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Replies to #11222 on FOREX TRADERS

twk000jester

06/14/07 3:52 PM

#11223 RE: Worn_Buffet #11222

short turtle (usd/jpy) @ 122.972 will cover after next Greenspan market wisper

Ataglance2

06/14/07 3:53 PM

#11224 RE: Worn_Buffet #11222

afternoon buffet.,
looks like your going to fight yourself.....
eur/usd {python) and gbp/usd are correlated in price movement.. usd/jpy (turtle) is negitive correlation to the python and gbp/usd..
that means if your long python,short the turtle,if your short gbp/usd ,you should be long the turtle.. ect......
hope this helps
:)
http://www.theforexclub.us/beastTraders.htm

CPTMatt

06/14/07 3:56 PM

#11226 RE: Worn_Buffet #11222

Spreads (commissions) will kill ya if you are doing more than a couple transactions a day.

If you think about it. If you're trading 10,000 blocks and trade in and out of 5 positions per day at 2 pip spread that is $20/day. $20/day * 200 days is $4,000. That will eat into your P&L real quick. Of course if you're only getting 3 pips average spread it gets worse, plus you are probably trading larger blocks.

So "scalping" for 5 pips (if that's what you are doing) ends up being bad business. Scalping for 10 pips isn't that much better either.