Forex rebates on every trade - win or lose!

kajman hi..I do euro $ atm
just to be different..

look for prce extremes early in the am...7am!
FX spends a lot of time doing small moves and retracing..
then suddenly a big move explodes from nowhere...

its a good marget to grab a few points all the time with tight stops..
but dont turn your back on it

Most fx traders have strong bladders or no positions!
Good luck

Stops essential
this market takes no prisoners

Kajman,

Another important point is that the currencies are very highly correlated so I'd recommend not trading more than one at a time, since that effectively just increases the size of your position on the same risks.

Doug

Hi David, thanks for the tips. Regarding the bladder problem - my desk is directly over the bathroom so maybe drilling a hole in the floor and adding some pipe work would be useful :-)

foale - one word of advice: catheterise!

3:53 pm 31/03/2004
*FX TRADER: RUMOR GREENSPAN IS ILL DROVE EURO-DOLLAR UP

all the action on FX today
yet no one is posting

Hilary must be off

LONDON (AFX) - The dollar fell near to its low for the week against the euro
on the back of vague rumours that US Federal Reserve Board Chairman Alan
Greenspan had fallen seriously ill.
The euro reached a high of 1.2301 usd before settling just under 1.23 usd
from levels around 1.2220 usd at 1.00 pm BST.
"The dollar has fallen on the rumour," said Neil MacKinnon, chief economist
at ECU Group.
The US Federal Reserve declined comment, with spokesman Andrew Williams
saying only that "the Fed does not comment on market rumours."

Factory Orders where bellow expectations as well..

Well the dollar weakness in the past hour or so has given Gold the nudge it needed to get up above $425. Now trading at an 11-week high.

Doveish comments about the Euro. Mean possible Rate Cut tomorrow. All speculation and rumours though. Rate change tomorrow would signal a big drop against the dollar.

Going Long EUR/USD - Its breached my 66% retracment signaling a change in trend. Could be a force signal but my gut says up..

USD/CHF. Rumour is once it breaks 1.2680 (1.2673 @ 18:54:11) it will rally hard.
not stopping till 1.2760+

The head and shoulder formation on GBP/USD seems to have faded away. Looks more like a triangle pattern now. Currently hung up against the downtrend line originating at the minor peak on March 1st. If we can breach 1.8475 it might be a breakout.

Of course there's still the resistance at 1.8500 to overcome, as well.

Wow. Cable moved up to precisely touch my trendline at 1.8463 before retreating overnight. I've got to be careful or I might start to think I know what's going on.

Careful.. Thats the downfull of us all.. When you actually start thinking your right.. Thats when it will double up against you.

Still Long EUR/USD. Went Long GBP/USD as well at 1.8410

Closed out at 1.8480 for 70pips

Seeing a breakout now of the triangle pattern. Waiting to see if we can break 1.8500 now.

Closed Euro at 1.2327 for 50pips.

I think there is to much selling in the market still. May be a while before it takes off.

In the same way there would be gains to be made in the GBP/EUR.

Spot Gold is through the Roof..

Not for long, unfortunately. Pulled back now to around 425. A slow day, unsurprisingly given the gains over the past couple of days. It's going to need a short rest before pushing higher.

Looks like it's time to sell cable guys! Imo of course.