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Cable Update (GBPUSD)

  • #153,981
  • Aug 1, 2009 7:08am Aug 1, 2009 7:08am
Quoting Forbes55
they don't work on weekeends
do you think when trading platform is closed nobody trade?


look euro thread topic
and real Forex weekend rates
http://xe.com/


Streaming real-time market quotes.
Also over weekend
http://www.usagold.com/live.html
  • #153,982
  • Aug 1, 2009 7:11am Aug 1, 2009 7:11am
Quoting Forbes55
they don't work on weekeends
do you think when trading platform is closed nobody trade?


look euro thread topic
and real Forex weekend rates
http://xe.com/
and besides 100 pips gap wouldn't be surprise at all after such speculative up movement before weekend



XE provides a conversion rate, which has nothing to do with current price on the spot market, so i don't think we can use this info in any way...
  • #153,983
  • Aug 1, 2009 7:12am Aug 1, 2009 7:12am
Quoting rashidcm2004
6475 and 6580 are the areas to watch. Wherever it holds support, buy.

But what if this pair do not retrace from the current price level?

Chance for a false breakout is very less, but think all ways!
i guess 6580 would be a better entry
with a 25 pip stop
  • #153,984
  • Aug 1, 2009 7:12am Aug 1, 2009 7:12am
what about this?

http://finance.yahoo.com/currency-co...R;to=USD;amt=1


Quoting Forbes55
they don't work on weekeends
do you think when trading platform is closed nobody trade?


look euro thread topic
and real Forex weekend rates
http://xe.com/
and besides 100 pips gap wouldn't be surprise at all after such speculative up movement before weekend


  • #153,985
  • Aug 1, 2009 7:14am Aug 1, 2009 7:14am
Quoting svlad1983
XE provides a conversion rate, which has nothing to do with current price on the spot market, so i don't think we can use this info in any way...
when tell my why xe.com shows GBPUSD still 6715 like all others but EURUSD 41380???
it's a hint

Quoting rashidcm2004
what about this?

http://finance.yahoo.com/currency-co...R;to=USD;amt=1
I don't need conversion above

and XE.com Quick Cross Rates are real - do you see the difference now?
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  • #153,986
  • Aug 1, 2009 7:17am Aug 1, 2009 7:17am
XE provides mid-market rates using their own methods. No real rates!! Read their FAQ below -


[[[[[[[[Are your "mid-market" currency rates buy rates or sell rates?


The mid-market rates shown in our information services are neither "buy" rates nor "sell" rates. Mid-market rates are derived from mid-point between the buy and sell rates of large-value transactions in the global currency markets.

Since "buy rates" and "sell rates" include overheads and profit margins that are set independently by each foreign exchange provider, they will vary depending on who you're talking to, and will always be different than the mid-market rate.]]]]]]]]]]]]

http://www.xe.com/faq.php#midmarket Read it there on the same site.

Quoting Forbes55
when tell my why xe.com shows GBPUSD still 6715 like all others but EURUSD 41380???
it's a hint


I don't need conversion above

and XE.com Quick Cross Rates - see the difference
  • #153,987
  • Aug 1, 2009 7:21am Aug 1, 2009 7:21am
Anyway decision for Monday - close all sells on level 6600
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  • #153,988
  • Aug 1, 2009 7:23am Aug 1, 2009 7:23am
Glad that you realized the XE rates!


Quoting Forbes55
Anyway decision for Monday - close all sells on level 6600
  • #153,989
  • Aug 1, 2009 8:55am Aug 1, 2009 8:55am
As u all know I've been bullish this pair for some time.

Well I'm flat Atm and I'm not sure about direction(when in doubt stay out) but I will be watching PA on Sun/Mon for a clue.

Price is currently on the weekly R2 and previous high so there is a distinct possibility we may see some selling pressure next week.

I'm certainly not thinking of going long .... but you never know.

Attached Image (click to enlarge)
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  • #153,990
  • Aug 1, 2009 9:46am Aug 1, 2009 9:46am
I believe there are few data for cable on monday i believe to be very caution in taking entry.

Best of luck and have a nice weekend
irfan
  • #153,991
  • Aug 1, 2009 10:46am Aug 1, 2009 10:46am
These quotes are 100% live all the time. When price moves a pip it is show in the table.

http://www.forex-markets.com/quotes.htm
  • #153,992
  • Aug 1, 2009 10:48am Aug 1, 2009 10:48am
Quoting rastapips
Guess i was one the above who is praying all night long. i learn a wonderful lesson this week. Trend is your friend and don't only look at what you wanna see but see what is happening. Blew 30% of my account and now i have to slowly built it back This is my second month as a live trader guess i have survived so far by not going bust.

Thanks Direct Trade will read it up during the weekend. God Bless you.

I shorted at 1.6496 SL 6635 and built up few shorts along the way. that's where the 30% came from. but a well learn lesson). Guess that;s...

thanks for sharing this ... you only ever see the ones that make money not lose it. I hope you make your 30 % back plus some ..... remember good money management is key in this game. 30 pip a day , 2.5% risk per trade ....2 k can grow to 2.5 mill in 30 months that is the theory. I have learnt not to be to greedy. One of the sayings out there is a trader never went broke taking a profit. The amount of time I have had 25 pip profit in a trade and then market turned on me and hit stop is countless...

I lost 5% on account week before last. I was to bias one direction and refused to see what was on the chart in front of me. I hardly looked or thought about news this week and just let the charts show me the way
Blogging daily now at www.volume.zone
  • #153,993
  • Aug 1, 2009 10:55am Aug 1, 2009 10:55am
Quoting wormboy
You don't need a prayer to trade. You need a plan.
Losing trades happens from time to time. It's normal.
But blowing 30% of your account is not good. It shows you're undercapitalised & you are abusing the leverage, which will kill you.
I took some heavy hit this month myself but at the end of the month my total loss is about -1%. You can see the last few trades I've logged here:
http://www.forexfactory.com/t/156630/wormhole-1.html
Most of them ended with losses. It happens.
[b]Don't listen to nonsense of making big money trading from...

awesome post !!!!

aim for 5% per week account growth ... if only 1 k account and you make $50 per week be happy(that is x2x 25 pip trades with 1 mini .. all you got to do is wait and be patient for perfect trade set up). There are millions in this world that would kill to have $50 per week in their pockets.

those that post 300 % gains in 3 months blah blah blah are the ones that will risk the most and blow accounts t56ime over time .. greed runs their trading minds.
Blogging daily now at www.volume.zone
  • #153,994
  • Aug 1, 2009 11:07am Aug 1, 2009 11:07am
ok thought i would psot this

that move Friday looked odd .. based on some bs comment by IMF.

the 2 hour volume was ultra high and the candle had wide spread

In my world of vsa this is weakness . The pros may well use this strength to sell into .

at least we should see a test of the break out level 1.6570

the volume when testing this level will tell me pros next move.

Attached Image (click to enlarge)
Click to Enlarge Name: chart136.png Size: 190 KB
Blogging daily now at www.volume.zone
  • #153,995
  • Edited 12:10pm Aug 1, 2009 11:41am | Edited 12:10pm
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
MAL,

this baby isn't stopping until ftse stop growing. we are bullish severly...this isn't even a spike candle it's rock solid.

Don't forget it was friday evening when markets are not that active. I think everybody boarded the train when they saw the spike. We have asia who will sell on this high price so some consolidation. Then??? Everything against the dollar went up oil, gold, curr etc.

I beileve it's all conspiracy done by GSachs. They know weeks in advance what will happen. After all they are "the insiders".
Atleast half of fed is made of ex GS candidates and they have the most fantastic systems on earth which can expedite orders and analyze trends to cover their insider trading.

They knew what will happen in advance and they made it look like it's going down. But see what happened. I am telling you. It's not stopping until 169,170. As long as ftse, dow, nikkie is up. If it's going down it's coming back when you least expect or expect opposite.

If I am not wrong, GS was the only bank that made market bullish buy buying and buying stocks their trade volumes were the highest. other banks could not even compete combined with them. They did 40% trades on wall street!! When caught attention they made it look like advance system programming. Blamed some poor old russian guy. They are not the only bank in US with money. It's time now to say, rich will become rich and poor will go poor.

They have shares in IMF, they own s&p moody's which does ratings for companies and even countries and god know what else. Try to remember moody's looking to downgrade UK's rating few weeks ago, and spike of 200-300 pips on cable??








Quoting malcolmb14
ok thought i would psot this

that move Friday looked odd .. based on some bs comment by IMF.

the 2 hour volume was ultra high and the candle had wide spread

In my world of vsa this is weakness . The pros may well use this strength to sell into .

at least we should see a test of the break out level 1.6570

the volume when testing this level will tell me pros next move.

Attachment
  • #153,996
  • Aug 1, 2009 12:41pm Aug 1, 2009 12:41pm
Quoting Turveyd
100 is a nice round number for starters, yes I'd likely make my wage in time on 50 but aim high and if I under shoot alittle then all is fine.


100 should be easy as a average, but I'm time and account limited and need huge account growth over the next 2 months 3 tops.
hi Turveyd,

How's it going?

I am doing a very similar thing right now. My target is 200 pips a day.
I know that sounds ambitious, but I have been backtesting my 1M system and trading it live for 2 weeks now, so it's doable. I have an 85% positive trade ratio, and my losing trades I never let slip more than 10 pips. (except for a couple of stupid exceptions when I waited too long and lost 25 and 40 pips)

My biggest challenge is trusting my method and entering the trades on the signal and not waiting. Starting Monday, I'm going for it.

I'm trading the GU and GY, Asia, London, and if NY is trending nicely. Right now I'm trading micro lots so it's 1 dollar a pip. I opened a new test account with 1K to start on Monday with. How I structured my MM is to increase my lot size by 1 micro lot by each 1K increase in my account, so, by September I will be trading 1 full lot, and then start to scale back the amount of trades I'm taking.

I'm starting a 1M trade journal from Monday morning Asia session to record my trades as I do them. That way I can share my learning process. If you're interested, please join in
  • #153,997
  • Aug 1, 2009 12:58pm Aug 1, 2009 12:58pm
Quoting 8000VDragon
hi Turveyd,

How's it going?

I am doing a very similar thing right now. My target is 200 pips a day.
I know that sounds ambitious, but I have been backtesting my 1M system and trading it live for 2 weeks now, so it's doable. I have an 85% positive trade ratio, and my losing trades I never let slip more than 10 pips. (except for a couple of stupid exceptions when I waited too long and lost 25 and 40 pips)

My biggest challenge is trusting my method and entering the trades on the signal and not waiting. Starting Monday, I'm going for it.

I'm...
C'mon guys...don't be so modest...where are we here? after all the hugest most opulent marketplace on earth...Na, Na...anything under AT LEAST 500 pips a day with a stop loss of 5 pips is really a failure...please all go back to your drawing boards...there's no time to waste...
Hear the music before the song is over ...
  • #153,998
  • Aug 1, 2009 1:08pm Aug 1, 2009 1:08pm


Quoting GlobalMacro
C'mon guys...don't be so modest...where are we here? after all the hugest most opulent marketplace on earth...Na, Na...anything under AT LEAST 500 pips a day with a stop loss of 5 pips is really a failure...please all go back to your drawing boards...there's no time to waste...
Its all in the mind.
  • #153,999
  • Edited 1:35pm Aug 1, 2009 1:23pm | Edited 1:35pm
Quoting ams
MAL,

this baby isn't stopping until ftse stop growing. we are bullish severly...this isn't even a spike candle it's rock solid.

Don't forget it was friday evening when markets are not that active. I think everybody boarded the train when they saw the spike. We have asia who will sell on this high price so some consolidation. Then??? Everything against the dollar went up oil, gold, curr etc.

I beileve it's all conspiracy done by GSachs. They know weeks in advance what will happen. After all they are "the insiders".
Atleast half of...
No offence man, but please keep it real on this forum, through writing about what you actually know for certain. I know this may be difficult, given the internet is a natural breedind ground for wild conspiracies that can be entertaining to read, but mostly are sadly loose on facts.

I worked in the interbank market for 13 years, prior to trading for myself, and can state with certainty that you are off-track with your wild theories on GS. I dealt with GS and know many people who still work for them, some of them personal friends. They are good, bloody good in fact, but are definitely not the sole master of the universe.

Also, to everyone, please be careful what accusations you make on a public forum. Personally, I couldn't give a damn what is written about such a huge corporation, but I really would advise caution. Make sure you have evidence to back up any claims made.

Cheers
  • #154,000
  • Aug 1, 2009 1:28pm Aug 1, 2009 1:28pm
Quoting malcolmb14
at least we should see a test of the break out level 1.6570
Attachment
OK I will close all shorts at this level on Monday

Quoting ams
MAL,
this baby isn't stopping until ftse stop growing. we are bullish severly...this isn't even a spike candle it's rock solid.
however it was a spike
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