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Cable Update (GBPUSD)

  • #443,041
  • Oct 7, 2016 3:09am Oct 7, 2016 3:09am
Quoting adc
{quote} IG - 1.1207 Rgds, Angus
ActivTrades 1.2028

Different lowest number in every broker?
Don't trust me. I'm still newbie
  • #443,042
  • Oct 7, 2016 3:10am Oct 7, 2016 3:10am
Quoting niubee
{quote} ActivTrades 1.2028 Different lowest number in every broker?
I got 115 must be in the top 3 for lowest.
Must APPLAUD FXCM they handled this moment superbly, professionally and were on it in nanoseconds. Well done FXCM
  • #443,043
  • Oct 7, 2016 3:14am Oct 7, 2016 3:14am
Quoting e2274964
hoping to see more bear after NFP
let us hope to see a nfp that is against the dollar so we see a good pullback to short again, for now am watching
  • #443,044
  • Oct 7, 2016 3:17am Oct 7, 2016 3:17am
Quoting adc
{quote} IG - 1.1207 Rgds, Angus
we would see a retest of this gbp//usd low again but we need good retest
  • #443,045
  • Oct 7, 2016 3:24am Oct 7, 2016 3:24am
Forex used to be alot simpler 5 - 10 years ago. I am very worried that this manipulation by banks will increase as the global financial climate gets worse. Its very easy to say it was a rogue algorythm and get away with it or it was algorythms just following each other out of hours in low liquidity.

This type of manipulation will increase and become more regular I fear. Stops will not save people as these moves are too volitile to counter. We will see peoples consisent efforts to grow equity wiped out in 10 seconds by an algo.

I suppose only trading during London/US hours and I think a new rule to never hold open positions over night may protect to a degree. I am going to have a rethink on my trading strategy as I believe the days of longer term position trading is over as the risk is too high. I see much less risk now with intraday trades and this would be the way to go.

The other quesion is wether to carry on with forex at all and just stick with my stocks?

Much to think about.
  • #443,046
  • Oct 7, 2016 3:24am Oct 7, 2016 3:24am
Quoting Scoobidoobi
{quote} Sorry I can't disclose it/confidential. Its 50000 standard lots is what I understand giggsy
ok tks
  • #443,047
  • Oct 7, 2016 3:27am Oct 7, 2016 3:27am
Quoting 2012mysterio
{quote} sorry for your loss (or potential loss) Billy. maybe we will see some of it back the other way soon. Good luck.
Thanks but 3 years now it's has grown very well only took money out 1 time so it's not a big acc problem feel sorry for them with smaller acc and it shows sl has to be on at night time last night nearly 700 traders were logged in to the thread . Just keep to my way of trading and keep the losing trade as stock and try to make up the pips to keep the acc stable . Trade with confidence . Gl regards B
  • #443,048
  • Oct 7, 2016 3:28am Oct 7, 2016 3:28am
Quoting el_duende
Forex used to be alot simpler 5 - 10 years ago. I am very worried that this manipulation by banks will increase as the global financial climate gets worse. Its very easy to say it was a rogue algorythm and get away with it or it was algorythms just following each other out of hours in low liquidity. This type of manipulation will increase and become more regular I fear. Stops will not save people as these moves are too volitile to counter. We will see peoples consisent efforts to grow equity wiped out in 10 seconds by an algo. I suppose only trading...
I may think the same

Manipulation of such happens overnight outside of LO/US hours

I may close everything after US close
Make money by doing the opposite of Giveachance aka loser
  • #443,049
  • Oct 7, 2016 3:29am Oct 7, 2016 3:29am
Quoting Sammih
I am not very surprised the market went this low, maybe I didnt expect it to do it in a minutes candle but it was on the cards. The market, post brexit, traded in a narrow range for over 70 days, when the break out happened, I expected a sharp move, maybe over 15-20 days, but a move nonetheless. This is what Im looking at, sell at 2500, stop at 2703 target 1.13. {image}
Hi, Sam.

Wow it's very low number
I have put short @1.2460 [email protected] [email protected].
I already target 1.25 since yesterday, but always hit my SL, maybe my SL to close (10 pips).
Now I set SL 30 pips, hope no more hit SL
Don't trust me. I'm still newbie
  • #443,050
  • Oct 7, 2016 3:31am Oct 7, 2016 3:31am
Quoting el_duende
Forex used to be alot simpler 5 - 10 years ago. I am very worried that this manipulation by banks will increase as the global financial climate gets worse. Its very easy to say it was a rogue algorythm and get away with it or it was algorythms just following each other out of hours in low liquidity. This type of manipulation will increase and become more regular I fear. Stops will not save people as these moves are too volitile to counter. We will see peoples consisent efforts to grow equity wiped out in 10 seconds by an algo. I suppose only trading...
Weakness will always be manipulated wherever it can be found. This seems like a door has been left open quite literally at the Bank. One point to note when the CHF had its moment it was quoted in the Press numerous times, that the pound dollar has set levels which protect its demise if such a situation were to occur or an attempt was made - guess Bullshit goes hand in hand with trading these days.
  • #443,051
  • Oct 7, 2016 3:32am Oct 7, 2016 3:32am
Quoting el_duende
Forex used to be alot simpler 5 - 10 years ago. I am very worried that this manipulation by banks will increase as the global financial climate gets worse. Its very easy to say it was a rogue algorythm and get away with it or it was algorythms just following each other out of hours in low liquidity. This type of manipulation will increase and become more regular I fear. Stops will not save people as these moves are too volitile to counter. We will see peoples consisent efforts to grow equity wiped out in 10 seconds by an algo. I suppose only trading...
I am instinctively reluctant to leave any positions open overnight for the reasons that you have cited. Furthermore, I would NEVER leave any position open during the weekend when broker platforms are inaccessible. Just imagine the size of a move that might be precipitated by say, a natural disaster or an act of terrorism that occurred on a Saturday! Traders would be powerless to take any action to counter the resultant huge move.
  • #443,052
  • Oct 7, 2016 3:34am Oct 7, 2016 3:34am
Quoting el_duende
Forex used to be alot simpler 5 - 10 years ago. I am very worried that this manipulation by banks will increase as the global financial climate gets worse. Its very easy to say it was a rogue algorythm and get away with it or it was algorythms just following each other out of hours in low liquidity. This type of manipulation will increase and become more regular I fear. Stops will not save people as these moves are too volitile to counter. We will see peoples consisent efforts to grow equity wiped out in 10 seconds by an algo. I suppose only trading...
I have a solution for that. trading should be halted after US hours close till tokyo arrives. prob is these bastards have become so greedy and lack of knowledge among new traders that high leveraged positions get butchered in these 3 hours
  • #443,053
  • Oct 7, 2016 3:37am Oct 7, 2016 3:37am
Quoting dean1star
{quote} Weakness will always be manipulated wherever it can be found. This seems like a door has been left open quite literally at the Bank. One point to note when the CHF had its moment it was quoted in the Press numerous times, that the pound dollar has set levels which protect its demise if such a situation were to occur or an attempt was made - guess Bullshit goes hand in hand with trading these days.
I agree, the cynic in me says BOE would have been aware of these US banks actions and chose to let it play out, mutual benefit to each other
  • #443,054
  • Oct 7, 2016 3:38am Oct 7, 2016 3:38am
Quoting el_duende
Forex used to be alot simpler 5 - 10 years ago. I am very worried that this manipulation by banks will increase as the global financial climate gets worse. Its very easy to say it was a rogue algorythm and get away with it or it was algorythms just following each other out of hours in low liquidity. This type of manipulation will increase and become more regular I fear. Stops will not save people as these moves are too volitile to counter. We will see peoples consisent efforts to grow equity wiped out in 10 seconds by an algo. I suppose only trading...
Sorry to hear you suffered a loss there M8 and anyone else who got hammered, this time around I was lucky not to be trading but I usually don't trade Asian session as either working or just don't do it due to low liqidity. But on the odd occasion I do, so lucky I didn't. This time around I was working and checked the charts on mobile and stunned to see this 800 plus pip move down(bigger than Brexit), at first I thought some terrible world event had happened....

I'm trying to workout % of Algos in retail forex.....something like 20% wouldn't be exagerating things, maybe more and trading is never going back to the way it was, Algos are here to stay with more and more every year and getting more complicated than ever.
Do some research on Trading Algos and you'll be amazed at what's going on. Algos are literally going to war with each other in Hyperspace, but you won't understand what I mean unless you do the research yourself...
Don't Leave Money on the Table
  • #443,055
  • Oct 7, 2016 3:39am Oct 7, 2016 3:39am
until now BOE has not said a word about flash crash which makes me worried. I suspect it was a bad finger but I am sure he will come back again to hammer the pound to 1.18. if 1.14 was the low registered by reuters I think we have the lows for decade now.
  • #443,056
  • Oct 7, 2016 3:49am Oct 7, 2016 3:49am
Quoting HaLBot
{quote} Sorry to hear you suffered a loss there M8 and anyone else who got hammered, this time around I was lucky not to be trading but I usually don't trade Asian session as either working or just don't do it due to low liqidity. But on the odd occasion I do, so lucky I didn't. This time around I was working and checked the charts on mobile and stunned to see this 800 plus pip move down(bigger than Brexit), at first I thought some terrible world event had happened.... I'm trying to workout % of Algos in retail forex.....something like 20% wouldn't...

Cheers mate, its not the money loss that bothers me its the state of play in forex atm and how it has transformed over time.

I also worry about global finance markets and there is going to be one hell of a worldwide resession coming.

Worrying times.
  • #443,057
  • Oct 7, 2016 3:59am Oct 7, 2016 3:59am
Quoting elbert3
{quote} Thanks but 3 years now it's has grown very well only took money out 1 time so it's not a big acc problem feel sorry for them with smaller acc and it shows sl has to be on at night time last night nearly 700 traders were logged in to the thread . Just keep to my way of trading and keep the losing trade as stock and try to make up the pips to keep the acc stable . Trade with confidence . Gl regards B
thanks Billy, good trading..
  • #443,058
  • Oct 7, 2016 4:00am Oct 7, 2016 4:00am
Quoting niubee
{quote} Hi, Sam. Wow it's very low number I have put short @1.2460 [email protected] [email protected]. I already target 1.25 since yesterday, but always hit my SL, maybe my SL to close (10 pips). Now I set SL 30 pips, hope no more hit SL
yes, 10 pips on the cable is too tight, I prefer 50 and above
I'm high on trading, cant you tell?
  • #443,059
  • Oct 7, 2016 4:01am Oct 7, 2016 4:01am
Cable just killed everyone and stood up, this is similar to the Swiss but the difference was that the Swiss laid down there.
These things just remind us that there is nothing that those risk management strategies would prevent losses.
for every 7 long there was 1 short. this is just indicating that a hurricane is arriving and it did.
congrats brokers , you just got richer
  • #443,060
  • Oct 7, 2016 4:02am Oct 7, 2016 4:02am
Quoting Sammih
{quote} yes, 10 pips on the cable is too tight, I prefer 50 and above
Same or much more even.. 10p sl? insane that would be on any pair, let alone cable .. probably a 90% lose rate.. anyway to each their own style..
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