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Cable Update (GBPUSD)

  • #108,861
  • Dec 31, 2008 10:17am Dec 31, 2008 10:17am
Quoting nAVIN2007
i expected it to fall but this is crazy...must have been profit taking and and pending sell orders..

now i got a bearish outside bar...what gonna happen now
Wish I hadnt put in a TP.Theres always crazy stuff expected at the fix but this was trully wild.
  • #108,862
  • Dec 31, 2008 10:19am Dec 31, 2008 10:19am
Quoting trader2160
London fix my man.
mainly thin volumes - end of day position squaring causing huge swings.
  • #108,863
  • Dec 31, 2008 10:22am Dec 31, 2008 10:22am
Quoting gammase1
mainly thin volumes - end of day position squaring causing huge swings.
Plus this was the year end fix.More squaring than usual.
  • #108,864
  • Dec 31, 2008 10:22am Dec 31, 2008 10:22am
Quoting trader2160
Wish I hadnt put in a TP.Theres always crazy stuff expected at the fix but this was trully wild.
Luckily I didn't have a hard TP set when she started falling. I was still willing to add to my short position in the event she went up to 4750 and 4800.
Just digging in the trenches like everyone else!
  • #108,865
  • Dec 31, 2008 10:26am Dec 31, 2008 10:26am
I think Eo did it...hehe....doubt if there is to many large accounts playing today. expect they wound down their positions already.

that is why there is nobody to form support and resistance levels! 4600 should of held as resistance this morning!

Happy New Year Everybody!
  • #108,866
  • Dec 31, 2008 10:26am Dec 31, 2008 10:26am
Quoting eohater
You know what's going to happen bro! We're going to complete the retracement next year! Of course, not in a straight line, but I'm bearish (not that I won't take longs) to 1.37. I want the whole damn retracement at this point!
the thing with u is i have got to the stage where u can enter and exit trades both directions cause u have have the experience which u can only get with time.

I can only enter and once its done..im trying to forget about the trade and almost pretend i never placed it...working of weekly time frame mainly...so im losing pips but hey main things i make them ...lol
  • #108,867
  • Dec 31, 2008 10:27am Dec 31, 2008 10:27am
Quoting eohater
Luckily I didn't have a hard TP set when she started falling. I was still willing to add to my short position in the event she went up to 4750 and 4800.
.Just wasnt expecting the whole 300+ drop in one go.
  • #108,868
  • Dec 31, 2008 10:28am Dec 31, 2008 10:28am
It is going up again...
The Market pays you to be disciplined
  • #108,869
  • Dec 31, 2008 10:29am Dec 31, 2008 10:29am
Quoting Shilva
I think Eo did it...hehe....doubt if there is to many large accounts playing today. expect they wound down their positions already.

that is why there is nobody to form support and resistance levels! 4600 should of held as resistance this morning!

Happy New Year Everybody!
I wish I could move the markets like that. I only had 6 standard lots on it.
Just digging in the trenches like everyone else!
  • #108,870
  • Dec 31, 2008 10:33am Dec 31, 2008 10:33am
Quoting eohater
You know what's going to happen bro! We're going to complete the retracement next year! Of course, not in a straight line, but I'm bearish (not that I won't take longs) to 1.37. I want the whole damn retracement at this point!
I came online around 10 mins after you and turtle went long last night.Great call.I hesitated a bit because of the wide spread but went long anyway.Just curious, what was the spread on cable when you went long yesterday because it was crap on currenex.
  • #108,871
  • Dec 31, 2008 10:34am Dec 31, 2008 10:34am
..Go cable..Go!
pipipipipipipps..
  • #108,872
  • Dec 31, 2008 10:37am Dec 31, 2008 10:37am
Quoting trader2160
I came online around 10 mins after you and turtle went long last night.Great call.I hesitated a bit because of the wide spread but went long anyway.Just curious, what was the spread on cable when you went long yesterday because it was crap on currenex.
My long was on my secondary account with a fixed spread of 4. I think my primary was around 6 or so at the time.
Just digging in the trenches like everyone else!
  • #108,873
  • Dec 31, 2008 10:40am Dec 31, 2008 10:40am
  • #108,874
  • Dec 31, 2008 10:42am Dec 31, 2008 10:42am
Quoting eohater
My long was on my secondary account with a fixed spread of 4. I think my primary was around 6 or so at the time.
Wow 6 is pretty good.I had around 12.5.
  • #108,875
  • Dec 31, 2008 10:46am Dec 31, 2008 10:46am
Quoting trader2160
Wow 6 is pretty good.I had around 12.5.
I hold two accounts just because of this! My variable spread broker is a better broker than my fixed, but when the markets are thin and spread is high, I'll use my secondary broker for the trade. Something you might want to consider for 2009 is having 2 brokers.
Just digging in the trenches like everyone else!
  • #108,876
  • Dec 31, 2008 10:55am Dec 31, 2008 10:55am
Quoting eohater
I hold two accounts just because of this! My variable spread broker is a better broker than my fixed, but when the markets are thin and spread is high, I'll use my secondary broker for the trade. Something you might want to consider for 2009 is having 2 brokers.
Im with you on the 2nd broker but Im not a fan of market makers.
  • #108,877
  • Dec 31, 2008 10:55am Dec 31, 2008 10:55am
Quoting eohater
I hold two accounts just because of this! My variable spread broker is a better broker than my fixed, but when the markets are thin and spread is high, I'll use my secondary broker for the trade. Something you might want to consider for 2009 is having 2 brokers.
Simpley for diversification. I heard the big Swiss broker, Crown Forex, was holding traders accounts!
  • #108,878
  • Dec 31, 2008 10:56am Dec 31, 2008 10:56am
I'm done for the day everyone! I wish everyone a Happy New Year!

Trade well!
EO
Just digging in the trenches like everyone else!
  • #108,879
  • Dec 31, 2008 10:57am Dec 31, 2008 10:57am
Quoting Shilva
Simpley for diversification. I heard the big Swiss broker, Crown Forex, was holding traders accounts!
I would go ape shit if one of my brokers held my account.
Just digging in the trenches like everyone else!
  • #108,880
  • Dec 31, 2008 10:59am Dec 31, 2008 10:59am
Quoting trader2160
Im with you on the 2nd broker but Im not a fan of market makers.
I don't understand what you mean by market makers?
Just digging in the trenches like everyone else!
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