Forex rebates on every trade - win or lose!

Loonie this morning sems to be in the middle of the range that it's been in for the last week and I find myself both short and long from very similar prices at the middle of the range with both TPs inside the range boundaries and both SLs outside the boundaries.

So I'm gauranteed one TP, but if I also get one SL I'll be out of the money overall. If I get two TPs, I'll be smiling.

What's loonie hils ?

One of these, Dilbert.

lol

USD/CAD ?

Indeedy. That's a Common Loon on the coin, btw. I think we call them geese.

And there's me thinking it was a duck.

Ta sweetie.

You must be quackers if you think that's a duck!

Boom, boom.

Don't give up the day trading Basil :-)

Gawd, it just gets worse here . . .

Hi Hils
This is the log dump when ODL crashed at 2:05. I will send it to ODL to see if they know the reason.

There has been a critical error
Time : 2009.03.10 02:05
Program : Client Terminal
Version : 4.00 (build: 221, 05 Mar 2009)
OS : Windows XP Professional 5.1 Service Pack 3 (Build 2600)
Processors : 2 x X86 (level 15)
Memory : 2097151/2097151 kb
Exception : C0000005
Address : 00460FAD
Access Type : read
Access Addr : C424DBAE

Registers : EAX=00000000 CS=001b EIP=00460FAD EFLGS=00010216
: EBX=C424DBAE SS=0023 ESP=043FFF2C EBP=043FFF64
: ECX=03431D44 DS=0023 ESI=0045FFE4 FS=003b
: EDX=0000002F ES=0023 EDI=03238EB4 GS=0000

Stack Trace : 004555D1 7C80B713 00000000 00000000
: 00000000 00000000 00000000 00000000
: 00000000 00000000 00000000 00000000
: 00000000 00000000 00000000 00000000

Modules :
1 : 00400000 004A3000 c:\program files\odl metatrader 4\terminal.exe
2 : 035D0000 002C5000 c:\windows\system32\xpsp2res.dll
3 : 10100000 0000E000 c:\program files\logitech\setpoint\lgscroll.dll
4 : 121F0000 00024000 c:\program files\scansoft\omnipagese4\ophookse4.dll
5 : 16080000 00025000 c:\program files\bonjour\mdnsnsp.dll
6 : 5AD70000 00038000 c:\windows\system32\uxtheme.dll
7 : 5B0A0000 00007000 c:\windows\system32\umdmxfrm.dll
8 : 5CD70000 00007000 c:\windows\system32\serwvdrv.dll
9 : 662B0000 00058000 c:\windows\system32\hnetcfg.dll
10 : 71A50000 0003F000 c:\windows\system32\mswsock.dll
11 : 71A90000 00008000 c:\windows\system32\wshtcpip.dll
12 : 71AA0000 00008000 c:\windows\system32\ws2help.dll
13 : 71AB0000 00017000 c:\windows\system32\ws2_32.dll
14 : 72D10000 00008000 c:\windows\system32\msacm32.drv
15 : 72D20000 00009000 c:\windows\system32\wdmaud.drv
16 : 73DD0000 000FE000 c:\windows\system32\mfc42.dll
17 : 74720000 0004C000 c:\windows\system32\msctf.dll
18 : 755C0000 0002E000 c:\windows\system32\msctfime.ime
19 : 76380000 00005000 c:\windows\system32\msimg32.dll
20 : 76390000 0001D000 c:\windows\system32\imm32.dll
21 : 763B0000 00049000 c:\windows\system32\comdlg32.dll
22 : 76B40000 0002D000 c:\windows\system32\winmm.dll
23 : 76C30000 0002E000 c:\windows\system32\wintrust.dll
24 : 76C90000 00028000 c:\windows\system32\imagehlp.dll
25 : 76D60000 00019000 c:\windows\system32\iphlpapi.dll
26 : 76F20000 00027000 c:\windows\system32\dnsapi.dll
27 : 76F60000 0002C000 c:\windows\system32\wldap32.dll
28 : 76FB0000 00008000 c:\windows\system32\winrnr.dll
29 : 76FC0000 00006000 c:\windows\system32\rasadhlp.dll
30 : 77120000 0008B000 c:\windows\system32\oleaut32.dll
31 : 773D0000 00103000 c:\windows\winsxs\x86_microsoft.windows.common-controls_6595b64144ccf1df_6.0.2600.5512_x-ww_35d4ce83\comctl32.dll
32 : 774E0000 0013D000 c:\windows\system32\ole32.dll
33 : 77A80000 00095000 c:\windows\system32\crypt32.dll
34 : 77B20000 00012000 c:\windows\system32\msasn1.dll
35 : 77BD0000 00007000 c:\windows\system32\midimap.dll
36 : 77BE0000 00015000 c:\windows\system32\msacm32.dll
37 : 77C00000 00008000 c:\windows\system32\version.dll
38 : 77C10000 00058000 c:\windows\system32\msvcrt.dll
39 : 77DD0000 0009B000 c:\windows\system32\advapi32.dll
40 : 77E70000 00092000 c:\windows\system32\rpcrt4.dll
41 : 77F10000 00049000 c:\windows\system32\gdi32.dll
42 : 77F60000 00076000 c:\windows\system32\shlwapi.dll
43 : 77FE0000 00011000 c:\windows\system32\secur32.dll
44 : 7C340000 00056000 c:\windows\system32\msvcr71.dll
45 : 7C3A0000 0007B000 c:\windows\system32\msvcp71.dll
46 : 7C800000 000F6000 c:\windows\system32\kernel32.dll
47 : 7C900000 000AF000 c:\windows\system32\ntdll.dll
48 : 7C9C0000 00817000 c:\windows\system32\shell32.dll
49 : 7E410000 00091000 c:\windows\system32\user32.dll

Call stack :

I think you've broken it, Jeffie.

===========================

Huge moves in NY overnight, and here’s a re-cap via Jamie’s wrap
Chinese Premier projects that China will still grow at 8% but he’s also worried about Chinese assets in the US.
Regional Asian stock markets make significant gains

We had a relatively quiet trading session in Asia although most pairs traded up and down on multiple occasions inside fairly tight ranges. Early profit taking on the JPY crosses took EUR/USD below 1.2900 briefly and trailing stops in the AUD/USD saw that pair slip to it’s intraday low at .6507.

The Swiss National Bank is expected to be on the bid at 1.5180 in EUR/CHF. Option barriers are expected at 1.3000 in EUR/USD with stops above. A close above the 100-day MA in the AUD/USD would be a significant bullish technical event.

Gold is steady around $924/oz, oil has slipped back below $46/bbl ahead of the OPEC meeting. The Shanghai index was up almost 0.5% and the Nikkei was up almost 5%.

Ranges: EUR/USD 1.2887/1.2934, USD/JPY 97.15/98.06, Cable 1.3880/1.3954, AUD/USD .6512/64, USD/CHF 1.1843/1.1919, EUR/CHF 1.5297/1.5398 and EUR/JPY 125.40/126.60.

====================================

In relatively orderly forex trade in Asia overnight the USD has made some marginal gains. We had some interesting comments from Chinese Premier Wen Jiabao. The Premier said he would deliver on the promise of 8% growth in 2009, adding the Chinese Government might roll out an extra stimulus package if needed to meet that goal. At the same time Wen Jiaboa said he was monitoring the situation in the US economy and that he was concerned about the safety of Chinese assets there, which he called on Washington to protect.

Obviously the market will be looking out for the SNB today, after they intervened aggressively yesterday to weaken the swiss franc.

Not a huge amount of important data out today in Europe:

07:30 GMT: BOF retail survey

07:45 GMT: French January C/A

08:00 GMT: Spanish Q-4 labor costs

08:15 GMT: Swiss producer and import prices expected -0.2% m/m, -1.2% y/y

09:00 GMT: Italian Q-4 labor costs

10:00 GMT: Euro zone January retail sales expected +0.2% m/m, -2.3% y/y

10:00 GMT: Euro-zone Q-4 labor costs expected +3.6%

13/14th: Group of 20 Finance ministers meet in Horsham England.

Dontcha just hate it when Odie plays silly buggers.

NEW YORK (Dow Jones)--A combination of stronger stocks and central bank meetings will support the euro against the dollar next week.

Risk appetite is back in play with the rally in U.S. equities this week. That means traders are eager to sell safe-haven assets like the dollar in the short term.

The dollar is also bid to turn weaker ahead of the Federal Open Market Committee policy decision on Wednesday. Although currency analysts don't expect the Fed to announce that it will start buying Treasury bonds yet, a strategy known as quantitative easing, the possibility will keep the dollar subdued.

Analysts say the euro should break through the $1.30 level in the coming week. The Swiss National Bank's declared intention to buy euros when necessary to prevent appreciation of the franc also functions a source for support for the single currency.

However, analysts warn that the safe haven trade isn't totally over. Market sentiment may have hit a bottom, but that doesn't signify the U.S. economy has hit a bottom.

"To truly put in a bottom, we need to have the financial sector stabilized and functioning. We'll need more than relief from a near death experience for this to occur," said Andrew Busch, global foreign exchange strategist at BMO Capital Markets in Chicago.

Meanwhile, with the Bank of Japan also meeting next week, and questions swirling about quantitative easing there, bets on yen will be sparse. In addition, after the SNB intervention Thursday, traders are hesitant pushing up the yen in case the BOJ, which has a history of intervention, considers the same ahead of the fiscal year end this month.

Therefore, with caution surrounding both the yen and dollar, the yen is expected to trade sideways versus the greenback next week, in the range it has carved through March, Y95.0 to Y100.0

The U.K. pound is seen remaining in a weakened state after the Bank of England began purchasing gilts this week. Ahead of this first round of quantitative easing, the U.K. pound hit a six-week low of $1.3663. It has since recovered some, but uncertainty on the effects of this process creates downside risks for the pound. In the longer run, the pound should appreciate if the BOE program is effective, but the market will need time to assess its success.

Friday morning in New York, the euro was at $1.2878 from $1.2924 late Thursday, and the dollar was at Y97.98 from Y97.63, according to EBS. The euro was at Y126.22 from Y126.20. The U.K. pound was at $1.3931 from $1.3955, and the dollar was at CHF1.1881 from CHF1.1844 Thursday.

Currencies aren't expected to move on developments out of the meeting of the Group of 20 finance ministers and central bankers this weekend, ahead of the G20 summit on April 2.

The outcome of the summit, said to be pushed by the U.K. and U.S but opposed by euro-zone countries, is widely seen as more fiscal stimulus measures and a pledge for more money for the International Monetary Fund to help emerging market nations. If this scenario does occur, strategists say it is largely priced into the market already.

Jeff - that brings back happy memories of ploughing through vm dumps - sigh.

What have Odie done to you, me little Chocopops?

Fiber shorts halved, Falco.

You should be able to relax the Gonad Grip soon.

Certainly getting very contorted and red in the face now Hilary! My guess is Dow to reach 7500-800, euro to rise in sympathy to 130-31and then tank along with the dow on risk aversion once more.

Italys February-Final CPI confirmed at +0.2% m/m, 1.6% y/y

Japan Government: Economy is worsening rapidly, in a severe state

Euro zone February- Final CPI confirmed at +0.4% m/m, 1.2% y/y

Barcalys report “strong” start to the year

Risk sentiment is improving with sterling and the euro beneficiaries. Sterling has done especially well. Cable has put on the best part of two full cents this morning. Stop loss buy orders were triggered at 1.4075/80, 1.4110 and 1.4190 accelerating the move higher. “Russian” interest and a “large UK corporate ” got the ball rolling early. EUR/USD has also made some decent gains, the move there accelerating as stops above 1.3000 were triggered.

Global stockmarkets are doing well, with banking and financial stocks leading the way. In the UK shares of Barclays surged as the bank reported a “strong” start to the year. Citibank, Bank of America and JP Morgan Chase have also all said they made money in the first two months of 2009.

Fed Chairman Bernanke helped sentiment. In his “60 Minutes” appearance he said should the government succeed in calming financial markets, then the U.S. recession will probably end this year. The official said “green shoots” are appearing in some markets aided by the Fed and there has been “some improvement” in banks.

Meanwhile the G20 did their bit. The Worlds’ top finance ministers and central bankers pledged to restore bank lending strength, financial regulations and boost funding to the IMF.

Has anyone done FXBootcamp? I jsut wondered if it was any good?

Sue, I joined them for a couple of months when I first attempted forex, a couple of years ago.

At the time (it might of changed) their strategy was based upon the following :

EMA 5 (based on close) and SMA 8 (based upon OPEN) cross

Take notice of the 21 and 55 EMA

MACD 21,55,8

Stochastics 8,5,3

PIVOTS (they love pivots), Fibonacci Levels amd Trendlines.

This was based mainly on 15 and 5 minute charts. You had to take notice of a 5/8 cross on the hourly though.

I have to say I still use the 5/8 cross although I take more notice of the 50SMA and 200 EMA.

It might have changed, but the lessons were only made available gradually. So you had to subscribe for a few months to work your way through all of the online course. As a beginner the course was very good - no complaints.

The online trading sessions are not a signals service. They do not tell you when to take a trade. Which in one respect is good, you have to do some work yourself.

However, having described a setup they were very good at explaining why the setup might fail. So many times I sat here thinking they had binned the trade only to find later that they were bragging about the number of pips they had made having taken the trade.

Quite often their end of day videos bore no resemblance to the live trading chatter whatsoever. They could always say they spotted a good trade setup but never committed at the time to actually taking it - which did leave them with an opt out later ;-)

You also have to listen to how good a golfer Wayne is, and what a great car he drives ............

If you are debating a subscription Wayne does a live broadcast on FxStreet for Non Farm Payrolls. That will give you a good impression of whether you would gain anything from their live 'classes'.

There are a lot of Bootcamp videos on YouTube where you can see their setup logic.

They are definitely not rip off merchants. I did learn a lot about Forex in a short space of time. The usefulness of their live trading sessions I would say is debatable.