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Cable Update (GBPUSD)

  • #248,181
  • Aug 24, 2010 6:41am Aug 24, 2010 6:41am
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.
Hedging is always misunderstood even among pros sometimes. But hedging one currency with itself is stupid and against the original principle of hedging.
Happy trading to all martingale zealots

Trade well
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #248,182
  • Aug 24, 2010 6:42am Aug 24, 2010 6:42am
Quoting Scipionz
LOL! Right on!



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!
If monkeyitis makes money then it is a good strategy
  • #248,183
  • Aug 24, 2010 6:45am Aug 24, 2010 6:45am
Quoting Fudomyo
that's not hedging, that's stupidity.

.

Exactly and most of the noobs here don't get that.
  • #248,184
  • Aug 24, 2010 6:48am Aug 24, 2010 6:48am
Quoting cloggie
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.
i wish to learn to trade like you, where can i start ? guide me please. i found your style very good
  • #248,185
  • Aug 24, 2010 6:48am Aug 24, 2010 6:48am
Quoting Fudomyo

multi-strategy trading has a nice ring to it.

We used that to identify a manager that uses different strategies within the same pool of assets.
  • #248,186
  • Aug 24, 2010 6:51am Aug 24, 2010 6:51am
A newbie making multiple Short trades. Before the post is over he's already in profit. Argument is unprofitable, good trade is.

Trade well
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Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #248,187
  • Aug 24, 2010 6:52am Aug 24, 2010 6:52am
Quoting wormboy
monthly pvp target reached & breached.
Cleared 3/4 positions with the remaining short positions covered while the immediate targets left being 5330 & 5240.

Good luck.
cleared the remaining positions for profit. My position is now flat.
Good luck everyone.
Thank You
  • #248,188
  • Aug 24, 2010 6:52am Aug 24, 2010 6:52am
Quoting cloggie
Exactly and most of the noobs here don't get that.
Just to not end this on a bad note: we are not talking about the same thing, and I agree part of what you say.

No need to go further and make it an ego thing.
We are all here for the fun of it.

I'm off!
Good trading!

ps: the only reason they choose another product is because of liquidity... if not they hedge on the same products.
"Flip that coin!"
  • #248,189
  • Aug 24, 2010 6:52am Aug 24, 2010 6:52am
Quoting Precap2
A newbie making multiple Short trades. Before the post is over he's already in profit. Argument is unprofitable, good trade is.

Trade well

You are trading the pattern, that's what they are for. Just be mindful of that wedge on the M5 I posted earlier it is still in play. Once that goes it really confirms the flag on the 15.
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  • #248,190
  • Aug 24, 2010 6:52am Aug 24, 2010 6:52am
Quoting Precap2
Hedging is always misunderstood even among pros sometimes. But hedging one currency with itself is stupid and against the original principle of hedging.
Happy trading to all martingale zealots

Trade well
Not really. It's quite easy to understand. On a carry trade, price will often retrace anywhere up to 61% on each progressive move. By intraday trading the retraces, you can generate equity to reload for the next leg down which effectively increases position size while not putting additional principle at risk.

This has nothing to do with Martingale trading or doubling down on a bad trade, because the initial trade is not underwater.
  • #248,191
  • Aug 24, 2010 6:58am Aug 24, 2010 6:58am
Can't see any trades at the moment unless you're holding an existing position. I don't know whether it has been posted as of yet but here is the fib of the last weekly up move. The 61.8 is co-inciding with a resistance becoming support area on the 4 hour and should be somewhere around 5352. Hope you're all well.
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  • #248,192
  • Aug 24, 2010 7:02am Aug 24, 2010 7:02am
Another thing, I noticed at the top left hand corner of all my charts this morning was the phrase "hello sailor". I've never saved that as a template so I don't know how that got there.
  • #248,193
  • Aug 24, 2010 7:06am Aug 24, 2010 7:06am
Quoting Precap2
A newbie making multiple Short trades. Before the post is over he's already in profit. Argument is unprofitable, good trade is.

Trade well

Did you take your profit on that false break of the flag?
  • #248,194
  • Aug 24, 2010 7:22am Aug 24, 2010 7:22am
GBP has been hit overnight with an interview in the Telegraph by Dr Weale (of the MPC) citing the risk of a double-dip and that the growth forecasts for the UK might be overoptimistic.

This has pushed us through the lows from Friday, and we now have our sights set on 1.5300. From here though, the general risk environment is going to dominate. I am slightly wary of selling gbp here straight off the bat, and prefer to take some profit and sell a rally at 1.5480 if we see it.

The cross has bounced well, but is now at a small area of resistance at 0.8200. No UK data until Friday when the GDP numbers come out and we'll see if Weale is well intentioned in warning the markets. GBP: Support 1.5330, Resistance 1.5630; EUR/GBP: Support 0.8240, 8060. Resistance 0.8285.
{Promotion Removed}
  • #248,195
  • Aug 24, 2010 7:23am Aug 24, 2010 7:23am
Short @ 1.5385 (tripple top USD-Index broken)
Don't be a hero. Don't have an ego. Always question yourself
  • #248,196
  • Aug 24, 2010 7:25am Aug 24, 2010 7:25am
I think its gonna breach 1.52xx, looks pretty strong with bears.
To Your Success!!
  • #248,197
  • Aug 24, 2010 7:28am Aug 24, 2010 7:28am
if the low doent break then v r into a W formation on 15 min chart
  • #248,198
  • Aug 24, 2010 7:28am Aug 24, 2010 7:28am
Quoting cloggie
Did you take your profit on that false break of the flag?

We got ourselves a proper break, now stuck in between the fib retrace, the low and the S2. I am not going to jump on this one yet.
  • #248,199
  • Aug 24, 2010 7:29am Aug 24, 2010 7:29am
Quoting USD-Bear
Short @ 1.5385 (tripple top USD-Index broken)
short here?? well.. good luck to u..
  • #248,200
  • Aug 24, 2010 7:30am Aug 24, 2010 7:30am
  •  samirb
  • | Joined Nov 2009 | Status: Investing is simple, but not easy. | 247 Posts
Good day to everyone,
possible inverted head and shoulder

Good luck everyone
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