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Cable Update (GBPUSD)

  • #151,541
  • Jul 27, 2009 2:38pm Jul 27, 2009 2:38pm
Quoting Turveyd
$150's nothing.

Even trading M1 by the time a 5sma direction is established ( high odds off profit ), the spreads paid for and not possibly to get a perfect exit I coulda took +5pips multiple times today LOL


Not my scene though, too much stress for 5pips.

I've got Approx until the end of September so even if slow the next Month still just about survivable, hopefully eeeckkk some out.


This would be easier if we where millionaires, well we just wouldn't bother

Chris/Turvey - try some of the other pairs - EY's been great today...
  • #151,542
  • Jul 27, 2009 2:41pm Jul 27, 2009 2:41pm
Quoting malcolmb14
I would love to see how the financial markets really are if mark to market is put back in force .

I know there is a perception that the financial markets are great and yes lending and interbank lending has got easier , which is awesome. However there is still 80,000 forclosures per month on residential properties..in fact last month was the highest on record ... how well covered was that in the news ? (aka 300 billion loss to banks per year... they do not have to report this if they are willing to hold asset till it is of value)

CIT crying...

reality is that for a day trader like me as long as there is a market to trade I am happy.

even for swing traders ... try and ignore the news as best you can and follow the technicals.... the technicals / price action will lead the way
Blogging daily now at www.volume.zone
  • #151,543
  • Jul 27, 2009 2:44pm Jul 27, 2009 2:44pm
Quoting stewrigh
Chris/Turvey - try some of the other pairs - EY's been great today...

EY ?? not heard of that one and can't see a Euro / Yen or anything, whats the chart name please ??


EJ had better movement, BUT if 90% of the moves barely cover your spread then you just get knickeled and dimed to death.


Atleast I'm wise enough to walk away, not that a lot of damage woulda been done hey!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #151,544
  • Jul 27, 2009 2:47pm Jul 27, 2009 2:47pm
Quoting Turveyd
EY ?? not heard of that one and can't see a Euro / Yen or anything, whats the chart name please ??


EJ had better movement, BUT if 90% of the moves barely cover your spread then you just get knickeled and dimed to death.


Atleast I'm wise enough to walk away, not that a lot of damage woulda been done hey!!

today has been a tough day in the US session due to the low spread day on the US indexes .

Asia may give us some better ranges / movement. It has been on of my fav sessions .
Blogging daily now at www.volume.zone
  • #151,545
  • Jul 27, 2009 2:49pm Jul 27, 2009 2:49pm
Quoting Turveyd
EY ?? not heard of that one and can't see a Euro / Yen or anything, whats the chart name please ??


EJ had better movement, BUT if 90% of the moves barely cover your spread then you just get knickeled and dimed to death.


Atleast I'm wise enough to walk away, not that a lot of damage woulda been done hey!!
EY-EuroYen - dropped 100 pips this pm. - totally predictable
  • #151,546
  • Jul 27, 2009 2:51pm Jul 27, 2009 2:51pm
Almost ripe for the picking....
Attached Image
Hear the music before the song is over ...
  • #151,547
  • Jul 27, 2009 2:51pm Jul 27, 2009 2:51pm
Quoting stewrigh
Chris/Turvey - try some of the other pairs - EY's been great today...
You mean EJ ? Don't know what EY is???

That's one problem I have. I've gotten used to only two pairs as until now, I found enough trades in them. I figured (perhaps wrongly) it would be better to learn a couple very well so I've never traded the yen pairs at all.

WB calls the GY the "Beast" and in my situation, I'm not ashamed to admit that scares me a bit...LOL I also got bit by her once for a pretty big loss. Simply "assuming" it was like the EU & GU, I traded what I "thought" was 2/pip. Well, .2 standard is like 22 bucks a pip...WHOOPS...LOL

Obviously i figured to trade more pairs as I got better over time.
Ghost Rider - WWTBMD?
  • #151,548
  • Jul 27, 2009 2:53pm Jul 27, 2009 2:53pm
Quoting stewrigh
EY-EuroYen - dropped 100 pips this pm. - totally predictable
Twhos ur broker my spread on ey is only 4 pips - 1 more than GU
  • #151,549
  • Jul 27, 2009 2:58pm Jul 27, 2009 2:58pm
Quoting albchr
You mean EJ ? Don't know what EY is???

That's one problem I have. I've gotten used to only two pairs as until now, I found enough trades in them. I figured (perhaps wrongly) it would be better to learn a couple very well so I've never traded the yen pairs at all.

WB calls the GY the "Beast" and in my situation, I'm not ashamed to admit that scares me a bit...LOL I also got bit by her once for a pretty big loss. Simply "assuming" it was like the EU & GU, I traded what I "thought" was 2/pip. Well, .2 standard is like 22 bucks a pip...WHOOPS...LOL...

Really try the EY/EJ its a lot less volatile and the spread is reasonable.

BTW I always call it EY same as GY - not sure how it should be referred to.
  • #151,550
  • Jul 27, 2009 3:00pm Jul 27, 2009 3:00pm
Quoting stewrigh
Really try the EY/EJ its a lot less volatile and the spread is reasonable.

BTW I always call it EY same as GY - not sure how it should be referred to.
First letter of each currency. GPB/USD = GU etc..

Yes I was just looking at the EJ. It did move nicely today. Some good oppertunities. Thanks buddy.
Ghost Rider - WWTBMD?
  • #151,551
  • Jul 27, 2009 3:01pm Jul 27, 2009 3:01pm
Quoting albchr
First letter of each currency. GPB/USD = GU etc..

So why GY
  • #151,552
  • Jul 27, 2009 3:02pm Jul 27, 2009 3:02pm
Quoting GlobalMacro
Almost ripe for the picking....
I just came across an interesting assertion by the author while reading:

"EASY THINGS ARE HARD"

just stop and think about it for a minute...
Hear the music before the song is over ...
  • #151,553
  • Jul 27, 2009 3:03pm Jul 27, 2009 3:03pm
Well G/U went nowhere rofl, I'm glad I went away for a while. Anyway, I'm expecting 1.6475-1.6480 and I'll probably buy there
  • #151,554
  • Jul 27, 2009 3:03pm Jul 27, 2009 3:03pm
Quoting stewrigh
So why GY

Great British Pound / Yen
  • #151,555
  • Jul 27, 2009 3:05pm Jul 27, 2009 3:05pm
symmetrical triangle in uptrend on 1hr.
  • #151,556
  • Jul 27, 2009 3:06pm Jul 27, 2009 3:06pm
Quoting MoForce
Well G/U went nowhere rofl, I'm glad I went away for a while. Anyway, I'm expecting 1.6475-1.6480 and I'll probably buy there
tp 6481 yeah -
  • #151,557
  • Jul 27, 2009 3:07pm Jul 27, 2009 3:07pm
Quoting RapidSagi
Great British Pound / Yen

Doh - really?
  • #151,558
  • Jul 27, 2009 3:10pm Jul 27, 2009 3:10pm
Quoting stewrigh
EY-EuroYen - dropped 100 pips this pm. - totally predictable
not that easy ...

ej like gj was messy this morning ....
Blogging daily now at www.volume.zone
  • #151,559
  • Jul 27, 2009 3:10pm Jul 27, 2009 3:10pm
Quoting GlobalMacro
Almost ripe for the picking....

Signed, cant be long now...
Trading Makes Money!
  • #151,560
  • Jul 27, 2009 3:10pm Jul 27, 2009 3:10pm
Quoting stewrigh
So why GY

Huh? What's GY...LOL

GBP/JPY = GJ At least as far as I know.
Ghost Rider - WWTBMD?
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