Forex rebates on every trade - win or lose!

Pulled the short on that bounce - out for +40 though - so no pain no gain ;)

Long from 18830
[EDIT - Mr. Whippy time - probably should be sitting on my hands - think it might be MOTU effect - must make sure I don't stay in much longer]

Morning. Closed cable long for +10 last night (thank God) Still small stakes, but feel I'm getting the feel for it.

Closed the long for +40 - maybe I am the MOTU ;)

mg..well done mate....

Maybe not - could have had another 30 points out of that - BUT I am a Cautious Charlie ;)

Thanks mos.

shrt 89.00

mg it all counts...theres always always going to be another oppertunity..

Well, I know I shouldn't but EUR/USD seemed to be lagging a bit so I'm now long from 13025

[EDIT - is this my Waterloo - or should that be Portaloo ?]

true mg..ive jobbed the cabel covered sme @ 88 and 90 leaves me shrt ave 8921..so ill sit with that and see

Seymour

One thing you must be very disciplned with on forex although you probably realise this already is stops, there can be some very large and very sudden moves for no obvious reason. It often trots along in a 20/30 point range giving you lots of oppourtunities for 10/15 point scalps so you dont bother with stops as you think well Im only scalping and all of a sudden you can be 100 points to the wrong side. I know because it happened to me many times when I started with forex.
BTW I use CMC spreadbet and find them much better for forex than I did for trading stocks

dav agree mate stops essential and be prepeared to lose money that hwat they are there for...

dav/mos
Couldn't agree more on stops - they're even more important (IMHO) than when trading stocks. However, I would add that - again IMHO - setting of limits is crucial. You only need to look at the movement of /$ this morning to see that. If you'de set a limit at, say, 900 you would have locked in around 20 more points than where it is now. If you still think those points are there to be had get back in at the lower price - adjust your stop and limit and bobcolby's your uncle.

Speaking of which I must remember to remind Scrip and pin about that Golf game ;)

Seymour

OCO (one cancels the other) is easy to use on CMC. You can use it instead of your brain. MG is the expert.

MG. Golf in diary. I am on Scrips betfair course in London in a few weeks and can remind him then, if you have not made contact. Not doing much FX at the moment.

I miss Hilarys psychic powers :)

I've been having too many crashes this week for comfort - off to the knackers yard if I can't get it sorted.

Well done, jamMy Git :))

what the pc..i hope choco..keeps going down on you..?

I wouldn't have thought you were ready for the knacker's yard yet choco... Perhaps a new hairdo?

:-)

Choccie

When in doubt, chuck it out

What d'you reckon, K - a nice new perm?
Too right, Bobbieboy..
...sod off, mos

:)

mos
Naughty, naughty ;)

Bob
I think I'll send 'em an email whilst I'm thinking about it.

Seymour
Would highly recommend you consider OCOs - especially if you can't/don't want to screen watch. It then comes down to picking the high/low that suits your analysis of recent moves. Personally, I go for 100 pips between them.

HILARY/ALL
I wouldn't want any one thinking that I'm doing well off my own bat. Hilary persuaded me to stick around when I was all for jacking in my FX trading - I just didn't seem to be getting my head around it. She suggested a strategy which I've adapted to my own style/level of risk so I seriously owe Hilary a large drink of something or other ;)