Forex rebates on every trade - win or lose!

;)

Thanks Choc.

MM's right though - I've heard GBP/JPY referred to as geppy.
If in doubt, say Sterling/Swiss and Sterling/Yen.
I do :)

I thought that Geppy was GBP/CHF but, as I don't trade it, they can call it what they like as far as I'm concerned.

:o)

There's supposedly half a yard of 1.2200 EUR puts rolling off at 3pm. If it is going to fall lower, I can't see it falling too far till after then.

Btw, is it me or has am become horrendously slow recently? I keep having to log in as well.

I thought it was just me Hils.

Hils/Choc - me too, its like they've re-set the time out to an hour or something, bloody annoying!

Hilary/Chocolat/Robb

We have a fix working on the problems we had a week or so ago which may be causing this slowness. I will take a look, see if I can replicate it and speak to the tech guys.

Ian

Have just done a quick scout arounf the site and all seemed as responsive as I would expect, however, I will keep an eye on things and let the tech guys know. If you do experience slowness again, can you let me know where on the site?

Ian

It needs a bit of va va voom, Ian.

Ian,

I only use the bulletin board and even then there's no more than a dozen or so threads that I look at and I also check the occasional quote, but it's very slow on those pages loading. I obviously can't comment on other areas of the site which might be slow.

Hilary,

Thanks for the feedback - response here seems ok, but I will keep a close eye.

Ian

That fiber target from yesterday is about 10 pips higher today at around 1.2090 and starting to come into sight. Just waiting till I can see the whites of his eyes before pulling the trigger.

As MM would say, "He who dares Rodders".

I've now come out of the market completely even although my target hasn't (yet) been reached because it's Poet's Day and I believe that all religous festivals should be upheld.

:o)

Cable still falling Hilary :-))

What fabulous markets these are (as long as one is on the right side of course)

I'm beginning to like forex :-)

Went back in on cable this morning and it's been falling like a breeze block all afternoon.

What a beautiful day!

Just closed off today's position to give a total of +140 pips in 2 days. :-))

well done, bakko.

Nice one folks!
Guess you're out of the faecal position then bak ;)
And spot on Harlosh - was hoping you'd post your little boxy thingie this morning.
Plenty more to come imo - the 4 and 2 hourly MAs have beautiful curves.

Many thanks for some of the compliments but I'd rather they be saved for when I'm still around after 12 months or more but I'm hoping to stick around for a lot longer. Don't get me wrong as I don't want to be labelled ungrateful as those that know me will know that's not the nature of my character.

Yes, I'm extremely pleased that I've made a good start but it means absolutely nothing until I'm able to know how to read TA properly. So I've gone back to basics recently by digging out my old TA course manuals and J. Murphy's book. Does anybody recommend any other books?

Forex is a very brutal market with extremely vicious movements. Its very unforgiving and takes no prisoners whatsoever. If I'm going to get this right I'll have to plan each trade with meticulous precision, working out exact entry and exit points together with stop losses at the right places. I dont expect to get all my trades right as long as there are more winners than losers. As with all types of trading but more so with forex, its all about minimising the losses by getting out before they get even bigger. The winners ought to look after themselves.

So for now I'd rather put my 2 winning trades down as more to luck. But then again, if I analysed it a little more, trade 1 was a cable short taken when it was very near the top of its recent resistance. It was only closed out when I couldn't stomach anymore yoyoing. Trade 2 was a cable short again on the following day when it was still on the downtrend and closed out at the end of the afternoon prior to the weekend break. With the benefit of hindsight I should've left the 1st trade to ride the trend.

My strategy is quite simply to try to identify the trend and trade with it. It will mean that I won't be trading everyday. I'd rather wait for the trades to come to me and if that means there won't be a trade for days to weeks then so be it. I'm hoping that when a trade does come along it'll be profitable enough to make up for those dormant days.

I'll be sticking with cable for now and will be scanning the 5min, 30min, 1hr and daily charts to look for the trends. My main indicators will initially be support and resistence. I'd be interested to know what other time horizons and indicators the more experienced traders use.

I'd also welcome any feedback to my post be it good or bad.