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Search took 0.08 seconds. Search: Posts Made By: rhodytrader
Forum: Newbie Island Yesterday, 01:07 PM
Replies: 1
Views: 23
Posted By rhodytrader
The basic rule of thumb is to not trade pairs...

The basic rule of thumb is to not trade pairs sharing a common currency (e.g. USD/JPY and EUR/USD) because anything that impacts that common one will impact both/all your positions - unless you scale...
Forum: Rate my Broker 11-19-2009, 02:57 PM
Replies: 10
Views: 894
Posted By rhodytrader
To repeat: If you're in an euro-denominated...

To repeat:

If you're in an euro-denominated accout trading EUR then 1 pip = 0.0001 euro times the size of your position.

Thus for 1 pip to equal 0.01 euro: 0.01/0.0001 = 100.
Forum: Newbie Island 11-19-2009, 09:28 AM
Replies: 23
Views: 332
Posted By rhodytrader
Actually, that's not entirely true. Many times...

Actually, that's not entirely true. Many times it's the absense of orders that moves the market.
Forum: Newbie Island 11-19-2009, 09:24 AM
Replies: 23
Views: 332
Posted By rhodytrader
Primarily they are banks. Clint posted a list of...

Primarily they are banks. Clint posted a list of the biggest players in forex. I believe Deutsche Bank was #1 with about 20% of daily volume.

As for finding volume, it's rather like Matt said....
Forum: Rate my Broker 11-19-2009, 09:22 AM
Replies: 10
Views: 894
Posted By rhodytrader
Actually, if you're in an euro-denominated accout...

Actually, if you're in an euro-denominated accout trading EUR then 1 pip = 0.0001 euro times the size of your position. The question then becomes what's that 0.0001 EUR worth. It depends on what...
Forum: Newbie Island 11-18-2009, 09:26 AM
Replies: 23
Views: 332
Posted By rhodytrader
Just like your kumquat seller, forex market...

Just like your kumquat seller, forex market makers adjust prices constantly attempting to find volume. They are in the business to make the spread as often as they can, so it behooves them to set...
Forum: Newbie Island 11-18-2009, 09:00 AM
Replies: 2
Views: 63
Posted By rhodytrader
Dale, A tick in ES futures is definitely...

Dale,

A tick in ES futures is definitely 0.25. If the quotes you're looking at use 0.01 my first reaction is that you may be seeing the "spot" index rather than the futures price. If you're seeing...
Forum: Newbie Island 11-18-2009, 08:51 AM
Replies: 5
Views: 104
Posted By rhodytrader
Pip values are fixed only when the quote currency...

Pip values are fixed only when the quote currency (second one in the pair) is the same as your account base currency. Otherwise they are variable.



Actually, your broker will margin call well...
Forum: Show me the money! [Swing Trading] 11-18-2009, 08:43 AM
Replies: 8
Views: 298
Posted By rhodytrader
A drawdown is the distance from an equity high...

A drawdown is the distance from an equity high point to the equity low point which follows it. So if your account balance increased to 1500 due to your gains, then fell back to 1200 from some losses,...
Forum: Fundamental-ville 11-18-2009, 08:40 AM
Replies: 3
Views: 76
Posted By rhodytrader
The EUR will never be "ever rising". At a certain...

The EUR will never be "ever rising". At a certain point prices for the EZ exports will become too high and it will decrease demand for euros. All things being equal, and equilibrium can be expected...
Forum: Fundamental-ville 11-17-2009, 08:54 AM
Replies: 3
Views: 76
Posted By rhodytrader
Are you suggesting that the rising EUR/USD rate...

Are you suggesting that the rising EUR/USD rate might somehow blow up the Eurozone? If so, don't hold your breath. The euro was introduced in large part to facilitate easier (and less costly) trade...
Forum: Newbie Island 11-17-2009, 08:50 AM
Replies: 2
Views: 76
Posted By rhodytrader
As you have already noted, brokers have different...

As you have already noted, brokers have different margin rules. The school lesson is based on one set of rules only. Always go with what your broker says since they are the ones actually doing the...
Forum: Newbie Island 11-16-2009, 03:32 PM
Replies: 6
Views: 311
Posted By rhodytrader
Some banks do have prop desks which speculate. In...

Some banks do have prop desks which speculate. In most cases, though, the majority of volume they do is transacting customer business like swaps, forwards, etc.
Forum: Newbie Island 11-16-2009, 08:40 AM
Replies: 6
Views: 311
Posted By rhodytrader
"All" is probably a bit strong, but you can be...

"All" is probably a bit strong, but you can be pretty sure that financial institutions which provide banking services to large companies will have some kind of forex functionality, and yes, that is...
Forum: Newbie Island 11-13-2009, 03:42 PM
Replies: 2
Views: 173
Posted By rhodytrader
Regardless of whether you are long or short, the...

Regardless of whether you are long or short, the position size is in the base currency. That's the first one. In your example it's 10,000 Euros. It will be 10,000 EUR no matter if you're long or...
Forum: Newbie Island 11-13-2009, 08:50 AM
Replies: 11
Views: 325
Posted By rhodytrader
It's a rally in stocks into/around Christmas. But...

It's a rally in stocks into/around Christmas. But there's also the January effect when stocks that did poorly the prior year (and were sold for tax purposes) rally. In fact, there are many "effects"...
Forum: Newbie Island 11-12-2009, 12:21 PM
Replies: 11
Views: 325
Posted By rhodytrader
Probably not because the tendency is for there...

Probably not because the tendency is for there either to be little price movement or a whole lot - zero volatility or high volatility.
Forum: Newbie Island 11-12-2009, 12:20 PM
Replies: 2
Views: 80
Posted By rhodytrader
The rollover will happen at the prevailing market...

The rollover will happen at the prevailing market price.

As for your loss, you already have it. Market-to-market in forex is continuous. The roll-over isn't going to change anything where that's...
Forum: Newbie Island 11-12-2009, 08:59 AM
Replies: 11
Views: 325
Posted By rhodytrader
If you're going to be distracted by holiday...

If you're going to be distracted by holiday parties and shopping then it's a good idea to use the time to take a break from the trading action.
Forum: Newbie Island 11-12-2009, 08:58 AM
Replies: 14
Views: 382
Posted By rhodytrader
Yes, that is correct. The STP broker will show...

Yes, that is correct. The STP broker will show the best bid and offer from their collection of liquidity providers.
Forum: Newbie Island 11-12-2009, 08:56 AM
Replies: 14
Views: 316
Posted By rhodytrader
Effectively, yes. Whatever you gain or lose on...

Effectively, yes. Whatever you gain or lose on the cross will then be converted into your account currency at the going rate.
Forum: Newbie Island 11-11-2009, 12:18 PM
Replies: 14
Views: 382
Posted By rhodytrader
There's something wrong with either what you're...

There's something wrong with either what you're broker is saying or how you're reading it. If the bid and ask are exactly the same then there is no spread. I find it hard to believe that they aren't...
Forum: Newbie Island 11-11-2009, 12:12 PM
Replies: 1
Views: 91
Posted By rhodytrader
You place your buy limit below the market and...

You place your buy limit below the market and your buy stop above it.
Forum: Newbie Island 11-11-2009, 08:54 AM
Replies: 14
Views: 382
Posted By rhodytrader
Just a quick correction. There's no such thing as...

Just a quick correction. There's no such thing as "no spread" trading with any broker. Even if you're using and ECN/STP broker, there's still a spread involved. You still buy at the bid and sell at...
Forum: Newbie Island 11-11-2009, 08:50 AM
Replies: 14
Views: 316
Posted By rhodytrader
You need to stop thinking that there's one...

You need to stop thinking that there's one "correct" price for the pair. There are always two - the bid and the ask/offer. You will always sell at the bid and buy at the offer. If you are long,...
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