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Cable Update (GBPUSD)

  • #443,061
  • Oct 7, 2016 4:05am Oct 7, 2016 4:05am
Quoting Tradingdude
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
Ha ha ha thanks m8. (Just kidding, am not a broker).
  • #443,062
  • Oct 7, 2016 4:05am Oct 7, 2016 4:05am
After all it is not our game we are just merely along for the ride, sometimes we fail to remember this. Tricky game.
There will be more of this for sure - The time tells you as much as you need to know - the rest is obvious, when napolean said the sleeping bear shall awaken then it is time to not sleep - they made their point for sure. Algos is probably the most lame excuse ever created but so easy to say and how you going to disprove it - logic reminds you again its not your game after all.
  • #443,063
  • Oct 7, 2016 4:08am Oct 7, 2016 4:08am
Quoting Tradingdude
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
You're right lots of peoples account went poof but lots of people also made money, I for one was on the right side of the move I got very lucky I mean very lucky I closed my position 30 minutes prior to this move and opened positions in the direction of the move if I didn't do what I did my account would have been blown as well but now it's up 200% in 5 minutes
these moves happen about once a year or even more. It wasn't like this before but Forex's behavior has changed dramatically within the last 10 years.
These kinds of moves are kind of becoming a normal behavior, a good trader should adapt to such.
  • #443,064
  • Oct 7, 2016 4:09am Oct 7, 2016 4:09am
Quoting Tradingdude
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
risk management is useless without a strategy, and any good strategy will tell you to respect the trend
I'm high on trading, cant you tell?
  • #443,065
  • Oct 7, 2016 4:10am Oct 7, 2016 4:10am
Too bad to say i had a long gbpusd and a short eurgbp almost like everyone did. I had my stops, but they were a bit far away. Both stops got hit, but the one thing im glad about is that my account wasn't wiped out. I saw that several brokers had lows for gbpusd near 1.14 , while highs for the eurgbp at 0.96 , if my stops were not hit and the slide continued then my account would have gone to zero. i dont know about other brokers, or if people's stops were hit or there was big slippage, but my account with AHMZ TradeFX (ahmz.com) , the stops got triggered thankfully and im out although i had a few pips of slippage but its better than a few hundred. I dont think i will trade gbp for sometime.
  • #443,066
  • Oct 7, 2016 4:12am Oct 7, 2016 4:12am
Quoting Robot
{quote} You're right lots of peoples account went poof but lots of people also made money, I for one was on the right side of the move I got very lucky I mean very lucky I closed my position 30 minutes prior to this move and opened positions in the direction of the move if I didn't do what I did my account would have been blown as well but now it's up 200% in 5 minutes these moves happen about once a year or even more. It wasn't like this before but Forex's behavior has changed dramatically within the last 10 years. These kinds of moves are kind...
Read my mind.
  • #443,067
  • Oct 7, 2016 4:14am Oct 7, 2016 4:14am
Quoting Robot
{quote} You're right lots of peoples account went poof but lots of people also made money, I for one was on the right side of the move I got very lucky I mean very lucky I closed my position 30 minutes prior to this move and opened positions in the direction of the move if I didn't do what I did my account would have been blown as well but now it's up 200% in 5 minutes these moves happen about once a year or even more. It wasn't like this before but Forex's behavior has changed dramatically within the last 10 years. These kinds of moves are kind...
thats great bro , but what was your indicator or reason to close and then short ?
  • #443,068
  • Oct 7, 2016 4:15am Oct 7, 2016 4:15am
Quoting Sammih
{quote} risk management is useless without a strategy, and any good strategy will tell you to respect the trend
what kind of strategy are you talking about ? what would have been done to such movement ?
  • #443,069
  • Oct 7, 2016 4:17am Oct 7, 2016 4:17am
Quoting kulme
{quote} because -470 pips in your account? if it is the cause of it, you will call all forex broker is a scam company. I have $22k right there. make withdrawal yesterday and processed in under 12 hours.
you should ask why,

I placed a buy order on two platform fxpro amd fxtm
when i check fxpro order was not filled but fxtm made a move just to filled the order and that a fraud
  • #443,070
  • Oct 7, 2016 4:17am Oct 7, 2016 4:17am
Quoting Tradingdude
{quote} what kind of strategy are you talking about ? what would have been done to such movement ?
any strategy. One that respects the trend. We are a strong bear market. A good strategy would be to short.

look at the statistics, the shorts have been making money all along. But most retail traders for one reason or another just couldn't believe the market was going down. I have written here on this thread that we should trade what we see, not what we expect. This move has been very profitable to some.

If I could just ask anyone who was long why they were, Id be interested to hear the answer.

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
I doubt the daily candle will have such a long wick, yours is a good trade
Attached Image (click to enlarge)
Click to Enlarge Name: shorts.png Size: 26 KB
I'm high on trading, cant you tell?
  • #443,071
  • Oct 7, 2016 4:18am Oct 7, 2016 4:18am
Hi Everyone,

I can see may loser, also few great winners.

that's why cable update little quite, Im a junior member, I cant advice about trading.

BUT I can advice one thing, never give-up, nothing is impossible. I hope most of senior members are willing to help with there experience and knowledge.

Good luck every one...
  • #443,072
  • Oct 7, 2016 4:19am Oct 7, 2016 4:19am
http://orders.forexlive.com/!/option...today-20161007
Don't Leave Money on the Table
  • #443,073
  • Oct 7, 2016 4:19am Oct 7, 2016 4:19am
Quoting 2012mysterio
{quote} 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..
On the move now 2150 ish try to cover any longs with big balls one could double the long lot size short but try to keep it in control as soon as be come tie it down nd see if it runs B
  • #443,074
  • Oct 7, 2016 4:20am Oct 7, 2016 4:20am
Quoting Sammih
{quote} any strategy. One that respects the trend. We are a strong bear market. A good strategy would be to short.
Did the SNB debecle follow the trend strategy on the day it happened?
  • #443,075
  • Oct 7, 2016 4:22am Oct 7, 2016 4:22am
Quoting Tradingdude
{quote} thats great bro , but what was your indicator or reason to close and then short ?
I don't use any indicators
Reason? 10 years of looking at charts helps me read these patterns something unfortunately can't be tought only experience we call it "price action"
  • #443,076
  • Oct 7, 2016 4:22am Oct 7, 2016 4:22am
Quoting Sammih
{quote} any strategy. One that respects the trend. We are a strong bear market. A good strategy would be to short.
When you expect a trend to be respected by the support, and then you think that new lows are being reached , most traders think about a bullish movement from new lows. Yet I failed to see that. I mean this movement havent been seen since 1985 & like i said the the worst part was hitting your S/L , that wasnt respected from several brokers
  • #443,077
  • Oct 7, 2016 4:26am Oct 7, 2016 4:26am
Quoting Robot
{quote} I don't use any indicators Reason? 10 years of looking at charts helps me read these patterns something unfortunately can't be tought only experience we call it "price action"
well you got that right, experience is something that cant be taught. I should have applied what my Broker recommended.
  • #443,078
  • Oct 7, 2016 4:30am Oct 7, 2016 4:30am
Quoting webizone
{quote} Did the SNB debecle follow the trend strategy on the day it happened?
I hope you are not implying that trading against the trend is a sound strategy
I'm high on trading, cant you tell?
  • #443,079
  • Oct 7, 2016 4:30am Oct 7, 2016 4:30am
Quoting Sammih
{quote} any strategy. One that respects the trend. We are a strong bear market. A good strategy would be to short. look at the statistics, the shorts have been making money all along. But most retail traders for one reason or another just couldn't believe the market was going down. I have written here on this thread that we should trade what we see, not what we expect. This move has been very profitable to some. If I could just ask anyone who was long why they were, Id be interested to hear the answer. {quote} I doubt the daily candle will have...
I am constantly amazed by these statistics
Come with me if you want to live....
  • #443,080
  • Oct 7, 2016 4:31am Oct 7, 2016 4:31am
Quoting elbert3
{quote} On the move now 2150 ish try to cover any longs with big balls one could double the long lot size short but try to keep it in control as soon as be come tie it down nd see if it runs B
Big balls indeed..something i learned about a few years now.. takes time to develop but yes! good points!
Its easy to shat oneself in these instances, but time again, can be recovered..and profit from..
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