Forex rebates on every trade - win or lose!

rpaco, Mega did mention he'll be starting an FOT thread sometime soon. I wouldn't mind starting one myself but am not terribly good at content :-)

Yet another day of sheer madness on cable which was up 150+ pips.

It looked as if it was on a downtrend early this morning on the 5mins chart but as soon as the trend establised itself it was heading for the moon!

I shorted it early in the morning and had to bail out for a loss when I realised the trade wasn't working as planned but ended up on an overall profit having shorted it later in the day at the top of a spike up and covering on the retracement.

Not been long trying out forex and just totally baffled by the length of the main uptrend. When will it end? There's certainly no signs of it yet.

For those unfortunates like myself who are lumbered with CMC charts please note the CFD cable chart is currently very ill......poor lamb appears to have lost the concept of midnight.....and goes from 11:59 to 1:00 am.......makes for a lurid candle, but has little other value!!!
(Please not this refers to 1 min and 10 min charts....have not checked the others!)

Regards

SC

Are we all ready for some fun?

Oh boy :)

[12:32 US ECON: NFP Rises 138k, 4.7% Unemployment Rate, Earnings High] Boston,
May 5.

595 could be tops for now Choccy

Think so too Hils

Just watched cable jump over 100+ on the back of that news.....mental!

61.8 fib of the big move down. Not that I'm a paternnmeister, but they've been saying for a couple of days that the sellers are queueing up that level and will re-enter long only if/when it clear breaks 600.

wow!!!

Fins are right ******. I shorted cable near the top but they wont let me have a trade ticket to close my position. Still hanging after 5mins :-((

Phone them Bak.
I'm hanging on to mine with a stop cos I'm away now.

It keeps banging on the door at $1.86. I reckon we'll see $2 by Crimbo.

The door just opened . . . but we've been here before a number of times over the years when $2 seemed certain but it never happened. However, WDIK . . . except that my company has significant $ receipts due over the next 6 weeks -- that's wot does it.

Inflation's got to be the key driver, MM, and I can't see how, in the months to come, the UK are going to be able to get anywhere near Gordon the Moron's ridiculous targets all the time that energy costs are sky high. And with Fed tightening drawing to a conclusion, the focus has got to shift back to those deficits soon.

It would be interesting to overlay an inflation adjusted chart for US Crude on top of a cable chart for the last few decades. I haven't got a clue how to do that or what it would even look like, but I think it might be an interesting exercise nonetheless. Maybe that's one for Roger Bootle and his Sunday column in the Torygraph.

edit: Next week"s key UK event risk is Wednesday"s publication of the quarterly BoE
inflation report. This should shed fresh light on UK monetary policy. In the
wake of this week"s strong UK data, UK interest rate futures are currently
pricing a 25bp base rate hike before year-end, with another 50bp tightening
expected to follow in 2007.

Hi all, i have a favour to ask anyone who can answer this question.
Need an indipendant price.
I have an account being traded for me in US and i need to confirm what
price EUR/JPY was trading at 11-10 Chicargo time, which if i've got me maths
right is 6 hours behind UK so 17-10 UK time.
Also will interbank rate be very close to FXCM price?

many thanks
Steve.

Lost my crappy slow internet connection totally last week, so haven't been able to post for a while. Just had a look at my last post - target 18100 on a pull back!! Ho Hum!! This rise has been relentless and I guess the adage 'trade what you see' has never been truer! Just goes to show I still have a long way to go before I have this cracked, but now I'm back on Broadband at least I can watch what is happening. Anyway, short from Friday, although having completely messed up over the last 7 days, not with much confidence!!

pth

Cloudbase - a glance at the chart says it was somewhere between 143.09 and 143.13 around 17:10. It moved up to 143.25 and higher at 17:15.

choc.....thanks, thats about what i got it to. Don't wan't to elaborate further
on here, but will have a chat with you at the next North West night if your going.