Forex rebates on every trade - win or lose!

Have you looked at sterling yen for fun, Chocopops. As soon as the ma's cross and turn and the macd passes through the zero line (5-min chart) it's time to press the button and hold on to your seat.

It's nearly as much fun as the Wall at Avoriaz.

not sure the wall be much fun today, but its probably got abit of that sexy white stuff on it, been raining allday wherever i've been, ended up in chamonix for lunch

Neat trick, Hils :)
Cheers!

Am I missing the point here? Why not just trade the break????????

GBPCHF - Hedging Strategy With 900 Pips in Profit Potential
Wednesday, 03 October 2007 17:07:45 GMT


Entry Zone: Go both long and short at the market if the price is at any level within the 2.3500-2.4400 range

Protective Stop: Long stop below 2.300 and short stop above 2.5000

Profit Target: Long Target at 2.4400 and Short Target at 2.3500

Profit Potential: 900 pips (excluding transaction costs and slippage)



The most effective way to capitalize on currencies pairs that are trapped in tight ranges is through the use of hedging. The hedging feature is currently available on all accounts using FXCMs No Dealing Desk service. For more information on FXCM hedging strategies please visit http://www.fxcm.com/hedging.jsp

Hedging Strategy of the Week



The GBPCHF is our primary target for hedging in the week ahead, with clear range-bound trade and concrete support and resistance levels. To hedge, go both long and short at the market if price stays within the above Hedging Zone. Take profits at R1 for longs and at S1 for shorts, covering losses above R2 or below S2.

Agreed Hils, I've read about this strategy on FXCM before and I really didn't see the point. Seems to me to be an ideal way of minimising your profit.

That's good, Seymour, I thought it was me. I've also been following their carry trade strategy. I couldn't for the life of me work out why they didn't offload their positions when the carry trade was clearly unwinding during the summer months. I seem to recall they lost around 900 pips one week.

Long EUR/GBP @ .6917 with .7100 target.

US Fed: One and DoneFor Now

The minutes of the FOMCs September 18th meeting showed that all members agreed that a rate cut of 50 basis points at this meeting was the most prudent course of action." Meanwhile, the central bank said that they would consider more options "closely" after the September meeting, but that all future actions depend on the economy and market developments. Given the improvements we saw in last Friday's NFP report, the timeliest economic data could lead the FOMC to leave rates steady on October 31st. Furthermore, there have been signs that price pressures are building via energy and food, and with the FOMC minutes showing that the bank "remained concerned" about inflation as a continued decline in the US Dollar could raise inflation risks, Bernanke & Co. may be hesitant to slash the Fed Funds rate again so soon:

FOMC Minutes from September 18th

Participants made only modest revisions to their outlook for inflation...and they generally were a little more confident that the decline in inflation earlier this year would be sustained. Participants nonetheless remained concerned about possible upside risks to inflation. Higher benefit costs, rising unit labor costs more generally, reduced markups, and levels of resource utilization both in the United States and abroad that remained relatively high were all cited as factors that could contribute to inflationary pressures. Inflation risks could be heightened if the dollar were to continue to depreciate significantly.

Richard Fisher, Federal Reserve Bank of Dallas President (Alternate-Voter)

The global economy is facing agri-flation, a period of rising food prices that may be more sustained than we would like and could last several years. October 5, 2007

I think things are clearly better than they were back during that crisis period in August. It does take a while for a wound to heal and this process of healing is still at workI don't think it is fair to say that the Fed has flooded the market with liquidity, which has gone straight into stocks. I don't think that is accurate. October 5, 2007

Frederic Mishkin, Federal Reserve Board Governor (Voter)

Clearly exchange rates are an important asset price(but) I have always argued very strongly that it is not a good idea to focus on asset prices like the exchange rate over and above the effect it has in terms of things we should care about as central banks. This is an issue right now with the highly appreciated Euro. October 5, 2007

ECB: Trichet Moves To More Neutral Bias

As was expected, the European Central Bank left rates at 4.00 percent last Thursday, but it was ECB President Trichet's press conference that garnered all of the attention. In his commentary, Trichet dropped the phrase noting that monetary policy remains "accommodative," and instead said that the central bank "stands ready to counter price risks" as "more information is needed to draw rate conclusions." In this, we can judge that Trichet & Co. are far less hawkish than in previous months amidst a combination of downside risks to growth along with upside risks to inflation. However, the Euro still remains lofty, allowing concerns of its impact on economic growth to percolate:

Jean-Claude Trichet, European Central Bank President

To sum up, a cross-check of the information...has confirmed the existence of upside risks to price stability over the medium term, against the background of good economic fundamentals in the Euro area. Accordingly, and with money and credit growth vigorous in the Euro area, our monetary policy stands ready to counter upside risks to price stability, as required by our primary objective. October 4, 2007

Erkki Liikanen, European Central Bank Governing Council Member

We must ensure that inflation expectations remain anchored in line with price stability. This is essential for sustainable economic growth and favorable employment development. October 8, 2007

Some ECB policy makers are trying to play down expectations for the G7 meeting on the weekend of October 19th, as many are wondering if the ECB or other officials will take the opportunity to talk down the Euro:

Lorenzo Bini Smaghi, European Central Bank Executive Committee Member

An exchange rate policy for the Euro exists, and so does an institutional mechanism to enact it. However, to be effective, the impact on markets of monetary policy must be quick, sudden. To move, it's not necessary to wait for a G7 meeting. October 8, 2007

Didier Reynders, Belgian Finance Minister

Inflation is very much under control. I think that rates should be held at their current level, with a view to relaxing the pressure later in the event of an unfavorable evolution in growth. What strikes me often is to hear ECB officials explain how the situation has changed, how it is worrying, without doing anything. October 3, 2007

DailyFX had some problems yesterday and, as a result, the iFrame with the calendar seems to be reverting to their homepage. Hopefully it will rectify itself with a little patience, otherwise Delboy will have to put Plan B into action.

In the meantime, does anybody know what's meant to be happening today? German Wholesale Price Index beat expectations at 7am and the Japs left interest rates alone.

Here's today's calendar. Remember that times are GMT and not BST.

Thanks Hilary, just so you know you're appreciated.

Have to confess I'm still on a break from Fx, mainly trying to capitalise on my other investments whilst the market's bullish & work very very busy, but will be back by the end of the month.

Seymour,

The thing with FX is that it's a seamless 24/5 operation. Whilst we talk here about 1-hour, 4-hour and daily charts and where it's headed in the days or weeks ahead, you can just as easily use the same chart settings that have been discussed on here and put them into a 1-minute chart for a few bucks before you go to work in the morning or when you're having your dinner in the evening.

For instance, there have been 2 easy trades in cable so far this morning and 3 trades in both fiber and Euro-Yen (albeit the middle trade was iffy, but you've got to be innittowinit). That's all since 7am.

I thought I'd better post on this thread, rather than the day traders - now I've returned to worship at the FUREX shrine. Short from yesterday finally looking good - but I probably need it to get back to 20200 to make up for my FTSE/DOW follies :(

Do try to keep up, meggers. I'm currently long from 10 minutes ago. At least one of us will be right.

:o)

Edit: Stop now moved to entry (2.0339). It's based on the 1-minute chart and will be my last trade of the day as the kids will be home soon. I'll see where it's at a bit later.

Oh Jolly Hockeysticks. Out for a quick half-cent. That's one and a half cents off cable for the day, plus the others. There's life in the old girl yet.

:o)

Edit: Ordinarily I'd have left it to run a bit longer, but I've been at the screens since before 7am, so I'm a bit tired and have had enough for the day.

Nice trades Hils. I'll get trying harder. He who trades Rodney....

16 trades in 3 pairs/crosses today, Seymour. Only 3 whipsaws and some tasty legs in between.



Exactly how Delboy likes it.

:o)

Tasty, very tasty.

I'm nore of a tantric trader Hils - none of this quick in and out for me - makes me dizzy :)

Love n' Peace Kinky Boots