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Cable Update (GBPUSD)

  • #365,401
  • Feb 21, 2014 10:44am Feb 21, 2014 10:44am
http://www.poundsterlinglive.com/exc...-gbp-vod-45435
Twitter: @TrendersGame
  • #365,402
  • Feb 21, 2014 10:45am Feb 21, 2014 10:45am
losing money is normal!!!
With a good book and quality paper you can fine wipe your ass.
  • #365,403
  • Feb 21, 2014 10:46am Feb 21, 2014 10:46am
Quoting Luther
{quote} The Vodafone deal was completed today. It's been known for a month that it would be wrapped up on the 21st. It was the largest corporate pay out in history at 113 Billion Dollars. The transfers of USD into Sterling by fund managers have been taking place from the beginning of February and finished up today just before the fix. These money flows had a hand in recent GU buying, so now that they're complete we're seeing profit taking.

you mean that gbp will go down again till 1.6250
  • #365,404
  • Feb 21, 2014 10:46am Feb 21, 2014 10:46am
With a good book and quality paper you can fine wipe your ass.
  • #365,405
  • Feb 21, 2014 10:47am Feb 21, 2014 10:47am
Quoting Suffo
why?
cos I've been there (not quite to that scale) - and it wasn't such a good feeling - mind you, you could have a 1m acc. for all I know , then I suppose it's only 3.2%
  • #365,406
  • Feb 21, 2014 10:47am Feb 21, 2014 10:47am
what a mess .. glad that i exited in time.
  • #365,407
  • Feb 21, 2014 10:51am Feb 21, 2014 10:51am
i dont give a fuck i drink beer
With a good book and quality paper you can fine wipe your ass.
  • #365,408
  • Feb 21, 2014 10:52am Feb 21, 2014 10:52am
Quoting Suffo
Hi Suffo
I've seen you buy,sell jump around.
Without offending you there is merit in this saying

Bears make money,Bulls make money pigs get slaughtered
In trading, you have to be defensive and aggressive at the same time
  • #365,409
  • Feb 21, 2014 10:53am Feb 21, 2014 10:53am
Quoting Suffo
why?
because if you really have lost 32k you would have been in hospital right now holding your laptop.
  • #365,410
  • Feb 21, 2014 10:54am Feb 21, 2014 10:54am
If your not intraday I have no idea why you would be long this. Recent data has all been bad.

More importantly cant stress enough this M&A deal.... its 130bn US... The size is just so big that its probably been half the reason that GBP has run up from 1.49. A big spot transaction for GBPUSD is 50mm... a really big deal is 250mm. 150mm going thru probably moves GBPUSD by 4-9 pips during London/NY overlap.

Pushing thru hundreds of billions in USD selling is basically unprecedented. I dont know exactly how they did this deal, but if I were an interbank trader as soon as the guy thats been bidding BILLIONS GBP suddenly stops thats probably when I would slam it, producing a move like what we just saw. More likely they split the deal between several banks, who ALL know when the flow stops. As soon as its done they close out their front running longs and its wrap for the rally.


Take away that M&A flow, and more importantly the threat of that flow and GBP stands alone only with the fundamentals of its economy to show for its value.
Twitter: @TrendersGame
  • #365,411
  • Feb 21, 2014 10:54am Feb 21, 2014 10:54am
THX i'm stupid
With a good book and quality paper you can fine wipe your ass.
  • #365,412
  • Feb 21, 2014 10:56am Feb 21, 2014 10:56am
but if i close right now i'm in profit
With a good book and quality paper you can fine wipe your ass.
  • #365,413
  • Feb 21, 2014 10:57am Feb 21, 2014 10:57am
Quoting tanim
{quote} because if you really have lost 32k you would have been in hospital right now holding your laptop.
? wtf
With a good book and quality paper you can fine wipe your ass.
  • #365,414
  • Feb 21, 2014 11:02am Feb 21, 2014 11:02am
waiting 610+
With a good book and quality paper you can fine wipe your ass.
  • #365,415
  • Feb 21, 2014 11:02am Feb 21, 2014 11:02am
Quoting Citiboy
If your not intraday I have no idea why you would be long this. Recent data has all been bad. More importantly cant stress enough this M&A deal.... its 130bn US... The size is just so big that its probably been half the reason that GBP has run up from 1.49. A big spot transaction for GBPUSD is 50mm... a really big deal is 250mm. 150mm going thru probably moves GBPUSD by 4-9 pips during London/NY overlap. Pushing thru hundreds of billions in USD selling is basically unprecedented. I dont know exactly how they did this deal, but if I were an interbank...
Hi Citiboy
I enjoy reading your posts breath of fresh air however Cable run up from 1.49 June of 2013 had probably nothing to do with Verizon deal which I believe is recent transaction.
REgards
In trading, you have to be defensive and aggressive at the same time
  • #365,416
  • Feb 21, 2014 11:07am Feb 21, 2014 11:07am
Quoting Citiboy
If your not intraday I have no idea why you would be long this. Recent data has all been bad. More importantly cant stress enough this M&A deal.... its 130bn US... The size is just so big that its probably been half the reason that GBP has run up from 1.49. A big spot transaction for GBPUSD is 50mm... a really big deal is 250mm. 150mm going thru probably moves GBPUSD by 4-9 pips during London/NY overlap. Pushing thru hundreds of billions in USD selling is basically unprecedented. I dont know exactly how they did this deal, but if I were an interbank...

Interesting read on GBP flow from barx - https://www.dropbox.com/s/i1u4f7cgbissbme/barx.pdf

There is still a lot of this flow thats going to hit the market next week.

Todays drop after the WMR fix was short term specs expecting there to be some vodafone flow today, but that didnt happen and they unwound quickly in the low liquid times just after the fix.

I've said before - from the traders I know, most see next tuesday being the most likely date for the biggest flow on the fix, but they could be wrong. It will be interesting none the less
  • #365,417
  • Feb 21, 2014 11:07am Feb 21, 2014 11:07am
i will probably close this bitch-before close
With a good book and quality paper you can fine wipe your ass.
  • #365,418
  • Feb 21, 2014 11:09am Feb 21, 2014 11:09am
Quoting Suffo
sell 650 sl 690
out 622
With a good book and quality paper you can fine wipe your ass.
  • #365,419
  • Feb 21, 2014 11:09am Feb 21, 2014 11:09am
Quoting Suffo
i dont give a fuck i drink beer
i do not give a fuck i pee that smell like beer
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #365,420
  • Feb 21, 2014 11:10am Feb 21, 2014 11:10am
Quoting Citiboy
If your not intraday I have no idea why you would be long this. Recent data has all been bad. More importantly cant stress enough this M&A deal.... its 130bn US... The size is just so big that its probably been half the reason that GBP has run up from 1.49. A big spot transaction for GBPUSD is 50mm... a really big deal is 250mm. 150mm going thru probably moves GBPUSD by 4-9 pips during London/NY overlap. Pushing thru hundreds of billions in USD selling is basically unprecedented. I dont know exactly how they did this deal, but if I were an interbank...
I would like to believe this but its not so straighfoward considering that daily spot turnover in GBP/USD is around 110Bn, the deal would be done in one day with a big spike.Ofcourse they distributed it for some days and that would cause GBP to be bid during the days. But mainly contributor to this rise was just wild speculation and everyone getting in. The deal in itself is nothing.
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