Forex rebates on every trade - win or lose!

It was Wednesday last week I think edit or possibly the Wed before - but I think last week.

Goforit,wed 17th oct the thread was
very choppy afternoon so far ,stocks are the same as are the indexes
Is there any forex pair that does follow an index or are they all absolutely independant and dont care what the indexes are doing?

Ruth...to help you with the news thingys mentioned earlier take a look at www.forexfactory.com
It has icons that generally reflect how they think the news will move the market....red being what you would expect. There are also lots of news guides posted there as well...and Ruth, especially for you it's free. Hope it helps.

Thanks, really appreciate all this help,

Ta Ruth, been away the last couple weeks so missed that

mg

oi!! Wots this 'ello sailor' stuff?

pth
Takes one to know one sailor boy :)

All those days away at sea - desperate for a bit of cable - I know what you boys like !!!

mg..........you're not mates with torres are u?

Hi Ruth,

On the Ib commission side this is how it works (I think !!)

Most Fx brokers trade in Lots 1 full lot = 100,000 usd which = 10 usd per pip.

Ib use the dollar amount rather than lot size so your order on Ib would be for a 100,000.

the commission on a 100,000 trade is $2.50 per side ,so it would cost you $5 for a round trip, which is the same as adding half a pip to the spread.

One thing to aware of with Fx brokers is that most of them are like CMC, bucketshops they make there own market and you are trading against them. The only retail ECN brokers that I know of are Ib and EFX who both charge commission so they dont care what your position is and wont try and run your stops.

On the subject of stops with IB there are different trigger methods you can set up ,BUT you will get slippage so be aware of that, on the plus side sometimes the bid/ask can go through your stop and not be triggered as no trades have taken place.

I always place a disaster stop when I enter a trade even if I plan to close the position manually just in case I lose my connection or have a power failure which happens now and again here.

As for getting 50 pips a day ,if you can do that without a big drawdown you could be a millionare in less than a year, thats the thing with FX you can trade huge positions and get filled, if you look at the IB order book there is often 20 mil on the bid/ask which would equate to 2000 usd a pip !!!!!!

But on the otherside it can be very unpredictable and very costly if you get it wrong and dont get out. (as I have found out a few times )



Ian

There's your 50 pips for the day, Ruth. In 50 minutes on cable. Perfect signal from your arrers at 6:30am.

Morning, did I miss anything?

:-)

edit - just looked - lovely signal !

It's the early bird that catches the worms, Seymour.

:o)

hilary. I watched euro yen this morning.. the signals were great there too.
Am finding this forex thingy more interesting than stocks too...

I'd expect to see a retracement give another signal before not too long, mejulie.

Time for a quick 500 calories on the rower while I'm waiting.

:o)

Hils.. thanks... enjoy the calorie burning;-)

Buderim, many thanks
Hils, i was still in my pit at 6-30 am, but what a lovely move that was

Just did my first cable trade on the arrow thingys round 8.00. As I am using IG inidex and only tried 0.50 per point I entered at 20725.8 and exited at20727.1 for a first profit,( albeit only a pound or so;-))

Hi All,

it has been a quiet Asian session (always is if I bother to watch it)

I have been playing with my spirograph again, and it gave another nice entry,

The markets have had really good breakouts the last couple of days,I wish it was always like this.

Can I ask you what time frame you use your arrows on ?

Ian

Jules
Good on yer sport -and welcome to the wonderful world of FUREX.

Unfortunately missed out on this morning's arrars but have had a long running since yesterday afternoon from 670 (a 3 minute virtual arrar) so a very happy sailor baiter - grrrrrrrrrr.

mg (Scourge of the high seas - ooo arrr, oooo arr)

Trick or Treat for Halloween from the Fed tonight? The treat must be pretty much within the price now.