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Cable Update (GBPUSD)

  • #5,121
  • Jan 4, 2007 10:46pm Jan 4, 2007 10:46pm
Quoting dukeofdents
Rdrainey,

I basically just enjoy getting a rise out of people, it's fun to me and it makes them re-evaluate their thinking, which probably helps them as well. To put it another way, I get off on being an asshole!
I can tell. I get off by playing devil's advocate.
  • #5,122
  • Jan 4, 2007 10:50pm Jan 4, 2007 10:50pm
Are most of you guys trading tomorrow? I'm unsure whether or not I should. I'm a little afraid of the volatility.
  • #5,123
  • Jan 4, 2007 10:54pm Jan 4, 2007 10:54pm
BTW, I would stay short on GBP/USD until it starts going back up, at which time I would go long. When I was long, I'd wait until it started going down and go short. When it quits going down and starts going up I'd go long again. That's just my own personal analysis...
"The time to act is when others show signs of tire." --W.D. Gann
  • #5,124
  • Jan 4, 2007 10:55pm Jan 4, 2007 10:55pm
Damn, that analysis is hard! It makes me think too much...
"The time to act is when others show signs of tire." --W.D. Gann
  • #5,125
  • Jan 4, 2007 10:57pm Jan 4, 2007 10:57pm
Quoting dazed101
Are most of you guys trading tomorrow? I'm unsure whether or not I should. I'm a little afraid of the volatility.
Volatility allows you to make (or lose) a lot of money. You need to have a great broker, though. I tried to enter a trade for 10 solid minutes on NFP Friday with my previous broker, but every time I hit the "execute" button I got a "price has moved; order did not execute" message. My current broker honors my order every time I hit execute (for both entering and exiting positions). I do feel that it is better to stay out of trades though rather than risk losing money if you are not totally confident and/or mechanical in your trading. Nobody ever went broke by NOT trading. When in doubt, stay out.
  • #5,126
  • Jan 4, 2007 10:57pm Jan 4, 2007 10:57pm
Quoting dukeofdents
BTW, I would stay short on GBP/USD until it starts going back up, at which time I would go long. When I was long, I'd wait until it started going down and go short. When it quit going down and started going up I'd go long again. That's just my own personal analysis...

Let me see if I have got this...

When it stops going down and goes up.. go LONG.
And when it stops going up and goes down, go SHORT.

Gee, thanks for that! I always thought it was better the OTHER WAY around!
  • #5,127
  • Jan 4, 2007 11:00pm Jan 4, 2007 11:00pm
Quoting rdrainey
Volatility allows you to make (or lose) a lot of money. You need to have a great broker, though. I tried to enter a trade for 10 solid minutes on NFP Friday with my previous broker, but every time I hit the "execute" button I got a "price has moved; order did not execute" message. My current broker honors my order every time I hit execute (for both entering and exiting positions). I do feel that it is better to stay out of trades though rather than risk losing money if you are not totally confident and/or mechanical in your trading. Nobody ever went broke by NOT trading. When in doubt, stay out.
okay thanks
  • #5,128
  • Jan 4, 2007 11:00pm Jan 4, 2007 11:00pm
Well, basically, if it goes up and you're long you make money, and if it goes down and you're short you make money, too. It seems that a lot of people around here want to make it more complicated than that...
"The time to act is when others show signs of tire." --W.D. Gann
  • #5,129
  • Jan 4, 2007 11:01pm Jan 4, 2007 11:01pm
looks like 1.9338 is possible
  • #5,130
  • Jan 4, 2007 11:02pm Jan 4, 2007 11:02pm
The beautifully trending nature of this market makes it idiot-proof... Idiots?
"The time to act is when others show signs of tire." --W.D. Gann
  • #5,131
  • Jan 4, 2007 11:03pm Jan 4, 2007 11:03pm
Quoting dukeofdents
Well, basically, if it goes up and you're long you make money, and if it goes down and you're short you make money, too. It seems that a lot of people around here want to make it more complicated than that...
Duke,
We know the market is slow, but are you truly that bored?
My office is everywhere
  • #5,132
  • Jan 4, 2007 11:11pm Jan 4, 2007 11:11pm
Payrol is forcasted at 100k which looks like a lot less than last month. Is that correct?
"Only when the tide goes out will we know who is swimming naked."
  • #5,133
  • Jan 4, 2007 11:16pm Jan 4, 2007 11:16pm
Quoting pipped oFF
Payrol is forcasted at 100k which looks like a lot less than last month. Is that correct?
FF Calendar forecast says 115K, which would be down from 132K in November
My office is everywhere
  • #5,134
  • Jan 4, 2007 11:22pm Jan 4, 2007 11:22pm
last 1600 tick closed above trendline, lets see where this one closes, for now it is below, needs to climb up above 9375 for tl to hold.
Man who scratches ass should not bite fingernails
  • #5,135
  • Jan 4, 2007 11:35pm Jan 4, 2007 11:35pm
Greetings all,

if we have a bounce to the upside after the London open, would you go long up to NFP?
  • #5,136
  • Jan 4, 2007 11:40pm Jan 4, 2007 11:40pm
Quoting southernmind
Greetings all,

if we have a bounce to the upside after the London open, would you go long up to NFP?
absolutely, especially with ADP numbers coming in the way they did, I can only imagine that there would be a few speculators expecting a bad NFP number. Than again, it seems like the revision is what is really important these days.
Man who scratches ass should not bite fingernails
  • #5,137
  • Jan 4, 2007 11:48pm Jan 4, 2007 11:48pm
be carefull of this (nfp) release.there are 2 important data release.nfp along with the revision of last month.both effect the market.



Quoting pipped oFF
Payrol is forcasted at 100k which looks like a lot less than last month. Is that correct?
  • #5,138
  • Jan 5, 2007 12:12am Jan 5, 2007 12:12am
Ha ha ha ha.u really got your way to express your passion huh? .good line there...

Quoting dukeofdents
Well, basically, if it goes up and you're long you make money, and if it goes down and you're short you make money, too. It seems that a lot of people around here want to make it more complicated than that...
  • #5,139
  • Jan 5, 2007 12:16am Jan 5, 2007 12:16am
Why do I wish this was setting up for a Midnight Express right now? Would that be possible givin the current 5 minute trend assuming tomorrows news was $ positive? Accrete help on this one... or is my timing off, again?
"Only when the tide goes out will we know who is swimming naked."
  • #5,140
  • Jan 5, 2007 12:34am Jan 5, 2007 12:34am
Is it only me or is anyone else really expecting a horrid NFP # tomorrow. ADP has been pretty on since I last checked, at least in terms of relative strength compared to previous month. I can't be the only one thinking this, my guess is that many shorts will get out early, prior to NFP which should bring price back up in the 9430's. If not, they will all unwind when the NFP # comes out badly. Price is spiking again along the lower channel tl, so it would seem that if you were going to go long, this would be the place to do it(I would wait for some sort of confirmation first though).Here is a pic of the channel again and how we are spiking there.
Attached Image
Man who scratches ass should not bite fingernails
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