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hi gary nasty accidants is that anystop losses had extremely bad fills same
as guy trying to enter trades had zero chance...... there is a small
differance when i trade for my investors we have 0.5 mio usd on fx positions
leveraging up to 2 mio usd if things are working well... the differance is i
work at big money centre bank in europe and than i have minumum 10 mio usd
positions thats why i point out the perils of event trading
when you are looking for my long term vwiews i follow primarily the daily
signal on www.paratechnics.pair.com my model
but i also use my own analysis i think that the usd will stay strong i
squared up my euro and chf position on kosovo 2 weeks ago i think we need
to see a peace settlemant euro usd wil go to max 1.1060
usd chf 1.4300/1.4450 at these lvls i will sell euro calls strikes 1.1300
and buy 1.0860 euro puts
as i think euro usd will make a new low afterwards to 1.03 we just need to
clear out the weak euro shorts
i think euro is anemic ,crap growth
the position i am still firmly wedded to is long usd yen am long usd call
spreads 123 agst 128 exp september.... japan is in a massive recession they
need to target money aggregates and do what summer/rubin suggested i think
that we will soon take off in usd yen......... my only reservation is if
summers changes the strong usd policy to appease capitol hill over the trade
defecit
i like usd yen it has a great carry
my advice is to use opts i have enough credit on my fund acct to do this if
you dont buy the front strike eg 123 and sell 128 by same amnts
forex at the momant is tough especially trading euro i would stand aside
here as in war sitiuation there is ahigh propensity for 90 points moves in
euro usd or 180 point ,moves in usd chf on silly rumours you can spend alot
of money getting whipped wait for the peace and then enter after the 2 days
euphoria
i hope this helps gary
-----Original Message-----
From: gary bodnar <gbodnar@xxxxxxxxxxxxxxxx>
To: Judith Gledhill / Mark Oliver <gledhill@xxxxx>
Date: Thursday, May 13, 1999 3:22 PM
Subject: Re: Stops
>Hi Mark, Judith
>What accidents??
>Can you express an opinion on Euro, chf, jpy, for the next few weeks??
Thank you
>
>Regards
>Gary Bodnar
>
>Judith Gledhill / Mark Oliver wrote:
>
>> a warning to all out there usd yen moved from 121.30 bid to 119.50
offered
>> on rubin in 20 seconds
>> it then went 120.30 bid there were some very nasty accidants in forex
today
>> interbank market
>> regards mark oliver
>> -----Original Message-----
>> From: Earl Adamy <eadamy@xxxxxxxxxx>
>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>> Date: Wednesday, May 12, 1999 6:31 PM
>> Subject: Re: Stops
>>
>> >This morning looked like a likely morning to put on currency trades so
the
>> >Rubin announcement was interesting, to say the least. I'd been watching
the
>> >June JY to see which way it would break out of congestion and this
morning
>> >it was breaking to downside through the prior pivot low at 8278. The JY
>> fell
>> >to the 8250's and I was watching the retracement for a short sale. I had
a
>> >order to sell the Yen ready to fire at 8275 OB and a stop already parked
at
>> >8335 ready to fire on receipt of fill. I literally had my finger on the
>> ><transmit> button when the Yen took off like a rocket running back
through
>> >all resistance and trend lines to 8350 (through my proposed stop).
Although
>> >I use stops religiously, it was nothing more than pure, unadulterated
luck
>> >that I was not exposed with a naked short on a rocketing JY and no stop.
If
>> >something bad can happen, it will. Fortunately it was not my turn.
>> >
>> >At the time I was preparing to sell the JY, I had already gotten fills
on
>> >other orders and I was unaware that LeoWeb was down entirely ("due to
>> >problems at the CME") for the second or third time in the past week. I
wish
>> >the damn regulators at the CFTC would spend half the time regulating the
>> >exchange order systems that the spend regulating news letter writers -
>> would
>> >help a hell of a lot more traders!
>> >
>> >Earl
>> >
>> >----- Original Message -----
>> >From: Don Roos <roos@xxxxxxxxxxxxxxx>
>> >To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>> >Sent: Wednesday, May 12, 1999 8:38 AM
>> >Subject: MKT: Stops
>> >
>> >
>> >> I hope you all slept through that one (the Rubin resignation news).
30h
>> >> down in 4m. A good reason to always have a stop in place. If things
>> >> are going to go wrong, they will at the worst possible time: "due to
>> >> system problems at the cme" the cubs system went down just before the
>> >> Rubin selloff. Not nice to have to call in an order while the mkt is
>> >> going down like a rock. The low in the es was the same as the spoos,
so
>> >> no stop busting. They will have a hay day picking the cherries (stops
>> >> in place) for awhile after today.
>> >>
>> >> Don
>> >>
>> >
>> >
>
>
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