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Cable Update (GBPUSD)

  • #139,701
  • Jun 24, 2009 4:48am Jun 24, 2009 4:48am
Quoting wormboy
GeppyG : 500 pips mate 500!!
Down periscope. Okay be back later. Good luck!
500, 500

Show me 500!
Great Bodies are Engineered not Born
  • #139,702
  • Jun 24, 2009 4:51am Jun 24, 2009 4:51am
anyone got an area in mind for this run down?
Keep It Simple Stupid
  • #139,703
  • Jun 24, 2009 4:57am Jun 24, 2009 4:57am
Whats the reason for such fast down move ?
  • #139,704
  • Jun 24, 2009 5:00am Jun 24, 2009 5:00am
Quoting Alastair
anyone got an area in mind for this run down?
I have two stops in my mind: 1.6370 and 1.6230
  • #139,705
  • Jun 24, 2009 5:08am Jun 24, 2009 5:08am
Something not smells right this thing is moving around like headless chicken damnit
  • #139,706
  • Jun 24, 2009 5:19am Jun 24, 2009 5:19am
Quoting Faryad
Whats the reason for such fast down move ?
Apparently BIS bought over 3Billion Euros on behalf of the SNB and the CHF shot up.

With the Treasury Committee Hearings coming up, NY session may be a rough ride.
  • #139,707
  • Jun 24, 2009 5:27am Jun 24, 2009 5:27am
Quoting MoeFx
it might hold this time, im short at 1.6587, s/l 1.6687, t/p 1.6283 i don't know what im doing
my trade is looking good
  • #139,708
  • Jun 24, 2009 5:37am Jun 24, 2009 5:37am
Quoting malcolmb14
remove the sell order .... you maybe giving away 50 pips.

If this pops it may upthrust into 1.6000 . Better to miss the trade than give away 50 pips
I pray you listened to this post ..... and removed that sell order

still buyers in the market , there are some hanging at 1.65100 now . I am still buying dips , we may see 1.6700 to 1.700 depending on what cooks with fomc meting today
Blogging daily now at www.volume.zone
  • #139,709
  • Jun 24, 2009 5:37am Jun 24, 2009 5:37am
Bears ought ta be careful...... Know where the breakout is.....

Long all the way.... Eur and gbp

good luck all
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #139,710
  • Jun 24, 2009 5:38am Jun 24, 2009 5:38am
Quoting malcolmb14
I pray you listened to this post ..... and removed that sell order

still buyers in the market , there are some hanging at 1.65100 now . I am still buying dips , we may see 1.6700 to 1.700 depending on what cooks with fomc meting today
YUP, YOU HAVE THE RIGHT IDEA MY FRIEND
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #139,711
  • Jun 24, 2009 5:39am Jun 24, 2009 5:39am
Quoting smartalicus
Hello,

I have recently had issues with FXCM and their so called "non dealing desk" model. I was wondering who everyone here uses and what reccommendations they might have to offer. I'm looking for a broker with competitive spreads, quick/accurate order fills for limits and stops, and general non-manipulative and honest practices.

Please advise...

I trade over 100 standard per month .... with fxcm high volume account (nice spreads) nver had an issue. What was your issue ?
Blogging daily now at www.volume.zone
  • #139,712
  • Jun 24, 2009 5:45am Jun 24, 2009 5:45am
WELL HURT ENOUGH .. KNOW ENOUGH FOR THE DAY BAD DAY FOR ME
  • #139,713
  • Jun 24, 2009 5:46am Jun 24, 2009 5:46am
Quoting smartalicus
Well, twice, I've had orders where there has not been significant volatility in the market, and price has reached my limit/take profit level... yet although I heard the beeb/beep sounds on the platform as if the orders were being executed, and I also simultaneously tried to right click them to close them, I received error messages saying I could not close trades that were in process of being closed....


trading in low liquidity times is not fxcm's fault it is yours. All forex books tell you when best time to trade is..

In low liquidity time i execute everything manually and scale ourof position , even 4 standard can be hard to fill without slippage .

It almost sounds liek you are scalping for 10 pip a time , as even manually I can get out of trades with limited slipppage , I scalp for 20 - 100 pips a shot. If this is the case then stick to trading high volume levels.

It seem trading in none liquid times is not fxcms issue... it is yours . Trading outside London and US sessions has its risks and not getting fill is one of them. On my fxcm platform I manage this by changing the range to 10 pip deviation of my limit order. Likely yours is set to 0 and if there is bo volume at your exact price level you will not get filled

In regards to spreads. They did widen on Sunday for one 5 minute bar. That was on all platforms across the board , not just fxcm. i was in the market when this happened. Again is you have a hedge on and set stop after only 10 or 15 pip of movement you risk getting stopped out as your stops are to tight. Again this is not fxcm's issues. It is part of trading the forex market. I manually track a trade untik I get 30 pip then move stop break even
Blogging daily now at www.volume.zone
  • #139,714
  • Jun 24, 2009 5:49am Jun 24, 2009 5:49am
Quoting malcolmb14
I trade over 100 standard per month .... with fxcm high volume account (nice spreads) nver had an issue. What was your issue ?
i traded on there active account for one month, you ever try making a 5-10 mill trade, it was horrible, so i left. if your trading up to 1mill then you are fine, try making a single trade of 5mill
  • #139,715
  • Jun 24, 2009 5:51am Jun 24, 2009 5:51am
any comment for GU today?

i bet UP
  • #139,716
  • Jun 24, 2009 5:53am Jun 24, 2009 5:53am
Quoting Xaron
Interesting...

Implied GBPUSD volatilities have recently been trading at higher levels. We have also seen increasingly interests for buying GBPUSD calls lately and a bigger Interbank now just bought 1 month GBPUSD call strike 1.7365 in decent size, which suggests spot to move higher.
surprise .... ???? not not really . I have been posting for 2 weeks baout the accumulation at 6250. The volume clearly shows a wall of buyers at this level. That is pros at work. They are not accumulating for a 200 pip move up . i expect 1.7100 on a daily close above 1.6600


Es came doen and tested that 875 level and found buyers. I think indexes head up today , seems that way from yesterdays close on the emini futures
Blogging daily now at www.volume.zone
  • #139,717
  • Jun 24, 2009 5:56am Jun 24, 2009 5:56am
to close for comfort
  • #139,718
  • Jun 24, 2009 5:58am Jun 24, 2009 5:58am
the bulls are out to play
  • #139,719
  • Jun 24, 2009 6:00am Jun 24, 2009 6:00am
Quoting malcolmb14
I trade over 100 standard per month .... with fxcm high volume account (nice spreads) nver had an issue. What was your issue ?
I've had a AUD mini account with FCXM for 3 years now. Only had one problem with the software/FXCM feed freezing, which locked me out and I took a 104 pip hit. FXCM looked into it the next day, confirmed it was their fault and refunded the 104 pips. Small spreads, widen during volatile times, as expected - all good.
  • #139,720
  • Jun 24, 2009 6:03am Jun 24, 2009 6:03am
Quoting davids
RSI on its own it pretty useless

RSI offer better results when used together with other indicators like moving average and stochastic crosses. The signals are more reliable when RSI is corresponding to the signals. Fore example a buy signal generated from a crossover is more reliable when RSI is at oversold area and a sell signal is more reliable when RSI is at overbought area.

Advantages of using RSI in forex trading include simplicity and support from both simple and complex trading strategies. Disadvantages include false trading signals...
rsi on its own is not useless. That statement is false. I had only rsi on my charts at one point and managed ok. One has to know how to read it.

In reality I have found most indicators to be useless .. the only thing for me is volume and price action . It is key and tells you a story.

If you must use indicators there is only I like ..Jurik rsx ....it is a smoothed rsi , faster acting.

I mostly use rsx for divergenes. Here is a great one that showed top in GU for a short scalp. and that volume bar I highlighted was a very simple 70 pip long.

Note my calls (fairly accurate) and note I do not have a billion indicators on my charts , like macd , stochastics , rsi , etc etc and weait for them all to line up. I rarely even need to look at my rsx to know what is going to happen next

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