I would sure love to get in on this bull run, but the market is in "SEM" (Silly Extreme Mode). I just cannot bring myself to hit the buy button when it's so frantic. Half the pairs I normally play are all in ridiculous oversold or overbought territory. Lots of people going to get spanked in the next few weeks.
GBP/JPY - a wonderful beast. But the spread is very bad: 8 - eight - pips! I just love to trade GBP/USD, but I have to pay or 4 pips spread. Any here knowing of a broker which offers a better spread on Cable?
There are quite a few, such as most ECNs. Cable spread is normally 2 at COESfx, 2-3 at IB (both ECNs) and 3 at Oanda (not an ECN). GBP/JPY is 5-6 at IB and 6 at Oanda. Also, keep in mind that each GBP/JPY pip is worth about $8.27 per lot, not $10.
http://www.forex-swiss.com/ has 2 pip spread on gbp/jpy and gbp/usd but i don know if they are reliable Anyone here on ET use this broker?
I week ago it was the major lowest pair in Yen crosses, so GBP thought - Why should I be worse than EUR and USD? You mean those who would decide to go short?