Forex rebates on every trade - win or lose!

Blimey, this thread has been very active of late - great to see you lot "at it". Been a voyeur for some time now - the screws only give limited access on G wing. Looking to get back in the saddle for a couple of days a week now I've done my time :) Still have my community service 3 days a week up to Xmas - but then I'll be able to get back to join the forex crackers on a more flexible basis.

mg (ASBO 1st Class)

I guess that the lack of opinioned posts on the thread since yesterday afternoon serves to highlight the level of uncertainty ahead of the MPC. From looking a no-brainer short yesterday morning it's unexpectedly got some fresh life.

I used to be uncertain. Now I'm just not sure.

Got a long order at 1.8875....cant be ar*sed to keep watching it...
Flat at the moment...

Do you get slippage on FXCM if the price moves up rapidly...
or do they fill you at the price you specify?

Foale, I know Hilary will answer this but I think the answer is that you're still subject to the prices a broker can offer, and there can be gaps at announcement times.

right..thanks..I suspected as much...so I will cancel it before any figures are due..

Its just ploding along a tad under the line starting from 9am on the 3rd..

Yes, D. If you look at the 1-min chart you can see odd gaps and you get filled where it gaps to. It's normally just by a pip or so on the odd occassion that it happens. I only employ tight stops when I enter the market which I look to move to breakeven asap to limit the exposure. Once at beakeven, I try to leave them there and run with it unless there's a major announcement due.

[06:59 GBP/USD: Forays Below Asia Base, Times MPC 8-1 for No Change] London,
October 5. Cable forayed below the base of today"s narrow 1.8851-1.8868 Asian
session range in early European trade, as the continent absorbed the 8-1 Times
MPC vote to recommend the UK base rate be held at 4.75% today. This vote
contrasts with the Sunday Times-reported 6-3 "Shadow" MPC recommendation for a
25bp hike. The BoE MPC delivers its rate verdict at 11:00GMT, with the
probability of a 25bp hike rated at one-in-five by Spreadex (Daily Telegraph).
Staying with UK rates: former MPC member DeAnne Julius has reportedly told
the BBC that the base rate could hit 6.0% in the next 12 to 18 months.
GBP/USD support points include 1.8844 (session low), 1.8830, 1.8800, 1.8787
(yesterday"s floor), 1.8764 (Monday"s Asian session top), and 1.8737. The latter
level is a 61.8% Fibo retracement point of the rally from last Friday"s low of
1.8633 to Tuesday"s high of 1.8899.
Touted offers at 1.8880 and 1.8900 represent appreciation obstacles north of
1.8864.

Morning All

No positons yet so only watching and waiting.

Thanks for the charts and informative posts though

Morning all, also W&W

notice cable trading between the fib levels of highs and lows of last week.

See gold dropped again last night, another 20 dollars and it'll be testing the june lows!

Is my target short of 8734 an outrageous one or will we see it later today?

Dunno H - still got yesterday's target for starters.
Got a bit sidetracked with VRD :)

is fx trading station or have we got a spanish problem

It's OK here, G. It's probably siesta time out there.

cheers h

Afternoon folks, no position atm. I was reasonably certain that we'd go up today, despite a hold on rates. I was so wrong! Anyway not sure what to make of today so will w&w - really too busy to look in regularly today so might have a scalp over the next hour or so.

SC. Could this be one of those double botts your were talking about. On the lower fib level of last week fall?(on the hourly chart)

Hope so gfi, I've gone long, v tight stop.

Hmm, that might have been a mistake. Still in but stop approaching.

edit, going to switch off and look later.

SC, Probably a wise thing to do.

There's no point in going against this downtrend.

I'm sitting today out as there's always tomorrow.