Forex rebates on every trade - win or lose!

are we going to get a pull back on cable before a march foward to 176?

Divetime - thats priveleged information

Goforit that was not what I wanted to hear.Well I am still long.

Closed yesterday afternoon's long earlier for +110. Still in with another long from this morning but thinking of reversing soon.

Well done chocolate,good trading

nice one c. also watching 4 a reversal.also watchin $ yen 4 same

Nah - it's the wotsits.
And cable's still got legs :)

Short at @25 all crossed

Out at 1.7520 for +76.
Going to leave it now until initial jobless later

short 1.7536

Back long again ... see what happens :S

Hi all....just an update on DMA for BPH6 have added it to my IB account and they
charge 3.50 a round turn so giving it a try. I know i'll get the price on the book now, no more requotes.

see u on the book :0)

Gausie....lol, as long as its not the opposite side. Spred only 1 most of the time.

David Walton speaking at 18:30. Not on the calendar.

Cloud - thats why I trade it!

Spread is usually either 1 or 2. Cost of round trip is way cheaper than any FX deal I've been able to negotiate.

Reference price varies according to how far into the contract you are. Currently it trades at between 2 and 2.5 points above the forex rate. Any more or less and you get an opportunity for a free arb!

I'm expecting to sell my business within the next 3 months, and then intend to become a full time futs trader.

Practicing at the moment, at least 2 hours a day with sensible targets, small stakes (maximum exposure 10 contracts), proper accounts/bookeeping and with all due discipline.

Been trading BPH6 every day for the last week now. Four winning days and one loser. The four winning days each returned a profit of between 4.1% of pot and 12.6% (yesterday). Losing day cost me 1.82%.

Gausie.......nice trading, if you can keep that up you've cracked it.

Sound like you are i the same boat as i was 3yrs ago, closed my business and just
working part time now to relieve the stress of trading.

Its taken me nearly 5yrs, all told, to crack this trading lark but fairly confident now.
As my main trading is Mini Dow(YM) and E- mini S&P (ES) the currencies fit
nicely into morning trading and hopefully help to build the pot.

Are you going to set up business outside UK? will understand if you don't want to answer that on here.

Back to the BPH6, nice pennant on the hourly to keep an eye on.

It's good to see a lot more interest in this thread these last few days. Some of this might be of use to some.

[05:42 GMT Feb 22nd] Smattering of nearby option expirations in a number of
pairs. See See 2369 for details. (hi)





[05:41 GMT Feb 22nd] [EUR/JPY] stops noted from as high as 139.30-35, large
below 139.25, 139.00. (hi)





[05:40 GMT Feb 22nd] [USD/JPY] stops tripped on break below 116.70-80 support.
Very large selling by an U.S. investment bank early at 117.10-20, provided
fodder for subsequent move down to 116.42. Talk light 116.50 option barriers
taken out. More at 116.00. Plenty of option strikes between 116.00-50, gamma
buys supportive. (hi)





[05:37 GMT Feb 22nd] [EUR/JPY], [CHF/JPY] and [GBP/JPY] (to a smaller extent)
sold by a variety of funds including models, momentum and hedge. Some paring
short JPY positions, shorter-term funds riding wave down. (hi)





[05:35 GMT Feb 22nd] Talk of central bank [EUR/USD] bids-offers both sides of
1.1900. Bids look to have won out for now. More offers up around 1.1970-75.
Standing bids below towards 1.1850. (hi)





[05:33 GMT Feb 22nd] [AUD/JPY] sees some JPY short-covering early, down from
86.50/55 to 86.00. Stops hit on break below 86.40, 61.8% Fibo retracement of
84.55-89.40. Model and momentum fund sales reported. (hi)





[05:31 GMT Feb 22nd] Standing [AUD/USD] offers above between 0.7425-40, bids way
down at 0.7340-50. (hi)





[05:29 GMT Feb 22nd] Talk of large [NZD/JPY] stops below 77.00. Cross dips to
0.7705 but local bargain hunters and demand from an U.S. securities house
results in bounce. (hi)





[05:27 GMT Feb 22nd] [NZD/USD] supported by generally weak USD, short covering,
up from 0.6609 to 0.6636. Offers seen thick 0.6650-70. (hi)

08:40 EUR/USD: Little Faith In EUR Despite Durable Talk] London, Feb 24. There
is little faith in the EUR in the market this morning despite the talk of a
worse than expected US Durable Goods release later today. Longs have been seen
cutting trades and this has helped push [EUR/USD] back to a fresh intraday low
at 1.1891. The current consensus release for the US data is for a drop of 1% but
speculation already doing the rounds suggests that players are preparing for a
much worse reading, -2.5% the worst number to pass this desk.
On the options front, there are still barriers on the downside in play at
1.1840, 1.1825 and 1.1800 should the Dollar manage to elicit further support
intraday.
In other news, a UK Clearer has this morning upped their forecast for the top in
Fed Funds from 4.75% to 5.5%, depending on data, following the comments
yesterday from the Fed"s Fisher. They suggest new FOMC Chairman, Ben Bernanke,
will open his reign with a hike and they expect to see a further two hikes of
25bp before the summit is reached, they point to June and August as the most
likely dates.

[08:47 USD/JPY: Moves Higher After Good Japanese Demand] London, February 24.
USD/JPY posted a modest rally from the 116.55/60 area to recapture 117.00 amid
aggressive Japanese name demand out of Tokyo. Japanese accounts were good buyers
of USD/JPY and EUR/JPY catching the market a little short. USD/JPY failed to
assert itself on the 116.43 Asian low printed early on in the Tokyo session and
the market favoured short covering.
Bias remains on the downside, with speculation rife over a Chinese revaluation,
along with expectations of an imminent shift in Japanese monetary policy. Some
say that a change could happen as soon as the March 8-9 policy meeting. This had
a large influence on the future market overnight, with EUROYEN DEC06 trading in
over 74,000 contracts. This is the highest volumes for some years and was
coupled with short to mid-term JGB interest.
Offers in USD/JPY are noted 117.00/10 from CTAs and proprietary names, while
offshore funds and macro accounts continue to place orders back into the
117.30/40. The 117.40 level also corresponds with the Ichimoku cloud top. Bids
are noted at 116.40/50 from real money names and importers, while quasi-official
demand is tipped at 116.30 ahead of the 116.00/20 option zone. A number of
strikes are noted ahead of large exotic positions at 116.00.