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- Spectator replied Jan 7, 2009
No, it isn't a great trading plan. It is a very, very bad one that lots of new gamblers (and I mean gamblers) come up with. You will get badly burnt by this one day when you get the market wrong. url )
- Spectator replied Jan 7, 2009
You have just described a martingale. People have been going broke using this system since the 18th century...
- Spectator replied Oct 6, 2008
Wow — Knew today was going to be bad...but been busy at work...just logged onto igindex and I must admit I was shocked. Wow is all I can say. Look at AUD/JPY...dropped from 82 to 70 at one point.
- Spectator replied Sep 16, 2008
The bounce today — Just in case anyone hasn't heard what the news was that caused the spike up... I placed an asymmetric bet on the DOW as per my discussion with Malcom14 on Monday just before the news (I could put a guaranteed stop at 20pts ...
- Spectator replied Sep 14, 2008
If I was cynical I'd say that the US chose the weekend for Lehman to go pop...I mean it isn't as if everyone hasn't been focussed on them and ML all year. Has anyone else noticed that these things tend to happen on weekends when someone else's ...
- Spectator replied Sep 14, 2008
I tend to use IG Index. Have tried others a while ago...but all of the platforms have moved on, so I cannot guarantee that my opinion of them would be fair now. On GBP/JPY the spread is 13 pips which is wider than usual. Same with USD/JPY which is ...
- Spectator replied Sep 14, 2008
What are the spreads on your dealer and what are they "normally"?
- Spectator replied Sep 14, 2008
I really don't want to lead anyone astray. The point that I wanted to make is that "not trading over the weekend" is often stated dogmatically as a rule, and nothing is ever so simple. I would add to any newbie that I spend 3 or 4 hours each day ...
- Spectator replied Sep 14, 2008
I was very specific in my post. In the UK some spread bet firms (IG Index for instance) allow you to place guaranteed stops. Regardless of how bad the swing goes against you, your trade is closed at the stop not 300 pips away from it. The extra risk ...
- Spectator replied Sep 14, 2008
They happen because of events. They have no "purpose". Gap closing is something else which does have a logic behind it.
- Spectator replied Sep 14, 2008
No, you cannot predict it, but you cannot predict with certainty any currency movement. All currency trading is gambling...all you can do is shift the odds in your favour by proper risk management etc. There are no sure things. Anyone who believes ...
- Spectator replied Sep 14, 2008
Hmm...if you risk only a few percent of your account I really don't see what the problem is. At the end of last week it was pretty clear that a deal was going to be difficult and anything done to get it through would also be reasonably bad new too. ...
- Spectator replied Sep 14, 2008
Hmm...this is a bit harsh. If you bet your account on it sure...but otherwise this was a well judged gamble just like any other currency trade, especially if you have an account with guaranteed stops (such as the UK spread betting firms), where the ...
- Spectator replied Sep 7, 2008
There were indications before the close on Friday that something was going to be done about Freddie and Fannie. That should have been the sign to close shorts and put on a speculative long (I can put guaranteed stops on my account, so huge gaps ...
- Spectator replied Sep 2, 2008
The information I have seen on this stimulus package is laughable. It'll keep the builders shares etc. up for a few days as all the suckers buy...then the reality of the desperation, the devil in the detail of what will happen after the 5 year ...
- Spectator replied Jun 23, 2008
My concern with this is: "Why do you think that the UK will be in a better economic position than the US over that time frame?" At least the US has some reasonable manufacturing...the UK has nothing other than financial services...and trading houses ...
- Spectator replied Jun 20, 2008
Unleaded petrol is about $8.30 per US Gallon in the UK...the differential between it and diesel has shot up from 1% to 10% (i.e. diesel is relatively much more expensive now.)
- Spectator replied Jun 20, 2008
Interesting...from your observations of customers...what do you put the difference between the months down to?
- Spectator replied Jun 20, 2008
Unsure how it will pan out today, but the UK numbers were a blip and the pound will weaken again soon...we had nice weather here in May etc., so I believe the jump in sales figures were a bit of sun induced irrational exuberance. Nothing has changed ...
- Spectator replied Jun 19, 2008
If the USD is the only currency "affected" by a piece of news, then GBP/JPY will remain the same. We've seen this a few times this past week, where changes in UJ are more or less precisely balanced by changes in GU. However, generally the US and UK ...