Cable Update (GBPUSD)
- #367,562
- Mar 7, 2014 4:53am Mar 7, 2014 4:53am
- Joined Aug 2009 | Status: Ride the Pig | 31,271 Posts
Look Sharp/Trade Tight
- #367,563
- Mar 7, 2014 5:35am Mar 7, 2014 5:35am
- Joined Sep 2009 | Status: From Timex to Rolex via Forex | 3,398 Posts
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
- #367,566
- Mar 7, 2014 5:45am Mar 7, 2014 5:45am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
{quote} short gold 1351,20 sl on the open
sorry i had to put that in
- #367,568
- Edited 6:13am Mar 7, 2014 5:48am | Edited 6:13am
{quote} ho ho ho out and long 1334 sl to manage but who cares now
With a good book and quality paper you can fine wipe your ass.
- #367,570
- Mar 7, 2014 5:50am Mar 7, 2014 5:50am
- Joined Sep 2009 | Status: From Timex to Rolex via Forex | 3,398 Posts
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
- #367,572
- Mar 7, 2014 5:54am Mar 7, 2014 5:54am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #367,574
- Mar 7, 2014 5:58am Mar 7, 2014 5:58am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #367,578
- Mar 7, 2014 6:18am Mar 7, 2014 6:18am
- Joined Dec 2013 | Status: Trader | 19,815 Posts
- #367,580
- Mar 7, 2014 6:40am Mar 7, 2014 6:40am
- Joined Oct 2008 | Status: CANCELLED MEMBERSHIP | 3,116 Posts
Good morning Traders,
I'm heading out the door to the beach.
I remain long to 1.70000
Just to give you all a heads up on what is going on
There is a 1.6750 OPTIONS EXPIRY - pay out 700 million at 10am EASTERN New York Time
There is also a 1.6800 OPTIONS EXPIRY - pay out 1 BILLION at 10am EASTERN New York Time
1.6750 is the closest, so the market may hold the price close to 1.6750 to collect on that payout come 10am EASTERN New York Time
After 10am EASTERN - its will be open season.
NFP (Non-Farm Payroll) has passed and because unemployment has risen, its bad for the US even though the jobs data was good and also revised higher.
I remain long GBP/USD to 1.70000 and long GBP/CAD to 1.90000
Final Note:
Scenario 1
The 2009 High 1.7043 on the GBP/USD if taken out and we get a daily close above 1.70000 (when that time comes) I will be re-entering LONG again to hold for 1.80000 and then 1.90000 and then 2.0000 - This is what position trading is about.
Scenario 2
If the 2009 High 1.7043 on the GBP/USD if taken out and we get a daily close below 1.70000 (when that time comes) I will be entering short back down to the consolidation area.
FOOD FOR THOUGHT
Brokers love day traders because there is a higher probability that from the constant in and out of trades, eventual you will lose all your money.
Brokers dislike position traders because after you pay one fee to enter the trade, the position trader then sits and collect on the daily positive swaps (which is the positive interest you earn on your trade holding it for weeks) being LONG the GBP/USD for example.
So there is a lower probability of a position trader losing money and blowing his/her account, once trading in the direction of the trend in comparison to a day trader.
I remain long GBP/USD to 1.70000 and long GBP/CAD to 1.90000
IF YOU DONT SEE IT - DONT TRADE IT
Keep up the good work Davit, PTL and Elbert3
HDA OUT
PS. The wife is screaming at me to get in the car
goddah love her, she adores my attention.
I'm heading out the door to the beach.
I remain long to 1.70000
Just to give you all a heads up on what is going on
There is a 1.6750 OPTIONS EXPIRY - pay out 700 million at 10am EASTERN New York Time
There is also a 1.6800 OPTIONS EXPIRY - pay out 1 BILLION at 10am EASTERN New York Time
1.6750 is the closest, so the market may hold the price close to 1.6750 to collect on that payout come 10am EASTERN New York Time
After 10am EASTERN - its will be open season.
NFP (Non-Farm Payroll) has passed and because unemployment has risen, its bad for the US even though the jobs data was good and also revised higher.
I remain long GBP/USD to 1.70000 and long GBP/CAD to 1.90000
Final Note:
Scenario 1
The 2009 High 1.7043 on the GBP/USD if taken out and we get a daily close above 1.70000 (when that time comes) I will be re-entering LONG again to hold for 1.80000 and then 1.90000 and then 2.0000 - This is what position trading is about.
Scenario 2
If the 2009 High 1.7043 on the GBP/USD if taken out and we get a daily close below 1.70000 (when that time comes) I will be entering short back down to the consolidation area.
FOOD FOR THOUGHT
Brokers love day traders because there is a higher probability that from the constant in and out of trades, eventual you will lose all your money.
Brokers dislike position traders because after you pay one fee to enter the trade, the position trader then sits and collect on the daily positive swaps (which is the positive interest you earn on your trade holding it for weeks) being LONG the GBP/USD for example.
So there is a lower probability of a position trader losing money and blowing his/her account, once trading in the direction of the trend in comparison to a day trader.
I remain long GBP/USD to 1.70000 and long GBP/CAD to 1.90000
IF YOU DONT SEE IT - DONT TRADE IT
Keep up the good work Davit, PTL and Elbert3
HDA OUT
PS. The wife is screaming at me to get in the car
goddah love her, she adores my attention.