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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

Thanks Hilary. I think it is the Updata chart which is confusing the hell out of me.

Caution. There's meant to have been large EUR/USD short stop loss which has been triggered in the move higher this morning. Now that's out of the market ................

Who knows?

ditto H. Haven,t a clue which way its going to go, so I'm of to the shops to buy my little girl a pressie. catch you later

10:40 EUR/USD: German Buying Linked To Schatz Auction] London, Mar 8. London
based players are noting the German interbank name demand for the EUR this
morning since the Asian session. They have linked the buying out of Frankfurt to
the German 2008 Schatz auction at 10:00 GMT. The initial rumours said the German
name had in the region of EUR7Bn to buy but upon the release of the auction
results showing the market bought EUR7.69Bn the order looks to have already been
filled over the last week. The latest rally to 1.1940 in [EUR/USD] has eased and
technical accounts selling ahead of the 10-Day moving average line are reported
to have helped weigh onto the topside.

Currently long USD/JPY

Looking to short cable soon

I knew there was something I wanted to ask you Hils!

What the fer-ferk's a merkin and can you google it? :o)

You need Wigs 'R' Us, Choccy.

:o)

Where on earth did that lot come from???, take a short break from my one-post-a-week thread and all hell breaks loose!!
Anyway I think I finally cracked this FX lark, changed platforms (hilary will be proud of me..:-) ) and tried a cable trade on E-Trade, don't know how to work it, though??
Upshot of all this, manually closed the trade and didn't realise I'd left a stop on.
On returning home from work discovered not only that the stop had triggered, but had accrued me a nice +125.......piece-of-piss....ROFLMFAO.

Stormie: Welcome back!

Yup, things have livened up around these parts and there is a small, select club of finely-tuned expert FX traders here, led by that perfectly-formed band of charming ladies in the shape of hilary and chocolat.

Cheers

MM

MM,

Long time!!.......partly explained by the fact the finely-tuned experts found out I'm not very good at FX (see post..lol) so they barred me.......but I sneak in during the wee small hours when they are not looking...LOL

ps Hope you are well..:-)

I am well, in the rudest of rude health, thank you. I trust you are the same.

MM,

Very pleased to hear that!!, things are well here also, aided I am sure by a week away from the office...LOL