Forex rebates on every trade - win or lose!

Don't worry, hodgins. When you're staring down the barrel at a 200 pip profit later on, those odd 20 or 30 pips will be neither here nor there.

She hopes.

:o)

Well it never took out my opening short left over night at 1.7982
So decided to short at 1.7950 this am

Do we have Euro and GB rate decissions today at 12?

Morning ALL
UK 12.00 ECB 12.45

do i take it cable will go sideways till 12 and if a 1/4 rise dive but 1/2 will send it skywards

Thats my take on things

1/2% requires balls on the part of the MPC
and inflation does not warrant it

Hilary you in your 'no brainer' trade yet?

ok off for beans on toast b4 the action starts

foale,

Since shortly after 7 this morning. Been out this morning and a little surprised that it's rallied back as much as it has.

UK rates up 0.25%

0.25

opened and closed my short pretty quickly..

Short GBP @ 30

Now its calmed down a bit.

this is a tough one to call...but starting to look like a long
in my book...wiht a confirmation over 1.7950

Agreed foale ... it's tough to call now. I think it needs to be left for an hour or two now.

Well damp squib day today

My stop is at 1.8030 I think its short because of the 30day/Hour Chart.

If it breaks long today then I think we could see $2/1 this year.

On another note I could do with some help on my trading style. My problem is sticking with a system/strategy. I keep choping and changing my strategy which is not so much a downfall as limiting my profits. Anyone have any advice on devloping a strategy or some links on helping me with that sort of thing. Any advice or websites would be really apreciated.

Fwiw, I think that Cable is still a short.

Earlier my reasoning was on the basis that it had broken the rising support of the uptrend and it had put a high in place shortly after 7am this morning (this was my short stop loss) which was lower than the 18022 high of yesterday. It's now clear that the 7am "high" wasn't actually a high and the early price action was just background noise on the way to a high.

If it fails before 18022, I'll stick to my guns and maintain that it's still a short. If it breaks to a fresh high, then I'll acknowledge that my system has failed me this once and I'll give it more time for the chart to develop further and see what it looks like then

your thoughts and reasoning are always worth a lot,
however........

i don't profess to have the same degree of technical skills or acumen as
many on this thread possess, and my trading style is more based on swings, sentiment,& news. i often fit into the contrarian mould, and am beggining to think this moment in time is one such case.

cable is cheap in my opinion, and fair value is i estimate 182.00
it is currently 50 pips higher than pre interest rise, and the predicted fall
(by some )on the .25% increase did not materialise. indeed it immediately rose by 50 pips. sometimes 'passion' can work as well as any 'chart', and as i am
well reknowned in this area (!), think i may offer a wager that we shall see
182.00 before we see 177.00. (i can't remember if from our last little bet i owe you, or vice-versa) you on girl ?

Beebs,

One of the things that I like about this thread is that there are only a handful of us trading Cable and actively posting, so it makes it relatively easy to use the thread without much background noise. Likewise I respect each others' views and it serves as a useful check if or when I make a move against the masses. None of us wish to see our trading buddies out of the money.

With regards cheapness of cable and the news, my two observations are that cable has been bid these last few days to 1.80 on the rumour of a 0.25% rate hike. The old adage of "buy the rumour, sell the news" could or should apply. The other relevant point is the absence of the "patience clause" from the FOMC announcement. The tide of sentiment could easily now swing back in favour of a bullish Dollar.

Regarding the chart, I use slow oscillators which have now turned down from an overbought scenario. This indicates to me that this latest high might now be the top. Fingers crossed and good luck.