What Does Cable Mean?
Slang used among forex traders referring to the exchange rate between the U.S. dollar and the British pound sterling. Because it is the norm in forex for most major currencies to be quoted against the U.S. dollar on a regular basis, "cable" is a commonly used term.
"Cable" can also be used to refer simply to the British pound sterling.
The origins of this term are attributed to the fact that in the 1800s, the dollar/pound sterling exchange rate was transmitted via transatlantic cable. Forex brokers are sometimes referred to as "cable dealers".
Tatbat. learn to control emotions through several ways. like watching a movie, listening to music, stroll around the park nearby or even exercise. being patient is another key factor in forex... if you are confident of ur trade, just go for it and let it reach. if u tink that 5-10 pips is not worthwhile given the volatility, then take it. but no regret after that. move on to the next trade =)
btw, if i would have taken profit with my FA trading system, i would have exited eurusd @ 1.4317. but since the news coincide with the direction, im letting it run. +25 / 50 pips on eurusd and cable now =)
btw, if i would have taken profit with my FA trading system, i would have exited eurusd @ 1.4317. but since the news coincide with the direction, im letting it run. +25 / 50 pips on eurusd and cable now =)
sure hope gbpchf and eurjpy go up again, otherwise 'll have to pay for loss with eurusd and gbpusd. don't quite get why they were struck this hard while there's no direct usd involved. hope it's just chart painting and i will be able to close all in profit.
Trades based on Market Geometry and Price Action