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Cable Update (GBPUSD)

  • #32,141
  • Sep 21, 2007 6:25am Sep 21, 2007 6:25am
Would someone ring a bell at the top because I am just enjoying a choccy and my concentration has gone - perhaps I should go to concentration camp...
  • #32,142
  • Sep 21, 2007 6:31am Sep 21, 2007 6:31am
Quoting ClockTrader
Dude, closing the position in profits is greed,

If I were in your shoes I'd put 80 pips trailing BE on euro and 120 trailing BE on cable. I'll try to share a visual example with you on this topic in future and explain my point.

In your words, before NFP did ya know the wave you were on, you never know which one is a silver bullet ?
I do that... my silver bullet was long euro 5 min after the big rate cut LOL...
  • #32,143
  • Sep 21, 2007 6:35am Sep 21, 2007 6:35am
California expects a recession as their houseing sells plumments, Not a big deal as the worlds 8th largest economy.
Just Trade It
  • #32,144
  • Sep 21, 2007 6:42am Sep 21, 2007 6:42am
just as an aside, why is the Dow going for 14k when the world is in disarray and housing is collapsing and oil is $82 ?

Makes me wonder if 2.06 is coming back and the shark wasnt in the water after all... and its business is usual and nothing has changed - or is it a bull trap ? 14k was a bull trap last time so why not again.. not shorting that thing until it goes 14050 and even then it might only be short term jitters
  • #32,145
  • Sep 21, 2007 6:42am Sep 21, 2007 6:42am
Quote
I do that... my silver bullet was long euro 5 min after the big rate cut LOL...

if u indeed knew your silver bullet position, you would not have closed it in order to make your so called target, rather just put a BE 80 points below euro highs.

Fear of losing these trailing 80 points is greed not closing in profits to cover target.
Hello World!
  • #32,146
  • Sep 21, 2007 6:49am Sep 21, 2007 6:49am
Quoting allserene
just as an aside, why is the Dow going for 14k when the world is in disarray and housing is collapsing and oil is $82 ?

Makes me wonder if 2.06 is coming back and the shark wasnt in the water after all... and its business is usual and nothing has changed - or is it a bull trap ? 14k was a bull trap last time so why not again.. not shorting that thing until it goes 14050 and even then it might only be short term jitters
I can answer the oil question for you. Historically Oil has always been priced in USD. Last year when Oil was at USD70, people were already calling foul. then again USD wasn't as weak as it is today.

Today USD is pretty oversold and a cheap USD is helping to cushion the rise in oil prices. Hence, I don't think its an issue. global demand is also providing a good support for oil prices. not to mention we are heading into winter which typically we should see high consumption of oil/gas. Add diminishing supply inventory in with a bit of salt, we could see oil heading towards 90 by year end.
  • #32,147
  • Sep 21, 2007 6:49am Sep 21, 2007 6:49am
Sometimes your just not sure, expecially when looking at the short term charts. DISCIPLINE BWR LOOK AT THE DAILY AND 4HR ONLY. DAMMIT.
Just Trade It
  • #32,148
  • Sep 21, 2007 6:52am Sep 21, 2007 6:52am
Quoting ClockTrader
if u indeed knew your silver bullet position, you would not have closed it in order to make your so called target, rather just put a BE 80 points below euro highs.

Fear of losing these trailing 80 points is greed not closing in profits to cover target.
What can I say? I'm a chicken. po po po...
  • #32,149
  • Sep 21, 2007 6:52am Sep 21, 2007 6:52am
Courtesy of Bloomberg
http://www.bloomberg.com/apps/news?p...0MU&refer=home
  • #32,150
  • Sep 21, 2007 7:01am Sep 21, 2007 7:01am
Greed not greed, patience, not patience, whatever.. It is all just the question do you have a detailed and strict plan and most of all can you stick to it. That's horribly difficult sometimes. You have to cut off your nerves and all human nature feelings and all that shit and just do it like a robot... Now that's tough.... IMHO.. I am gonna practice more next week... This bit
.
  • #32,151
  • Sep 21, 2007 7:02am Sep 21, 2007 7:02am
Quoting leachimeewg
Courtesy of Bloomberg
http://www.bloomberg.com/apps/news?p...0MU&refer=home

LOL...

Sarkosy is becoming a pain in the a** for Trichet. They have exchanged some pretty harsh word to each other via press...

I'm wondering if Sarkosy is becoming a destabilizing factor in Europe as a whole, you know? ... Like an European HUGO CHAVES or something
  • #32,152
  • Sep 21, 2007 7:03am Sep 21, 2007 7:03am
Quote
What can I say? I'm a chicken. po po po...

As I was speaking of a visual example, so here we have one, at one point I was like +20% up in equity early this month with these positions, of course we don't think of what I could have made, BUT THUS we can learn from past and not re-commit the mistakes.

Finally I landed in -5% coz I didn't use BE rightfully, I just kept digging the pit, kept raising BE to SL hoping it'll fall down.

But then I learnt that I MUST MUST carefully use BE or a very very tight SL once my positions are in decent profits.

My attitude remains same, ride on a wave, don't be greedy coz most of the times after taking huge profits, I've lost huge part of them back. Better kill time riding on positions in profits.

Great is the day when I don't lose
Great is the week when I don't lose
Great is the month when I don't lose

COZ THEN the probability of making pips is supposed to be high.
NOT losing to FX is a winning game in itself.
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Hello World!
  • #32,153
  • Sep 21, 2007 7:05am Sep 21, 2007 7:05am
Quoting cesarnc
LOL...

Sarkosy is becoming a pain in the a** for Trichet. They have exchanged some pretty harsh word to each other via press...

I'm wondering if Sarkosy is becoming a desstabilizing factor in Europe as a whole, you know? ... Like an European HUGO CHAVES or something

One word. French.
Just Trade It
  • #32,154
  • Sep 21, 2007 7:06am Sep 21, 2007 7:06am
Quoting cesarnc
LOL...
Like an European HUGO CHAVES or something
  • #32,155
  • Sep 21, 2007 7:09am Sep 21, 2007 7:09am
okay I am off to the store, SL in place go baby go.
Just Trade It
  • #32,156
  • Sep 21, 2007 7:09am Sep 21, 2007 7:09am
Quoting leachimeewg
You laugh, huh? This MF is talking and walking like the king of Americas now that Oil is soaring...

Venezuela's people themselves see not a dime of the cash...
  • #32,157
  • Edited 7:16am Sep 21, 2007 7:14am | Edited 7:16am
Quoting cesarnc
You laugh, huh? This MF is talking and walking like the king of Americas now that Oil is soaring...

Venezuela's people themselves see not a dime of the cash...
I wasn't laughing abt Hugo, don't take it personal. I'm just tickled by the way you compared sarkozy to him.

Same thing happening in Russia with Putin and his gang.

Having someone too powerful in charge of the country is always a double edged sword.
  • #32,158
  • Sep 21, 2007 7:15am Sep 21, 2007 7:15am
GU TF D1 EMA 5 and EMA 10 almost crossing
RSI above 50
stocth open up
Nice position to buy for long haul
Credit..
BAby pips...
  • #32,159
  • Sep 21, 2007 7:20am Sep 21, 2007 7:20am
Quoting rizal1976
GU TF D1 EMA 5 and EMA 10 almost crossing
RSI above 50
stocth open up
Nice position to buy for long haul
Credit..
BAby pips...
Goog morning... I am buying since 2 days now....
.
  • #32,160
  • Sep 21, 2007 7:20am Sep 21, 2007 7:20am
Folks Side bets open now.
"What do you think will be the situation when market closes"
CABLE / FIBER

rizal1976 - LONG CABLE

leachimeewg - SHORT BOTH
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