Cable Update (GBPUSD)

Soory didnt see ur post B4. Download Plateform from "FOREXLTD.COM "

Click the " market watch " tab and all the way in the bottom u will see "symbols". Click that and a box will appear. Type " USDX " and hit enter. Then search for USDX symbol in the market watch and open the chart

Good Luck

Sorry for delay. Check Post # 466 for direction to get it .

Good Luck

Hi navin. Can you tell me if you getting the GBP index also on ur
FOREX LTD plateform ? I got USD and EUR but cant get the GBP . Thanks

yup it is there..hope the chart helps

u might need to go into market window and try an add it..then it appear..that might work

Malcolmb,

I agree. It is a silly game of pride and ego. It allows someone trading a penny a pip the same bragging rights as someone trading for $100 a pip. First if someones ego and pride is in the game, they are going to loose. Second, it is ridiculous to think that there is no difference between trading a penny a pip or $100. People will react to the dollar impact of the larger trade much differently.

In the world of trading it has always been.....I made $12.00 a share, 40 points per contract, and in forex 25 pips. or

Now that could be expressed in dollars...I made $1,200 trading stocks, $200 trading futures or $2.50 trading the Euro. $2.50 doesn't sound as impressive as 250 pips. A pip is a pip. Buy at 1.5000 and sell at 1.5010 is 10 pips.... period.

Have a great week.
BR

7 banks went down this weekend

costs the FDIC another 1.9 billion .

The fdic took 5 years forward of fees for the insurance policy from banks , so far out of that on 4 short months they have spent almost 12 billion .

140 banks have failed 2009 , reported 1000 will fail by end of 2010

This is the least of our worries .... JP Morgan , whose chart is looking very dicey , has 70 trillion in deirvatives .. wonder how many of these are european country bonds.

think market are strong ? think again here is weekly dj .... note the engulfing on very high volume = sellers , along with doji 4 weeks a ago ..

my 2010 target for dj is 7500

do we really want to hold longs thru weekend in times like this ? when daily trend is down.

In iras / rrsp and anyone in stocks at least move stops up to protect all prifts. If you have losses form 2007 and are waiting for them to come back to break even and this plays out then you may be waiting for many more year , better to take hit and move into inverse ETF like DXD , if market tanks it will move 30 to 70 , and may 90

gu 1.3500 or low in 2010 .... I think so
eu 1.1 maybe parity ... storng chance

for sure weakening of markets everywhere

sorry last chart was jp morgan look at rounded top

now here is dj

If you are trading on multiple currency pairs, there is a trend breakout, and the movement is strong 1000 pips a week is not unreasonable. I have 14 open trades right now, and the total positive movement for all these trades this week has been between 1 and 2 thousand. So no, this is not unusual, and typical for long term traders.

first of all the question remains still open:

At what level exactly did you sell GBP/USD yesterday going into the weekend?

Secondly before you start with gu 1.3500 in 2010 all over again....whatever happened to 1.5300 you predicted since june 2009 for August, September, October, November respectively ???

FYI, never materialized.....usually in a case like this a little humility starts to set in but no in this case no sign of it -- to the contrary.....


BTW, it is not my style whatsoever to take on these kinds of issues, but hey you asked for it....

I'm using IBFX for volume, looks good and not smoothed . fxpro.com has the same data.

Too bad I cannot subscribe esignal's feed from Europe :| something to to with licenses...tried few days ago.

Show me de Money... I so made now... Ha!!

Let me give another perspective on this issue. Anyone who studies economics and the economies of countries such as the U.S know the dollar is facing a possible drop......maybe even as the world reserve currency. You and SkyzerFX are not unreasonable to say these things. However, so many things have to be considered that I am not easily convinced the dollar is headed down next year. I am not an expert on economics, but I love this subject and I have studied it a great deal, along with constantly studying and observing world economic and currency issues.
The financial crisis that has shocked the global economy has clearly caused the dollar to depreciate. The U.S national debt continues to rise, and countries are weighing the option of leaving this currency for those offering more stability. However, the crisis has reached global proportions, and the EURO, Dollar, Pound and Yen all have problems with respect to their national and international financial affairs.
In many ways Economics is high speculation and theory, because know one will ever know exactly what is going on all the time, or what will happen. No human can be everywhere, know everything, and it is unlikely anyone has the perfect solution to fix the global economic problems, especially with respect to the dollar. A solution exists of course, but it must be tied into other issues, the length of which would be too long to discuss in a signal post. That would be the subject of a book. I do happen to be writing a book at the moment, but it is not about economics, it is focused on spirituality and philosophy.
Anyway, the U.S. debt is over 12 trillion dollars. A study of basic economics shows the U.S mint and the Bureau of Engraving and Printing can stimulate the economy as well as pay off the national debt. This is a bad choice with the way the global economy is set up though. What happens afterward? Rapid depreciation of the U.S. dollar. Again, anyone who studies economics will know this is not going to happen. Too much of one currency in circulation and not enough demand lowers the currency's value. And we have not even mentioned both sides of the inflation issue. The U.S. continues to print money at record rates, and the debt may never be paid off because of political, government, and financial mismanagement in the U.S and around the world.

So, with the dollar decreasing in value over the past several years, countries like China have proposed to create a new reserve currency. What are some of the considerations? Here are a few that have been mentioned:

The Chinese Yuan- the Chinese government is Communist, centralized, and exercises tight control over the Yuan. In direct contrast to Japan who chooses not to interfere with the Yen. As a result of these issues, the Yuan as a potential reserve currency would likely not happen for many years. China's leaders have also recognized the Dollar's continued and enduring strength on the global economy, especially in terms of competitiveness. China continues to purchase U.S treasuries as well, adding to China's large dollar reserve.

Special Drawing Rights-this potential reserve currency, through the International Monetary Fund, is composed of the U.S. Dollar, Yen, Euro, and the Great British Pound. SDR's will also take a substantial amount of time to replace the dollar, and the dollar holds more benfits, power and influence over SDR's. Furthermore, switching to any reserve currency requires a substantial effort and undertaking involving many people and resources. Many other disadvantages exist that are too long too discuss here. Just as the Chinese Yuan, SDR's are unlikely to replace the dollar. Recent reports have also said SDR's are no longer an option.

Euro Dollar-too many disadvantages to list here, although the Euro has been highly favorable next to the dollar in certain respect in recent years. The Euro will not easily replace the dollar, although many advantages exist, in reference to the weakening dollar.

Appreciation of different Currencies- scores of advantages and disadvantages exist to discuss here. Note this section is related to reasons why the dollar may not be going down. Appreciation of other currencies against the dollar has advantages and disadvantages. The disadvantages include problems related to inflation,deflation, import/export markets, interest rates, unemployment rates and domestic policy issues.

The current administration under the president of the United States has spoken of strengthening the dollar, and the president appears to be fully committed to the dollar's strength. Another result of the dollar's position in the global economy is that many countries have been taking action to keep their currencies from appreciating or going up against the dollar. The U.S. Treasury and the Federal Reserve also have the ability to intervene and influence the strength of the dollar, although this is not normal practice.

So....I am am not biased or unaware of the dynamics of the U.S. dollar. While the dollar has been weakening for a long time, recently it has been strengthening. The reasons I listed are likely helping the dollar improve. Of course, I do not believe the dollar will go up considerably with absolute certainty. Ultimately, my position is that fundamentals and technicals are favoring a dollar rise over the long term. Any thoughts......let's make this a discussion.

Getting ready to SELL de Cable... Ha!!

did 7 banks really go down this weekend..or was malcomb bullsh*ting?

My view:
Daily Down
G/U Will go up for while(Retrace), As long as it's under 1.66 my plan goes fine and
Daily will go down and expecting 1.5330 in next weeks

Now I'm sideline because it's will retrace up and wait to see if i will get signal to Sell in range (1.63 to 1.65)

Weekly consolidation:
There is 2 point should watch and they will tell where we will go in long run (1.6830 and 1.5330)
Meaning : Sell nearest point from 1.68xx - buy nearest point 1.53xx) With low SL Till daily close behind one of them

So, It's all about "Pick up your entry And limit your Risk"

GL All

Is it a different broker or something ?

Click the link to find out.
Upper left as of this post.

http://www.fdic.gov/

I rarely ever post but silent read. I have to give respect to GM for his incredible accuracy and his professional conduct in this thread.
This man has humility even when he has made over 1000 pips in a single trade when everyone was short and he went long.
Does eveyone remember that one.
Well done and a big thumbs DOWN to all who can't show some respect to good traders like GM.

Hi Malcomb,

Could you please post the address of that guys bolg who was a former risk analyst at JPMorgan? thank you.

m3financialsense.blogspot.com

If i am not wrong.