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Trader Tracker

The next generation of professional
FX Traders


Definitive definitions: Prop traders, dealers, strategists, etc

Posted on - November 14, 2014 2:43 pm (Australia/Sydney) | 7 Comments
I know most retail traders like to think of themselves as being traders, market makers, economists and technical analysts all rolled into one. This is not the case in the institutional world where each roll is very carefully defined: Spot dealer or market maker: You wear white socks with cheap shoes and an expensive suit. […]

The changing face of the FX marketplace

Posted on - November 14, 2014 9:05 am (Australia/Sydney) | 2 Comments
New official rules will come into place on January 1st which will basically spell the end of all prop trading at the major banks, which in most cases had already stopped anyway. Banks will also be faced with the dilemma of defining where market-making stops and where holding prop risk begins. Bank trading rooms will […]

Switching long cable into short EUR/GBP position

Posted on - November 24, 2014 9:59 am (Australia/Sydney) | 2 Comments
I’m still of the view that cable will bottom out sometime soon but whether that’s at 1.5600 or 1.5450, I really cannot tell. EUR/USD looks terrible and with the ECB flagging more easing measures, the downside pressure is only going to increase. I missed the boat on Friday afternoon and we are now significantly lower, […]

Early morning FX rates, Monday November 24th

Posted on - November 24, 2014 7:28 am (Australia/Sydney) | 0 Comments

Risk-off Friday in Asia again

Posted on - November 21, 2014 1:04 pm (Australia/Sydney) | 0 Comments
Usual Friday rules in Asia with the trend for the week reversing somewhat amid positional reduction ahead of the weekend. USD/JPY support levels will be much firmer towards 117.00. Cable resistance also firm near 1.5730.

EUR/CHF: Best left alone until after the Gold referendum

Posted on - November 21, 2014 7:14 am (Australia/Sydney) | 5 Comments
I’m not a believer in central bank market intervention after seeing it end in tears on too many occasions. The very strong comments from the SNB’s Zurbruegg (copied below from the FXWW chatroom) would normally cause more of a spike than they did which suggests to me that the SNB is in for a long […]

Cable: Short-term levels becoming obvious, 1.5590/1.5730

Posted on - November 20, 2014 7:16 am (Australia/Sydney) | 0 Comments
Prices have bottomed out on 2 occasions now near 1.5590 whilst 1.5720/30 has proven to be solid resistance on the topside. I’m maintaining my bullish bias for now and at least it’s becoming very clear where my stop-loss order should be! I will continue to build my long position inside of this range and hope […]
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