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Cable Update (GBPUSD)

http://www.bloomberg.com/apps/news?p...d=ajlN4OMJUmOE

thx to GATORINLA .. in the EUR USD thread...
Just thought it needs to be shared here!
i wish she would head back south
Quoting antic81
JUst had a closer look at the news, seems to be a busy news day today for cable...that may mess with my plans of world domination!
ha ha ha...good luck...
Forex success = Patience + Leverage
thanks for the news but a 6-month forecast of EU @$1.45 is only 250 pips from where we are at now, and it may only take 1 day or 2 to reach 1.45
to me that's not particularly insightful
but i do agree that dollar may go lower after most treasury auctions are done

Quoting $maker
http://www.bloomberg.com/apps/news?p...d=ajlN4OMJUmOE

thx to GATORINLA .. in the EUR USD thread...
Just thought it needs to be shared here!
Quoting Iftikhaar
I am new trader, i am looking for help to trade in GBP......
what kind of help?
Thank You
for trading specially in cable ... level, market trend, sites, studies material, and different analysis.
Quoting wormboy
what kind of help?
Quoting wormboy
what kind of help?
Salute to WB, ever willing n ever ready(mcm bateri lak) to help.
Great Bodies are Engineered not Born
Quoting antic81
Man this week is going really badly...just got stopped out again...this is the worst week I have ever had on the markets, everything told me to go short...

I have gone from a 70 % plus strike rate down to 25% this week, its pretty soul destroying.
this is what called forex dude - we are on the same side. chill out lest you burnout.
Enter Signature
Permission to wobble my lower lip?

I suppose after a week like this the only thing to do is get back on the horse...today may not be the best day for it though, dont know if I could take another loss today, it may actually make me cry!
Hi, will GBP going down soon when news from EUR and GBP coming out later if it is a good news? After i manage to gain a 6k usd last friday, this wk is a hell wk for me. I have lose back what i earn. Hope it drop more even news turn to be good if not that really my bad luck
there is a saying "great people are willing to share". that's why they are good traders. flying high, but still keep the head low....
i did the same with about 20pips SL in a low time frame when i was working out the strategy for cable but i realized it did not work. i think the main reason is that cable is relatively volatile compared with all other major pairs, so a tight SL of 20 pips (actually 17pips assuming the spread is 3 pips) may be too tight. and for the same volatility reason, trading in short frames is difficult.
therefore, i guess a 20pips SL may be reasonable for less volatile pairs like UJ, AU, or EU, but i think looking at higher time frames is better for trading cable. (but of coz high SL means high risks)
but that is just for me, some may even use tighter SL and end up making more money
Quoting antic81
I may be having a good look at 6200 as that will be breaking the previous short term low on my 5 min, I carry a fairly tite stop of 20 pips (for MM reasons) so cant really afford a whipsaw...
its head down....
Long cable 6200 tp 6263..not use sl
Quoting Iftikhaar
for trading specially in cable ... level, market trend, sites, studies material, and different analysis.
okay.
drop me a pm & I will try to extend it as much as I can.
You have to be a little more specific tho, because what you just listed is a bit too general.
Thank You
Quoting RichLadyFX
Salute to WB, ever willing n ever ready(mcm bateri lak) to help.
you can be my energizer "bunny"
Thank You
Originally Posted by PSO
Quote
i did the same with about 20pips SL in a low time frame when i was working out the strategy for cable but i realized it did not work. i think the main reason is that cable is relatively volatile compared with all other major pairs, so a tight SL of 20 pips (actually 17pips assuming the spread is 3 pips) may be too tight. and for the same volatility reason, trading in short frames is difficult.
therefore, i guess a 20pips SL may be reasonable for less volatile pairs like UJ, AU, or EU, but i think looking at higher time frames is better for trading...

I will give myself another month and then do a full review and perhaps join you on the longer time frame, although you have a larger risk, what I would probably do is look for higher profits in pips and then trade a lower pound/point, any advice on that would be highly appreciated!

Many thanks,

Ant
Quoting wormboy
you can be my energizer "bunny"
What's going on here.....;
Veni, Vidi, Vici (We came, we saw, we conquered)
Quoting wormboy
okay.
drop me a pm & I will try to extend it as much as I can.
You have to be a little more specific tho, because what you just listed is a bit too general.


Good Man...
Quoting antic81
Originally Posted by PSO


I will give myself another month and then do a full review and perhaps join you on the longer time frame, although you have a larger risk, what I would probably do is look for higher profits in pips and then trade a lower pound/point, any advice on that would be highly appreciated!

Many thanks,

Ant
Many people are afraid of wide stops. All that is needed is some adjustment to the position sizing. Like you said, lower the amount of pip per trade. Comes down to the same thing really. The difference is you'd be able to trade off larger moves with minimal screen time. Less trading, less mistakes.

Good luck
Thank You
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