Forex rebates on every trade - win or lose!

Yep - two in the bowl.
Followed Croc's rule that if it hesitates, get out - so I've taken 1. Sounds stupid but I'm getting a lot of little profits now. Am willing to wait for a determined run to start, and if it doesn't, I'm out. Working well for me.

Euro/Swissie moving more favourably than pound/yen for dollar shorts just now.
A brave being might short $ agaainst their preferred cross now, a less brave one may do it just? after probably already factored in FOMC but before Friday 1.30?

Well, before reading the above I managed to go short EUR/USD on charting grounds - from 13075 and 13080. Looking for at least 13040/50 to get back to it's late Tuesday evening position.

Bit of a new departure for me - don't normally stray from cable. We'll see

magg well done,
hod agree ob rate hike in the price but still wud not want to be shrt$

shrt cable @ 50 early. one......

covered half @ 40

whats this interest rate rise going to do to cable overnight

sold cable 1.8860

Jeff, me too for +10 but I've been watching it on and off all night. waste of time!

closed overnight cable short for +32, which was nice

Hi folks. Just a couple of questions before I join you with a punt (will be a week or two before I do anyway). Say I was going 1 a point on cable, what's my exposure? Around 18k? How much margin does this use up with cmc?

And which site shows the best charts to print off? I'm thinking of 1 day, 5 day and a few weeks charts. Need these charts to get a feel for it. Many thanks for your help - and special thanks Mos for all the stuff you keep sending.

mng jeff, bushs speech seems to have done very little cable same as yesterday it seems,nfp will be the key


seymour 1 pp s/b margin is 150 quid..
as for charts ..cmc`s are basic..

http://www.dailyfx.com/active_charts.html


or try above...

Well, yesterday proved to be be fruitful. Left my EUR/USD to limit stop out for +40 and +45. My cable short trigger was fired at 880 and that is still open for +35 so I'm looking to see whether to close that. And that was all whilst I was away from the screen doing day job type stuff.

Very pleased with myself. Good week so far. Must make sure I don't blow it with some stupid trades.

Economic calendar for 3rd Feb. 05

3 Feb. 05 00:30  Building Approvals (Australia)  Dec    -0.3%  3 Feb. 05 00:30  National Australia Bank Business Survey (Australia)  Q4      3 Feb. 05 06:45  CPI - MoM (Switzerland)  Jan    -0.2%  3 Feb. 05 07:15  Trade Balance (Switzerland)  Dec    1.3B  3 Feb. 05 08:45  ADACI/Reuters Services PMI (Italy)  Jan      3 Feb. 05 08:50  CDAF/Reuters Services PMI (France)  Jan      3 Feb. 05 08:55  BME/Reuters Services PMI (Germany)  Jan      3 Feb. 05 09:00  Services PMI (EU)  Jan      3 Feb. 05 09:00  Unemployment Rate (Norway)  Jan    3.6%  3 Feb. 05 09:30  Services PMI (UK)  Jan      3 Feb. 05 12:45  ECB Announces Interest Rates (EU)    2.00%  2.00%  3 Feb. 05 13:00  Unit Labor Costs (US)  Q4  1.8%  1.8%  3 Feb. 05 13:30  Weekly Initial Jobless Claims (US)  325K      3 Feb. 05 13:30  Nonfarm Productivity (US)  Q4  2.0%  1.8%  3 Feb. 05 15:00  Factory Orders (US)  Dec  0.7%  1.2%  3 Feb. 05 15:00  ISM Non-Manufacturing (US)  Jan  61.0  63.9  3 Feb. 05 15:30  Weekly EIA Natural Gas Storage Change (US)  Jan 28

MG, you will be thinking your good at this soon.. well done mate, your making some nice points.

mng Mos

yep mng mg sometimes the setting of enrtys and just walking away does work quite nicely.......

Mostrader, thanks. Well, I think I can afford a little more than 1pp but will have a go at this level just for starters. Thanks.

Jeff
Thanks BUT that's the danger - the MOTU effect (Master of the Universe). Hence the comment about not feeling "this is easy" - once I start to think that I usually begin to believe that the market must be wrong and I am right - illogocal, irrational - COSTLY !!

It's knowing when you are trading confidently as opposed to arrogantly. Bit like the difference between genius and madness ;)

seymour , to be honest dont worry abt the cost a 1pp is fine,just get a feel for it its sitting in a range @ mom
87 85 low for past few days support @ 8810/20 88 50 pivot res 8885/90 and behind 8917 just print a chart of and see how it moves..

try to think in terms of tics...ie ill try to make 10 tics a day and then once you make that just increase your stake,but 2 start 1pp is fine...
mos

any one else got a few tips for s.c

EUR/USD

Strong support is seen in the 1.305/10 area followed by 1.2983. Resistance starts at 1.3040 and is followed by 1.3070,
1.3095 and 1.3125. Keep an eye on the today events.
Current quote is 1.3022

Recommended trades:

Short at 1.3040/50, t/p @1.3, s/l @1.3070.

USD/JPY

The pair has breached the resistance key of 103.95 during the Asian session and we expect a rally above the second important
resistance level of 104.37. Current quote is 104.24

Recommended trades:

Long at 103.90/104 , t/p @104.65, s/l @103.85

EUR/JPY

A rally towards the first important resistance key at 136.11 is a possible scenario but after a small consolidation.
Current quote is 135.65.

Recommended trades:

Short at 136.05/10, t/p @135.75, s/l @136.30