING INVOLVED!!!

Just thought that I would add my 2 cents.

DC
"There is MORE Happiness in giving than receiving"
  • #43
  • Aug 16, 2006 9:03pm Aug 16, 2006 9:03pm
Quoting BurgerKing
MM,

Is this "premium" the only problem you have with FXSol? What about speed of transaction? Do you have to wait minutes for your orders to show up?
BurgerKing,

My apologies for the delayed response. It was a beautiful day here in the capitol of the free world so I decided to enjoy it. For me that means a $200 lunch at Capital Grille, followed by a $200 appetizer at 701 Restaurant (ooops...am I spamming??)

Let's set the record straight: I have no problems with FXSol. There was a premium on retail sales, surprisingly, no premium on the PPI and 10 points on CPI. No problem. They do what they do and I do what I do....make money. I find it unacceptable, not a problem, to face a 25 point premium, plus a 21 point slippage. Yet I still made money on that transaction. How? Because of my attitude. I expect to make money. Too many traders enter a trade with their fingers crossed, hoping for the best outcome, relying on "luck" (whatever that is), crying, wishing, wearing their lucky tie.... Duh.

Speed of transaction?? Why would I wait minutes for my "orders to show up?" I've never seen a message from FXSol regarding "awaiting dealer approval" or "awaiting dealer answer" or anything of the sort.

BK, it really is this simple:

I win because I expect to win.

I make money because I expect to make money. That's why we trade...to make money.

I expect success.

I expect peace and increase in my life. Nothing missing...nothing broken. Period. We are designed to attract what we think about most, we attract what we expect. I attract success because I expect success, despite the circumstances. BK if life gives you lemons, make lemonade (geeze, that's as old as dirt!!).

enuf sayd.
  • #44
  • Aug 16, 2006 10:54pm Aug 16, 2006 10:54pm
Money Master $200 for lunch and $200 for appetizer? I hope you are joking. Thats excessive/
  • #45
  • Aug 16, 2006 11:19pm Aug 16, 2006 11:19pm
Yep, 400 bux for a meal, why not go to McD's? 1 bux for a double cheezeburger, u cant go wrong with that.
  • #46
  • Aug 16, 2006 11:26pm Aug 16, 2006 11:26pm
Quoting Yardie
Money Master $200 for lunch and $200 for appetizer? I hope you are joking. Thats excessive/
I dunno...it's excessive if you don't have a lot of money.

For the sake of argument, let's say you make $100,000 a year...$20 for lunch and $20 for an appetizer isn't that big of a deal, is it? Especially if you're with a few people.

Well, if you make $1,000,000 a year then $200 would have the same effect on your wallet, no?

Not saying that MM makes that much, but do the math...in order to make that much money in a year you have to effectively make $4000 a day, 5 days a week, for 50 weeks in the year.

If you have the balls and the roll, then that shouldn't be that big of a deal.
  • #47
  • Aug 17, 2006 12:28am Aug 17, 2006 12:28am
Quoting ZedHashPip
Does the spread widen during important news events and how much?

Thanks in advance!
Normal market conditions the spread is 2 pips for EUR/USD. News volatility it increases to max 4 pips.
a journey of a thousand trades begins with a single pip
  • #48
  • Aug 17, 2006 12:54am Aug 17, 2006 12:54am
Quoting mrmikal
He said FXCM.
thanks for the clarification...assuming ur correct....I was just trying to verify if BK's friend got zapped at FXCM or FXsol..........important to me, as I've left FXCM to Fxsol for news straddling.........no problem yet, but I've only entered into two trades with Fxsol.....
  • #49
  • Aug 17, 2006 6:03am Aug 17, 2006 6:03am
MrMikal,

Even If I was a millionaire I would rather spend the $20 on lunch and give the the other $180 to charity. The rich need to stop indulge in these excesses and help people not as fortunate. $180 can go a long way in feeding a family in Africa breakfast lunch and dinner for a few months.


Quoting mrmikal
I dunno...it's excessive if you don't have a lot of money.

For the sake of argument, let's say you make $100,000 a year...$20 for lunch and $20 for an appetizer isn't that big of a deal, is it? Especially if you're with a few people.

Well, if you make $1,000,000 a year then $200 would have the same effect on your wallet, no?

Not saying that MM makes that much, but do the math...in order to make that much money in a year you have to effectively make $4000 a day, 5 days a week, for 50 weeks in the year.

If you have the balls and the roll, then that shouldn't be that big of a deal.
  • #50
  • Aug 17, 2006 6:45am Aug 17, 2006 6:45am
Quoting Yardie
Even If I was a millionaire I would rather spend the $20 on lunch and give the the other $180 to charity. The rich need to stop indulge in these excesses and help people not as fortunate. $180 can go a long way in feeding a family in Africa breakfast lunch and dinner for a few months.
Yardie, Yardie....

Why do you employ limited "or gate" thinking Yardie? It's not $200 for lunch or give money to the poor. It's $200 for lunch and help the poor. But no matter how much you help the poor, the poor you will always have with you. So how much "help" is enough? And who establishes the standard? You?? Please.

Further, you don't know me. Last time I checked, you don't pay my bills and you certainly don't earn the money I earn. You don't know how much I give to charitable endeavors....nor do you know what I do in real-time for the hungry, homeless and less fortunate. I actually empower people by teaching a man to fish rather than constantly giving him an inexpensive yet deadly fish sandwich/fries from McDonald's.

The reality is giving someone in "Africa" $180 for food is a temporary fix (assuming the government doesn't rip the money off). Why don't you go drill a well in "Africa" (or at least contribute to such an effort since you believe in "or gate" thinking) so the farmers can irrigate their land, grow their own crops and feed themselves without government interference? Been there done that. That's real-time, live not "demo". So who are you to tell me what's excessive and how to spend my money??

And trust me if you ever became a millionaire you would eat better (the world knows by now that McDonald's and fast food restaurants are unhealthy!) and probably move to a better home....that's just common sense. Remember it's an "and gate" so you can enjoy your money and assist the destitute also.

That's like telling the rock star fighting world poverty and meeting with world leaders (can't think of his name) that he shouldn't fly in his private jet because what he spends on jet fuel could feed the starving multitudes in........Alabama or Arkansas or New Dehli or wherever.....

Get a clue....
  • #51
  • Aug 17, 2006 6:53am Aug 17, 2006 6:53am
Moneymaster its good to hear that you contribute to charity as well. My post wasnt meant to attack you personally I was talking in general turns. I still think $200 for lunch is excessive...but thats just my personal view. You can get healthy lunches for much less than $200. Even if I was Bill Gates it is highly unlikely that I would spend $200 on lunch -- unless I have others with me to feed as well. So you mentioning that you make more money than me etc etc is a moot point.

Anyway I agree with your Man to Fish message. I strongly believe in that as well. The $180 if I were to spend it would go towards farming etc so that the head of the household can feed his family..not towards providing free food...which wont make a big difference in the long run.

I am not telling you how to spend your money... I dont know you as you said. It just bugs me when I see or hear that we in the rest make up a small percentage of the world's population but consume the vast majority of the world's resources. Maybe I have been watching too many documentaries lately .
  • #52
  • Aug 17, 2006 7:15am Aug 17, 2006 7:15am
Quoting learningtheropes
thanks for the clarification...assuming ur correct....I was just trying to verify if BK's friend got zapped at FXCM or FXsol..........important to me, as I've left FXCM to Fxsol for news straddling.........no problem yet, but I've only entered into two trades with Fxsol.....
My friend was burned (not totally zapped) by FXCM. His Entry Order was filled many pips away from his entry price. Then the spike reversed (whipsawed); and touched his stop. FXCM has a naughty habit of locking out the trade for several minutes. Last PPI, I was locked out for 3 minutes. Good thing, it did not reverse..

example:
Long Entry Price: 1.8010
Stop: 1.8000
Entered at: 1.8060
total reversal for 60 pip loss.

As we grow successful straddling news, we also grow bolder and place larger lots. I asusme that my friend placed more than half of his money on the line. Likewise, I noticed that a single large lot order at FXCM gets their notice and "delayed" while smaller lot sizes gets pass through the deal desk. Just an observation.
  • #53
  • Aug 17, 2006 8:10am Aug 17, 2006 8:10am
BurgerKing and Maya thanks for your replies! Your help is much appreciated!
  • #54
  • Aug 17, 2006 8:17am Aug 17, 2006 8:17am
Quoting Yardie
My post wasnt meant to attack you personally I was talking in general turns. I still think $200 for lunch is excessive...but thats just my personal view. ... unlikely that I would spend $200 on lunch -- unless I have others with me to feed as well.
Yardie,

Point taken. We avoid generalizations as they can lead to stereotypes (or profiling if you will), so when you referred to "the rich", you included me in your general statement (although I prefer the term "blessed and "comfortable").

Cut back on the documentaries, increase your profitable trades and bless others with your money, while enjoying it for yourself and your family as you will.
  • #55
  • Aug 17, 2006 8:54am Aug 17, 2006 8:54am
Quoting Yardie
MrMikal,

Even If I was a millionaire I would rather spend the $20 on lunch and give the the other $180 to charity. The rich need to stop indulge in these excesses and help people not as fortunate. $180 can go a long way in feeding a family in Africa breakfast lunch and dinner for a few months.
I would just like to point out that there are employees at these types of nice restaurants who do not qualify as rich or probably even middle class. A meal like that brings a nice tip to people, right in your own community, and helps them earn an honest living with self-respect.

If you "boycott" their restaurant, I submit that you will effectively increase the "wait time" at the food stamp line since these people will not have any earned income to participate in our nation's economy. I, for one, am glad there are people with the means to buy these services. Sadly, I am not one of them......... yet.
happy trading
  • #56
  • Aug 17, 2006 4:07pm Aug 17, 2006 4:07pm
Quoting BurgerKing
My friend was burned (not totally zapped) by FXCM. His Entry Order was filled many pips away from his entry price. Then the spike reversed (whipsawed); and touched his stop. FXCM has a naughty habit of locking out the trade for several minutes. Last PPI, I was locked out for 3 minutes. Good thing, it did not reverse..

example:
Long Entry Price: 1.8010
Stop: 1.8000
Entered at: 1.8060
total reversal for 60 pip loss.

As we grow successful straddling news, we also grow bolder and place larger lots. I asusme that my friend placed more than half of his money on the line. Likewise, I noticed that a single large lot order at FXCM gets their notice and "delayed" while smaller lot sizes gets pass through the deal desk. Just an observation.
Thanks for the info BK!! I'm glad I've said adidios to FXCM....every broker will have something someone doesn't like, but FXCM does not seem to fit the news trader mold?! More of a position trader-friendly outfit, maybe?

As far as lot size..........doesn't sound like MM has too much trouble with FXSol...........I know he can afford that kind risk......I'm not quit there yet!!
  • #57
  • Aug 17, 2006 9:30pm Aug 17, 2006 9:30pm
Quoting Yardie
MrMikal,

Even If I was a millionaire I would rather spend the $20 on lunch and give the the other $180 to charity. The rich need to stop indulge in these excesses and help people not as fortunate. $180 can go a long way in feeding a family in Africa breakfast lunch and dinner for a few months.
It's been my contention for a long time that the poor are that way for a reason. I'm sorry, but it is rediculous how easy it is to make money in this world if one puts the effort into doing so. Even the Starvin' Marvin Ethopians or whatever in Africa have every ability to depose their warlord dictators and improve their life if they so choose. Just because they fail to do so should not give you justification to criticize how any motivated/productive individual spends his money. It's the looter/rotter mentality which allows the poor to lay about and continue to subsist off the productive efforts of others humans which does the damage to the poor, not the spending of earned income on frivolities.

Every time "the rich" spend money on pricey lunches or insane mansions, they are increasing the wealth of society as a whole. Never forget that $200 bill gets split up between the restaurant owner, the cooks, the waiters, the hostess, the farmer who grew the livestock/vegitables, the insurance carrier covering the business, the property owner for rents, the security provider managing the alarm system, the cooking equipment repair man, the software developer for the POS system, the truck driver delivering supplies, the hudreds of manufacturing personel that created the equipment and tables and chairs, and silverware, and linens, and glasses, etc. and the biggest payee of all, your government. And that's only the first line of beneficiaries. Every one of these poeple inturn spend their money earned on clothes and food and mortgages and cars and the list goes on and on. Each one of these people also has a family that derives a direct benefit from the wage earners that $200 lunch went to help pay for.

So you can deny all these great people that $180 and give it to some starving fool in the third world if you think it's appropriate, but your not doing anything to make the world a better place. If anything your making it worse. But I'm sure it makes you feel good and that's all that really matters anyway...
  • #58
  • Aug 17, 2006 9:34pm Aug 17, 2006 9:34pm
So people who are starving over the world are dying because they want to die right? That is essentially what your comments boil down too. If it were that easy to make money everyone would be rich and people working two jobs to make ends meet would only need to work one -- or dont work at all.



Quoting Darkstar
It's been my contention for a long time that the poor are that way for a reason. I'm sorry, but it is rediculous how easy it is to make money in this world if one puts the effort into doing so. Even the Starvin' Marvin Ethopians or whatever in Africa have every ability to depose their warlord dictators and improve their life if they so choose. Just because they fail to do so should not give you justification to criticize how any motivated/productive individual spends his money. It's the looter/rotter mentality which allows the poor to lay about and continue to subsist off the productive efforts of others humans which does the damage to the poor, not the spending of earned income on frivolities.

Every time "the rich" spend money on pricey lunches or insane mansions, they are increasing the wealth of society as a whole. Never forget that $200 bill gets split up between the restaurant owner, the cooks, the waiters, the hostess, the farmer who grew the livestock/vegitables, the insurance carrier covering the business, the property owner for rents, the security provider managing the alarm system, the cooking equipment repair man, the software developer for the POS system, the truck driver delivering supplies, the hudreds of manufacturing personel that created the equipment and tables and chairs, and silverware, and linens, and glasses, etc. and the biggest payee of all, your government. And that's only the first line of beneficiaries. Every one of these poeple inturn spend their money earned on clothes and food and mortgages and cars and the list goes on and on. Each one of these people also has a family that derives a direct benefit from the wage earners that $200 lunch went to help pay for.

So you can deny all these great people that $180 and give it to some starving fool in the third world if you think it's appropriate, but your not doing anything to make the world a better place. If anything your making it worse. But I'm sure it makes you feel good and that's all that really matters anyway...
  • #59
  • Aug 17, 2006 10:11pm Aug 17, 2006 10:11pm
Quoting Yardie
So people who are starving over the world are dying because they want to die right? That is essentially what your comments boil down too. If it were that easy to make money everyone would be rich and people working two jobs to make ends meet would only need to work one -- or dont work at all.
They don't NEED TO WANT anything. Your quite willing and able to work your ass off (and recommend that everyone else do so as well) so that they don't have to worry about starving. Stop paying them to do nothing and I guarantee they will find the motivation to live or they will allow themselves to die. I don't see any fences around <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /><st1lace w:st="on">Africa</st1lace> holding the starving fools there. If it was so bad why don't they just move? So yes, if they die in <st1lace w:st="on">Africa</st1lace> it is because they did not want to live badly enough to make it happen and therefore want to die.

Notice that the people you site CAN make ends meat by working two jobs; they don't need your charity to make that happen. You confuse capacity with desire and blame it all on the rich. The single mom working two jobs does so by choice, not be a commandment handed down from on high. She chose to have unprotected sex, she chose to not give the child up for adoption/have an abortion, she chose to work two dead-end jobs instead of pursuing student loans to acquire an education. Nowhere in this process did the rich or God or you or I force her to make the choices she does and yet we are somehow responsible? Anywhere along those decision steps (and at any point in the future) she can decide to make improving her life a priority and it can be done. So yes, it IS easy to make money in this world. One just needs to make doing so a priority.

As a side note, your donation to African farmers is directly detrimental to single mothers due to a charitable contribution’s tax implications. As I noted in my previous post, the biggest beneficiary of a frivolous transaction is the federal government. Every industrialized country has social programs that help single mothers (and other motivated but unfortunate individuals) go to school and pay for food/medical coverage for their child(ren). When you take your tax break you doubly screw them by withdrawing that money from the producers and reducing your tax liability that helps cover those programs. Go tell single mom working two jobs that some aborigine in <st1lace w:st="on">Africa</st1lace> is more important then her...

But none of this is related to the point I was making. You criticized "the rich" for "wasting" money on things when they should be helping the unfortunate. My point was that even frivolous spending does significantly more for humanity as a whole then any charitable contribution to any cause will. I welcome you to articulate why this is not so.
  • #60
  • Aug 18, 2006 3:28am Aug 18, 2006 3:28am
We could use this in the financial stability strategy.

Fellow gentlemen; spend more on tip, it will make poor earners get descant income, which will keep the economy in balanced and liquidity will stay high.
And even better the restaurant owner gets away with paying no salary, and can in return spend the higher restaurant profits on - tip, which will keep the economy in balance and liquidity will stay high.

I hope you got the joke gentlemen… ?
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