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Cable Update (GBPUSD)

  • #71,801
  • Jun 21, 2008 9:30am Jun 21, 2008 9:30am
Hi guys....

my bloody internet died last week and had to close my long as i had no way of knowing what the hell was happening....

hope it was a good week for all of u.and many pips made...
hopefully i can join in the fun and games this week...lol

shall post analysis...tomorrow most likely..
  • #71,802
  • Jun 21, 2008 11:22am Jun 21, 2008 11:22am
Quoting Cdawg
The beauty of FX!

Well my 2 cents is if your looking at the daily chart, were still in an obvious down trend.

I'm expecting the cable to drop, I'm short 1.9740, 1.9780, if it touches 1.9800 i'll add to my short. I'm looking for at least 1.9550 area

Cheers, happy trading


Finally someone who knows what they are talking about.
  • #71,803
  • Jun 21, 2008 2:28pm Jun 21, 2008 2:28pm
hey navin nice to see u again
welcome back bro
  • #71,804
  • Jun 21, 2008 2:39pm Jun 21, 2008 2:39pm
Quoting warta
hey navin nice to see u again
welcome back bro
thx bro ...i set myself up with great buys but bloody internet died, cant believe it, holding the positins were going to be suicide man ....as stop was at 1.91 and 1.93 nearly broke.....lol

so i had to bail..i wish i didnt now thou
  • #71,805
  • Jun 21, 2008 2:47pm Jun 21, 2008 2:47pm
Quoting nAVIN2007
thx bro ...i set myself up with great buys but bloody internet died, cant believe it, holding the positins were going to be suicide man ....as stop was at 1.91 and 1.93 nearly broke.....lol

so i had to bail..i wish i didnt now thou

its ok bro dont be upset , there is a zillion of pips everyday lol

its not the end , so i think this week we will see a nice move hope so

anyway have a nice weekend and see u tomorrow night
cheers
  • #71,806
  • Jun 21, 2008 3:30pm Jun 21, 2008 3:30pm
Welcome back Bro ,
Man what a week to lose connection .You did indeed have some great buys.




Quoting nAVIN2007
thx bro ...i set myself up with great buys but bloody internet died, cant believe it, holding the positins were going to be suicide man ....as stop was at 1.91 and 1.93 nearly broke.....lol

so i had to bail..i wish i didnt now thou
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #71,807
  • Jun 21, 2008 3:38pm Jun 21, 2008 3:38pm
Quoting Bones
Welcome back Bro ,
Man what a week to lose connection .You did indeed have some great buys.
thanks bro ....i dunno if im back thou ...phone line is still dead but internet is working ...lol ..i have been giving bulldog hell over the past week ..i actually gave up!!

connection died on friday the 13th....could only ever happen to me ...i was p*ssed
  • #71,808
  • Jun 21, 2008 6:44pm Jun 21, 2008 6:44pm
Old Melvin must be feeling uncomfortable about the situation he’s in right now mustn’t he?
Even someone like me with limited market knowledge could have said he was going to have inflation problems if he lowers rates.
Yes oil and energy in general has added to his problems but I remember thinking early in the year that he really is in between a rock and hard place on rate decisions and I thought that lower rates were not an option if inflation was the banks main remit.
He’s now had to warn us Brits on our spending and wage rises which leaves traders speculating on the fact that he may have to increase rates.
A lot now depends on the Fed’s decision next week. Is the fed going to think about the US alone or the worldwide problems it will create by holding? It’s going to be interesting as is tomorrows’ open.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #71,809
  • Jun 21, 2008 7:21pm Jun 21, 2008 7:21pm
Quoting nAVIN2007
Hi guys....

my bloody internet died last week and had to close my long as i had no way of knowing what the hell was happening....

hope it was a good week for all of u.and many pips made...
hopefully i can join in the fun and games this week...lol

shall post analysis...tomorrow most likely..
Navinnnnn¡¡¡¡¡ Welcome. Where were you? Lots of people were asking about you. I am glad you are here again.
  • #71,810
  • Jun 22, 2008 4:11am Jun 22, 2008 4:11am
Quoting oscarfrx
Navinnnnn¡¡¡¡¡ Welcome. Where were you? Lots of people were asking about you. I am glad you are here again.
thank u bro!
i was basically phoning internet provider everyday fightning with them......lol i didnt follow the market at all and ploughed myself into working as trading wasnt a distraction...
i cant say i was unlucky about it cause i made money on the longs..just wasnt displined enough to stay in th trades..

we need to get to the stage where u place a entery, stop loss and target and leave it be. which was my plan only got worried when the traders in the bank connected with my broker were selling....at 1.94 thinking major sell offs because of the irsh referendome decision

on tuesday last week i closed the position.....hung in there over the weekend and 2 extra days..so i getting there emotion wise
  • #71,811
  • Jun 22, 2008 6:52am Jun 22, 2008 6:52am
Quoting nAVIN2007
thank u bro!
i was basically phoning internet provider everyday fightning with them......lol i didnt follow the market at all and ploughed myself into working as trading wasnt a distraction...
i cant say i was unlucky about it cause i made money on the longs..just wasnt displined enough to stay in th trades..

we need to get to the stage where u place a entery, stop loss and target and leave it be. which was my plan only got worried when the traders in the bank connected with my broker were selling....at 1.94 thinking major sell offs because of the irsh referendome decision

on tuesday last week i closed the position.....hung in there over the weekend and 2 extra days..so i getting there emotion wise
You don't necessarily need to place a TP Navin, but SL is imperative.
  • #71,812
  • Jun 22, 2008 8:58am Jun 22, 2008 8:58am
Quoting forexmoments
You don't necessarily need to place a TP Navin, but SL is imperative.
agreed..
  • #71,813
  • Jun 22, 2008 10:10am Jun 22, 2008 10:10am
Quoting asyed4
I am back on Wednesday night from my family vacation and the very first thing I checked my 3 lots that were lined up with long positons at 1.9592 and 1.9594 and two of them were closed with + pips and one of them was closed by Thursday afternoon.

I see most of the times it is better to close the current positions successfully but if you are stuck then one thing I learned last week is that strong your account and put SL a very far from the current position and PT is also very far from the current position and have a deep breath and turn off your computer if you are leaving for a week or so.

And that is why I did on last Friday and with the help of Allah (GOD) when I came back all of my lots by Thursday closed out successfully.

This week Cable had all news were good and that is why Cable went towards at the top. We will see next week, there is only one Nationwide red news of UK and one major news of US (Intererest rate). If they leave the interest rate is unchanged then the pair (G/U) will go down and if the Nationwide house price comes out negative then the pair would also go down. If the Euro goes up because of oil goes up and if the Nation wide house price comes out in green then the Cable could go back to its current hight and exceeds 2.0000. These possibilities are based on the fundamentals and according to the daily chart the G/U is still on the downward side. What do you guys think ??????

Alqaz.
Pretty good observation there, Alqaz. I hope you are right.
{Promotion Removed}
  • #71,814
  • Jun 22, 2008 10:57am Jun 22, 2008 10:57am
its a bit tricky but im thinking down 1.9700 and looking for signal there fr short toward down or up..likely be caught in a range like b4
red line id say is my target
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  • #71,815
  • Jun 22, 2008 10:57am Jun 22, 2008 10:57am
Quoting forexmoments
You don't necessarily need to place a TP Navin, but SL is imperative.
I've stopped using SL's and my account is doing much much better since, rarely taking a loss since cutting them out.

Most of the time, I get stopped and get back in same direction in a worse price anyways.

This is only adviseable with the current intraday trend though, trying to pick tops on a up day for instance will quickly wipe your account out.

So I look for a pull back on a up day for instance, but you never know how far it'll pull back, so keep averaging down until it's no longer a uptrend then take your losses quickly like a man!!

11 wins in a row and 57% up from lows testify to this working, but I do expect to take a 25% hit sooner or later.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #71,816
  • Jun 22, 2008 11:32am Jun 22, 2008 11:32am
Quoting Turveyd
I've stopped using SL's and my account is doing much much better since, rarely taking a loss since cutting them out.

Most of the time, I get stopped and get back in same direction in a worse price anyways.

This is only adviseable with the current intraday trend though, trying to pick tops on a up day for instance will quickly wipe your account out.

So I look for a pull back on a up day for instance, but you never know how far it'll pull back, so keep averaging down until it's no longer a uptrend then take your losses quickly like a man!!

11 wins in a row and 57% up from lows testify to this working, but I do expect to take a 25% hit sooner or later.
I agree with ya, SL is only set for disaster only. 200+ pips in my case.. Not an issue with good MM.
USD Est Non Mortuus
  • #71,817
  • Jun 22, 2008 12:01pm Jun 22, 2008 12:01pm
Quoting LuckyLurker
I agree with ya, SL is only set for disaster only. 200+ pips in my case.. Not an issue with good MM.
yes i think so too ...i find having a stop only lead to me getting it hit...seems to be a way of losing money if u ask me...

quick...

i have mine miles away too ....
  • #71,818
  • Jun 22, 2008 12:06pm Jun 22, 2008 12:06pm
Quoting LuckyLurker
I agree with ya, SL is only set for disaster only. 200+ pips in my case.. Not an issue with good MM.
I should likely have a SL 50% more than my worse case prepared to take incase of PC melting down, Power Cut / internet death!!

I NEVER plan to lose more than @40pips on my first lots, 2nd's normally 15 lower, then 15 lower again, so loss would be -40 -25 -10 = 75pips or £75

Averaging @£15 profit per trade recently, so £75 is 5 steps back, but aim to increase average profit to £30+ so only 2 steps back expect loss 10% of the time using this system and being UBER careful!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #71,819
  • Jun 22, 2008 12:19pm Jun 22, 2008 12:19pm
Quoting nAVIN2007
yes i think so too ...i find having a stop only lead to me getting it hit...seems to be a way of losing money if u ask me...

quick...

i have mine miles away too ....
Hi Nav, Good to see you back!
  • #71,820
  • Edited 12:41pm Jun 22, 2008 12:21pm | Edited 12:41pm
Quoting Runway Trade
Hi Nav, Good to see you back!
thx bro ..
looks to me as if this swissy could go up 120 pips .....cable could go to 1.9600 again possibly..any thoughts on this ladies and gents?
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