Forex rebates on every trade - win or lose!

It is to me too Hilary :-)

goforit - hopefully it is bottom building. On the 5-min chart, we seem to have a higher low...so possibly a trend change. But I'm no expert!

Cable still not closing above 50 EMA - until it does that for atleast a couple of bars, I'd be wary of going long.

thanks for posting that H, johns got that on a couple of his screens, wondered what they were but daredn't ask(dont understand his trading system).

[15:47 EUR/JPY: BOJ Debate To Center on Inflation Target] San Francisco, March
7. The Yomiuri writes this morning that the majority of BOJ board members are
planning to cancel the quantitative easing policy when debate on policy begins
tonight in Japan. The paper also notes that both the government and ruling party
accept that this is a prudent decision, but the paper asserts that much of the
focus will turn to the pressure from the government to establish an inflation
target for the BOJ. Opinion between the board members is said to be divided on
establishing a target, with objection from some on fears that such a target will
serve to impair the flexibility of monetary policy. However, the government
continues to press for a numerical target as part of the policy shift.
EUR/JPY is trading lower yet again at 139.80. It should be noted that the gold
slide remains a negative for JPY crosses with many Japanese investors exposed to
speculative gold positions. A fall in gold forces them to sell gold for USD and
the USD proceeds for JPY, contributing to JPY strength. Rising global yields
also make it difficult to play such trades. Bids are eyed around 139.60 on
EUR/JPY with more stops under 139.50

klal, bear candles stronger on the 10 min chart at the moment and hasnt closed above 5ma o/c on hour chart. i'm not in any rush, just enjoying a day without wind

Well, I've gone long Cable because I've noticed that if a trend starts between 6.30 am and about 7am it almost always carries on for the next few hours. I'm a bit down at the moment, but it's going the right way. Was late looking at the chart - must get up earlier!

Nice going with your Euro thingie yesterday too Maggot.

Anyone here using CMC?

Should have had a lot more, Chocolat. But I tend to put in OCOs, because in the past I've left profits and come back only to see them all gone. So I now take at least something - but at the cost of losing the big trends. However, forex is really only a sideline, though I suspect if I concentrated on it I would make much more.

maggot, like you I was late, should have bought on the break of 380 area, got in higher up(above 400), didnt like it and got out for -12. At the moment its trading within the 7am hourly candle, which way will it go?

Harlosh-yes

Gfii,

My Updta chart is USD/GBP and CMC is GBP/USD.

Is the CMC way the 'normal' way to quote that pair. I'm confused.

So with CMC which way do I trade this chart?

I think the normal convention is GBPUSD.

EDIT: So it works out as one GBP buying you so many US Dollars

H ie for1 you will get $1.7402(that wont last long!)

So am I currently watching the dollar rise or the pound?

It's 'doin' me ead in' as they say here in Machestoh!

Harlosh,

The Updata convention of USD/GBP is incorrect although their chart is actually of GBP/USD which is at approx 1.74 despite the incorrect convention.

If it were USD/GBP the price would be 1/1.74 (ie. 0.5747).

If the number (1.7nnn) is rising, then it is the value of the pound going up