Forex rebates on every trade - win or lose!

Mervyn King feels the needs yesterday to state that exports are still holding up at 1.9730 !!..

Interestingly in the past high exchange rates sometimes lead to interest rate reductions other things being equal
Since 1997 new Labour says its only linked to infaltion, so that ceiling on levels no longer there.

At the moment everybody is talking about $2 pound..
Once we are over..I wonder what targets will be mentioned then... $2.40 !!

anyone else getting delays between the quote price on fxcm...and the fx power charts..

first is saying 91/95 chart is shoing...75...tends to get behind on big moves?

FXCM my power charts not loading anyone else
I even rebooted

Prefer NetDania, foale, no probs here.
Used to have intermittent lock-ups but it's fine since they served a new blend of Java beans :)

Mervyn King has fallen into the classic trap of thinking that exchange rates affect exports -- they don't. Exchange rates affect export profitability.

You can't (well, I can't) wander into my American customers and just tell them the price has gone up from $10k to $12k because the exchange rate moved against the dollar. You wouldn't last a minute against American competition.

Edit: to clarify, there is no short term effect on exports other than profitability. In the long term, there is a macro-economic effect on the international competitiveness of business. Like, we give up trying to sell to the U.S. against American competition because we can't make money.

choco ..will try netdania thanks but did not think you could save them.

bought some at 1.9700 then saw it fall...wanted to add at 1.9650 never did it..
feeling bad...

then it started rallying..added some at 1.9750 then closed all at 1.9841

dont feel I managed it very well...but the no charts .. was not helful !!

enough for me now..saved by the figures....

Foale, emotion still getting the better of me here. Also bought this morning only to see it fall and decided to close before too much damage done - and it kept rising from then on. Scalped a few at lunchtime but irritated with my poor discipline!

However I have learned to scalp like the best!!!

I prefer winder stops...as all that stopping out otherwise eats up the profit of the 4th time when you get it right...

So true, getting the entry right whilst at work is so hard though!!

I do the research then stick on my limit entry and widish stop then turn it off and come back later

Sorry no updates for a couple of days. Other stuff for me and
Miss M to sort out this week.
Bonds, Dollar, Gold and Stockmarkets all seem to be reaching
decision points at the moment, as hopefully the charts and
comments will show.
Dunno which way stuff will break, so don't take the Bearish comments
as a given. Just highlighting the possible inferences that I'm seeing.

Anyway, here's the end of week stuff to Miss M.

Calendar updated by a nervous FX Fairy ;-)

Why so fractious, furry?

Gut says cable's going to trade sideways/maybe give it up a bit for a while.
Managed to grab a few moments last week and added to my long a few times, but I gave it a good shave Friday afternoon. A thousand point rise is pretty remarkable in such a short space of time.
Still long from just under 500 points below as I write, with a couple of buy orders in if it falls now - and a serious sell around $2 if it gets there sooner :)

If it works, it works, and if it don't - it don't :o)
Either way, I won't be trading it for a few days, so good luck all, whatever you do :)

Choco..I would go alone with that...
Pretty much my strategy too...

Cable 1.9760-75 just below us
might offer an area we can rally from.

Evening. Miss M now has 2 investment banks considering taking her on.
Don't know if anything will come of it yet, but at least they're taking
an interest in her, with follow up meetings and requests for more information,
instead of the 'don't call us we'll call you' routine. So we're staying positive,
and I'm still having to send her all this stuff.

I don't know who's on the fastest learning curve, me or her. :-)

Sure the dollar drops more eventually?
Euro, Thursday ECB rate rise priced in!
Willing to be small short Euro on patternmeister basis (Fib 4.236 extension ) closing just under this and close below open on daily basis (I know you can argue close on 24 hour market but close of spot as good as anywhere else). Stop above recent high.

Sure the dollar drops more eventually?

Hi, Hodgins.
Not sure if that was a general comment or a question for me?

Quote from my last post:
don't take it as a given that the Dollar slide will continue

And in the post from the weekend I showed a 20yr chart showing the
Dollar Index near it's multi year lows.

So I'm not sure the dollar drops more. In fact, after a rapid move like
this, I'd be inclined to look for a correction up first before it weakened
some more, if it was going to.

Hi M, great stuff from you. Wasn't specifically directed at you, just my musings on where I am placed short(ish) term at the moment

Bit quiet on here today.

C'mon folks, it's the FX Fairy's birthday today, let's party!