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Cable Update (GBPUSD)

  • #58,161
  • Mar 13, 2008 11:31am Mar 13, 2008 11:31am
Quoting AmeriTrini
Nav, there is no escaping the loss of money. So, get on the bandwagon and start trading real capital and get a feel for the real psychology of trading, right now you are just wasting valuable time trading a demo account. Trust me, you will never be perfect an neither will anyone else. JUST DO IT!!
I will buddy ..definately this monday! ... friday never a good day to trade every1 looks to close on there positions...but monday for sure! gearing towards it..
  • #58,162
  • Mar 13, 2008 12:26pm Mar 13, 2008 12:26pm
What about bearish to 50% at 2.0192?
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  • #58,163
  • Mar 13, 2008 12:41pm Mar 13, 2008 12:41pm
good point because fundamentals might back this theory up and then shoot cable to 450 area next week.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,164
  • Mar 13, 2008 12:47pm Mar 13, 2008 12:47pm
dollar finding real strength at the moment
just take a look at commodities
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,165
  • Mar 13, 2008 1:07pm Mar 13, 2008 1:07pm
hi salah, i've been trading live for quite sometime now, but i am not well versed in the commodities area, can u tell me how does different commodities affect different currencies? thanks.. really hope you can help me out and gimme a hand towards this..

also, does anyone know how does the NYSE index, or the Dow or any stock market affects which pair? thanks.. really appreciate if someone can help me out..
  • #58,166
  • Mar 13, 2008 1:13pm Mar 13, 2008 1:13pm
Quoting lyy.sg
hi salah, i've been trading live for quite sometime now, but i am not well versed in the commodities area, can u tell me how does different commodities affect different currencies? thanks.. really hope you can help me out and gimme a hand towards this..

also, does anyone know how does the NYSE index, or the Dow or any stock market affects which pair? thanks.. really appreciate if someone can help me out..
ok man no problem but i am new as this too
heres how i see it
dollar goes opposite direction of commodities( gold, silver e.t.c..)
so when commodities fly dollar sinks and vice versa
i believe when dollar sinks cable gets stronger and also vice versa

as for Dow it has a strong correlation with GBP/JPY they follow each other i think For more information on this particular subject theres a thread for gbp/jpy with great analysts (like karmostaji e.t.c...)
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,167
  • Mar 13, 2008 1:20pm Mar 13, 2008 1:20pm
The dollar is not influenced by the commodities. The commodities themselves are influenced by the dollar. A weak dollar means that other countries find it cheaper to buy oil and gold which is traded in USD. Therefore the price of these commodities increases as is happening with oil and gold.
  • #58,168
  • Mar 13, 2008 1:23pm Mar 13, 2008 1:23pm
the gbp/usd is going to fly high as this is a temporary downfall before the rise. The downfall is usually due to people who have shorted putting in more shorts to try and average down their positions. So once they have been wiped out the pound will rise again to around 20450 level

just my opinion.
  • #58,169
  • Mar 13, 2008 1:32pm Mar 13, 2008 1:32pm
Quoting Gubster
the gbp/usd is going to fly high as this is a temporary downfall before the rise. The downfall is usually due to people who have shorted putting in more shorts to try and average down their positions. So once they have been wiped out the pound will rise again to around 20450 level

just my opinion.
don't be in a rush to go long, make sure everything is pointing that way.
If I Go Broke Trying Then I Will die happy.
  • #58,170
  • Mar 13, 2008 1:33pm Mar 13, 2008 1:33pm
Quoting Gubster
The dollar is not influenced by the commodities. The commodities themselves are influenced by the dollar. A weak dollar means that other countries find it cheaper to buy oil and gold which is traded in USD. Therefore the price of these commodities increases as is happening with oil and gold.
well actually i have to disagree when commodities sink that means they are cashed in dollar. so it is a relationship based on opposition u can witness it on ur screen.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #58,171
  • Mar 13, 2008 1:37pm Mar 13, 2008 1:37pm
NAVIN you are better off getting a spread betting account to trade the financials as it is tax free in the UK.
  • #58,172
  • Mar 13, 2008 1:56pm Mar 13, 2008 1:56pm
Quoting Gubster
NAVIN you are better off getting a spread betting account to trade the financials as it is tax free in the UK.
yeah i have considered that...but i love learning about how to trade and its very much become a passion as wel as a hobby ....
  • #58,173
  • Mar 13, 2008 2:08pm Mar 13, 2008 2:08pm
Quoting nAVIN2007
yeah i have considered that...but i love learning about how to trade and its very much become a passion as wel as a hobby ....

yes bu u can trade just the same on that account as you do on forex accounts. no difference its just that the tax man wont get any profits!!
  • #58,174
  • Mar 13, 2008 2:11pm Mar 13, 2008 2:11pm
Quoting Gubster
yes bu u can trade just the same on that account as you do on forex accounts. no difference its just that the tax man wont get any profits!!
yeah thats a good idea ...do u do this?
  • #58,175
  • Mar 13, 2008 2:15pm Mar 13, 2008 2:15pm
Quoting Gubster
NAVIN you are better off getting a spread betting account to trade the financials as it is tax free in the UK.
yes contracts for difference are good in the UK as you can make 8800gbp (ish) in gains with no tax and claim losses

Spread betting has 2 or 3 pip spreads and no tax at all

If I made huge gains in the UK I pay nothing on the first 8800gbp and then 40% all the way up

in the US its 15% tax at least from the ground up - so the US system favours the rich and the UK system favours small players then hammers the big players over 8800gbp gains

the UK has stamp duty on purchases and vat to pay on larger commissions so small traders probably are no different in the US and the UK - but the US is the place to be for real capitalists

The US still has a 17th century pilgrim's attitude to 'hard liquor' and gambling and prostitution so yes tax free spreadbetting is a great advantage in the UK

Oh I used to love sitting in the park with a hooker and a glass of wine while spreadbetting on my blackberry
  • #58,176
  • Mar 13, 2008 2:16pm Mar 13, 2008 2:16pm
yes. i also trade covered warrants with tdwaterhouse. im in long for a warrant for gbp to finish over 2.05 by june 20. can make some good money trading them as there usually is always a period where you are in profit but need some good money upfront.
  • #58,177
  • Mar 13, 2008 2:50pm Mar 13, 2008 2:50pm
EU looks a good short people, as it's a range day and extended on my range and towards the days highs, why did EU hold up with GU dumped alittle ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58,178
  • Mar 13, 2008 2:59pm Mar 13, 2008 2:59pm
Quoting Turveyd
EU looks a good short people, as it's a range day and extended on my range and towards the days highs, why did EU hold up with GU dumped alittle ??
You reckon EURUSD looks good for a short? Really? hmmm...
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  • #58,179
  • Mar 13, 2008 3:03pm Mar 13, 2008 3:03pm
A short term short for 20 - 30pips, longer term no, so yes there is a risk potential. ( as per always )

Should shorted UJ thats dumped 30pips same time, keeping EU a float I figure.



Time will tell!!!


* it'll be my first failed trade I'm Rec'd if it does fail outta the 10 or so I've rec'd!! *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #58,180
  • Mar 13, 2008 3:08pm Mar 13, 2008 3:08pm
Quoting Turveyd
EU looks a good short people, as it's a range day and extended on my range and towards the days highs, why did EU hold up with GU dumped alittle ??

u were saying ...lol
damn cable...today is the day i get caught...
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