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FX

CME to launch Forex E-micro Futures…bucket shops slaughter?

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fx-211bannerCME announced the launching of Forex E-micro Futures before the end of Q1 2009.  What’s the catch of this?  Well, the basic message for retail traders is : Trading your mini lot on regulated futures market, e.g trading Euro futures with $1.25 per tick.

Six Currency Pairs. Quoted in Interbank Terms. The Largest Regulated Forex Market.
If you would like to trade in a regulated, secure Forex market, get to know our new Forex E-micro futures, traded at CME. One-tenth the size of our standard Forex futures. One-tenth the risk exposure. All of the access to our highly liquid markets.

CME will be launching Forex E-micro futures before the end of Q1 2009 on the following currency pairs:
EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, USD/CHF

Full details here

Instead of fighting with the retail forex brokers, known bucket shops, maybe trading the regulated futures market is a better choice. Your choice. I guess this is a good move to make retail currencies trading environment a little better.

Weekly wrap up

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Nothing really new. I am trapped and exhausted. I am talking about my day job. What can you do when you are working in an environment where there is an obvious skill incompetency in the team?  I don’t know. I am not complaining too much since I am an independent professional. I do whatever I am supposed to do , and leave. The job just makes me tired and sick.

Trading front, I am not too active this week.  Made 3 short term GBPUSD trades during London sessions, 2 winners, 1 loser. Nothing much to talk about. I am starting this type of short term trading, experimentally, as I foresee in the near future, I might have the luxury to spend more time in front of the screen.  ATS is still work in progress. I am running the system, analyzing the signals, but , not making live trade.  It is really easy to create a system or a program to generate trading signals. But, it requires a lot of energy and time to manage the trade when the signal comes. Given my current condition, I will screw up good signals.

I am studying some patterns in oil futures now. Probably I will post 1 or 2 findings here later, well, if I find it appropriate.

All right, it is time for me to make my Espresso, and enjoy the Sunday morning. It is 9:20am at Melbourne now.

Have a good weekend, and good trading week ahead.

Weekly Wrap up

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It was a chaotic week. Mentally. I was not troubled by trading, but my day job.  I am not sure what is my next move, and there are just too many uncertainties around. These also crippled my ability to trade last week. I found myself losing the ability to think clearly. I closed all my positions with tiny profit. No position was established. In fact, I did not even look at chart. That also explains why I have not been posting last few days.

I hope things will become clearer soon. Though I have adjusted myself, and trying to convince myself to accept certain unpleasant facts. Anyway, I am back to trading desk now with a clearer mind. I will start my trading again.

Pivot play example

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Here is an example of how you can use pivot and Fibonacci to trade currency. Pretty straight foward. We sell short at resistance levels.  As a rule of thumb, don’t look for a specific price level, instead, we are playing with the price zone, or some say price range. No magic level in the market, but resistance zone. blah blah blah….you got the point, didn’t you?  Probably, I shall make a video later to show you some trade example…

Here is the chart….oh, in case you wanna know, this is AUDUSD…

audusd_pivot_play