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Cable Update (GBPUSD)

  • #395,701
  • Sep 1, 2014 10:19am Sep 1, 2014 10:19am
Quoting PoundTrader
{quote}good mourinng brother!, who knows who cares, so how trading life been?
Trading life?
Ghost Rider - WWTBMD?
  • #395,702
  • Sep 1, 2014 10:19am Sep 1, 2014 10:19am
long @1.66100
  • #395,703
  • Sep 1, 2014 10:23am Sep 1, 2014 10:23am
Quoting Bones
yea I guess ,I guess thats what hda sees ,but I'm not sure if that has anything to do with institutional accounts specifically , {quote}
Yeah I really don't know either. I suppose anything can be available for the right price.

I don't think you "need" an institutional account to purchase (rent?) a tier II feed. I think the feed just comes with an institutional account. For what it take to open one, it better! LOL
Ghost Rider - WWTBMD?
  • #395,704
  • Sep 1, 2014 10:35am Sep 1, 2014 10:35am
Quoting GlobalMacro
in long @ 1.6570 , t / p : open , s / l : 1.6519 {image}
Taking half off @ 1.6620 for +50 pips and letting the rest run...

The position is now risk-free. Why?
Because : 1.6620 - 1.6570 = +0.0050
realized half => 1/2 x 0.0050 = +0.0025
Remaining risk @ 1.6520 => 1/2 x -0.0050 = -0.0025
=> 0.0025 - 0.0025 = 0 i.e. risk-free.


Folks please note :
THIS is proper risk management , NOT adding to losers and averaging without a stop loss !


Keeping the remaining position open like this:

long @ 1.6570

t / p : open

s / l : 1.6520


BBL

Attached Image
Hear the music before the song is over ...
  • #395,705
  • Sep 1, 2014 10:51am Sep 1, 2014 10:51am
I would never argue another's risk management. It is, and always will be a personal calculation and choice. But I agree 100% a stop loss level (total risk allowed for a trade or sequence of trades) should ALWAYS be assessed and calculated before entering.

Folks have all kinds of definitions for "adding to losers" though. Scaling into an area you have predetermined through proper analysis to be a good place for price to turn is not one of them in my book. If you're only guessing about that area, and then you keep adding as price moves away, THAT would not be a good thing.
Ghost Rider - WWTBMD?
  • #395,706
  • Sep 1, 2014 10:52am Sep 1, 2014 10:52am
Anyway, I can finally get away now. I'm out folks. Enjoy the day.
Ghost Rider - WWTBMD?
  • #395,707
  • Sep 1, 2014 12:54pm Sep 1, 2014 12:54pm
Quoting OnlineAddict
{quote} {quote} {quote} I will look into longs after 6597 is hit.
There is no way around 6597, we either hit it now and can continue the upmove or it will come back to it later.
Everyone can see the chart, but only a few can actually read it.
  • #395,708
  • Sep 1, 2014 1:39pm Sep 1, 2014 1:39pm
Quoting OnlineAddict
{quote} There is no way around 6597, we either hit it now and can continue the upmove or it will come back to it later.
Probably splitting pips here but I see 1.6604 (or 1.6600) as the more important support. Small break of 2 swing-points @ 1.6597 but not much momentum so maybe not too important as resistance. Low volume day so probably all is irrelevant but if this was all on a normal volume day this is the way I'd look at it. It might just drift right through both levels today. Could be wrong of course.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDM15-1.png Size: 29 KB
Click to Enlarge Name: GBPUSDH1-1.png Size: 27 KB
  • #395,709
  • Sep 1, 2014 2:02pm Sep 1, 2014 2:02pm
Trade confirmation
On 01-Sep-2014 at 18:44:38 (GMT)
You bought 1 GBPUSD @ 1.66118 for value date 03-Sep-2014
Front office position id: 141108757
Account: 5589929
Attached Image (click to enlarge)
Click to Enlarge Name: 1h.png Size: 67 KB
sl 6550 target as this morning 6674
  • #395,710
  • Sep 1, 2014 2:56pm Sep 1, 2014 2:56pm
The fucker is heading to 1.6251. Hope all them bulls have
Attached Image
  • #395,711
  • Sep 1, 2014 3:03pm Sep 1, 2014 3:03pm
LOL ... Hey! COLORS!
Ghost Rider - WWTBMD?
  • #395,712
  • Sep 1, 2014 4:42pm Sep 1, 2014 4:42pm
Quoting OnlineAddict
{quote} There is no way around 6597, we either hit it now and can continue the upmove or it will come back to it later.
Scratch that, its already invalid. Anything above 6600 should be a good long.
Everyone can see the chart, but only a few can actually read it.
  • #395,713
  • Sep 1, 2014 8:18pm Sep 1, 2014 8:18pm
Quoting OnlineAddict
{quote} There is no way around 6597, we either hit it now and can continue the upmove or it will come back to it later.
Interresting...so it was needed indeed.
Everyone can see the chart, but only a few can actually read it.
  • #395,714
  • Sep 1, 2014 8:25pm Sep 1, 2014 8:25pm
Is this spike a bear trap?
If you are new to FX don"t follow my trades, I 've blown many live accounts
  • #395,715
  • Sep 1, 2014 8:26pm Sep 1, 2014 8:26pm
Quoting mclon
Is this spike a bear trap?
Yep, looks like it.
Everyone can see the chart, but only a few can actually read it.
  • #395,716
  • Sep 1, 2014 8:36pm Sep 1, 2014 8:36pm
Stopped out of long @ 1.6610 for +42.
Waiting for re-entry long @ lower prices, maybe even new lows for this cycle. We'll see.
  • #395,717
  • Sep 1, 2014 10:25pm Sep 1, 2014 10:25pm
bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ;

Attached Image
  • #395,718
  • Sep 1, 2014 10:39pm Sep 1, 2014 10:39pm
fibs are amazing at times aren't they
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 35 KB
Click to Enlarge Name: GBPUSDWeekly.png Size: 31 KB
Come with me if you want to live....
  • #395,719
  • Sep 1, 2014 11:26pm Sep 1, 2014 11:26pm
Quoting Ill-b-back
fibs are amazing at times aren't they {image} {image}
Yes they are brother. I'm holding long. I see you have both bases covered.
Ghost Rider - WWTBMD?
  • #395,720
  • Sep 1, 2014 11:36pm Sep 1, 2014 11:36pm
Quoting PatienceFx
bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; bear trap ; {image}
6502 before anything else, a straight 80 pip poop
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