Cable Update (GBPUSD)

Quoting priceaction

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See post #61226
and ... http://www.tradethenews.com/story_details.asp?id=376173
- Inflation Rate To Rise In Coming Months
- Surveys Show Econ Growth To Slow Further
- Credit Conditions For Consumers, Businesses Tightening
- Spare Capacity Should Help Keep CPI In Check

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Quoting salah k.

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thats good for cable bears

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Quoting nAVIN2007

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actually i will do that i will find a company i can place small lot sizesthis will be better than demo...at least i get that emotionall rush still demo is borring and actually once u go live its really almost a watse of time as there no feeling behind it at all...thx for yur support and sharing of experience

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Quoting 2be

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Hi Navin, three weeeks, by my previous standart is rather a long time to be amused or entertained for £500 only. I have been able to blow it and substantially more in less then a day when I started trading long time ago. It helped me to treat this as learning fees, who tells you that education is free?
Education is expensive, but one can cut cost substantially by being a prudent student of some threads, even on this forum, like Jmes16 and investing in some good books, and in time commited to studying them, not just a speed read them. If you find trading demo too boring and you find it too easy to pull the trigger, not being commited to it like to a live account, you can use the minimum lot size and there are some platforms that would allow it e.g. alpari UK, I thinkt the minimum lot is 0.01, which is $0.1 per pip around 5pence per pip, so it is managable. Without further improvement and studies, one might have a lot of fun, adrenalin and excitement, which will be overshaddowed by the account statement. It is a true saying that everybody gets from the market not only what they deserve but what they want, some get profits, others get bags of excitement. To trade without further improvements, one makes a choice to grab a lot of excitement from the willingly providing market, a mini Las vegas in your front room, with no air and hotel fees. I do not mean to do you any harm, Just share with you some of my past experiences, which pushed me even further into being commited to be a proffesional and disciplined trader as I can be. By no means I am all knowing and perfect trader, I will never be, but I am contiunig studying my reation to the market, market itself and the price action.
You are in good company of people who are commited to this improvements, and do not be too hard on yourself about incurred losses, that is history. Do all you can not to have substantial losses in the future,remebering that it is impossible to trade without getting stopped with a small loss.
Best wishes, and happy studies.
2be

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Quoting nAVIN2007

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actually i will do that i will find a company i can place small lot sizesthis will be better than demo...at least i get that emotionall rush still demo is borring and actually once u go live its really almost a watse of time as there no feeling behind it at all...thx for yur support and sharing of experience

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Quoting shajib

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Is it possible for g/u and e/u to move in opposite directions? That's how the fundamentals look anyways. I think even if g/u recovers today, it will be due to $ weakness and rallies are still a good sell as long as 2.005 remains unbroken.

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Quoting 2be

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Alpari Uk offers an account with the minimum of $200.00, just above £100.00. Trading with the minimum lots of 0.01, will be at 5pence per pip,affordable way I suppose to learn not to be emotionally involved in trading. Mark Douglas, Trading in the zone has been aleady reommended on this thread along other very worthwile books. Do not underestimate the impact which the study of some threads on this forum might have on you. It is not free, you have to supply time to study them. There are many good and friendly traders/posters on this forum who have provided this education free, though they have spend a lot of time, effort and money to arrive and achieve what they so generously share with all of the willing and prudent students.
I wish you to be one of them, in becoming a more profitable trader.
2be

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Quoting nAVIN2007

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Beware Guys That Are Short ...

u see even in demo i still mange to buy at the top instead of the bottom this is why im back to demo...cant trade like this ..gonna lose everytime...

on the 1 hr chart 1.9809 if the candle closes above this point i reckon kiss the short goodbye...it be a excellent bullish formation for a climb up the hill right at the r1 level..

i think the rate cut was already priced in ...

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Quoting twofeet

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It seems that price is facing difficulty crossing 1.9835... more bearish action further to come?

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Quoting Tmac

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the cut has been expected for a long time now so all the market did was react to it as expected and did its roller coaster ride as expected but a very small ride and now its back on its merry way to where it was headed before all this came out. The charts have been telling you where it was headed all week long, there was no guessing it was there to see. People kept wanting to "push" the market and you cannot do that. Learn to read the charts and know where the market is going...no method can replace charts and what they tell you. keep it simple

the market will go up and it will go down in waves, learn to ride those waves to retirement and scalp your way to profitability. long when it goes up only and short when it goes down only and both when it ranges and you can take 200 to 300 pips from all pairs daily.
tip of the dayrice will never move far from the 5ma

and beware when trading the weak against the weak, find a better pair

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Quoting Tmac

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the cut has been expected for a long time now so all the market did was react to it as expected and did its roller coaster ride as expected but a very small ride and now its back on its merry way to where it was headed before all this came out. The charts have been telling you where it was headed all week long, there was no guessing it was there to see. People kept wanting to "push" the market and you cannot do that. Learn to read the charts and know where the market is going...no method can replace charts and what they tell you. keep it simple

the market will go up and it will go down in waves, learn to ride those waves to retirement and scalp your way to profitability. long when it goes up only and short when it goes down only and both when it ranges and you can take 200 to 300 pips from all pairs daily.
tip of the dayrice will never move far from the 5ma

and beware when trading the weak against the weak, find a better pair

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