Forex rebates on every trade - win or lose!

Choccie
If it wasnt for insurance I would be supporting them too. One had meningitus recently and vet bills were almost 5,000

hils, i think he usually is, who did he have on last nite

Sarah Ferguson and Ed Byrne, Gofe, but it was the audience participation bit that was the funniest. I don't how much they'll edit out. It'll be on tonight.

So did they edit stuff out, Hil?

Oh yes, DelBoy. They spend about an hour and a half recording it for a half hour show. The guy is so clever and so sharp because it just flows continuously for that time without any breaks or re-takes whatsoever.

Strangely enough they edited his gay sex joke out. I can't imagine why.

And this forex malarky is a funny old game too. I spent much of yesterday mulling over my Wednesday cable longs. I might bank them at some stage today. Maybe ahead of the farmers thing. But then again, I might not.

:o)

I am still having a problem holding positions. As soon as they go 60-80 points against me I close them. Only to see them recover over the next day or 2. I dont like sitting here looking at negative numbers, it makes me nervous.

Pansy!

Jeff,

With cable at $1.42, 80 pips is just over 0.5%. If this were a stock, the chances are that your spread and costs would be more than that.

This is the effect of excessive leverage and how it screws up your emotions. One solution is to scale your position size down so that you don't use the leverage on offer.

Sob Sob

All of my trading in last couple of years has been intraday stuff. I tend to focus too much on the P&L tick by tick and it panics me in closing a positions. Probably 7 out of 10 of those positions ended up coming good.

Must try harder

Tell him Flossie.

Well Jeff,

I have to say that since I started using Winalot (this sounds like one of those corny ads for anything you like) my Fx trading has calmed down and I've realised that you can have positions held for hours or days - one of the positions ran for about 4 or 5 days I think.

I used to trade in and out over the course of a few hours only, or even minutes sometimes, but now am quite happy, because as long as the direction is right, most of the positions will come good. Having said all that this today's cable long was all over before breakfast :-)

what leverage would you recommend hils?

currently short usd/jpy, taken half my position of, will probably close the rest before nfp, dont fancy holding anything in this market over wkend

I like the scale out idea where you sell a portion of the trade as soon as you are is a position that the scale out covers the cost of the trade. That way the remain portion can at worse break even. This does not stop you making losses if the trade never goes the right way and but for me it does feel nice when I have a trade on that I know I cant lose any money on.

just closed rest of my jpy as my short term system has just given me a potential buy signal. it gave me a sell signal on gbp/usd just after 8.30 this morning

I use about 1:1, Gofe.

:o)

Actually, Gofe, I never look at margin. I've seriously got no idea whether I've got 1:100 or 1:500.

What I do know from my screen is that I've got 4 open positions right now and my margin usage is less than 3%.

The most important thing as far as I'm concerned is the balance risk to my account based upon my stop-losses (ie. the percentage that my account will decrease by if everything goes t!ts up).

try to keep to under 2.5% per trade...good thing this week!

Front cover of Moneyweek says 'Sell Europe will the recession trash the Euro? They did a simialr one last Summer re. Sterling, it went up briefly and has been heading South ever since...must get this old Norton over to Germany and sold pronto!

There's more...
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/4958831/Overvalued-euro-set-to-plunge-within-months.html

I was just going to post that Falco!!!