Forex rebates on every trade - win or lose!

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I love the bit "speaking ...with the Stoke Sentinel", that bastion of financial journalism.

UK MPC's Besley says current high debt levels not major concern for rate-setters

Mon, Nov 27 2006, 12:04 GMT
http://www.afxnews.com

LONDON (AFX) - Tim Besley, a member of the Bank of England's Monetary Policy Committee, said high levels of debt in the UK are not a major concern for rate-setters at the moment.
Speaking in an interview with the Stoke Sentinel, Besley said personal debt levels are high but not high enough to affect the whole economy.
"When we are setting interest rates we wouldn't say at this point that is one of the major factors we are concerned about from a macroeconomics point," he said.
Debt levels are not sufficient to be creating "significant weakness in the demand side of the economy", Besley told the paper during a visit to North Staffordshire.
"If there was sufficiently many more people getting into difficulty then that would create an effect but I don't think it has reached that level," he said.
In the minutes of their November meeting, when interest rates were raised to 5.00 pct, the MPC acknowledged that the "burden of rising debt" could weigh more heavily on spending than had been allowed for in the Committee's central forecast.
Besley is one of the newer members of the MPC and joined the body on September 1.
The newspaper was quoting figures showing that the number of people declaring themselves bankrupt in the Stoke area this summer jumped by 80 pct to 144 from just 80 in 2005.
Recent figures have shown a sharp rise in the number of bankruptcies, though this is partly due to changes in the law, making it easier for individuals to file for insolvency.

Evening. Apparently BT have finally got Miss M online. They reckon the Firewall I
put on her laptop was stopping their Broadband working. They better not be making
her use their product without a Firewall. It took me 2 days to chase all the nastys
out of her machine the last time she brought it home. (P2P music file sharing. Grr! )

She's had a tour round the Investment Bank that she may be getting a position
with. She may go into their IPO section, so that she can learn from grass roots
what makes a company tick and how to value companies properly with the
knowledge that she gains.
Hee-hee, the mentor started talking about how she would be useful for 'Spin'.
To which she replied, after me telling her all about financial spin, "you mean lies".
He was taken aback, and said something about Northeners being rather blunt. :-)

Apparently, they also know the Trading section as 'The Essex Boys'. :-))

Anyway, here's tonight's basic stuff.

Monday view: Paulson re-activates secretive support team to prevent markets meltdown




Monday view: Paulson re-activates secretive support team to prevent markets meltdown Judging by their body language, the US authorities believe the roaring bull market this autumn is just a suckers' rally before the inevitable storm hits.

Hank Paulson, the market-wise Treasury Secretary who built a $700m fortune at Goldman Sachs, is re-activating the 'plunge protection team' (PPT), a shadowy body with powers to support stock index, currency, and credit futures in a crash.

Story

nice article Boyse..

Cable behaving nicely atm..

Hi all, hope your all going well. Just like to add my thanks to melnibone for all your posting, findind it very informative and helpful. Slowly getting myself sorted, not trading at the moment as have been doing alot of other things as well.

Can anyone tell me how to use photobucket to upload charts from fxcm as seem unable to get it to work

gfi, do a "Print screen", then save the image or edit it then save on your hard disc, then use photobucket to browse your hard disc for the location and upload from there.

ta SC

Cable 1.9500 will she... wont she

Can someone please post the date that 1 buys $2's thats would really help me atm.

Short Euro 3175
Retest break just below 1.30 and not stay above high of Monday?
Now see me get shot down?

"gainlocked" out for +5 on Euro but will look for another entry short?

Evening. Tonight's stuff to the budding capitalist, Miss M. :-)

Link to Helicopter Ben's Stuff

He said the inflation is already "better behaved of late" and should continue to
slow gradually.

Much of his speech was used to gently dampen two of the major fears about the
outlook -- that the housing market would push the economy into a full-fledged
recession, or that inflation pressures were like a smoldering campfire, seemingly
controlled but ready to burst up in the next strong wind

Cant see any reason to cut my long yet...

Two way price action on Cable above 1.9500 this am

1.9500- 1.9550 the trading range so far

Heavy seling at the highs...closed my long...

Interesting...grabbed 25 that should have been 50 but coudl not get a fill...off that spike..

However I am now only going to trade the break as follows

short if under 1.9470

long over 1.9550

any comments...?
especailly from our leader ...

Hi John you in ?

Long since Friday, and no time to actively trade for the foreseeable.
Support imo is currently 1.9410/20
Just hanging around for new home sales. Preference is to let it run.

Choccie hi there

I have to agree generally...
I just saw that large resistance any time we got near 1.9550..
I expect its going to be the " gateway to $2 "
Door not going to open easily...

Probably some entrenched positions that really dont want to see $2...
I wont be doing any shorting thats for sure...( well never say never)
Looking for some solid support to develop a little lower down..towards
1.9400 and will look to build some longs down there...

Thats the plan anyway...
ok off to draw a few more lines..on a few more timeframes..

I see that many say long or short in one go..even though I am not a big trader
and trade the "mini contract" ..I like the fact that you can build a position with just 10k trade increments if you want to.

It still mounts up especailly with 200:1 gearing available on FXCM.

Like Chocopops, I'm not around much this week so I need to think about positions that will take some time to bear fruit with a wide(ish) stop. Just looked in and noticed that cable's broken to the downside of the intraday range at around 1.9470 within the last hour or so.

It looks to be due a rally back up short term on the 5-minute chart, so I'll look in again later to see where it is and then think about a short.

It's footie time. C'mon Chelsea!