GBP Trade Index 18-Year Chart

@TANVIR

if u keep on thinking that we r tracked by cookies on our position its better for a while not to trade and to make ur ideas clear.markets are jsut like fractales they tend to repeat itself in sequences and once we have the sequences then only few things can beat you. stop trading and think of method to forecast markets, for instance try elliott waves counting macd and fibo retracement; dont forget simple trend line on different time frame.

Good luck
if any help dont hesitate.

Said,

All those words of you are good, but I do not believe much that, Forex is not a con job. When ever I will just try to place the order and click on it, that very same currency goes up and down to maximise the loss, and it is not just 1 day, it happens for years, and this behaviour is common with everyone. That purely means that all these software have cookies inbuilt and what they do is track every movement of cursor and is aware of your position and hence the robot crawler does best to eat you up.

I hope these things will be exposed and CFTC will take action against all the brokers like FXCM, FOREX, MG Forex, SAXO bank and all those who are advertised on Fxstreet.com

And regarding volume, there is not much volume most of time, its these banks themselves who are playing amongst themself creating orders and buying and selling, hence no losses to them. This is a fake market.

@tanvir

my first financial market was from Stan Weinstein. i learned a lot through its reading and one thing stroke me when he said that "market is here to beat you" so one must find a way not to be busted.
Regulated or no regulated you me or anybody that is not aware of underway trend , countertrend must not apply for an account in FX. i used to trade in indices and forex is more complexed 'cause for instance datas and volumes are not centralized in one exchange such as shares. so action at 2-3 am european time from HK and auckland are to ponder for european session in london.
i am still learning the best way to trade with the good entry point in the market.

good luck and dont give up. Endurance and discipline

@Benny: Sorry, I didn't answer your question:

Actually, I really am the wrong person to try to answer. As I said, I have traded it with little success, at least this year (and last). I had more luck the year before (2008), but that was because it was in an established trend which I just joined (as an ignoramus...).

I have come to the conclusion that at the moment at least, I have absolutely no idea how to trade EUR/GBP.

I think this is because of its relationship with EUR/USD and GBP/USD (=cable), and where those particular pairs are at the moment.

When the markets change and those pairs change then EUR/GBP will change.


When there is clear Euro-positive news and clear GBP-negative news clearly stated, then things may change
(or vice-versa).

On technical grounds (not that I am a technical expert) I would guess it will be a couple of weeks at least before they get out of that range...
...
but to be honest, your guess is at least as good as mine.

Let me/us know how you get on!