Forex rebates on every trade - win or lose!

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!

Ruth, congrats on that trade.
As I previously mentioned I am using Worldspreads and have come up with a way of having multiple windows open at the same time. You can't do it within one login. You have to login multiple times. With CMC you could only login once but WS are different. That means you can track loads of price trade windows on your many screens at the same time. The spreads on currencies are 1, 2 or 3 pips and there are no dealing costs so it may be worth considering. Plus it's all tax free!
TT

TT can you trade both ways on one currency at the same time

TT - are you suggesting it's not possible to have multiple windows tracking the same instrument with different timeframes on CMC ?

Goforit,
If you place one trade (in one window) and trade in the opposite direction in another the system will automatically close the first trade assuming that you had bet enough and leave any remaining bet open. I was trading FTSE with a small bet with the intention of leaving that open for the trend. If I then scalped during the day it kept on giving me partial closes and therefore funny profit/losses on each trade. I only place one trade at a time on the FTSE now. I also have other stock trades running in the background and they are shown in my open trades page.
Hope that helps even though on rereading it it all looks like gobbledy gook.
TT

Hotei, as far as I remember I couldn't but then I only traded stocks as CFDs but I don't use CMC now because of their charges. Also, I couldn't use their system in my office as it required an up to date Java and here I am running stuff that arrived with Noah and the Ark. WS works here at the moment and that is fine by me.
TT

Well done to the 1122 sell, Barclays have certainly spoilt the party.

Worldspreads very tight spreads 8AM to 4PM only (1 on Euro, yen and Aussie-think they widened on cable, but can't place attached orders until trade opened so no good for limits with attached stops and if done limits

thanks guys, just back in what the hell happened there, seems like i was very premature, couple more hundred pips there to be had,
hopefully i will get better with time:-)

moves seem to be on back of barclays rumours. market stablised after barclays denial of emergency rights issue.

however, cable in particular seems to be about to lose another trend line I don't see any sort of support for a while.

think I should be short cable but it's entirely possible it could come back to the trendline yet. break of the trendline which has now gone should quicken the downward move.

Not sure about fx yet. finding it difficult not to overtrade and finding it difficult not being busy all the time.

However made 68 pips today so far so maybe I should be happy to do nothing for a few hours ?

You weren't premature, Ruthie. You were sensible, cos you were going out, so well done you :)

As for little meggers - aren't you just the biz :D

Hey and you, Cap'n.
Welcome to the banana bunch :)

chocs
Thanks - pulled it for the moment - made 120 and looking for a re-entry 'cos I've got a support line which used to be a reistance at or around here. Could well go shooting back up beyond previous high - so maybe my other magic number will have a chance of triggering - or support will fail and the tumble will continue - we'll see.

I bet you wish you'd "seen the light" two or three years ago, Ruth.

:o)

I'll be interested to see your chart later. It might be worth your while speaking to Chocopops too about some of the work that I've spent 90% of my time on recently.

Hils, interested to know if you think the short term stuff is better than the longer term pyramiding? I'm only short terming it as & when & have been for the last 3 weeks.

edit - I'm going off stocks. Fx much more enjoyable :-)

CC, message sent - I have some of the interesting / educational posts from this thread saved.

Hils, thanks will do,
yes a cracker of a day today,
yes, should have switched over yonks ago,to be honest struggled wed and thurs, but ive sort of suused it out a bit more now,not only is it enoyable, its not half as stressfull as stocks as well,(touch wood) think its cause im not watching level 2 and am purely chart playing and not as easily distracted as i would be on stocks with all the false orders and bots etc,,
also been watching cable today as well as the jpy ones,not traded it, but wish i had, great signals today

Wouldn't you just know it - pulled way too early because of that support/resistance that I have had sitting there for ages. Never mind - there's always another day.

Well done Ruth - I wondered when you'de see the light and start playing with FUREX - can be a devil but I think you are disciplined enough not to get stuffed by it.

Seymour,

Firstly, I've never really considered myself to be a daytrader, diving in and out umpteen times a day. I've never really got to grips with it and I've never been any good at it.

I'm doing it at the moment simply because I've had more time on my hands since the summer and it's the best way I know of making money whilst keeping my clothes on. I've spent a lot of time recently developing a strategy based upon the 1-minute charts (I'd never really looked at them until this autumn) and it's only over the last few weeks that some things have started to make a lot more sense than they ever did previously.

That said, I've still only got it working properly on the EUR/JPY. Other pairs/crosses could still be some way off.

The answer to your question, I guess, is that it's too early to tell. I do like the idea of being able to come to the market at any time of day and just get on with it. For instance, the last 30 minutes (edit: it's actually 45 minutes because I got distracted typing this post) has seen 3 easy trades in EUR/JPY for 90 pips at a time when most people are thinking about their 2 hour journey home round the M25.

Ask me in the new year whether I still enjoy it. It's a bit of fun at the moment because I'm learning some new tricks. Generally though, trading doesn't give me any great buzz as it seems to do with some people and too long at the screen is no good for anyone imo. It's little wonder there's so many fruitcakes hanging around the internet.

It's just a means to an end.

Made me smile :-)

edit, thanks.