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Cable Update (GBPUSD)

  • #188,401
  • Dec 18, 2009 2:43pm Dec 18, 2009 2:43pm
Closed long, or should I say my stop closed it for me. Didn't want to come out just yet but for some unknown reason my MT4 platform would not execute a trailing stop. It said it had by putting a tick next to it but it didn't happen. Had to put a hard stop in which just got hit. Done for the weekend and probably the year.

I don't post often so if I don't speak before have a great Xmas all you traders and I hope the new year brings you all you wish for.
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  • #188,402
  • Dec 18, 2009 2:45pm Dec 18, 2009 2:45pm
Quoting Cdawg
I can see what you mean about the USD, but one thing is the US will not relinquish its currency as the international base currency.. might not be caled the USD, but they will have a hold on it what ever it gets called..

I'm also inclined to think we see the end of the euro before the end of the USD..
I think you must be too young to remember the powerhouse that was the Deutchmark!
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  • #188,403
  • Edited 3:12pm Dec 18, 2009 2:55pm | Edited 3:12pm
Quoting egkid
GM
I must admit something, There was 1 man i find him best one on FF since 3 years i have been here ,He is Down river trader but unfortunately he stop post
The only man i find him take his place only you GM
You know exactly what are you doing (Wish you all the best and hope you post some more to learn from you please)

Of course there are many great trader i like them and follow what they post but In my View GM No:1
Thanks
Egkid
Hi Egkid, How are you brother? I hope alright...

Thanks very much for the compliments.

I trade only certain setups, sometimes there are numerous sometimes rare, but I will try to keep you guys up-to-date.

I wish you all the best as well & have a great weekend!
Hear the music before the song is over ...
  • #188,404
  • Dec 18, 2009 3:02pm Dec 18, 2009 3:02pm
Quoting Uphios
Malcomb,
Your making me laugh here. Have you forgotten the USdebt clock? The odd 12+ trillion US national debt. I can assure you that the rest of the world has not overlooked it. Not a big enough number? how about the 55 trillion US total debt. I don't think the odd shortfall in Greece is going to trouble the investment world quite as much as the US problem in the long run.

In the meantime, the likes of Germany and France would love the Euro to come down to parity. Ask Airbus how difficult it is competing against Boeing with these exchange rates....
The U.S debt is overrated......please do some research before you make these kinds of comments.....as I have tried to tell many others. The dollar is going up and you obviously do not understand the dynamics of the national debt, economics, or the U.S. economy.
  • #188,405
  • Dec 18, 2009 3:15pm Dec 18, 2009 3:15pm
Quoting GlobalMacro
Hi Egkid, How are you brother? I hope alright...

Thanks very much for the compliments.

I trade only certain setups, sometimes there are numerous sometimes rare, but I will try to keep you guys up-to-date.

I wish you all the best as well & have a great weekend!
You are welcome bro,
Happy weekend
  • #188,406
  • Dec 18, 2009 5:36pm Dec 18, 2009 5:36pm
Quoting malcolmb14
ok here is my theory ...

USD is toast ... within 5 years it will be worthless...

HOwever .. imagine all the bonds that China has ... and Russia etc etc . Would you screw your buddies ? they are going to an all mighty doallr short squeeze ...maybe even take usd to all time high . Then all current holder of bonds can get out of them with a nice fat profit.

Then the international money will change ito euro based ..... think they will change it when euro is flying high , all countries will suffer large losses as the reservses are changed form...
As usually I agree with you malcomb...trade positions aswell after our good call on fake up cable (cheers by the way).

Arguably, to me the strongest currency is and remains Yen (Yuan aswell)... USD keeps falling against YEN since 1982, EUR is going down aswell (since 1979) against it, just watch your monthly chart....nothing to search for, it's plain simple. And we can't debate on the fact that Asia's economy has the most solid base to survive economy depressions...come on... China's economy is rising and did so even during this "Global" crisis we're facing.

Banks would have done far better to keep money in Yen than risky GBP, USD and Euro....let's face it we're not running the world anymore
"Hate the sin, love the sinner." - Gandhi
  • #188,407
  • Edited 6:34pm Dec 18, 2009 5:38pm | Edited 6:34pm
Quoting TaoTrader
The U.S debt is overrated......please do some research before you make these kinds of comments.....as I have tried to tell many others. The dollar is going up and you obviously do not understand the dynamics of the national debt, economics, or the U.S. economy.
Your quite correct of course, silly me, I trusted the figures released by the U.S. Treasury. Clearly they are career politicians and consequently only deal in lies. However I would have thought that they would tend to understate the size of the debt rather than overstate.

Here is a site for you, to help you with your understanding of Nation debt, economics and the US economy. http://www.usdebtclock.org/
Point to any figure and at the top it will tell you the government department source for the figure. Of course your right 12 thousand billion is not a lot if you say it very quickly and sure makes Greece look bad with their 266 Billion debt.


Now if only the US didn't spend more on 'defence' than the rest of the world combined, they might be able to pay off some of their debts.

Edit. Just a little more for your education, you know the Economist, you must of heard of it?
The Economist wrote in May 2009: "Having spent a fortune bailing out their banks, Western governments will have to pay a price in terms of higher taxes to meet the interest on that debt. In the case of countries (like Britain and America) that have trade as well as budget deficits, those higher taxes will be needed to meet the claims of foreign creditors. Given the political implications of such austerity, the temptation will be to default by stealth, by letting their currencies depreciate. Investors are increasingly alive to this danger..."
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  • #188,408
  • Dec 18, 2009 5:47pm Dec 18, 2009 5:47pm
Quoting TheGabriel
Arguably, to me the strongest currency is and remains Yen (Yuan aswell)...
Hi Gabriel,

The Yen. Now I have to admit this is one I do not understand. As far as I can determine Japan has a real problem. For years, long before the current crisis their banks are funded by the government because they are carrying so much bad debt (or so I am told). Yet every time there is a financial wobble the funds flee to the Yen. Japans interest rates are low and have been for ages, their stock market took a huge hit, about the time I shifted my pension money into Japan stocks, from which it has never recovered and deflation is a constant problem for them. Yet they are seen as a safe haven in times of stress, which actually adds to their problems!. They hate the Yen being as strong as it currently is and want a USDJPY off about 110 or better. Their goods are being priced out of the international market.
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  • #188,409
  • Dec 18, 2009 6:00pm Dec 18, 2009 6:00pm
Quoting malcolmb14
seems is the ultimate word

according to forex factory we are all billioanaires and anyone that takes upo trading can become pros in about 7 days and make all kinds of money with ease.

The stats of 75 % fail , 10 % break even , 10% make an ok living and 5% make it the millionaires cluib trading aree wrong according to ff. It is more like 75% make to to millioanires club , 10% make over 50 k per month , 10% break even and 5% lose money .....

if this was really the case why do brokers push there wares so avidly .. they make so much money...
Not to over-quote malcomb...but chart speaks by itself imo. It's the same pattern over and over...

Today it was a bit up on Cable and USD got "weaker" for a few hours and everyone went in and bought, while we were saying ( said it after 30 minutes the up started) loud it was a fake move, not because just because of the long term trend....but have u seen the huge manipulation with fast up-move (to make you buy like mad) that in few minutes got sold but the market would just sit up there and rise a bit so others would buy too and then just fall?

I'm expecting this kind of moves next week as some big money flow is being withdrawn and markets could easly be driven by big manipulators.

...so just to try something out why not stay with what the daily chart says instead of dreaming about bottoms at special numbers? I don't want to be rude but from the 4th of December have you seen a daily candle close up for Euro/Usd? I see none.

A safer bet would have been to sell the last rally then guess that every rally is a big trend.
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"Hate the sin, love the sinner." - Gandhi
  • #188,410
  • Dec 18, 2009 6:08pm Dec 18, 2009 6:08pm
Quoting Uphios
Hi Gabriel,

The Yen. Now I have to admit this is one I do not understand. As far as I can determine Japan has a real problem. For years, long before the current crisis their banks are funded by the government because they are carrying so much bad debt (or so I am told). Yet every time there is a financial wobble the funds flee to the Yen. Japans interest rates are low and have been for ages, their stock market took a huge hit, about the time I shifted my pension money into Japan stocks, from which it has never recovered and deflation is a constant...
I don't know about their debts and you could be right indeed, but it looks like it's just working and I really can't see the government to drive the JPY up since 1980 (when my metatrader data starts...). Sure right now looks like USDJPY might have found a bottom for next months, sure I can see it at 110 but I'm not seeing any real LONG term reverse until it breaks 150.

Edit: I'm just seeing how money is being withdrawn for the last 3 months from the down move on USDJPY and it's looks like it might be a good occasion to buy long term USDJPY (for few months at least) and it could reach 100 & more with no problem at all.
"Hate the sin, love the sinner." - Gandhi
  • #188,411
  • Dec 18, 2009 6:53pm Dec 18, 2009 6:53pm
Dollar is has strenght,look at last year, for 3 months (jan09-march09)
We are not bankers they are bankcrupted ,so am i .
please dont join me !beat then
  • #188,412
  • Dec 18, 2009 9:31pm Dec 18, 2009 9:31pm
Quoting malcolmb14
ok here is my theory ...

USD is toast ... within 5 years it will be worthless...

HOwever .. imagine all the bonds that China has ... and Russia etc etc . Would you screw your buddies ? they are going to an all mighty doallr short squeeze ...maybe even take usd to all time high . Then all current holder of bonds can get out of them with a nice fat profit.

Then the international money will change ito euro based ..... think they will change it when euro is flying high , all countries will suffer large losses as the reservses are changed form...
Let me guess.....you harbor any negative feelings towards the U.S? This is another long post saying absolutely nothing. Nothing in regards to the truth about the U.S. Dollar. I have said it many times......you.....just like many people on here.......appear to not understand the dynamics of economics, of the U.S. national debt or what the market is in the process of doing.
  • #188,413
  • Dec 18, 2009 9:59pm Dec 18, 2009 9:59pm
Quoting TheGabriel
As usually I agree with you malcomb...trade positions aswell after our good call on fake up cable (cheers by the way).

Arguably, to me the strongest currency is and remains Yen (Yuan aswell)... USD keeps falling against YEN since 1982, EUR is going down aswell (since 1979) against it, just watch your monthly chart....nothing to search for, it's plain simple. And we can't debate on the fact that Asia's economy has the most solid base to survive economy depressions...come on... China's economy is rising and did so even during this "Global" crisis...
Interesting post. However, I have to say in reference to the strongest currency it depends what angle you approach the subject from. The dollar holds mighty power and influence, it is the world reserve currency, and the U.S. one of the most credit worthy countries in the world. Earlier I said it was number one.....misprint on my part.
  • #188,414
  • Dec 19, 2009 1:10am Dec 19, 2009 1:10am
Your argumnet is based on the fat that " USD is toast ... within 5 years it will be worthless..."

Could you please explain for the newbies why is that? I know that many statistics in US (such as unemployement and defecit and ...) are messed up, but what if they fix it in 5 years up to some extent?

Thank you.

Quoting malcolmb14
ok here is my theory ...

USD is toast ... within 5 years it will be worthless...

HOwever .. imagine all the bonds that China has ... and Russia etc etc . Would you screw your buddies ? they are going to an all mighty doallr short squeeze ...maybe even take usd to all time high . Then all current holder of bonds can get out of them with a nice fat profit.

Then the international money will change ito euro based ..... think they will change it when euro is flying high , all countries will suffer large losses as the reservses are changed form...
  • #188,415
  • Dec 19, 2009 3:45am Dec 19, 2009 3:45am
Quoting Uphios
Your quite correct of course, silly me, I trusted the figures released by the U.S. Treasury. Clearly they are career politicians and consequently only deal in lies. However I would have thought that they would tend to understate the size of the debt rather than overstate.

Here is a site for you, to help you with your understanding of Nation debt, economics and the US economy. http://www.usdebtclock.org/
Point to any figure and at the top it will tell you the government department source for the figure. Of course your right 12 thousand...
Another entire post saying absolutely nothing......pseudo profound nonsense.
  • #188,416
  • Dec 19, 2009 3:45am Dec 19, 2009 3:45am
Studying elliott wave
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  • #188,417
  • Dec 19, 2009 4:27am Dec 19, 2009 4:27am
Quoting Fusion
Your argumnet is based on the fat that " USD is toast ... within 5 years it will be worthless..."

Could you please explain for the newbies why is that? I know that many statistics in US (such as unemployement and defecit and ...) are messed up, but what if they fix it in 5 years up to some extent?

Thank you.
USD is a toast because is way too unstable and banks/governments are exchanging their reserves of dollars to euro or yen.
"Hate the sin, love the sinner." - Gandhi
  • #188,418
  • Dec 19, 2009 4:30am Dec 19, 2009 4:30am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Good trading First man!
I am keeping an eye on your trades, and you are doing good!

What's your strategy?



ta
ams


Quoting Yngwie
Finally hit TP for 130 pips.

My total weekly profit is 930 pips.. not good as 1st week. Total profit so far for Dec 2009 is 1,962 pips

More refer to my blog
  • #188,419
  • Dec 19, 2009 4:31am Dec 19, 2009 4:31am
Quoting Yngwie
Finally hit TP for 130 pips.

My total weekly profit is 930 pips.. not good as 1st week. Total profit so far for Dec 2009 is 1,962 pips

More refer to my blog
Congrats for your profits ....I'm happy with 300 pips on average because all I want is constant profits from a very precise strategy that with time I can leverage without losing because I'm some way emotionally fked up, but your profits are really big, does your strategy have the same results in ranging markets like GBPUSD last week?

I've checked your blog and I see you're giving your trading signals, I'll check it while I trade and see how your trades go, you provide them real time?
Keep making profits
"Hate the sin, love the sinner." - Gandhi
  • #188,420
  • Dec 19, 2009 4:37am Dec 19, 2009 4:37am
Quoting glockp10
Studying elliott wave
I don't know elliot wave, but really I'm not seeing how markets with the unstable economy and the big liquidity that will rise with 2010 can follow elliot wave, elliot wave fails with markets in range or trending very fast in my opinion, I haven't studied elliot wave but this is my opinion.
"Hate the sin, love the sinner." - Gandhi
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