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Cable Update (GBPUSD)

  • #250,021
  • Aug 31, 2010 6:26am Aug 31, 2010 6:26am
the other pairs are really moving
  • #250,022
  • Aug 31, 2010 6:28am Aug 31, 2010 6:28am
Quoting GlobalMacro
USDX is only 11.9% GBP...

something to think about!
Hey GM,

Care to elaborate on the rest? if USD is just 11.9% what makes up the rest. Thanks for sharing your knowledge mate...
@pawpaw1000 on Twitter
  • #250,023
  • Aug 31, 2010 6:29am Aug 31, 2010 6:29am
Quoting autopips
Then how come I look so old and tired? My eyes are square shaped, like the monitor they are forced to stare at, and I have a permanent crease in my forehead from frowning while I squint at the same square inch of the screen showing the GBPUSD price. In the night I see little flashes of green and red in my dreams.

I prefer going for a run to keep the heart rate up, at least you feel better afterwards.

She's making another downward attempt, nerves are jangling, back to squinting at the price...
lol, its only money man , they are printing lots of it everywhere right now ha ha
  • #250,024
  • Aug 31, 2010 6:31am Aug 31, 2010 6:31am
Quoting autopips
Personally I'm only looking for about 1.5480, on the basis that I see a completed Elliott Wave 5-down and the A & B waves of the ABC correction. Provided price does not break 1.5395, I'll stay in. I'm probably completely full of sh*t, but it won't hurt much if I am. It felt like a reasonable gamble to take.
Brilliant. No sooner had I written it, the market proves it to me. This ain't what's happening. Out for a rest then.
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #250,025
  • Aug 31, 2010 6:33am Aug 31, 2010 6:33am
Quoting pawpaw1000
Hey GM,

Care to elaborate on the rest? if USD is just 11.9% what makes up the rest. Thanks for sharing your knowledge mate...
DIX is made up from a basket of the following currencies -
EUR, JPY, GBP, CAD, CHF and SEK

Swedish Krona is historical and someone from Sweden did tell me why this currency is in there, but I cannot remember now.

http://www.babypips.com/school/the_usdx_components.html
  • #250,026
  • Aug 31, 2010 6:34am Aug 31, 2010 6:34am
Quoting pawpaw1000
Hey GM,

Care to elaborate on the rest? if USD is just 11.9% what makes up the rest. Thanks for sharing your knowledge mate...
Here you go, Pawpaw:


EUR 57.6%

JPY 13.6%

GBP 11.9%

CAD 9.1%

SEK 4.2%

CHF 3.6%
Hear the music before the song is over ...
  • #250,027
  • Aug 31, 2010 6:35am Aug 31, 2010 6:35am
I should have kept my short open - it's moving further south again - Oh well!

Isn't that always the way!................be glad when I can read these chart patterns more consistantly, like you guys n gals do!

At least I managed small profit with no losses today.
  • #250,028
  • Aug 31, 2010 6:35am Aug 31, 2010 6:35am
Quoting bbakker
DIX is made up from a basket of the following currencies -
EUR, JPY, GBP, CAD, CHF and SEK

Swedish Krona is historical and someone from Sweden did tell me why this currency is in there, but I cannot remember now.

http://www.babypips.com/school/the_usdx_components.html
AAh, yes, I know this but I thought he was saying that the USDINX only has about 11.9% effect on GU?

Thanks though BB...
@pawpaw1000 on Twitter
  • #250,029
  • Aug 31, 2010 6:36am Aug 31, 2010 6:36am
Je kan het best verkeerd hebben.

A stoploss is terminal, a guaranteed loss.

If you hedge a losing trade it will give you a chance to evaluate the situation. You can always decide to take the loss later on.

If the move against you is strong enough you can increase the hedge to say 1.5 or 2 times the original lotsize and monitor the two trades as an entity for BE or even a small profit. A simple EA will do the trick for you.

It works with patience and of course you need a broker that will allow hedging.

Quoting bbakker
Having no stop loss or moving your stops is one of the most dangerous things a trader can do so then why do so many of them do it? It’s because of one of two reasons. Either its because they are so fearful of taking a loss that they keeping moving the stop back in the hopes that the market will turn and they can get out at breakeven, or its because they are so sure in their ability to predict the market that they move their stop because they just know that if they give the trade enough time eventually it will work out. Unfortunately 99% of the time...
  • #250,030
  • Aug 31, 2010 6:37am Aug 31, 2010 6:37am
Quoting GlobalMacro
Here you go, Pawpaw:


EUR 57.6%

JPY 13.6%

GBP 11.9%

CAD 9.1%

SEK 4.2%

CHF 3.6%
So then it would actually be better to watch fibre for correlation than USDINX?

mmm... food for thought...

PS A h1 close below 5385 would be a pretty good signal that we have broken range and heading down to 5300 and later 5210...
@pawpaw1000 on Twitter
  • #250,031
  • Aug 31, 2010 6:39am Aug 31, 2010 6:39am
I see a lot of people going long but I dont see longs. I could be missing something tho.

It seems very possible to test the h4 yellow LTL.
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 116 KB
  • #250,032
  • Aug 31, 2010 6:39am Aug 31, 2010 6:39am
Good day.. after several months just watching from outside...
finally... jump in as a member...
short @ 1.5401 tp 1.5341 sl 1.5428
wish me luck...
  • #250,033
  • Aug 31, 2010 6:40am Aug 31, 2010 6:40am
Quoting pawpaw1000
So then it would actually be better to watch fibre for correlation than USDINX?

mmm... food for thought...

PS A h1 close below 5385 would be a pretty good signal that we have broken range and heading down to 5300 and later 5210...
That's exactly right...
Hear the music before the song is over ...
  • #250,034
  • Aug 31, 2010 6:43am Aug 31, 2010 6:43am
Quoting GlobalMacro
That's exactly right...
Well, on that note, I'm still not convinced that we going down today yet. This could be a fake like the same level last week...

Fibre has been moving up and is now bouncing off m15 25ma...
@pawpaw1000 on Twitter
  • #250,035
  • Aug 31, 2010 6:43am Aug 31, 2010 6:43am
Quoting Alexbabwa
I have been short from 437 for a while now. Stop above the trend line currently at 445. Looking for new lows unless negative US data comes later
Out at 370 for +67 pips. Now looking for long position in low 300's if it happens around the same time as negative us data at 2pm
  • #250,036
  • Aug 31, 2010 6:44am Aug 31, 2010 6:44am
Quoting GlobalMacro
Ermmm,

Nice to meet your nieces.... . I thought I would also just balance the scales with something for the ladies...

What! What is wrong?

Regards
Attached Image
  • #250,037
  • Aug 31, 2010 6:45am Aug 31, 2010 6:45am
Quoting pawpaw1000
Well, on that note, I'm still not convinced that we going down today yet. This could be a fake like the same level last week...

Fibre has been moving up and is now bouncing off m15 25ma...
the steam roller already on the move...

for correlation watch fiber & usdx only.
Hear the music before the song is over ...
  • #250,038
  • Aug 31, 2010 6:49am Aug 31, 2010 6:49am
Quoting TauTrader
Ermmm,

Nice to meet your nieces.... . I thought I would also just balance the scales with something for the ladies...

What! What is wrong?

Regards
Here's one for those of us who like them Beeg and Sexxxy...
Attached Image
@pawpaw1000 on Twitter
  • #250,039
  • Aug 31, 2010 6:50am Aug 31, 2010 6:50am
Quoting TauTrader
Ermmm,

Nice to meet your nieces.... . I thought I would also just balance the scales with something for the ladies...

What! What is wrong?

Regards
Jeez...is there any way to censor this.......(maybe post it in the ladies room or something)

Now my appetite is ruined for the rest of the day...

quick post something cute before I starve today....
Hear the music before the song is over ...
  • #250,040
  • Aug 31, 2010 6:51am Aug 31, 2010 6:51am
Quoting ikdenk
Je kan het best verkeerd hebben.

A stoploss is terminal, a guaranteed loss.

If you hedge a losing trade it will give you a chance to evaluate the situation. You can always decide to take the loss later on.

If the move against you is strong enough you can increase the hedge to say 1.5 or 2 times the original lotsize and monitor the two trades as an entity for BE or even a small profit. A simple EA will do the trick for you.

It works with patience and of course you need a broker that will allow hedging.
Voor mij heb ik het niet verkeerd.

I don't do hedging for the following personal reasons -

1. My broker does not allow it
2. Hedging shows indecision
3. Hedging is a strategy that does not suit my trading style
4. My trading style expects losses and I will gladly take losses. It is part of my trading plan.

I am not afraid to lose money on Forex as my TP targets ensure that I have a minimum of 3:1 as a 1st target.

Just closed my second runner (short since Sunday open) on AUDUSD which has given me an 8:1 reward/risk ratio. My final runner will have a trailing stop ensuring that my R/R on this trade can only get bigger now.

Therefore, I could have 8 losing trades now and still be up. It is all in the maths of trading without having to resort to hedging.

If hedging is in your plan and you hedge on a consistent basis using pre-defined parameters which makes you successful, then I cannot argue with you.

Veel succes met jouw trading
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