Forex rebates on every trade - win or lose!

Stopped out of my short at 1.8140. Gone long at 1.8145, waiting to see if it'll break through the 50% retracement at 1.8162

Well, it didn't make it at the first push and I stopped out back at my entry point, but now back in long at 1.8172 with the 50% fib retracement at 1.8162 for support and looking to get to 1.8196 which is the next fib level.

Price also buoyed by news of another 30 rebels switching over to support the government in tonight's vote and US consumer confidence figures lower not as good as expected.

dc,

It's just my opinion, but you've got to have the patience to let the long on the resistance break run. I know it's overbought and it could pullback at any time, etc, etc, but breakouts can often be good for several hundred pips if you've got the nerves to run them. It'll be Sods Law that this one pulls back about two minutes after this post.

:o)

He who dares, Rodney.

well one quick buy play with cable (do I sound as though I know what I am talking about?) and managed to lose 13 points, pretty good ;-) on a day when its been up all day! stops seem hard in this game, I hate ignoring my stpos but I would have been fine had I let it run for almost any period of time longer than I did. Another lesson learned.

dclinton thanks for the data info.

perzacaly so Spaceman - look at my trade earlier, stopped out @180.69 for
+22, when if i'd let it run, i'd have made 222.
All i'm really upset about is losing my 'Guru' badge.....back to you Hilly baby
have a good night all, and c u tommorow

p.s. dclinton - hope you ran it..

long open 18062 cable/usd yesterday closed today at 18225 for 163 points.
Also am short USD/CAD from yesterday and am locking the profits

well with a 3 cent rise in cable over the past 24 hrs, the 10.00 theory
will be in for quite a test today - it looks overbought to me

Not yet, Beebs.

Stupid woman!! I've just pressed sell to close instead of buy to add.

:o(

;o(

post 243 - spot on, if you'll pardon the pun

as for post 244 - we all do it sometime, at least you've admitted it !

so do tell, where is the top according to the re-instated Mistress Guru ?

No idea, Beebs. I'm not a subscriber to Elliot, Fibonacci or any of the other patternmeisters ...... you could burn them all at the stake as far as I'm concerned.

My strategy is simple. Identify a trend according to whatever indicators suit you best and then trade with it (rather than against it) for as long as it's maintained. You've got to be in it to win it.

Hilary - yes, patience is definitely the key. Trouble is, I've taken so many hits on Cable in the past weeks that I'm very jumpy and placing stops a bit too close. The volatility makes it very difficult.

Still, managed to wait for the breakthrough above 1.8916 yesterday and take 80 points or so on a long in the late afternoon which helped recoup my losses.

I'm still very much a learner at this trading business and one of my problems is still to open trades too impulsively ("if you're not in it you can't win it"). When I sit back and take the time I have a much better success rate.

I'm just starting to use the Fib retracements and they are surprisingly indiciative. Yesterday several times the price moved back to a fib level and paused there for some time.

looks like they've forgotten to flip the switch today....
10.00 = 183.07, where i'm long

It's a bit dithery this morning, it's true. Waiting for a move above 1.8330 (the morning's top) before considering a long. It's just as likely to bounce from there. There's clear air above there to Friday's open at 1.8441 and Friday's high of 1.8523.

dclinton; my thoughts too, approaching 10.30, but still just positive
enough to move the stop to 182.96

keeps bouncing off your 183.30 dc
maybe third time lucky ?

Well, there are some nice postive trend lines forming an upward channel and the moving averages look good.

There goes a possible breakout. Gone long at 1.8338.

well the theory still intact, though it looks more like
someone moved the selector to buy , rather than sell $,
though the euro is trying a little more now.
clean pair of heals now to 183.80 dc ?