Forex rebates on every trade - win or lose!

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.

I might have the courage to stay in this time then! Still find it a bit scary, but definitely getting the hang of it. H

Helen,

I covered those dollar shorts this am.

I closed my long cable for +95, then went short for a few more. Small beer compared to you, but think I'm getting the feel for it and for me it beats trying to second guess movements on shares for +2! (or in my case, usually -15!)

Has the Fairy had a lay-in this weekend?

Just testing, Hil, just testing ;-)

Oh, you are awake then.

:o)

I'm hoping for around another 75 pips long on the Dollar atm. Currently targetting 1.2250 on the Euro (will reverse above circa 1.2470) and 1.2630 on the Swissie (will reverse below circa 1.2420). No real target on cable as my projection (around 1.80) is probably unrealistic and unattainable. We'll see.

Not quite reached my targets, but I'm out of my Dollar longs now and flat. The dollar will have to fall a bit from here before I start shorting it.

Hilary, thanks for yesterday's post. I was short the $ (obviously not reading the chart right!) tightened my stop and then closed flat - didn't want to be going in the opposite direction to you! Waiting now for clearer direction. H

Helen,

If you call up a chart for EUR/USD and USD/CHF going back to July, you'll be a able to draw a line of resistance for the Dollar. It's close to that line now and, whilst I'm not saying that it won't break the line, I suspect there'll be a fair few punters selling the Dollar on or around it.