Cable Update (GBPUSD) | Page 17736 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #354,701
  • Nov 27, 2013 3:25pm Nov 27, 2013 3:25pm
Quoting PipTrapper
{quote} No offence taken and I am happy to answer you. I am trading real money, but I don't post my real account in trade explorer. I have been trading real money since I started 10 years ago. I only traded demo for the first 3 months. In hindsight I should have traded demo for a lot longer as it might have saved me my margin call.. Luckily it was only a small account but the emotional impact was huge. I even called the broker yelling at them because I was margin called on a spread widening during an NFP report and then price went my way. I would...
thanks for your reply. i donīt know how these trade explorerers are working, iīm new here. i know just one thing: if you are trading what you think,the market is going to kill you: i had a great year in the dax, being all in for each trade for short due to the lehman default, until merkel said: "die sparer sind sicher!" boy, i lost 150 k in one night! so, my lesson learnd: take no overnight risk, just take risk for minutes. since i obay to this rule, itīs working fine for me, making +30 pips a day with a low risk profile style of trading. Now, me,my wife and the two kiddies can life with the profits...
SKOL they say in sweden!
fortis fortuna adiuvat
  • #354,702
  • Nov 27, 2013 3:28pm Nov 27, 2013 3:28pm
Quoting PipTrapper
{quote} My EW count for cable has now changed. This is the daily {image}
I fully agree with you on that count (my count is same) except I don't expect that high you mentioned. Strong divergence in daily.
Never test the depth of water with both feet.
  • #354,703
  • Nov 27, 2013 3:37pm Nov 27, 2013 3:37pm
Quoting fxlover11
{quote} I fully agree with you on that count (my count is same) except I don't expect that high you mentioned. Strong divergence in daily.
That strong divergence is a wait and see. It can easily work itself out with some sideways action on wave 4 blue of 5 green (blue count not shown). The key here is that the wave 5 green is a 61.8% extension of wave 3 green. That is the highest probability projection. Now if it forms an ending diagonal, it will neutralize the divergence due to the overlapping.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,704
  • Nov 27, 2013 3:39pm Nov 27, 2013 3:39pm
Quoting deltaone
{quote} thanks for your reply. i donīt know how these trade explorerers are working, iīm new here. i know just one thing: if you are trading what you think,the market is going to kill you: i had a great year in the dax, being all in for each trade for short due to the lehman default, until merkel said: "die sparer sind sicher!" boy, i lost 150 k in one night! so, my lesson learnd: take no overnight risk, just take risk for minutes. since i obay to this rule, itīs working fine for me, making +30 pips a day with a low risk profile style of trading....
Yep, lesson learned for you also. The two key disciplines I have learned are patience and money management. The rest is not possible without those two.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,705
  • Nov 27, 2013 3:51pm Nov 27, 2013 3:51pm
Quoting PipTrapper
{quote} That strong divergence is a wait and see. It can easily work itself out with some sideways action on wave 4 blue of 5 green (blue count not shown). The key here is that the wave 5 green is a 61.8% extension of wave 3 green. That is the highest probability projection. Now if it forms an ending diagonal, it will neutralize the divergence due to the overlapping.
I think it is in the last phase of bull run. If the wave 5 in small tf fail then may this high will persist. Also this high have a fibo importance. But yes may see more extension of the last wave if fundamentals favor GBP.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-d1-trading-point-of.png Size: 44 KB
Never test the depth of water with both feet.
  • #354,706
  • Nov 27, 2013 3:59pm Nov 27, 2013 3:59pm
Quoting fxlover11
{quote} I think it is in the last phase of bull run. If the wave 5 in small tf fail then may this high will persist. Also this high have a fibo importance. But yes may see more extension of the last wave if fundamentals favor GBP. {image}
Or if market remains in risk supportive greed mode until next week's ECB pressie and/or NFP Friday.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,707
  • Nov 27, 2013 4:19pm Nov 27, 2013 4:19pm
Quoting PipTrapper
{quote} Yep, lesson learned for you also. The two key disciplines I have learned are patience and money management. The rest is not possible without those two.
yo, itīs all about mm. cheers and G8! iīm getting drunken and starting to play civilization right now... see you!
fortis fortuna adiuvat
  • #354,708
  • Nov 27, 2013 4:28pm Nov 27, 2013 4:28pm
got a long scalp with a fastoption (because of SMA100). in germany, we have a saying: "betrunkene haben einen schutzengel!" (drunken people have a guardin angel?) cheers!
fortis fortuna adiuvat
  • #354,709
  • Nov 27, 2013 4:28pm Nov 27, 2013 4:28pm
Quoting PipTrapper
{quote} That strong divergence is a wait and see. It can easily work itself out with some sideways action on wave 4 blue of 5 green (blue count not shown). The key here is that the wave 5 green is a 61.8% extension of wave 3 green. That is the highest probability projection. Now if it forms an ending diagonal, it will neutralize the divergence due to the overlapping.
Hi PT,

Like the count Did one today and looking for 16483.
The world you desire can be won. It exists.. it is real.. it is possible..
  • #354,710
  • Nov 27, 2013 4:37pm Nov 27, 2013 4:37pm
Quoting deltaone
got a long scalp with a fastoption (because of SMA100). in germany, we have a saying: "betrunkene haben einen schutzengel!" (drunken people have a guardin angel?) cheers!
Reminds me of a joke.

A priest witnesses the town drunk speeding down the town street.
He quickly jumps in his car and chases the drunk man to try and stop him before he injures himself or someone else.
During the chase, the priest loses control on a corner and crashes into a pole.
The drunk notices this in his mirror so he stops and reverses.

Drunk: Hey are you alright?
Priest: Yes I am fine. My guardian angel is with me.
Drunk: Well you had better tell him to ride with me because you're going to kill him.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,711
  • Nov 27, 2013 4:39pm Nov 27, 2013 4:39pm
Quoting Mr. Scott
{quote} Hi PT, Like the count Did one today and looking for 16483.
80 pips short of my projection, but I figure that unless we get a mother of all short squeezes, that green 5th will probably fail to reach target.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,712
  • Nov 27, 2013 4:41pm Nov 27, 2013 4:41pm
Quoting PipTrapper
{quote} Reminds me of a joke. A priest witnesses the town drunk speeding down the town street. He quickly jumps in his car and chases the drunk man to try and stop him before he injures himself or someone else. During the chase, the priest loses control on a corner and crashes into a pole. The drunk notices this in his mirror so he stops and reverses. Drunk: Hey are you alright? Priest: Yes I am fine. My guardian angel is with me. Drunk: Well you had better tell him to ride with me because you're going to kill him.
LOL
fortis fortuna adiuvat
  • #354,713
  • Nov 27, 2013 4:51pm Nov 27, 2013 4:51pm
Quoting deltaone
{quote} LOL
just before is start civilaztion: when i worked as a student at a german bank in the area "handelskontrolle =trading controlling?), i wonder why traders hold positions overnight? seems to me to be the same as roling the dices...
fortis fortuna adiuvat
  • #354,714
  • Nov 27, 2013 5:14pm Nov 27, 2013 5:14pm
Quoting deltaone
{quote} just before is start civilaztion: when i worked as a student at a german bank in the area "handelskontrolle =trading controlling?), i wonder why traders hold positions overnight? seems to me to be the same as roling the dices...
Every trade has potential for a win or a loss, so you can claim a roll of a dice for the Daily charts as well as the 1 hour and the 5 minute. The only difference is exposure time. However, when you trade in higher time frames with swing and position trades, volume exposure (lot/contract size) has to be lower because you need to allow for a wider stop loss within the same size risk profile. At the end of the day it is still the same risk/reward ratio and MM strategy... just stretched over a wider price range and a wider time axis. The advantage of the higher time frame is that it is far less work and gives a trader the freedom to set and semi-forget. The disadvantage is more tail risk during economic or political instability.

The time frame traded has to depend on the trader's preference. Some cannot trade on higher time frames and some cannot trade on the lower ones, however it does take more skill and discipline to trade lower time frames simply because you have to remain focused and be more nimble. I trade on both and I find them equal in ease/complexity, but that is because I am used to it. At first the lower time frames scared me.

I must admit though that the long term trades have not worked as well this year as they have in prior years, and I attribute that to the choppy action caused by the central bank interventions and the non-conventional market psychology especially since the start of QE3.

Enjoy your evening and have a good night.
Those who say it cannot be done should not interrupt those who are doing it
  • #354,715
  • Nov 27, 2013 5:14pm Nov 27, 2013 5:14pm
Some of the bears on the trade explorer got taken ? lots short falls from 84% earlier today to 75% ! Talk of 1.65 by Xmas .. https://mahifx.com/blog/gbpusd-could...0-by-christmas anything can happen ! - so far the higher probability has played out again.

Best Wishes.
it's all gone a bit........
  • #354,716
  • Nov 27, 2013 5:17pm Nov 27, 2013 5:17pm
what shell we do with the drunken sailor:
Inserted Video

shorting the cable!
fortis fortuna adiuvat
  • #354,717
  • Nov 27, 2013 5:21pm Nov 27, 2013 5:21pm
Quoting petetong
Some of the bears on the trade explorer got taken ? lots short falls from 84% earlier today to 75% ! Talk of 1.65 by Xmas .. https://mahifx.com/blog/gbpusd-could...0-by-christmas anything can happen ! - so far the higher probability has played out again. Best Wishes.
Good write up. I especially enjoyed reading the last part...

"Then there's the Bank of England's attitude towards a strengthening currency. They may not like it. And strong currencies are hardly fashionable these days among policy makers."
Those who say it cannot be done should not interrupt those who are doing it
  • #354,718
  • Nov 27, 2013 5:41pm Nov 27, 2013 5:41pm
Quoting PipTrapper
{quote} Every trade has potential for a win or a loss, so you can claim a roll of a dice for the Daily charts as well as the 1 hour and the 5 minute. The only difference is exposure time. However, when you trade in higher time frames with swing and position trades, volume exposure (lot/contract size) has to be lower because you need to allow for a wider stop loss within the same size risk profile. At the end of the day it is still the same risk/reward ratio and MM strategy... just stretched over a wider price range and a wider time axis. The advantage...
thanks for your reply. the time-frame is important, i guess. as of my history, i prefer the short-term. anyone else can do different, itīs just my personal setup.
all the best to you!
fortis fortuna adiuvat
  • #354,719
  • Nov 27, 2013 5:52pm Nov 27, 2013 5:52pm
clsosing short with a smile.
fortis fortuna adiuvat
  • #354,720
  • Nov 27, 2013 6:02pm Nov 27, 2013 6:02pm
So far Cable has worked out for me very well. I lost a lot when I first started trading in EUR/USD and some in USD/JPY and some in a few other pairs.

But Cable has been helping me get most of my account back. Sadly, I've made a lot less than if I'd just bought one time at 5900 ish (Which is the first time I think I bought) and just held it. Even last night before this huge rise I sold my position off and before bed repurchased only 25% of what I had.

I'm thinking maybe I ought to buy and hold a lot longer.

Either way though, I'm still making money in Forex, consistently, with this pair.

I'll drink a beer tonight to you guys and hope it continues.
1,626 traders viewing now, 4 are registered:
bravenewbie
,
,
saidi01
,