Forex rebates on every trade - win or lose!

Bugger

Anyone using CMC s/b - I'm just getting orders hanging - usually they fill immediately

Apparently tehy had a fire alarm & now the dealers are back in!!

Cable a bit boring this morning. Managed a few points on a short earlier and now sitting with -10 points on another mis-timed short.

Only around until lunchtime so it looks as if it's probably a net flat day for me.

Trade well - if there's anyone around ;)

Euro & Swissie look to me like they've been trying to mount a rally -v- USD these past 24 hours, mg, but they're being held back by sterling which is suffering from Rightmove yesterday and RICS today. In line CPI and RPI just released might see it start to push a bit higher soon.

hils
Stopped out of my short positions as it nudged up. Net flat for the day. Must kerb my tendency to fight the indicators. I'm a bugger for sticking to the rules ;(

Trade well for the rest of the day - I'm off to get myself sorted for my trip oooop north.

mg,
I follow my indicators assiduously, and nearly always lose money as they are not right yet.
I therefore propose a swap, I follow your good ones, and make money, you go against my bad ones and rake it in also....whadya say??.....lol

Regards

SC

Keep looking at this thread for inspiration, but everyone seems to have died. The main FX charts look pretty trendless to me and apart from a couple of quick (losing bets) I've kept out of FX - is anyone making money at the moment?

no! was completely the wrong way round - gave back all my gains! again!

I'm still here, Maggot, but seldom talk shop and would prefer instead to chat about Crazy Frogs.

If you wish to know my views on the currency markets, however, I would suggest that you sell the greenback pretty much across the board today and take a relaxed view with a stop loss on the Dollar highs of yesterday eg Cable 1.8231, Euro 1.2533, Swissie 1.2359, Yen 108.30. Then stick a slowish sma on the 1 hour chart and, if or when it moves into a new trend and the Dollar moves below the sma, you can slide your stop loss to pick up the sma. Also stick some buy orders above those Dollar highs so that you can pick up any fresh break high.

Once you've done that you can go for a swim or go to the gym or take in some retail therapy because life's too short and too much fun to be watching silly price ticks on a screen all day.

Good luck.

:o)

Thanks, Hilary. Actually I'm fishing today - as you say, life's too short to be stuck in front of a screen all day. I see your son is into technology, with his ringtone business. The abacus still confuses me!

I just had a good trade on cable with cmc S/B I had a 10 oco and the stop was triggered at 2.0000. a nice 17K profit. Unfortunately it was a mistake, the stop was actually at 1.8301, a profit of 150.

On the chat line to dealers I said there may have been a mistake on my order.(Before I was tempted to spend it!). The mistake was corrected within a minute of my note and, in recognition of my honesty, a half an hour has gone by and the dealers have not yet acknowledged my message. next time they can sort out thier own problems.

CMC have suspended trading on cable s/b. They say phone to trade on certain prices

Bob:

Sounds like cmc may have what we professional software engineers call a "stylistic inelegance in the code" of their on-line application.

Fun and games with the Euro this morning with referendum apathy heading into the weekend.

And cable's following behind...nice.

Euro and cable once again a doddle.
All ears will be on what Trichet has to say this evening.

Choccy,what time is Mr T saying things tonight ????


Mega...

Here you go, Mega..

Monday, 30 May 2005
Board member: Jean-Claude Trichet
Event: Keynote speech delivered by the President on Challenges and perspectives of the European Economy at The Conference of Montreal in Montreal, Canada.
Time: 1:20 p.m. local time / 7:20 p.m. ECB time (C.E.T.)
Venue: Hotel Hilton Montreal Bonaventure
Contact number: Richard Vigneault, The Conference of Montreal, Telephone: +1-514-497-1385
Text: The text will be made available on the ECB's website after delivery.
Last modified: 27 May 2005, 11 AM ECB time (C.E.T.)

ECB's Trichet says Europe 'facing difficult moment' after French no vote UPDATE
AFX


(Updating with comments on need to press on with economic reforms, slow pace of growth)

FRANKFURT (AFX) - European Central Bank president Jean-Claude Trichet said Europe is facing a difficult situation following France's rejection of the EU constitution in a referendum yesterday and ahead of the Netherlands' vote on the constitution on Wednesday.

'After the French referendum and before the Dutch referendum, we are facing today a difficult moment for Europe,' Trichet said in a speech delivered at an economic forum in Montreal.

But he said he expects the EU to find a way of resolving the problem of getting the constitution ratified.

'I am sure that Europeans will together find the way allowing them to overcome present difficulties as they did it in the past,' he said.

And he emphasised the ECB will continue to 'preserve tomorrow, as it did in the past, price stability and confidence in the currency, which are necessary conditions to sustainable growth and job creation'.

He also said there can be 'no doubt' that the increasing cost of raw materials, especially oil, has led to 'increasing uncertainty over economic prospects' and that it 'continues to loom as a risk of far from secondary importance'.

He said euro zone growth has been modest since the second half of 2004 and economic dynamism requires 'further stimulation', notably through more structural reforms.

'The lack of sufficient structural reform in Europe is, in my view, the main cause of the gap in economic growth between Europe and the United States that we have seen over the past few years,' he said.

'If we are to impart a fresh thrust to Europes growth potential and to help boost consumer and business confidence, we need to work on the European economy's most crucial underlying weaknesses and to implement basic reforms,' he added.

Healthy public finances are also crucial, he said.

Trichet said the new version of the EU's stability and growth pact has to be implemented 'in a stringent manner', as it is 'essential from the standpoint of the Economic and Monetary Union's cohesion'.

He said the pact is 'one of the keystones of confidence in Europe's economic stability, thus one of the keystones of investment and growth'.

And in implementing the pact, he said it is 'necessary to work with determination on budget consolidation and on bringing down the public debt in order to take on the challenge of an ageing population and to safeguard the credibility of the European budgetary framework'.

maria.sheahan@afxnews.com

ms/ma/sw