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Forex Time Zone Clock
http://aboutforex.com/clocks.html
Craigus
20-03-2004, 06:39 PM
Hiya Arco-Craigus here (a long time huh?)
Hey, I was glad to see old names still in this site.
Arco I noticed that you now work the fx markets. Is this fulltime? I guess you still play with shares too. That is exciting, as I want to trade fx (Eur/Usd) and Mini-Dow. Have traded the SPI but found that erratic and 'unprobable'. What Co do you use as a trading platform? Is it a one stop package with live streaming prices, news, and T/A graphs. I was interested to see your 'be careful of fraud' post as I have had a lot of problems with demo downloads not working and the Co not knowing how I got the free download! Strange considering it is from their website.
Actually, I urgently need a mentor (I'm absolutely serious)Can you help or know someone who can?, because I need to tap into someone who's bigger & smarter than me. It is very possible, rewarding and simple but not easy.I was attracted to the Dow as it has good momentum swings but am having my probs.I need to piggyback a few profitable trades (to bring my account back up and give me a buffer) to allow me to trade relaxed. I'm 90% there but need a mentor ASAP to tidy up some loose issues. I'd also like to develop a business system around fx.
So here's hoping... All the best - Regards Craigus
Craigus
I will e-mail you direct when I get a moment.
Forex search engine http://www.forexvision.com
Forex Glossary http://www.ozforex.com.au/Glossary1.htm
Forex ISO codes http://www.oanda.com/site/help/iso_bc.shtml
May be useful.
Here you will find some basic information necessary to day trade the forex (foreign exchange) market.
http://www.geocities.com/daytradingtutor/currency-trading.htm
Forex Data Including Historical
http://hisbase.com/
http://worksmarts.com/download/
If you are thinking of subscribing to a newsletter
or guru, check here first. You never know what or who
you might find.
http://trickortrade.com/phpBB2/
Revhead
23-09-2004, 06:03 PM
Hi arco, thanks for all the links you have been posting here - will take some time to work through....
I had no idea trading foreign currencies was so "do-able". The internet is opening up a whole range of possibilities for traders. Possibilities that would have been impossible only a few years ago.
I have spent a few days using the fxcm trading station, (thanks to a tip from miner), and their demo account. I've been quite successful, but had a rough start while figuring out how it all works.
I've got a fair way to go before throwing some real money at it!! But it sure is interesting.
cheers
Rev
Rev
Before opening a live account with FXCM/Refco it
may pay to do a search on www.elitetrader.com and
other forums.
Arco
Revhead
24-09-2004, 12:08 PM
Arco, who do you use for trading foreign currencies?
cheers
Rev
Revhead
24-09-2004, 04:17 PM
Cheers Arco - will check em out...
Rev
Free Forex/trading e-books.........
http://www.forexlisting.com/go/ebook_make_trend_as_friend.htm
Revhead
04-10-2004, 03:58 PM
Good link arco. Time to create another hotmail acct for downloading the ebooks - never use my real email address when ordering/subscribing to newsletters via the internet.
I've been trialling the GTF trader platform/site. Seems the better of the 3 I've tried.
Got a call from Michigan (USA) at some ungodly hour of the morning a few nights back - wanting to know if I wanted some one-on-one training on the package over the phone. I declined, but was impressed that they were interested enough to ring me at home.
cheers
Rev
yeh I've had countless calls from Chicago during the process of setting me up with software and access to their demo system. A while back I would've thought that was amazing but phone calls are cheap these days so its no big deal really. Remember the people making the calls probably arent paying for them, and yet they will make money if we 'bite'
Which I have. I tt'd them some money and hopefully soon will be trading fo real.
prius
07-10-2004, 01:16 PM
_______________________________________
Arco posted:
Free Forex/trading e-books.........
http://www.forexlisting.com/go/ebook_make_trend_as_friend.htm
___________________________________________
New head in this group..many thanks to Arco and many others in this group. Downloaded the books and got it spiral bound. Very good info for us starters. Will keep you guys posted with my progress.
Cheers
Free Foreign Exchange Position Risk Calculator
http://www.forexflows.com/
Revhead
11-10-2004, 04:44 PM
Arco, might seem a strange question, but is trading via the demo (GTF) the same as on the live system? It seems relatively easy to make a profit here - perhaps I am just a little too suspicious.
Are the response times the same etc. Are the prices displayed and traded the same on the demo and live system.
Rev
Rev
As I understand it, there is no difference
between demo and live.
A
Yes I would agree that for price quotes theres no difference
but i would imagine that there may be a difference re liquidity becoz after all your bid/offer doesnt actually have to be accepted when in demo.
And there is definitely the difference that in demo YOU as a trader have no impact on the market i.e your trades are not part of the overall supply/demand
Pretty minimal differences I would imagine in nearly all cases esp the more liquid markets.
i've had a few hassles (not GFT's fault) with getting my live account going - but am perservering. Hopefully very soon.
miner
12-10-2004, 10:28 AM
Hi Peat more so with shares as in this game a pair like EUR/USD has about 1.4 billion $ turnover each day for eg.
Cheers
Miner
Free Fibonacchi Calculator here.....
http://www.myedollars.com/fibonacci-trading-calculator.htm
Have fun.........
arco
Just discovered this site -
Rabobank have daily, weekly and monthly insites
into currency movements. Only time will tell if
their info is worth monitoring.
http://corporates-public.rabobank.nl/wps/portal/!ut/p/.cmd/cs/.ce/7_0_A/.s/7_0_BF/_s.7_0_A/7_0_BF
Daily Forex Support-Resistance and Pivot Point Projections
http://www.fx-charts.com/forecasts/fxcharts.htm
miner
25-05-2005, 05:28 PM
Thanks for that last one arco will be handy.
Cheers
Miner
This may be of interest to EUR.USD traders,
(although I havent tested them myself).
NINE POINTS PIVOT CALCULATOR
http://www.geocities.com/forexlnks/daily_pivots.htm
ZJW7364
02-06-2005, 12:31 AM
1,000 real time forex research reports.
http://www.naicl.com/index1.htm
FREE BOOK on-line
Many years ago I purchsed the book 'Technical Analysis from A to Z' by Steven B. Achelis. (Still available on Amazon for around $27).
Book Description
Millions of traders participating in today’s financial markets have shot interest and involvement in technical analysis to an all-time high. This updated edition of Technical Analysis from A to Z combines a detailed explanation of what technical analysis is and how it works with overviews, interpretations, calculations, and examples of over 135 technical indicators—and how they perform under actual market conditions.
• Every trading tool from the Absolute Breadth Index to the Zig Zag
• Indicators include Arms Index, Dow Theory, and Elliott Wave Theory
Now, you can get all this infomation FREE here........
http://www.marketscreen.com/help/AtoZ/default.asp?hideHF=&Num=18
Have fun.....
arco
Thanks arco
Very nice resource, bookmarked;)
Amazes me how you find all this stuff on line
Cheers
slam
Edit: arco, you may want to do a gerry and get listed as the last post so others will pick this up;)
I noticed years ago that posts (no names mentioned;))
would be edited with a full stop perhaps to bring them
back to the top of the pile.
A cunning plan me thinks :D
Xerof
09-06-2005, 09:56 AM
.
.:D
Hi,
I'm new to this site - was just trawling around in a free moment at work ...
My background - 13 years in financial markets, trading desks, working for large banks.
Now working for a margin FX company in Auckland. You guys might want to check us out = 1% margins on all currency pairs ...
http://www.wsbcfinancial.com/
The client software is available as a free demo download from that site. Check it out ...
Now from gather by reading the small number of threads/posts, you guys are pure technical traders?
Any room for any fundamentals discussion??
Hi Walt and welcome to ST
Always room for another opinion.
You may want to drop it on the General Chit Chat thread or the related pairs threads
Cheers
slam
from tactical trader
We have 7808 registered users
The newest registered user is peat
:D
Hi Peat
Looking forward to your TT contributions
Regards
arco
This may be useful...... perhaps?
http://www.ratesfx.com/resources/currency.html
Useful overview of FX dealer-to-client platforms...I think
http://www.wallstreetandtech.com/showArticle.jhtml?articleID=163700882
Forex Chart - Currencies Performance Comparisons.
Before choosing which currency pair to trade, it's important to know which one is strong and which is weak, i.e. which currency performs best. The following currencies performance comparison charts shows you currencies performance in 1 year, 3 months and intraday time frame. Just click on the link and you'll get the currencies comparison chart below. For performance comparsion purpose, USD/JPY, USD/CHF, USD/CAD are inverted to JPY/USD, CHF/USD, CAD/USD in the currencies performance comparison chart.
Find more here....................
http://www.actionforex.com/forex_charts/forex_charts/currencies_performance_charts_and_live_forex_chart s/
Xerof
29-06-2005, 04:54 PM
The most surprising revelation from the majors chart is that GBP in the lower quartile - I had in my mind that it had seen more extremes than EUR, but may be a function of the price relationship to USD, i.e. a bigger number, therefore in actual fact a smaller % move overall.
shame it doesnt do the kiwi , i think our currency has pretty high beta.
Peat
You can find NZD under
Dollar Minors 1 Year 3 Months 1 Day
arco
There seems to be alot of sensible advise on
money management, etc, here.............
http://members.aon.at/tips/moneyMan1.htm
quote:Originally posted by arco
Peat
You can find NZD under
Dollar Minors 1 Year 3 Months 1 Day
arco
seems to confirm my suspicion that we are quite volatile esp over the last few months... but Eur US cross beats all (and it has smaller spread )
lakedaemonian
06-07-2005, 12:17 AM
These Adobe PDF links were just emailed to me:
FREE EBOOKLETS
Fundamental Techniques of Trading Commodity Spreads
http://www.learnbeforeyourisk.com/fttcs_secure.pdf
The Basics of Technical Analysis
http://www.learnbeforeyourisk.com/bota_secure.pdf
How To Create Your Own Trading System
http://www.learnbeforeyourisk.com/htc_secure.pdf
Making Sense of Futures Options
http://www.learnbeforeyourisk.com/msfo_secure.pdf
Order Placement Guide
http://www.learnbeforeyourisk.com/opg_secure.pdf
Understanding Commodity Futures Trading
http://www.learnbeforeyourisk.com/ucf_secure.pdf
Someone, somewhre might just find some
interesting info on here.........
http://www.therootofallgoodismoney.com/faq.html
Xerof
07-07-2005, 04:32 PM
Arco, were you googling using "good root money" and happened to get this site :D:D
Xerof
Xerof
Cant remember - too many wines ago :D
Just spotted this on my cyber travels -
FX Correlations - may be of interest to newbies
http://www.refconews.com/main/FXCorrelations0705.pdf
This site gives the ticker symbols for currencies + charts,
and more.........
http://www.freecharts.com/Commodities.aspx?page=mktcom§ion=currencies
If you are looking for up to date news
this site may be the one to check out
http://www.topix.net/
Xerof
20-10-2005, 04:15 PM
Found this site on my travels. A luxury addition to the ars*nal at a mere 2,290 USD[xx(][xx(]
But would certainly take the guesswork out of Elliot Wave - worth a run through the videos they have on the site
What I liked about it was it will only identify EW count's if they are there to be found, i.e no near fits, and they seem to concentrate on entries into waves 3 and 5 - the 'gravy strokes' of FX trading;)[:p][}:)][^]
Xerof
http://www.mtpredictor.com/index.html
Hi Xerof
Yes, I tried a demo about 3 or 4 years ago.
I think it is/was good on commodities.- Didnt try it on Forex.
If they still do a trial period it might be worth a test.
arco
Xerof
20-10-2005, 04:58 PM
Their 'free trial' period is a one month money back guarantee structure, i.e you pay anyway. If you don't want it, you get your money back, less $250 admin charge.....
Might have a go once the fund earns its first 10 mill;);)
and before you ask, no, not up and running yet :(
Hi Xerof
It was totally free of charge when I tried it.
Does the 'still on test' fund have a positive balance at the mo? :D
arco - signing off for a long weekend with the better 'arf
Xerof
20-10-2005, 07:06 PM
Arco,
I haven't been running demo's for the fund, just waiting for the approvals to be issued so I can begin accepting deposits - there's a queue of people with cash in barrows outside my door every morning - I wonder what they want?
Trading in own name still of course, when I could get away from the paperwork.
Anyway, have a good break
Xerof
Fibonacci numbers
There is a large amount of information at this site (more than 200 pages if it was printed).....more study again :)
http://www.mcs.surrey.ac.uk/Personal/R.Knott/Fibonacci/fib.html
enjoy - arco
Hi Arco
Thanks for the link, I use Fib allot (with the old EW)
Been quiet on this site for a while
Thought you may have been cruisin again;)
Cheers
Slam
Drunk_Russian
18-04-2006, 07:23 PM
Here's a site with live price data and charts that I use to keep track of currencies during the day. Click on a Indice and a candle chart will appear that can be resized, and show different timespans.
Works really well:
http://www.dukascopy.com/swiss/english/etrading/marketwatch/marketwatch/
"Reminiscences of a Stock Operator" by Edwin Lefevre
Read it for free here....................
http://www.deltat1.com/Education/books/roaso/
excellent , I will read that thanks arco.
I recently read " The Financier " by Theodore Dreiser , a noted American novelist. Its the first of a trilogy covering the life of Frank Algernon Cowperwood one of the American robber barons of the early 20th century railway era.
Its available online as most classic literature is these days :
http://www.gutenberg.org/catalog/world/readfile?fk_files=223648
tho, I read a hardcopy that I got out from the Akl public library
Alpine Dragon
30-07-2006, 12:50 PM
Other discussion resources that may be worth considering...
www.Forex-TSD.com for MetaQuotes MetaTraders charting and trading package users.
and www.forexfactory.com for general Forex discussion including forex trading. Appears to be a more orderly forum than a lot of others out there and appears to be slowly becoming the prominent Forum in FX trading related matters (IMHO).
In my personal opinion, MoneyTec I feel has gone down hill (discussion quality wise) in the last year or so and I also feel I have reason to believe that MoneyTec themselves has started acting in an irregular manner, including posting spam (by stealth) messages on other people's forums to drive people to their StrategyBuilderFX referral service (and subsequently getting banned) http://www.forex-tsd.com/metatrader-4/10-mt4-brokers-metatrader-brokers-36.html#post39134
Considering MoneyTec has in the past been caught spamming their MoneyTec Account Management service in a similar manner
http://p066.ezboard.com/fduediligenceboardfrm13.showMessage?topicID=382.to pic&index=16
Just my opinion.
Currency Trader Mags
Back Issues Oct 2004-Nov 2006
http://freeforexebooks.com/CurrencyTraderMagazines.htm
regards - arco
Investopedia is quite a good site for reference etc......
And this page is particularly worth reading I think
http://www.investopedia.com/articles/forex/06/ConsolidationPatterns.asp
Forex Blogging
www.yourforexblog.com and www.forex-journals.com
.........are two websites that offer free Forex Blog hosting. Yourforexblog.com also offers private diary type blogs.
Chart Patterns Technical Analysis Info.......
http://www.trending123.com/patterns/
Anyone for NEW SNOW?? Go see;)
http://www.newsnow.co.uk/newsfeed/?name=Currencies
arco
quote:Originally posted by arco
Anyone for NEW SNOW??
well it is getting colder I spose, (but I still went for a nice ride on the motorbike today).
oops i better put a useful site
may pay to keep an eye on the TWI if you're trading the kiwi.
http://www.rbnz.govt.nz/statistics/exandint/b1/data.html
The future is here now...................
33 (and a few more) Ways to Watch Free TV Online
http://mashable.com/2007/06/18/33-ways-to-watch-free-tv-online/
ok will check some of those out but you have heard of bit torrenting yeh?
At the moment I'm watching High Definition versions of Boston Legal and Robin Hood. and various BBC nature documentaries all torrented. Yeh its kind of like stealing them I guess but its only TV. Movies too if you want to be even more of a pirate.
The internet - all of the piracy but none of the scurvy!
Thanks for the info Peat - thats a new one on me.
arco
Wiki will give you all you the technical background on P2P bit torrenting.
http://en.wikipedia.org/wiki/Bit_torrent
but thats much more than you need to know
Just get a client programme installed such as Azareus or , and I recommend this one ́Torrent. http://www.utorrent.com/
Then find a torrent file of a programme or movie that you want ,(this is just a small file containing the metadata about the data itself and where the tracker is etc) and load that into the client - File/Open New Torrent etc and start it up
Just google eg "Robin Hood torrent" or go to some site like http://torrentspy.com/ and search.
Theres a variety of stuff available but of course it not always what you want. Tends to be the very popular and very recent things
Old stuff tends to stop being 'seeded' meaning theres no one still uploading as it were.
The main issue with P2P torrenting is that you end up moving a LOT of data. To get a movie or say a 4 part series it can be a couple of gig (depending on the quality ) but because torrenting relies on everyone giving as well as getting you may end up moving 3-4 gigs of data to get what you want. So its not much chop if you have a small data cap on your internet plan.
I managed to get one of those unlimited plans with Xtra so I'm tending to use it more and more :D One day I expect they will have me up about it. Until then...... TV the way I want it.
Definitely worth investigating torrenting if you want to choose your entertainment quite specifically. Lots of people I know use it to watch TV episodes ahead of whats playing on NZ tv
Oh and a tip - check the file content of each torrent on the website where you get the torrent file from, if its zipped then avoid - just go for stuff that is an obvious file type such as avi or mpg etc. Zipped ones often request a password and without that you've just wasted all that bandwidth.
Any further questions just ask. I could also provide a torrent file for anyone to start with, no problem.
I sometimes watch the news off tvnzondemand.co.nz too
Check out your brokers funds here................
http://www.cftc.gov/files/tm/fcm/tmfcmdata0704.pdf
arco
Live FX charts are now available from TradersLab .......
http://www.traderslaboratory.com/index.php?page=charts
rgds - arco
Brokers funds updated
http://www.cftc.gov/files/tm/fcm/tmfcmdata0707.pdf
This is also a handy thread to subscribe to (at no cost)
http://www.trade2win.com/boards/showthread.php?t=25680
rgds - arco
STRAT
20-09-2007, 08:39 PM
Excellent thread fellas. Much appreciated
It looks like the NFA is finally stepping in to put broker's on notice that stop hunting, as least gross pricing disparities, aren't going to be tolerated.
http://nondealingdesk.com/showthread.php?p=4020#post4020
whiteheron
21-09-2007, 11:36 AM
arco
I can not seem to establish if the article you refer to relates to the USA or Australia or worldwide
Do you know ?
The sooner we can get rid of market manipulators, stop hunters etc the better imo
They are a considerable thorn in my side --- lets get rid of them
A nasty nasty practice but it goes on all of the time
Hello WH
I presume it would cover all brokers who are regulated by the NFA
The NFA website is http://www.nfa.futures.org/
Here you should be able to get more information, including a list of member brokers.
Hope that helps
rgds - arco
It looks like the NFA is finally stepping in to put broker's on notice that stop hunting, as least gross pricing disparities, aren't going to be tolerated.
http://nondealingdesk.com/showthread.php?p=4020#post4020
Stop hunting
I observed a particularly blatant stop hunting episode last night. Not the frequently suspected hunter-killer zip zap faster-than-the-eye-can-follow all gone routine in the midst of lots of action BUT, Trading AUD/NZD and AUD/USD, NZD/USD the market was very quiet for maybe 10minutes so I decided to go to bed but thought that a correction was likely so instead of tidying everything up and closing down as I would usually do I set up 4 stops. As I indicated the market was very quiet. The stops are never very close to the action with these pairs other than AUD/USD and one was some distance away. No sooner had I placed the stops then I observed the cursors on the graphs move slowly and deliberately to each one of my stops in turn and trip them all and return to where they had been sitting.
Just like a croupier gathering all the chips after the hand has been played.
Is it someone at my forex provider who does this? I assume that they are the the only participants who can see my hand in the market in this detail.
:mad:
Bilo
Which broker are you using?
If possible please also add a chart, and I will compare other brokers price feeds.
rgds - arco
Bilo
Which broker are you using?
If possible please also add a chart, and I will compare other brokers price feeds.
rgds - arco
CMC Markets
No chart to show Arco but will have history of trading activity just no ability to read them..I think only CMC can do that...
Bilo
Which broker are you using?
If possible please also add a chart, and I will compare other brokers price feeds.
rgds - arco
Sorry Arco
A little thought and yes off course I have the charts and the times, so therefore the charts at the time and price when my stops were triggered.
If I was selling a long position should I be looking at the bid chart?
and the offer chart if I was buying buying back a short position?
I did both.
Bilo
The ask price applies when buying a currency pair and the bid price applies when selling. (The bid price is always lower than the ask price).
If you want me to compare Oandas rates at the same time let me know the exact NZ time (to the minute if possible). I can give you their min/max rates at the time.
rgds - arco
Bilo
The ask price applies when buying a currency pair and the bid price applies when selling. (The bid price is always lower than the ask price).
If you want me to compare Oandas rates at the same time let me know the exact NZ time (to the minute if possible). I can give you their min/max rates at the time.
rgds - arco
Thanks Arco that helps me to understand. They may not have been the greatest stops but as I say the market appeared to be dead - until it awoke to deal to my stops.
September 26th early morning
NZD/USD Short position_ stopped to buy at 0.7343 - 12:42.58 (am) NZ local time
NZD/USD Short position_ stopped to buy at 0.7343 12:42.59 (am) NZ local time
AUD/NZD Long position_ stopped to sell at 1.1752 - 12:44.35 (am) NZ local time
NZD/USD Short position_ stopped to buy at 0.7347 - 12:44:48 (am) NZ time
All very methodically like - took less than 2 minutes to find them....as I said like a croupier raking in the chips..
its difficult to say exactly but I dont think those are outrageous quotes.
Bilo
I checked Oandas charts and as Peat has already confirmed, the fills you received are well within the Oanda min/max, so I dont think CMC has done any stop hunting in this case.
IMO stops on forex now have to be further away to cover volatility.
rgds - arco
Thanks Arco and Peat
I know the stops were close. It was just the deliberate nature of action - obviously from someone whose software shows them exactly what is on the table, which is a bit moe than I can see. I guess I gained the impression that it would not have mattered how far away they were they would be taken out if it suited. It doesn't seem to matter where I put stops uless the action is going rapidly in the opposite direction they seem to be taken out. And as you say with the increased volatility if you leave a stop a mile away (at least on the NZD) you come back to find it triggered and profit severely eroded. The only practical use seems to be to protect a real cash position...which by definition only has one leg and the CFD market can't touch it.
http://www.futuresmag.com/marketing/Elliott_Wave/futuresmag1.html
A simple but useful description of making a trade based on EW.
New (s) from Oanda - ATNABTU (All their news are belong to you)
.......Double Dutch?
but looks very good...............
http://www.atnabtu.com/
Perhaps the ultimate currency converter
http://coinmill.com/
a while back you mentioned internet tv Arco
well a mate sent me this link recently and it works well as a video downloader and player offereing thousands of channels.... most of which (like normal tv) are crap tho.
http://getmiro.com
I've tested it out for the last couple of days and it does the trick... its all about finding the content you like tho.
I'm currently torrenting the early Star Trek series and watched Atonement last night from a cam torrent i.e someone filmed it with a camera at the movies - sound was bad and people kept walking in front of the camera !! lol guess you get what you pay for.
MWSnap A brilliant screen capture tool
I have installed this programme on the work computer for documentation and I'm thinkin it will be brilliant for forex as well.
When you want to do a screen capture (after you start the programme obviously) use Ctrl-Shift-A and then mouse click zoomy action over the area you specifically want to capture on your screen.
Then either paste directly somewhere else eg an email or doc, or save as from within MWSnap, and then upload to imageshack or similar etc.
very configurable , small download, small memory footprint, basically its mwsnappy!
oh and its free. and spyware free too.
http://www.snapfiles.com/get/mwsnap.html
lol at their typo in the description
"for taking scren captures..." (sic)
Agree Peat.
I used MWSnap for sometime many moons ago but for some reason the program became corrupted and I failed to get it snapping again.
Anyway, I'm presently using Printkey 2000 which also seems to be pretty good. (Freeware),
Cluster**** Nation by Jim Kunstler (http://jameshowardkunstler.typepad.com/cluster****_nation/)
Always a good daily read...............
January 21, 2008 Knees knocked last week from sea to shining sea as the shape-shifting monster of economic reality cut a swathe of destruction through the markets and financial ranks. The exact nature of this giant beast still remained largely concealed in a fog of accounting gambits, policy blusters, and reporting dodges, but a few intrepid scouts who glimpsed the behemoth up close said it looked like Godzilla with Herbert Hoover's face.
George W. Bush, tried to appease the beast by offering each American adult the dollar equivalent of half a month's mortgage payment -- with the exhortation to drive forthwith to the nearest WalMart and blow it on salad shooters and plasma TV's -- but Hooverzilla just laughed at the offering and pounded the equity markets further into the dust of loss, while the "bank-like" guardians of wealth lay in the drainage ditches bleeding from their ears and eyes.
My favorite moment was seeing Treasury Secretary Paulson and one of his fellow shaved-head deputies at a press conference rostrum frantically trying to calm the news media rabble like a couple of extraplanetary high priests from a Star Trek episode -- the batteries having run down in their laser wands, and their incantations ("liquidity! liquidity!) veering into mystifying glossolalia.
I resort to such admitted extreme hyperbole because it may be the only language that an infotainment-drunk society can still process in the face of an epochal calamity that will transform the lush terms of everyday life as we've known it into something like a bleak surrealist landscape in the manner of Tanguy. That crashing sound out there is the armature of confidence needed to support an economy based on faith that borrowed money will be paid back. It's as simple as that. (Doesn't seem so exciting now, does it?)
The United States is so broke, its people at every level from the Federal Reserve on down don't know whether to **** or go blind. The homeowners cringing in the media rooms of their 5000-square-foot personal family resorts don't know how long they can stay put microwaving pepperoni hot pockets with the default clock ticking. The mortgage "servicers" don't know how they will persuade interested parties like, say, the Illinois State Cafeteria Workers' Pension Fund (holder of X-amount of mortgage-backed securities underwritten by, say, Merrill Lynch or Deutsche Bank) to foreclose on properties scattered everywhere from Key West to Bainbridge Island -- or if there is actually any legal mechanism known to man that would make it possible to "work out" the sliced-and-diced collateral. The millions of maxed-out credit card holders and the issuers of their plastic are stuck together paddling a leaky tub in a sea of troubles every bit as wide, deep, and polluted as the one the mortgage junkies and their enablers are sinking in. The developers of malls, office parks, and power centers are weeping into their filing cabinets as the harsh daylight of insolvency stops the orgy of "consumption" and the retail tenants pack up their unsellable goodies for the liquidators, and the rent checks stop arriving in the mail, and the notes on this mall and that mall enter the eerie realm of "non-performance." And, of course, there are the genius wonder boyz and Wall Street playerz whose algorithms and turpitudes underwrote the script of this horror show -- for all I know they'll end up laughing into sugary skull drinks on a beach in the Cayman Islands, or doing Chinese fire drills in federal prison (or simply ass-****ed on the granite countertops of their Tribecca aeries by mobs of angry, repossessed, swindled former American dreamers pouring into Manhattan from the tract house dormitories of New Jersey and Long Island).
There's a lot to be concerned about out there. I don't mean to be too cute about it. But, as the master once said, nothing is funnier than unhappiness.
A whole closet full of "other shoes" is now waiting to be dropped. Surely the biggest clodhoppers in the closet belong to the hedge funds, representing trillions and trillions of dollar-denominated "positions" which, however hallucinatory, had previously yielded enough real "money" year-by-year to keep all the realtors and Humvee dealers in the Hamptons goose-stepping to Goldman Sachs's drumbeat. These "positions" can't help now from moving into counterparty crisis territory, especially as the bond insurers such as MBIA and Ambac go up in a vapor, and if that happens the damage could be so colossal globally that Stephen Hawking might have to be brought in to run the Federal Reserve.
This is going to be a rough week. Fastening your seat belts may not be enough for this ride. Better superglue yourselves to the floorboards and pray for God's mercy.
http://jameshowardkunstler.typepad.com/cluster****_nation/
if you are using arco's link you'll need to retype the ****'s into that rude work beginning with an F if you want it to work.
Thanks Peat......rushed off and didnt check the link.
You can also access the blog from...............
http://www.kunstler.com/
Xerof
24-01-2008, 01:53 PM
"When Marcia Neilson couldn't qualify for a home loan in early 2006 because of poor credit, her mortgage broker, Nicole Lyder, had an unusual solution: Add Neilson's daughter to the loan application. "Neilson's 21-year-old daughter had just lost her job, but Lyder remained undeterred. 'That wasn't a problem,' Neilson recalled her broker saying. "Neilson's real estate agent said Lyder enlisted him to drive Neilson and her daughter to Brockton City Hall. The pair filled out a business certificate that claimed they owned a hair salon in Brockton.
"The Neilsons qualified for a mortgage and bought a Dorchester house in June 2006 for $565,000. Last fall, Marcia Neilson learned from state investigators looking into Lyder's business practices that her loan application was padded in other ways: a statement for a $25,000 bank account in Neilson's name that she had no knowledge of.
"Fake documents, a phantom borrower, and other irregularities were common features of five subprime mortgages brokered by Lyder between November 2005 and June 2006 that were examined by the Boston Globe. Lyder's clients ranged from the barely employed to struggling working-class couples; one had just left a homeless shelter and two others gave up government-subsidized housing to buy homes. They said Lyder arranged loans that they later realized had monthly payments that far exceeded their means.
All five loans are now in foreclosure."
roddy
24-01-2008, 08:43 PM
Hi Xerof
there is a book Titled Dont sign anything,How to protect yourself from tricks and traps in Real estate.
it could have been a worthwhile read for some a few years ago!
Seems quite common and widespread in the US, i ask myself how could so many people get duped by the likes of Lyder,but suppose thats why they targeted the homeless, Mexicans and the poor who were unsuspecting and believed the promises of the good life
"There are a ton of trading dictionaries out there. Unfortunately, most of them give you a 10 word definition of a term, leaving you without any detail or context to fully understand the concept.
PFX has gone out there and done some leg work for you. We've thoughtfully determined which terms/concepts are most relevant to you as a forex trader, and compiled them for you in one place. This Reference is also always available to you in the navigation at the top of the sight under "Learn Forex" at the sub-menu item "Terms to Know.""
http://www.pfxglobal.com/index.php?option=com_content&task=view&id=2051&Itemid=253
Steve
01-02-2008, 04:42 PM
Thanks for the link, Arco...
I found this link useful even though its referring to software I am not interested in it gives good descriptions of arcs and fans.
http://www.oilspace.com/eng/dscharts/html/ch05s04s02.html#s318
New net cap numbers are out The new CFTC Numbers Are Out. Here they are:
Financial Data for FCMs (http://www.cftc.gov/marketreports/financialdataforfcms/index.htm)
Above $20 Million
Oanda $159,786,916
RJ O'Brien $101,983,527
FXCM $81,150,191
GFT Forex $68,407,128
Gain Capital $66,579,458
I Trade FX $35,037,710
Interbank FX $25,733,263
Below $20 Million
PFG $17,986,053
FX Solutions $16,140,253
CMS $13,726,169
ODL $12,639,482
GFS Forex $10.4
IFX $12,343,198
CMC $8,773,706
Alpari $9,001,039
Ikon $8,271,674
Easy Forex $7,799,807
Hotspot $7,675,145
MB Trading $8,015,568
Friedberg Mercantile $7,985,613
Forex Club $7,639,479
Money Garden $6,367,331
Bacera $5,554,498
Advanced Markets $5,239,792
http://www.trade2win.com/boards/forex-discussion/25680-nfa-dead-forex-firms-walking-15.html#post416691
http://www.2008.worldmarkethours.com/Forex/index.htm
Also another one you can download from Oanda
http://fxlabs.oanda.com/cgi/fxlabs.pl?id=13
Forex Data Including Historical
http://hisbase.com/
http://worksmarts.com/download/
Hi, does anyone know where to get some old data? Those sites aren't working anymore. I'm primarily interested in the 1hr, 4hr, and dailies.
AMR
Not sure exactly what you need, but try this for starters
Historic data
http://www.fx-forex-trading.com/database.htm
arco
.
I just found this site for up to 10 years data - many currencies
http://www.ozforex.com.au/
http://www.chartflow.com/chartGen/lineChartGen.asp?ccy1=NZD&ccy2=USD&days=3652&typ=S&sys=oz
theres an www.nzforex.co.nz as well with the same graphs which I had a quick look at a few days ago.
Fwiw............................
Forex Size/Position Calculator
http://www.forexcalc.com/
This is an interesting indicator listing all the current commodity prices...
http://www.marketwatch.com/tools/marketsummary/futures/contracts.asp
........and heres the current dismal offering........a sea of red
http://www.thechartist.com.au/images/stories/deflation.png
.
http://www.currencytradermag.com
Invision Power Board (http://forextask.com/index.php?act=idx) for Beginers (http://forextask.com/index.php?showforum=9)
Some very interesting material here.
http://forextask.com/index.php?showforum=9
http://news.easy-forex.com/forex-videos/daily-outlook/
I find the netdania pretty useful for charting the USD index but it actually does a huge array of instruments incl currencies shares and commmodities if you select 'more instruments' (under the instruments menu item) and have a look.
It even does the Ichi.
http://www.netdania.com/ChartApplet.asp
.
The Forex Trading Hours Map (http://www.gftforex.com/forex/forex-trading-hours.asp)
.
I'm using tinypic (Free) image host for uploading charts now.
Very simple and quick
http://tinypic.com/
http://www.google.com/finance/domestic_trends (http://www.google.com/finance/domestic_trends)
plug in some words and see what returns
it plotted the Eur/USD for me too and would compare with others (but no indicators)
Interesting article
http://www.thegeekknows.com/2009/09/risk-aversion-in-forex-market.html
If anyone uses Ninja Trader charting this may be of interest
http://www.indicatorwarehouse.com/
I'm trying to figure out how I can use this, and it could be helpful
View: performance table (http://finviz.com/forex_performance.ashx?v=11&o=-perfdaypct) | relative performance chart (http://finviz.com/forex_performance.ashx?v=21&o=-perfdaypct) http://finviz.com/gfx/nic2x2.gif Change: percent change (http://finviz.com/forex_performance.ashx?v=11&o=-perfdaypct) | PIPS change (http://finviz.com/forex_performance.ashx?v=12&o=-perfdaypct)
http://finviz.com/forex_performance.ashx?v=11&o=-perfdaypct
An online method to do money transfers across borders.
not necessarily cheaper than a t/t but at least no queues at the branch
www.xoom.com (http://www.xoom.com)
Haven't tried this myself yet, but looks interesting
Locate files and folders by name instantly.
http://www.voidtools.com/
this video about candles is only available for a day or so....
http://www.candlecharts.com/temp/FX_feb25_2010/
RazorX
28-02-2010, 04:25 PM
Hey Peat
Thanks for that! I just watched it and it's a great refresher seminar.
Razor
delinky
01-03-2010, 10:00 AM
I've just watched it twice and have learned heaps from that educational video. A great link for us newbies.
this site gives a good news calendar
http://www.tradewithprecision.com/economic-calendar
you can even adjust it into your own time zone which is really useful eg just shorted Kiwi on the NZIER Quarterley figures and made some quick pips.
nice peat, id have to say that trade was a bit of a no brainier.. shortly after the local announcements are proving to be a good point to buy into as of late! Next week is going to be very interesting!
Anyone know if that video about candlesticks mentioned earlier is on any other website?
For actual transfers of money
http://www.clearfx.com/
http://www.currencyonline.com
on a 300k transfer these will save you around 4 thousand dollars or more compared to the trading bank rates being offered.
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