Forex rebates on every trade - win or lose!

yep mng mg sometimes the setting of enrtys and just walking away does work quite nicely.......

Mostrader, thanks. Well, I think I can afford a little more than 1pp but will have a go at this level just for starters. Thanks.

Jeff
Thanks BUT that's the danger - the MOTU effect (Master of the Universe). Hence the comment about not feeling "this is easy" - once I start to think that I usually begin to believe that the market must be wrong and I am right - illogocal, irrational - COSTLY !!

It's knowing when you are trading confidently as opposed to arrogantly. Bit like the difference between genius and madness ;)

seymour , to be honest dont worry abt the cost a 1pp is fine,just get a feel for it its sitting in a range @ mom
87 85 low for past few days support @ 8810/20 88 50 pivot res 8885/90 and behind 8917 just print a chart of and see how it moves..

try to think in terms of tics...ie ill try to make 10 tics a day and then once you make that just increase your stake,but 2 start 1pp is fine...
mos

any one else got a few tips for s.c

EUR/USD

Strong support is seen in the 1.305/10 area followed by 1.2983. Resistance starts at 1.3040 and is followed by 1.3070,
1.3095 and 1.3125. Keep an eye on the today events.
Current quote is 1.3022

Recommended trades:

Short at 1.3040/50, t/p @1.3, s/l @1.3070.

USD/JPY

The pair has breached the resistance key of 103.95 during the Asian session and we expect a rally above the second important
resistance level of 104.37. Current quote is 104.24

Recommended trades:

Long at 103.90/104 , t/p @104.65, s/l @103.85

EUR/JPY

A rally towards the first important resistance key at 136.11 is a possible scenario but after a small consolidation.
Current quote is 135.65.

Recommended trades:

Short at 136.05/10, t/p @135.75, s/l @136.30

Thanks mg and mos - quite happy with the "tics" thinking - done enough of that with stocks so comfortable there. Yep, I'll have a go at 1 pp. Have been getting up early (6am ish over the last couple of weeks ready to watch and see - making paper trades) but still not confident enough - cmc charts - need I say more!!!

SC, no advice I can give you, bit of a beginner at FX myself.

Long USD/CHF 1.1956

Off to work, have a good day

Placed a cable buy position in @ 18780 and a sell @ 18860.

Still running my open 18880 short (stop @ 18860) - with a limit sell @ 18780.

Pulled the short on that bounce - out for +40 though - so no pain no gain ;)

Long from 18830
[EDIT - Mr. Whippy time - probably should be sitting on my hands - think it might be MOTU effect - must make sure I don't stay in much longer]

Morning. Closed cable long for +10 last night (thank God) Still small stakes, but feel I'm getting the feel for it.

Closed the long for +40 - maybe I am the MOTU ;)

mg..well done mate....

Maybe not - could have had another 30 points out of that - BUT I am a Cautious Charlie ;)

Thanks mos.

shrt 89.00

mg it all counts...theres always always going to be another oppertunity..

Well, I know I shouldn't but EUR/USD seemed to be lagging a bit so I'm now long from 13025

[EDIT - is this my Waterloo - or should that be Portaloo ?]

true mg..ive jobbed the cabel covered sme @ 88 and 90 leaves me shrt ave 8921..so ill sit with that and see

Seymour

One thing you must be very disciplned with on forex although you probably realise this already is stops, there can be some very large and very sudden moves for no obvious reason. It often trots along in a 20/30 point range giving you lots of oppourtunities for 10/15 point scalps so you dont bother with stops as you think well Im only scalping and all of a sudden you can be 100 points to the wrong side. I know because it happened to me many times when I started with forex.
BTW I use CMC spreadbet and find them much better for forex than I did for trading stocks

dav agree mate stops essential and be prepeared to lose money that hwat they are there for...