Forex rebates on every trade - win or lose!

Whilst you 2 are playing with your Java thingies I have gone long again @ 580 (on cable) based on a 3 minute chart.

Did you change the batteries on the model 2 or 3 - they don't go on forever you know :)

Old versions and updates of Java remain installed on your PC. If there's a problem with the update, you can remove the current update through Add/Remove Programs in the Control Panel and it will roll back to the last update.

meggers!!!!!!!!!!!!!!!!!!!!!!!!

Here's a java bunny - don't think it needs batteries like yours do



Goodness me Hilipoo whatever did you think I meant :)

Berlimey - super speedy fast or what now.

I is javin' ;)

Told you to change the batteries - you need it for that poundyenny thingimibob - like a wotsit in a watchamcallit.

Oh I wasn't offended by talk of the Rampant Rabbit, meggers. It was because you broke the Rules of the Arrers.

:o)

Hey I did ok on the old java too :)

Short again from 236.51.
Missed the topette there cos I was still javin

Looking at my arrers now., hopefully soon....

I'll probably be inside someone's eye (as we say in the business) when it happens

Oooops - sorry about breakin' the rules - got a bit carried away with me arras and fired one off by mistake. I might have got away with it 'cos one's appeared after I buried mine in the sheriff.

Won't do it again Maid Hilarian - honest - but all this Lincoln Green is makin' me a bit sick.

Took a little cable long earlier cos those arrows told me to, nice :-). Not a huge profit but they all add up

Got away with it - took 40 points out of the blighter - but it got a bit nerve wracking after the Maid reminded me of the error of my ways 8-)

Hi Guys /Girls, just wondering if someone could give me a bit of help, im confused,
im really fed up with all the nonsense that goes on with uk stocks, im not mad keen on the usa hours even though its really cheap to trade and they trend well,
Obvioulsy the other viable option is forex and im only just seriously looking into it, wish ide done it years ago to be honest, but live and learn hey, anyway im seriously looking at getting into forex and sacking the uk stocks altogether,they are seriously hard work at times.

Is there any tips re forex , ie a time of day its usually more volatile than other etc, that sort of thing,or is it random, whats the most popular consistent timeframe for the trend,ive been looking at 1,3,5 min,
i will be looking to scalp in places but also stick with the trend when it goes,
Obviously a really good daily calendar is essential and i can see Hils kindly posts one here, is there any other tips you guys/girls can give me?


Been looking at interactive brokers and their commission etc , seems very cheap to me, but im easily confused, not sure how they work out the value etc, im hoping someone can help me out,

heres their rates, looking at the quotes the market spread is usually 1p on cable and 1p on gbpjpy plus their commissionTrading Currency Monthly Trade Amount(4) Commissions Minimum per Order Examples
IDEALPRO (Trading, trades > USD 25,000)
< =USD 1,000,000,000 0.2 basis point(3) *Trade Value USD 2.50 USD 50,000 daily volume for EUR = USD 2.50

USD 1,000,000,000 daily volume for EUR = USD 20,000
USD 1,000,000,001-2,000,000,000 0.15 basis point(3) *Trade Value USD 2.50 USD 1,250,000,000 daily volume for EUR = USD 23,750
>USD 2,000,000,000 0.10 basis point(3) *Trade Value USD 2.50 USD 2,500,000,000 daily volume for EUR = USD 40,000
IDEAL (Conversions, trades < USD 25,000)
All 1 basis point(3) *Trade Value




so in theory if i wanted to do the equivalent of say a tenner a point on gbpjpy how much would that be trade value, i get confused with the decimal points etc and how they price it?
would that cost me just 2 dollars 50 each way? if so that means i only need a point to be in profit? or am i barking up the wrong tree,
is there better options out there?
sorry its long, but you know me,:-)

heres the link for ib in case the copied and posted bit is confusing,

http://individuals.interactivebrokers.com/en/accounts/fees/commission.php?ib_entity=llc

Thanks
Ruth x

Sorry forgot to say , on the link it defaults to the home page, the forex tab is near the top.

Hi Ruth,

I use IB , basically the minimum trade on IBpro is 25,000, which is worth $2.50 per pip .

if you want to trade the same as 10 gbp a pip that would be a trade of 200,000 which is the same as 2 full lots with other brokers.

ian

Hi Ruth, Best not to trade around significant announcements (I'm sure you knew that). Can sometimes need quite wide stops and nerves of steel for the whipsaws, but potentially very rewarding. Doesn't half trend well when it gets going as you have obviously seen. Some whipsaws. Your little arrows seem to be quite effective as you know. I've loads of other stuff on Fx but still very much a learner myself so will be interested in your input.

Buderim, so how would i input the equivalent of 10gbp into the system, and would it still only cost me $2.50 for the whole transaction each way, ?
in monetry terms how much would the equivalent of a 10 pounds a point trade be?

Seymour Clearly, thanks, it certainly looks very promising from all angles, costs, times traded, trends, etc,

Hi Ruth, like Seymour I am still a newbie at Forex but I will tell you this, I don't miss stock trading for a single minute. UK stocks, you can keep them !!

The early bird can quite often catch the worms. Today was a good example. Action when the Europeans crank up. If you can be sat down at the trading desk by 6:30am you stand a good chance of bagging some good pips and be out shopping by 9 !

It didn't happen this morning, but watch for a reversal when London kicks in around 8am, the 'Frankfurt Fade'. The London boys often do not like what the foreigners have done to their currency pairs.

As Seymour says, keep out just prior to major news announcements unless you like a real rollercoaster gamble. I find a good entry time is around 5 minutes after news, watch for a bounce off of the 3 or 5 minute 5 or 8 EMA and go with the flow.

GBPJPY is not called Godzilla for nothing. This pair can move 50 pips before you can say 'Gordon Bennett'. EURJPY can be a safer bet and often tracks the wild one.

USDCAD is not called The Loonie for nothing either. Tends to track oil though, CAD gaining strength in line with oil. It's worth watching on Wednesday afternoon with the oil report. It often lags the news, taking 20 minutes or more before it reacts.

AUDUSD tends to track the commodities, gold in particular. I like this pair. It often trends well intraday and tends to take the lead. Look at a 5 minute line chart around 6:40 this morning. Who gave indication it was reversing first !

If there has been a good trend during the day you can watch for some profit taking around 4pm when London winds down.

If you are holding overnight do take a look at the interest paid/received. Going short on some of the pairs attracts interest.

Historically, from what I gather, the early part of the London session tends to trend better although watch for some stop running around 8-8:30 before a trend takes hold.

The New York session around 2pm onwards tends to be choppier.

The liquidity is so vast with Forex that you do not need to make hundreds of pips per day. If you can become consistent then 10 pips per day average could make you a fortune, simply by gradually increasing the lot size.

I use Trade The News (forex audio and text version). Excellent for news announcements and keeping abreast of fixed income and forex markets. I wouldn't trade without it now.

Edit - forgot to mention. There is only one opportunity each week for a gap open. From the figures I have seen a gap open Sunday night is closed over 95% of the time, often prior to the London open.

Welcome to our girlie thread - only females and cross-gender allowed on here. I don't think the rest of them realise that we closet traders exist - Bullie would be a more regular contributor if only he knew.

Being a simple soul I only use IG to trade - 2 pips on EUR/USD, 3 on GBP/USD but 8 on GBP/JPY. If you are only scalping a few points it probably serves to use something like IB - but I would have thought you would need to be trading with larger stakes than a tenner to make it worth while.

IG have quite a reasonable charting package as well - see below

I have traditionally used good ole MA and MACD but also have Stochastics, Parabolic SAR and, since chocopops pointed it out, the Williams %R - as per the chart below. Even more recently, I've been trying to use your little wheeze - by eye rather than having Robin Hood accuracy.

Apart from that, early morning usually gives an idea as to whether it's trending - so offers an opportunity (using your little technique) to try and get in when it looks as if it is bucking the trend - but basically - hopefully - simply giving some back against the trend. Very difficult around announcement time - spreads widen and all sorts of gyrations and, unless you are very quick (and very good), you can be badly burnt - both ways so, as Seymour suggest, best to avoid until there is clarity of direction.

Been at it for a couple of years but wouldn't say I'm consistently good at it - but it's a great buzz for a gambler like you :)

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EUR/USD has been asleep for the last hour - been short since yesterday from 424 and 412 - so "in the money" - but may take it and look elsewhere for some action. Gotta find some way of giving it back :(

EDIT Ooooooops - spoke too soon - either an opportunity to add or bolt - will give it a while before deciding