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Cable Update (GBPUSD)

  • #61,201
  • Apr 10, 2008 5:27am Apr 10, 2008 5:27am
Quoting manize
FXDD - Meta Trader is MT4 ? I am in Indonesia ...
Yes it is.
  • #61,202
  • Apr 10, 2008 5:28am Apr 10, 2008 5:28am
I believe that is all before the news release, it would be real nice to see it start walking down here.

Jim
  • #61,203
  • Apr 10, 2008 5:28am Apr 10, 2008 5:28am
Quoting 2be
I have not been able to explain to myself why the cable is going up, and to be fair, this time the charts were indicating this move up well in advance. Since I still have a short bias, I have not been able to take advantage of this move up, so I am flat atm. Thats ok, as I am working hard to have a view of the market shaped by the price action on different timeframe charts, rather then having an emotional or other opinion/s. I am aware that there are great and profitable approaches to trade the market both ways, with and against the prevailing trend which is evident on highier timeframes. At this stage after studying and trading for several years I still am bound only to take the trades in the direction of the prevailing trend. I am aware that this approach is less officient in terms of a numbers of possible trades, but preserving the trading capital has got a highier priority. At the moment my only explanation for the cable move up is that when the BOE cut is announced, the cable has got some room to move down, though there might be some contrarian reaction if the cut is only 0.25. We shall see, I do not intend to trade this news.
Happy trading to all,
2be
to be honest i think £ is much more stable that dollar, early in the week i was saying short but i couldnt believe it could drop so much, looking for a buy ...against trend and still it went down, then i exit and it starts moving up...personally i think unless u have inside info its all against u..
what i plan now to do is just draw lines on weekly and daily and 4 hr and only trade the major support or resistance, anything else i will just sit it out. I dont think any1 long right now can be certain of the long or even the short..
  • #61,204
  • Apr 10, 2008 5:32am Apr 10, 2008 5:32am
Can you Just predict the news? I mean if today interest rate is the same, GBP will up.. What will happen if interest rate is down? just to make sure...
  • #61,205
  • Apr 10, 2008 5:33am Apr 10, 2008 5:33am
Shifting down to 1 min chart. Moving stop down close in case it goes North.
  • #61,206
  • Apr 10, 2008 5:35am Apr 10, 2008 5:35am
Quoting manize
So sorry Navin ..... but I am more worst than you. Tradding with 10% remaining account. 90% blown
IN WHAT TIME FRAME bro? .......i hope u hit some winners...homeruns...its all about patience and entry...53 trades in first week proves i failed the patience test ...
I can talk a good game just cant play it .....lol (im i idiot) but learning
  • #61,207
  • Apr 10, 2008 5:42am Apr 10, 2008 5:42am
Quoting manize
FXDD - Meta Trader is MT4 ? I am in Indonesia ...
You must use Interbank in-order to match master Abuawad Strategy. There got big diff between two off them.
  • #61,208
  • Apr 10, 2008 5:45am Apr 10, 2008 5:45am
Hey all,

I am against spamming, but if you want to email me I can point you to a system that works well off of the daily chart and really cuts down the staring at the computer. Stoplosses range from 60 to 200 on the G/U. I detest spamming so you have to ask me by email.

J
  • #61,209
  • Apr 10, 2008 5:46am Apr 10, 2008 5:46am
unless it croses the red line its still long
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  • #61,210
  • Apr 10, 2008 5:48am Apr 10, 2008 5:48am
The move down has started.
  • #61,211
  • Apr 10, 2008 5:51am Apr 10, 2008 5:51am
Quoting hard1head1
The move down has started.

  • #61,212
  • Apr 10, 2008 5:54am Apr 10, 2008 5:54am
Quoting SimonJ
You are not supposed to be rich as a newbie, learn first, then be rich.
Nope it is not about being a newbie.
what makes us to blow account is not because of being
a newbie but the amount risked and what we want out of the market.

With 10% you easily blow your account, whether under 1k or 1million.
with 1-3% you can recover big losses if you are a good trader if you have
a good trading method. Or put it the other way, you can still recover
your confidence and bring trade to its sense.

With 1-3% on account above 10K you can make a small living out the market. Thus, traders trade less knowing they will make a small profit
everyday.

But 1-3% mini or micro lots is not a viable option, you cannot make
a living out of it. But even if one is not a newbie people always hope
they can turn mini account around.
  • #61,213
  • Apr 10, 2008 5:54am Apr 10, 2008 5:54am
Yes, but 80 % of the time the news will move early in the direction of the news. This is especially true with the CAD


Quoting AmeriTrini
  • #61,214
  • Apr 10, 2008 5:58am Apr 10, 2008 5:58am
i am short G/U from 9820 and waiting for 9650
  • #61,215
  • Apr 10, 2008 6:00am Apr 10, 2008 6:00am
*(uk) Boe Cuts Interest Rates By 25bps To 5.00%, As Expected
  • #61,216
  • Apr 10, 2008 6:03am Apr 10, 2008 6:03am
No, the interest rate is down to 5.00%, I believe it will went up at least for the next one hour. Can't predict the number though...
  • #61,217
  • Apr 10, 2008 6:06am Apr 10, 2008 6:06am
u know if we just looked at the chart ....we wouldnt have lost anything i think this time the news is the reason people are at a loss..still looks long to me ...
  • #61,218
  • Apr 10, 2008 6:06am Apr 10, 2008 6:06am
Missed my stop by 8 pips
  • #61,219
  • Apr 10, 2008 6:07am Apr 10, 2008 6:07am
And the cable is going south now?
Don't worry, life's too short
  • #61,220
  • Apr 10, 2008 6:07am Apr 10, 2008 6:07am
Quoting priceaction
*(uk) Boe Cuts Interest Rates By 25bps To 5.00%, As Expected
as always spike 50 pts opposite.... time to take the south train???
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