Forex rebates on every trade - win or lose!

This is the first time that I've been able to access the damn interweb thingie for a week, as the transition from Pipex to Sky has been a total nightmare. I've currently got just one laptop wired into my router in the hall as that seems to be the only telephone socket in the house which is capable of supporting broadband. Unfortunately, all of the PC's in the house are wired to my office about 30' away. Strange that the telephone socket in my office was capable of supporting Pipex broadband, but not Sky!!!

I now need to go to PC World to see if I can buy a man with a hammer, some cable clips and a length of cable.

I did read in the Torygraph that the Pound had hit $2. Is it true?

Nah Hilary, don't know where that info came from. It's well under $2 at the moment :-)

Re your broadband problems, in a nutshell I would guess the problem is where the telephone line comes into your house. The higher the broadband speed the better the wiring needs to be in your house. I'd say the best thing is to get the outside telephone line to come into the master socket in your office then run all the telephone extensions from there.

Not taking any new positions here as I don't feel the long position has as much going for it . Was thinking about a short from 2.0050 this am but knew I was going to be busy. If only, eh...

Hil, I wondered where you'd gone. Allegedly, the Pound did pass the $2 mark, but seems to have subsided somewhat this morning. It's probably missing you.

SC

'Fraid I was short this morning from 52, but decided that I wasn't that confident and closed flat. Opened another shortly thereafter and closed that for 10 pips.

If only eh?

pth

Yup, if only!! edit - 10 is better than none and definitely better than minus.

Time to start re-drawing some of the charts after today; YEN and CABLE are still holding, but GOLD has certainly gone out of the window, although that particular commodity may have found support on a Daily rising support trend line. But judging by the way it's fallen off a cliff today could well fall further to 660, probably strengthening the $ in the process.

pth

Tried to catch that falling knife, lost 30 points :-(
Anyway, tomorrow's another day - but how I wish I'd had the courage of my convictions because I could see cable didn't look strong this morning.

US Dollar softer in Sydney

Calendar update as three GIFs again -- apologies to all for the naff "purchase" above the day in a couple of places on the left -- I've ordered a full licence for this GIF conversion software, but it hasn't turned up in my email as I went to press.

Cheers Dezza :)

Went to press what?

MM - the calendar is great, many thanks (on a Friday night too, what service !).

Blimey, Japs have got an easy week !

WAS MY ACCOUNT TARGETED BY IG INDEX?

During the course of yesterday's solid rise in the USD/YEN I rather foolishly attempted to catch a few falling knives, which resulted in my holding of 9 short CFD contracts at roughly 5 per pip (I mention the cost because it may be relevant).

I decided that rather than close and take a substantial loss, to await developments today and see what effect the USA GDP figs would have. At 1330 it was clear from my trading screen Cable and the Euro were accelerating upwards, but the USD/YEN pair remained totally static. Fortunately I was talking to a fellow trader who kept me appraised of the situation once I had mentioned my stubborn pair. Whilst phoning IG I logged out and back in again and after 30 seconds or so, my screen updated and I was able to close all my positions for a significant overall profit, I didn't need to speak to IG after all.

Once the dust had settled I phoned IG asking what had happened to my trading platform, I was initially informed that their USD/YEN data feed had developed a fault. I asked for the name of their data feed provider to verify their claim. Following a period on hold I was then informed that the fault had been an internal IT error, not an external data feed problem!

Now I'm not sure if I am being paranoid, but I find it extremely odd that the only stock / currency affected on my platform was the one I stood to make a hefty profit or a hefty loss. Coupled with their change of story I remain perturbed. Were it not for my fellow trader keeping me updated I am sure I would have missed my opportunity.

Did any other FXers who trade with IG notice the same problem with their platform during the 1330 period?

If not it would seem to lend some credibility that IG did mess with my account.

Grateful for any response.

pth

pth:

I can't comment on the specifics of your issue with IG, so I'll leave that to others. However, I have quite a lot of experience in dealing with the technical and software engineering issues of market data feeds and so on -- most of it rather sad.

It's quite plausible that IG had a problem with a specific FX instrument such as USD/JPY. It is equally plausible -- quite common, in fact -- that IG's IT people didn't understand the real cause of the problem at the time or simply misreported it to you.

I fully understand your incipient paranoia in this case, but I suspect that the real answer is much more mundane.

Incidentally, I have to say that MoneyAM is one of the most clued-up organizations that I've come across when it comes to dealing with this sort of problem and the resultant customer issues.

Regards, MM

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Action Forex
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Using COT Report To Forecast FX Movements
Fx Bootcamp Videos
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Pip Calculator
US Key Economic Indicators

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mg .... replying to your post of a few days back ..... 20700 is the ultimate target and it was most certainly not anticipated that it would be hit in the immediate future ..... however, unlike my shares which i trade, rarely keeping any for more than 6 months and often a lot less than that, i (our company) watch $ long term movement and expectation quite carefully as we always have surplus $ income ..... on a month/month basis we will sometimes hedge our known surplus and sometimes not, much depending on volatility at the time and pure gut feeling .... i don't recollect the company having got it seriously wrong in a very very long time.

MM

Many thanks for the reply. Must say I am a little more relaxed about the issue now, although at the time I was somewhat agitated. I will keep a close eye on proceedings in future, but considering moving to a different broker anyway.

pth

MM,

Just a thought re the calendar.

The page setup for the XLS file is such that it prints by default as a percentage of normal size. This could be the reason that you end up with 3 separate GIF's.

Have you tried altering the page setup so that it scales to 1 page wide and tall on the largest size paper (Legal) before you print the GIF?

I had exactly the same problem going the XLS>PDF>JPG route.

Hil,

Could you ping me an email (I assume your email has changed as you've moved ISP). The utility I'm using doesn't go via the printer/PDF route but extracts directly from the selection -- so paer size/scaling shouldn't make any difference. I've bugged the author . . . ;-)

D.

MM,

You should still be able mail me via my Pipex address. I understand what you're saying about paper size, but I figured it might be worth a try nonetheless.

MACD is still falling and the price action is below the falling MA, so it's not a long. I am conscious, however, of just how oversold it's starting to look.