Forex rebates on every trade - win or lose!

Am I missing something here?

yes Ruth it is rarely this trendy....but GBP/ JPY one of the biggest movers...
Not all days like today but
Yen does like to trend . this would be classed as a big big day..

Dont let my comments stop you getting excited though....lol

Cable quite trendy today - anyone trading it? I was short but closed at 2.0622

Foale thanks,thought it may be better than usual today,
superb today, still not got my platform back so only been observing not trading ,isnt that always the case:-)

morning all.

i see the reverals on all the pairs I am looking at - gbp usd jpy combinations all moved changed direction just after the uk maket closed.

I'm guessing that's no conincidence that what one might call an easy trade happenned just as everyone was packing up work in London.

still paper trading here. Don't know if i'm getting anywhere yet but i'm beginning to see the patterns more clearly

i receive fx news from time to time via my etrade news feed. one of the providers is Market News International.

Here's an example of what I get from time to time

MNI EURO-DOLLAR TECHS: Corrective Whilst Below $1.4625 Resistance
RES 4: $1.4855 Top of 22 Oct channel
RES 3: $1.4746/53 100% projection of $1.3553/1.4281, Life high
RES 2: $1.4695 1% moving average envelope
RES 1: $1.4625 5-day moving average & Former support line fm 22 Oct
CURRENT LEVEL: $1.4610
SUP 1: $1.4573 Hourly low
SUP 2: $1.4514/22 38.2% retracement of advance from $1.4127, Hourly low
SUP 3: $1.4420/25 21-day moving average, 23.6% of $1.3366 to $1.4753
SUP 4: $1.4375 Low 30 Oct
COMMENTARY: Euro is struggling to recover above $1.4625, which is the
value of the 5-day moving average and also the former support line from
October 22, which is now resistance. Whilst below here, the risk is on
correction lower to $1.4420/25 area, where former is the 21-day moving
average and latter the 23.6% of $1.3366 to $1.4753 move.

It;s quite helpful whilst I'm learning but what I would really like is a site I could go to and get this sort of info for free. Obviously I could register for a free trial with MNI but I'd really prefer something more permanent where I could just go and have a look on their website and see what their commentary is.

FXCM - Daily Fx. Lots of other sites as well

Hils - can I swap you my cerise rouge for your cerise noir please?
Bored with this now :S

bored? - i've waited all day for eurchf to come back to the trend line. Let's see what this paper trade does. long at 146.17

It's certainly a bit lot tedious this afternoon, Chocopops. I was thinking of painting the rest of my daughter's carpet to bide some time.

torturous day here,entires not been too bad, but far too many of them and crap exits, back down to earth with a bump, like all trading there are crap days, my system is going to need fine tuning to take into account sideways trading and the false signals they generate,if ive taken my profit its been far too soon, if i never closed it was a mistake, just one of those day,
think i need a afew alchopops tonight

Done the same thing myself today Ruthie - not closing soon enough.
Knew where my exits should be, but I hung in, not realising it was going to be one of those groundhog afternoons.
Twit :S

Hilary, is that with nail polish using a nail polish brush?

This is all a bit choppy this morning.

Nice and sunny here :)

The sea of forex has big waves though.

surfs up!

question for you guru's

below is a copy of a report I get from cmc every day.

it show's cmc clients net fx positions.

eurusd short 10 days held
audusd long 7
gbpusd short 10
gbpjpy long 9
audjpy long 9
eurjpy long 1
eurgbp short 10
usdchf long 10
nzdusd short 10
audnzd long 10

I looked at gbpusd in particular. it's pretty clear to me the trend is up longer term
yet cmc's net client position is the opposite way round. There's no way I'd be wanting to hold a short on that one at the moment over a 10 day period (or frankly any 10 day period over the last few months).

There;s also some additional information that of that average 10 day short position between 95 and 100% is placed short.


Now I know cmc punters don't make money but they can't be that bad surely ?


Have I misinterpreted this? Is my analysis completely wrong? or does this give me hope that i've actually got a chance of making money as i'm trading with the trend rather than trying to fight it ?

I suspect it's the 'it can't go any higher' brigade ........... but it can and it did.

From what I can see, 10 days ago Fiber was as low as 1.44. The shorters are still waiting and hoping.

lot of money being spent trying to keep cable at 2.0700 atm