Monthly Thread: November 2003

[darktone]

anmolway

are u profitable position trading FX?

 

[anmolway]

yes darktone, over the last few months i've only made money on currencies and have been following the threads and seems like there are many opportunities during the day when s/r levels are broken - but i am worried about deal4free spread which can be 10 pips

 

[darktone]

Its not so much the actual spread that CMC offer thats the problem, its the way they skew the prices that hurt the day trader. cmc SB are 4 points on E/$ as are fxcm but you will get less range of movement with cmc which can effectively make their spreads wider.

I asked if you were profitable? cos if you are? why try to fix something that aint broke?

Regards
dt

 

[neil]

Anyone trading €/$ will be glad they had any stop losses in place after the dip in price sometime after 2,30pm our time

 

[darktone]

i traded the break of resistance at 1.1850 @1.1867 but folded my hand at 40 looking for lower prices. missed my chance to re-enter yesterday and woke up to find a fire had been lit under E/$

missed all of todays action but a lesson its taught me! only crime now would be not to learn from it!

 

[illuminato]

anmolway - 10 pip spread

Anmolway

Just curious, Im trading using deal4free but get 3 pip spreads usually. If I think they read me I ask for 2 way qoute.

 

[anmolway]

hi illiminato, you are right it is only 3 pips for euro cash, i usually place a trade over many days to a few weeks and therefore use monthly expiry bets which have 10 pips spread - my thinking is that if one holding for many days or a few weeks then the overnight charge on a cash spread mounts up to multiple spreads.

i was just wondering what other way do people dealing in curriencies place there trades.


cheers
anmolway