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Cable Update (GBPUSD)

  • #249,201
  • Aug 27, 2010 4:29am Aug 27, 2010 4:29am
Quoting Delite
Morning Adrian. Do you have time to quickly explain this?

Well done on your 5 minute trade!
Thanks Delite

A quick summary of the 'Knee-Jerk' effect:

At the time of the updates the price movement for the first few seconds or so (sometimes slightly longer) tends to travel in one direction and then almost immediately reverses and goes in the true direction of the update.

It is best too view this on the 1 minute - 5 minute charts. It does however take a little practice to get it more often correct than not so, but after a while and if 'not too greedy' it is possible to get anywhere from say +10 to +50 pips profit. I like to let this run for the first 5 minutes or until it reaches the first fake back......

I'm sure if and when Cloggie gets here he can better explain this, but this is how I have managed to get what I have thus far from these 'knee-jerk effects.

Hope this helps.
  • #249,202
  • Aug 27, 2010 4:32am Aug 27, 2010 4:32am
Quoting bbakker
Looks like it got filled this time round looking at my iPhone4 Forex app.

I personally have to create orders and without having a MT4 feed at work, there is not a lot I can do at work once I have placed the order. I can't fiddle with it, I can't make changes to it. I planned the trade and now hopefully the trade will go to plan. This is actually a positive thing as in the past I have often made changes during the actual trade and so therefore I was not sticking to any plan. Not having access to my trading account at work means that I cannot do...
TP1 in the bag for a small profit and the other two runners are now free trades. SL stays at 1.5623 as there are plenty of sellers left in the 1.5618-1.5590 supply area, it we do go back up again. No need for me to move SL to BE.

I did change TP2 to 1.5410 last night. No new trades for me today. North, South or East, I can't lose whichever direction cable decides to go, but a trip South would be a nice Brucey Bonus!

Wish you all success in whichever direction you are going with your trade. Have a great weekend too!
  • #249,203
  • Aug 27, 2010 4:40am Aug 27, 2010 4:40am
Quoting Execute
It is hard to tell just how you are trading and I believe it is going well for you. If you post in $ amounts you must post what size account and how large the positions are. It would be easy to get that amount if you were trading 10 standard lots but it does not help us when we are looking a pips. No offense but it skews the data.
Take care.

Hiya Execute

See my previous post for the 'knee-jerk effect' trading that I do for the 'RED updates' only.....

So far as my normal trading is concerned I do Correlation trades using USD/CHF, EUR/USD and GBP/USD which is what I was taught to do, I also utilize corresponding news/update information as and where I can. This is the main reason I do not worry about whether the pound goes up or down. And yes it is successful for me in at least 80% of my trades.

For your information I use for the 'knee-jerk effect trading and a micro account which has a trading balance of $500.00 So no I don't have it easy... But still manage to make a good return on it for the various charities I help. As and when funds permit I will increase this trading balance and in that way will be able to help more charities.

Hope this helps.
  • #249,204
  • Aug 27, 2010 4:42am Aug 27, 2010 4:42am
Quoting Vegapunk

Hai sorry for busting in

i got breaking news


GU/EU is going south !!!

oh boy how far please let me know so i can sell
  • #249,205
  • Aug 27, 2010 4:43am Aug 27, 2010 4:43am
Quoting AdrianHNV
Hiya Execute

See my previous post for the 'knee-jerk effect' trading that I do for the 'RED updates' only.....

So far as my normal trading is concerned I do Correlation trades using USD/CHF, EUR/USD and GBP/USD which is what I was taught to do, I also utilize corresponding news/update information as and where I can. This is the main reason I do not worry about whether the pound goes up or down. And yes it is successful for me in at least 80% of my trades.

For your information I use for the 'knee-jerk effect trading and a micro account which...
Was not questioning you expertise but was trying to keep a perspective as how you got to the dollar amount. Keep up the good work.
  • #249,206
  • Aug 27, 2010 4:47am Aug 27, 2010 4:47am
There are strong bullish supports
Attached Image (click to enlarge)
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  • #249,207
  • Aug 27, 2010 4:51am Aug 27, 2010 4:51am
Browse > Home / All, Europe, Mkt News, Mkt Talk, Regions, orders / Some month end scuttlebutt….
http://www.gravatar.com/avatar/c336b...6%3Fs%3D60&r=R
Some month end scuttlebutt….

By Gerry Davies || August 27, 2010 at 09:28 GMT
|| 1 comment || Add comment
Oh how I hate month end flow stuff, but here we go.
Been told big US bank has put out month end rebalancing info. They expect dollar buying with very strong signals for EUR/USD and GBP/USD.
UPDATE: UK clearer has been notable seller of cable in recent trade. We’ve slipped below 1.5500, presently at 1.5496.
  • #249,208
  • Aug 27, 2010 4:53am Aug 27, 2010 4:53am
there are a strong bullish support
Attached Image (click to enlarge)
Click to Enlarge Name: cable27ago2010.png Size: 48 KB
  • #249,209
  • Aug 27, 2010 4:55am Aug 27, 2010 4:55am
Quoting Execute
Browse > Home / All, Europe, [url="http://www.forexlive.com/category/mkt-news"]Mkt...
Forgive my ignorance, but if this happens will it be this afternoon?
  • #249,210
  • Aug 27, 2010 4:56am Aug 27, 2010 4:56am
Quoting fxoxford
oh boy how far please let me know so i can sell
As far as i can see its going to worlds end
Peace And Quite Is Utterly Malapropos Of My Departure . . .
  • #249,211
  • Aug 27, 2010 4:56am Aug 27, 2010 4:56am
Adrian

Thanks for the knee jerk info. Will watch the M1 at 1.30!
  • #249,212
  • Aug 27, 2010 4:57am Aug 27, 2010 4:57am
Quoting Execute
Was not questioning you expertise but was trying to keep a perspective as how you got to the dollar amount. Keep up the good work.
My apologies Execute for sounding the way I did......

Am certainly no expert, just enjoy learning and doing what I can.

Dollar amount: Well as stated I use a running balance of $500 with a 50 - 50 spread. Traded on a 50 to 1 micro account.
Calculation for pip value is 5% of account balance divided by 20 = pip $ value.

So for example from the starting balance of $500 pip value would have been $1.25 per pip. I increase the pip value after each of the 'Red-Update positive pip profit trades' at the end of each month subtract the starting balance of $500 and continue with this the following month.

This is the mathematics of the system I use for this account.

Hope this helps.

Again sorry for sounding rude.
  • #249,213
  • Aug 27, 2010 4:59am Aug 27, 2010 4:59am
Quoting Vegapunk
As far as i can see its going to worlds end
so i should sell now with t/p at 0.0000, this is great, i will go all out i look forward to this, how long will this take
  • #249,214
  • Aug 27, 2010 4:59am Aug 27, 2010 4:59am
Trading news can kill account in short time.
Stop could not be respected... it happen.

Rather focus on the quick shot, it's better to develop a method for usual trading.
If you are allredy in a trade it make sens.
But enter just after or even just before, is pure gambling and wont be profitable in long run.

I saw some news making a strike 200 pips, even 500 on FED statement.
So the kee-jerk pattern can work once in a while.
But the one that wont will hurt more then all profit you did accumulate before.

This is just my opinion over time.

Quoting AdrianHNV
So for example from the starting balance of $500 pip value would have been $1.25 per pip. I increase the pip value after each of the 'Red-Update positive pip profit trades' at the end of each month subtract the starting balance of $500 and continue with this the following month.
Very good attitude I think!
Some for you, some for the next trade.

I use 50/50.
50% for me, 50% for next compounding.




Take care!
"Flip that coin!"
  • #249,215
  • Aug 27, 2010 5:00am Aug 27, 2010 5:00am
Quoting Delite
Adrian

Thanks for the knee jerk info. Will watch the M1 at 1.30!
Your very welcome Delite.
  • #249,216
  • Aug 27, 2010 5:02am Aug 27, 2010 5:02am
Quoting Delite
Forgive my ignorance, but if this happens will it be this afternoon?
Only says month end it may bee the 30th or 31st the exact date was not specified. It is only a caution trade your plan but do not plan on rumors.
Just be careful for we do not know which way they want to re-balance it would cause more volatility though. Just caution
  • #249,217
  • Aug 27, 2010 5:03am Aug 27, 2010 5:03am
Quoting fxoxford
update on this trade, close have my position at 1.5578, still holding long at 1.5390, s/l at BE, t/p still at 1.5715 at the moment.
still holding half my position at 1.5390, don't think my t/p at 1.5715 will get hit, but looking to break 1.5600 area i hope, only a fool will go short, good luck to all
  • #249,218
  • Aug 27, 2010 5:05am Aug 27, 2010 5:05am
Quoting AdrianHNV
My apologies...
You were able to be 3x amount of the account in a month that is great. happy trading.
  • #249,219
  • Aug 27, 2010 5:06am Aug 27, 2010 5:06am
Quoting Scipionz
Trading news can kill account in short time.
Stop could not be respected... it happen.

Rather focus on the quick shot, it better to develop a method for usual trading.
If you are allredy in a trade it make sens. But enter just after or even just before, is pure gambling and wont be profitable in long run.

I saw some news making a strike 200 pips, even 500 on FED statement.
So the kee-jerk pattern can work once in a while, the one that he wont will hurt more then all profit you did accumulate before.

This is just my opinion over time.

Take...
Yes it does have to be respected for what it is and yes the spread has to be well thought out and adhered too, but I have thus far been very successful with it for what it is used for. I'm sure in time a certain skill' for the 'knee-jerk effect' trades can be gained. Also I only every use this method for the 'Red-Updates', which I have found to give the best results therein.

I'm not sure that everyone would or should participate in this kind of trading, but was asked what it was and how it worked for me, so was 'happy too share the information I have so far garnished........

But yes it does need to be tackled carefully I agree how heartedly.
  • #249,220
  • Aug 27, 2010 5:06am Aug 27, 2010 5:06am
Quoting fxoxford
only a fool will go short, good luck to all

That's what you said last night to me when I was just about the only one shorting this, and guess what I was also just about the only one who made any money. 't Was only a measly 50 pips though.

Quoting fxoxford
where just have to see where we at by tommorow. good luck
All fun and games.
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