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Cable Update (GBPUSD)

  • #131,701
  • May 10, 2009 5:56pm May 10, 2009 5:56pm
Quoting jack.canadia
Stronger dollar across the board. This is only as it pertains to the global economy. If banks start to show weakness again, people will flock to a safe haven for their money, and that's cash, USD cash, which will increase the price of the USD much as it has since this all began.

I am not talking about a bad news release, I am talking about negative comments from Geitner or Bernanke, or some other shit to occur (i.e. Swine flu).
Gotcha - thanks, at the moment i am only thinking in terms of GU - i guess i need to see the bigger picture as well
  • #131,702
  • May 10, 2009 6:06pm May 10, 2009 6:06pm
Quoting BANDA
Even though they talk down of H1N1 aka swine flue it is kinda incipient and hog market already affected not to mention human health risk it impose .
This news also will strengthen the USD

http://news.bbc.co.uk/2/hi/business/7549428.stm

Exponential dollar weakness happened during NY session when other trading communities were gone for the week, so lets hope those rational traders come back and short the puppy........
Hi Banda, isnt that really old news?
  • #131,703
  • May 10, 2009 6:19pm May 10, 2009 6:19pm
Yes old news. Maybe they did the short squeeze for them to short this weekend? You never know ...............they pull another trick out of the hat come Monday...

Quoting EricB
Hi Banda, isnt that really old news?
BANDA333
  • #131,704
  • May 10, 2009 6:27pm May 10, 2009 6:27pm
Quoting BANDA
Yes old news. Maybe they did the short squeeze for them to short this weekend? You never know ...............they pull another trick out of the hat come Monday...
The trick is to get you spending - as you know USD weakness is one of the leading indicators of growth - but also the easiest to manipulate by those who want to - and you know who wants to manipulate the markets right now - everyone who is in charge - govt and banks - is it going to make you and I spend more - I'm not sure - the new consumer is a little more savvy and its better to be honest then create artificial sense of optimism in my personal opinion.
  • #131,705
  • May 10, 2009 6:44pm May 10, 2009 6:44pm
Quoting sinisabrkic
Hi

I think it will continue to rising.


As i told
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  • #131,706
  • May 10, 2009 6:52pm May 10, 2009 6:52pm
I think its going down
  • #131,707
  • May 10, 2009 7:02pm May 10, 2009 7:02pm
Quoting EricB
The trick is to get you spending - as you know USD weakness is one of the leading indicators of growth - but also the easiest to manipulate by those who want to - and you know who wants to manipulate the markets right now - everyone who is in charge - govt and banks - is it going to make you and I spend more - I'm not sure - the new consumer is a little more savvy and its better to be honest then create artificial sense of optimism in my personal opinion.
Guys/Banda,

another news item that was "buried" last week
http://www.bloomberg.com/apps/news?p...pxU&refer=home
  • #131,708
  • May 10, 2009 7:06pm May 10, 2009 7:06pm
Quoting EricB
Guys/Banda,

another news item that was "buried" last week
http://www.bloomberg.com/apps/news?p...pxU&refer=home
I have some inside news from one of the leading news channels (a close family member is a senior executive) that there has been pressure on keeping the news positive last week - lots of debates taking place on what role media should play right now this week and next as being biased with news would be unfair reporting - lets see who wins - I would say Republicans should/could seize this oportunity if they had enough facts.
  • #131,709
  • May 10, 2009 7:13pm May 10, 2009 7:13pm
i wonder how forex brokers make money , if we loose they make money or just the spreads .
  • #131,710
  • May 10, 2009 7:24pm May 10, 2009 7:24pm
Quoting dingo_bingo
i wonder how forex brokers make money , if we loose they make money or just the spreads .
They trade with our money and also make money on spreads. Hence every broker posts anaysis and trade reccommendation on many pairs to get you trading, so they can get spreads.
  • #131,711
  • May 10, 2009 7:25pm May 10, 2009 7:25pm
Quoting dingo_bingo
i wonder how forex brokers make money , if we loose they make money or just the spreads .
If you hit your S/L then they make all the money - all the money including what you lose goes into their pockets because your transaction never hit the market.
  • #131,712
  • May 10, 2009 7:26pm May 10, 2009 7:26pm
Looks like she just filled a small gap on my MT4 (00:00 GMT closing time), could see some down.

I'll try to keep up on the GBP analysis this week but I am currently in a USD/CAD trade. So I may/may not take trades on other pairs. But this one was too hard for me to ignore.
  • #131,713
  • May 10, 2009 7:33pm May 10, 2009 7:33pm
Quoting EricB
If you hit your S/L then they make all the money - all the money including what you lose goes into their pockets because your transaction never hit the market.
Then they would also make money when you hit your take profit then...

They only way they make directly off you is if they take the other side of your trade and you end up losing either because of a stoploss or manual closure of the trade.

If I am long 100k and I get stopped out, my stop sells back my positions to another buyer at that price, and I take a loss while the new buyer is in a fresh position.

Or so I believe.
  • #131,714
  • May 10, 2009 7:34pm May 10, 2009 7:34pm
Quoting dingo_bingo
i wonder how forex brokers make money , if we loose they make money or just the spreads .
They make $$ regardless of what you do.
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  • #131,715
  • Edited 8:28pm May 10, 2009 8:15pm | Edited 8:28pm
Quoting jack.canadia
Then they would also make money when you hit your take profit then...

They only way they make directly off you is if they take the other side of your trade and you end up losing either because of a stoploss or manual closure of the trade.

If I am long 100k and I get stopped out, my stop sells back my positions to another buyer at that price, and I take a loss while the new buyer is in a fresh position.

Or so I believe.
Jack have a look at this article - youll see what Im talking about

http://www.etalkforex.com/forex-arti...s-should-read/
  • #131,716
  • May 10, 2009 8:28pm May 10, 2009 8:28pm
Quoting EricB
Jack have a look at this article - youll see what Im talking about
Post your article! I need something to read
  • #131,717
  • May 10, 2009 8:34pm May 10, 2009 8:34pm
Quoting jack.canadia
Post your article! I need something to read
Sorry you probably know this stuff anyways - i dont knwo why but it got deleted here it is again http://www.etalkforex.com/forex-arti...s-should-read/
  • #131,718
  • May 10, 2009 8:52pm May 10, 2009 8:52pm
Quoting EricB
Sorry you probably know this stuff anyways - i dont knwo why but it got deleted here it is again http://www.etalkforex.com/forex-arti...s-should-read/
I had read similar stuff before. I don't feel my broker (FXCM) is a scam. Whether or not that take the other side of my trades I do not care.

I have however seen price near my stop, stall, and flash quickly to take it out before retreating. I knew from the start that it was them messing around, but I guess all brokers can do this and as long as the price tick shows on their charts and they have record of it, we can't do anything about it.

I suggest, as I will eventually, trading with a legit bank (like Deutcshe Bank @ dbfx.com).
  • #131,719
  • May 10, 2009 8:56pm May 10, 2009 8:56pm
Quoting jack.canadia
I had read similar stuff before. I don't feel my broker (FXCM) is a scam. Whether or not that take the other side of my trades I do not care.

I have however seen price near my stop, stall, and flash quickly to take it out before retreating. I knew from the start that it was them messing around, but I guess all brokers can do this and as long as the price tick shows on their charts and they have record of it, we can't do anything about it.

I suggest, as I will eventually, trading with a legit bank (like Deutcshe Bank @ dbfx.com).
I also recommend read reviews at http://www.forexrealm.com/brokers-reviews/ - i have made set of friends and we make spot checks on prices if we get stopped out or limit isnt hit - I can only say this has resulted in good results - maybe more people should do checks to be sure.
  • #131,720
  • May 10, 2009 8:57pm May 10, 2009 8:57pm
If she break 5246 my money is on her going North. I will wait until London session starts.

Cheers
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