Forex rebates on every trade - win or lose!

Edit: removed because of problems with the image.

Been a bit of an up and downer - made a fair few cable points yesterday but have been stubbornly holding on to some EUR/USD longs which have not been so good - currently well out of the money - need to get back above 1.1715 to break even ;(

I was beginning to feel as if I'd called it right earlier on but it's struck back down again ....... not at all confident - even though I'd got it bouncing off support around 1.1666 - late yesterday afternoon.

May cut my losses if it fails to stay above 1.1700

Thinking of doing a bit of FX trading - anybody use Finspreads for FX? How good are they? Any advise/recommendations gratefully accepted.

Lal

klal

If you are new to FX I suggest you get a CMC spreadbet account and start trading at a pound a point for a while. Technical analysis is vital with FX and for advice on that it is a case of DYOR. Earlier posts by hilary and other gurus will give good pointers.

Thanks Bobcolby. I already happen to have an a/c with Finspreads. Just didn't want to go thru the process of opening another a/c with another S/B company. But will have a look at CMC anyway...

mg,

I've got long term shorts on Euro everything atm except the Yen which I think is another accident waiting to happen. I don't think that there will even be a single European currency past another 4 years or so. Once Germany put the coffee on and take a whiff of the aroma, that'll be it.

Hils
I bottled out of EUR/USD earlier today - and glad I did - ended up down around net -120 points ;(( That wiped out yesterday's gains on cable - and some. But it could have been a great deal more !!!!

mg (ex-MoTU)

Whip saw alley at the moment. Have got a cable long running from an automatic entry at 1.7310 - which might make up for the crap EUR/USD long earlier on.

Had forgotten I'd got it to be honest - just came back to have a look and I've got a big smile on my face - it wasn't there earlier !!!!

mg (not totally ex-MoTU, by accident)

Hope you closed it for a good few, mg.

Forex - Sterling close to 2-yr lows vs dollar after BoE inflation report UPDATE

WASHINGTON, Nov 16 (Reuters) - U.S. consumer prices unexpectedly rose 0.2 percent in October despite a dip in energy prices as the cost of housing notched the largest increase in nearly five years, a government report showed on Wednesday.

Excluding food and energy costs, prices increased 0.2 percent, the Labor Department said, matching Wall Street expectations.

Economists had expected overall consumer prices to hold flat in October.

Over the past year, consumer prices have jumped 4.3 percent, but core inflation has remained relatively tame, up 2.1 percent over the same period.

After a surge in September following hurricanes Katrina and Rita, energy prices fell 0.2 percent in October. Gasoline prices, which hit an all-time high after Katrina, dropped 4.5 percent last month, the department said. But natural gas prices continued to climb, rising 14 percent.

Energy prices have climbed 29.5 percent over the past 12 months.

While energy costs edged back last month, the cost of housing surged and pushed overall consumer prices higher. Housing costs, which account for more than 40 percent of the consumer price index, rose 0.9 percent last month -- the largest gain since January 2001 when they climbed 1.3 percent, the department said.

Housing costs have jumped 3.9 percent over the past 12 months.

Other prices also rose in October. Food costs increased 0.3 percent while medical care prices rose 0.5 percent and the cost of services increased 0.7 percent, the Labor Department said.

In a separate report, the Labor Department said real average weekly earnings rose 0.4 percent in October, the first increase in four months and the largest one-month gain since July 2004.

Just got spooked out of a cable trade for +40, closed too early...GGGRRR, nerve not recovered yet, still a profit is always welcome...:-)

Finally reversed cable shorts at 1.7140.
Not hanging about if euro takes another shot at yesterday's low

Typical day for me, this morning I escaped overnight cable short for -0, VERY lucky..:-)
Followed that with a missed reverse, net -34...oops
Rounded of with a too late close of evening short for +5

Whatever next?

Forex - Dollar rallies as Chinese revaluation talk diminishes, oil price falls

Broke a golden rule and carried losing cable short overnight, closed for + 38, should have been more but still pleased...:-)

Not so pleased now, having figured I closed the short late, what in hell's name prompted me to go long??????
By definition if the short was late you have missed the long.........closed out of embarrassment..-30......beggars belief...:-((

Hils: You beat the Fairy to the draw this week . . . ;-)

Urgently in need of one positive cable trade this week to break my duck, with that in mind I have a cable short @ 224, and everything crossed that didn't fall off last time I waited so long for it to go positve!.........(never did...lol)

Always good to post when you have a point to make, and last night was no exception, and that's exactly what I made.....1 point, should have been 40 +, but sleep is sort of compulsory, and stop did the rest.
Most annoying is the fact that was my +ve trade for the week, 2 round trips today for net -35...oops

BoE's Barker says balance of risks to UK growth may be to the downside