Forex rebates on every trade - win or lose!

Well I'm in group 2 with a smattering of danger. Trouble is, I watch and am often sooo tempted - which usually ends in tears.

That's my point exactly and it relates to trading what you think rather than what you see. If you know how it works, temptation will always get in the way.

Emotion will grab you by the short and curlies and twist and tug at them till you can't stand the pain any longer. A computer will just stick to the rules and doesn't understand pain and emotion.

That's why I recommend a Brazilian!

:o)

Training as we speak-any volunteers?!

From TraderTom
A tradeable wedge is setting up on the 240 min chart on Sterling Dollar. The Sterling Pound weak against major currencies. There is a potential 400 point move in this, and I am trying to find a suitable entry this morning in the live room.

Is anyone going to trader Tom's seminar tonight?

No, I am in Brussels. Whilst I know of Tom H I just came across his website today. Do you follow him?

Errrrrrrr. Is Trader Tom the Danish guy who talks about moon cycles and all that? If so, it's entertaining stuff but total cr@p.

Anyway, it's Barca Chelsea tonight.

Jeffmack, I don't follow but am interested in following his trading posts.

Hilary, ask Ruth who Tom is :O)

H, dont say that or Ruth will be very very upset, I think she still fancies the bald one ;-)

I agree with you, Tom H is a really nice bloke but all that star and moon stuff ......

He might have been the inspiration for a well know trading system....

Trader Tom is indeed Tom H.

Jeff, looks as though your boss got a bit of a hard time from his shareholders ... http://news.bbc.co.uk/1/hi/world/europe/8023459.stm

Yes, saw it on the news over here. I guess they wont mind as they finally got the result they wanted.

Was Master Tom expecting a 400 pip drop in cable then? Not quite happened has it!

Going back to pth's 10585 post and the subsequent discussion about leave the EA on the machines alone, Winalot has been running three cable longs for me starting on Friday. I was underwater for most of Monday and a little less yesterday. They've all finally closed out today for +124, +113 and +89. I was beginning to think I should close them out manually for roughly net zero last night and start afresh, but "keep the faith" seems to be the message.

Hallelujah Brother. And don't forget as well that it took a fourth one overnight which it closed earlier for another 80 or so.

:o)

I've just added that little quartet up, Flossiepops. D'ya know it adds up to about 400 pips? I think I'll do a seminar.

:o)

Only let mine do 3 positions Hiltops. Mustn't be greedy. But it is a very, very nice feeling.

That's strange, Flossiepops, because I thought mine was only set to do 3 as well. I've just checked and the Wardrobe Monster must have changed it to 4 when I was asleep.

That's lucky.

:o)

Who needs Tom when you have Lassie

Nice to see you're in complete control Hiltops

This is news to me - you learn all sorts.

As always at the end of the month, there is lots of talk in the market of flows at the fixings. The biggest flows at month-end tend to be from index funds. They passively hold a basket of stocks and they typically adjust their FX exposure once a month to match their currency exposure to the index price.

US equity markets have outperformed most overseas markets this month, leaving index funds with an surplus of dollars. Those dollars will be sold at the 15:00 GMT fix.

One caveat: Many a high-priced quant at the custody banks has been working on forecasting these flows for days. Many have already front-run the flows, helping explain the dollar weakness earlier in the session to a certain degree. Once burned, dealers may be twice shy in trying to profit from the flows.

For what its worth, there remains talk of major flows into AUD/USD for month-end today