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Cable Update (GBPUSD)

  • #104,081
  • Dec 4, 2008 4:05am Dec 4, 2008 4:05am
Quoting micho
lol thats nothing, crown takes 1 minute sometimes... crazy!
Thats just crazy I wouldnt be able to make a penny using your broker. If you cant get a decent ECn Broker then just use IGindex or IGmarkets, decent enough as deal desk brokers go
  • #104,082
  • Dec 4, 2008 4:06am Dec 4, 2008 4:06am
Quoting gammase1
are you serious???? the spread is vital. if you place 500 trades a year, irrespective of whether they are winning positions or not, you are giving away 1,500 pips ($15k with standard lots) on a 3 pip spread. however, with a 5 pip spread, you are gifting your broker a total of 2,500 pips ($25k).

of course spreads and swap cost matter. they are vital, in fact, over the course of a year.
DEAR...ARE YOU WORKING FOR 5 PIPS??!!...IF YOU WON 100 PIPS AND LOST 20 PIPS THATS GOOD AS I KNOW, INSTEAD OF HAVING 120$ YOU GOT 100$ YOU HAVE LOOS ABOUT 15%...WHY YOU ARE LOOKING FOR 20PIPS AND FORGET TE 100 PIPS???!! GREEEEEEEEEDY
what you get in the wind goes through the storms
  • #104,083
  • Dec 4, 2008 4:10am Dec 4, 2008 4:10am
Quoting alcando
Ok, If I said that was fekkin awesome would you believe me? 270 pips this morning and my weekly pip target smashed. Scalped a 40 pip long but I think there will be a bit of movement down prior to the rates cut and then some profit taking hopefully. Either way, pips in pockets, smiles on faces and I know the sun is shining brightly above those rainclouds...

Oh and a rate cut will help my mortgages.... Score!!
i think you're having a good week, good for you, particularly liked the comment about the sun.... need to remind myself of that.

may the pips be with you
  • #104,084
  • Dec 4, 2008 4:10am Dec 4, 2008 4:10am
ig markets allows 1:50 leverage if not mistaken. its small.
  • #104,085
  • Dec 4, 2008 4:11am Dec 4, 2008 4:11am
Quoting i.shawish
DEAR...ARE YOU WORKING FOR 5 PIPS??!!...IF YOU WON 100 PIPS AND LOST 20 PIPS THATS GOOD AS I KNOW, INSTEAD OF HAVING 120$ YOU GOT 100$ YOU HAVE LOOS ABOUT 15%...WHY YOU ARE LOOKING FOR 20PIPS AND FORGET TE 100 PIPS???!! GREEEEEEEEEDY

no, but if i can choose between having them and giving them to an anonymous broker - ill choose first option ;-)
  • #104,086
  • Dec 4, 2008 4:12am Dec 4, 2008 4:12am
Quoting i.shawish
DEAR...ARE YOU WORKING FOR 5 PIPS??!!...IF YOU WON 100 PIPS AND LOST 20 PIPS THATS GOOD AS I KNOW, INSTEAD OF HAVING 120$ YOU GOT 100$ YOU HAVE LOOS ABOUT 15%...WHY YOU ARE LOOKING FOR 20PIPS AND FORGET TE 100 PIPS???!! GREEEEEEEEEDY
my friend, that's useless; paying 20 pips from a 100 pip win, when you could be paying only 4 pips with another broker. that's common sense on a trader's part, wanting more in his pocket rather than that of a greedy broker, who are making free money.

fair enough, it wouldn't hurt quite as much paying extortionate spreads on winning trades. but what about paying an additional 20 pips spread on a 30 pips losing position, meaning the loss is 50 pips, an addtional $200? wide spreads mean that one needs a much greater ratio of winning trades in order to be profitable over the long term. it is difficult enough to achieve long term success in this game, without having the hinderence of a greedy broker. think about it.
  • #104,087
  • Dec 4, 2008 4:20am Dec 4, 2008 4:20am
Quoting vorschlag
ig markets allows 1:50 leverage if not mistaken. its small.
wow how much leverage do you use?
  • #104,088
  • Dec 4, 2008 4:21am Dec 4, 2008 4:21am
Quoting gammase1
my friend, that's useless; paying 20 pips from a 100 pip win, when you could be paying only 4 pips with another broker. that's common sense on a trader's part, wanting more in his pocket rather than that of a greedy broker, who are making free money.

fair enough, it wouldn't hurt quite as much paying extortionate spreads on winning trades. but what about paying an additional 20 pips spread on a 30 pips losing position, meaning the loss is 50 pips, an addtional $200? wide spreads mean that one needs a much greater ratio of winning trades in order...
I AM APSOLUTELY AGREE WITH YOU...BUT IF YOU HAVE TO CHOOSE BTWEEN LOW SPREAD (LIKE OUR BITCH CROWN) AND FAST EXECUTION WHAT WILL YOU CHOOSE...WE HAVE BIG PROBLEM WITH THEM...ITS APPEARS THET WE MUST WORKING WITH PO THAN INSTANT.EXEC. TO BE GOOD FOR US...I LOST 45PIPS IN THATS DOWN MOVE BUT WHEN I DECIDE TO GET THEM BACK FOR ANOTHER LONG I COULDN`T...IS IT CLEAR NOW?! YOU ARE OLDER THAN ME IN FOREX BUT THIS PROBLEM IS VERY BAD..I DESTROID MY MOUSE WHILE CLICKING ON BUY ORDER!!!F**K THEM
what you get in the wind goes through the storms
  • #104,089
  • Dec 4, 2008 4:23am Dec 4, 2008 4:23am
Quoting Robrain
no, but if i can choose between having them and giving them to an anonymous broker - ill choose first option ;-)
I WILL NOT GIVE THEM TO MY FATHER!!! THIS IS WHY I CHOOSE CROWN FOREX BECAUSE THEY HAVE 1PIP FIXED...
what you get in the wind goes through the storms
  • #104,090
  • Dec 4, 2008 4:26am Dec 4, 2008 4:26am
Quoting i.shawish
I AM APSOLUTELY AGREE WITH YOU...BUT IF YOU HAVE TO CHOOSE BTWEEN LOW SPREAD (LIKE OUR BITCH CROWN) AND FAST EXECUTION WHAT WILL YOU CHOOSE...WE HAVE BIG PROBLEM WITH THEM...ITS APPEARS THET WE MUST WORKING WITH PO THAN INSTANT.EXEC. TO BE GOOD FOR US...I LOST 45PIPS IN THATS DOWN MOVE BUT WHEN I DECIDE TO GET THEM BACK FOR ANOTHER LONG I COULDN`T...IS IT CLEAR NOW?! YOU ARE OLDER THAN ME IN FOREX BUT THIS PROBLEM IS VERY BAD..I DESTROID MY MOUSE WHILE CLICKING ON BUY ORDER!!!F**K THEM
they do sound like a useless broker, as i have heard many complain about shit execution from Crown, which is something that infuriates me no end. but you can get brokers with tighter spreads and faster and more reliable executions. it needn't be an either or situation.

good luck.
  • #104,091
  • Dec 4, 2008 4:28am Dec 4, 2008 4:28am
Quoting PipLand
wow how much leverage do you use?
the bigger the leverage the better. It allows to use less money for margin. with bigger leverage I can use it not to the limit. Having 1:200 leverage I can buy the same lot as if I had 1:50 leverage, but use 4 times less money for margin.
  • #104,092
  • Dec 4, 2008 4:30am Dec 4, 2008 4:30am
Cheers Beeps. 2 fantastic weeks maketh a man a happy one.

And may the pips bless your pocket too...

Quoting Beeps
i think you're having a good week, good for you, particularly liked the comment about the sun.... need to remind myself of that.

may the pips be with you
Ride the Bulls bearback!
  • #104,093
  • Dec 4, 2008 4:30am Dec 4, 2008 4:30am
Quoting gammase1
they do sound like a useless broker, as i have heard many complain about shit execution from Crown, which is something that infuriates me no end. but you can get brokers with tighter spreads and faster and more reliable executions. it needn't be an either or situation.

good luck.
THATS THE IDEA...THE IDEAL CASE, LOW SPREAD AND FAST EXEC. THEN WE WILL GET THE 1 MILL.$ PROFIT....AS I SEE IN MY TRADING, I MUST BE BILLIONER IN 2 MONTHS AGO!!!
THANKS BRO..I WILL SERCH FOR OTHER BROKER OR UPDATE MY WORKING TO PUT MY PO ON THE GOOD PLACES, THIS MEAN LONG TRADING STRATIGY...
what you get in the wind goes through the storms
  • #104,094
  • Dec 4, 2008 4:31am Dec 4, 2008 4:31am
i did it guys first time....i see green stuff

im back in it!!!!!!
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  • #104,095
  • Dec 4, 2008 4:33am Dec 4, 2008 4:33am
Quoting vorschlag
the bigger the leverage the better. It allows to use less money for margin. with bigger leverage I can use it not to the limit. Having 1:200 leverage I can buy the same lot as if I had 1:50 leverage, but use 4 times less money for margin.
If I used that much leverage I would blow my account in seconds
  • #104,096
  • Dec 4, 2008 4:34am Dec 4, 2008 4:34am
Quoting nAVIN2007
i did it guys first time....i see green stuff

im back in it!!!!!!
Nice work
  • #104,097
  • Dec 4, 2008 4:37am Dec 4, 2008 4:37am
Quoting PipLand
If I used that much leverage I would blow my account in seconds
really? I currently use 1:500 leverage. and I am alive for 6 month already with profit.
  • #104,098
  • Dec 4, 2008 4:38am Dec 4, 2008 4:38am
Quoting nAVIN2007
i did it guys first time....i see green stuff

im back in it!!!!!!
Good for you nAV

Crazy SL though....
  • #104,099
  • Dec 4, 2008 4:40am Dec 4, 2008 4:40am
Quoting nAVIN2007
i did it guys first time....i see green stuff

im back in it!!!!!!
Nice one Navin!

You closing before MPC decision?

I took small 20 pip scalp on short this morning, but am flat now. I think cable could initially rally should the rate cut be either in line or greater than expectations. This was how price action played out after last month's bigger than expected cut, with the markets rewarding the pro-active BOE. Paradoxically, I think the markets could punish sterling if the cut is less than expected, as this would be viewed as inaction from the MPC.

Not willing to trade on the above theory, so will wait until markets settle before looking for another entry.
  • #104,100
  • Dec 4, 2008 4:41am Dec 4, 2008 4:41am
The spread at fxopen is constant 3 pips except during the dec and new year holidays where it will be triple due to low volume
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