Forex rebates on every trade - win or lose!

Well done on finding that little top, Beeb. My money's staying on the long tack for now. Diving in and out for a few pips here and a few pips there isn't really my style ....... I'm looking for a big move that I can stay in for typically 2 or 3 days and pyramid.

Agree with your style - i call it scaling in, but same.
Trading the 'small moves' (!) gives me confidence for the bigger ones.
Still kicking myself for missing 178.30 last week.
Basic trading pattern for now is if i do go short and it moves against me, i'm out, whereas on the long side i do take a bit more pain, fairly confident it'll come back eventually.
been trying the etrade package recently, and on the trial package found it easy to make 10k in a couple of days. now when i start using my real money...

Spaceman - we've found your 182.30, and it looks fairly solid

BB/H, this is my first proper play with USD, sentiment seems to be that the USD has further to fall and like BB I am happier with the long side however I am a small player and even at 1 per pip I find this volatility challenging!

Not very scientific i'm afraid, but there she goes again, 10.00
dithered at 182.30ish....

It's getting quite stuck in the range this morning.

I'm currently showing the top of the range as 1.8294. It needs a good kick to get through that and then a fresh round of buyers should enter the market. If it can't get through in the next hour or two, it looks like a move down to the bottom of the range at 1.8183 may be on the cards.

Looks to be up at the top of the range now and looking overbought. EUR/USD also struggling to put it on.

I've closed my long and think I'll stay out now till it breaks out of the range one way or the other. It wasn't what I was looking for when I entered the trade.

Coming away now. Let's see if it's got the ooooomph to take out the range support.

I know I said that I'd stay out, but I couldn't resist a short.

:o)

you're a girl ar'nt you,
mind you, i dont like the trade
good luck though

Beeb,

I've set a stop and I'm going to leave my screens and let it run. Worst case is that I'll give back the mornings gains to end the day flat.

Ttfn.

Just closed the short on USD/CAD giving a good gain today.

small long cable 181.99, stop in at 181.69

long cable/usd 18119 march stp 18067. Lets see what happens.

Just got blown out cable/usd. Now am long again with a vengence long open 18062 and with a wide stop in place. going to kill it this time.

rgds
zarif

Hilary - what tech indicators are you using to track Cable? When you say a 55-period oscillator on the 5-minute do you mean an MA or some other indicator?

Ta

dc,

I tend to use RSI and slow stochs as o/bought o/sold indicators. The most important thing though, imo, is trend identification and trading with the trend.

I seem to have mastered identifying the trend. It's trading with it, rather than against it, that I seem to have a problem with :-)

do any of the other forx combinations have name like the USD/GBP cable? I want to sound as though I know what I amtalking about in here ;-)

spaceman; just preface everything with 'concorde' and we'll know that it's a
Master Guru talking.....
but the answer is no.
going to try my 10.00 theory today, got the brown trousers on....

Trailing stop took me out of my Cable short a little while back. Just watching for the moment. The EUR/USD is up to resistance ..... want to see which way it goes first.

Well, I managed to pick the bottom at 1.8040. Unfortunately I sold it :-( Got a stop at 1.8140 (above the hourly support) and am expecting a rebound from 1.8100 where the 15-min chart should encounter the 55-period MA at about the same time that the 5-min MACD should be pressuring downwards. 5-min stochasic is pretty overbought ATM.

This TA stuff is easy - just wonder why I never seem to pay attention to it when placing trades.

Just read that the CBI data is better than expected, increasing the likelihood of a .25% rate hike in the UK next month, but that may be countered by the possibility of a defeat for the government on the top-up fees vote tonight.