Forex rebates on every trade - win or lose!

Hi Hils,

Gingertown - lol (sounds like somewhere Chris Evans would live)

we are 10 hours ahead at the moment , I have been looking at the Asian session around 1 am your time, but i think I will wait until maybe 6-7 am when Europe wakes up.

Bud,

This isn't an exact science (if it were, everybody would be doing it) but, as a general rule, markets tend to be at their choppiest around the time that a new timezone comes into play. Once that's happened they tend to move into a trend.

Between 6am and 9am (UK time) is often good to play the 1-minute chart with some superfast settings as the Asian trend is tested and either pushed further or reversed. Once that's happened, it's then time to just sit back and let the trend run until the Yanks wake up and the same thing happens over again.

The eur/gpy is hard to trade this morning very wippy.

Do you mean JPY? Tight range. No meat on the bone. It'll break.

Sorry yes JPY been trying to short it from 161.80 ,still got 40 out of cable on that drop
from 2500

Thanks for that hils,

I will have a look at the European open .

Ian

"This isn't an exact science (if it were, everybody would be doing it)"

judging by the traders thread everybody IS doing it...

Still plodding away, to be honest finding it a bit more difficult than i thought, on the good days its fantastic, on the rangebound days the whips are frustrating me,
its just a case of getting the balance right, Rome wasnt built in a day was it,:-)
will keep plodding along till i get my timeframes strategy right,
think ive got to switch more longer term instead of my usual quickies,
Like Hils, i like a good quickie now and then, but sometimes a marathon is more effective:-)

the Forex day does have a pattern as Hils says.

Early doors probes both edges of current range for direction...then off it goes for most of the am

An interesting read over on Forex Factory.

http://www.forexfactory.com/showthread.php?t=56670

The trader that threw money management out of the window and took his account from $1,000 to $126,000 last week.

It certainly appears to be genuine. Nice to see that it can be done.

I like the fact that he finds trading this way 'relaxing'. I wonder what he does to produce an adrenalin rush ;-)

this is the other side of Forex Ruth...rangie? rangie?...all day....

Its a futures day....

right - now that the uk has closed could the dow put on a 100pts please so that i can make some dosh on my usd/jpy long.

It has everything to do with my frame of mind today - signals have been good, but I really didn't want to bother trading EUR/JPY up and down. Down should've been enough ;)

I was so convinced it wants to retrace to 160.80s - had b/e stops and limits several times whilst I was doing other stuff and ended up with nowt.



Bummer ;)

Love the pic but dont get the connection....was it "frame for mind" was get naked in a photo kiosk ..lol

Hils re your comments on the traders thread re moving over to forex...those that were using CFD's to effectively gear up Investment Longs...are going to find it tough....

Scalpers are going to find FX tough too...as not easy to use that as only way to generate profits in FX

those that trade (not scalp) indexes might have a better shot though..as they ride a trend.....

But the sloppy or no stops types regardless of the above are not going to be around long... as gearing on FXCM under 10k a/c up to 200:1 as you know so 10-20 times the leverage of Index trades...and more than that compared to 250 stocks and tiddlers...

My tip if you are new start trading 10k trades....and stay at that size for a long while...margin on a 200:1 leveraged a/c is only 50

With you on the margin Foale.

According to my broker there's a pattern with traders who don't make money or make very little money.

First they start with stocks and blow their pot.
Then they blow the pot again

then they move to indices cos the margins are lower.
and they blow the pot

and lastly they move to fx cos the margins are tiny which is their last roll of the dice. And surprisingly enough they blow their pot.

Choccie:

Nice pic. But when I looked up I realised it wasn't you after all ;-)

A girlie always knows a nice bum when she sees one :)

Woke up a couple of hours ago to the drone of someone talking about the markets :S and I is cookin' on gas.

Btw Hils - that eye thingie's come up again with a no entry sign. Think it's this site.
I'll stick a shot up later so that Dezza can have a glotz.

Chocopops,

I've had terrible problems with it since I first mentioned it after it had updated a couple of weeks back. For some reason it did something to my firewall and things then started grinding to a halt.

I tried to uninstall McAfee but, unfortunately, it wouldn't even let me do that. I put "uninstall McAfee" into Google yesterday and it pointed me to a removal tool on their website which I downloaded and ran. That did the trick and I then reinstalled McAfee.

Things are a lot better now.

It's nothing to do with AM, as I don't use the PC in question to access this site.

Cable finding buyers....any special reason this am?

dollar weak on back of rumours about tonight's Fed meeting. At least that's all i can find. Seems a bit odd the market can move this much on a rumour but i remember last time when the Fed cut the discount rate it was well leaked before hand - so are the minutes explosive ?

but that doesn't tie in with the eurjpy move so I no understand.

Keeping out now cos I don't understand. Already lost two thirds of yesterday's pips by undisiplined short on eurjpy. all just seems a little odd to me