Forex rebates on every trade - win or lose!

It's just an indicator that I've been spending 90% of my time tweaking, Go. I've called them the Delboy and Rodney lines. The Delboy (that's the Cadet Blue one) line is only for She Who Dares. Not surprisingly, Chocopops likes it.

Hope you gave golf a miss yesterday. That was some move.

:o)

h, certainly did give golf a miss, said i thought things were a bit toppy. Had a signal(new system i been working on) to go short on eur/usd, managed to get in above 700.
is there any additional info on the scalping, not an area done much to before on fx. indicator i like that seems to be rarely mentioned is williams%R, seems to be quite predictive.

monitoring usd/jpy for a short at 113.00/20 area, should be a fair amount of resistance here

Well now that everyone is totally hacked off with trading on the Stockmarket and moved over to FX I thought I would have a look myself. Someone said recently that the trends are more obvious and for my style of trading that is what I require. I have had a great spell on the FTSE over the last few months but that is looking more suspect now and I need to look for other ways to make profitable trades rather than blind guesses that the markets will move in my favour. Sticking the pin on the board and hoping just doesn't work.
I think I'll have to follow up all of the "Useful Sites" mentioned at the top of the site for guidance as a starting point. However, having followed the rise of the and Euro against the (mighty??) $ for the last few months I am interested on what you experts consider will be the turning point. I read somewhere that the /$ could get as high as 2.20 but that presupposes no governmental influence and I doubt we shall see that level. All depends what our tame Chancellor Mr Darling is allowed to do by G Brown Esq.
TT

Wish I knew how to paint my nails without getting the stuff all over me.
It would help pass the time right now blowing them dry.

Hello TT ;)

Well when you've found out, Chocopops, could you let me know so I can tell my 13 year old daughter. Also, if you know anywhere we can get a new bedroom carpet ............

:o(

choccy.......get someone else to do it

You've just reminded me, Hils - does anyone know how to get cerise rouge out of a Chinese? :S

Cerise Rouge?!? That not on menu! Why you no have a number 45 wif egg fried rice. (As from Mountain View, home of some of the best Chinese restaurants in California.)

Just got in to see that one of my magic number shorts has triggered - 21112 - it's quite a big one (for a little 'un like me) so hoping it does the biz. Otherwise I'll have to wait for the other one - 21212 :)

Nice one little meggers ;)

Just closed some EUR/JPY shorts I left around midday (I'd left a limit at 164.50) it didn't quite get there now - probably twirly, but tomorrow's another day of fun, eh what.

Got a bit tied up earlier not painting my nails, gofe - but the boys in this household know less about not making a mess than I do.

And a few lucky cookies would be nice, Dezza ;)

Rather good timing Choc. I didn't see that coming whilst short myself.

could be expensive tapas......, went short usd/jpy earlier ave 113.10, cashed in 1/2 for 50 pips and stop at break even.

Harlosh, are you still P&F'ing

Done for the day. 3 cable & one USD/JPY. Managed to accidentally close one cable trade out for a small loss whilst setting the stop. Doh!!

Ruth - 30 Oct 2007 09:48 - 8593 of 8837
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


Ruth,

I know some of this has been covered already but this is how I see it.

1ppt = $21,000
10ppt = 210,000

0.2 basis points is equivalent to $210,000x0.00002= $4.20 per trade or 2 a trade if you like.

If the spread is 1 pip the commission adds an exta 0.2pips to each side giving a total spread of 1.4pips which makes it alot cheaper than your average spreadbet company for eurusd or gbpusd.

but are you sure all the spreads are 1 pip esp for gbjpy? Because that would give a spreads of 1.4pips vs cmc 8 which seems fairly drastic.


I know it's an old question but do others use to trade with? I've looked through 500 odd posts but it's going to take me hours to trundle through another 8000 (something I am doing slowly as the more information the better)

really made up, just had my best forex trade too date , shorted the gbp jpy at 237.33, closed for 101, sorrry to post after the fact i know thats naughty, but i was on the phone to sputnik and he can vouch for my short, ive probably got out too soon, but i was so excited at getting into the 100 points bracket
im now only trading if the 1,3, and 5 min trends are all in the same direction, obviously the 1 min changes regularly and thats my cue if it goes negative or positive and the 3 and 5 are in the same direction,
its working for now,


looking at the chart now i was too soon, hey but you cant blame a girl for being premature while shes a newbie,i could lie and say im still in it, but i closed :-(

CC, ive been messing with my friends cmc account while im learning, but on the times i have watched ib, most of the time the spread is 1 point, at times it does spike out but seems to come back to 1 quiet quick,
hope this helps Ruth x

CC, ive been messing with my friends cmc account while im learning, but on the times i have watched ib, most of the time the spread is 1 point, at times it does spike out but seems to come back to 1 quiet quick,
hope this helps Ruth x

Hils, ive discovered something else very very interesting with the arrows, only on the entries though, very reliable so far , will post a chart later tonight with some text boxes added to explain, works superb on the dow and ftse futures and us stocks , not tested it too much on the forex yet , but from the bit i have done its looking good,am going to spend an hour doing some backtesting on sunday when other half is watching footie,

well done Ruth. Got closed out of my remaining half of usd/jpy for 150 pips, as dont want to hold over wkend, looks like its got alot further to go!