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<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>Good Morning
Joe:</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>As an FX trader I
will enlighten you with the answers you are looking for. </SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>3-5 pip spread -
This is the difference between what a dealer or broker will buy or sell a
currency. Similar to the bid/ask of a stock. </SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>Pip Value - This
will vary depending on the currency and the amount traded. Smaller firms have
established "lots" which conform to the IMM contract size. (i.e.: one lot equals
125,000 Swiss franc) This is designed to establish a fixed pip value. In the
real forex market, currencies are traded from a based currency of your choosing.
Most are in dollars, not lots. Never pay a commission on a forex transaction,
never.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>As for firms
offering $2,500 minimum. RUN , RUN, RUN. I can assure you, you cannot trade this
market with $2,500 dollars. This is a highly leveraged market and the minimum of
25 lots would be the equivalent of trading approximately $2,500,000 dollars.
This would be the proper amount if the lot size is $100,000. This is not a
market to trade with an under capitalized account nor establishing a
relationship with a quality PRIMARY DEALER. These are entities that are just one
tier under the EBS members market. I would not trade this market with less than
$50,000 USD. </SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>As for calculating
profits, see the following web site: <A
href="http://www.mgforex.com/info/default.asp?loc=calc";>http://www.mgforex.com/info/default.asp?loc=calc</A></SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>There is a different
calculation used with the GBP, AUD, NZD and a few others that are quoted in
dollars per foreign currency unit. The inverse.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>There is one
foreign firms web site which has some good information and a live FX dealer chat
room that may get you any additional questioned answered.They are more than
happy to discuss your questions.</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>Hope this helps. If
you wish to discuss more, please feel free to contact me <A
href="mailto:FXTrader@xxxxxxxxxxx";>FXTrader@xxxxxxxxxxx</A></SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000>Sincerely,</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV>
<DIV><FONT face=Arial size=2><SPAN class=509305111-05062000>Richard
Chehovin</SPAN></FONT></DIV>
<DIV><FONT face=Arial size=2><SPAN
class=509305111-05062000></SPAN></FONT> </DIV></BODY></HTML>
</x-html>From ???@??? Mon Jun 05 07:03:44 2000
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From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
References: <00c901bfce78$06743660$7e2a42cf@xxxxxx> <006901bfcee4$5de1aec0$f555fd3e@xxxx>
Subject: [RT] Re: Bonds
Date: Mon, 5 Jun 2000 07:08:18 -0600
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Status:
Have been watching the intraday chart (5/10 minute) since the open and
it is displaying a most interesting combination of an ascending triangle
(bullish) and a bear flag (25% retracement). I suspect that the bear
flag will win, however the market will tell us in due course. In any
event, there should be a nice trade out: a day trade to long side or a
position trade to downside.
Earl
----- Original Message -----
From: "T-Bondtrader" <t-bondtrader@xxxxxxxxxxxxx>
To: <eadamy@xxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 05, 2000 5:50 AM
Subject: Re: [RT] Market Outlook
> > The big surprise for me this week has been the turnabout in bonds -
they
> > have blown right through AGet's daily w.4 projection and caused AGet
to
> > reclassify this rally from corrective to impulsive suggesting that
more
> > upside lies ahead.
>
>
> Here is an alternative perspective or a different conclusion from
evaluating
> the same picture!
>
> A few moons ago when I was visiting my daughter in the USA, I found
myself
> riding in the desert in Arizona and seeing the enormous water spout,
from
> many miles away. This huge column and the water falling, as the wind
blew
> it in an arc to the ground. Later we went to Fountain Falls and
sought it
> close up. The largest in the world, I was told, while I was thinking
of
> the one in Geneva...
>
> Anyway, on my return to England the bonds made and exact such pattern
and so
> I christened it Fountain Falls. On every occasion since then, after
such a
> pattern we have had lower prices. This is very much in line with the
> normal expectation of an Upthrust.
>
> The pattern is time was formed as the market retraced through the .618
> retracement line from the Contract High, but - and this is the
important
> bit - it then came back and closed on the 'other' side of the line.
> Consequently, I expect lower prices, rather than it "suggesting that
more
> upside lies ahead."
>
> So, it will be interesting to see what it does do. As a day trader I
> couldn't really care less what it does, because I will attempt to
follow the
> market wherever it goes. However, according to my analysis I shall
be
> looking for short trades, but quite willing to accept long ones, if
the tape
> says that is what it is going to do. But in the vein of the last
> continuation Doji Sandwich, I might well punt a put for the hell of
it...
>
> Incidentally, the yellow lines on the chart are the overnight high and
low
> and it is interesting that it could not take out the .618 line. Ah
well,
> we'll see very shortly. Meanwhile, I hope the Fountain Falls helps
someone
> to make some money. A pretty picture isn't it?
>
> Bill Eykyn
> www.t-bondtrader.com
> "Learn to read the tape"
>
>
>
>
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>
>
>
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