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Cable Update (GBPUSD)

  • #275,201
  • Apr 1, 2011 7:24am Apr 1, 2011 7:24am
Quoting ams
Once in the trade, hope for the best and leave the rest!!
Apart from putting a valid SL nothing can be done, so let's see. I have doubt that BANKS will do exact opposite of what we think should happen. Well, we will have the usual spikes for sure :-)


ta
ams

if she rises to 1.6100 area im selling..monthly for me is good enough
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  • #275,202
  • Apr 1, 2011 7:26am Apr 1, 2011 7:26am
So then why are you in if you agree your TP will never be reached :o ?

I'm new here and eager to learn!
  • #275,203
  • Apr 1, 2011 7:26am Apr 1, 2011 7:26am
In anticipation of Friday’s monthly jobs report the market was very quiet Thursday. It was so slow that it registered as an inside day, which means today’s high and low prices were “inside” the prior day’s high and low prices. The consensus for the jobs data is to see a 200,000 gain.

We’re so very lucky that the Federal Reserve only needs to be concerned with job growth and not inflation. As the Fed constantly says, there is no inflation. Now, if the Fed broke it down into overall wage-push inflation versus commodity inflation we may see eye-to-eye; however, the Fed refuses to agree to any inflation whatsoever. Even rising food and energy costs are dismissed as irrelevant - but not much longer I’m sure.

Brent crude oil traded over $120 per barrel today, while light sweet crude at the NYMEX nearly reached $107.00. Additionally, corn and other commodities traded limit-up. Yup, no inflation there…at all – right Bernanke?

One man who disagrees (although there are many) is the CEO of Wal-Mart. In an interview with USA Today we read…

The world's largest retailer is working with suppliers to minimize the effect of cost increases and believes its low-cost business model will position it better than its competitors.

Still, inflation is "going to be serious," Wal-Mart U.S. CEO Bill Simon said during a meeting with USA TODAY's editorial board. "We're seeing cost increases starting to come through at a pretty rapid rate."

Along with steep increases in raw material costs, John Long, a retail strategist at Kurt Salmon, says labor costs in China and fuel costs for transportation are weighing heavily on retailers. He predicts prices will start increasing at all retailers in June.

"Every single retailer has and is paying more for the items they sell, and retailers will be passing some of these costs along," Long says. "Except for fuel costs, U.S. consumers haven't seen much in the way of inflation for almost a decade, so a broad-based increase in prices will be unprecedented in recent memory."

Consumer prices — or the consumer price index — rose 0.5% in February, the most since mid-2009, largely because of surging food and gasoline prices. Core inflation, which excludes volatile food and energy costs, rose a more modest 0.2%, though that still exceeded estimates.

Surprisingly, a few Fed-heads - Charles Plosser of Philadelphia and Richard Fisher of Dallas - have expressed concerns about inflation and suggested they would favor raising rates in the near future. With today’s comments, Narayana Kocherlakota makes three. The latter Fed member suggested that the Fed may need to raise interest rates to 0.75% in late 2011 and last I checked, that’s this year.
  • #275,204
  • Apr 1, 2011 7:26am Apr 1, 2011 7:26am
Quoting Mautje
Ok so if it won't reach my TP.. that's not that bad is it? You could always close with a market order? And then the spread will be bigger so you'd be way off or with this news slip but you'd still be in profit though wouldn't you.. ?
A straddle then. It goes long you close your short, seconds later it goes short your out of pocket or the other way around it doesn't matter.

Let the market swing wildly, when it stops swinging put a fib on the major movement and put a short/long on the retrace.
  • #275,205
  • Apr 1, 2011 7:27am Apr 1, 2011 7:27am
GU go up up up longggg
  • #275,206
  • Apr 1, 2011 7:31am Apr 1, 2011 7:31am
Quoting Mautje
So then why are you in if you agree your TP will never be reached :o ?

I'm new here and eager to learn!
Did you read the article? Who said I was in? I am standing on the sidelines as I have no long-term trades on cable.

Navin2007 is a long-term trader, so news does not affect his trading!
  • #275,207
  • Apr 1, 2011 7:33am Apr 1, 2011 7:33am
Quoting bbakker
Did you read the article? Who said I was in? I am standing on the sidelines as I have no long-term trades on cable.

Navin2007 is a long-term trader, so news does not affect his trading!
Great article bbaker.
THanks
  • #275,208
  • Apr 1, 2011 7:34am Apr 1, 2011 7:34am
Quoting bbakker
Did you read the article? Who said I was in? I am standing on the sidelines as I have no long-term trades on cable.

Navin2007 is a long-term trader, so news does not affect his trading!
u know me too well my friend
ams enjoy it bro!! ..
  • #275,209
  • Apr 1, 2011 7:36am Apr 1, 2011 7:36am
I guess I owe nAVIN as many drinks as he can take
  • #275,210
  • Apr 1, 2011 7:38am Apr 1, 2011 7:38am
Quoting redbeben
I guess I owe nAVIN as many drinks as he can take
i wish there was a spike up thou..damnit
  • #275,211
  • Apr 1, 2011 7:40am Apr 1, 2011 7:40am
Quoting ndsouz
Modify Order again. SL - 1.5979

Possibilities
If NFP make a spike down to 1.6000 and goes up.
If the NFP breakout downside below 1.6000 and to my stoploss.
If NFP breakout Upside above 1.6080 ... will keep it running till TP hit.

If loss = -60 pip = -24,000USD
If profit = +200 pip = +80,000USD

Decision is final now.. no more modification in Stoploss. Keeping fingers crossed. Goodluck to all!
Must be sweating like a pig now! He put it all on black and it came in as red!
  • #275,212
  • Apr 1, 2011 7:41am Apr 1, 2011 7:41am
id5: Ok I see, what you're saying is these news releases make the swings erratic. Then I understand why it's not smart to trade here.

Bakker: Sorry I didn't mean you, I meant nAvin. I should specify it more I see LT trading is the "smarter" thing to do here.

I quickly read the article, I'm going to read it more indepth later.

Thanks everyone for your help!
  • #275,213
  • Apr 1, 2011 7:41am Apr 1, 2011 7:41am
here you all are ! long 15990 SL 15970
  • #275,214
  • Apr 1, 2011 7:42am Apr 1, 2011 7:42am
time to enjoy this one now..i wish i had the extra position still but i thought it might spike up and id get a beter price..oh well
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  • #275,215
  • Apr 1, 2011 7:45am Apr 1, 2011 7:45am
Quoting bbakker
Must be sweating like a pig now! He put it all on black and it came in as red!
he will be
  • #275,216
  • Apr 1, 2011 7:50am Apr 1, 2011 7:50am
Quoting bbakker
Must be sweating like a pig now! He put it all on black and it came in as red!
*THE GREAT GAMBLER*
  • #275,217
  • Apr 1, 2011 7:51am Apr 1, 2011 7:51am
Quoting Mautje
id5: Ok I see, what you're saying is these news releases make the swings erratic. Then I understand why it's not smart to trade here.

Bakker: Sorry I didn't mean you, I meant nAvin. I should specify it more I see LT trading is the "smarter" thing to do here.

I quickly read the article, I'm going to read it more indepth later.

Thanks everyone for your help!
i have been trading quite a while and trading the way i do is quite aggressive its easier in one way..but can also finish u off!!!

just because this went right means nothing..u only as good as your last trade..
  • #275,218
  • Apr 1, 2011 7:52am Apr 1, 2011 7:52am
Quoting chazzle
here you all are ! long 15990 SL 15970
Close 16002 Round Number Defence Force ... retreat retreat
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  • #275,219
  • Apr 1, 2011 7:52am Apr 1, 2011 7:52am
[quote=Mautje;4515409]id5: Ok I see, what you're saying is these news releases make the swings erratic. Then I understand why it's not smart to trade here.
quote]
Now let's see if it has any legs for the retrace
  • #275,220
  • Apr 1, 2011 8:00am Apr 1, 2011 8:00am
Short the fity or round number defence?
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