FetteredChinos
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hmm, FTSE futures still down, US futures flat-ish, and this is despite Oil easing off since yesterday..
do they know something we dont?
do they know something we dont?
Racer said:LONDON (AFX) - The dollar recovered ground against the yen after an earlier story suggesting that China was about to revalue its currency was discredited.
China said it will not use the expansion of foreign exchange trading in Shanghai next week as an opportunity to reform the exchange system, despite fevered speculation in global currency markets.
Markets were caught off-guard by a report on People's Daily website mistakenly suggesting that reform of the yuan is to begin next week.
The report apparently resulted from a mix-up in the English translation of a Chinese language report May 7 that quoted a Hong Kong official talking about yuan revaluation.
But a central bank spokesman said there are no plans to adjust the currency next week and the report was mistaken.
His remarks helped bring the dollar back above the 105 yen mark, following a sharp break below in the wake of the report.
destiny said:anyone trade with CMC? i got stopped out at 10220 when we never got to that!!! takes the **** or what!! and now it will most like finish 10300+..
destiny said:anyone trade with CMC? i got stopped out at 10220 when we never got to that!!! takes the **** or what!! and now it will most like finish 10300+..
destiny said:anyone trade with CMC? i got stopped out at 10220 when we never got to that!!! takes the **** or what!! and now it will most like finish 10300+..[/QUOTE
Who is CMC ? Presumably you were stopped out on a long !
Racer said:So both IG and CMC went below futures for that spike
GOOD ON YOU CHIEFrespectFetteredChinos said:ig index had a spike down to 10,214..
this is why stops are for mugs..
manage your positions instead..
one of the best bits of advice i read on here, or elsewhere it might have been, was:-
2 rules of trading
1) dont lose money
2) dont lose money
stop losses force you to break both these rules..