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Cable Update (GBPUSD)

  • #311,041
  • May 2, 2012 6:54pm May 2, 2012 6:54pm
inverse head and shoulder on gbpchf daily http://www.smileygarden.de/smilie/Tiere/90.gif

short or long http://www.smileygarden.de/smilie/Fragend/18.gif
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.JPG Size: 42 KB
  • #311,042
  • May 2, 2012 7:06pm May 2, 2012 7:06pm
The daily upper wedge line on the GU has been clearly broken and may act as support. Internet went down before heading to work but not hard to spot. I think someone showed it yesterday on a 4hr chart.
Come with me if you want to live....
  • #311,043
  • May 2, 2012 7:09pm May 2, 2012 7:09pm
Quoting gvninvest
Anyone who lives in US, can you recommend broker(hedge & meta available),
cus one i'm using no more accept US citizen.

Few here at FF will like my answer, but it is sincere. I trade with OANDA - they now have MT4 AND they pay interest on carry trades and your balance.

That's how I make make money in forex - I put on carry trades and earn interest... far less stressful than trying to figure out which way the market is going and IT WORKS!

I've tried various systems over the years..and I've concluded I can't predict the market, technical analysis doesn't work - but carry trades DO!

Now, "experts" like "cloggie" will disagree, but I don't give a damn - I make money on my carry trades everyday -- can they claim daily success? I doubt it....
  • #311,044
  • May 2, 2012 7:11pm May 2, 2012 7:11pm
Do you use leveraged positions for your carry trades?

Quoting mcmillan
Few here at FF will like my answer, but it is sincere. I trade with OANDA - they now have MT4 AND they pay interest on carry trades and your balance.

That's how I make make money in forex - I put on carry trades and earn interest... far less stressful than trying to figure out which way the market is going and IT WORKS!

I've tried various systems over the years..and I've concluded I can't predict the market, technical analysis doesn't work - but carry trades DO!

Now, "experts" like "cloggie" will disagree, but I don't give a damn - I make...
  • #311,045
  • May 2, 2012 7:14pm May 2, 2012 7:14pm
Quoting geniusztc
we meet some supports here ,and US time will gives result .
This chart can also show a bullishly broken wedge starting at 5232 on the daily chart. But we are also at extremes of price
Come with me if you want to live....
  • #311,046
  • May 2, 2012 7:18pm May 2, 2012 7:18pm
Quoting Ill-b-back
Hi Nav, if we don't see 63 again and you won't hedge because of cost, then I assume you won't start day trading if we head south? Is this assumption correct? If it is, why not take the small hit now since you have trades in profit and others in loss, close all out and get your trading life back bro? Must be frustrating surely.
i agree he should take the hit now unless he got strong evidence it gonna go in his fave
  • #311,047
  • May 2, 2012 7:22pm May 2, 2012 7:22pm
Quoting Helloguys
i domt have to use stop loss to all my trades. i have margin call for that. dont laugh cause it is clever.

when a position is wrong and i am close to margin call, if i believe that position i put more money to hold it. but i think better that time.

but my account is 1/10 of what my account could be.

and when i have profits i close my account and start again with 1/10 of my capital.

margin call is a tool better than stop loss. protects you from greed and have control of your capital from the first trade to the last one.
am i reading this right, you can't be serious
  • #311,048
  • May 2, 2012 7:22pm May 2, 2012 7:22pm
Quoting torkay77
http://www.smileygarden.de/gen/smile...f06bc065ef.png
http://www.easyfreesmileys.com/smile...ileys-1044.gif
  • #311,049
  • May 2, 2012 7:25pm May 2, 2012 7:25pm
Quoting Student
Do you use leveraged positions for your carry trades?
Student,

I use a small position - usually 2 micro-lots in various currency pairs to reduce risk. That's not much - but I have a small account ( $4000, but hey I started at $3000 ). When my account grows larger, I'll increase the size. But for now, I earn my few dollars a day, which I'm happy with. It's more than my bank pays...

Most traders don't appreciate the power of interest.
Since most of my carry trades are in "exotic" currencies, the leverage is 20:1. That's Oanda's rules ( really Frank-Dodds Act rules). But, that's Ok - I'd rather make a little than lose a lot.
  • #311,050
  • May 2, 2012 7:28pm May 2, 2012 7:28pm
Quoting PoundTrader
http://www.easyfreesmileys.com/smile...ileys-1044.gif
how on earth can we trade with all this going on , give me something to giggle at while massaging though
Come with me if you want to live....
  • #311,051
  • May 2, 2012 8:11pm May 2, 2012 8:11pm
Quoting A-speculator
hey mate.. apa khabar?

long time no see ah.. ahahaha

amacam trade? ada ok?

Ahhh sorry bro lambat aku reply komen ko ni..tak nmpak beb.

anyway trade dulu ada closed in red..tapi isnin lalu saya terlupa pulak saya ada open buy order..dah tutup dah..so far so good bro...sibuk baru2 ni pasal stress betul aku tengok bull ni...tapi nmpaknya top high mcm dah tested...he he he
I trade to live
  • #311,052
  • May 2, 2012 8:25pm May 2, 2012 8:25pm
Quoting PoundTrader
am i reading this right, you can't be serious
too many clever guys here.

i am serius and more profitfull than 90% of traders.

managing your account with margin call is one of the best strategies.

you said a quite good advice, i just said a much better advice.
There shall be no QE3
  • #311,053
  • May 2, 2012 8:44pm May 2, 2012 8:44pm
Quoting PoundTrader
Cut Your Losses Early, Let Your Profits Run

Countless trading books advise traders to do this. When your trade goes against you, close it out. Take the small loss and then try again later, if appropriate. It is better to take a small loss early than a big loss later. Conversely, when a trade is going well, do not be afraid to let it continue working. You may be able to gain more profits.

This may sound simple – “do more of what is working and less of what is not” – but it runs contrary to human nature. We want to be right....

Something missing in this post.....

No gif emoticon at all like u always include
I trade to live
  • #311,054
  • May 2, 2012 8:51pm May 2, 2012 8:51pm
Quoting UbuFamily
Something missing in this post.....

No gif emoticon at all like u always include
Nice to see you again bro
Come with me if you want to live....
  • #311,055
  • May 2, 2012 8:56pm May 2, 2012 8:56pm
Quoting Ill-b-back
Nice to see you again bro
Ahhh u spoted me again bro...how are u doing?
I trade to live
  • #311,056
  • May 2, 2012 9:04pm May 2, 2012 9:04pm
Quoting UbuFamily
Ahhh u spoted me again bro...how are u doing?
Good mate. Funny times right now, seems no one is serious about buying USD lately. I'd like to get a reversal so I can try out a robot I had made a few years back. It seems cable don't care about economics, she's on Red Bull and has wings.
Come with me if you want to live....
  • #311,057
  • May 2, 2012 9:21pm May 2, 2012 9:21pm
Quoting Ill-b-back
Good mate. Funny times right now, seems no one is serious about buying USD lately. I'd like to get a reversal so I can try out a robot I had made a few years back. It seems cable don't care about economics, she's on Red Bull and has wings.

Asian trade jpy pairs.if strength in gbpjpy it will move other gbp higher . the movements in gbp bull is due to gbp/Aud and eurgbp . the movements of usd strength mainly in eurusd and audusd . but good data for us is now aud rally as stock s&p move with audusd. anyway trade technical if already oversold. unlikely to sell further like ytd eurusd climbed back to 1.3160 after no further fundamental sell off. new York is always buying hours for carry trade.

today gbp likely to fall to 1.6080 from technical. unless good data to boost it to re test 1.6300 area
  • #311,058
  • May 2, 2012 10:04pm May 2, 2012 10:04pm
Good day to you,

The possible retrace expected cancelled itself - for now... good one bones - pivot did the interim job.

Regards

I am in no trade at the moment. Just woke up. Hope to get back on the bus.....
  • #311,059
  • May 2, 2012 10:47pm May 2, 2012 10:47pm
Quoting UbuFamily
Something missing in this post.....

No gif emoticon at all like u always include
http://www.easyfreesmileys.com/smile...mileys-746.gif
  • #311,060
  • May 2, 2012 10:58pm May 2, 2012 10:58pm
Good day to you,

The only little problem I see, is that Fiber has left his wallet on the bedside table of lady 1.3158 earlier. He's gonna have to go back to get it.

Should there be correlation - he may take GU with him for the short trip -but when will he realize that he is not able to pay for parking?

Regards
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