Forex rebates on every trade - win or lose!

Oi, you lot, some of us have to do seem real live currency trades soon (USD->GBP), so please could you arrange for a massive drop in Cable? Thank you for your assistance.

Oh dear. I can smell Toasted Fairy.

:o)

Setting my stops too tight :-((

Back to the drawing board.

All my macd's are point down on the 1 hr charts apart from the 200 and they're all looking like we should go down, just irritated I set my stops too tight. Anyway, you can't make an omelette without breaking eggs. Apparently.

Don't give up on it, Seymour.

Thanks Hils, determined to crack this Fx game. I am NOT giving up.

SC....Sorry to hear about your recent trades.

I'm still a novice at this and feel that I've finally turned the corner after 7-8 months. It certainly feels like a very big corner and after many depressing trades at the beginning I am glad to have stuck it out.

So hang on in there SC!

Thanks Bakko. I had a spell last year when I looked at Fx and it scared me silly, couldn't get my head around it, mainly because of being too short term but I'm much calmer now, and can see that it's highly tradeable. I don't mind some losing trades if it comes right in the end.

Really need to widen those stops a bit and get on the right side of the trend.

Hil: With Brent crud a snip at $59.98 for yer barrel, perhaps I should buy oil with it instead?

Nice idea, MM. Could you buy enough to fill my Skoda up?

[07:52 GBP/USD: Weighed Down by Dovish Blanchflower Comments] London, September
27. Dovish comments from BoE MPC member David Blanchflower have weighed on cable
to a new six-day low of 1.8917. Blanchflower expects a rise in UK jobless, and a
fall in jobs, and suggests that ONS figures overestimate UK wage rises (DJ). He
also sees a higher risk of a spending slowdown, and believes inflation
expectations have leveled off.
Minutes from this month"s MPC meeting revealed that Blanchflower is "minded to
seek a reversal" of August"s 25bp UK base rate hike "in due course".
Blanchflower was the lone committee member to vote against August"s rate rise.
1.8930 (yesterday"s low) now represents a rebound resistance level. Upper
obstacles include 1.8943, 1.8960, and 1.8970.

Thanks Hilary. Amazing how moods swing on these stories!

I have a support line drawn at 1.8910 tying up the high of 14th September and the low of 29th August, will watch and wait to see if we go through or go for reversal.

Not a good start to the day. Had to close out yesterday's long as it fell below my rising support line :-(

Off to work now :-(

Seymour,

The easiest thing in the world is to "fit" the news to the chart retrospectively. This movement has been in the chart since the end of last week.

Agreed Hilary, I have this amazing gift of hindsight.....

[08:32 UK ECON: Aug Mortgage Approvals 71,278 - BBA]

[08:31 UK ECON: Q2 C/A Deficit GBP 6.986bn, Lower-Than-Expected]


[08:30 UK ECON: Q2 GDP Revised Down to +0.7% q/q. Unexpected] Annualized UK Q2 GDP has been left unrevised, +2.6% y/y.

I guess the US figs weren't too hot!

Scalped +17 off that, no long term position yet though.

Nice one SC.

I could have got out of my long flat if I'd left it alone.

Giving it back as we speak :-S

Another 50 down from here (1.8893) should hit some support imo.

Cable's a bit on the choppy side so watching and waiting instead.

US home figs out later too.