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Cable Update (GBPUSD)

  • #225,681
  • May 11, 2010 12:13pm May 11, 2010 12:13pm
Quoting Ineedpips9
now that i think about it, not even a 1st day newbie would actual fall for gbp/gbp. If they did, then they would have A LOT of learning to do. Anyways, bbaker, are you flat, or waiting fot the hourly resistance as well?
I am long since 1.4867 and keeping the position open. I closed my short and opened a long when the news first came out - 2hrs 15min ago

http://www.forexfactory.com/showthre...67#post3715467

Going home now. Done FA today in the office. Oh well, all my cases are waiting for customers to respond and I can't be bothered to take on new ones See you peeps later on.
  • #225,682
  • May 11, 2010 12:16pm May 11, 2010 12:16pm
Quoting bbakker
Trade your charts, plan your trade and trade your plan! Everyone in this room has a different trading style and has different ideas on how to trade.

ForexLion.... Happy now?
I'm totally doing that. I was just frustrated that my target of 5055 wan't hit yet. I saw the 20+ pip drop and before I stopped myself my trigger finger decided to cut losses bc it's about to go back on it's bearish path. Then i looked at the thread and lion said go long on what i thought he meant was cable, just wanted to type fast because he thought it was gonna move in a hurry. I didn't trade it or anything bc i just made one emotional decision and didn't want to compound the problem. But sure enough cable did go back to breakeven.
That's it. Just was wondering what other's mindsets and positions were. Sorry for the confusion.
  • #225,683
  • May 11, 2010 12:22pm May 11, 2010 12:22pm
Quoting Ineedpips9
I'm totally doing that. I was just frustrated that my target of 5055 wan't hit yet. I saw the 20+ pip drop and before I stopped myself my trigger finger decided to cut losses bc it's about to go back on it's bearish path. Then i looked at the thread and lion said go long on what i thought he meant was cable, just wanted to type fast because he thought it was gonna move in a hurry. I didn't trade it or anything bc i just made one emotional decision and didn't want to compound the problem. But sure enough cable did go back to breakeven.
That's it....
Don't beat yourself up over losses. We all make losses. Also stick to your plan and don't let the itchy trigger finger get in the way! Risk/Reward ratio before every trade ensures that you stick to it! Good luck with your trading!
  • #225,684
  • May 11, 2010 12:24pm May 11, 2010 12:24pm
why do you assume it's going back on a bearish path? do you have any sense at all of the fundamentals that are driving price today?

Quoting Ineedpips9
I'm totally doing that. I was just frustrated that my target of 5055 wan't hit yet. I saw the 20+ pip drop and before I stopped myself my trigger finger decided to cut losses bc it's about to go back on it's bearish path. Then i looked at the thread and lion said go long on what i thought he meant was cable, just wanted to type fast because he thought it was gonna move in a hurry. I didn't trade it or anything bc i just made one emotional decision and didn't want to compound the problem. But sure enough cable did go back to breakeven.
That's it....
"The real genius is knowing when to stop." - Marc Faber
  • #225,685
  • May 11, 2010 12:36pm May 11, 2010 12:36pm
Pulled out of my long at 15000 with nice profit. Now awaiting a new entry. Does anyone think this will test DP again? Looking for a goof entry ...
  • #225,686
  • May 11, 2010 12:39pm May 11, 2010 12:39pm
Quoting hhitch
why do you assume it's going back on a bearish path? do you have any sense at all of the fundamentals that are driving price today?
seriously, calm down. If you read carefully, you would have seen that it was an emotional reaction because of the 20+ pip drop. relax. While I don't have a full grasp of how british politics work (I'm a yankee), I do understand a little bit. I do understand to some degree of how the fundamentals are moving pa. We can debate the argument of technical vs. fundamentals for hours, but it's pointless. If you have a basic grasp of fundamentals you know what to look out for. Technical/charts have fundamentals built in.
  • #225,687
  • May 11, 2010 12:39pm May 11, 2010 12:39pm
price looks is if just drifting till more news.
  • #225,688
  • May 11, 2010 12:43pm May 11, 2010 12:43pm
Can anyone advise or give thought of what the GBP/USD will do based on Lib Dem in and Labour out ? will it be a sell off, or buy ?? just trying to understand the effects of this political action on a market...
  • #225,689
  • May 11, 2010 12:46pm May 11, 2010 12:46pm
the market seems to have priced in tory/libdem government now. may get spike when affirmed.
  • #225,690
  • May 11, 2010 12:51pm May 11, 2010 12:51pm
Quoting britnla
Can anyone advise or give thought of what the GBP/USD will do based on Lib Dem in and Labour out ? will it be a sell off, or buy ?? just trying to understand the effects of this political action on a market...

sell off!!
Thank You
  • #225,691
  • May 11, 2010 12:56pm May 11, 2010 12:56pm
Thanks wormboy... Im obviously new and just trying to get an understanding on the markets and major even effects such as this...
  • #225,692
  • May 11, 2010 1:00pm May 11, 2010 1:00pm
I'm thoroughly looking forward to seeing Gordon Brown slink off tonight
  • #225,693
  • May 11, 2010 1:03pm May 11, 2010 1:03pm
Quoting britnla
Thanks wormboy... Im obviously new and just trying to get an understanding on the markets and major even effects such as this...
you're welcome.

but you shouldn't take what i said seriously
I sold based on what I see printed on my charts. Nothing to do with what's going on with uk politics. I do not know what implications it will have on cable once the coalition govt is announced.

I just trade the charts. sorry if i sound confusing
Thank You
  • #225,694
  • May 11, 2010 1:04pm May 11, 2010 1:04pm
Quoting wormboy
sell off!!
U got a target in mind Wormie??? i am aim for 14800
Trade what you see never what you think!
  • #225,695
  • May 11, 2010 1:10pm May 11, 2010 1:10pm
HAHA, look at the MOB awaiting brown outside no 10. Baying for blood! I'm flat cable. Might be a spike up on announcement, but quite likely a drop because it's already factored in. Might be some surprises. Hmmm, just watching.
  • #225,696
  • May 11, 2010 1:10pm May 11, 2010 1:10pm
Quoting wormboy
you're welcome.

but you shouldn't take what i said seriously
I sold based on what I see printed on my charts. Nothing to do with what's going on with uk politics. I do not know what implications it will have on cable once the coalition govt is announced.

I just trade the charts. sorry if i sound confusing
Yes, I understand.... I just like to get feedback from senior traders to see what major events may do to the market.. I fully understand from you guys to trade your charts and not rely on speculation etc... But I am new and trying to soak up good info vs bad info
  • #225,697
  • May 11, 2010 1:14pm May 11, 2010 1:14pm
Brown on the way to see the Queen
  • #225,698
  • May 11, 2010 1:14pm May 11, 2010 1:14pm
Quoting cloggie
Brown on the way to see the Queen
They still need to drag him kicking and screaming from no 10 yet, but any minute ...
  • #225,699
  • May 11, 2010 1:16pm May 11, 2010 1:16pm
Quoting The Magician
They still need to drag him kicking and screaming from no 10 yet, but any minute ...

About bloody time.
  • #225,700
  • May 11, 2010 1:16pm May 11, 2010 1:16pm
Quoting cloggie
About bloody time.
Damn right!
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