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Cable Update (GBPUSD)

  • #384,021
  • Jun 26, 2014 9:24am Jun 26, 2014 9:24am
Quoting TauTrader
{quote} So - in. Trade the retrace.
Apology - chart. Off topic.

May have to add one more time -

Regards
Attached Image (click to enlarge)
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  • #384,022
  • Jun 26, 2014 9:33am Jun 26, 2014 9:33am
Trade confirmation
On 26-Jun-2014 at 14:29:22 (GMT)
You sold 5GBPUSD @ 1.70102 for value date 30-Jun-2014
Front office position id: 139517409
Account:
  • #384,023
  • Jun 26, 2014 9:35am Jun 26, 2014 9:35am
Quoting navk
{quote} A question to you : I know to be an intra day trader, one has to be extremely disciplined and have good system. You seem to be a position trader, but for sure must have been an Intra day trader also in the past. Good money is in Intra day systems though it is tiresome.. Your feel being a position trader ?
Intraday -> determine best entry, then hold

As an intraday trader you pay spread over and over and over again and ultimately you lose more money,

On the position side we trade much less and reward is held longer and pref for positive swap,,, So I'm long AU and have been for some time now... primary trade.

If I get USDZAR @14 then I will short it and hold for 5 years and earn positive swap...

This is the easiest way to sort this trading thing out... much less stress
  • #384,024
  • Jun 26, 2014 9:37am Jun 26, 2014 9:37am
Quoting TauTrader
{quote} Apology - chart. Off topic. May have to add one more time - Regards {image}
Sir Tau

Not off topic at all to me. Heading back to test broken support me thinks. a bump at 39955 perhaps?
Attached Image (click to enlarge)
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Ghost Rider - WWTBMD?
  • #384,025
  • Jun 26, 2014 9:38am Jun 26, 2014 9:38am
Quoting elbert3
Trade confirmation On 26-Jun-2014 at 14:29:22 (GMT) You sold 5GBPUSD @ 1.70102 for value date 30-Jun-2014 Front office position id: 139517409 Account:

Sir,

I think higher first.. I however have 1 short as a tester - good luck!



Regards
  • #384,026
  • Jun 26, 2014 9:43am Jun 26, 2014 9:43am
Quoting JimmyC
{quote} Intraday -> determine best entry, then hold As an intraday trader you pay spread over and over and over again and ultimately you lose more money, On the position side we trade much less and reward is held longer and pref for positive swap,,, So I'm long AU and have been for some time now... primary trade. If I get USDZAR @14 then I will short it and hold for 5 years and earn positive swap... This is the easiest way to sort this trading thing out... much less stress
Hi Jimmy, love your approach and the logic to paying spread over and over again. It is true, the spread will only make your broker happy. @USDZAR 14: Probably a bit to go, 10.66075 now
Fix up, trade sharp ...
  • #384,027
  • Jun 26, 2014 9:54am Jun 26, 2014 9:54am
Quoting Hickson
{quote} Hi Jimmy, love your approach and the logic to paying spread over and over again. It is true, the spread will only make your broker happy. @USDZAR 14: Probably a bit to go, 10.66075 now
For now its on review

USDZAR monthly
Attached Image

Technical pattern identified cup and handle trend is short rand (negative swap -> no trade)
Suggests world event will cause a spike to 16 area trade alerts @ 14 -> move to watch list 14.90 enter short position 1 stop at 17.00 continue to 16 if PA allows sell limit is at 16.20 for full position trigger SL 17.40 no TP carry trade till SL can be moved to 15 and hold till stopped or interest rate makes swap uncomfortable...



Similar strats exist on AU / ZARJPY and the few other carry trades out there

Also equity shorts with positive swap options in resources sector FTSE:JSE $EXX short being held from zonks ago,

Slow and steady makes the money...
  • #384,028
  • Jun 26, 2014 9:55am Jun 26, 2014 9:55am
Quoting JimmyC
{quote} Intraday -> determine best entry, then hold As an intraday trader you pay spread over and over and over again and ultimately you lose more money, On the position side we trade much less and reward is held longer and pref for positive swap,,, So I'm long AU and have been for some time now... primary trade. If I get USDZAR @14 then I will short it and hold for 5 years and earn positive swap... This is the easiest way to sort this trading thing out... much less stress
I understand spread cost will be more in intra day trading.

But by being an intra day trader, one makes more money than a position trader.. provided self disciplined & trade according to rules..
Intraday only.
  • #384,029
  • Jun 26, 2014 9:55am Jun 26, 2014 9:55am
Quoting TauTrader
{quote} Sir, I think higher first.. I however have 1 short as a tester - good luck! Regards
Tau me too but with this thing ?? still on a high so go with the flow we had a good rejection at 38 it came through 1700 so we know it can do it ,,it tells us target 69915 for now as soon as commission is payed sl on for me
Attached Image (click to enlarge)
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  • #384,030
  • Jun 26, 2014 9:58am Jun 26, 2014 9:58am
Quoting elbert3
{quote} Tau me too but with this thing ?? still on a high so go with the flow we had a good rejection at 38 it came through 1700 so we know it can do it ,,it tells us target 69915 for now as soon as commission is payed sl on for me {image}
if the cut is below 1.7000 we will head lower tomorrow
  • #384,031
  • Jun 26, 2014 10:02am Jun 26, 2014 10:02am
Quoting elbert3
{quote} Tau me too but with this thing ?? still on a high so go with the flow we had a good rejection at 38 it came through 1700 so we know it can do it ,,it tells us target 69915 for now as soon as commission is payed sl on for me {image}
Sir,

I hear ya..

You can long EU from around here for a few - but only if you want.

All the best
  • #384,032
  • Jun 26, 2014 10:02am Jun 26, 2014 10:02am
Quoting giveachance
{quote} if the cut is below 1.7000 we will head lower tomorrow
yes 6949 if it gets there today ,,well great
  • #384,033
  • Jun 26, 2014 10:04am Jun 26, 2014 10:04am
Quoting elbert3
{quote} yes 6949 if it gets there today ,,well great
lol. you are expecting too much. carnage has made sure it doesn't go there.
  • #384,034
  • Jun 26, 2014 10:07am Jun 26, 2014 10:07am
This game is getting risky
The fragrance remains in the hands of those that gves the rose
  • #384,035
  • Jun 26, 2014 10:07am Jun 26, 2014 10:07am
Quoting giveachance
{quote} lol. you are expecting too much. carnage has made sure it doesn't go there.
preivously draghi made the same thing, but its totally a failure for eur
  • #384,036
  • Jun 26, 2014 10:08am Jun 26, 2014 10:08am
Quoting giveachance
{quote} lol. you are expecting too much. carnage has made sure it doesn't go there.
Yeah it looks so.

The previous low ( 1.6950 ) will hold if at all it goes there tomorrow.
Intraday only.
  • #384,037
  • Jun 26, 2014 10:09am Jun 26, 2014 10:09am
Quoting albchr
{quote} Sir Tau Not off topic at all to me. Heading back to test broken support me thinks. a bump at 39955 perhaps? {image}
Mr.C

Do not know..

Just following the indi. Told me to long EU at the time. I am not the brightest spark. Just acting on instruction.. S&M trading.

Haha

Regards
  • #384,038
  • Jun 26, 2014 10:21am Jun 26, 2014 10:21am
If G/U breaks 1.6985 and stabilize below it again will strengthen the bearish possibility, sell the pair below 1.7010 targeting 1.6985, 1.6935 and 1.6900 and stop-loss above 1.7065!!!!
  • #384,039
  • Jun 26, 2014 10:37am Jun 26, 2014 10:37am
Quoting TauTrader
{quote} Mr.C Do not know.. Just following the indi. Told me to long EU at the time. I am not the brightest spark. Just acting on instruction.. S&M trading. Haha Regards
Nor am I Sir Tau. Seems I may have fallen short by 3 or 4 pips so far this morning. Perhaps combining sparks we shed a little light?

Perhaps a little NY afternoon delight?

EDIT: Me speaks too soon...
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Ghost Rider - WWTBMD?
  • #384,040
  • Jun 26, 2014 10:44am Jun 26, 2014 10:44am
long @1,7013, sl 1,6983
fortis fortuna adiuvat
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