Forex rebates on every trade - win or lose!

and this morning the chief forex dealer from hbos
declared on bloomberg that would come under a lot more pressure today



hmmmm - if i had an acct with them i'd close it.

hilary your 60 pip trailing..is that an auto trailing stop or you manually hike it up now and again?

Promise only looking for 59 pips now on the downside from the highs
then my close and reverse should ensure the market turns back to the highs
on a weight of money arguement :-)

foale,

Automatic???? I'm a manual dinosaur.

glad you said that me too....
Well despite it going down I closed my short position
for a few miserable points when it looked like 1.7800 was breaking
though it was also showing signs of a doji formation
so decided to close..

I make lousy trading decisions in the pm as a rule
(and not much better in the am)..so flat

Dow at 9930 might be having some effect also
and Oil at $40.50

Was not expecting this much retracement

Looks like my prevoius statement was a bit understated
anyone know why so much dollar bullishness this am

Is it Dollar bullishness or just a normal healthy retracement?

warnings of it yesterday from that hbos guy,
can only think we're pricing up for .25% at end of june usa,
though seems a pretty flimsy excuse for such a strong $

some of it may be overspill effect from eastern currencies,
with slow down in asian growth, $ gets stronger, and we get
sideline effect....

just my thoughts david - don't take too much notice !

Taking out a long down here with a tight stop

I've found that, in a generally falling market (ie as over the last 30 days), base building can take a few days with retracements back to fish for some support before a strong push up.

Hilary Hope you are right but still some retracement
80 pips off the lows a few minutes ago

Does that mean you are long again given that your 60pips
(dinasour) trailing stop would have taken you out yesterday

My stop is at the lows

Yes, I'm long again albeit a bit prematurely this morning. Currently back to around my entry.

Was not so confident of this long today..added a little to it
then sold the lot at 1.7709 as it pierced the 4:30 am high
Now flat...

I'm long now on the 'higher low',
but treading very carefully, in fact
it's only a little toe !

Small long post figs....

Perhaps 2 toes in size
Not married to it

talk about market undecided...

Anyone post figures please?

April PPI up 0.7%; retail sales down 0.5%; jobless claims up to 331,000.

Weak Data but a Weak Market as well.. No Move...

I think the volume is low waiting for tomorrows data.

todays low of 1.7610 nearly tested
once that goes seems to open up the 17533 low of 11th
Have to say slowly becoming a dollar bull...

Hi Guys... Back again, and now I've got my SB account sorted out I can get a bit more involved (I was in same situation as Sue42 - CFD account with you-know-who but they said I didn't have enough experience to trade forex direct. "But we can open a spreadbet account for you, sir...").

I tend to look at EUR/USD more than cable cos I live in Euroland. I think EURUSD is approaching fairly strong support on the 60 min chart at 11760 approx. This is where it bounced on 25 April (six-month low), and is also the old downtrend resistance line going back a couple of weeks that provided support yesterday.
Should be interesting to see what happens when it gets there...
I hope this is making sense. It would be clearer if I could post a chart - can anyone tell me how to do that?