Currency Trading (Nov 20th - Nov 24th)

Where will GBPUSD close at the end of theis week?


  • Total voters
    21
  • Poll closed .
Woke up late this morning just thought why bother! manage to take the short from 32 . I have not traded much this week.

Sooner or later we will break the 1.95 and then go to 2.. or Maybe be as it approaches 2 sufficiently then short orders will go through. Nice time to go shopping in the states.

Which means Retail sales for January will shoot up as people go to do their last minute shopping in the states to get good bargains.

Anyone going shopping?
 
Fish said:
Hi everyone, I have been following the thread for a while, and just wanted to say well done to all. Some good lessons here.......
Hi Fish, good to see you. Have you been able to fill your pip skip this week?
 
ChowClown said:
Hi Fish, good to see you. Have you been able to fill your pip skip this week?

Not as I would have liked, Chow. Still got my L plates on with forex, but find it fascinating. Got stopped out by the GBP news spike on Tuesday morning, but caught the trend later on. Same as you and others that morning. (When you caught the trend later, can I ask, did it cover your losses on the spike?) Still running a little bit from that day though. I kept out of the range yesterday, reckoning it wasn't really wide enough to trade, and then got to my desk too late this morning, to see cable moving up like someone had just lit the blue touch paper ! Kind of expecting consolidation now, but hey, anything can happen.. Euro and yen probably have a little further to move, so there might be a bit in it yet.
 
Fish said:
When you caught the trend later, can I ask, did it cover your losses on the spike
I got in on the re-arm but closed for -7 on the slide down again. Tuesday's tally -27.
 
ChowClown said:
I got in on the re-arm but closed for -7 on the slide down again. Tuesday's tally -27.
Thanks, Chow, sounds like you were all in, all out on those? I took a small position at 985, (after walking away for a while) thinking there was not a lot to go, but now looking at the longer time frames, you can see the space above up to the consolidation level.

As an aside, this mornings dollar moves seems to be really trashing UK equity markets at the moment. UKX broken support, and MCX, although still in an uptrend, has made a 1-2-3 down. Its like a big bean bag, push here and a bit pops out over there :LOL:
 
Fish said:
Thanks, Chow, sounds like you were all in, all out on those? I took a small position at 985, (after walking away for a while) thinking there was not a lot to go, but now looking at the longer time frames, you can see the space above up to the consolidation level.

As an aside, this mornings dollar moves seems to be really trashing UK equity markets at the moment. UKX broken support, and MCX, although still in an uptrend, has made a 1-2-3 down. Its like a big bean bag, push here and a bit pops out over there :LOL:
Yes, full loads. I'm beginning to trade a few UK stocks too now (purely FX until now), i've had fun with Vedanta over the last few weeks, trends very nicely. The bean bag's a great analogy :cheesy:
 
edu said:
I´m looking at weekly charts here... it looks like we´re finally breaking out of this year´s ranges. Hope it really breaks, and we get some good volatility back to the market.
What a week guys! Great trading by everyone here. :D
 
What a day! Closing two longs from yesterday, shorting at 347 and buying three times at 316 has resulted in 332 pips! I am, to say the least, ecstatic.

Good day to you sirs; I'm off to the pub!
 
a_gnome said:
Interesting stuff, Baruch.

I actually know the CEO Mika Liebkind - he used to be a client of mine. He always seemed like a fair and reasonable person.

I've got the demo working ok - it is fairly basic but has simple charting which looks quite clean.

As to how they make their money I can only guess that they are assuming that the majority of their clients will be losing money even at choice prices so they are acting like a bucket shop. As a single counter-party they will also have the usual possibilities of skewing your exit prices so that once in a position even if they show choice it might be several pips on the wrong side of the market. There is also the possibility of slippage on stops etc. All the usual shenanigans that go with single counter-party trading are possible in fact.

Still it's an intriguing idea. Anyone feel brave enough to give them a go?

I agree, the concept is interesting. They have openly declared in their FAQ that they do not approve of short term traders i.e., if the trader begins trading too excessively within a short term time range. I guess it is quite easy to detect by comparing with live cash and futures prices, in case one feels they skew your exit prices. What would also be interesting to know, is how their feed follows that of the underlying asset, and of course how they relate to constant winners. I will for sure have a closer look at these guys in the next months to come. My hope is, that they will behave with good business conduct, as the founders are Finish and thus in a way represent Scandinavia.
 
Last edited:
Top