Forex rebates on every trade - win or lose!

Nobody's offered any comment on my post 10550, but I think it's very important to be aware of it, particularly if you use a US brokerage.

If people want to use multiple MT4 EAs on the same account for instance, and one opens a cable long based on the H4 chart and another opens a cable short based upon a signal from the M1 chart, there will be a problem because the broker will close all or part of the first position instead of opening a new second position as he would now. It will signal the end of some of the Martingale strategies which open simultaneous opposite positions.

The immediate solution seems either to open multiple accounts or find a broker which is unaffected by it.

I received an email about it 2 or 3 days ago from IBFX, but it appears that other brokerages are doing the same.

Aside from anything else, I don't really understand the logic behind it and I wonder how far it will spread.

Presumably Hiltops if you have (say) 2 positions using the same EA on the same timeframe with the same lot size they would both be closed?

I had cable long and short running last week, both of which closed profitably, but I assume this would no longer be possible for US brokers. That's quite a problem as I see it.

Will IBFX be following it?

IBFX are introducing it on their demo servers soon to give customers a feel for what it's all about, but other brokers will be applying it as well if they are NFA members as I understand.

And timeframes aren't the issue, Flossie. If you want two opposite positions on the same account it will no longer be possible, full stop.

There's more on the IBFX link that I posted in 10561.

Hils, have seny you an email(2EA) showing you the coloured macd, only just got it but means one less indicator to monitor!

still pretty thin out there regarding earlier comment now closed cable shorts and flat goin into the budget.

Easy way to make money on Forex

Hils / anyone , those times for economic announcements in the header , I know this is probably a stupid question but I need to be sure ... is 8.30am GMT equivalent to 9.30am BST ?

Yes Dilbert.

Spring Forward, Fall Back.

Cable was always a good short as soon as Darling opened his mouth

I think it's a two-way play today, Jeffie. All the time it's below around 1.4650 it could go either way, imo.

PS. Not sure how often you check your Pipex emails while you're in Belgium, but there should be one in your inbox.

Hils
usually evening time, will read later.

Ta Hils , too busy to thank you earlier was kicking the crap out of GBP during the budget :-)

Where's choccy these days ?

Following on from earlier reports of Russian central bank buying around 1.4520/30, were now hearing the same bank was in again, this time selling around the 1.4595 session high. Also reports that an Asian central bank was seen selling up around that level.

Technical support 1.4540/45, resistance at 1.4600 and 1.4640/45.

I'm short.

Hi shorty

Do you wear glasses as well, shorty?

:o)

I'll set 'em up, you knock 'em down.

Blimey gorgeous.
Just busy trying to implement plan B - like you I guess ;)

Plan A working well at moment and aint got a plan b .... thats what I need to email you about :-)

Plan B, After all these years I would have thought Plan C and D should be in operation by now. Good to see you back chocky. If your unlucky I might even give you a call in the next few days.