Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Best advice someone could receive!
I don't agree with limiting anyone's ability to make money. If you limit a corporation, how is it any different than limiting a laborer. If you limit a corporation, you are redistributing the wealth to its competitor. Not cool imo.
Leveraged can be simplified as such:
Your $5000 account in FXCM has a purchasing power of $2,000,000. In FXCM, on average, a .10 position pays $1.00 per pip, 1 pays $10.00 per pip. This differs between brokers though. Right now I have 3.00 short silver in my forex.com account. After a little math I realized that i'm short 1500 ounces of silver. lol I'm still trying to figure out how 3 can equal 1500 or about $25,000. hmmm In oanda, if you trade 10, you'll spend the rest of your life trying to make a penny. hehe so FXCM's .10 is 10,000 in Oanda.
Here's a little tid-bit.
While I don't approve of money "out of thin air," its NO DIFFERENT than me using my credit card to fund my forex account, as long as I can make a return that will pay off the credit card, then all is well.
FXCM+$50,000 would be great in real life. FXCM+$500 will likely result in $0.00. Just a tip! 400:1 leverage is your best friend or worst enemy. Hopefully you have the skills to make it your friend.
You just outlined the overall point I was trying to make...but didn't have the words to explain it. Basically, the only way to return to a gold standard is via DEFLATION until we reach economic times of pre 1970's. I'm not up for that, I want to be in the first of the two classes. Economics has its up and downs, in the long run, its up. I know its not infinite, which is why the economy crumbled recently. However, we will return to growth, inflation will roll in and people will be willing to pay $2000/oz for gold somewhere down the road. If you cap the economy, that means individual companies, or simply individuals would have to be capped. So kind of along the lines of Socialism or Communism and NOT capitalism. I'm a fan of capitalism and will spend the remainder of my life pursuing wealth whether I get there or not.
To add to this, it is said that gold is worth $38/oz. My simple response is this. Not its not, its worth $992.24/oz. Why? Because people are willing to buy it for that price...period.
Gold standard is not feasible in modern economics....it would prevent economic growth, specifically global economics. It is completely against economics to set the price of something randomly. Money, gold or anything else in the world is only worth what someone is willing to pay for it. If you attempt to disrupt this, then you disrupt the nature of economics.
All of the worlds gold is worth about $4.8 trillion when gold is valued at $950/oz.
All of the worlds gold: $4,800,000,000,000
U.S. Debt: $11,800,000,000,000
So...the U.S. could acquire ALL of the mined gold in the whole world and still not even come close to being able to back its money supply.
Another way to look at it:
U.S. GDP: $13,800,000,000,000
All of the worlds gold: $4,800,000,000,000
Essay Questions:
How can we achieve gold standard while continuing economic growth? What would be the benefit of the gold standard?
I'm about 300%(unrealized) greener while typing this. I plan to hang on until hopefully 14.00 or better on my silver trade.
I'm feeling very green today.
I don't trade eu very much, but if i did, i'd bet on the short side right now I believe.
I'm short silver and gold. I caught gold just about at the top of the peak. Silver is hanging in there at a loss for the moment, however the gold trade has made up the loss then some. I'm also...oddly...short gbp/jpy at the moment.
Same here...I use nothing more than pivot points and bollinger's(21,2) these days. Works well for me. Ichi is still quite useful, but I rarely use it anymore.
You arguing with yourself?
Interesting options trade:
London, September 21. We have been told that 1.3750 EUR put options have recently traded for a 3-mth expiry date. A US bank has been touted as the buyer of the strikes, which expire on Monday December 21. EUR/USD was last at 1.3750 on June 16. 3-mth ATMF vol was last seen indicated at 11.1/11.4. The 3-mth 25 delta risk reversal is 0.1/0.4 EUR calls over last. Robert.Howard@thomsonreuters.com
My trades are hanging in there. My silver trades are under water, but I entered three gold trades that are up 687, 580, and 312 pips at the moment. I'm going to hang onto my metal trades for a while. At least until the first of the year. Curious to see where the metals go. As inflated as they are, i think they will only go down from here, but of course that's just my opinion.
I now hold the largest silver position i've every had. Pray for me.
What am I doing?
Playing the short side of eur/jpy at 133.24 and short xag/usd averaged around 16.55
I've been trading them for quite a while through oanda...i prefer mt4 so its nice to get the option there.
No, just gold and silver. It would be nice to see futures though.
Stuck on school my friend. I've been trading...lightly, just don't have time to b.s. much anymore. I'm set to graduate around about 03/2010 so I don't have too much longer to go!
I expect equities to fail...in turn, gbp/jpy will fail. make note that I trade longer term, so it may go up a few hundred pips before that happens. I'm just waiting for the time to short. I'm already short silver and contemplating shorting gold real soon.
I'm right with you dpc.
I'm in heaven: GAIN Capital's FOREX.com Adds Spot Gold and Silver Contracts to MetaTrader 4 Platform
Ok, silver is finally into profit after being down about 1200 pips. lol
there goes that idea! lol
Gonna take some risk here. Short silver at 15.37 which is a retest of the neckline of a head and shoulders pattern on the 3 hr. Stop is at 15.60 tp is at 14.00
I am not familiar with VT trader. You may have to move the files from the "downloaded" folder and into a folder under VT trader. I'm not sure what kind of apps you put into VT trader, but if its indicators or something like that, look in something like C:\Program Files\VTtrader\indicators...just a wild guess but you may have to dig around a bit. If you have Vista x64 then the path would be something like C:\Program Files(x86)\VTtrader\indicators....
i've been getting my butt kicked this week. Hopefully things will get better soon. Giving up all my gains from last week.
Certainly was a boring session and not very tradeable. I may have made 5 pips out of about 10 trades today. lol just trying to scalp cause i'm bored.
USD/JPY breaking down and debunking my expectations.
Thanks for the info. I mostly use oanda's news ticker, but like to read commentary from a diverse selection. It is very valuable for trading. Despite this, I trade my own trades and not based on what others have to say.
Awesome, thanks! You too money.
Where is FXCM's news feed anyway?
sounds good. The bollingers on the 1hr are TIGHT. And price action just now broke the 21 again, now I just need to see it blast through the 2% and head on up to 101.65 or so as noted on my blog post on thefxhub.com. hehe
The 21/2 bollinger on usd/jpy 1hr suggest a substantial move real soon. I'm going to have to guess.....up since i'm still holding long positions.
I think a break of 1.38 is in the cards. Daily trend is broke, 21 day SMA is broke, which suggests a test of the 2% 21ma band is possible, which comes in at 1.34 currently, but is still rising and would likely see 1.3450 or so before price action reaches it.
The current bounce looks like a perfect opportunity to short to me.
I've created a page that gathers various RSS feeds related to forex that I use often, into a single place. Just click the tabs...
http://www.thefxhub.com/news.php
The market doesn't really care about how much debt we have. What they do care about though is how much we spend, regardless of how we spend it(cash or credit). Given that, an increase will be positive for the market.