Forex rebates on every trade - win or lose!

Thanks, Hilary. Never looked at a Parabolic SAR, but am looking at it on the cmc 5-minute chart. The explanation is very understandable - at my age they need to be simple. I admit I have hardly ever used anything except a bare chart, what little news I understand, and copious amounts of luck. But whatever works...

mg. Ah - happy memories of Snet'sam, walking along the beach in wild winter Nor'-Easters, hand-in-hand with young (frozen) ladies. And Sheringham is still a little gem - hordes of locals retire there. Great bird-watching country as well. We often drive to the coast along here. I used to fish a fair bit in the sea along here, but fish stocks are so low it's fairly pointless now.

They can be very good for getting you out of winning trades at around the right time, but in a ranging market the whipsaws can seriously damage your wealth. They should be used with caution, imo.

Well, they worked perfectly on Euro/Dollar, Hilary. Very impressed; stopped out -12. I have also put it on the Cable chart and that's equally good. Nothing open at the moment, but they both look reasonable shorts.

edit. Opened a short at 1.2173 in the end - doing nicely.

edit. Stopped out at 44 for +29. And strangely enough that's just where the price meets the parabolic curve.

Maggot,

Well done.

If it's any help, I actually run 2 separate Parabolic SAR's at different steps. This is because they sometimes crossover and when one takes you out of a trade, the other SAR, combined with other indicators, often says to stay in. More often than not, they are both at around the same level when it really is time to kiss the trade goodbye.

edit: For instance as I type, 1 SAR on cable and 1 SAR on EUR/USD says exit the short trade, but the other SAR says to stay short in each of the trades. I then look at the respective 1 minute charts which both say to stay short, so short it is for now with a bit of caution.

2nd edit: 16:43 and both SAR's in both trades say that it's time to go.

I see. In fact my stop was false - it turned immediately. Will have a good look at the system you describe. Thanks.

Hils
Just got back from a spot of Golf, doncha know. Wish I'd gone short when I closed my long ;(

Interested in the SAR settings - which do you use?

mg,

The settings are stored on my other PC which won't be used now until Monday. I can mail them to you then if you wish.

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Hils
Yes please
mg

mg,

I've sent you those settings.

I'm not sure who Swiss Frank is btw. I think he might sell Emmental from a deli on the Bayswater Road.

Manky Shins
Thanks

BTW - Swiss Frank is Swiss Tony's Dad - he's on the Bayswater Road but sells bells and whistles !!

mg X1V (What happened to the Lira?)

PS Not so sure about the "Pound Stops Selling" - been looking for a long entry without success.....

mg,

Do you see what I mean about not using SAR's alone?

For instance, Cable was a no-brainer short at 7am. You would, however, have been whipsawed out several times for a loss had you used SAR's in a non-trending market. Once the trade moved into profit and picked up a bit of momentum with the trend after about 9am, then it was safe to employ the SAR's. Only now is it starting look as though the end might be nigh.

edit: And out as I typed.

You really are a star - nice trading.

For my sins I went long just after 12:00. Using the SAR settings I may well be just about to exit for around 25.

More tools in the armoury - and as I learn to be more disciplined. Tend to be a bit of a Gung Ho trader - can work sometimes but often gets me in trouble ;(

Out as I type.

NEW YORK (AFX) - The dollar was higher against the euro, but lower against the yen, Tuesday after weaker-than-expected May retail sales and producer price reports were attributed to a short-lived decline in oil and gas prices.

In afternoon trade the euro was down 0.5% at $1.2050 and the dollar down 0.2% at 109.31 yen.

The Labor Department reported that producer prices dropped 0.6% in May, the largest drop in more than two years.

Excluding food and energy costs, the core PPI rose 0.1%. Economists were expecting the PPI to fall 0.2% and the core rate to rise 0.2%.

Separately, the Commerce Department said U.S. retail sales fell by a weaker-than-expected 0.5% in May.

The dollar initially weakened against the euro after the soft data reports, but later regained strength as investors realized the weakness in both reports was due mainly to the lower oil and gas prices seen last month.

Both commodities have been trending higher in June, and revisions to the PPI are likely, analysts said.

The dollar's strength against the yen also was linked to an assertion by former Federal Reserve Vice Chairman Alan Blinder that he would be surprised if the Fed stopped raising the Fed funds right before it reached 4%, they said.

The euro's weakness was compounded by pessimistic remarks about the eurozone from German monetary officials.

Caio Koch-Weser, Secretary of State to the German Ministry of Finance, said there is considerable uncertainty over the pace of the eurozone recovery, according to Action Economics.

Koch-Weser also said gradual improvements in the labor market have come to a halt and that there is no sign yet of significant strengthening of domestic demand and consumption

A rise in crude futures pressured the yen overnight. While more expensive energy would also take a toll on the U.S. economy, Japan is seen as more vulnerable to a downturn in global demand. Therefore, higher oil prices tend to push down the Japanese currency.

July-dated crude was last trading down 0.7% at $55.25 a barrel on the New York Mercantile Exchange, after climbing back over the $55 a barrel level on Monday.



This story was supplied by MarketWatch. For further information see www.marketwatch.com.

Wanting to do a bit of real Forex - got quoted 69.44p to the Euro as a special offer in Thomas Cook - 1000 gives you (arghh - no Euro key on my keyboard) 1440 Euros. Doesn't look too good from where I'm standing but then that's the high street - does anyone know where the best holiday money can be obtained? Looking for 1000 worth.

edit, having checked, I suppose it's not too bad. Trying to see if I can do better - I'd normally stick most on my credit card whilst we're away but have to pay cash for the accommodation.

edit #2 - starting to look like a very good deal - just wish I could get 1.5 Euros to the .

Seymour. For what it's worth I opened a Euro acount with Barclays. If you deposit 25,000 or more at a time they will give you a sort of 'spot' rate, linked to the rate at that moment. When I did it, it was a good rate compared with that running at the time (they give you a number to ring, day or night). They also gave a decent rate for smaller deposits - better than that quoted by Barclays at the time (at least when I did it 18 months ago), but that's only in working hours I think.

SC, Ctrl-Alt-4 :-)

Thanks Kayak - was wondering what you were on about for a minute! It works!!!

Maggot - I only want my holiday money. Will see what NatWest will offer me as they're always wanting to make contact and sell me new products etc.

Is it not easier to just use plastic abroad, SC? Either to pay a merchant direct or to make a cash withdrawal through a hole in the wall.