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Cable Update (GBPUSD)

  • #353,701
  • Nov 20, 2013 8:42am Nov 20, 2013 8:42am
http://ads.investingchannel.com/adta...ype=v&ptype=pg http://ads.investingchannel.com/adta...=01&expires=30 http://ads.investingchannel.com/adta...pe=ps&ptype=pg http://ads.investingchannel.com/adta...49D5477%3D1%3B The technical case to be greatly bullish on Great Britain - Peter Brandt


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  • #353,702
  • Nov 20, 2013 8:43am Nov 20, 2013 8:43am
Quoting Tom_d
Well, had to admit defeat and close off all my positions, I wanted to hold on till the news tonight but decided I didnt want to risk that now. I had been scaling out of the losses since friday and instead of closing off last wednesday morning for a small loss of Ģ400 I ended up taking a hit of Ģ6k, not an easy thing to do and especially as it was a good couple of months profit gone and that profit was made from making a mistake of shorting the cable back at 158-162. So I will try to learn from this one, Still got a salary for the year, but will...

Sorry about your loss.We all have taken losses.
You should look into how you use leverage.Both my accounts I use no leverage.Leverage is a killer.Small and study progress what you should be looking not fast equity growth.Stay away from fast money /fast account blow ups.
Just to give you hope and confedance
5-6% a month account growth in 5yrs is staggering.
compound calculator.It gives you a perspective and allows time to work in your favor.
Good luck
In trading, you have to be defensive and aggressive at the same time
  • #353,703
  • Nov 20, 2013 8:46am Nov 20, 2013 8:46am
Quoting Tom_d
Well, had to admit defeat and close off all my positions, I wanted to hold on till the news tonight but decided I didnt want to risk that now. I had been scaling out of the losses since friday and instead of closing off last wednesday morning for a small loss of Ģ400 I ended up taking a hit of Ģ6k, not an easy thing to do and especially as it was a good couple of months profit gone and that profit was made from making a mistake of shorting the cable back at 158-162. So I will try to learn from this one, Still got a salary for the year, but will...
same situation here, I had 2 shorts from 2 months ago around @1.57 (the swap is killing me) and 1short from last week @1.6130, but still holding on.... hoping for some miracle (I know I'm a fool)...

anyway back to present.
Considering better than expected US core retail sales and retail sales news, cable, instead of going down, still going up and for me that means cable now is very bullish (especially with FOMC looming and everyone expect a dovish statement)

So I expect cable will play within 1.6150 - 1.62 range before FOMC and then after that (until tomorrow) I presume cable will reach 1.6250 or more if tomorrow US news is worse than expected.
  • #353,704
  • Edited 9:04am Nov 20, 2013 8:51am | Edited 9:04am
Quoting Davit
{quote} Sorry about your loss.We all have taken losses. You should look into how you use leverage.Both my accounts I use no leverage.Leverage is a killer.Small and study progress what you should be looking not fast equity growth.Stay away from fast money /fast account blow ups. Just to give you hope and confedance 5-6% a month account growth in 5yrs is staggering. compound calculator.It gives you a perspective and allows time to work in your favor. Good luck
yeah, to be honest my position sizes were small, I had worked my account up from 2k to 25k this year and that was a result of 13,000pips, though with how last week has been, it'll total around 11k pips now.

I made poor decisions from last week and got greedy I guess

No more trading for me this week, time to recoup and start fresh

good luck to others!
  • #353,705
  • Nov 20, 2013 9:00am Nov 20, 2013 9:00am
Quoting Tom_d
{quote} yeah, to be honest my position sizes were small, I had worked my account up from 2k to 25k this year and that was a result of 13,000pips, though with how last week has been, it'll total around 11k now. I made poor decisions from last week and got greedy I guess No more trading for me this week, time to recoup and start fresh good luck to others!

That's a stellar return my friend! Don't be hard on yourself. Even with 11k that's over 500%you should relax and pad on your back!
In trading, you have to be defensive and aggressive at the same time
  • #353,706
  • Nov 20, 2013 9:03am Nov 20, 2013 9:03am
Quoting Davit
{quote} That's a stellar return my friend! Don't be hard on yourself. Even with 11k that's over 500%you should relax and pad on your back!
thanks, yeah, that's just the pip count according to fxbook, If I can achieve those pips each year i'll be very happy
  • #353,707
  • Nov 20, 2013 9:17am Nov 20, 2013 9:17am
Quoting grand_dra9on
{quote} same situation here, I had 2 shorts from 2 months ago around @1.57 (the swap is killing me) and 1short from last week @1.6130, but still holding on.... hoping for some miracle (I know I'm a fool)... anyway back to present. Considering better than expected US core retail sales and retail sales news, cable, instead of going down, still going up and for me that means cable now is very bullish (especially with FOMC looming and everyone expect a dovish statement) So I expect cable will play within 1.6150 - 1.62 range before FOMC and...
Becareful, it should hit 1.6379 before a correction.
Face both Win and Lose bravely
  • #353,708
  • Nov 20, 2013 9:28am Nov 20, 2013 9:28am
Quoting Cowboy11
{quote} Becareful, it should hit 1.6379 before a correction.
Yes, I believe cable could hit 1.6379 before the week's end, especially with everything going in cable's favor.

and also I believe cable wouldn't go to (or below) 1.55xx area before year's end (although technically it could, but that's a really small chance) because
1.Carney still pumping cable up,
2. UK keeps releasing upbeat and better than expected data
3. US doesn't plan to stop their QE anytime soon and they keep releasing dovish statements most of the times.

God helps the shorters (me)
  • #353,709
  • Nov 20, 2013 9:38am Nov 20, 2013 9:38am
Is this reason for EUR crash?
Fed's Bullard: Data look a little better
The Market pays you to be disciplined
  • #353,710
  • Nov 20, 2013 9:40am Nov 20, 2013 9:40am
Quoting JimmyC
Howzit, Cable is waiting for something, must be FOMC This has been a spot more reliable. Trade safe G/L {image}
Now have short EU, Bearflag / breach of rising channel target 1.3269 fundamental discussion of ECB potential negative deposit rates. Set stop at own R/R 1.3587

Good evening all

G/L
  • #353,711
  • Nov 20, 2013 9:43am Nov 20, 2013 9:43am
Quoting mima
Is this reason for EUR crash? Fed's Bullard: Data look a little better
no

but this is

http://www.businessweek.com/news/201...-easing-needed
  • #353,712
  • Nov 20, 2013 9:56am Nov 20, 2013 9:56am
Quoting akki300986
{quote} no but this is http://www.businessweek.com/news/201...-easing-needed
Thank you
The Market pays you to be disciplined
  • #353,713
  • Nov 20, 2013 10:00am Nov 20, 2013 10:00am
Quoting JimmyC
{quote} Now have short EU, Bearflag / breach of rising channel target 1.3269 fundamental discussion of ECB potential negative deposit rates. Set stop at own R/R 1.3587 Good evening all G/L
this is the news you buy euro's on buddy..

load them up! they on discount... they wont and cant go negative depo rate..

eur/chf is to be constant which means negative ecb rate will force jordan, swiss central banker, to cut his rates negative too... on tp of this germany wont let this happen as what it means is that its cash rick instituions will be foreced to pay money to be cash rich and inflation...

net net this is just talk.. too much political-structural issues... buy euros
  • #353,714
  • Nov 20, 2013 10:19am Nov 20, 2013 10:19am
Quoting akki300986
{quote} this is the news you buy euro's on buddy.. load them up! they on discount... they wont and cant go negative depo rate.. eur/chf is to be constant which means negative ecb rate will force jordan, swiss central banker, to cut his rates negative too... on tp of this germany wont let this happen as what it means is that its cash rick instituions will be foreced to pay money to be cash rich and inflation... net net this is just talk.. too much political-structural issues... buy euros
Thank you for fundamentals in plain English. ...and that is for me....
The Market pays you to be disciplined
  • #353,715
  • Nov 20, 2013 10:44am Nov 20, 2013 10:44am
Some people just won't be happy until everyone trades in the same direction as their calls. How arrogant of some to assume they know "everything". Geeze buddy... get a life.

This is you >>>
Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #353,716
  • Nov 20, 2013 10:47am Nov 20, 2013 10:47am
Quoting PipTrapper
Some people just won't be happy until everyone trades in the same direction as their calls. How arrogant of some to assume they know "everything". Geeze buddy... get a life. This is you >>> {image}
funny u feel so.. i am just sharing my analysis.. if anyone wants to put the trade on they do, if don't they don't.

only u bring up these things.. and try and put words in my mouth

i just want healthy debate..
  • #353,717
  • Nov 20, 2013 10:58am Nov 20, 2013 10:58am
Quoting akki300986
{quote} funny u feel so.. i am just sharing my analysis.. if anyone wants to put the trade on they do, if don't they don't. only u bring up these things.. and try and put words in my mouth i just want healthy debate..
I neither agree or disagree with you on the fundies, i simply dont know enough about it. What i do best is read charts and that is what i'll stick to.
What i do agree with, is you posting things for people like me to think about. Mr Piptrapper then counters with equally thought provoking responses (creating debate). Others join and offer more (maybe better) opinions and have links to materials that in turn stimulate yet more debate/research for someone like me to learn from.

This is healthy. When it gets all slaggy it's a shame 'cos it's debate we can all learn from.

i might add that i'm no noob here, i'm just happy to admit i really dont know it all already and ANYONE on here (no matter the +v rating or whatever) may have good stuff to say.
  • #353,718
  • Nov 20, 2013 11:04am Nov 20, 2013 11:04am
Quoting aBitWonKy
{quote} I neither agree or disagree with you on the fundies, i simply dont know enough about it. What i do best is read charts and that is what i'll stick to. What i do agree with, is you posting things for people like me to think about. Mr Piptrapper then counters with equally thought provoking responses (creating debate). Others join and offer more (maybe better) opinions and have links to materials that in turn stimulate yet more debate/research for someone like me to learn from. This is healthy. When it gets all slaggy it's a shame 'cos it's...
Exactly right.

I love reading the differing opinions on here, from those who look at charts and those who look at fundies and those who do something else.

It only sucks when things get bogged down in the minutiae of insults.
  • #353,719
  • Nov 20, 2013 11:08am Nov 20, 2013 11:08am
Quoting Baggi
{quote} Exactly right. I love reading the differing opinions on here, from those who look at charts and those who look at fundies and those who do something else. It only sucks when things get bogged down in the minutiae of insults.
that has always been my aim..

the reason i come here is because i dont use charts and dont want to spend time and effort in it. so i used ready to offer charts which people post here, this help me decide my entry exit points

i have been doing this for some time and then i decided to start posting as i saw lack of fundamental discussions + i wanted to give back. if u see, i am active from May but posting since yesterday. i wont apologize for saying that "i feel", and i might be wrong, that people lack fundamental understanding here

hence i want to contribute!
  • #353,720
  • Nov 20, 2013 11:19am Nov 20, 2013 11:19am
i never take overnight risk. when i enter the market, itīs just for minutes - in most cases when new informations are created by the boe, the fed or the ecb.
i look at the data after the trade. the chart is the fastest newsticker.
if i would start to read the information, try to interpret it and start the trade after this two steps, i think it would be too late.
excuse my poor english, itīs not my business language.
fortis fortuna adiuvat
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