I am neither brave nor stupid...I am just a part time trader ![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
![](https://resources.faireconomy.media/images/emojis/64/1f60a.png?v=15.1)
Why is GBPUSD called cable? 70 replies
Cable Update - Continued 102 replies
Cable (GBPUSD) vs Euro (EURUSD) 31 replies
Cable Update (GBP/USD) without Idiots 23 replies
cable short for gbpusd? 6 replies
Disliked{quote} FX transactions do not really work that way. If I walk into my bank and request to withdraw $10,000 will they first ask me to wait until there is someone else that wants to deposit the same amount or greater before they will attend to me? It is an exchange, if you want any quantity at any price, your order will be filled (or maybe I have not started trading very big sizes yet). I think we as traders were set off on the wrong course from the start. They have been telling lies which they believe we will never be able to unveil.Ignored
Disliked{quote} You might want to check Pat Chiko's posts and pipcenturion for some ideas.Ignored
Disliked{quote} You can only withdraw from your current account. You cannot exchange FX on your current account. There is a reason for that. If you want to exchange the currency that you have, you first have to enter an FX transaction which in technical terms means that they will withdraw the money from your current account onto a technical/transactional account where the actual exchange occurs: the bank will take your USD and gives you your EUR (or whatever you wanted) out of their own reserves. Banks are required to keep reserves so they can service many...Ignored
Disliked{quote} I checked and saw that Pat is also buying. Lol... It wouldn't have changed my trade anyway. My invalidation level is a daily close below 2330.Ignored
Disliked{quote} You can only withdraw from your current account. You cannot exchange FX on your current account. There is a reason for that. If you want to exchange the currency that you have, you first have to enter an FX transaction which in technical terms means that they will withdraw the money from your current account onto a technical/transactional account where the actual exchange occurs: the bank will take your USD and gives you your EUR (or whatever you wanted) out of their own reserves. Banks are required to keep reserves so they can service many...Ignored
Disliked{quote} You can only withdraw from your current account. You cannot exchange FX on your current account. There is a reason for that. If you want to exchange the currency that you have, you first have to enter an FX transaction which in technical terms means that they will withdraw the money from your current account onto a technical/transactional account where the actual exchange occurs: the bank will take your USD and gives you your EUR (or whatever you wanted) out of their own reserves. Banks are required to keep reserves so they can service many...Ignored
Disliked{quote} FX transactions do not really work that way. If I walk into my bank and request to withdraw $10,000 will they first ask me to wait until there is someone else that wants to deposit the same amount or greater before they will attend to me? It is an exchange, if you want any quantity at any price, your order will be filled (or maybe I have not started trading very big sizes yet). I think we as traders were set off on the wrong course from the start. They have been telling lies that they believe we will never be able to unveil.Ignored
Disliked{quote} Actually, with FX transactions there is another layer, the market maker which is similar to the bank. When you go to the bank, if the bank has the currency that you want on hand they will sell it to you. If they don't have it on hand they have to order it and get it delivered or wait until as you said someone else comes along that wants to sell that currency. With the market maker, the market maker acts as an intermediary, buying and selling within certain parameters of liquidity and borrowing limits. This allows for transactions to be complete...Ignored
Disliked{quote} Okay, so if I send money in USD from Africa for my sons fees in the USA does this qualify as an FX transaction in your terms? If yes, do they ask me to wait until someone else needs the exact amount I want to send? FX transactions have a 2 - day forward period for the transaction to be cleared. Do not allow anyone deceive you. What is happening in the market today, are simply transactions that have been logged since 2 days ago.Ignored
Disliked{quote} Most of the brokers have their own liquidity, the seldom have to go to interbank for liquidity. so Volume is always camouflaged. You can't get actual figures.Ignored
Disliked{quote} This is what understand about the volume. Volume can't be measured with just OPEN,HIGH,LOW,CLOSE. rather you can get from interbank, that is simply not possible for retail traders. We get the volume of our broker, or some brokers (from multi broker platforms like trading view), We can't get true volume.Ignored
Disliked{quote} Every one is satisfied with what he/she have. Some are happy with indicators, that move the market (While Actually they follow the price), Some designs, Heiken Achi. When price goes in the favor they think this indicator is right. While price behaviour was supporting the indicator, not the indicator moved the Market. Same is with the Volume. When we Buy USD with any currency (suppose AUD), USD Demand increases, it increases price of USD against all currencies. but more against the currency we traded AUD. If lot size is Millions... that matters...Ignored
Disliked{quote} It's only an FX transaction if you exchange one currency to another. If you send USD from your home country (in Africa) to a foreign country (USA) there is no FX transaction taking place. The FX transaction occured in your own bank when you exchanged your local currency to USD so you can send it. The 2-day period you are referring to is the clearing period. The transaction occurs right now, but since FX has a huge volume the actual clearing is going to take place within the next 3 days actually (T+2). It's just an accounting technicality....Ignored
Disliked{quote} Actually the two-day clearing or settlement is in reality just a way for the bank to make money by holding funds in their accounts for which they get paid interest and contribute to their reserve balances. Sure there is an argument made about clearing funds, balancing accounts and so on but then there is simple reality.Ignored
DislikedIf GBPUSD trades to 1.19 or slightly lower within the next few days, maybe some people will start to believe that the volume on MT4 is sufficient once you know how to separate buy volume from sell volume. New ideas are usually strongly resisted. Little by little some people will begin to accept it as truth.Ignored
Disliked{quote} Well, Mr Market is just not going to give me any pips, but I am not going to give him any of mine either!!No more attempts for me this week, I will play my guitar and have some coffee!!
{image}
Ignored