Forex rebates on every trade - win or lose!

GFI There's a world of difference between cmc and FXCM. FXCM are a broker who make their money from your commission.The more you make and the more you trade the better for them, as for cmc, well........

So who do YOU use, Seymour? FXCM?

Markus, I use cmc :-)

However, I'm still cutting my Forex teeth, and if it works out I will be using a broker where I do pay a commission for each trade.

It's all about terrorism this morning.

goforit,

Depends what you call a large amount, but you'll probably find that most people who use FXCM look at 10/pip on cable as a minimum. Anything less and it's not worth getting out of bed in the morning.

I'll hazard a guess that the average position size with them is around 30 or 40/pip.

30 -40 p/p....that's enough to keep me awake forever!

The recent talk about fxcm has goaded me to download their platform. It's cost me an absolute fortune in dummy money as been putting through lots of trades, orders etc. Extremely impressed :-))

It's time to ditch the SBs and move on.

Bakko, 30-40 pence per pip is enough to make me lose sleep, the way my investments have been nose-diving over the past 18 months or so!!

Still putting fxcm through it's paces.

Placed buy and sell limit orders just ahead of an announcement earlier. The sell order got triggered and I was out for a 1400 profit...what a pity it was only funny money :-(

Can't wait to ditch Fins now!

markusantonius,

Re 5840, if you are new to FX, CMC is ideal......but only as a TRAINING PLATFORM!!
The reason is simple, whether S/B or CFD spread is generally small, and fixed! also they will do small trades, ie S/B 1 per point, CFD about 60p per point.
Hopefully you will progress and become accomplished, this WILL require a better platform.....which means just about anybody else.
To illistrate, I have E-Trade and CMC CFD platforms, when things are zinging on cable, like FOMC rate days, E-Trade fill is 1-3 secs, CMC....30secs to 5 mins, and this is not a one-off!!!
It is also not unheard of to find CMC will re-quote you, but take so long that the re-quote has expired before you see it, when this happens as cable moves 100 points in less than a minute, the result, as I recently found to my cost, can be very painful...:-(
Hope this helps

Regards

SC

While I am here, I need some help if possible....can anyone tell me how FOMC rate days, and minute days, are scheduled?
I have a memory like a sieve, and always forget them, if I knew the schedule in advance I could programme the electric diary
(And yes I do mean electric, not electronic......it's wired to my n*ts as a guarantee it will get my attention...LOL)

SC

SC

http://www.federalreserve.gov/FOMC/

Scroll down this link and you should find all the info and dates you're looking for.

bakko,

Thank you for the info!!, now have pretty new button on browser, and will do diary tomorrow, can't wait for the next event...LOL

Thank you again

Regards

SC

This week's Economic Data Release Calendar is brought to you by Fairy FX Services while Hil is a-doing what she says in the header.

Many thanks MM

Thanks MM.

Just getting back into trading after a summer break. Just reread come into my trading room by Elder and just had my best week trading on currencies so odviously a few things have sunk in(discipline definitely), certainly recommend anyone to read it who hasn't.

Harlosh, hows the P&F going?

Have a good week everyone from sunny(and crowded) Spain

My pleasure folks. I'll try and keep my end up while Hil is frolicking.

anyone watching cable, bit volatile this am

Hi Gfi,

Not around much for a couple of days.

Still using P&F. It's great for pattern recognition and the more I watch Cable on it the more clues it gives me. I'm still here and profiting after several months so pleased with how things are going.

Good to see you back and good luck with your trading again.

Following on from this week's data, if Bernanke offers comments of substance tomorrow, his views and choice of words are likely to become part of the market's dialogue going into next month's FOMC meeting.


Forex - Dollar firms, shrugs off more weak housing data
AFX


NEW YORK (MNI) - The dollar posted its third successive day of gains Thursday, bucking the notion that weak data from the US housing sector would undermine the greenback this week.

Euro-dollar was trading at 1.2770 usd in afternoon trade Thursday, noticeably below its 1.2832 usd starting level of the U.S. session and at the lower end of a 1.2755/2840 usd US hours trading range.

Similarly dollar-yen was trading around 116.50 yen, modestly above its 116.30 yen starting level and in the upper part of a 116.15/116.57 yen range seen in US hours.

On the day, the dollar saw slight losses early in the session as traders reacted to the release of data on durable goods orders for July where the overall headline of a drop in orders masked a better picture in the details of the report.

But traders were saving their firepower for a report later in the session that would enable the pulse of the US housing market to be taken, but when the report on new home sales was released, showing weaker than expected sales in July, the dollar barely blinked, holding steady and then lifting slowly in subsequent trade.

That reaction mirrored similar action seen Wednesday where the greenback lifted in the wake of data that underscored a slowing of sales of existing homes.

Late last week, and early this week, traders had anticipated that signs of a slowdown in the US housing market could undermine the dollar, the greenback already on the defensive amid speculation that the US Federal Reserve may be done with its multi-year tightening cycle that has lifted the key fed funds target rate from a record low 1 pct to the current 5.25 pct.

But despite the soft economic data, the dollar has posted steady gains versus the euro and yen in recent days, pressing the euro down from Monday highs at 1.2940 usd and dragging dollar-yen up from lows near 115.30 yen.

On the day, euro-dollar found support from bids at 1.2750 usd, a level seen just ahead of a report that showed sentiment among German business held about steady in the month. With some business sentiment indicators from Europe showing falling confidence, concern was that weakness in German business sentiment could undermine plans by the European Central Bank.

While the ECB has declared that it has no 'ex-ante' plans for future rate hikes, remarks by ECB officials have indicated that the bank remains concerned about inflation pressures at a time when the European economy appears to be strengthening.

Such is a recipe for future rate hikes, market participants remind.

US economic data released Thursday:

July durable goods orders fell 2.4 pct but, ex-transportation, orders were up 0.5 pct after subtracting the impact of civilian aircraft orders and motor vehicle orders.

Analysts quickly determined that orders are still strong - non-defense orders are up 3 months in a row, and up in 10 of the last 12 months.

July new home sales fell a steeper-than-expected 4.3 pct to a 1.072 mln seasonally adjusted annual rate, below the median expectation of 1.100 mln and following downward revisions to the sales pace in the prior three months. The supply of new homes rose 1.1 pct to another new record of 568,000 in July, while the months supply rose to 6.5 at the current sales rate, the highest since November 1995. The July median sales price fell 1.6 pct to 230,000 usd, up only 0.3 pct from a year earlier.

Weekly US jobless claims fell 1,000 to 313,000 in the Aug 19 week and were the lowest since July 29 versus 315,000 expected and 305,000 in the July employment survey week.

ta fx fairy from a pleasantly warm spain, have a good week all