Forex rebates on every trade - win or lose!

Lovely jubbly, just had +60 off that :-)))

Well done guys

Bugger
Missed my target by 4 pips :))

Picked off +46 before the reversal :-)

In - long - from 771 let's see where it goes from here. Kicking myself for missing that spike.

Crap trade - out for -20

Given a bit back :-(

I shorted at 90 with a target of 8739.

I'm going for the bottom line

Harlosh
I think you really are the MoTU :)

You mean 8700 Choccy?

Thanks mg - we all have our moments. :-)

I'm keeping out now whilst I've had a +ve week. Anyway, work beckons again. Managed to pay for my sandwiches this week.

Harlosh, superb trading. Gonna get me one of them black boxes like what you're using ;-)

If my support line doesn't hold it, yes H.

OK Choc. Thanks SC.

That's it for me this week. My 5-min charts might be turning back up again now and it looks like a few people are closing out ahead of the weekend. Besides, I'll go boss-eyed if I watch it much longer.

I tightened my long stop ahead of the data, watched it soar but couldn't get out fast enough as it fell back down and hit my stop at 1.8815. Then watched like a muppet before finally shorting it at 1.8782 having spurned countless earlier opportunities at a better price.

I suspect now that this will go even lower early next week, but Monday should be good for a fresh entry if that still looks to be the case.

WRT my post where I claimed to have got +60. I actually got 61, but it was a fluke, I accidentally brushed the touchpad at 8817 before the figures whilst the cursor was on "buy" and this triggered a buy, even though I tried to cancel it! So I thought I'd let it run rather than trade at a loss, and it went up a few pips, so then I decided to wait for 1.30, got out at 8878 but do I wish I reversed? You bet I do!

Anyway, I just want to thank everyone on this thread, especially Hils, for all their help and assistance. After flirting with Fx last year, I now think I've got my head around it and want to keep going, especially after seeing what can be done. I'm only trading tiny amounts at the moment until I'm more confident and can consistently get more winning trades than losing, but with my level of busyness at work I really need a single instrument to trade, and I reckon Fx is the one.

It's difficult, for me at least, to keep up with posting here in the day time.
Had to switch off and get my head down to some work this afternoon.

When cable started to climb so quickly at lunchtime I moved my order to close and reverse this morning's long up 50 to 1.8880 - and then watched in dismay as it fell away from 1.8876. Finally managed to catch it and reverse at 1.8845.
I'd already set up the buy gubbins at 1.8680 this morning :)
It was a bit loaded, but then again, that was my bottom line - and I do like it when a plan comes together.

I also appreciate everyone's efforts at sharing information - thanks especially to Harlosh and Bak for the bucket thingie - it's brill. Can't believe I've struggled with Lycos all this time!

Great to see mEgA MoTU back; glad you're finally getting the hang of it SC; Bak and Harlosh - well you two are mad anyway ;) and well done to the odd lurker (you know who you are, Bos :P)

Didn't have time to reply to your post, Hils. One thing I've learned (but not entirely mastered yet) is to stop trying to preempt the moves too much. I think it's fairly clear from those of us who post on this thread that we all trade on our own perceived TA, and whilst it's paramount that we assimilate an understanding of the fundamentals, it would appear that sentiment does change goalposts at the move of a pip. Every MA indicator (up to and stopping short of the daily) has crossed, or is long since down - no way was the hourly going to give it up today.
And it still might not. I shaved some of my newfound long when I got home, and the stop's in at entry for the rest.

Rodders has a lot to answer for ;)

Thanks for your thoughts Hilary.

Nice posts SC and Choccy.

Have a good weekend all.

Choccie,

I do believe it's important to think about financial markets and to have opinions on them although I'm happy to admit that my views might be at times outspoken and are often wrong. In the light of this past week's action, which I found a little surprising, I might even revisit those views in the days ahead. That's a woman's prerogative after all. I do actually wish that more people on this thread would offer an opinion on where they see the market going, not over an hour or two, but over the coming weeks and months.

:o)

I wouldn't, however, allow my opinions to influence my trading in any way. When it turned upwards on the 5-minute yesterday morning it was clearly against the hourly trend and caution obviously needed to be exercised with longs. I felt that there was mileage to be had in it nonetheless, and was pleasantly surprised when it broke the first resistance at around 1.8780ish as per the chart that I had posted and even more pleased as it gapped through 1.8830ish on the NFP data.

The difficulty I then had was firstly in not being able to exit my long quickly enough as it turned back down. That was just an occupational hazard. Secondly, by the time that it had hit the high around 1.8880, all of my faster charts were clearly pointing upwards and there were some first tentative signs that the hourly charts were turning upwards too. The market was, after all, just shy of the highs for the week and certainly didn't look like a short at that point, imo. It backed away quickly and I then felt it important to allow the news to be digested and wait a few minutes for clear direction before re-entering the market, which I did as soon as my indicators on the 1- and 5-minute charts turned back down. By this time it was already 1 cent off the high and the risk reward ratio wasn't exactly brilliant.

Unfortunately, all technical indicators are reactive in so far as they are formed upon the basis of something that has already happened. In fast moving markets the fun and games are often over before the charts are able to paint the picture. I'm not disappointed in my performance yesterday which still netted over 150 pips from my two trades. It's inevitable though to feel frustration that there was around the same again which was missed.

who are you calling an "odd" lurker ? :P

i wish you two, hilary and chocolat, would post more. you both make fantastic reading and are great to learn from.