Forex rebates on every trade - win or lose!

Hilary, Just me being slow I suspect, but given that FX is 24 hrs, where do you take your figures from?

5pm New York time, Seymour, is universally accepted as the standard.

Btw, I highlighted GBP/JPY in that example because it's had some recent moves which illustrated the technique well and because at some stage soon it should turn and embark upon a downleg.

The technique works on other pairs as well. Your post a couple of weeks back providing a link to a trader who offered courses prompted me to make the post. I watched his spiel and at the end of it he highlighted a 2600 pip move in Cable which ended last March with perfect ma crosses at the bottom and top of the move.

Edit: You don't need to restrict the technique to FX either. If you take a trending stock with a 10% margin requirement, enter towards the bottom of the channel and add 50% every time the position clears 5% profit. You do need to manage your money well though to avoid the margin calls if/when positions move against you.

Thanks Hilary. It certainly looks as if GPB/JPY will turn soon. Will watch hawklike!!

Thanks Hilary. Excellent posts . Will reveiw my FX strategies, (Again)

Hilary - the strategy you've outlined obviously works when there's a nice trend.

But how does such a strategy cope with periods such as Apr-Aug last year when the market was extremely choppy?

Piptrader,

Yes, it still worked - just not always as well. You still saw moves of between 300 and 500 pips over the course of a week or two.

The most important part of the strategy though is knowing which side of the market to be and why and where to have the stop and why. The most disconcerting aspect is having a stop which is too wide for most peoples nerves and especially in watching a 100 pip gain one day ebb away the following day.

Closed the lot at 19319
Blimey, that was some ride :)

Hmm...no plans for a longer term cable short yet

Does anyone know where to download eod FX prices (free!), both current and historical, so I can backtest some theories? Still intrigued by Hilary's suggested strategy. Quite happy to have a 100pt stop if it gets the result in the end.

Thanks Hilary. There don't seem to be many systems which can cope well with both types of market, so this is definitely worth looking at.

Interesting stuff on the /Yen cross. Any theories on ebbs and flows at different times of the year. I only ever traded this cross once, I was told at the end of July last year that this cross always goes down in August (I would need to review the exact reasons) which you can see it certainly did but I decided to get in early just before going on a long weekend, it was less than half a handful of points fortunately but with a very wide stop, well I was running a small profit on departure and only a tiny loss on return and the entry point still looked reasonable but then along came a blue candle of over 200 ticks and then a big upward intraday spike on a down day where I can still see my stop hit virtually at the top of the range. Of course it then dropped close on 1,000 ticks in a week and a half. Muppet trader probably but I would love to know any theories on catching close to turning points and also the relevance of different times of the year. I would need to check exactly why but I think into the end of March has significant relevance over there.

hodgins havnt really looked into stgyen but i think jap tax year ends march.. and they see repatriation of funds..

Free end of day prices on all manner of stuff from:

eoddata.com

You need to register with an email and there's only 4 weeks stuff available but still useful.

mng all usd still looking v weak...

Started a eur/jpy long this afternoon 13878 - taken profit 13931, but hanging in and adding. Scalped a few off cable longs this morning - but dug myself in again 19210.

Huge bond drop off- out of Europe, renewed yen strength-relative, Euro stays strong. Bonds drop should theoretically have sent dollar to the races. Wonder ir that shows significant dollar weakness ahead or TLT relief rally off 88 and dollar down meets somewhere halfway?

Evening all.... Has anyone been watching /Yen today? After Hilary's ex. post yest. have taken an initial short with small stake and wide stop, may be jumping the gun but prepaired to give it a try, looks to have topped and MACD rolling over.

$/CAD is not a pretty sight - but there are some lovely movements in there, using 1 minute chart. :)

great call on /Yen to anyone who got short yesterday. I know it is volatile but definitely worth watching

Missed it today! Looking for more retrace then.
Thanks Hils.