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The Forex Thread (FX)     

hilary - 31 Dec 2003 13:00

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Forex rebates on every trade - win or lose!

Seymour Clearly - 02 Mar 2009 17:34 - 10305 of 11056

That's a bit of a pain Hil, I'm not running the Loonie yet. Closed one short out manually on cable which would have turned into a bigger loss, but otherwise left everything on auto. Over the past 6 weeks the demo account is up by about 40% running cable only, live account not running for long enough to give meaningful results.

Falcothou - 03 Mar 2009 12:19 - 10306 of 11056

Anyone have any views on Chunnel?

Falcothou - 03 Mar 2009 19:18 - 10307 of 11056

I'm short Chunnel as I want to sell an old motorbike in Europe to take advantage of the strong Euro the short is a hedge in case the currency falls over the next few weeks

Seymour Clearly - 03 Mar 2009 19:30 - 10308 of 11056

My own gut feeling is that it's overbought and I'm sure we're due a retracement, certainly hope so before July as I'm off to S of France and it's starting to look like an expensive holiday.

Falcothou - 03 Mar 2009 19:42 - 10309 of 11056

I heard today that a beer in Paris costs about 12!

hilary - 03 Mar 2009 20:38 - 10310 of 11056

There's a slopey ChocoChannelTM with its lid at around 0.8950 or 0.8975. I would've thought it'll hit that then it'll go down with the Tottenham.

Btw. Have you seen the price of a Tartiflette in Meribel lately?

edit. Or even 0.9050 or 0.9075. I should've gone to Specsavers.

:o)

Falcothou - 03 Mar 2009 21:28 - 10311 of 11056

I'll add to my short there, thanks hils

Seymour Clearly - 03 Mar 2009 21:41 - 10312 of 11056

No, you're wrong there Hils. About the Specsavers bit.

You knew I would ;-)

Photobucket

hilary - 04 Mar 2009 08:14 - 10313 of 11056

Given that it's BoE and ECB tomorrow, I think you need to be a bit flexible with chunnel till then. The only thing that's clear right now is that it's not very clear.

:o)

hilary - 04 Mar 2009 08:40 - 10314 of 11056

Sterling looks well supported to me. Geppy looks to be breaking to the upside and I think that if cable can hold above 1.41 it may well lift off.

We'll see.

Falcothou - 04 Mar 2009 08:44 - 10315 of 11056

Quite liking round numbers I'm also quite interested in shorting usd/yen at 100, not far off!

hilary - 04 Mar 2009 08:47 - 10316 of 11056

It's failed to make a lower low, so I'll be covering those shorts manually if it breaks the falling white line.

Seymour Clearly - 04 Mar 2009 12:23 - 10317 of 11056

Hello, we're back. Yep, sterling looking stronger and 1.40 on cable seems to be a strong support, so watching my shorts like a hawk...


Rentasignal. You've answered my question :-)

Is your email back up again Hiltops?

hilary - 04 Mar 2009 12:33 - 10318 of 11056

Indeed it is, Flossie, although I haven't got round to restoring my address book yet.

Seymour Clearly - 04 Mar 2009 12:38 - 10319 of 11056

OK, will mail you sometime over the next few days.

jeffmack - 04 Mar 2009 13:21 - 10320 of 11056

Hils, What level is you falling white line, I only see the red X

hilary - 04 Mar 2009 14:37 - 10321 of 11056

About 1.41, Jeff. I've already dumped my shorts and have been buying today.

goforit - 04 Mar 2009 14:39 - 10322 of 11056

bet thats a sight!

jeffmack - 04 Mar 2009 19:14 - 10323 of 11056

cable bouncing off of 1.41 again

Seymour Clearly - 05 Mar 2009 07:59 - 10324 of 11056

Thought provoking comment from Jamie:

For much of my trading I am, if not a jobber, at least a fairly active intraday trader. I have taken a different approach to the CHF and I have built a medium/long term short position against the AUD primarily but also against the USD.

My basic reasoning is common sense or logic, (which can be a dangerous tool in forex markets). The world is going through a banking crisis of unprecedented proportions and Switzerland relies very heavily on its banking industry. Ergo, you would logically surmise, the CHF should weaken.

In addition, the CHF has been used as a safe-haven for legitimate and not-so-legitimate accounts for many decades. If, for any reason, this money suddenly starts to get scared and head for the exit, it will make the charge of the light brigade look like the local donkey derby.

The bank-privacy issues which are currently under discussion and review between UBS and the US government are obviously of massive importance. Any major changes there, and I just might be on a winner.
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