Forex rebates on every trade - win or lose!

lol even I know that :-)

.

Hilly
That breakout strategy has been 100% for me this week. I wouldnt mind getting an EA written for it so I can trade the Aussie and Jap opening.

Any advice you can give in looking for a coder. Is it like ebay, only take someone with good feedback.

Jeff what pairs are you using it with and what times? I had a quick look a GBPUSD between 1200-1400UK and I didn't like the stop levels required so under my MM.

Yesterday it would have needed 86 point SL and I dont like to trade GU with that much.

Also when are you closing your trades?

Its strange that no one has written an EA for this I read a couple of other threads about it as well and they didn't have EAs either.

Jeff,

Somebody not too far away might have already been building a system these last few weeks along those very lines. It might even already be in test.

:o)

86 pip SLs are for pansies, Spacie. REAL WOMEN don't go under 200.

:o)

Hils
I have written the outline for it so will send it to you at the weekend to get your feedback.

Tim
I will send you my rules at the weekend. I think from potential 19 trades this week 18 would be winners.

Hils ;-) I guess it depends on how long your planning to keep the trade open for, I was looking at closing on the same day, i will have a look at longer times as well, but anyway I am not claiming to be a REAL WOMEN ;-)

If your looking for testers for any EA's that someone you know is working on ...... I know someone that would be more than happy to have a look.

Jeff, that would be great thanks. Impressive figures, maybe you wont need that new job and you can join me in the long term unemployed team.

I could host it on my new VPS for you.

Once I get it running :-)

Jeff, I would be interested in seeing your setup rules if you could add me to your list please.

I have traded overnight ranges with some success but have not really looked at shorter timeframes for the range or indeed those occurring later in the day.

Tim
I use the following
Europe - EURUSD 06:00 - 08:00
NY - GBPUSD 11:00 - 13:00
Aussie - AUDUSD 21:00 - 23:00
Japan - GBPJPY 23:00 - 01:00

These times are all GMT which ODL server is on. If you use Alpari you need to add 2 hours as Europe is GBP + 2 (UK is GMT + 1)

qwento
Will do

No problem, Jeffie. Just whizz it through along with your cheque whenever you want.

I get the impression, probably wrong with my forex track record that cable is staging a fake out to the upside

The U.S. economy lost 663.000 jobs in March pushing the unemployment rate to 8.5 percent, the highest level in more than 25 years, the U.S. Bureau of Labor Statistics said today in Washington. March was the 15th consecutive month with job losses and the U.S. economy has now lost more than 5 million jobs since the financial crisis erupted in late 2007. The U.S. dollar exchange rate seems to be reacting positively to the job figures. Still, price action often reverses after a news release since investors expectations are already discounted on exchange rates.

Well I'm long & looking for a few pips although I thought if it breaks up from here we could have a nice run up for some time to come - the D1 chart probably illustrates it best.

Flossiepops is right.

There's a dinky little ChocolineTM rising up through the lows since the fool has his day this week. I'd stay long all the time the price is above the ChocolineTM, but wdik.

Risk sentiment still improving, Asian stocks, oil up, while gold, treasuries are lower etc etc. Comments from Federal Reserve Chairman Bernanke, that policies to unfreeze credit markets are working, is helping sentiment.

In this environment the likes of sterling, euro, aussie, canadian dollar are prospering, while yen,greenback and swissy struggle. The ability of EUR/JPY to hold above 135.00 is reflective of the healthy risk appetite at the start of the week. Things have improved to the extent that people are talking about a mini revival of the carry trade.

For today, not a huge amount on the economic data front;

08:30 GMT: Euro zone sentix investor confidence expected -40.4

09:00 GMT: Euro zone PPI (Feb) expected -0.5% m/m, -1.5% y/y

09:00 GMT: Euro Zone retail sales (Feb) -0.4% m/m, -2.5% y/y

Which of the above do you think is the first to show risk aversion or do you just go for US dollar index?

All Yen crosses are a good barometer of risk aversion, Falco, but GBP/JPY is tradionally the most volatile instrument on the market. So if you've ever done "The Wall" in Avoriaz, you certainly be up for a bit of geppy.

Italy hit by 6.3 magnitude earthquake Northeast of Rome

UK new car registrations down 30.5% y/y in March

ECB’s Quaden: ECB still has room to move on rates, also reflecting other measures

ECB’s Bonello: Have to consider all options when interest rates at very low levels

Euro zone sentix investor confidence index -35.3 in April, up from -42.7 in March, and better than median forecast of -40.4

Institute of Fiscal Studies (IFS) UK deficit “more than predicted.” Says UK’s deficit about 2.7% more than Chancellor acknowledged in the pre-Budget report
Euro zone February retail sales -0.6% m/m, -4.0% y/y, weaker than expected, median forecasts -0.4% and -2.5% respectively. January data revised up, to -1.7% y/y from -2.2%

Euro zone February PPI -0.5% m/m, exactly as expected, -1.8% y/y, weaker than expected compared to median forecast of -1.5%. January data revised down, to -1.1% m/m and -0.7% y/y from previous -0.8% and -0.5% respectively.

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

The morning started off with improving risk sentiment very much to the fore, the likes of euro,cable, aussie, canadian dollar prospering, while yen, swissy struggled. The process has certainly slowed through-out the morning with the euro, cable giving ground.

The euro hasn’t been helped by comments from Quaden and Bonello, which have helped re-highlight likelihood of ECB quantitative ease coming down the pike. The release of weaker than expected euro-zone retail sales and producer prices have also knocked the euro a little. Confirmation of recent euro sales by Eastern European central banks (Latvia/Poland), in support of their currencies with more likely to be coming, has also had a marginally negative impact although the amounts involved aren’t huge.

Cable meanwhile has given up about half a cent on the day. The Institute of Fiscal studies, highlighting the fact that the UK deficit is going to be more than the Chancellor forecast, has helped knock back sterling a little. New car registrations for March, down a hefty 30.5% y/y, also haven’t helped.

The yen has also regained a little lost ground, USD/JPY down at 101.15 from an earlier 101.45 high. Reports of Japanese exporters lined up at 101.40/50 at play here.