Forex rebates on every trade - win or lose!

EUR/USD ;)

Thank you....THANK YOU, My Guardian Angel..:-))

And the answer to your next question is USD/JPY :)

Here you go Stormie, re Hils' post above:

http://www.goforex.net/forex-market-snapshot.htm

Re cable, this has been my reference line since Friday 13th.



Working well so far ;)

chocolat,

Now you are just spoiling me...LOL

ps, Re chart....if only you had posted that before I took the short...LOL
(but thank you anyway..:-) )

Almost forgot, long cable @ 848, as I try and rescue my worst trading week ever..:-(

Choccie,

It looks to me like Cable needs to break from that 1.7815-1.7885 range that it's pretty much been in all week. Hopefully then it might get some va va voom one way or the other.

Guess that was the va bit just now Hils ;)

2180 to hold on Fiber?

I've mentioned it before, but I don't know if anyone follows Sterling Yen. It's up around 700 pips in just over a week from the low and moving in pretty much a straight line.

Thanks Hilary, have missed that but have done no Fx for a while - looking again now.

1.29 has been capping the Swissie through Jan and 1.2040 has been supporting Fiber after previous resistance turned to support. A bit more Dollar buying could easily see those levels broken then it's chocks away Biggles.

Hilary. My 'computer man' in Tenerife has a colleague who seems to understand Forex pretty well, having done a fair amount of research on the internet. He intends to start trading (fairly big I imagine) and wants a 'guru' who he can converse with - he is willing to pay, but has also found a lot of free info out there. I can point him in the direction of brokers of course, including Saxobank and the links posted here. But have you any better suggestions, please? I imagine he would like someone to consult or bounce ideas off on a day-to-day basis.

I'm going to meet him next week, so will be able to trawl the net if necessary.

You can e-mail me via Moneyam if you wish. Thanks.
Maggot

PS. Have been watching Sterling/Yen... transfixed like a rabbit in the headlights! And have in fact just gone long (tiny).

Maggot,

I'm not really sure what to suggest to your man, I'm afraid.

There are obviously oodles of resources about FX on the internet. The vast majority of them though will offer a reason for a price move (often hours) after the event. That's obviously no good to somebody who's got his hand poised over the mouse because the price is moving and he doesn't know whether or which way to click it.

The Daily FX links in the header are good, imo, because they explain in depth upcoming events and consider the market expectations of those events, but they don't always evaluate how much of those expectations are already contained within the price.

Similarly the GoForex links are also good because 1 of the articles always seems to suggest a strategy.

Ultimately though, I guess that your man needs to identify a method of trading which will work for him. Like the majority of people here, I trade to the charts and many will argue that any news is virtually always reflected in the chart beforehand.

I must confess to being a bit worried for your friend as I got the impression from your post that he's not really a trader but fancies "giving it a go" and thinks that he'll make a killing by hitting it large. If that really is the case, then he'll quickly find himself as another unwilling member of the 90% club. If, on the other hand, he is already an accomplished trader, why would he need a guru to converse with as he'd know what to do anyway?

With that in mind, my initial suggestion would be to ensure that he understands charts and has got a workable strategy in place before he parts with any hard earned.

If he is serious, the 2 "must haves" are a TV with Bloomers, Sky News and GMTV (for the boring moments). Forget about internet Bloomers ........ it's cr@p imo. The other must have is Sqwark Box for news. The only thing that comes remotely close to it is the AFXU headline news.

Hilary (or anyone else), is there any reading you would recommend with regard to fx trading

Thanks for that, Hilary. I am meeting him next week so will get an idea of how accomplished he is. I got the message secondhand, so it may not be quite correct. I had the same worry you have about 'speaking' to a guru - as if someone somewhere knows exactly what will happen. Perhaps that is not quite correct. We will see.

Took 45 from the Sterling/Yen and overnight it seems to have run out of steam. So not touching Forex today, especially after the farm payroll figures. I don't understand exactly how to work out the effect they might have, so I stick to the simple trending charts.

goforit,

I can't specifically recommend any literature, although I like to read Gardeners World while I'm trading.

:o)

Read this http://www.amazon.co.uk/exec/obidos/ASIN/0904561194/qid=1139231450/sr=1-3/ref=sr_1_2_3/026-8377638-8245200

If hilary is anything to go by it should be a great help :-)

On the subject of books, has anybody read Bird Watching in Lion Country by Dirk du Toit Just had the first chapter e-mailed to me by Go Forex looks like a good read.
Been good on cable today.

Always pleased to hear somebody has been good on cable..:-)

One day......

Have I just watched the dollar fall against the Euro from 1.2012 to 1.1911 almost uninterrupted?