Recent content by Bloodhound

I wasn't expecting much from this week with Thanksgiving etc. and certainly wasn't expecting much from GBPxxx's given the ongoing political rubbish but GBP has been the pair to trade for the week. Stand-out trade was this:

I think it's very much a case of horses for courses. I happen to know someone in the village where I live who is a retired CBOT floor trader and it is fascinating comparing the way he trades to the way that I do. He focuses on aiming to approximately get the entry right (i.e. ideally in the...

We certainly live in interesting times. The other day at a dinner party I was surprised to find myself as a centre right, Europhile, conservative being accused of being a communist.......

Very true but when one looks at who advised them on the FTT I think there is potential that they may have crossed all the T's and dotted all the I's. I certainly don't agree with the motivation behind FTT but I can understand why it appeals to them and I fear that we may just be seen as...

I can't disagree with that! It's a genuine concern though for a lot of independent intra-day traders as the costs will become prohibitive. I think my average pip profit on the majors is around 18 pips. Under the Labour plans their FTT will take 30% of that. Obviously the simple solution would be...

Just to add some numbers to the above question. It would appear that this tax could be as much as 0.06% of the nominal value of a forex contract. Needless to say the financial implications of that would be ruinous and mean that, unless I've got my maths terribly wrong, break even on a trade...

Hello, Does anyone have any definitive advice, either from their brokers or tax advisers etc., on what the likely financial impact for UK-based independent FX traders of Labour's planned FTT, as outlined in their 2019 manifesto? Here's a link to the document and the section dealing with the...

Very, very few would be my honest answer. To be self-supporting as a trader takes a huge amount of time and effort as well as sheer bloody-mindedness.

That's a very good question and one that different price action traders will probably have a slightly different take on. The best way I can probably explain my 'take' would be to say that it is the relationship between buyers and sellers as visually represented on a chart and most easily seen...

Price action is fractal. If you learn to read price correctly then it doesn't matter whether you are looking at a 1 minute chart or a monthly chart. (BTW when I say price action I am not talking about candle patterns, price patterns etc. or any derivative of them.) If I understand your question...

Ozzie shorts were definitely the way to go for 10R this afternoon:

CADJPY also on my radar but wasn't behaving itself today....

Given the recent focus on CADCHF I thought I'd post today's opportunity. Follows exactly the same concepts that I have already outlined.

I'm quite lazy about looking at the dollar index but it's currently at an important level. A break lower and we're probably heading down to 97.30.

Ozzie strength entirely predictable. Need to see a couple of things happen and then we should see this weekly move play out.