Forex rebates on every trade - win or lose!

Posting your legs again will be a good test
of your broadband capabilies

and we could then adopt it as the moneyAM "testcard"
Beeble will remember those

To me its all a blur prior to the 'Spice Girls'

You're joking aren't you, guys?

The last time that we moved the kids were only toddlers. The amount of junk that we've accumulated in the last 9 years is phenomenal. There are cardbox boxes everywhere. It'll take a month of Sundays to sort them all out.

And to make matters worse, it looks like I got stopped from my EUR/USD short too.

edit: Yes. Broadband's on MM.

I closed my short for +50. (Because of IG not because of direction change)

I still see it going down with a Mental stop @ 1.8036 - Emergency stop @ 1.8136 though.

IG Index has changed its rules and the way it works today so having to find a new sb company. Probably go with capital but for a while im out of the game. Got to learn a new enviroment.

Since Hilary branched out from Cable
I am shorting USD/Yen

Good luck Tellon...I am sure you will be back soon

the big boys are long USD/YEN minimum postion 5million levaraged. Be carefull..

Yes, good luck Tellon. I opened an IG account some time ago, looked at their ground rules and promptly withdrew my funds again. I wouldn't touch them with a bargepole.

that makes us even then :-)

seroiusly thanks for the advice

I still chuck in my 2 cents worth, all though they will be paper trades.. People are a lot braver with virtual money so you will need to take my comments with a pinch of salt..

Tellon... all comments welcome

Closed small long for not a lot after being negative for a lot of the day but off on holiday in a day or two so decreasing positions.
Tellon did you do daily/rolling spot with IG. They are pigs because all their prices (your stops/limits) settle on their midprice. I see their interface has changed but hadn't noticed any actual trading/spread differences
Finsptreads aren't perfect (eg. not open during the night)but for someone like me who only trades 3-5 pounds a point with wide stops I actually find them quite good. The main reasons being they will always settle on the stop/limit bid/offer specified (yes I see you could be gapped overnight if stops too tight but with my wide stops it hasn't actually happened to me). The biggest advantage I find with them is that you can run trailing stops up very close behind the price, of course if you run it too close you will often be stopped out but when sharp moves occur it seems easier to get most of the move, sometimes even getting back in,or making it easier to put on pyramid trades by "gain locking" the first and/or the second one. Spreads could always be closer but may be a little less than IG.
Of course, I am only a relatively new currency trader who tries to add a bit extra to other trades and ETrade probably wouldn't even let me trade currency but I always appreciate the views of the experts on this thread.

Forex - Dollar mixed after resurgent oil saps U.S. stock gains - UPDATE 5

CHICAGO (AFX) -- The dollar fell vs. its European counterparts but climbed
from two-week yen lows as resurgent oil prices deflated blue-chip U.S. stocks.
"Developments in the oil market will be of some interest, with equities so far
perking up globally on prospects of increased supply from the Saudis," said
foreign-exchange analysts at the Web-based research firm Action Economics. "We
look for recent dollar trading ranges to hold up."
Against this backdrop, the dollar was fell 0.3 percent against Europe's shared
currency, with the euro drawing $1.2010. The dollar reversed course, erasing
earlier weakness to score a gain against its Japanese counterpart of 0.3 percent
in late U.S. trading, at 112.73 yen per dollar.
The greenback fell 0.1 percent vs. the British pound, with sterling fetching
$1.7912. The U.S. currency fell 0.4 percent against its Swiss counterpart, at
1.2775 francs per dollar.
U.S. stocks initially rose after Saudi Arabia said over the weekend that it
would increase oil production, but its commitment to opening the crude spigots
wasn't seconded by other OPEC producers. OPEC will make a formal ruling on what
changes, if any, to make in members' output quotas at its June 3 meeting.
Weaker U.S. stock trade typically cuts demand for dollars from foreigners.
Spencer Abraham, the U.S. energy secretary, told reporters after meeting with
Saudi officials in Amsterdam that Saudi Arabia would pump an additional 600,000
barrels a day starting in June as part of the pledge. .
The Dow Jones Industrial Average finished in the red, although its tech-heavy
cousin, the Nasdaq, managed a positive close, as the Saudi pledge did little to
cap crude futures prices.
July crude closed at an all-time closing high of $41.72 a barrel, up $1.79. June
unleaded gasoline at all-time highest close at $1.4578, up 4.1 cents, up 2.9
percent. See . See .
If eye-popping energy bills sap consumer spending, the Federal Reserve could be
less inclined to raise U.S. interest rates. The dollar has gained for much of
this year on expectations for a rate increase.
At the same time, higher energy prices might raise global inflation levels,
which could prove supportive for the dollar.
No U.S. economic reports were scheduled for release Monday, and Federal Reserve
speeches would come later in the week. The dollar continues to be underpinned,
against the euro in particular, on prospects for rising interest rates this
year. But the market needs new confirmation from data or Fed comments that any
U.S. rate hikes will come sooner rather than later.
Higher rates would narrow the interest-rate differential between the Federal
Reserve's 1 percent target and the European Central Bank's 2 percent target,
boosting the allure of dollar-denominated assets in the eyes of foreign
investors.
Speaking in Paris, ECB President Jean-Claude Trichet repeated that the regional
central bank's interest-rate policy remains at "exceptionally" accommodative
levels, giving the bank little room to maneuver to further aid the economic
recovery.
U.S. data on consumer confidence, which are due Tuesday, kick off the week's
fairly light schedule ahead of Memorial Day. German reports on gross domestic
product and the closely watched Ifo business survey are also due Tuesday. See .
See .
Little new from G-7
Meanwhile, currency investors digested weekend comments from finance ministers
meeting in New York. The Group of Seven's official statement stuck to oil's
global economic impact and offered little new perspective on foreign-exchange
policy or current currency values.
"Lower oil prices would benefit the world economy... We now call on all oil
producers to provide adequate supplies to ensure that world oil prices return to
levels consistent with lasting global economic prosperity," the G-7 said in a
statement. .
Some Asia-based traders think the dollar is due for a technical rebound after
falling to a two-week yen low last week, although any gains in Japanese equities
would likely cap dollar gains. See
"It seems as though that the dollar's one-week correction against the yen has
ended," said Toshihiko Masaki, Tokyo branch treasurer at China Construction
Bank. "But it's not likely the dollar will bounce back sharply because if the
Nikkei rises, that would usually lead to yen's appreciation."
Bullish Canada
With little new to drive trading against the yen and euro, some focus was put on
U.S.-Canadian foreign exchange, although Canadian markets are closed for
Victoria Day.
The U.S. dollar was trading down 0.2 percent against its Canadian counterpart,
at C$1.3703.
There are two reasons to expect new interest in the Canadian dollar: an election
scheduled for nearly a month from now and Canadian oil producer conversion from
U.S. dollars to the home currency, said Marc Chandler, currency analyst with
HSBC.
Prime Minister Paul Martin has set June 28 as the election date.
"There had been much speculation about a spring election, but due to a domestic
scandal that has eroded support for the Liberal Party, this was very much up in
the air," said Chandler. "The election is expected to be close, but most still
expect Martin and the Liberals to squeak by."
The stability of leadership is seen supporting the Canadian currency.
Also, Tuesday is "oil day" for Canadian exporters, the day when they sell their
U.S. dollar holdings (global oil sales are priced in the U.S. currency) and buy
the home currency.
This story was supplied by CBSMarketWatch. For further information see
www.cbsmarketwatch.com.

Morning All,

Im trying out capital and they dont trade between 21:00 and 07:00. Im wondering how the limit orders work though, would they exit over night? How does that work with finspreads?

IG's spreads are huge, the largest out there. But the price is gaurnteed no slipage. So when big numbers came out I always got the price at the top or bottom. That made up for the extra 10pip spread over other companys. GBP/USD spread is 18pips on June Contract.

Thanks for the info hodgins.. Anyway my limit order got filled at 7.05 unfortunatley didnt get to test Capitals workings but currently,

Long GBP/USD 1.7990 Stop @ 17900(edit - On paper)

Closed cable longs at 1.7989
only to bag some profits...and now watching

anyone got the cable support/resistance?

I think its all about 1.8 all others have been broken.

closed my long cable +278 - t'was only small though,
looking to re-enter long a bit lower down,

Hilary I know you are a girl with largish stops

(Bet thats the best compliment you'll get all day!)

But do you have a maximum drawdown amount or % of capital that you will take
on a day...or is it a pips amount

when I look back at a couple of my bad days..ie larger % drawdown than it should have been. I realise that a max % stop of my capital would have been useful and saved me money independant of my thoughts on the position itself

foale,

I tend to use pips amount. I'm a bit uneasy if the obvious stop is more than 100 pips away from my entry level so I then tend to scale my position size down to restrict the financial loss.

I'm out of the market atm (can't bring myself to buy it up here) but, if I were in, I'd stay long with a stop at around 17920 being the rising support line passing from the low of Thursday through the low of yesterday morning (that would have been an ideal entry ...... I didn't have computers or broadband then unfortunately).

Thanks for that..very interesting

Could not resist a small short at 1.8050