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Bahman, CFDs

Now do it twice and hang on longer.

0.941 to 0.936 is 500 quid on 1 contract.

I know nothing stays the same, but if you're willing to play the game, it will be coming around again. EUR/GBP at 0.941

That EUR/GBP short was a gift over the last few days. I took a few contracts at different levels. There's a lot of money to be made riding it from over 0.94 to under 0.92.

I also noted Gold and stock indices rising - something of an anomaly. I agree that gold is more likely to continue while I think that FTSE will be heading down for a few sessions.

EUR/GBP looks like a good short. Currently over 0.94 but I usually target anything over 0.93. Lots of bad news to come from the Eurozone. The UK has taken its medicine and the close-to-worst-case scenarios are well-aired there.

I am still following CT7's posts by checking http://www.lse.co.uk/member-info.asp?nick=charttrader7. occasionally. I have, however, found the last few to be a bit garbled. Either he is confusing rallies and downturns or is not clear on the direction. For examples: 12:04 on 18/3 "Offically short on FTSE after failed break of resistance and confirms the 4th wave of the 5 wave of the Elliott wave. 5th wave down is now ready to take place to confirm the bottom." 12:14 "now after failed test of resistance its on way back down" 12:22 "The rally will be strong but i would not be surprised to see a rally for some time and then another drop that could that could be worse than the one we are going through now" Like most here, I thought he was onto something... but reading his posts just confuses me more. If he went short on the FTSE 100 yesterday or the day before, he will not be in profit.

Oh well, I had a look at the chart and opened a short at 1.5398 with a (probably rather conservative) limit of 1.53. Thanks for the alert.

Bahman, It is around 1.54 right now, what range are you targetting? (For example, I shorted EUR/GBP from .93 to .91 last week.)

Hi Admin, Thanks for the response. I found it.

Hi Admin, Thanks for the response. I found it.

I wonder why the Foreign Exchange area has been deleted. There were some quality posts and now as the EUR/GBP nears 0.93 I have nowhere to discuss it.

I wonder why the Foreign Exchange area has been deleted. There were some quality posts and now as the EUR/GBP nears 0.93 I have nowhere to discuss it.

As posted on Aviva board at 08.53: It's funny how the world turns... 2 days ago, with AV at 270p and gold at $910, Charttrader7 said that Aviva was going up and Gold was going down. Now we have Aviva at 180p and Gold at $940.

It would be useful to have some good posts here from CT7. He writes on AV., BARC, LLOY, RBS and others but that disappears within the hour. Quality predictions for days, weeks and months are needed here, along with justifications. I see that he was posting on a thread that someone started in the General section about Oilex (OIL) last night but that was one-liner stuff that was then corrected in subsequent one-liners. I suspect the man has attention deficit disorder and gets rather excited but I certainly respect his reading of the charts.

Here is what a mate of mine in China said in a recent email. He's given to being a bit crazy but a lot of what he says comes true. "I've got $100,000 in Gold and I'm holding. Bought in around $750. Gold dipped hard the last week, perhaps a buying opportunity. Gold was $800 in the 70's crisis, so inflation adjusted it should be $2,000. There is alot of paper Gold manilpulation of the prices now. You can't even find physical gold to buy unless you pay a 30-40% premium. http://www.infowars.com/gold-industry-officials-warn-of-depression-expect-major-economies-to-boost-reserves They key will be the world's central banks. The current economic system we live in is over, the central banks are holding massive amounts of JUNK (USD). They have all said, including China, they want to increase Gold reserves. Right now, China and Japan only have 1-2% of their reserves in Gold. If they just move that to 5% it represents hundreds of billions in new gold purchases. Some say, we may end up back to the gold standard after all this is said and done. Every paper fiat currency ever printed has failed as governments just can't resist turning on the printing press. Exactly what the US is doing now. I would buy some if you dont have any. I am stocking up on some cheap U.S. stocks...when strong companies are selling 3-5 times earnings its a steal."

Nearly fell back to 950. Does this have the momentum to go over 1000?

$971/oz. I know that many of you feel that gold should go over $1000. But I think this is pretty heady stuff - 3% up in a day! I am tempted to short gold but realise that, as I only have long positions on stocks, it would be more 'sensible' to long gold (as a hedge to my other positions). I have never been sensible.

Wow, what a ride, it nearly turned my hair grey. April contract now up over 4900 and my four contracts, bought at various points, have all come good. Never again...until the next time.