Forex rebates on every trade - win or lose!

This is what I was looking at this morning.
Short cable at 1.8080



and waited forever for 1.8020 to go. But it has :))

Time to redraw the down slopey thingies.

Edit: interestingly it bounced straight off the old resistance trendline.

chocolat,
Thank you for the chart, wish I had spotted that condition, instead spent the day grinding out 2 X 10 points (1 short & 1 long) to recover from my lack of observation.
End result, +4 on the day, should have been much more..:-(

Stopped out of my EUR/GBP long -13 whilst away camping on Friday after I raised my stop - would now be back in profit :-(

Forex - Dollar drifts higher ahead of US data and oil prices come off highs

Forex - Dollar near 3-week euro highs after solid US confidence data

Bingo!
1.7820 straight off the lower support line.
I'm going home now :)

House

chocolat,

Another great call, well done..:-))

Closed a paper money EUR/GBP long +25 (6822 to 6847) on that little kick up this morning. Now to do the same with real money, looking for another EUR/GBP long entry.

Edit now long 68.42

SC. Eur/GBP needs real patience, as it doesn't move as much as the others. If you're still in, I see you're in profit, but I think I would have bottled out before now! I started out on FX trading it, and it was quite nice because at that time it had a beautiful range of about 40 points for weeks and weeks. Of course the minute I started, that all altered!!!

Took a quick 17 on a Euro/$ this morning, but a lot of whipsawing now on this and cable.

Agree Maggot, that's why I like it, small movements, however down a little now. The main thing was that I set my stop too tight last week - 25 points whereas 50 would have been better.

Forex - Dollar drifts higher even as oil prices dominate headlines

The whipsaw on cable and EUR/GBP is because we had GDP figures earlier
UK govt budget deficit breaches EU stability pact for 2nd year running

Re cable imo anything close to 1.78 and 1.79 should be good for a few points today.

Thanks Choccie, wasn't aware of that!

Sorry SC, that post should have read 'as well as consumer confidence stuff' - too many distractions here today.
Anyway, waited in vain for 1.78 but jumped in long (after a misjudged short oops) as it scaled through 1.79. Closed it just now while I clear the desk and clear off for a few days.

Well it's a good couple of days for the pound.

didn't do 1.8170. So next upside to 835 or back to 7980/79 and beyond

I'm off to the states soon so I hope it the greenback weekens

hilary - 22 Aug 2005 20:29 - 4317 of 4398
I think that you guys should be selling the Dollar like it were going out of fashion right now. But wdik.

The timing might have been a touch out but I'm still here and adding to those greenback shorts.

:o)

Hilary, I wrote those very words in my trading book that day and noted that cable was at 18004. Finally went long today and v. happy with the result. Still learning fx, so don't yet hold positions for long, but getting braver! H

Helen,

I'll be surprised if you don't see around 1.86 or 1.87 at some stage over the next week or two. Time will tell.