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Cable Update (GBPUSD)

  • #393,921
  • Aug 19, 2014 4:32am Aug 19, 2014 4:32am
Quoting Hickson
{quote} He must really have big patience if he is 200 or 150 pips in the red now. I am serious here. Don't know what keeps him so calm in this type of situation. Maybe just a huge account.
Or, perhaps a bigger vision.

Hope you all are doing well and having fun. Just passing through. Best wishes everyone.
Ghost Rider - WWTBMD?
  • #393,922
  • Aug 19, 2014 4:34am Aug 19, 2014 4:34am
Quoting albchr
{quote} Or, perhaps a bigger vision. Hope you all are doing well and having fun. Just passing through. Best wishes everyone.
Probably both. Otherwise heard to bear psychologically.
Fix up, trade sharp ...
  • #393,923
  • Edited 4:56am Aug 19, 2014 4:35am | Edited 4:56am
Quoting Hickson
{quote} I have no idea. But regardless of that, he must have enough confidence in holding these positions normal people would probably only trade in microlots.
dont know his lots but one needs to have MM in balance..If hes big, im sure he is no hurry to add/kill/reverse and moo. As I see it, he trades the plan.

2y UK on lows with money still running out of gbp
  • #393,924
  • Aug 19, 2014 4:35am Aug 19, 2014 4:35am
Quoting chazzle
{quote} hi mate - can't see the 6625 anywhere - strongest no. in the area as i see is the feb swing high - close of that week at 632 with May low at 693 to cap short term - just playing the edge of this poss. range - see if US data can take us to the upper side of the range - all the best
150% ext of this move in M30
Attached Image (click to enlarge)
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Don't be smart. Be rich.
  • #393,925
  • Aug 19, 2014 4:39am Aug 19, 2014 4:39am
Landed right on 200 day ema..
  • #393,926
  • Aug 19, 2014 4:41am Aug 19, 2014 4:41am
Quoting maximinus
{quote} 150% ext of this move in M30 {image}
In M1, the continuation of today's fall give a target to 1.6607. For me even in scalp mode short is safer.
Don't be smart. Be rich.
  • #393,927
  • Aug 19, 2014 4:42am Aug 19, 2014 4:42am
Quoting 21vs7
{quote} dont know his lots but one needs to have MM in balance..If hes big, im sure he is no hurry to add/kill/reverse and moo. As I see it, he trades the plan. 2y UK on lows with money still running out of gbp
Hmmmm.... last year money was running into gbp because of rate hike speculations ...
Fix up, trade sharp ...
  • #393,928
  • Aug 19, 2014 4:47am Aug 19, 2014 4:47am
Quoting Hickson
{quote} Probably both. Otherwise heard to bear psychologically.
Definitely both. Since this business is all about % of the account, with proper MM psychology really shouldn't be an issue. A person risking $10 on a $200 account should be no different "psychologically" than a person risking $10,000 on a $200,000 account and so on. In my humble opinion of course.

Anyway, gotta run. Enjoy folks.
Ghost Rider - WWTBMD?
  • #393,929
  • Aug 19, 2014 4:52am Aug 19, 2014 4:52am
Quoting maximinus
{quote} 150% ext of this move in M30 {image}
ah - i see - i have 627 there - just 5 pips from my 632, can pretty much count it as the same level ... let's see if she holds - gl - are you in anything atm max?
  • #393,930
  • Aug 19, 2014 4:55am Aug 19, 2014 4:55am
Quoting Hickson
{quote} Hmmmm.... last year money was running into gbp because of rate hike speculations ...
yes, and the bounce started with 2y papers yields going higher at the same time. 2013 levels arund 1,55 cable.
I trade fx, but imo the movers are the bond guys. I dont know?!

I see strong correlation with gbp crosses and 2y UK paper with this move down on gbpxxx.
Yields gain and gbp gain were killed and we have a strong contrarian move.

I still favour longs on a long run on gbpxxx but needs to get aligned with 2y yields for my decision.
With new lows on yield, im not thinking of buying this yet
  • #393,931
  • Aug 19, 2014 4:58am Aug 19, 2014 4:58am
Quoting chazzle
{quote} ah - i see - i have 627 there - just 5 pips from my 632, can pretty much count it as the same level ... let's see if she holds - gl - are you in anything atm max?
Yes, I'm short UJ and UC but in red ATM. Shit happens, it's all part of this business.
Don't be smart. Be rich.
  • #393,932
  • Aug 19, 2014 5:17am Aug 19, 2014 5:17am
Quoting Hickson
{quote} He must really have big patience if he is 200 or 150 pips in the red now. I am serious here. Don't know what keeps him so calm in this type of situation. Maybe just a huge account.
this is what i was doing on the demo acc before my pc broke,, it will be interesting to see now if US news is green i just hope the traders that have ,,have sl on the trades..
  • #393,933
  • Aug 19, 2014 5:24am Aug 19, 2014 5:24am
I have 100 pips in the red as well but I am not worried since I am sure it will retrace. the moves are a bit late and if I see evidence in the crosses today gbp/cad, eur/gbp and gbp/nzd I will take a big long position tomorrow before BoE. It is going back to 1.70.
  • #393,934
  • Aug 19, 2014 5:30am Aug 19, 2014 5:30am
Quoting maximinus
{quote} Yes, I'm short UJ and UC but in red ATM. Shit happens, it's all part of this business.
yep - I'm long UC lol - will add on a break of 10920 if it happens - haven't traded UJ for ages - it's gone a bit like the old days there - price kept between 10100/10300 most of the year ...
  • #393,935
  • Aug 19, 2014 5:31am Aug 19, 2014 5:31am
good luck to all
there is a difference between having a stop loss and not using a stop (apart from the obvious)..many use a stop loss out of fear some use it because of rules..the 2 are quite different..same as cutting a loss..some do it out of fear..some do it because of rules..i think it is important for one's selve to question why they use it?

trading is about eliminating emotion so u can see the chart signals without a cloud of smoke over your head..so dont delude yourself!!
trade safe folks
  • #393,936
  • Aug 19, 2014 5:33am Aug 19, 2014 5:33am
Thanks for filling the gap (a further 200 pips for me)..... now time to consider where to enter long.... we are not there yet though...
Peace & Pips
  • #393,937
  • Aug 19, 2014 5:33am Aug 19, 2014 5:33am
Quoting Hickson
{quote} I have no idea. But regardless of that, he must have enough confidence in holding these positions normal people would probably only trade in microlots.
Having $2 billion account scalping for fun is above average traders
  • #393,938
  • Aug 19, 2014 5:36am Aug 19, 2014 5:36am
Quoting Ken A
{quote} Having $2 billion account scalping for fun is above average traders
lol ...
Fix up, trade sharp ...
  • #393,939
  • Aug 19, 2014 5:37am Aug 19, 2014 5:37am
Quoting chazzle
{quote} yep - I'm long UC lol - will add on a break of 10920 if it happens - haven't traded UJ for ages - it's gone a bit like the old days there - price kept between 10100/10300 most of the year ...
By UC I meant usdchf not cad. I'm confident with this trade and I target 0.9016
UJ, agree with you they play ping pong 10140/10280.
Don't be smart. Be rich.
  • #393,940
  • Aug 19, 2014 5:48am Aug 19, 2014 5:48am
Quoting maximinus
{quote} By UC I meant usdchf not cad. I'm confident with this trade and I target 0.9016 UJ, agree with you they play ping pong 10140/10280.
oh , ok - then with my EU long , we agree - good luck
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