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Cable Update (GBPUSD)

  • #435,941
  • Aug 5, 2016 8:49am Aug 5, 2016 8:49am
Quoting elbert3
{quote} Thanks for your last reply . E
You're welcome! And sorry for the delay!
Ubi maior minor cessat
  • #435,942
  • Aug 5, 2016 8:54am Aug 5, 2016 8:54am
Lock... you should try to invest little in this as it will help you get more serious; You already have clear understanding of the psychological part of this and technical analysis of the trade, I assume you already know much more than what a demo account controller should know before entering a live account.

Just saying....
  • #435,943
  • Aug 5, 2016 9:06am Aug 5, 2016 9:06am
Quoting actionmoney
Lock... you should try to invest little in this as it will help you get more serious; You already have clear understanding of the psychological part of this and technical analysis of the trade, I assume you already know much more than what a demo account controller should know before entering a live account. Just saying....
Well I'm a trader, I mean, a person who live of this work. But one of my goals, maybe the most difficult in my profession, is a correct risk menagement. Today could also be profitable with my real account as it is with my demo one. But considering the lack of partecipation, the weakness of this market, etc. I opted for a "stay aside" approach. After years I understood that the real difficult thing it is not to be a "success" trader but a "live" person. And in order to obtain this, one has to be consistent with his or her decisions. If the market is too weak and I decided to not be part of it, this decision has to be carried forward even if something "exciting" could happen during the day. Furthermore, studying a market is in any way a sort of investment, at least in terms time.
Ubi maior minor cessat
  • #435,944
  • Aug 5, 2016 9:14am Aug 5, 2016 9:14am
Quoting Lock
{quote} Well I'm a trader, I mean, a person who live of this work. But one of my goals, maybe the most difficult in my profession, is a correct risk menagement. Today could also be profitable with my real account as it is with my demo one. But considering the lack of partecipation, the weakness of this market, etc. I opted for a "stay aside" approach. After years I understood that the real difficult thing it is not to be a "success" trader but a "live" person. And in order to obtain this, one has to be consistent with his or her decisions. If the...

Well stated
Live account will as well fetch you some more funds
  • #435,945
  • Aug 5, 2016 9:16am Aug 5, 2016 9:16am
Quoting elbert3
{quote} Your only demo ?
Yes I'm not involved in a market if I do not feel my self safe in to it. We are in August, ther is lack of liquidity, lack of partecipation and too much uncertainty. As I said before, people better then me could be profitable also in a market like this. As, for instance, my mentor was. But I'm not so good and unless I see some conviction I will stay aside. This does not mean that I will not trade up to September. It only means that I will decide day after day if the market condition will be good enough for me to work.
Ubi maior minor cessat
  • #435,946
  • Aug 5, 2016 9:26am Aug 5, 2016 9:26am
This NFP figure of 255K that has out shone even the most optimistic guesses could now weigh heavily on Cable attempting to regain the 3300 area.

1. Cable will start heading south with a bounce from the 2950 area and then continue downwards due to continued US recovery and expectations of a rate hike soon plus headaches in UK economy with the break away from Euroland

2. Cable will find support soon and head back up to the 3300 zone because the Markets are happy with the stimulus package put in place by the BOE and this stimulus package does actually work generating new levels of confidence in Business and People alike...
Don't Leave Money on the Table
  • #435,947
  • Aug 5, 2016 9:27am Aug 5, 2016 9:27am
3078*
  • #435,948
  • Aug 5, 2016 9:30am Aug 5, 2016 9:30am
Quoting HaLBot
This NFP figure of 255K that has out shone even the most optimistic guesses could now weigh heavily on Cable attempting to regain the 3300 area. 1. Cable will start heading south with a bounce from the 2950 area and then continue downwards due to continued US recovery and expectations of a rate hike soon plus headaches in UK economy with the break away from Euroland 2. Cable will find support soon and head back up to the 3300 zone because the Markets are happy with the stimulus package put in place by the BOE and this stimulus package does actually...
Sir, are you certain about this and what are the technical analysis for it.
  • #435,949
  • Aug 5, 2016 9:32am Aug 5, 2016 9:32am
Quoting Lock
Please note that 30568 is the absolute low of the weekly balance. So it is clearly a vip ref around here.

preUS period C and pit B and C periods all tagging absolute weekly balance low.
Ubi maior minor cessat
  • #435,950
  • Aug 5, 2016 9:43am Aug 5, 2016 9:43am
It wouldn't suprise me if GBPUSD is going to bounce back to the 1.31500 area later this evening. So many mixed signals can cause big week ending moves.
  • #435,951
  • Aug 5, 2016 9:44am Aug 5, 2016 9:44am
Quoting Lock
{quote} preUS period C and pit B and C periods all tagging absolute weekly balance low.
One might think it is easy changing over but until you use real money it is not . The only time it will get easy is when one builds up an account where if you make the wrong trade you have the funds to ride it out or you keep the trade and scalp long or short and fund the losing trade until it comes back and then you find your doubling your losing trade because of your covering scalps . I had 3 acc demo with olanda 3 times over 300 dollars from a 10 dollar fund , went live and in 2 weeks lost £6000 so stopped for 9 months and started again from 2 weeks before joining this mob lol . So careful tiger . Is the motto. Lol regards E
  • #435,952
  • Aug 5, 2016 9:49am Aug 5, 2016 9:49am
Quoting actionmoney
{quote} Sir, are you certain about this and what are the technical analysis for it.
No I am not certain about this, I'm putting it out there so others like yourself can comment and I'll get feedback to become a better trader....

There has been speculation of a rate hike in the US now for months and the Fed has said when conditions are right they will raise rates.
So a higher interest rate the more bullish it is for their currency and a lower interest rate means a more bearish outlook. That's the whole reason Cable plummeted yesterday
So with Stella NFP figures traders are thinking the Fed will raise rates sooner than expected so traders piled into Dollars today

As far as Britain goes if they do all they can to stave of the effects of Brexit and an economy that could go into recession then that will give confidence and a boost to the economy...Britains economy is not the behemoth like the US economy so can bounce back quicker if the right economic and political solutions are put in place.

It's a shame Brexit was not put back 6 months later because prior to Brexit Britain was starting to get some good economic figures come out and up until Brexit was Europe's second largest economy after Germany..
Don't Leave Money on the Table
  • #435,953
  • Aug 5, 2016 9:50am Aug 5, 2016 9:50am
Quoting HaLBot
This NFP figure of 255K that has out shone even the most optimistic guesses could now weigh heavily on Cable attempting to regain the 3300 area. 1. Cable will start heading south with a bounce from the 2950 area and then continue downwards due to continued US recovery and expectations of a rate hike soon plus headaches in UK economy with the break away from Euroland 2. Cable will find support soon and head back up to the 3300 zone because the Markets are happy with the stimulus package put in place by the BOE and this stimulus package does actually...

Completely agree, I still don't think a hike will happen but markets will be more open to the thought. Still holding my shorts for now, targeting the 1.29 range but will happy to close out earlier if need be.
Attached Image (click to enlarge)
Click to Enlarge Name: NFP 8-5.PNG Size: 36 KB
  • #435,954
  • Aug 5, 2016 9:56am Aug 5, 2016 9:56am
Quoting elbert3
{quote} One might think it is easy changing over but until you use real money it is not . The only time it will get easy is when one builds up an account where if you make the wrong trade you have the funds to ride it out or you keep the trade and scalp long or short and fund the losing trade until it comes back and then you find your doubling your losing trade because of your covering scalps . I had 3 acc demo with olanda 3 times over 300 dollars from a 10 dollar fund , went live and in 2 weeks lost 6000 so stopped for 9 months and started again...
You're telling a well known story for most of us. Even people now considered masters had to refill their accounts many times during early times of their careers. It is a very common experience. And also the difference between a demo and a real account is absolutely correct. In a demo account obviously you are not so psychologically involved. About the technique you use to cover part of a loosing position I cannot say something categorical: if it works for you, fine. For me it will be totally impossible. A different solution has been adopted by Jim Dalton: he generally covered his future positions with options and vice versa. Anyway he warned us about the difficulty of such an approach and so I never tried to emulate him.
Ubi maior minor cessat
  • #435,955
  • Aug 5, 2016 9:59am Aug 5, 2016 9:59am
will start longs from today onwards in this pair. significant damage is done. two longs loaded 1.3025 and 1.3050
  • #435,956
  • Aug 5, 2016 10:03am Aug 5, 2016 10:03am
Quoting Lock
{quote} Yes I'm not involved in a market if I do not feel my self safe in to it. We are in August, ther is lack of liquidity, lack of partecipation and too much uncertainty. As I said before, people better then me could be profitable also in a market like this. As, for instance, my mentor was. But I'm not so good and unless I see some conviction I will stay aside. This does not mean that I will not trade up to September. It only means that I will decide day after day if the market condition will be good enough for me to work.

Inserted Video


For you Lock- For your train is bound for glory
  • #435,957
  • Aug 5, 2016 10:10am Aug 5, 2016 10:10am
Quoting actionmoney
{quote} https://www.youtube.com/watch?v=mytkxNHYQOM For you Lock- For your train is bound for glory

Well, thanks!

"This Train Dont carry no Gamblers This Train..."
Ubi maior minor cessat
  • #435,958
  • Aug 5, 2016 10:11am Aug 5, 2016 10:11am
Quoting kuma666
{quote} Completely agree, I still don't think a hike will happen but markets will be more open to the thought. Still holding my shorts for now, targeting the 1.29 range but will happy to close out earlier if need be. {image}

That was fast, closed out shorts and put in a quick buy
Attached Image (click to enlarge)
Click to Enlarge Name: buy 8-5.PNG Size: 37 KB
  • #435,959
  • Aug 5, 2016 10:13am Aug 5, 2016 10:13am
Quoting Lock
{quote} You really deserve this because you're really trading it, while I'm only "demoing" it. By the way, I would like to see pit going up to 30735 at least in order to re-short it from above. (if pit will do it) Note that preUS is tagging the base of the old gb gao at 3019, at the pip.
Well, here we are. But it is friday and so.. I don't know.
Ubi maior minor cessat
  • #435,960
  • Aug 5, 2016 10:17am Aug 5, 2016 10:17am
Quoting kuma666
{quote} That was fast, closed out shorts and put in a quick buy {image}

Nice one.....

To late over here for me to respond to the markets.....still I'm happy with this weeks trading up 166% for the week and jump straight back in Monday around Euro opening....
Don't Leave Money on the Table
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