Forex rebates on every trade - win or lose!

mg taken sme profit@ 43 got a stop on balance @ entry, not 100 % on this one

stopped out,eurusd going thru 31.

shrt stg @ 53 stops on

Having a torrid time on Cable. Put on a long last night with stop at 632 - and it went down to 625. My main problem always seems to be setting stops too close. Think I need money management lessons! Currently long Cable 1.8722, just raised my stop to 38.

fyg my stops @80 bit wide but had a decent start,so stick with my gut feel

maggot
What you setting your stops at, personally I dont have a set number I just look at some of the levels on the chart. We always remember when your stop get hit then it takes off, but not when it protects you against a bigger loss

Morning all, two trades this morning 1 loss 1 win, now flat waiting for 09.30

right small loss taken there sq ahead of figs, maggott stops are a persnnal thing iam with jm,i normally set stops near but not on chart points nad once set they stay on.... some people set tics i.e 20/30 tics away depends on you appraoch to money managment,id rather be wrong for small hit`s.
knowing you have plenty of time to get it back..what happened to you this morning is frustrating but it happens to us all,even the big players....just goes with the territory...

as expected uk.figs...

European Trading Preview - Dollar on the verge of breakout

Dollar was rangbound overnight locked in tight ranges versus europeans ,slightly stronger against japanese currency .Upcoming european session will see pubication of following data out of Europe :Germany PPI ,UK labour market data Market attention however will focus on data out of US published in the afternoon (CPI ,Jobless claims,housing starts )

EURUSD -rate was stuck in narrow range of 3010-3040 overnight .Bids are seen on approach to 3000 more at 2970 with stops below 2990 and 2950 .Offers are seen at 3040,3080 and above the market at 3120.Rate is still in short term downtrend while holds below distant 3120/3230 level.targeting 2950/2845 .Recent declines reached an exhaustion point located near 3010-20 allowing rate to recover some losses however we must confess that recovery was not impressive as so far .Failed attempts to crack psychological support at 3000 strenghten its importance building base for the rebound or giving interesrting possibilities to trade on the breakout We stand aside awaiting market developments to define the direction Preffered Strategy:POSS LONG*/STAND ASIDE



USDJPY -rate rose slightly on Tsunami warnings in the Izu District 120 km away from the center of Tokyo .Rate along with EURJPY found strong floor ahead of 102,00 allowing rate to recover almost half of yesterdays lossess Rate lost significant part of its corrective bullish momentum and needs to break above 102,85/103,05 to avoid scenario of lower top and test of recent lows at 101,60 .Rate shaped H&S pattern with neckline at 102,50 (already broken) yesterday.Rate may bounce back towards broken neckline where should rebound should stall :Our yesterdays strategy was correct Rate found strong resistance in 103 area allowing rate to come back to 102,20/102,00 Preffered Strategy: SELL UPTICKS


GBPUSD -rate is wildly oscillating in wide range of 1,8600-1,8740.Rate is locked in range between 100h moving average /tech resisitance at 1,8760 and broken resisstance at 1,8620 .dynamics of yesterdays rebound was so high that momentum is mixed at the moment not allowing to define market direction for the moment :POSS LONG*/STAND ASIDE

USDCHF -rate still locked in range of 1620-1900 unable to break out .Rate formed another higher low at 1800 kepping bulls hopes for a clean break of strong resisitance zone at 1900/1910 alive .Rate seems to gather steam for a serious assault on a/m resistance zone but unless rate breaks above risk of selloff towards lower boundary of recent range is high :STAND ASIDE AWAIT BREAKOUT

Thanks for your comments on stops. I tends to set just away from the last obvious turn, but it so often seems to spike through that then straight back!

Closed Cable long at 62 for +40 because I had to leave the screen; would have had more if I'd left it - of course!

I miss Hilary.

No trades for me today, having trouble getting connected to CMC

jm..flat waitng for cpi....

blue mate u can post on either ,but this is main fx thread.

DAILY RECOMMENDED FOREX TRADE
Wednesday, January 19, 2005 11:22 GMT
Daily Report
By FortKnox Trading
http://www.fortknoxtrading.com


USD / CAD
USDCAD is aiming 1.2300 level today so buy to a dip to 1.2175 level is suggested. Its RSI is around 50 suggesting that it is range bounded as it was for the couple of weeks and might continue its range trading through this week as well. Couple of Canadian data today and they might give USDCAD some volatility.

Recommendation:
Buy USDCAD at 1.2175 with 40 pips stop (1.2135) and take profit at 80 pips (1.2215).

Got a limit sell in at 1.3095 on EUR/USD.

ok
cpi out @ 1.30 jm

Short EUR/USD at 1.3085, stop at 1.3105

mostrader, thanks thought the other the thread was the new fx thread had the wrong glasses on

stopped for -20 on EUR/USD