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Cable Update (GBPUSD)

  • #443,141
  • Oct 7, 2016 8:02am Oct 7, 2016 8:02am
Quoting HaLBot
{quote} Very nice print on Canadian jobs, will make Justin Trudeau even more popular if that's possible....LOL
True - how's you day been
Pretty mad last night
It all boils down to May- a complete loop when it comes to the economy
  • #443,142
  • Oct 7, 2016 8:02am Oct 7, 2016 8:02am
Quoting dean1star
Long gone .. well every other muther shorted so why not swim against the tide for a while 123 600
123.60 Long or Short ???
  • #443,143
  • Oct 7, 2016 8:04am Oct 7, 2016 8:04am
Quoting dean1star
Long gone .. well every other muther shorted so why not swim against the tide for a while 123 600
I think it's good to go long there...was umming and arrrrring due to being a bit gun shy at the moment....LOL so did'nt take the trade at 2350....could have picked up a quick fire 30 pips but not sure it'll break 2400 today
Don't Leave Money on the Table
  • #443,144
  • Oct 7, 2016 8:11am Oct 7, 2016 8:11am
Quoting Fader123
{quote} True - how's you day been Pretty mad last night It all boils down to May- a complete loop when it comes to the economy
Ahhhhhhhh Mate my confidence is shot to pieces right now so might have to wait till monday to take a trade...

I missed it going down, then the retrace and then I was at desk to take the short and then the retrace but I'm a bit stunned by the whole event as are a ton of traders I guess...
I don't use stop losses that much I rely more on hedging but after this event I'll be using stop losses everytrade at least 50 pips away not that I lost anything this time but I'm tipping more crazy volatility to come....
Don't Leave Money on the Table
  • #443,145
  • Oct 7, 2016 8:22am Oct 7, 2016 8:22am
Quoting dean1star
Long gone .. well every other muther shorted so why not swim against the tide for a while 123 600
Hey Dean, I run my own Carpentry business plus also do some commercial maintenance work and one of my customers is Matchbox Pictures here in Melbourne. I'd heard about Matchbox but it wasn't until I went to the offices and saw the work they have done just how big they are for an Australian Film Company, they've got an impressive resume...
Don't Leave Money on the Table
  • #443,146
  • Oct 7, 2016 8:32am Oct 7, 2016 8:32am
Like most people I was just staring at the screen going what is going on
I thought something really bad had happened
Got some of the retrace- on a 30 pip spread- then gave a bit back
Feel really sorry for some people here- some guy lost a whole account that he spent 3 years building up
Have a good weekend
  • #443,147
  • Oct 7, 2016 8:33am Oct 7, 2016 8:33am
Quoting HaLBot
{quote} Hey Dean, I run my own Carpentry business plus also do some commercial maintenance work and one of my customers is Matchbox Pictures here in Melbourne. I'd heard about Matchbox but it wasn't until I went to the offices and saw the work they have done just how big they are for an Australian Film Company, they've got an impressive resume...
Keep in with them if you can - props guys usually a good way - art dept stuff. Never made it to Melbourne.
Sydney yes, location and the old Olympic stadium for studio work. Great place and the crews were awesome.
No messing just doing ..
  • #443,148
  • Oct 7, 2016 8:36am Oct 7, 2016 8:36am
I can speak to you with a high degree of certainty ,with the rejection we saw
that low is the low without going up in coming weeks


Quoting Bones
all I can say is what I know to be true even gbp chf that move didn't take that last,then what next last time I'm more than happy to put my neck on the line rather than thinking with the crowd {quote} {image}
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,149
  • Oct 7, 2016 8:37am Oct 7, 2016 8:37am
Did not trade GBPUSD, NFP traded EURUSD (+30) and AUDUSD (+44) done for today....
  • #443,150
  • Oct 7, 2016 8:44am Oct 7, 2016 8:44am
enough all ready about Brexit ,the answer is not going to be for a long time each side is setting out a hard stance these weeks
May has told you she dose not agree with QE its not going further
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #443,151
  • Oct 7, 2016 8:56am Oct 7, 2016 8:56am
Quoting SadiaQureshi
{quote} 123.60 Long or Short ???
Long sorry was late getting back to you ..
  • #443,152
  • Oct 7, 2016 9:08am Oct 7, 2016 9:08am
Quoting dean1star
{quote} Long sorry was late getting back to you ..
what is long term trend of GBPUSD ?? Sell or Buy
  • #443,153
  • Oct 7, 2016 9:15am Oct 7, 2016 9:15am
if not today.. but surely will...
Attached Image (click to enlarge)
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  • #443,154
  • Oct 7, 2016 9:24am Oct 7, 2016 9:24am
Quoting SadiaQureshi
{quote} what is long term trend of GBPUSD ?? Sell or Buy
It is best to ask other traders here that question, some of them have really big crystal balls .. i just trade the moment.
  • #443,155
  • Oct 7, 2016 9:26am Oct 7, 2016 9:26am
[quote=Bones;9185573]enough all ready about Brexit

You promise Toney ..
  • #443,156
  • Oct 7, 2016 9:29am Oct 7, 2016 9:29am
Quoting dean1star
{quote} Keep in with them if you can - props guys usually a good way - art dept stuff. Never made it to Melbourne. Sydney yes, location and the old Olympic stadium for studio work. Great place and the crews were awesome. No messing just doing ..
Cheers M8 will do, yeah the opportunities would be significant if I can get into those areas....

This is something I'm reading just now from a Trader Boris Schlossberg and what he talks about is a strategy I've used for sometime without realising it's a stratedgy but it makes a whole lotta sense to me, could also call it dollar cost averaging if you wanted to put a technical name to it although he never mentions it. But I see it like this, why close out a position that's against you when everything is telling you it's going to head back to your buyin price? So better to buy more and when it does hit your BE on your first trade you are already in profit.

He Says:
"My favorite tactic is what we in our chat room call, the Boomer entry, where we will enter the trade at one level and if it goes against us we will add to the position allowing us to exit the trade at the original entry rather than the original take profit.
I know. I know. The horror! I am breaking one of the sacrosanct rules of people who never- actually-trade-with-real-money-but-like-to-peddle-trite-theories-of-risk-and-reward. Yes of course, I am increasing my risk and capitating my reward. Yes of course. such tactics require much higher win percentage to be profitable. And yes of course, they can lead to disaster if you dont properly balance the ratios. But instead of having a religious argument about risk and reward ( I am an atheist anyway) just do the following."

Full story here: http://www.bkforex.com/boris-schloss...s-random-baby/
Don't Leave Money on the Table
  • #443,157
  • Oct 7, 2016 9:29am Oct 7, 2016 9:29am
Quoting dean1star
{quote} It is best to ask other traders here that question, some of them have really big crystal balls .. i just trade the moment.
  • #443,158
  • Oct 7, 2016 9:33am Oct 7, 2016 9:33am
Does anyone know what was the biggest spread when the flash crash happened last night? My broker IKon Finance has a whoopie 280 pips spread. Is this normal?
  • #443,159
  • Oct 7, 2016 9:33am Oct 7, 2016 9:33am
Quoting dean1star
{quote} It is best to ask other traders here that question, some of them have really big crystal balls .. i just trade the moment.
For a long time I knew it'd go down to 1.2050......
  • #443,160
  • Oct 7, 2016 9:39am Oct 7, 2016 9:39am
Quoting joyaxiam
Does anyone know what was the biggest spread when the flash crash happened last night? My broker IKon Finance has a whoopie 280 pips spread. Is this normal?
My understanding is 'The Spread' is a function of liquidity, the more liquid the market the cheaper it is for your Broker to cover costs. Adam at my Brokers was telling me one day when I asked about "Did they have to pay for the trading platforms?" he said " They gotta pay for everything!"
We don't see it and we don't understand unless you worked in a brokerage the costs of running such a business.

So extreme Illiquid conditions mean very high costs to the Brokers so they pass that on by spread expansion...That's my understanding but I might be wrong..
Don't Leave Money on the Table
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