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Cable Update (GBPUSD)

  • #50,961
  • Jan 24, 2008 2:42pm Jan 24, 2008 2:42pm
the cable has been gaining for almost 12hrs!!!
  • #50,962
  • Jan 24, 2008 2:49pm Jan 24, 2008 2:49pm
anyone looking for short
  • #50,963
  • Jan 24, 2008 2:54pm Jan 24, 2008 2:54pm
Quoting AmeriTrini
um, what strength is the usd seeing, as you wrote above?
The same question, here.
If you want to take 2 years charts into account, then forget CPIs,home sales or unemployment claims, forget even interest rate statements and contemplate about huge internal US debt and trillions lost on Iraq war...

With longer term in sight, you would have to sell every dollar you can get and then probably shoot yourself for moving where you are now (sorry, stupid joke)
  • #50,964
  • Jan 24, 2008 2:57pm Jan 24, 2008 2:57pm
My 209.36 long this AM sure could have been a better trade - up 200 pips - instead I shaken out when a few pip gain. Hmmm...
  • #50,965
  • Jan 24, 2008 3:05pm Jan 24, 2008 3:05pm
Quoting AmeriTrini
um, what strength is the usd seeing, as you wrote above?
Thats my point - you are looking at a few minutes and you dont see that cable dropping from 2.12 to 1.98 is the dollar showing strength - you are too close to it and cant see the big picture
the dollar is very strong compared to where it was a couple of weeks ago

step back some
  • #50,966
  • Jan 24, 2008 3:06pm Jan 24, 2008 3:06pm
Quoting AmeriTrini
end of two days is almost here and we have a weekly bullish formation already!
We certainly do. And I cast my eyes back to what price has done in the past after such bullish weekly & daily candles.

Do you have a target in mind AmeriTrini?
  • #50,967
  • Jan 24, 2008 3:14pm Jan 24, 2008 3:14pm
Quoting JanPoko
The same question, here.
If you want to take 2 years charts into account, then forget CPIs,home sales or unemployment claims, forget even interest rate statements and contemplate about huge internal US debt and trillions lost on Iraq war...

With longer term in sight, you would have to sell every dollar you can get and then probably shoot yourself for moving where you are now (sorry, stupid joke)
No it's not a stupid joke you make a good point - BUT..

I changed 50% of my wad into USD over 2.00 and now I am spending it on fantastic cars (2) and buying a house for a tiny fraction of UK prices. When I finish buying these 'real' goods (I dont call em assets), I will not care what happens to the USD in the exchanges. I have the other 50% in gbp right now and as soon as we see 2.04/2.05 i will change that and buy some more 'real ' goods

perhaps Hillary will be president and stop the war and the deficits and my usd will go back to 1.72 which is where it was when I first came to the US.in 2004 - then I will swap the excess back to GBP and buy a holiday cottage in the yorkshire dales...

I love this exchange rate and i feel super rich.. I paid less for my 270 horse power luxury car than i did for a motorbike in the UK

god bless america and all that haha !
  • #50,968
  • Jan 24, 2008 3:16pm Jan 24, 2008 3:16pm
All i know is today i knew it was going to be bullish day, i even entered in the perfect place and scalped, lost all my profits ..i should just left the position open and it all would have been profit.
I think i have to learn to place trades and leave them be..but i suppose u need really big stop losses and this is a problem..oh well im learning, thx god its only a demo..
  • #50,969
  • Jan 24, 2008 3:33pm Jan 24, 2008 3:33pm
Quoting praguetrader
We certainly do. And I cast my eyes back to what price has done in the past after such bullish weekly & daily candles.

Do you have a target in mind AmeriTrini?
you see the same as me!! people forget that the long term charts show the current trend but the short term charts show when the trend is changing, this is something that is not obvious from the longterm(eventually it works into the long term charts) charts, but you can see it from the short term. im sorry that 1k traders like allserene can not see this.for now, my target is over 2.00!
  • #50,970
  • Jan 24, 2008 3:33pm Jan 24, 2008 3:33pm
Quoting allserene
No it's not a stupid joke you make a good point - BUT..

I changed 50% of my wad into USD over 2.00 and now I am spending it on fantastic cars (2) and buying a house for a tiny fraction of UK prices. When I finish buying these 'real' goods (I dont call em assets), I will not care what happens to the USD in the exchanges. I have the other 50% in gbp right now and as soon as we see 2.04/2.05 i will change that and buy some more 'real ' goods

perhaps Hillary will be president and stop the war and the deficits and my usd will go back to 1.72 which is where it was when I first came to the US.in 2004 - then I will swap the excess back to GBP and buy a holiday cottage in the yorkshire dales...

I love this exchange rate and i feel super rich.. I paid less for my 270 horse power luxury car than i did for a motorbike in the UK

god bless america and all that haha !

Oh goood!!!
You see, I've just been sitting in front of charts and completely forgot that there are even some real money and some real exchange operations where you can gain a lot instead just a few pips in a few minutes trade...

Naturally, America will still be a great country, even if the exchange rate to anything goes to hell. After all, in such a way the huge debt will diminish itself and there still will be a macburger for a few bucks...
  • #50,971
  • Jan 24, 2008 3:36pm Jan 24, 2008 3:36pm
Quoting AmeriTrini
you see the same as me!! people forget that the long term charts show the current trend but the short term charts show when the trend is changing, this is something that is not obvious from the longterm(eventually it works into the long term charts) charts, but you can see it from the short term. im sorry that 1k traders like allserene can not see this.for now, my target is over 2.00!

Hey dude - i said i was long and my target is over 2 also - you misquote me

yes ?

i said 1.72 in afew years when the mess is sorted out but 2.04 before then...
  • #50,972
  • Jan 24, 2008 3:38pm Jan 24, 2008 3:38pm
Quoting allserene
Thats my point - you are looking at a few minutes and you dont see that cable dropping from 2.12 to 1.98 is the dollar showing strength - you are too close to it and cant see the big picture
the dollar is very strong compared to where it was a couple of weeks ago

step back some
yea but you say that the usd is showing strength but in the last two days it lost over 400 points? and you ignore the bullish on the weekly and daily! look at your charts please and make some sense when you write.
  • #50,973
  • Jan 24, 2008 3:39pm Jan 24, 2008 3:39pm
Quoting allserene
Hey dude - i said i was long and my target is over 2 also - you misquote me

yes ?

i said 1.72 in afew years when the mess is sorted out but 2.04 before then...
so why would you go long if the usd is showing strength??
  • #50,974
  • Jan 24, 2008 3:42pm Jan 24, 2008 3:42pm
Quoting allserene
Problem with following short term trends is that the fundamentals ALWAYS assert themselves (I learned that watching 'wall street')
I like to ride longer waves ...

The only reason it's not gambling is if you know that you will win or are likely to...

look at the 2 year chart for cable - leaving a position on for all that time was a certainty - trading every few hours was not

the banks took long positions because they could afford to.
We took short term trades because we couldn't afford to lose and were forced out of them often at the stop loss - then it bounced back - sound familiar ?

The remedy is to downsize the % of your account used for margin and play a longer game - its the only time i make really good money. the interim losses don't phase me and most times it swings back....


and it means that you HAVE to take a view on economic fundamentals and herd behaviours that take longer than a few days to complete their cycle

translate that as 'patience' if you like

its not the 'big quick easy money' we would all like but it's softly softly catchee monkey...

I knew the UK property market was intercoursed last March and bought my usd just over 2.0... nobody else looked at that fundamental or cared and so it went to 2.12 and then they were shocked when cable collapsed

Now I know that the US is in the mire but usd is seeing strength... I am long and have been for 2 days and am going to ride it back up...

watch the fundamentals bud fox
you like to flip flop, dont you? the usd is showing strength, but you go long on the cable!!!
  • #50,975
  • Jan 24, 2008 3:47pm Jan 24, 2008 3:47pm
Quoting AmeriTrini
yea but you say that the usd is showing strength but in the last two days it lost over 400 points? and you ignore the bullish on the weekly and daily! look at your charts please and make some sense when you write.
I am trading the same way as you - long cable - and I keep saying so - what is wrong with you people can't you comprehend english ?

USD is very strong compared to what it was a couple of weeks ago but cable is coming back and i am riding that like you

Now just what don't you understand about that ?

You are all just jammed against the screen sweating your pathetic margin calls from minute to minute and you can't see what is happening over 2 weeks because thats beyond your mayfly-like horizons

jeez i dont mind being called names when i am wrong but I am agreeing with you people and you don't even realise !

It's like being married
  • #50,976
  • Edited 4:03pm Jan 24, 2008 3:51pm | Edited 4:03pm
you sure you're not french?
cuz you seem to be the one thats mixing up the english!!
you are speaking in 3rd person, when its supposed to be second!!!, sir or madam or whatever you are. I cant figure out from that avatar.
Im done with this, continue on if you must!
  • #50,977
  • Jan 24, 2008 3:53pm Jan 24, 2008 3:53pm
Quoting allserene
You are all just jammed against the screen sweating your pathetic margin calls from minute to minute and you can't see what is happening over 2 weeks because thats beyond your mayfly-like horizons
  • #50,978
  • Jan 24, 2008 4:04pm Jan 24, 2008 4:04pm
Quoting AmeriTrini
you sure you're not french?
cuz you seem to be the one thats mixing up the english!!
you are speaking in 3rd person, when its supposed to be second!!!, sir or madam or whatever you are. I cant figure out from that avatar.
Luckily the avatar or the grammar or the nationality or colour doesn't matter - what matters is catching the right wave and having a bigger account.. Fx is a great leveller...

You can heap coal on my head so long as I come out with more dosh than you at the end of the trade and then I can buy a dress or pants and live in france or a better house than you in your street...

You get to do the gay/race/grammar jibes and I get to spend more than you - seems like a good bargain to me...

Now unglue your hooter from your cheap screen and do some day charts and not 10 seconds
  • #50,979
  • Jan 24, 2008 4:08pm Jan 24, 2008 4:08pm
AmeriTrini can i ask what u usally have as a stop loss limit for your trades in general? ....i think i have to learn how to trade like u guys?
  • #50,980
  • Jan 24, 2008 4:10pm Jan 24, 2008 4:10pm
Quoting nAVIN2007
AmeriTrini can i ask what u usally have as a stop loss limit for your trades in general? ....i think i have to learn how to trade like u guys?
1/4 of my profit target, and my profit target is usually BIG, I dont scalp!!
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