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Cable Update (GBPUSD)

  • #180,901
  • Nov 5, 2009 2:56am Nov 5, 2009 2:56am
Quoting bbmac
Lol.., and you shall have them @ 12 gmt.....The only certainty is uncertainty and the only only constant is change...welcome to forex trading lol
lol made me chuckle also!!!
Trading is 80% Emotional, 20% Technical
  • #180,902
  • Nov 5, 2009 2:58am Nov 5, 2009 2:58am
Quoting TauTrader
Good day to you,

After the EU trade entered before news, I was in serious trouble. Got my window to get out, but trying to close positions during volatility with my broker, just did not happen.

Looked at the charts from all angles. MM went out the window.Took a serious risk to average higher. Very little sleep - worried. Closed the trade just now... NEVER again.

That was just plain stupid trading. NEVER again. Pure luck.

Regards
never trade through news, anything liable to happen then, always minimise risk....
Trading is 80% Emotional, 20% Technical
  • #180,903
  • Nov 5, 2009 3:02am Nov 5, 2009 3:02am
Quoting fx local
another word of advise, think for yourself, and never search for "expert" opinion!!!

Haha, agree, agree.. Forum can be 5-10 % to increase your confident during trading. The rest is up to your technical analysis,MM, patience, etc2

Just if you not sure

1. Dont enter trade but watch carefully what happen. next month this news will come again.
2. Enter with 1 cent per pip and you can feel the heat.

Happy trading
Trade what you see. Write what you feel
  • #180,904
  • Nov 5, 2009 3:08am Nov 5, 2009 3:08am
reason why so many fail is that they need the answer, truth is to be successful, you inherently do not need to know whats going to happen next....
Trading is 80% Emotional, 20% Technical
  • #180,905
  • Nov 5, 2009 3:09am Nov 5, 2009 3:09am
Seeing from 4H market is still heading north, break 1.460, market can move to 1.360, break that, who knows.

I will be sitting a side for now

Good luck guys
Trade what you see. Write what you feel
  • #180,906
  • Nov 5, 2009 3:12am Nov 5, 2009 3:12am
Is everybody staying out of the market now? I can see that the moves going on now is too low.

Should I simply quit the market now or I should be expecting what we happen in the next news event coming on now? Please I need your answers please.
  • #180,907
  • Nov 5, 2009 3:15am Nov 5, 2009 3:15am
http://www.telegraph.co.uk/finance/c...f-a-cliff.html
Trading is 80% Emotional, 20% Technical
  • #180,908
  • Nov 5, 2009 3:17am Nov 5, 2009 3:17am
Ragged reverse head and shoulders on 1hr 4hr daily. Shorts beware. No need to post chart,just take a look at yours. Happy trading.
  • #180,909
  • Nov 5, 2009 3:22am Nov 5, 2009 3:22am
Just an advice from me.

Set your mind clear that forex is not place to get rich fast. I have been in that place and have learn my lesson. Early year I started with 500usd and able to make it to 3000++ in 3 weeks. Then I started greedy, no proper MM and lost all of it except I have withdraw my capital.

Although I have my technical right but because no proper MM, It has no use.

Happy trading.

p/s: untill now i kept the history of that 3 week trading.
Trade what you see. Write what you feel
  • #180,910
  • Nov 5, 2009 3:31am Nov 5, 2009 3:31am
September manufacturing increases by 1.7%.
You've got to be IN IT to WIN IT!
  • #180,911
  • Nov 5, 2009 3:33am Nov 5, 2009 3:33am
Even the MM is 1.7% Good, why the market is going down. Anyone one can explain?
  • #180,912
  • Nov 5, 2009 3:42am Nov 5, 2009 3:42am
Quoting Ifty
September manufacturing increases by 1.7%.
What do we expect from this news a pit off up side..?
  • #180,913
  • Nov 5, 2009 3:46am Nov 5, 2009 3:46am
Quoting rebelheart
What do we expect from this news a pit off up side..?
Todays main concentration is at 12pm when the QE news will be out. I don't trade around news and so don't benefit from the spikes caused. My aim is to maintain my consistency and so treat FX like a business rather than a gamble.

Obviously if QE is increased then GU will plummet but if not then who knows how high it will go. Either way I will wait and see what my charts are suggesting when things calm down.

GL all.
You've got to be IN IT to WIN IT!
  • #180,914
  • Nov 5, 2009 3:49am Nov 5, 2009 3:49am
Yesterday was a very stressful day. Had shorted cable at midday yesterday. When the FOMC statement was released the market went bonkers!!! My account was on the very edge of falling off the cliff. Just two dollars of margin was left before it reveresed. I was sweating like i just came from playing football.
I continuously scalped yesterday after the news yesterday just to increase usuable margin. This has been a lesson. I still have my shorts. Dont want to close at a loss so I just keeping my fingers crossed.

I got a feeling yesterday that this market indeed is controlled by the big boys. The way market jumped 50+ pips back and forth was evident that it was trying to take the s/l with it.
I am happy to have survived but am still stuck in the quick sand. GOd help me!
  • #180,915
  • Nov 5, 2009 4:00am Nov 5, 2009 4:00am
Quoting fx local
reason why so many fail is that they need the answer, truth is to be successful, you inherently do not need to know whats going to happen next....
i'm totally agree with you. the best market wizard never try to become a God who know what will happen next. So many trader do that, even in this forum
  • #180,916
  • Nov 5, 2009 4:02am Nov 5, 2009 4:02am
Quoting Ifty
Todays main concentration is at 12pm when the QE news will be out. I don't trade around news and so don't benefit from the spikes caused. My aim is to maintain my consistency and so treat FX like a business rather than a gamble.

Obviously if QE is increased then GU will plummet but if not then who knows how high it will go. Either way I will wait and see what my charts are suggesting when things calm down.

GL all.
Agree with not trading around news time. Got burned yesterday because I forgot to check when the data will be coming out.

My bias is bull with resistance at 6559 and 6589.

Support at 6482 and 6455
  • #180,917
  • Nov 5, 2009 4:06am Nov 5, 2009 4:06am
50% closed, bad PA - see blog if you wish details
  • #180,918
  • Nov 5, 2009 4:23am Nov 5, 2009 4:23am
So many events for today.
Attached Image
  • #180,919
  • Nov 5, 2009 5:01am Nov 5, 2009 5:01am
Is there any reason why the pound is falling after higher than expected growth in production?

Is it because the news at 12 is estimated to be bad? ( increase on BOE asset purchase)
  • #180,920
  • Nov 5, 2009 5:04am Nov 5, 2009 5:04am
Quoting need-help
Yesterday was a very stressful day. Had shorted cable at midday yesterday. When the FOMC statement was released the market went bonkers!!! My account was on the very edge of falling off the cliff. Just two dollars of margin was left before it reveresed. I was sweating like i just came from playing football.
I continuously scalped yesterday after the news yesterday just to increase usuable margin. This has been a lesson. I still have my shorts. Dont want to close at a loss so I just keeping my fingers crossed.

I got a feeling yesterday that this...
should you close your eyes and pray Allah for the best of you, whether you blow your account or close it in profit, is not important, pray for the best thing from Allah... if spending everyday with stress with blowing account continue what will you do that money... if you can not sleep well at night thinking of your account or not care about your family life for forex , just quitting is better... life is too short and time passes very fast...
Chief Member of 220 mph Riders Club...
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