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Cable Update (GBPUSD)

  • #384,701
  • Jul 1, 2014 10:31am Jul 1, 2014 10:31am
Quoting JimmyC
Pivots just fyi GU 1H {image}
very nice JimmyC , like usual you keep it simple . so for gu the surprise for me is the straight rally up ( no retrace) , I was looking for monthly FIBS all the time but I didnt want to believe it could reach these levels , silly me
Get Rich or Die Tryin
  • #384,702
  • Jul 1, 2014 10:34am Jul 1, 2014 10:34am
Quoting Jenx
{quote} I feel like following you pal but for now, I've had enough of trying to short this monkey on my back!
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well if you going to try,,, try on the resistance ?? sl will be on as soon as i pay the commission, cant afford this one to run away ,, international rescue is on this thunder birds are go ,,
  • #384,703
  • Jul 1, 2014 10:36am Jul 1, 2014 10:36am
Quoting elbert3
{quote} i would like to see a gb special,, spend days getting up there and all that work wiped out in 30 mins
  • #384,704
  • Jul 1, 2014 10:39am Jul 1, 2014 10:39am
Quoting hoom
{quote} very nice JimmyC , like usual you keep it simple . so for gu the surprise for me is the straight rally up ( no retrace) , I was looking for monthly FIBS all the time but I didnt want to believe it could reach these levels , silly me
I hear ya, if you have a day you can sit on the charts and play the hourly's cables ok, but if you have to plan set and forget... more surprise of the unpleasant kind... Oh well can't lose money if you don't get filled.

But this bull run is just what it is, had guys in equity land saying the SP500 was a dead certain short @ 1900 oh yes and its in a rising wedge... well its just broken out the top of the rising wedge @1978 and 2000 is on the dial...

The trend is, the trend.

If you're a bear around the indexes cable and the ozzy it been a lot of crying yourself to sleep, truly crazy stuff but I'm not complaining ... yet I'll get my turn to cry soon enough

Cheers
  • #384,705
  • Jul 1, 2014 10:40am Jul 1, 2014 10:40am
Quoting JimmyC
Pivots just fyi GU 1H {image}
You see Jimmy, when I traded pivots ,I'd have been quids in on that one. Because the day opened so far above pivot, I'd have been bullish and would just have trailed a long order above each candle, with R1 being the first TP.
Where price is now, it has been before, and will be again.
  • #384,706
  • Jul 1, 2014 10:43am Jul 1, 2014 10:43am
any more bears left or all are butchered. I took a 40 pip loss on my last gbp sell and yes it will be my last. Won't trade this pair anymore. i still have gbp/jpy sells.
  • #384,707
  • Jul 1, 2014 10:45am Jul 1, 2014 10:45am
Quoting Jenx
{quote} You see Jimmy, when I traded pivots ,I'd have been quids in on that one. Because the day opened so far above pivot, I'd have been bullish and would just have trailed a long order above each candle, with R1 being the first TP.
Look its a good idea but there just, just isn't really enough meat on that sandwich for me... I still like her but AU has been nicer to me lately..
  • #384,708
  • Jul 1, 2014 10:52am Jul 1, 2014 10:52am
Quoting hoom
{quote} the funny thing is when this bitch would turn bearich , no one would notice and they would buy on dips .
welcome to the house of pain. ferrari is at the end of driveway.
  • #384,709
  • Jul 1, 2014 11:00am Jul 1, 2014 11:00am
Quoting cspip
{quote} not quite......................and im expecting a bounce frm 1.7153 before 1.7171..........i think
My opinion NY high reached for today.
Intraday only.
  • #384,710
  • Jul 1, 2014 11:04am Jul 1, 2014 11:04am
Quoting JimmyC
{quote} Look its a good idea but there just, just isn't really enough meat on that sandwich for me... I still like her but AU has been nicer to me lately..
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Where price is now, it has been before, and will be again.
  • #384,711
  • Jul 1, 2014 11:07am Jul 1, 2014 11:07am
Quoting navk
{quote} My opinion NY high reached for today.
Maybe

But I trade 24/5

And today? Your 'today', but somewhere, someone else's 'today' is starting.....
  • #384,712
  • Jul 1, 2014 11:09am Jul 1, 2014 11:09am
Quoting dinesh2014
{quote} will i get my capital back with next 24hours? i have open short position from 1.6968 my free margin level is 34.

You must have risk percent in mind when you place trades.

It is not the free margin you should worry about, but the floating loss percentage with respect to equity.

The educators say 2 %, but for retailers like us, say 5 to 6 % ?
Intraday only.
  • #384,713
  • Jul 1, 2014 11:09am Jul 1, 2014 11:09am
Quoting Jenx
A couple of years ago I was day-trading pivot points.Never went to bed with an open trade. I was easily doing 2% a day. About 18 months ago I spotted cable bottoming out and decided to change my strategy and go for a long term option. I concentrated all my margin/efforts on building a long position which, although expensive ,eventually came good.My initial position had a net worth of 1.5050 and is now worth 1.5853 due to taking profits and scaling back in. Last couple of weeks I've started to build a short position and that is now eating into the...
This comes down to the fact that long term position trading is less efficient than frequent compounding of short term swing trades. The more frequent you compound your gains the more efficient even if they are small gains. So short term, frequent swing trades or scalps are the way to go. From now on I will forget about long term trades, and focus on short term trades.
ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #384,714
  • Jul 1, 2014 11:10am Jul 1, 2014 11:10am
Quoting cspip
{quote} Maybe But I trade 24/5 And today? Your 'today', but somewhere, someone else's 'today' is starting.....
Sorry, I consider Asia open to NY close.
Intraday only.
  • #384,715
  • Jul 1, 2014 11:24am Jul 1, 2014 11:24am
Quoting ffleo
{quote} This comes down to the fact that long term position trading is less efficient than frequent compounding of short term swing trades. The more frequent you compound your gains the more efficient even if they are small gains. So short term, frequent swing trades or scalps are the way to go. From now on I will forget about long term trades, and focus on short term trades.
Too right!
Where price is now, it has been before, and will be again.
  • #384,716
  • Jul 1, 2014 11:53am Jul 1, 2014 11:53am
cable daily and H4 charts. very likely it is time for it to have a decent retracement, with target 6950.

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ignore wackos and psychos, including myself. But I can't add myself to iggy
  • #384,717
  • Jul 1, 2014 12:05pm Jul 1, 2014 12:05pm
Anyway guys, I'm cycling from the North of England to Perpignan in the South of France for a great charity in a couple of weeks. Been trying to learn to trade off my phone in preparation! If any of you are on Facebook, please like and share " HJ to Perpignan" Like I said , it's for a great cause!
Where price is now, it has been before, and will be again.
  • #384,718
  • Jul 1, 2014 12:14pm Jul 1, 2014 12:14pm
ff statistics:

78% short cable
avg return -7%
avg duration 5 weeks (!!!)
losing trades 1379 with 10 times higher volume than long trades.

my question: is the avg return just the unleveraged outcome measured in pips?
as far as i know, in fx-trading leverage is up to 200% (f.e. at ig where i am trading); so the result is up to -140%?
if this is right, it would explain the highly emotional posts of some members...
fortis fortuna adiuvat
  • #384,719
  • Jul 1, 2014 12:16pm Jul 1, 2014 12:16pm
Quoting ffleo
cable daily and H4 charts. very likely it is time for it to have a decent retracement, with target 6950. {image} {image}
I will never try to catch the top again , if it turns bearich I will go with the flow , my equity had a heart attack lately due to commodities currency rally
Get Rich or Die Tryin
  • #384,720
  • Jul 1, 2014 12:20pm Jul 1, 2014 12:20pm
Quoting deltaone
ff statistics: 78% short cable avg return -7% avg duration 5 weeks (!!!) losing trades 1379 with 10 times higher volume than long trades. my question: is the avg return just the unleveraged outcome measured in pips? as far as i know, in fx-trading leverage is up to 200% (f.e. at ig where i am trading); so the result is up to -140%? if this is right, it would explain the highly emotional posts of some members...
Leverage is the killer.Full stop.
Where price is now, it has been before, and will be again.
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