Cable Update (GBPUSD) | Page 4105 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #82,081
  • Aug 13, 2008 10:29am Aug 13, 2008 10:29am
My EA make Buy and now I am in very big loss of more than $500 Still Positions are open. But Now No margin in A/c Max. 40 pip I can stay Alive.
  • #82,082
  • Aug 13, 2008 10:30am Aug 13, 2008 10:30am
Quoting eohater
I don't mean to laugh, before I left for Canada, I had longs open. They've been closed out for one hell of a loss of 17K. I feel everyone's pain that has lost money on this pair this month! August always sucks, I'm thinking next year I won't even trade her during the month of August.
I applaud your commitment !

A lot of people would never trade again after a big loss

It happened to me in reverse in 2004 when I discovered a huge gain by mistake

I lost 7k in gbp the month before

Exciting stuff
  • #82,083
  • Aug 13, 2008 10:33am Aug 13, 2008 10:33am
be carefulll...
oil moving up...
  • #82,084
  • Aug 13, 2008 10:36am Aug 13, 2008 10:36am
Quoting Chris_35
Hi everyone
Yes this is my first post (just received posting approval) and yes I am new to trading.
After reading through many of your posts it seems that the majority of traders in this thread are are Intraday or Scalping, and I find it hard to understand why T/L are drawn from 2002/2003 to today, making it the support and then some traders expect a retrace by the end of days trading. Surely by using a six year time frame any retrace is going to be over a measure of time more in keeping with such a T/F. Or maybe I'm missing something.
Also I know I will be accused of 20/20 rear view vision but the Uk seems to be behind the States in terms of recession, so where cable soared
its now time for it to dive as we have been seeing since August 1st when it seemed to start its desent into freefall. Only one other question why why why so many Traders want to battle upstream, against the current, against the flow, against the TREND?
This is not being sarchastic, but its so that I may be better able to understand and learn from any feedback. Thank you
It's all about time frame

Financing a 6 year trend is very expensive

In the last few days I have seen people talking about trend and it depends whether you are looking at the 30 second chart or the daily/weekly/monthly


When I was a lad, there was 4 dollars to a gbp, but i dont want to use that chart

Yes it's all about time frames versus financing costs
  • #82,085
  • Aug 13, 2008 10:38am Aug 13, 2008 10:38am
Quoting allserene
I applaud your commitment !

A lot of people would never trade again after a big loss

It happened to me in reverse in 2004 when I discovered a huge gain by mistake

I lost 7k in gbp the month before

Exciting stuff

It is exciting! Losses happen and the suck, but they can be made up. I don't take them personal, it's just business.

I hope some people have made some good money on her though!

If no one has looked at August of 2007, go and look. She fell hard then ran back up!
Just digging in the trenches like everyone else!
  • #82,086
  • Aug 13, 2008 10:45am Aug 13, 2008 10:45am
Quoting Chris_35
Hi everyone
Yes this is my first post (just received posting approval) and yes I am new to trading.
After reading through many of your posts it seems that the majority of traders in this thread are are Intraday or Scalping, and I find it hard to understand why T/L are drawn from 2002/2003 to today, making it the support and then some traders expect a retrace by the end of days trading. Surely by using a six year time frame any retrace is going to be over a measure of time more in keeping with such a T/F. Or maybe I'm missing something.
Also I know I will be accused of 20/20 rear view vision but the Uk seems to be behind the States in terms of recession, so where cable soared
its now time for it to dive as we have been seeing since August 1st when it seemed to start its desent into freefall. Only one other question why why why so many Traders want to battle upstream, against the current, against the flow, against the TREND?
This is not being sarchastic, but its so that I may be better able to understand and learn from any feedback. Thank you
You are exactly right! Such profound insight from a newbie should open some eyes around here. LOL
  • #82,087
  • Aug 13, 2008 10:46am Aug 13, 2008 10:46am
holly mother she dropped that much ....i cant believe it .....2.0 seems years away now...
  • #82,088
  • Aug 13, 2008 10:50am Aug 13, 2008 10:50am
Quoting nAVIN2007
holly mother she dropped that much ....i cant believe it .....2.0 seems years away now...
Not really, things could go entirely in an opposite direction if conflict breaks out in the middle east and pushes oil prices way up.
  • #82,089
  • Aug 13, 2008 10:53am Aug 13, 2008 10:53am
Quoting eohater
What's up everyone! I'm back from Canada and I see that cable has found a new home in the pits of Hell!
no shit...i hope nobody qwas long yesterday and didnt get out...cause this currency is looking kill longs
  • #82,090
  • Aug 13, 2008 10:57am Aug 13, 2008 10:57am
Quoting shiva
Not really, things could go entirely in an opposite direction if conflict breaks out in the middle east and pushes oil prices way up.

dont count on it...think down friend...moves like this .....massive players and it make no sense to break all these support so quickly. Id never have thought it was possible if i didnt see it with my own eyes
  • #82,091
  • Aug 13, 2008 10:58am Aug 13, 2008 10:58am
Quoting eohater
It is exciting! Losses happen and the suck, but they can be made up. I don't take them personal, it's just business.

I hope some people have made some good money on her though!

If no one has looked at August of 2007, go and look. She fell hard then ran back up!
I also greatly admire your commitment, spirit, honesty and humility - qualities that are often absent on this forum.

From reading the insight you have provided in previous posts, I am certain you will make this loss back.

Good luck!
  • #82,092
  • Aug 13, 2008 10:59am Aug 13, 2008 10:59am
Quoting eohater
It is exciting! Losses happen and the suck, but they can be made up. I don't take them personal, it's just business.

I hope some people have made some good money on her though!

If no one has looked at August of 2007, go and look. She fell hard then ran back up!
Been saying that for the past two weeks. But if this month closes below 1.8100 you might want to kiss the Longs goodbye for a while.
Don't Get Bitter, Get Better
  • #82,093
  • Aug 13, 2008 11:00am Aug 13, 2008 11:00am
Quoting gammase1
I also greatly admire your commitment, spirit, honesty and humility - qualities that are often absent on this forum.

From reading the insight you have provided in previous posts, I am certain you will make this loss back.

Good luck!
Thank you! We will all make it back!
Just digging in the trenches like everyone else!
  • #82,094
  • Aug 13, 2008 11:00am Aug 13, 2008 11:00am
Ohhhhhhhhh see I was so excited after +25 pips and I went for short @ 1.8648 and I closed my trade with -24 pips so now the formula is +25-24=+1 pip.

I am so stupid didn't close when I was getting +5 pips and since the London fix hour is closing in 9 minutes plus seems like 4 candle is not closing below 1.8638 to get to 1.8580 therefore I closed my position but I am just saved from loss.

See that is why I don't like trading G/U in US session hours, because it has many ways to go up if DJIA is down, oil is down even with its zillion issues.....

Any way I am not disappointed because first I earned +25 pips then I lost -24 pips. this is just because i was so excited....
I did scalp few pips there and few pips here in my mini accounts.....

So never be excited during trading especially this week of trading.

My two cents is there is 4 hours remaining to Asia Session open and it seems like 4 hr candle is not closing below 1.8638 because it already reduced 400 pips in one session. So I think I am gonna take off at least from currency desk for today.....

See yea guys, don't be excited in trading as I was and I myself told you guys to do short when it is up and I did short when it is down @1.8648

I think it's gonna back to 1.88 by tomorrow may be or maynot be as there is no news of UK this remaining week.......................
  • #82,095
  • Aug 13, 2008 11:01am Aug 13, 2008 11:01am
Ok let's pause for thought.

Nobody, including me seems to have an opinion right now except that we are headed for 1.70 -- but the one and only question is--- will it be a fairly smooth straight line or will there be large retracements on the way ?

Everyone seems stunned

The US is still producing nasty sales figures etc so perhaps it isn't safe for the USD to go back in the water - perhaps the trading blocks are caught in a dutch auction depending on the last set of stats to be published and this will cause huge volatility if the US gets some really bad news

US exporters can't be happy with these moves

What do we reckon ?
  • #82,096
  • Aug 13, 2008 11:06am Aug 13, 2008 11:06am
Quoting allserene
Ok let's pause for thought.

Nobody, including me seems to have an opinion right now except that we are headed for 1.70 -- but the one and only question is--- will it be a fairly smooth straight line or will there be large retracements on the way ?

Everyone seems stunned

The US is still producing nasty sales figures etc so perhaps it isn't safe for the USD to go back in the water - perhaps the trading blocks are caught in a dutch auction depending on the last set of stats to be published and this will cause huge volatility if the US gets some really bad news

US exporters can't be happy with these moves

What do we reckon ?
im staying the hell out b4 i lose more..but saying this the dollar index produced a high wave candle yesterday so we might go up
Attached Image (click to enlarge)
Click to Enlarge Name: picturebmp.JPG Size: 145 KB
  • #82,097
  • Aug 13, 2008 11:10am Aug 13, 2008 11:10am
Quoting nAVIN2007
dont count on it...think down friend...moves like this .....massive players and it make no sense to break all these support so quickly. Id never have thought it was possible if i didnt see it with my own eyes
Think Oil at $200, think what happens to the currency of the biggest oil user in the world - Of course this is all hypothetical based on an assumption of a war in middle east
All hail USD!
  • #82,098
  • Aug 13, 2008 11:12am Aug 13, 2008 11:12am
Quoting allserene
Ok let's pause for thought.

Nobody, including me seems to have an opinion right now except that we are headed for 1.70
If you say so. I'm just going play channel until it breaks, and it hasn't, by my chart, my next TP is above 2.16. If we get to 1.85 I'll sell. Have fun.
  • #82,099
  • Aug 13, 2008 11:14am Aug 13, 2008 11:14am
Quoting shiva
Think Oil at $200, think what happens to the currency of the biggest oil user in the world - Of course this is all hypothetical based on an assumption of a war in middle east
All hail USD!
yeah trouble is when the world goes up in flames in circumstances that says big trouble for the US, suddenly everyone says the USD is the reserve currency and starts buying it !

Imagine oil at $200 and the US engaged in Afghanistan/Iraq/Iran and with Russia --- and the USD going up !

I can
  • #82,100
  • Aug 13, 2008 11:20am Aug 13, 2008 11:20am
Can Anybody tell me here. My total 0.28 lot is open buy usd/gbp And I am in loss $500 what should I do? I keep continue this positions or have to close it here ?
333 traders viewing now