Forex rebates on every trade - win or lose!

Somehow, Beebs, I'm still in the trade despite it going through my stop briefly. Don't know if it was me who'd set my stop at the wrong level or a dealer's generosity. Hey Ho.

same here hills, so busy trading ftse didn't put a stop on,
turned round and saw it at 179.10....oops,

however, an hours a long time in the life of our dear friend
the cable, so still long, and now in profit.....

another hour rushes by,
and bang goes the profit,

just like a whores draws today !

if we fail to break 180 on the next run up i'm out,

or is 180 wishful thinking......

yo-yo job,
very frustrating morning on this one,
nearly had to put a margin call on that
quid you owe me.....

this one gets better, and would you
believe the ftse short gets worse

Hello everyone:
Where are all the FX traders hiding???
Gone bit too quiet on here so decided to bring it from the bottom depths to the top where it belongs.

rgds
zarif


ttt

zarif: I dunno. Where's that Hils?

I'm still here MM. If you weren't already long, you should've been long from the upside break of the pennant this morning.

Hilary nice to have u back.
What are your views on cable - Dollar Bull?
Managed a couple of shorts earlier -nothing spectacular.

rgds
zarif

zarif,

The Euro and the Cable are both forming higher lows and highs on the 5 minute chart, although there is resistance to a downtrend at just below 18400 on the 20 day chart. Any move upwards over the next 2 or 3 days will likely see resistance selling there.

I can't see the Fed increasing rates tonight, so they should both go up. Long stops on a move below 17939 (Cable) and 12209 (Euro) being the last lows as a precaution.

Thanks Hilary:
long cable atm.
Will adjust stops as suggested.

rgds
zarif

zarif,

If those stops are a little too far off the current price, may I suggest that you wait until you get confirmation of the fresh low (which you should get ahead of the Fed), and then adjust your stop loss to a move below that new low?

Once the low is in place, you should also be able to connect the low from today with the low from yesterday to form a support line to the uptrend. You will then be able to use that as a rising stop loss, staying long in the trade until the line is broken.

Brilliant advise Hilary -many thanks again.

Waiting for greenspan to start talking in 13mins.

zarif,

The Euro low certainly looks to be in place ...... I had hoped that the Cable might go a bit lower though, so I'm hoping that the low is indeed in place. I've adjusted my stops and have left a series of limit orders to add to the positions if they rise.

I won't be hanging around waiting for the Fed ...... I'll just let the system work automatically. It removes all emotion that way.

Hil Cable went up like a rocket and am locking profits in atm.

thanks
ps: u r right having to decide when to "hold and Fold" trades.Your system certainly would eliminate the Emotion element.

rgds

short cable 181.69

Beeblebrox -good shot on the short cable - i managed to get in at 181.59 and got out at 181.12. It was a quick one to say the least.

tks zarif - going to run mine for a while,
need the 'fix' !

closed 180.99