Forex rebates on every trade - win or lose!

Greetings all ....................

Any of you expert currency traders thinking of shorting GBP any time soon, as it reaches 200 MA.

All views welcome.

Regards
Amar

We trade what we see on this thread, Amar. If we see it's going down, we'll short it. If we think it might go down, we'll stay long.

:o)

Thanks Hils ................ 'I see' what you're saying .............

But don't some of you guys / gals operate some sophisticated systems and have automated set ups that help.

Any guidance for staying in winning trades for as long as possible.

Cheers
Amar

Bel1ze8SA - Interesting link - thanks.

Amar,, have a look at Hils' post 10611 earlier on page 532, which gives some clues. The most important thing is to get the direction right, and be prepared to have a wide stop with the courage of your convictions. Don't fight the trend.

Hiltops is always saying about the leverage Fx provides - which works for you and against you. Small movements in an instrument mean large profits - or losses - if you're using too much margin, and when a position goes against you all you see is s disappearing, and panic sets in - usually at the point of greatest loss! (Been there, got the T shirt).

Hiltops' automated systems are no great secret - click on the little green house against her name.

Thanks SC.

Amar

Amar,

The best guidance for staying in a trade as long as possible is to set your stop loss and then turn your PC off and go for a swim or go shopping or play tennis. Just do anything other than watch the screen 24/5 because it can induce all manner of strange and unwanted emotions.

When you've done all that, turn your PC back on and, if you're still in the trade, adjust your stop and turn your PC off once more.

Hils thats been my recent way of trading as well! and its been better than my earlier efforts at short term trading ...

It's certainly less stressful, Spacie.

And with 2 hormonal teenagers, a menopausal housekeeper and a gardener who can't speak English, I need stress right now like I need a hole in the head.

:o)

For Amar.

On the topside there’s alot of focus on the 200 day MA around 1.5553. Sources note decent buy stops lined up just above there.

From the Lonely Trader blog that Bel1ze8SA mentions above - there seems to be a lack of clear thinking; trend is definitely up, yet ...

Ive added to my EURUSD short at 13685 at twice the size of the first. More analysis and charts to come. Im still on both sides of the market, but in terms of the existing range the short trade is better positioned. Im considering cutting part of my long trade here as well for a tiny profit, although I believe this pair could return to 14000 or higher.

Currently at 13790

No wonder he's lonely.

:o)

Will you be my friend, Hil?

We'd better gloss over that, Delboy :-)

Has anyone installed Metatrader build 224 yet - I'm waiting just to make sure there are no bugs this time!

I have, Flossiepops.

signed,

Hillynomates

What just happened to cable ?

I think the data was released a bit early, Dilbert.

lol , just had a great 10 second trade.

Cheers Hils

S&P revises UK outlook to negative from stable; cable slumps
Written by Gerry Davies
May 21, 2009 at 08:27 GMT

Oh boy, S&P have revised their outlook for the UK from stable to negative. Cable in tailspin

Bloody yanks :-)

cable got me as well, but not hit stop yet......