Forex rebates on every trade - win or lose!

Still here foale :)
Stopped trading fx before Christmas and only got back in again last Friday with a cable long in the morning and a reversal in the evening, which I closed Monday morning. Too much going on at the moment to apply myself.

Like the header Hils :)

Long cable 17645

one side of the 1 hour bollie to the other

And I paper shorted @ 17706 :-0

1 a point until I know what I'm doing now.

1 pp the way to go with FX at the beginning...

SC,mail received !!!!

Added 17614

Trichet says Dec ECB rate hike 'warranted'; monitoring risks 'very closely'

Closed second lot -20

And first lot - lots more. Looking forward to the bend at the end.

I knew that would happen, and I wouldn't be in :-( Would now be +50 and +80

I am finding FX very hard to read at the moment...
after a clear trend ...easy to get into the mentality of
trend trading...then get whipsawed when it range trades

Got burnt this morning when the CPI figs came out, ouch!

Divetime,it is always good idea to take a look at the calendar at the top of the thread or better print it off and if you trade say cable,then all you do is check that there is no data coming out on that day with a GBP beside it.News like that can and will move it as you have found out.

Sorry to hear the news with a OUCH :-(

Mega...

Mega,

forgive my ignorance but I therefore presume it is not a good idea to hold positions overnight or before 9.30am when most of the news seems to come out?

Harlosh,

I personally don't have a problem with holding overnight nor with entering the market before 9:30am. The business of holding overnight is very much down to the type of trader you are though. I presume that you're aware of the carry costs????

There are often some decent moves to be had between 7am and 8am and it is within this period that I believe the direction is set for the rest of the session. Fwiw, Cable and Fiber both had pretty good sell signals this morning shortly after 9am and ahead of the CPI.

I'm also going to have another play around with the header to stick in some links to some good articles on each currency. The articles are updated daily.

Bernanke to deliver monetary policy to Congress on Feb. 15

Hilary,

Many thanks. I appreciate it.

Bloody Lorenzo Bini Smaghi!!! 'Twas all going ticketyboo today till he got involved.

What a name though ;)