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Cable Update (GBPUSD)

  • #99,081
  • Nov 18, 2008 6:42am Nov 18, 2008 6:42am
Quoting micho
you cant say that, we all do like you but this is wrong

forex has stop loss and take profit level... you should not close the trade manually

you could however set it as BE when it goes with you for nice pips just in case it came back
yeah, if we close manually it will haunt us back. the broker will eat you up especially when volatile comes. and december is always a HOLIDAY time for all the brokers so watch out all the scalper. hehe...
  • #99,082
  • Nov 18, 2008 6:42am Nov 18, 2008 6:42am
damn this price level brings back a deja vu from yesterday's boring Cable afternoon. Not this time...
Ride the Bulls bearback!
  • #99,083
  • Nov 18, 2008 6:50am Nov 18, 2008 6:50am
Quoting PipLand
But once you have your 20 does that mean you stop trading for the day? what if theres another great set up round the corner?
Yep stop trading for the day, i know it's really really difficult to stop, but need to be disiplined....
  • #99,084
  • Nov 18, 2008 6:51am Nov 18, 2008 6:51am
Quoting spintrader
That's a good system, I've used similar one's in the past, but can I ask on occasoion when it's clearly going to run a long way, would it not make sense to let it get to +40 pips, and then place a stoploss at +20, then you are without risk but with the chance of making 200+ pips- or 10 days worth of trading for you?
No i don't let it run, but you could place a stop loss if you wish, i have my strict plan and i stick to it 100% ....
  • #99,085
  • Nov 18, 2008 6:53am Nov 18, 2008 6:53am
Quoting robertdbutts
Yep stop trading for the day, i know it's really really difficult to stop, but need to be disiplined....
That used to be my problem, wanting to trade all the time. But stoping at a 20 pip target that takes some discipline!!
  • #99,086
  • Nov 18, 2008 6:55am Nov 18, 2008 6:55am
reading and posting on this forum really helps with the patience factor, especially when you know where all waiting for the same thing!
  • #99,087
  • Nov 18, 2008 7:02am Nov 18, 2008 7:02am
Quoting PipLand
reading and posting on this forum really helps with the patience factor, especially when you know where all waiting for the same thing!
if there are actions..u will see alot of ppl posting charts here...

Sonic
  • #99,088
  • Nov 18, 2008 7:20am Nov 18, 2008 7:20am
Quoting micho
hey yo nice to hear from you buddy
welcome
Thank you!
Am ready to make my mark on the forex bussines
And I think learning from this forum is a good start to learn to trade for myselfs
{Promotion Removed}
  • #99,089
  • Nov 18, 2008 7:28am Nov 18, 2008 7:28am
If the current 1hr candle closes like that, could it be an evening star or am i just stretching my imagination
  • #99,090
  • Nov 18, 2008 7:32am Nov 18, 2008 7:32am
well dont ask me why this thing is going down even after bad news from ppi... but i think its gravity
When life gives you lemons, make lemonade
  • #99,091
  • Nov 18, 2008 7:35am Nov 18, 2008 7:35am
Quoting micho
well dont ask me why this thing is going down even after bad news from ppi... but i think its gravity

USD http://www.forexfactory.com/images/m...mpact_high.gif PPI m/m
http://www.forexfactory.com/images/m...etail_star.gif -2.8%
-1.9% -0.4%

It's the only explanation.

Unless the bad GBP news from the morning are now being absorbed...
  • #99,092
  • Nov 18, 2008 7:49am Nov 18, 2008 7:49am
Quoting Vourvoul
USD http://www.forexfactory.com/images/m...mpact_high.gif PPI m/m
http://www.forexfactory.com/images/m...etail_star.gif -2.8%
-1.9% -0.4%

It's the only explanation.

Unless the bad GBP news from the morning are now being absorbed...
Apparently data wasnt so bad heres from dailyFX site:

"U.K. CPI came in better than expected in October, slipping to 4.5% y/y versus a market median estimate for 4.8% and down from a 16-year higher of 5.2% in September. CPI fell 0.2% on the month, with the largest downward effects coming from transportation costs and cheaper fuel. The core reading fell to 1.9% y/y from 2.2% in September. Meanwhile, the RPI dipped to 4.2% (median 4.6%) from 5.00% and RPIX fell to 4.7% (median 5.2%) from 5.5%. Overall, today's data confirms that inflation should now be coming down rapidly and that the BoE's main concern will be the risk for deflation.
Meanwhile, Pound (GBP) mixed after U.K. CPI slowed to 4.5% y/y in October, which was well below the consensus and is the first drop since August 2007. The biggest downward effect on CPI came from cheaper fuel and transport cost, according to the ONS. Cable firmed up to traded back in to 1.5015 versus 1.4980-85, while EUR-GBP moved up to 0.8418 before turning back in to 0.8395. Elsewhere, the U.K. Treasury said that there is no automatic right of access to government recapitalization scheme from bank. If capital is required it will carry terms and conditions, which include dividend policy, remuneration, lending and wider public issues. Banks will have to meet an eligibility criterion, which includes capitalization plans, a sustainable business model and clear funding profit and credible management. If the Treasury if asked to subscribe or underwrite bank share if would be at a discount to market price or placing price."
  • #99,093
  • Nov 18, 2008 7:53am Nov 18, 2008 7:53am
The core US PPI is +0.4
  • #99,094
  • Nov 18, 2008 7:59am Nov 18, 2008 7:59am
Quoting laza
The core US PPI is +0.4
yeah that kicked the Yen for a bit but hardly touched the £
  • #99,095
  • Nov 18, 2008 8:02am Nov 18, 2008 8:02am
WELL TRADING TODAY WAS SO SLOW YUCK
When life gives you lemons, make lemonade
  • #99,096
  • Nov 18, 2008 8:04am Nov 18, 2008 8:04am
Quoting PipLand
yeah that kicked the Yen for a bit but hardly touched the £
it waits for TIC and Bernanke.
  • #99,097
  • Nov 18, 2008 8:14am Nov 18, 2008 8:14am
trading sucks today... snatched +20 and in the morning -13... so 7$ im rich loooooool
When life gives you lemons, make lemonade
  • #99,098
  • Nov 18, 2008 8:18am Nov 18, 2008 8:18am
Yup we have been spoilt by the wonderful volatility of collapsing economies and bankrupt banks... We need another bubble to burst or presidential rumour or something exciting..


Quoting micho
trading sucks today... snatched +20 and in the morning -13... so 7$ im rich loooooool
Ride the Bulls bearback!
  • #99,099
  • Nov 18, 2008 8:28am Nov 18, 2008 8:28am
my technical said GU will going down and try to reach 1.4553 to perform double bottom
Artist lead and hacks ask for a show of hands.
  • #99,100
  • Nov 18, 2008 8:29am Nov 18, 2008 8:29am
http://financialservices.house.gov/h...ervices&wait=2

link to live bernanke and paulson hearings
Trading is 80% Emotional, 20% Technical
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