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Cable Update (GBPUSD)

  • #125,621
  • Mar 9, 2009 10:56am Mar 9, 2009 10:56am
Quoting Forbes55
Ok enough about hedging
better say who dares to enter long now again or maybe already did?
Nope all time frames bearish from 5m - monthly! Only support in sight is 3730 and thats weak! No longs for me yet
  • #125,622
  • Mar 9, 2009 10:56am Mar 9, 2009 10:56am
Quoting Forbes55
I just want to do it again but waiting
for what? someone to tell you when to go long or an entry point from your charts?
  • #125,623
  • Mar 9, 2009 11:21am Mar 9, 2009 11:21am
Quoting PipLand
Nope all time frames bearish from 5m - monthly! Only support in sight is 3730 and thats weak! No longs for me yet
sure now longs now as we just missed another easy 55 pips up
ROBOT FOREX
  • #125,624
  • Mar 9, 2009 11:24am Mar 9, 2009 11:24am
another short from 1.3817 target 1.3710
  • #125,625
  • Mar 9, 2009 11:29am Mar 9, 2009 11:29am
Quoting Forbes55
sure now longs now as we just missed another easy 55 pips up
No one was stopping you from jumping in.

Pipland just felt the risk, on the basis of his analysis, was too great when compared with the potential reward on offer. It was analysis that was both sound and prudent, given we've taken out a significant level of support and sentiment towards sterling has turned bearish once again, in addition to equities struggling to gain any traction. There are thousands of pips on offer every day, so you shouldn't stress about the one that got away.
  • #125,626
  • Mar 9, 2009 11:30am Mar 9, 2009 11:30am
CHA CHING...NICE long side for GU
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125,627
  • Mar 9, 2009 11:32am Mar 9, 2009 11:32am
Quoting PipLand
If by hedging you mean buying and selling the same currency then this is completly useless, unless;

1) your holding long term positions and scalping the opposite movements.

2) Your hedging using different currency pairs
Good point, people use the word 'hedging' and they mean different things... so it's best to be specific

When the spread is only 1 or 2 pips, there is no point in trying to 'freeze' the position - might as well get out

ok 2 examples of real hedging:

1 When I was moving to the US, I wasnt ready to change my GBP to USD but the rate was very good - so I shorted GBP on my spreadbet account in London - this effectively froze the rate at zero cost. Any profit on the short is balanced by the higher purchase cost of USD

2 I owned shares in the uk but it's costly to move in and out of the market because of commission and stamp duty and value added tax. So when I thought one of my shares might fall back in price, I shorted it - again using spreadbet, thereby hedging it at the high price and producing a useful capital loss if it did fall back
Both of these tactics produce no gain and no loss but they do freeze a position at a point which is judged to be good, in a situation where direction is not certain

ps talking of hedges, always remember that a bird in the bush is worth 2 in the disco
  • #125,628
  • Mar 9, 2009 11:47am Mar 9, 2009 11:47am
Up...Down...Up....Down....All I know for sure is my head hurts....LOL

Probably a mistake but I'm short @ 3800. Made 27 pips short from there earlier but...
Ghost Rider - WWTBMD?
  • #125,629
  • Mar 9, 2009 11:49am Mar 9, 2009 11:49am
be patient, self-belief and discipline... stay focus...
  • #125,630
  • Mar 9, 2009 11:52am Mar 9, 2009 11:52am
go for m30 chart that will help u
be patient, self-belief and discipline... stay focus...
  • #125,631
  • Mar 9, 2009 11:53am Mar 9, 2009 11:53am
Killer day today!

Hit target and a couple more...

Would love to close a +400 day!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125,632
  • Mar 9, 2009 11:58am Mar 9, 2009 11:58am
Quoting gammase1
No one was stopping you from jumping in.

Pipland just felt the risk, on the basis of his analysis, was too great when compared with the potential reward on offer. It was analysis that was both sound and prudent, given we've taken out a significant level of support and sentiment towards sterling has turned bearish once again, in addition to equities struggling to gain any traction. There are thousands of pips on offer every day, so you shouldn't stress about the one that got away.
Just had to pop out so couldnt reply but thnx Gammase that is pretty much what I would have said!

Its all about the risk to reward ratio, of course cable isnt going to fall in a straight line but theres much less riskier trades I'd rather take at the moment. I missed over 300 pips today by not getting in on a short on cable but it doesnt bother me in the slightest theres plenty more to come! If cable does bounce or retrace slightly I will look for an opportunity to get short once again, if it doesnt happen then its no big deal, my money is safe
  • #125,633
  • Mar 9, 2009 12:00pm Mar 9, 2009 12:00pm
Quoting albchr
Up...Down...Up....Down....All I know for sure is my head hurts....LOL

Probably a mistake but I'm short @ 3800. Made 27 pips short from there earlier but...
You're looking at it too much You just need to step back, pause, and then re-evaluate.
Probability Professor
  • #125,634
  • Mar 9, 2009 12:01pm Mar 9, 2009 12:01pm
Quoting radit27
go for m30 chart that will help u
Yep, been watching the 30m and 15m in all this slow ticking. My feeling is it will go south again. Just not sure how far to let run it run North to do so.

Seems the dollar is up and down on most all the majors right now so...?? LOL
Ghost Rider - WWTBMD?
  • #125,635
  • Mar 9, 2009 12:02pm Mar 9, 2009 12:02pm
Quoting Galation
You're looking at it too much You just need to step back, pause, and then re-evaluate.
No argument there...lol
Ghost Rider - WWTBMD?
  • #125,636
  • Mar 9, 2009 12:11pm Mar 9, 2009 12:11pm
Now you guys know better not to trade at this time. It's crazy. Use this time to chart and look for things to guide you or even get some sleep. We got a monthly support line at 1.3681 so I am long from here with a 300 pip stoploss. It's time to go long and there is noone out there that can convince me otherwise. See this signal arrow I have on my chart. I have only 1 out of 10 of these signals is a loser and that is not bad odds. It better be, cause I paid a Sh-tload for this system......LOL

J


Quoting albchr
Up...Down...Up....Down....All I know for sure is my head hurts....LOL

Probably a mistake but I'm short @ 3800. Made 27 pips short from there earlier but...
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 35 KB
  • #125,637
  • Mar 9, 2009 12:14pm Mar 9, 2009 12:14pm
Quoting donutman_111
Now you guys know better not to trade at this time. It's crazy. Use this time to chart and look for things to guide you or even get some sleep. We got a monthly support line at 1.3681 so I am long from here with a 300 pip stoploss. It's time to go long and there is noone out there that can convince me otherwise. See this signal arrow I have on my chart. I have only 1 out of 10 of these signals is a loser and that is not bad odds. It better be, cause I paid a Sh-tload for this system......LOL

J
That "almost" looks like a Proact chart?
Ghost Rider - WWTBMD?
  • #125,638
  • Mar 9, 2009 12:17pm Mar 9, 2009 12:17pm
Quoting wormboy
Where's Komissar. You need to hold my hand 3600
Good luck.
I am here, man.
I wouldn 't mind short, if I wasn't long already.
Grabbed quick 20 pips in the morning, and now I am waiting till this insanity will calm down.
  • #125,639
  • Mar 9, 2009 12:21pm Mar 9, 2009 12:21pm
No man, its a Triad chart and they are state of the art. More importantly, they are rarely wrong and as long as you use a micro account or have a very large mini account, ( over $10,000 ) and can stand the stoplosses like the one, ( 300 pips ) I got on this Cable trade, you are in business.

J


Quoting albchr
That "almost" looks like a Proact chart?
  • #125,640
  • Mar 9, 2009 12:24pm Mar 9, 2009 12:24pm
By the way, your computer has to have a huge memory to run this system. I did not realise this when I bought it and my old computer gagged on the data this thing put out.


Quoting donutman_111
No man, its a Triad chart and they are state of the art. More importantly, they are rarely wrong and as long as you use a micro account or have a very large mini account, ( over $10,000 ) and can stand the stoplosses like the one, ( 300 pips ) I got on this Cable trade, you are in business.

J
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