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Cable Update (GBPUSD)

  • #104,961
  • Dec 7, 2008 5:04pm Dec 7, 2008 5:04pm
Quoting micho
but also 4 5 is big!! isnt it supposed to be 1 or 2??
currently mbtrading is 10pip spread and igmarkets is 3pips. Its good to have 2 brokers, mbtrading has 1 pip spreads as well just depends on the liquidity of the market at the time
  • #104,962
  • Dec 7, 2008 5:10pm Dec 7, 2008 5:10pm
Quoting micho
for me i dont like to trade gaps, they are clueless... no trend no volume... just freaky gap...
I agree .. gap trading is very hard and very high risk ...

I like to wait till at least Tokyo gets going in 50 mins
Blogging daily now at www.volume.zone
  • #104,963
  • Dec 7, 2008 5:20pm Dec 7, 2008 5:20pm
Quoting malcolmb14
I agree .. gap trading is very hard and very high risk ...

I like to wait till at least Tokyo gets going in 50 mins
I took a chance and netted 27 pips but you are right "high risk" I do not like trading this session at all
  • #104,964
  • Dec 7, 2008 5:23pm Dec 7, 2008 5:23pm
Here is a trade I will take today....

buy stop at 4776.....Daily chart trade ....
Stop at 4523...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 20 KB
  • #104,965
  • Dec 7, 2008 5:34pm Dec 7, 2008 5:34pm
Quoting Shermenator
Here is a trade I will take today....

buy stop at 4776.....Daily chart trade ....
Stop at 4523...

Attachment
Some can trade against the trend and make it work, I need at least the market bias on my side...LOL
  • #104,966
  • Dec 7, 2008 5:38pm Dec 7, 2008 5:38pm
Quoting NightMoves
Some can trade against the trend and make it work, I need at least the market bias on my side...LOL

No reason to be trading a dead market anyways folks. patience there are plenty of pips to be had this week.

Sundays are boring days anyway
  • #104,967
  • Dec 7, 2008 5:41pm Dec 7, 2008 5:41pm
Quoting micho
why current spreads on oanda are 15 pips?
oanda is not good place to trade. during early european and london sessions their spread gbp/usd is not les than 4 points as well as during late us sesion.
  • #104,968
  • Dec 7, 2008 5:43pm Dec 7, 2008 5:43pm
Quoting steelhead
No reason to be trading a dead market anyways folks. patience there are plenty of pips to be had this week.

Sundays are boring days anyway
Yes it is kind of like watching paint dry, but I may go to bed and get up before the London session opens and get ready for some real trading, this looks like it could be a good week lots of things setting up for something to happen
  • #104,969
  • Dec 7, 2008 5:46pm Dec 7, 2008 5:46pm


also hotspotfx software is odd, i still didnt figure how to place a correct market order its all weird..
and ib... there is nothing on their website to tell u how to register to a demo account i just downloaded the program and i dont have a login

grrrrrrrrrrrrrrrrrr
When life gives you lemons, make lemonade
  • #104,970
  • Dec 7, 2008 5:49pm Dec 7, 2008 5:49pm
With IB, you can create a demo account by selecting File->Open an Account.

it then prompts you for basic info, Name/Address, etc... and creates a demo account for you.
  • #104,971
  • Dec 7, 2008 5:51pm Dec 7, 2008 5:51pm
Quoting Mojea
With IB, you can create a demo account by selecting File->Open an Account.

it then prompts you for basic info, Name/Address, etc... and creates a demo account for you.
interactive brokers?
When life gives you lemons, make lemonade
  • #104,972
  • Dec 7, 2008 5:54pm Dec 7, 2008 5:54pm
Quoting NightMoves
Some can trade against the trend and make it work, I need at least the market bias on my side...LOL

Just fallow the price dont have a bias....
  • #104,973
  • Dec 7, 2008 5:58pm Dec 7, 2008 5:58pm
Quoting micho
interactive brokers?
u can try fxpro...have mt4..great spreads..real market price..good support...etc....and most important they r near Lebanon (cybrus based but have branch in uae www.fxpro.ae ) .

IMHO, its best to use MT4 .
  • #104,974
  • Dec 7, 2008 5:59pm Dec 7, 2008 5:59pm
When the markets look rangy from a small timeframe zoom out and look for key entries from largert timeframes...you avoid noise from the larger timeframes...that why I am seeking a trigger from the daily....that why I am also using a buy stoip....because the market has to go to a certain price to prove to me the market is shifting and momentum is coming into the market
  • #104,975
  • Dec 7, 2008 5:59pm Dec 7, 2008 5:59pm
Quoting Shermenator
Here is a trade I will take today....

buy stop at 4776.....Daily chart trade ....
Stop at 4523...

Attachment
Long @ 1.4700
SL 1.4650
No TP decided yet
  • #104,976
  • Dec 7, 2008 6:02pm Dec 7, 2008 6:02pm
Quoting gagakrimba
Long @ 1.4700
SL 1.4650
No TP decided yet

its not that I dont have a take profit ...I just have to watch how the market evolves and reacts to certain resistance areas as watching momentum...and my entry price is something that will shift momentum if price manages to get to that point.
  • #104,977
  • Dec 7, 2008 6:03pm Dec 7, 2008 6:03pm
Quoting athahira
u can try fxpro...have mt4..great spreads..real market price..good support...etc....and most important they r near Lebanon (cybrus based but have branch in uae www.fxpro.ae ) .

IMHO, its best to use MT4 .
awful reviews on the web

im off to sleep im so tired see u tomorrow
When life gives you lemons, make lemonade
  • #104,978
  • Dec 7, 2008 6:04pm Dec 7, 2008 6:04pm
Bounced of the top of the range and coming down, if I range traded I might even take that
Attached Image (click to enlarge)
Click to Enlarge Name: gbpsud range.gif Size: 27 KB
  • #104,979
  • Dec 7, 2008 6:19pm Dec 7, 2008 6:19pm
The good areas to short should be 1.48 area ( thursdays high) and then 1.4820 area (wednesdays high) with stop 1.4840 area, if price clears those 3 then we are most likely to rally further but ill be looking for some type of bullish setup before going long. Bias still dooooown

looking to short in european london session rather than asian since volume is low and they may take prices higher before going back down.
  • #104,980
  • Dec 7, 2008 6:21pm Dec 7, 2008 6:21pm
What is up with all the YEN strength, looks like it is gaining on most of the YEN crosses?
Attached Image (click to enlarge)
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