Forex rebates on every trade - win or lose!

I'm not convinced on the intervention story ......... more likely to be Yen bull profit taking imo which I thought was present on Friday at around the 117 level then.

[09:18 USD/JPY: Quasi-Official Rumours Support Into 116.00] London, February 27.
Rumours of quasi-official bidding into 116.00 is doing the rounds across London
dealing desks after USD/JPY found support on the dip lower some moments ago.
Japanese bidding has been seen into the lows but some of this is seen as profit-
taking after spot held the 115.70 fibo level overnight. Technical support and
Japanese name demand from 116.00 down to 115.70 should ensure that liquidity
remains healthy around these levels.
Gamma related interest should restrict price action amid good size 116.00
strikes rolling off and offers are anticipated from 116.25/30 up to 116.45 from
CTAs and speculative players. Selling into strength is favoured, with another
test on the downside as the session progresses.

Blimey, today's turned into a blinder :)

Are you referring to Cable Choc?

Yup - just had a gallon of coffee :)
3 longs from yesterday and another this morning, average 1.7382 - all closed out for now.

Well done.

Dipped my toe for the first time just now with a short on cable from 64

Have 5 contracts on with BetonMarkets than cable does not touch either 1.775 1.720 or 1.722 all due to close tonight and tomorrow :-)))

Mega...

I hope my short falls only to 723 then Mega.

Good luck guys :)

choccie,its a no brainer really,its bang in the middle of either limits so as long as it does not tank or rise rapidly it will be a nice little earner so they say :-)

My short is looking shaky

Fwiw I can't see it going much lower than 1.7370 for a while yet.
And I'll stick to longs for now.

Covered cable -16

The greenback is weak across the board today because of fallout from the Dubai Ports/P & O deal.

hard luck harlosh

Long 1.7463

oops and 65 but will tip out if it doesn't look to break 1.75

Cracking entry, Chocs.

the entry yesterday wasn't bad either!

Was concentrating on shares today, but wish I had traded Cable instead - still, managed 60 points on a quick couple of bets. Trouble is I don't bet big enough.

Goforit,

Thanks. I think it's always good to lose at your first attempt. It ensures one doesn't get carried away. Still got a lot to learn on Forex but been reading a bit and watching the charts trying to get a feel for them. Only using CMC at the moment so I can keep my mistakes to a minimum.

Todays effort was only small to relieve the boredom of all that studying. At some time or other you just have to get stuck in there and learn by your mistakes. Better to keep them small though.

Look forward to posting here more often and learning from our resident experts Hilary and Choc :-)) (Hopefully Hilary will stick around for a while to profer snippets of wisdom).

On an away day tomorrow so no trading til Thursday.

Good luck.

Where from here?