Forex rebates on every trade - win or lose!

You always were a caution, Mels ;)

You're right, Chocco, perhaps I do need to add a little more
risk to the pot. I don't get many losing trades, but it does cost
me a lot of missed winning positions. :-(

Never mind, at least I'm doing it the right way round and winning
whilst learning, instead of blowing Pots away like 90% of folk seem
to do from what I read. :-)

Mel
You have certainly added some really valuable contributions to this thread - just as you did on the index thread - I for one am very grateful.

I must admit that your most recent posts gave me that extra bit of confidence to go long cable yesterday @ 560 and 580 - which are still open. Needed some winning positions after a very ropey start to 2007.

Off to do some day jobbie stuff and leaving the positions with stops at the opening levels. The 4 hour and 1 hour MACDs now look as if they are confirming nicely for good points.

Hope choccie closed her shorts because I think we are on our way back up towards that 50p $ mark.

mg (member of the Melnibone fan club)

PS - I do wish you would take a few more risks - IMHO losses are an integral part of the learning process - but, thereagain, we all have to assess our own personal comfort levels when it comes to risk.

Thanks for the comments, guys. I've never had a problem with
constructive criticism.
I've got trading the larger swings ok now, and am slowly working
my way in to successfully trading the intermediate swings.
Slowly, slowly catchee monkey. :-)
The operative word for me is 'successfully'.

See you've re-opened Longbridge, MG. ;-)

Link to MG's new business venture

Oh he's a very busy boy, Mels.

http://mgforex.com/

Meggers is the one in the middle :o)

Anyway, meggers - too right I did.
My stop didn't get hit during the day so I closed in disgust at 1.9585 and had a good scratch last night ;)

Still a short little bear from 1.9690 this morning.
But that can all change :)




Consumer confidence report shortly is expected to improve to 110 from 109.
And tomorrow fourth quarter GDP is forecast to jump to 3% versus 2%.
The market's poised to see if the FOMC acknowledges pressure from wages when it gives its statement on Wednesday, and the consensus is for the Fed to maintain its hawkish bias and comment on the improvements in economic fundamentals, particularly in housing and manufacturing.

manchester gets new super casino

i think harlosh and bakko will be happy :))

yeah right bos....just another place to get robbed blind :-(

and you'll no doubt refuse to come out with us when we go to it won't you Bos :-))

Yep - I'm a busy 'un - not just cars at Longbridge - I've even fixed Hull and Wolverhampton up with mini-Casinos (apparently) Z:)

On the Super-Casino front - Manchester was a Big Big surprise - there's gonna be a few people in Blackpool with a lot of egg (or is it ice cream) on their faces - even day-trippers to Skeggie, Scarborough, Torquay and Great Yarmouth get something to do after their donkey rides. Anyone want a big-dipper - going cheap?

As for cable - I'm still in there - not as clever as choccie the shorting genius - but I have to have some limitations !!!

mg (TF)

Hells bells Choccy - that's an awful lot of lines for one chart ;-)

I got stopped out of my long position +12 - was up about +70 at one point. I tend to set a fairly tight trailing stop loss so I get to breakeven asap as I never know when I'm going to get a chance to look in. Did the business this morning.

Back in again long now from 631 - not the cleverest of entries but looking for the couple of hundred pointers these days so in the overall scheme of things it's not too bad.

I'm not sure that it's a long again yet, Seymour.

That's cos I'm in my awful lot of lines period, SC.
Not clever at all, meggers - just short, apparently :)

Waiting to see if my rising support line will hold it as it did yesterday, currently around 1.9580.

harlosh, you let me know when and i'll be there ;)

Looks like Hils and choccy calling it right...and down she goes
a 1.9600 break should accelerate things to the downside
back to the 29th lows at least.

7:15pm FOMC key..

Stopped out, you were right Hils. Thanks for the thoughts.

Well done the "gals" - should have taken profits yesterday. Ended up with a bit - only a bit - of profit. Lost out on, net, about 200 points - stupid boy :(

Anyway - day jobbing again so no positions for me today - it'll have to be next week now.

closed short now at 40 area..happy with that for now

Seymour,

I can see why you went long last night and there's not necessarily anything wrong in what you did, but ..........

As well as Chocopop's Magic MACDTM, I also use a couple of moving averages and a stochastics oscillator and am therefore very wary when just one of the indicators points to a turn which was the case last night. Whilst you'd seen a ma crossover of the 10-minute MACD, the MACD was still below the zero line and the ma's were still heading down and not showing any sign of a turn. That prompted my post as I was personally looking for something a bit more bullish.

The 4-hour chart was also pointing to further downside and a retest of the rising support from the January lows.

I've never spoken to Ruth, so don't know exactly what settings she uses, but I've noticed from her posts that she refers to her favourite triple signal. I would hazard a guess that her signals are along the lines of my pointers above ie MACD, stochs and ma's.

Unfortunately, if there was a magic formula for making money from the markets every monkey on the planet would be doing it. That will never be the case.

Keep at it because I'm 100% confident that you're nearly there.

The other point is that the rally to the high yesterday morning has meant that a nice falling resistance line can now be drawn down from the high of 23rd Jan. I suggest that line would make not only a good short stop loss, but a point at which to reverse.