Futures Magazine April 01, 2008
Cover Story
The U.S. dollar & gravity’s pull
The U.S. dollar has declined deeply and except for a minor correction in 2005, consistently, since 2001. Its strength as measured by the U.S. dollar index, a basket of six major currencies developed
Software Review
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eToro Forex Trading Platform
Forex traders seeking a user-friendly trading experience or an educational tool to understand or introduce forex trading concepts will appreciate eToro’s simplicity and video game-like interface.
Trading Techniques
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Safe profits with bull and bear stairs
Most of us learned to climb stairs not long after we learned how to walk. Before long, and with practice, it became second nature. Observing and properly reacting to the charting formations known as
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Using Leverage Space Model to define risk
The notion of optimal f is not merely a method of determining an optimal point in a risk profile. Done right, it can provide the foundation of a superior portfolio model than what’s being used today.
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From chaos to trends in forex
Determined Chaos is a non-linear method of analysis that has achieved a greater following in recent years. However, not only does this sophisticated and complex area of study require significant
Technology & Trading
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Riding out the storm
Trading systems once were reserved for institutional traders with access to powerful mainframe computers and Fortran programmers. Things weren’t all rosy even for these well-heeled institutions,
Forex Trader
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Aussie and loonie near parity
Forex traders always are looking for opportunities and in the current economic environment of uncertainty and extreme negative U.S. dollar sentiment, two currencies are compelling: the Canadian and
Futures 101
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Futures vs. forex
With the U.S. dollar in the doldrums, more and more traders are getting fired up about forex and currency futures. However, there are numerous questions to answer before venturing into either of
Industry Trends
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The Weakening of the U.S. dollar
In the early 1790s, after passage of the Constitution, the newly organized government of the United States of America turned its attention to monetary issues. Alexander Hamilton, secretary of the
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Consolidation: It’s happening everywhere
In a year that has seen the emergence of CME Group (formerly the Chicago Mercantile Exchange and its cross-town rival, the Chicago Board of Trade) as the global behemoth it always seemed destined to
Markets
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Tech talk: USD/JPY going down
A perfect five-wave decline appears to be unfolding from the 1971 high in the USD/JPY. Wave 3 of the decline was extended and divides perfectly into five waves itself. Wave 2 was a sharp zigzag
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Scary time for the Fed
Desperation may be too strong a term, but certainly there’s growing alarm at the Federal Reserve these days, as a sense of gloom and fear seeps through financial markets like some poisonous gas. The
Editor's Note
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The deepest market
A funny thing happened after launching the euro...foreign exchange trading opened up for retail traders and the long-term trends the currency markets were so well known for truncated. Volatility
Book Reviews
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Anatomy of the Bear: Lessons From Wall Street’s Four Great Bottoms
“Anatomy of the Bear” profiles the four most significant market bottoms of the twentieth century. They include: 1921, 1932, 1949 and 1982. Author Russell Napier gives comprehensive insight into the
Market Analysis
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Lock limit down
Since late January, coffee had been on a rampage, shooting from $1.35 per pound past $1.70 in late February, and then falling out of bed and closing near $1.50 in early March. “It’s not just coffee,”
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Bubbling crude
In early March, typically a build period for crude oil inventories, May crude oil futures were trading above $106 per barrel. “The market is concerned about the supply and the decision by OPEC to
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Frankly speaking
As the U.S. dollar spirals lower, U.S. dollar parity with the Swiss franc seems inevitable. “It’s a safe haven currency,” says Jason Yu, currency strategist for ODL Securities, adding that market
Managed Money
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MFA passes torch
The Managed Funds Association passed the torch of leadership at its Network 2008 conference in Key Biscayne, Fla. in February. Former Congressman Richard Baker (R-La.) officially took the reins as
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Dow turning point
The Cycle Project Oscillator (CPO) is a proprietary model that identifies multiple cycle influences in a market and has proven itself on numerous occasions. The methodology is based on the theory
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Take the money and run
Foreign exchange is the most liquid market sector and is therefore the anchor of many diversified trend following programs. In recent years, higher volatility in currency markets has made trading
New For Traders
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New for traders
Liffe now lists universal stock futures on an additional 112 underlyings and individual equity options on an additional 41 underlyings. Also, Liffe launched options on Nyrstar, which will be included
People
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Felker named NFA chairman
Michael Evans and Michael Sherwood were named vice chairmen of Goldman Sachs. Evans and Sherwood will retain their positions as chairman of Goldman Sachs Asia and co-chief executive of Goldman Sachs
News
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Chartview: Wild week in wheat
The last week of February was wild for wheat futures, as demand, particularly for the high protein variety, put the market into hyper drive. Markets in Chicago, Minneapolis and Kansas City pushed the
Trader Profiles
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Ram: Keeping their eyes on the ball
Robert Moss has been involved in trading futures for four decades and although he learned his craft from some of the most talented and successful traders in the industry, he is not afraid to learn
Breaking News
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Refco execs to jail
In the latest court move by former Refco officers, Robert Trosten, Refco’s former chief financial officer, is the third Refco executive to plead guilty to charges of fraud and conspiracy. He is
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ETFs come full circle
That logic has come full circle as the Securities and Exchange Commission (SEC) has approved the first actively managed ETFs. On Feb. 27, PowerShares Capital Management announced it had received
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Grede has BONY to pick
Sentinel Capital Management’s bankruptcy trustee Frederick J. Grede and the Bank of New York Mellon Corp. (BONY) have filed dueling lawsuits in Illinois bankruptcy court. BONY was custodian of
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Nymex dealing
Timing is everything, and as Futures heads to press, one date stands out: March 15, which is the last day of the annual International Futures Industry Conference in Boca Raton, Fla., and also the
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CFTC's losing forex?
A 2004 forex fraud case against Erskine and Goros LLC, which the CFTC has lost as well as an appeal, threatens to limit its authority to prosecute fraud in the forex industry and its authority to
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Trader clips MF Global for $141.5 million
With wheat futures already experiencing unprecedented volatility, a rogue trader rocked the market on Feb. 27. MF Global acknowledged that a U.S. registered representative of the firm, trading
