April '04 Forex

[Buk]

there are a few tech reasons for suggesting so mate yes!! - particularly sterling bouncing off key resistance against euro last week & falling below the 100 dma....certainly looks bearish imo, but as always.....we trade the 'picture'....1.75 looks a good bet on my charts!

 

[cashmir]

I see a similar pattern to the end of last week on the hourly, watch out for a good bounce up to finish off the week.
I'll buy on a new high for the day.

 

[FetteredChinos]

could well be lucky to see a new high for the day , something has got to stop the current down-trend for now.

im keeping open minded, especially since im a very nervous trader at the best of times lol.

thanks for the input Cashmir. nice name by the way

 

[Goober]

Just gone short cable at 1.7740 for quick scalp.

Cashmir - I take your point on week end bounce. However, in the medium term, Cable looks like it's heading south.

Buk - where in Norfolk do you live, Mate?

 

[FetteredChinos]

well guys, i think the drinks may well be on me tonight.. have you just seen the dive that £/$ did!!!!

remember im doing this at £17pp


strewth ruth!!!

FC

off loading gradually now!

 

[FetteredChinos]

nice trade goobs. got in just in time lol!!!

FC

 

[Buk]

well done FC!


KL Goober (when I'm over here lol)

 

[nicoss]

A big hello to all of you happy traders.
I am new to forex trading and I am finding this board very helpful. I am been reading the posts for the last couple of weeks and already clarified many of my questions.
Could anyone tell me if trading forex is tax free in UK (similar to spread betting). Can you tell me a bit more on this issue?

Thanks,

nicoss

 

[mpjordan]

Sold the news ( durable goods) at 17720. now 17673. Should I take a profit or hang in on there?
mpj

 

[FetteredChinos]

as far as i am aware, trading forex through a broker is subject to uk tax for uk residents. i use a SB company, as there seems to be virtually no bias on FX products anyway, so the only penalty is that that bid/ask spread is a bit wider..

FC

 

[FetteredChinos]

guys, on a serious note, it looks like the bottom is falling out of this market.

anyone know where the next support on £/$ is??

FC

 

[Goober]

Trades today:

Short €/$ 1.1884 covered 1.1863 +21 pips
Short Cable 1.774 covered 1.7698 +42 pips

I think I'll call it a day. Great weather for a BBQ and a few beers.

Enjoy the weekend.

 

[FetteredChinos]

good trading goobs, have a great weekend.

im off to see Harry Hill tonight for a wee bit of comedy

 

[Goober]

FC

Of course the bottom's falling out the market - I just got out!

 

[Buk]

watch 7600/620 FC (near term)

 

[Goober]

Buk

Agreed, although 7624 is my short term support.

 

[Buk]

support camps are getting a tad slimmer on the legs down....the round numbers will whip around as natural s/r

 

[nicoss]

Thanks FC,

Can you comment on FXCM? I see that you are using their graphs. I intend to use their platform, which I am trying right now, and it looks good.

BTW, well done on £/$!!! Bet you're going to enjoy the weekend

Nicoss

 

[Buk]

FXCM have a decent platform....good fills & little/no slippage on stops (even in whippy news moves)....good service etc....

 

[FetteredChinos]

there you go, Buk said it all.

i use them for charting as Capitalspreads charts are 15 mins delayed. which is next to useless unless you are trading off 4 hour charts lol

have bailed out of most of my short now.. just left in at £3 pp, letting the trend take it down for the rest of the day hopefully.

my Euro trade is +35 too.

but on some bad news, Harry Hill is sold out, so its gonna have to be a pint in the sun instead

FC