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Cable Update (GBPUSD)

  • #327,501
  • Oct 19, 2012 5:45am Oct 19, 2012 5:45am
Quoting Raftron
As we speak, there are 61 people reading this thread and 191 people reading EUR/USD thread. This would make up quite big office (trading floor).

Chances are, we are being watched....
And I've seen times (not recently) when the market is really moving up to 300 people watching and over 200 of them members.

I quite agree
Ghost Rider - WWTBMD?
  • #327,502
  • Edited 5:51am Oct 19, 2012 5:45am | Edited 5:51am
But that theoretical ForexFactory All Stars 'trading floor' wouldn't last very long as I can almost guarantee that of all those 'traders' 10% or less will be in these threads in 2 years time. I can assure you to an almost certainty that ' no-one' (and by that i mean any institution/trader with big market moving margin) is watching these threads barring the entertainment value/curiosity lol !

G/L

Quoting Raftron
As we speak, there are 61 people reading this thread and 191 people reading EUR/USD thread. This would make up quite big office (trading floor).

Chances are, we are being watched....
ex member
  • #327,503
  • Oct 19, 2012 5:52am Oct 19, 2012 5:52am
yea 1.6050 is holding now.
there is no momentum in 15m chart.hope there will be a breakthrough downwards.
  • #327,504
  • Oct 19, 2012 5:52am Oct 19, 2012 5:52am
lol yea I agree

Quoting bbmac
But that theoretical ForexFactory All Stars 'trading floor' wouldn't last very long as I can almost guarantee that of all those 'traders' 10% or less will be in these threads in 2 years time. I can assure you to an almost certainty that ' no-one' (and by that i mean any institution/trader with big market moving margin) is watching these threads barring the entertainment value/curiosity lol !

G/L
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #327,505
  • Oct 19, 2012 5:54am Oct 19, 2012 5:54am
Quoting albchr
OK, so you are definitely looking at the nitty gritty down in the trenches.

How is it working for you overall?

I can't trade that low. Makes my head hurt...LOL

I'll take trades from down to the 15M and I'll only "watch" below that depending on market conditions at the time.

But for the most part, 15M to 4H give me my signals with daily and weekly leading the way.

Yeah, I am practically glued to the screen for 6-hours at a time. I do move my SL when price reaches 1.5x my risk toward breakeven. So that last trade I had I moved the stop and made 3 pips.

I actually just entered short again @ 1.6057, but still down 12 pips about.

I use a volatility stop (chandelier exit) which trails price. so its not always just a hard 10 pip stop.
  • #327,506
  • Oct 19, 2012 5:56am Oct 19, 2012 5:56am
Quoting bbmac
But that theoretical ForexFactory All Stars 'trading floor' wouldn't last very long as I can almost guarantee that of all those 'traders' 10% or less will be in these threads in 2 years time. I can assure you to an almost certainty that ' no-one' (and by that i mean any institution/trader with big market moving margin) is watching these threads barring the entertainment value/curiosity lol !

G/L
I can't disagree with that BB (and good morning BTW) but let me ask you your thoughts on this.

If ALL retail traders acted together, do you think there are enough to "move" the market in any significant way?

I ask because I've always "wondered" that if we could coordinate our efforts, we could.

Meaning if each "session" of traders acted together, we could have a true edge in the market. i.e. ... NY all go long, London all go short, Asia all go long and just keep rotating like that.
Ghost Rider - WWTBMD?
  • #327,507
  • Oct 19, 2012 6:01am Oct 19, 2012 6:01am
Quoting leveraged
Yeah, I am practically glued to the screen for 6-hours at a time. I do move my SL when price reaches 1.5x my risk toward breakeven. So that last trade I had I moved the stop and made 3 pips.

I actually just entered short again @ 1.6057, but still down 12 pips about.

I use a volatility stop (chandelier exit) which trails price. so its not always just a hard 10 pip stop.
I see. I also move my stops around as PA dictates. My "set" stops are only for emergencies like loosing broker connection or power or something. My "real" stops are in my head and I'll close when reached unless PA shows me it will only be by a few pips.

If I had a dollar for everytime my set stop was hit by just a pip or two, I wouldn't need to trade...LOL
Ghost Rider - WWTBMD?
  • #327,508
  • Oct 19, 2012 6:04am Oct 19, 2012 6:04am
Quoting albchr
I can't disagree with that BB (and good morning BTW) but let me ask you your thoughts on this.

If ALL retail traders acted together, do you think there are enough to "move" the market in any significant way?

I ask because I've always "wondered" that if we could coordinate our efforts, we could.

Meaning if each "session" of traders acted together, we could have a true edge in the market. i.e. ... NY all go long, London all go short, Asia all go long and just keep rotating like that.
I will add my two cents on this one.

I was asking myself similar question and then I thought, even though there are few hundreds of people watching this forum and trading actively, we are a drop in the ocean of thousands and thousands of the total of people who trade from home. I have no idea how many people trade in total but it must be dozens of thousands if not more. In the face of this, would our small group of circa 400-600 peoplebe able to make any difference?
  • #327,509
  • Oct 19, 2012 6:05am Oct 19, 2012 6:05am
Hi Mate greetings to you too (hope u r well.)

I doubt it very much would be the answer but the truth is that no one knows the answer to that question as we don't know the extent of the retail involvement and this is because it is not reflected in the 'real' tier 1 interbank market - ie most retailers trade thru a broker/SB and that said broker/SB will mostly take the other side and not hedge out in the real market as the oft quoted 95% will lose over time anyway (within 2 years.) - so why would they. A frirend of mine is an account manager of 7years at a well known broekr and he told me that in those 7 years he has managed over 10,000 retail accounts and only 10 have lasted over 2 years without topping up on the original depleted margin. Some of course will trade on the cme globex futures contracts and these may be higher capitalised pro' traders. I guess until all retailers trade 'together' in this way - the brokers/SB generally won't hedge the net position/book/exposure in the real market so we will never know.

Best for now

BBmac.

Quoting albchr
I can't disagree with that BB (and good morning BTW) but let me ask you your thoughts on this.

If ALL retail traders acted together, do you think there are enough to "move" the market in any significant way?

I ask because I've always "wondered" that if we could coordinate our efforts, we could.

Meaning if each "session" of traders acted together, we could have a true edge in the market. i.e. ... NY all go long, London all go short, Asia all go long and just keep rotating like that.
ex member
  • #327,510
  • Oct 19, 2012 6:25am Oct 19, 2012 6:25am
ahhh...I see. Thanks for the thoughts bro.

I'm.....hanging in there
Ghost Rider - WWTBMD?
  • #327,511
  • Oct 19, 2012 6:38am Oct 19, 2012 6:38am
I have no idea which way it goes
No entry GU today
Attached Image (click to enlarge)
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  • #327,512
  • Oct 19, 2012 6:39am Oct 19, 2012 6:39am
Quoting bguguen
try to short as close to 1.6060
Edit... Which is now with SL at 1.6080

THe rise up we just had for the past hour in GBPUSD is a corrective move in EURGBP..
there was a bearish divergence on EURGBP H4 meaning GBP would gain a bit and EURUSD would fall....
That trade i recommended for them aggressive traders.... Very naice
Early signs of a bullish divergence on h4 though but not confirmed so dont go longing now until confirmation comes in
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,513
  • Oct 19, 2012 6:49am Oct 19, 2012 6:49am
Quoting bbmac
But that theoretical ForexFactory All Stars 'trading floor' wouldn't last very long as I can almost guarantee that of all those 'traders' 10% or less will be in these threads in 2 years time. I can assure you to an almost certainty that ' no-one' (and by that i mean any institution/trader with big market moving margin) is watching these threads barring the entertainment value/curiosity lol !

G/L

hi BB,

I hope your trades are going well.

I agree. I don't know who started this idea about the banks watching FF, but it's pretty silly.

I watch a live Interbank Time and Sales feed of 9+ banks everyday, and more money is pushed through the pipeline in the first 30 minutes of NY Open than is probably traded by all the people participating on FF in a year.

There's no way the banks are going to move the market to go after a handful of retail stops.

As fun as conspiracy theories are, there's usually an alternate reason for things that doesn't dawn on people. (like being fooled by randomness)

Typically retailers put their stops in areas where larger order blocks may be sitting or just play them too tight.

I saw this video last year and it left a strong impression on me about how wrong perceptions can be sometimes (and how the truth, much of the time, can be utterly random and beyond our imagination).

Inserted Video
  • #327,514
  • Oct 19, 2012 6:56am Oct 19, 2012 6:56am
Quoting Fudomyo
hi BB,

I hope your trades are going well.

I agree. I don't know who started this idea about the banks watching FF, but it's pretty silly.

I watch a live Interbank Time and Sales feed of 9+ banks everyday, and more money is pushed through the pipeline in the first 30 minutes of NY Open than is probably traded by all the people participating on FF in a year.

There's no way the banks are going to move the market to go after a handful of retail stops.

As fun as conspiracy theories are, there's usually an alternate reason for things that doesn't...

I did mention it..but was kidding completely..we look to see where price is going and simply follow it..no time for the other stuff..but it is great to see how people think..diversity is the key to life..

nice to hear from u
  • #327,515
  • Oct 19, 2012 6:56am Oct 19, 2012 6:56am
think we may see that. this shit does not want to come down neither go up. cad data in 5 mins. that is another shit.
  • #327,516
  • Oct 19, 2012 7:02am Oct 19, 2012 7:02am
Quoting Nachiket
think we may see that. this shit does not want to come down neither go up. cad data in 5 mins. that is another shit.
Im keeping an eye out on h4, yes rsi made a higher low while chart made a lower low, problem is..... We need confirmation of a bullish divergence and im not seeing it yet.....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #327,517
  • Oct 19, 2012 7:07am Oct 19, 2012 7:07am
close right on the low large candle ,,no confirmation for that hammer ,
pivot holds a few low tf push up


Quoting Bones
h4
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd h4 19-10-12 no 7.png Size: 31 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #327,518
  • Oct 19, 2012 7:07am Oct 19, 2012 7:07am
Quoting Fudomyo
hi BB,

I hope your trades are going well.

I agree. I don't know who started this idea about the banks watching FF, but it's pretty silly.

I watch a live Interbank Time and Sales feed of 9+ banks everyday, and more money is pushed through the pipeline in the first 30 minutes of NY Open than is probably traded by all the people participating on FF in a year.

There's no way the banks are going to move the market to go after a handful of retail stops.

As fun as conspiracy theories are, there's usually an alternate reason for things that...
Enlightening video. I always thought the umbrella was to give the man shade so he could see the motorcade roll by or just because, for anyone who's ever been in TX, it gets darn HOT there even in the morning.

I NEVER would have thought of "that" reason.
Ghost Rider - WWTBMD?
  • #327,519
  • Oct 19, 2012 7:08am Oct 19, 2012 7:08am
Quoting Nachiket
think we may see that. this shit does not want to come down neither go up. cad data in 5 mins. that is another shit.

bro yur technical analysis is very bad..how the hell did u come up with 1.6090?
  • #327,520
  • Oct 19, 2012 7:10am Oct 19, 2012 7:10am
Quoting Bones
close right on the low large candle ,,no confirmation for that hammer ,
pivot holds a few low tf push up
Ghost Rider - WWTBMD?
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