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Cable Update (GBPUSD)

  • #616,201
  • Aug 12, 2021 2:38pm Aug 12, 2021 2:38pm
Quoting Nordling00
{quote} Thanks for the great and helpful info Mysterio! Working like a dog is fine since i am a cook and a butcher Well i don't really want to execute clients' positions. That sounds like a broker's job rather than a trader. I want to manage money. So hedge fund is more suitable for me. But i thought Financial Analysts are managing money not brokering? I am confused now.
You were talking about Goldman the investment bank- you wouldn't be managing money in the way you mean really. Prop trading has been done away with in investment banks. They now all have asset management arms, for Goldman it's GSAM. Research their funds, they have some good hedge funds. So it sounds like you'd be more interested in asset management, so being a researcher for an institutional fund that specialises in a particular asset class. It would be highly specialised in a particular asset class, say long/short credit, emerging market equities, developed market fixed income etc, and you'd be expected to become an expert in that one field. It is a much more interesting career but equally competitive. TBH it's rare to see FX in these funds except for hedging equity returns back to the domestic currency.
  • #616,202
  • Aug 12, 2021 2:41pm Aug 12, 2021 2:41pm
Attached Image (click to enlarge)
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yes yes yes
  • #616,203
  • Aug 12, 2021 2:47pm Aug 12, 2021 2:47pm
Quoting genadi
sold gbp/jpy at 153.11
closed at 152.40

+71 pip
  • #616,204
  • Aug 12, 2021 2:48pm Aug 12, 2021 2:48pm
1
  • #616,205
  • Aug 12, 2021 2:49pm Aug 12, 2021 2:49pm
Quoting mysterio
{quote} You were talking about Goldman the investment bank- you wouldn't be managing money in the way you mean really. Prop trading has been done away with in investment banks. They now all have asset management arms, for Goldman it's GSAM. Research their funds, they have some good hedge funds. So it sounds like you'd be more interested in asset management, so being a researcher for an institutional fund that specialises in a particular asset class. It would be highly specialised in a particular asset class, say long/short credit, emerging market...
You know i see lots of ex-Goldman traders around the internet who talks about managing their clients' money rather than brokerage. So i thought Goldman hire forex traders but of course these guys worked there back in 90s and 2000s so maybe like you said GS have changed their ways and not really care about Forex trading anymore. I gotta make a more detailed search about it. Also which prop firms would you suggest? Except FTMO, 5ers etc. cause i don't trust them and they have very strict rules.
You have to have an IQ higher than 90 to interact with this user.
  • #616,206
  • Aug 12, 2021 2:49pm Aug 12, 2021 2:49pm
Quoting genadi
sold usd/jpy at 110.51
closed at 110.41

+10 pips
  • #616,207
  • Aug 12, 2021 2:51pm Aug 12, 2021 2:51pm
Quoting Moty
{image}
You think still buying I think its touch 1.3660 ? I am looking for sell
  • #616,208
  • Aug 12, 2021 2:53pm Aug 12, 2021 2:53pm
a possible "trampoline" to jump and become bullish
if she will pass 1.37863 of course
but I think she will not spike up tonight
Attached Image (click to enlarge)
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dolce vita
  • #616,209
  • Aug 12, 2021 3:01pm Aug 12, 2021 3:01pm
i am so bad , even if i took the loss at the pivot and started to short the mf gu , i would end up with profit today
now i am in 200 $ floating loss , and hoping for a move up
i will close with loss if it break the weekly s2
Attached Image(s) (click to enlarge)
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yes yes yes
  • #616,210
  • Aug 12, 2021 3:03pm Aug 12, 2021 3:03pm
Pat great 4 hour chart. Very concise and clear. I get t.p 1.37700.
  • #616,211
  • Aug 12, 2021 3:05pm Aug 12, 2021 3:05pm
Moty you are going to be a great trader. Don’t forget it.
  • #616,212
  • Aug 12, 2021 3:16pm Aug 12, 2021 3:16pm
A hike up Table mountain(Cape Town) on Monday
  • #616,213
  • Aug 12, 2021 3:16pm Aug 12, 2021 3:16pm
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  • #616,214
  • Aug 12, 2021 3:22pm Aug 12, 2021 3:22pm
Quoting Moty
i am so bad , even if i took the loss at the pivot and started to short the mf gu , i would end up with profit today now i am in 200 $ floating loss , and hoping for a move up i will close with loss if it break the weekly s2 {image} {image}
I haven't given up on buy yet MOTY. If it breaks below 1.376, maybe, then maybe. Till then i hold
  • #616,215
  • Aug 12, 2021 3:34pm Aug 12, 2021 3:34pm
Quoting Nordling00
{quote} You know i see lots of ex-Goldman traders around the internet who talks about managing their clients' money rather than brokerage. So i thought Goldman hire forex traders but of course these guys worked there back in 90s and 2000s so maybe like you said GS have changed their ways and not really care about Forex trading anymore. I gotta make a more detailed search about it. Also which prop firms would you suggest? Except FTMO, 5ers etc. cause i don't trust them and they have very strict rules.
Yeah- they will still hire forex traders. But their job would be something like- they have Apple as a client. They need to buy 10mil Japanese Yen with US dollars for a project in Japan. The traders job would be to build the position and get the best execution for the client. They won't be trading investment ideas anymore- although i'm sure they did 20 years ago.
  • #616,216
  • Aug 12, 2021 3:35pm Aug 12, 2021 3:35pm
Quoting ChiForex
GU basing below 1.3880s on monthly turning it resistance to head toward 1.3790s support, bulls don't buy before, if bears can base it below there..will become bearish but that's for later talk..
GU within expected range. Base below 1.3790 is 1.3620s(or to be updated)
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #616,217
  • Aug 12, 2021 3:37pm Aug 12, 2021 3:37pm
Quoting Nd10
{quote} I haven't given up on buy yet MOTY. If it breaks below 1.376, maybe, then maybe. Till then i hold
I really didn't expect what GU did today.
I anticipated a move up to 1.39000 at most but it did otherwise. I'm expecting a retracement tomorrow, before I'll know if to join the seller's party. I was actually anticipating a sell tomorrow...
Sometimes the dealer just have a mind of his own .
Well, we don't give up. We keep keeping on
  • #616,218
  • Aug 12, 2021 3:38pm Aug 12, 2021 3:38pm
Quoting Nordling00
{quote} You know i see lots of ex-Goldman traders around the internet who talks about managing their clients' money rather than brokerage. So i thought Goldman hire forex traders but of course these guys worked there back in 90s and 2000s so maybe like you said GS have changed their ways and not really care about Forex trading anymore. I gotta make a more detailed search about it. Also which prop firms would you suggest? Except FTMO, 5ers etc. cause i don't trust them and they have very strict rules.
wait a minute, u need a job? u claimed u were a big shot belongs to 10% or something yet u can't make a living?
who dares wins
mashFX DSRII Return This Year: na
  • #616,219
  • Aug 12, 2021 3:47pm Aug 12, 2021 3:47pm
Quoting kenny4real
{quote} I really didn't expect what GU did today. I anticipated a move up to 1.39000 at most but it did otherwise. I'm expecting a retracement tomorrow, before I'll know if to join the seller's party. I was actually anticipating a sell tomorrow... Sometimes the dealer just have a mind of his own . Well, we don't give up. We keep keeping on
It can just be hunting liquidity below the last low-- still in an H4 demand zone so I'm keeping the bull dream alive, we'll know tomorrow.
  • #616,220
  • Aug 12, 2021 3:52pm Aug 12, 2021 3:52pm
Quoting Moty
i am so bad , even if i took the loss at the pivot and started to short the mf gu , i would end up with profit today now i am in 200 $ floating loss , and hoping for a move up i will close with loss if it break the weekly s2 {image} {image}

There is a leg up yesterday and today a counter leg down. The price is at the lower band of hourly and 5mins channel, daily low and important price level 1.3800 area. This data for me suggest that a lot of players are at this level positioning and repositioning
At this point buyers mostly are at lost.
Price is the key. It could go up from here or continue to go down
My process is always to go with trend and all trends are always in the direction of impulse.
The most recent impulse I can see is down.
I could not find info about to support buying of dollar and dumping of pound
I have decided to start selling about 40% of my current position until I can get better on price direction. The selling will be bit by bit until there is a clear breach of the low just like u mention.
This is my plan for now until I get more info from price action

I can be wrong nothing is certain except to manage our position to the best to protect our account.

Trade well mate........
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