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Cable Update (GBPUSD)

  • #250,701
  • Sep 2, 2010 11:26am Sep 2, 2010 11:26am
As it is all a bit quiet here, I am going to wander completely O/T.

I think a few posters here are Canadian? I am thinking about a trip to Vancouver next year. Any tips on places to stay etc?

Please feel free to PM me if you don;t want to clutter up the board!

Thanks!
  • #250,702
  • Sep 2, 2010 11:28am Sep 2, 2010 11:28am
Just looking at unemployment figures on its own does not tell the whole story, the labour pool in the US has been growing by 1% a year over the last 4 decades, so on a labour pool of 150million, there are 125,000 people per month added to the labour pool naturally, so as long as the monthly figures don't increase by more then 125,000, which they really haven't this year, there is actually no increase in unemployment figures when weighted to the growth of the population, so the argument of a jobless recovery does not hold water.

There are jobs being created even though the unemployment numbers are rising, there is the population growth and the temporary workers that are excluded from the reports.

And to finish it of, we only hear what they want us to hear.
  • #250,703
  • Sep 2, 2010 11:28am Sep 2, 2010 11:28am
Quoting Astroman
Get out of here.

I was born in Milwaukee and most of my family still lives there as well as Chicago.


Cool! Their main place is in Palatine and their weekend house in the land of the cheesehead is at Lake Beulah! Happy days!
  • #250,704
  • Sep 2, 2010 11:29am Sep 2, 2010 11:29am
Quoting bbmac
I think that all our fundamental analysis is flawed and imperfect because the world is flawed and imperfect-there is perhaps a correlation there !! I'll leave that to the sociologists to figure out....
I couldn't agree with you more.

My honest answer to Navin's question would've been "I haven't got a clue". But for the sake of discussion on this thread, I shared my gut feeling - which means nothing to the market.
  • #250,705
  • Sep 2, 2010 11:30am Sep 2, 2010 11:30am
I get scared trading this pair but when I go back and look over my trades I have done well on this Pair. Oddly I am still scared to pull thr trigger on this one.
  • #250,706
  • Sep 2, 2010 11:30am Sep 2, 2010 11:30am
Quoting gammase1
I couldn't agree with you more.

My honest answer to Navin's question would've been "I haven't got a clue". But for the sake of discussion on this thread, I shared my gut feeling - which means nothing to the market.
Long term fundies are the realm of economists, I totally agree with you, my fundie outlook rarely gets beyond a week at a stretch.
  • #250,707
  • Sep 2, 2010 11:33am Sep 2, 2010 11:33am
Quoting Delite
Cool! Their main place is in Palatine and their weekend house in the land of the cheesehead is at Lake Beulah! Happy days!
Thanks!

Happy days to you and yours as well.

  • #250,708
  • Sep 2, 2010 11:38am Sep 2, 2010 11:38am
Yep, I do try to take into account fundamentals, but try to allow technicals to lead the way on the charts. Let's face it, markets have normally reacted to fundamentals long before we get the chance to.

Daily news on FF, for example, does not grip me that much - as some may already know - and one can often see the moves of preparation on the charts before the release. I try to appreciate longer-term news directions, for want of a better explanation, in order to appreciate possible levels several weeks to several months into the future.

But as has been said, this is subjection - which while being fun sometimes - should not be the sole determination of long-term strategy.

Quoting bbmac
I think that all our fundamental analysis is flawed and imperfect because the world is flawed and imperfect-there is perhaps a correlation there !! I'll leave that to the sociologists to figure out....
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #250,709
  • Sep 2, 2010 11:44am Sep 2, 2010 11:44am
very stressful day for me today..
i cant get got entry today..
just made 1 entry today..
on ucaf..got 30pips..
damm..if market like this..
how to pay a bill...
i not good at sclaping..
Revesal Trader
  • #250,710
  • Sep 2, 2010 11:47am Sep 2, 2010 11:47am
Quoting mygoldenpips
very stressful day for me today..
i cant get got entry today..
just made 1 entry today..
on ucaf..got 30pips..
damm..if market like this..
how to pay a bill...
i not good at sclaping..
NFP tomorrow mango...

Watch for the market to stabilize a little more next week. Still lotsa money to be made on the trends. Take it slow, take it EZ and wait for your entries.

One last week without the pros and regular trading will resume, what isn't set by early on next week, will most surely be over the next 2.

Good luck into the close of week.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #250,711
  • Sep 2, 2010 11:50am Sep 2, 2010 11:50am
Quoting gammase1
and, to a certain extent, a leading one, that has some predictive qualities.

Hope your personal situation turns out well.
It is only a leading indicator when an economy is entering a recession.

Thank you for your encouragement and I hope the same to you.
  • #250,712
  • Sep 2, 2010 11:53am Sep 2, 2010 11:53am
Quoting Magix
NFP tomorrow mango...

Watch for the market to stabilize a little more next week. Still lotsa money to be made on the trends. Take it slow, take it EZ and wait for your entries.

One last week without the pros and regular trading will resume, what isn't set by early on next week, will most surely be over the next 2.

Good luck into the close of week.
okay boss...
just feel painful watching market like this..
but been flat is also a good trade..
will watch for other hour or two..
if still no movement..
i off..turn off pc and goes to bed..
and huge my lonely wife...

green pips to u all the way...
Revesal Trader
  • #250,713
  • Sep 2, 2010 11:53am Sep 2, 2010 11:53am
For those trading energy stocks, ETF's or oil, an oil rig just blew up in the GOM again. Don't know the owner/operator yet.
  • #250,714
  • Sep 2, 2010 11:55am Sep 2, 2010 11:55am
Quoting cloggie
For those trading energy stocks and ETF's, an oil rig just blew up in the GOM again. Don't know the owner/operator yet.

Quick google search, "Mariner Energy" is the owner and apparantly it was not producing yet.

It is another deep rig, don't expect oil prices to stop rising then.
  • #250,715
  • Sep 2, 2010 12:03pm Sep 2, 2010 12:03pm
Quoting cloggie
Quick google search, "Mariner Energy" is the owner and apparantly it was not producing yet.

It is another deep rig, don't expect oil prices to stop rising then.
Ah only 300 feet of water , no leaks as of yet is the latest I heard, was just a maintinence rig , wasent drilling a well , just maintaining lol, so shouldnt be a chance of anything like the last one but the day is young .
  • #250,716
  • Sep 2, 2010 12:11pm Sep 2, 2010 12:11pm
Quoting digger1
Ah only 300 feet of water , no leaks as of yet is the latest I heard, was just a maintinence rig , wasent drilling a well , just maintaining lol, so shouldnt be a chance of anything like the last one but the day is young .

From a trading point of view, don't really care whether the darn thing leaks or not (I do actually, but don't want to come over all softy-softy you know). Obamarama will surely revisit the mortuarium again now.

Without deeprig the GOM is pretty much dry. Safe the fishies and kick a couple of million people out on the street instead...... tough call.
  • #250,717
  • Sep 2, 2010 12:14pm Sep 2, 2010 12:14pm
Hey Cloggie,

Any chance of you dropping some of your capital to drive this thing down !!

I only need to reach 1.5350
  • #250,718
  • Sep 2, 2010 12:18pm Sep 2, 2010 12:18pm
Quoting Dayboy001
Hey Cloggie,

Any chance of you dropping some of your capital to drive this thing down !!

I only need to reach 1.5350

Don't tell me you shorted 2 pips above major support on the H4? We could well see another slow corkscrew test of the low here.

Do I really want to take a trade that could take a few hours to move 20 pips, not really, there are better uses for my capital. I like the 60-100 pip runs that start at the LO and finish about lunch time so it can consolidate nicely and give us a return leg.
  • #250,719
  • Sep 2, 2010 12:19pm Sep 2, 2010 12:19pm
Quoting Dayboy001
Short@ 1.5400
TP 1.5350
SL 1.5420
In profit at moment, just fed up with slow PA
  • #250,720
  • Sep 2, 2010 12:21pm Sep 2, 2010 12:21pm
Quoting Dayboy001
In profit at moment, just fed up with slow PA

That makes a bit more sense. Just watch the PA carefully once she gets back to the H4 support, she could well bounce of it like a wet cat of an electric fence for the second time today.
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