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GBP/JPY was total madness today ! :eek: :D

It's really easy to call everything BS, but the CPI is probably a pretty good approximation of the inflation level. Your personal opinion is usually a bad indicator of where inflation really is because you tend to put more weight on for example products that have sharply risen in value. The...

Not that I don't agree with you, but my point was that it's in FXCM's own interest to support the consolidation in the industry. No benevolence here.

The higher capital requirement will mean firms going out of business and thus less competition. Of course FXCM supports this move as they will easily meet the new capital requirements. FXCM will probably pursue an active policy absorbing the customer base of the firms going out of business.

Ivanovich, As you mention Oanda, they launched their FXManager platform recently. The way it works is that you sign up for a manager account. All your 'clients' sign up for an individual account and allocate funds from their individual accounts to your manager account. You, as a manager, can...

Read the economy section of the kuwait country page. Oil probably plays a major role. The website also lists the currency as pegged i.e. not freely floating.

For me it's about the same. Regardless of the pair, I look at the daily and 3 hour charts. I try to get a sense of trend and momentum. I don't try to guess any support / resistance levels. For me this would just be arbitrary, as I really don't have a feeling if a top, bottom or fibo...

Nice spike on opening, took out my TP right away. Even better, I received slippage: the trade closed at 66 while the original TP was at 28. That was fair I guess, as I received about 80 pip negative slippage some time back (also on GBP/JPY after the weekend) :) :D I'm out of the market at...

Good for you, that's probably a nice profit. As for me, I entered at 3538, TP is at 3728. So I hope the upside will continue :)

Are you still in this trade? The pair pulled back quite significantly, but that is to be expected of this pair. After the pullback i was down around 50 pip, currently I'm up 150 pip. I expect my TP to hit sometime early next week. Have a nice weekend.

I went long just after I stopped out on the last trade. TP and SL are both set to 200. I will probably hold till one of the two hits. Currently up 85 pip.

stopped out..

Still short at 3420, up 10 pip currently. Tomorrow should bring more volatility.

Yes, you can get 'slippage' on stop loss orders. This usually happens on news events, i.e. in case of low liquidity. Except for news events, slippage will be minimal.

I'm currently short, 30 pip down. But i'm not so sure this is a wise position as the current trend is still up. But this could be the place for a retracement. SL and TP are 100 pips away from entry.

Betting on reversal just generates losses. 9 out of 10 you generate losses, the one time you predict the reversal correctly. I think betting on reversals is a losing strategy.

What's your bias currently - still short?

Its amazing how much range this pair has. Just the correction (runup) starting midnight is 300 pips already. Is anybody trading this pair? I'm short biased but will only enter if some short momentum starts developing.

Maybe you could change it so only threads where the first post contains an attachment shows a paperclip. The current behavior is not really useful.

Oanda is not an ECN, but still the best ;)