Forex rebates on every trade - win or lose!

I just trade a trend until it stops me out...

I would not dream of looking for 10 pips on an FX trade..

I dont "scalp" forex. I position trade it... I look at 1 4 and 8 hour bars

I get into a position slowly..and then add a bit and wait for it to stop me out using some support and resistnace lines mainly. sometimes that stop leves me with a profit...other times its a loss..

The real money is made by leaving it to run...not by taking 10 or 20 points here or there.. Of course that applies to other instruments too imo.

saucer bottom 1.9650 with a rally to 1.9800 or are we setting up for another dive..to 1.95 (Hey it rhymns lol)

To save you ploughing a lonely furrow Foale, also long here from early doors today.

Went short from 750 and looking to reverse around 690.

It's going to be interesting to see over the next two or three weeks whether the Dollar has got enough va va voom to break the upper bounding line of the downtrend at around 83.25 or if it will resume its downward journey.

Doubled up my cable short @ 740

added to long...

eldests Sports Day today ..so thought would be a bit competitive..

Still long here from 737. Interesting times ahead!

You can only trade what you see and at the moment, imo, the 10-minute and 1-hour cable charts both point to longs. Sterling seems to be out on a limb though, as fiber, Swissie and Jappy are all saying the opposite thing against the Dollar.

edit: I wouldn't be surprised to see meggers win this one.

Also, I would've thought that Big Al will be hawkish on interest rates when he speaks a bit later on. The markets still pay more attention to what he's got to say than Bernanke.

Hils
Given that it's sports day I must emphasise that it's not the winning but the taking part that drives my trades - yeah, right !!!

Certainly not a done deal either way - only wish I'd shorted the Eur/USD - would have been a better trade.

Frustrating innit.

Yup
Will wait to see what effect Greenspanner has on the price but hovering over closing the trades at level/slight loss. Only half an hour before he stands up - zimmer permitting :(

Hi everyone, Hope your all keeping well. Been away for afew weeks, daughters halfterm and eldest son has just finished his final exams at university last week.

Currently short swissie at current level and watching the euro. Missed my entry on cable due to internet problems yesterday. See cad has stayed strong, like to see a nice pullback on that one

Quento - interesting posts, just trying a demo on metatrader as well

hello everyone.

Just a few words to say i'll be joining you good folks on this thread.

I've been trading day-trading stocks for the last 5 years but sadly the good times are over doing that. The order book is now so thin that getting in and out of positions is really hard work and on the wrong day on the wrong stock it can be very painful.

In addition the marketmakers are alot more switched on than they used to be - 5 years ago I had a system so simple I could have taught anyone with an 'o' level it in about 30 seconds - and it worked really really work.
But 2 years ago I reckon it would have needed about an 'a' level and about 10 minutes but it still worked really really well.

Now, whilst the system isn't useless it doesn't produce 100's of trades a day to choose from - just a few and they don't always work. I can still make a living trading stocks but I'm looking to move on as the lack of volume is a real trading issue for me.

I really really lke the idea of FX because I don't have to worry about volume and I can use stops unlike with stocks.


There's an awful lot to learn here and i'll be taking my time to get it right. I'm not looking to scalp here - i'm looking to catch the trend and stick with it.



so, first question. I need something to give me some charts. I'm not looking for anything special - just something I can draw lines on with rsi and macd.
The most important thing is that I want the lines I draw on today to still be there when I open it up again tomorrow. I'll pay money for charts if I have to but don't see the point if there's something free that is perfectly adequate


Bit annoyed I didn't catch a long on this today when it hit 1.9700 on the uptrend line at 9:30 today. easy trade with hindsight - just need to get some more confidence

Looking for something a bit North of 1.9800

long from the bottom that formed at 1.9634 then added at 663

moved stops close...

EDIT : ok out and flat 1.9771

after the spring up from the short term oversold...starting to feel
like coin toss...

Just closed at 1.9781.
Think it needs another run to get through.

Which means I'm still looking long ;)

Welcome CashChappie ;)

Welcome Captain :-)

Stop moved to b/e - possibly a little tight but want to keep my powder dry.

CC you are very welcome... someone I have actually met...


ok....free charts...no need to pay for FX charts...imo

I use

Daily fx Ppowercharts

you can save you support resistance and squigely lines for each currency pair here
and also differnt time frames support resist etc lines are saved for each instument

as well as your macd and all that ...just download it from there