Forex rebates on every trade - win or lose!

Took far fewer points than I should have but I have modest targets and am just pleased to meet them given how I've struggled with Fx previously :-)

Well done Hilary on your prediction. We (SM and BP) went long cable today after the minutes at 19750 and our accounts are somewhat in the blue today. BP has taken a bit of a pounding on forex (learning experience or what!) but its all come back now and a little bit more. BP adds "Thx for info Hilary! Boy, this game is dangerous! Win big - lose big all in about 30 seconds...."

SC, well done, have managed to carry my short mindset throughout the day and sat like a startled rabbit caught in car headlights and simply watched as Cable climbed. With MG now and short from 66 & 60. Off to play golf now, never know when I get home if I'm in for a nice surprise or a nasty shock!!

Bounce off the 50% Fib level and off the bottom of the channel - a gift of a trade really on the daily chart too. Some resistance here perhaps?

supermum,

I'm pleased that it worked out OK for you and your friend. I noted your friend's comment about the game being dangerous and would like to point something out which has been said elsewhere on this thread.

With the GBP as near as damn it to $2, every 1/pip that you trade is the equivalent of 20,000 worth of position (if cable goes to zero from here and you're long, you lose 20k). You are probably able to take that position for between 60 and 200 of margin (ie between 0.3% and 1%) and trade with a spread of around 3 pips (ie 0.015%). Could you do that with a stock?

It's an unregulated market and, when your position goes offside by a couple of hundred pips it seems like a lot, but when you relate those figures to a stock, it's not a great deal. I'm not suggesting for 1 second that you should allow your positions to go 200 pips offside, but I am trying to get a point across that it's very easy to overtrade currencies.

Cable to push on to 1.9950-60 still long here...
certainly want to see the reaction to a test of 1.9900

Also long again here.

Still short here - from 865 and 885 - looking to see if it gets back to support around 690 - which would cure me of my week long sulk......

Stopped out on the spike down :-(

I'm long cable too... bought a bit tooo early and under water a tad....
Hilary,
Thank you for your post.. it really is helpful. I played with forex a bit back and my bottom is still smarting a bit!!! am now taking a more cautious stance and not QUITE so reckless!

SM

Late rally to 1.9900 anyone

Yes please. I've scalped a few points but now long from 48. Don't think it'll happen today though :-(

New Calendar posted, thanks for the JPEGs, Hil.

Still long..and still a bit wrong!

You are a lot more right now but were even more right

Where are the live rates in the header - mine have disappeared?

You cleaned your specs?

Edit: oops I blinked and they were gone. I must be in a time warp here.

Stop it!!

Must be me. edit maybe not.

13.00 - we're back :-)

OK lets try that long again.....

maybe the whopping 0.6% US GBP will help Cable back up...

Looks like a lot of indecision today ahead of the massive US news day tomorrow.

How many more days can EURUSD hug the 55 EMA on the daily ?