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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!

Paulismyname - 26 Apr 2004 11:13 - 1041 of 11056

Hilary, thanks for your comments. As you possibly know I am more an investor rather than trader. Warren Buffet had much the same idea when he started buying foreign assets last year due to what he thought was the dollar weakness.

I believe pure trading to be a zero sum game unless you are doing it with other peoples money -:)

hilary - 26 Apr 2004 14:13 - 1042 of 11056

Paul,

You'll have to trust me because I've no intention whatsoever of talking figures. Trading is not a zero sum game and I wouldn't bother doing it if it were.

edit: I'm still long Cable from the end of last week, btw. :o)

Tellon - 26 Apr 2004 14:22 - 1043 of 11056

Ive just closed my long cable from last week. +200pips.

Tellon - 26 Apr 2004 14:24 - 1044 of 11056

I also closed my Long Euro -8 pip.

Short Euro @ 11870

hilary - 26 Apr 2004 14:29 - 1045 of 11056

Nice one, Tellon. I've pushed my stop up a bit tighter to lock in some decent gains. The pullback looks overdue but I suspect the upwards momentum could continue for another day or so yet.

Tellon - 26 Apr 2004 14:52 - 1046 of 11056

I agree, but ive been burned before when i got gready, so took em while I could..

hilary - 26 Apr 2004 14:53 - 1047 of 11056

It's teetering now on the edge of my stop. Will she stay or will she go?

Tellon - 26 Apr 2004 15:04 - 1048 of 11056

New home sales up 8.9% up to 1.23 million annual pace in March.

Paulismyname - 26 Apr 2004 16:18 - 1049 of 11056

Hilary, you are a delightful lady but sometimes text talking can be misunderstood. What I mean is that trading is a zero sum game because for every winner there has to be a looser apart from the broker in the middle.

From an investment viewpoint generally, successful investments imply winners on each side.

Not saying you cannot trade, but from my own viewpoint I prefer to play a game that favours winners.

Best of luck with your forex trading

hilary - 26 Apr 2004 18:26 - 1050 of 11056

Oh, I see what you're trying to say, Paul. If what I read on these boards is correct, I would've thought that, for every winner, there are more likely 20 or 30 losers.

Everyone can get lucky once or twice, but a successful trader will win consistently on a regular basis. If you happen to be one of the "1 in 20" brigade, what's the point in doing it with somebody elses money? You might as well use your own.

Paulismyname - 26 Apr 2004 22:24 - 1051 of 11056

Hilary, yes you are right, pure trading is a talent which not all of us have, and that includes me to an extent although thanks to some people here I am at least now the right side of 50%!

Prefer to look at investment as its less stressfull. I class you as a successful trader though, interestingly enough the other consistant day trader I know personally (known as Smelberg on afn) (Paula) is also consistantly good.

Tellon - 27 Apr 2004 07:38 - 1052 of 11056

Morning All,

Ive moved my stop loss to break even on my Euro Short from yesterday. Its testing the resistance on the hourly chart and it looks a bit strong for my likeing..

France Q4 GDP in 6mins.. (0745 BST)

So we may get an answer soon..

foale - 27 Apr 2004 09:32 - 1053 of 11056

Hils.... you still in your long Cable...or stopped out?

hilary - 27 Apr 2004 09:40 - 1054 of 11056

foale,

Stopped yesterday. Was tempted to long again at 7am but decided on the handsitting approach instead.

Tellon - 27 Apr 2004 10:53 - 1055 of 11056

Im considering a Long GBP/USD with a target of 18150. Not sure yet thought..

Target set by 1-hour chart resistance of Highs.

CBI Industrial Trends Survey in 7mins that may help me make up my mind.

Tellon - 27 Apr 2004 11:11 - 1056 of 11056

Long GBP/USD (Day - Short Term & Postion - Long Term)

I think the short term maybe a mistake so using a tight stoploss. Long term im looking for 18050 - 18150

Tellon - 27 Apr 2004 11:12 - 1057 of 11056

US: April consumer confidence (1500 BST), March existing home sales (1500 BST);

Coming Up...

hilary - 27 Apr 2004 13:23 - 1058 of 11056

BRUSSELS (AFX) - European Central Bank president Jean-Claude Trichet said market interest rates in the euro zone are low because of the ECB's success in keeping inflation expectations under control.

Confidence in the ECB's ability to control inflation keeps market interest rates low across the whole range of maturities, he said.

'We are delivering the best yield curve possible for Europe,' he told the European Parliament economic and monetary affairs committee.

Surveys have repeatedly shown that financial markets expect future euro zone inflation to be between 1.7 and 1.9 pct, exactly in line with the ECB's target, Trichet said.

If markets were less confident about the ECB's ability to keep inflation under control, then long-term market rates in particular would rise, with negative consequences for the euro zone economy, he said.

Trichet said the ECB's forecast of a gradual recovery in the euro zone economy has been consistent for several months and was confirmed at the last governing council meeting on April 1, when the ECB left its key interest rate unchanged at 2.00 pct.

Asked about criticism that he and other council members had fuelled expectations of a rate cut at the April 1 meeting, Trichet said fewer than 20 pct of market experts and economists were expecting a rate cut at the meeting and the majority expected rates to be left unchanged.

'We are one of the most predictable central banks in the world,' he said.

Trichet declined to comment on the impact of a possible rate increase in the US, but he said ministers and central bankers at last weekend's G7 meeting in Washington had agreed that the US and euro zone economies each have different 'assets and liabilities'.

The US has a very flexible economy that is able to quickly make use of technological innovation, but it lacks savings, he said.

The euro zone meanwhile has ample savings and capital but still has a lot of work to do on structural reforms, he said.

He said there was also a consensus that the statement on exchange rates at the G7's February meeting continued to capture members' views and the same wording was therefore retained in last weekend's communique.

Asked about the apparent inconsistency of requiring new EU members to join the ERM2 exchange rate system while the UK says it would not join ERM2 ahead of any euro entry, Trichet said two years' membership of ERM2 remains one of the Maastricht conditions for euro entry.

foale - 28 Apr 2004 07:12 - 1059 of 11056

Managed to exit my cable long at 1.7952 very early this am.

Sitting it out now, but with a downward bias in mind for later

Tellon - 28 Apr 2004 07:47 - 1060 of 11056

Still holding my long myself.
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