Cable Update (GBPUSD)

Quoting Baggi

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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...

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Quoting PipTrapper

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{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...

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Quoting PipTrapper

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{quote} 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."

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Quoting deltaone

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"this market is pretty wild" "please exit your short, before you lose your fucking shirt!"

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Quoting littlecraig

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{quote} Hi where did you get the full stop map from, I can't find that one anywhere.

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Quoting lumesh

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{quote} thanks Tau for your updates. can you show the stop picture for eur ?

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Quoting lumesh

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{quote} what do those blue and red lines represent ?

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Quoting TauTrader

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{quote} Good day to you, sir Those are potentially important levels and extremes based on CME data / options. Again - it is only a probability tool. When price exceeds these - it raises the probability of a turn back. This is a long term strategy where one has to build a position with intervals and apply healthy money management. Regards {image}

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Quoting Pumpndump

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{quote} Good Day Sir, I was not ignoring your past comments about little back testing, just generally been very busy trying to work out if I am right or wrong about this move down! I have always held high regard for returning to a median point ( when we are not in the middle of a crash/war/terrorist....) and this map highlights that very nicely from my perspective! Best Regards

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