Cable Update (GBPUSD) | Page 12409 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #248,161
  • Aug 24, 2010 5:38am Aug 24, 2010 5:38am
Quoting cloggie
Hedging the same currency pair, Martingale and scaling into losers must be the 3 biggest money spinners for the brokers.

Sorry buddy, the "pros" as you call them don't "hedge" the same currency pair, why would they, closing one and opening a fresh one in the right directions makes far more sense.

Hedging the same currency pair to make up for your ill timed or wrong entry just means that you are too scared to admit your mistake and try to make up for it by an ill thought out opposing trade.
Disagree, it can save you some transaction costs and supply some peace of mind for longer term positions, nothing to do with wrong entries or scariness, just with volatility within a trend.
But I guess there are few long term traders here....
Don't be a hero. Don't have an ego. Always question yourself
  • #248,162
  • Aug 24, 2010 5:39am Aug 24, 2010 5:39am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Asked you a question while back:

http://www.forexfactory.com/showpost...stcount=247723



ta
ams

Quoting puma1
"Short" Shorting TP 1.5386
  • #248,163
  • Aug 24, 2010 5:41am Aug 24, 2010 5:41am
this market is starting to look alot like yesterday, dead... let's wait and see. Maybe asia will pop the cork again
@pawpaw1000 on Twitter
  • #248,164
  • Aug 24, 2010 5:44am Aug 24, 2010 5:44am
Quoting Scipionz
LOL, opening a new position? A pro?!

When you are a hedge funds or a portefolio manager, you can't just dump your shit over the market.... you have way to much in hands and maby your are just unsure about market direction for a while.

A market maker accumulate order ll day long, so he keep positon over night. Opening...
It is big money that needs to hedge so they do not over flow the point that they want to market the currency they hold so hedging will average their position.
  • #248,165
  • Aug 24, 2010 5:49am Aug 24, 2010 5:49am
Quoting Execute
It is big money that needs to hedge so they do not over flow the point that they want to market the currency they hold so hedging will average their position.
Sure, all this is at another level.
All I am saying, is that hedging is not evil.

Just need to be pratice and well understood.
If not, as Cloggie said, this is really dangerous approch.

All the best to you all.
Nap time for me!

Later!
"Flip that coin!"
  • #248,166
  • Aug 24, 2010 5:50am Aug 24, 2010 5:50am
@ all

i know this is the worng place to ask this but can anyone help me with details on PRICE ACTION theory.

any link or book or any refferal material will do

thanks in advance


regards
Nishant
  • #248,167
  • Aug 24, 2010 5:55am Aug 24, 2010 5:55am
Quoting nishantwood
@ all

i know this is the worng place to ask this but can anyone help me with details on PRICE ACTION theory.

any link or book or any refferal material will do

thanks in advance


regards
Nishant
here you go try these links
http://www.google.co.uk/search?hl=en...i=&safe=images
  • #248,168
  • Aug 24, 2010 6:02am Aug 24, 2010 6:02am
Woke up to some pleasant surprise this morning. Expecting more bear when stocks fail in NY.
Happy dealing all
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #248,169
  • Aug 24, 2010 6:07am Aug 24, 2010 6:07am
Quoting Scipionz
Sure, all this is at another level.
All I am saying, is that hedging is not evil.

Just need to be pratice and well understood.
If not, as Cloggie said, this is really dangerous approch.

All the best to you all.
Nap time for me!

Later!
AS said big money not us micro or min or standard accounts.
We must stick with PA









a
  • #248,170
  • Aug 24, 2010 6:07am Aug 24, 2010 6:07am
Quoting Precap2
Woke up to some pleasant surprise this morning. Expecting more bear when stocks fail in NY.
Happy dealing all
  • #248,171
  • Aug 24, 2010 6:08am Aug 24, 2010 6:08am
funny PA though....but i see buyer coming in M15 and each time they are stronger and stronger....
i did see coming but not this early.......any comments?
  • #248,172
  • Aug 24, 2010 6:10am Aug 24, 2010 6:10am
Quoting ams
Asked you a question while back:

http://www.forexfactory.com/showpost...stcount=247723



ta
ams
Hi Ams,

I can help you with your Point and Figure query.

Point and figure charts do not plot price over time but movement only. The graph will plot X's as price rises and O's as price falls. They can be used to cut the noise out of the market and identify support/res and price trend.
Given that they plot movement you can see the extent of the upthrusts in price and downthrusts which makes it useful to identify when price is beginning to change direction. Almost like reading the tape this method plots price movements on graph so you will see how price movement developed over a e.g. 30min candle giving clues as to where large orders maybe getting fed into the market......All this can be interpreted
from candle charts aswell but the detail is much better via a PnF chart.

5 min GU candle chart and PnF attached for comparison...You can see how the noise is cut out and where price is rising and falling clearly. A standard candle can mask this sometime.

Stocky
Attached Image(s) (click to enlarge)
Click to Enlarge Name: mt1.jpg Size: 93 KB
Click to Enlarge Name: mt2.jpg Size: 121 KB
  • #248,173
  • Aug 24, 2010 6:20am Aug 24, 2010 6:20am
Quoting pawpaw1000
this market is starting to look alot like yesterday, dead... let's wait and see. Maybe asia will pop the cork again

Here is the current play and the reason why your earlier short needed a tight stop.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: today's play 61.gif Size: 26 KB
Click to Enlarge Name: today's play 62.gif Size: 22 KB
  • #248,174
  • Aug 24, 2010 6:25am Aug 24, 2010 6:25am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Hey SM,


Glad to see you mate, where have you been. Haven't seen you after DT/ shakefx has left??

Thanks for the explanation, I like simplicity and P&F charts are simple, buy/sell when above or below certain SR. I also got the strong connection of your bell curve charts where certain areas are filled before the actual journey continues.

One final confusion, how the O and X are caluclated, are they based on timeframe or pip count?

ta
ams



Quoting Stocky Monk
[color=black][font=Verdana]Hi Ams,

I can help you with your Point and Figure query.

Point and figure charts do not plot price over time but movement only. The graph will plot X's as price rises and O's as price falls. They can be used to cut the noise out of the market and identify support/res and price trend.
Given that they plot movement you can see the extent of the upthrusts in price and downthrusts which makes it useful to identify when price is beginning to change direction. Almost like reading the tape this method plots price movements...
  • #248,175
  • Aug 24, 2010 6:26am Aug 24, 2010 6:26am
Quoting USD-Bear
Disagree, it can save you some transaction costs and supply some peace of mind for longer term positions, nothing to do with wrong entries or scariness, just with volatility within a trend.
But I guess there are few long term traders here....
I agree. For intraday it doesn't make much sense, but on carry trades, it's quite logical.

The big boys do it all the time. Not too long back Goldman was accused of trading against their clients by some Senate airhead because they were hedging the market.
  • #248,176
  • Aug 24, 2010 6:26am Aug 24, 2010 6:26am
Quoting Stocky Monk
Hi Ams,

I can help you with your Point and Figure query.

Point and figure charts do not plot price over time but movement only. The graph will plot X's as price rises and O's as price falls. They can be used to cut the noise out of the market and identify support/res and price trend.
Given that they plot movement you can see the extent of the upthrusts in price and downthrusts which makes it useful to identify when price is beginning to change direction. Almost like reading the tape this method plots price movements on graph so you will...

You can simply draw the shadow's color the same as your chart background.
  • #248,177
  • Aug 24, 2010 6:27am Aug 24, 2010 6:27am
Quoting J. Halprid
And I think that we gonna see GBP/USD at the point of about 1.5550 by the end of the day. This reduction can't last forever.
Optimistic approach is ruinous in forex. The man became a good poet. Possible, he lacks imagination for trading
  • #248,178
  • Aug 24, 2010 6:28am Aug 24, 2010 6:28am
Quoting Fudomyo
I agree. For intraday it doesn't make much sense, but on carry trades, it's quite logical.

The big boys do it all the time. Not too long back Goldman was accused of trading against their clients by some Senate airhead because they were hedging the market.

It is still not hedging that is multi strategy trading.
  • #248,179
  • Aug 24, 2010 6:34am Aug 24, 2010 6:34am
Quoting Fudomyo
a turd by any other name would still be as polished.

Not really, a lot of the noobs here use the term hedging and want to enter into an opposing trade because they timed their entry wrong and "think" the tide is going to turn on them and call it hedging. That is a losing strategy. Being a position trader and using an intraday strategy to trade the intraday trend is not hedging that is multistrat.
  • #248,180
  • Aug 24, 2010 6:35am Aug 24, 2010 6:35am
Quoting Fudomyo
I agree. For intraday it doesn't make much sense, but on carry trades, it's quite logical.

The big boys do it all the time. Not too long back Goldman was accused of trading against their clients by some Senate airhead because they were hedging the market.
LOL! Right on!

Quoting cloggie
It is still not hedging that is multi strategy trading.
Oh!!!!!! If we had knew before!
Now everything is soooo clear...

Seems only you know it all, so we will just shut up then....
I will call it hedging anyway, that you like it or not!

Hehe!

(sorry I will go nap soon...)
"Flip that coin!"
501 traders viewing now, 2 are registered:
,