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Cable Update (GBPUSD)

  • #444,661
  • Oct 28, 2016 2:27pm Oct 28, 2016 2:27pm
Missed on my projections for the action in Gbp/Usd yesterday - got stopped out for a whopping 7 pip profit - but long again today from 1.2140. They can keep selling it, sure, but they won't keep selling it forever. So far, I have no huge profits to show for my faith in sterling's recovery, but I've carefully tested the waters at low risk entry points, so after about 4 or 5 attempts to buy and hold for major pips, I'm only down about 20 pips total - and that's not figuring in the 50 pip profit I'm showing sliding into the end of today. That's basically my strategy - just keep taking small shots here and there until I hit it right.
Writer, currency trader, madman
  • #444,662
  • Oct 28, 2016 2:29pm Oct 28, 2016 2:29pm
Quoting Rag2RichesFX
{quote} Damn that's some serious leverage. Although I'm assuming you keep only a very small portion of capital I your account so it's probably not as leveraged as it looks.
Correct, just a small portion of the capital. One advantage of doing it this way is that you're protected from total blowout.
  • #444,663
  • Edited 2:59pm Oct 28, 2016 2:45pm | Edited 2:59pm
Looks like both longs and shorts made money today

Unless you forgot to TP

Quoting hilmy83
{quote} Correct, just a small portion of the capital. One advantage of doing it this way is that you're protected from total blowout.
It's smart to diversify risk across brokers, banks, cash, metals, etc. I do that too. Especially brokers. I've seen too many go under, even very reputable ones don't feel safe from potential black swan now. Although, I have a feeling that as long as nobody trades pegged pairs anymore, we won't be having any problems. As far as I know, the Flash Crash to 1.20-1.15 (depending on broker), didn't wipe out any brokers. But it did wipe out some individual accounts, of course.

Quoting hilmy83
{quote} getting direction right, timing bit off, o well. Good day nonetheless {image}
direction > timing

well, unless timing implies you get direction right.

often though if i get direction right but timing wrong money is still made because I add to positions instead of closing for small losses. I never add more risk than 5%, it's not martingale, just simple averaging. I also average up once the trend turns (pyramid).
Be hopeful in a winning position, and fearful in a losing position.
  • #444,664
  • Oct 28, 2016 3:45pm Oct 28, 2016 3:45pm
16:45 = 1.21 87 H= 1.22 11
I won't be surprised if this is a significant top . SL @ 1.22 70
  • #444,665
  • Oct 28, 2016 3:48pm Oct 28, 2016 3:48pm
Good advice on diversifying, Rag - One of the lessons I've learned most firmly about trading is that the trades I'm "sure" will be winners often don't turn out that way, while the trade I consider questionable or purely a crap shoot often ends up paying off hugely. I've seen it time and again, where I put on one trade I feel great about and one where I just think I'm taking a flyer that "might work" - and it's the latter one that makes me a pile of money, while I get stopped out of the "great" trade in less than an hour.
Writer, currency trader, madman
  • #444,666
  • Oct 28, 2016 6:37pm Oct 28, 2016 6:37pm
Quoting Ill-b-back
{quote} lol, yeah, I wish it was always that simple But it is encouraging I will say this though. It never ceases to amaze me how often the statistical herd on the data page seem to have it all upside down. Just my own observation of course...
This trader may be skewing the data a bit.

http://www.forexfactory.com/aliqazi#acct.87
Be hopeful in a winning position, and fearful in a losing position.
  • #444,667
  • Oct 28, 2016 10:02pm Oct 28, 2016 10:02pm
Quoting Rag2RichesFX
{quote} This trader may be skewing the data a bit. http://www.forexfactory.com/aliqazi#acct.87
On first impressions yes.
Except the bulls average entry is 1.24.
All of that guys entries are well below 1.24, which begs the question:
How many entries are therefore ABOVE 1.24?
Come with me if you want to live....
  • #444,668
  • Oct 29, 2016 3:07am Oct 29, 2016 3:07am
Quoting Wdfx
{quote} Very interesting - don't miss it...
Constructive Amburguity says Henry K says it all really WD, not convinced on some aspects due dilligence always shows in the content level for research when you make a TV programme. Can see it as a festival piece if cut down on an edit into symetrical order, nothing new but an interesting overview of the state of play in general. Infact would go as far as to say a great reminder of the state of play so far. Question being so we know the past but where are we headed for the future. Similar to this place, infact these days this place takes precedent in the structure of peoples opinions which are so so off the radar for the most part if not indeed most of the time, and they call themselves traders lol how dare they brothers and all. As with the markets shall be keeping a watchfull eye on the future too ..

Long and still long 3 trades.

Next year is a year off for me and the following year moving to an Island on the other side of the sunny Med, gonna watch it all go off from there lol
  • #444,669
  • Oct 29, 2016 7:04am Oct 29, 2016 7:04am
"Next year is a year off for me and the following year moving to an Island on the other side of the sunny Med, gonna watch it all go off from there "

The goal of trading is, of course, to be able to stop trading.
Writer, currency trader, madman
  • #444,670
  • Oct 29, 2016 7:26am Oct 29, 2016 7:26am
Quoting jbmaverick
"Next year is a year off for me and the following year moving to an Island on the other side of the sunny Med, gonna watch it all go off from there " The goal of trading is, of course, to be able to stop trading.
Its funny JB just read somewhere that Goldman Sachs posted an annual return on its Forex activities as the best ever, wonder how they managed to algo that one in, think their modus operandi says continue forwards always and never stop .. makes you think some.
  • #444,671
  • Oct 29, 2016 12:06pm Oct 29, 2016 12:06pm
Quoting jbmaverick
"Next year is a year off for me and the following year moving to an Island on the other side of the sunny Med, gonna watch it all go off from there " The goal of trading is, of course, to be able to stop trading.

Maybe for you. The goal for me is "more".

I will trade until I need help going to the shitter.

The money isn't all for me. I like to help others.

I mean sitting on the beach all day sounds enticing when you are working hard, but when you are actually doing it, you want to be back at work.

I don't think I could ever retire. I would be too bored.
Be hopeful in a winning position, and fearful in a losing position.
  • #444,672
  • Oct 29, 2016 12:46pm Oct 29, 2016 12:46pm
I like to help others, too, but once I've got $2 million in the bank, I think I can help them earning an easy 12-14% interest on something that I don't have to get up at the crack of dawn to keep an eye on.
Writer, currency trader, madman
  • #444,673
  • Oct 29, 2016 1:09pm Oct 29, 2016 1:09pm
Quoting jbmaverick
I like to help others, too, but once I've got $2 million in the bank, I think I can help them earning an easy 12-14% interest on something that I don't have to get up at the crack of dawn to keep an eye on.

At least you don't have to wake up at 11pm and trade until 11am

Then sleep until dinner.

I need to move to Europe.

I find trading enjoyable, but I know others find it boring and just want to make X amount and retire.
Be hopeful in a winning position, and fearful in a losing position.
  • #444,674
  • Oct 30, 2016 10:49am Oct 30, 2016 10:49am
Hey Rag, I really appreciate your insight on Cable! Keep up the good work!
  • #444,675
  • Edited 11:58am Oct 30, 2016 11:15am | Edited 11:58am
not a lot of change in 14 days ,have to see how we open ,Tuesday new month
flash wick has held back moves to downside ,but failure to capitalise on that wick has held buyers
2 week is doji after wick ,prob not enough on its own to feel overly bullish thinking about gaps
USD I have looked into Clinton and Trump seems to me the most distasteful is Clinton by a long way could well be a surprise
on the horizon ,USDX gives insight into the ugly nature cable trend spending considerable portion of year in side mode





Quoting Bones
my d1 looks like month open major issue side seen (196p w1 range) long wick but data change on mine up since flash and other numbers out there ,what to believe {image} {image} {image}
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 1 gbp USD d1 (DFB).png Size: 38 KB
Click to Enlarge Name: 2 gbp USD 2 w (DFB).png Size: 20 KB
Click to Enlarge Name: 1 US Dollar Basket w1 (DFB).png Size: 37 KB
Click to Enlarge Name: 2 US Dollar Basket d1 (DFB).png Size: 43 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #444,676
  • Edited 12:35pm Oct 30, 2016 12:01pm | Edited 12:35pm
w1 looks like ,
guess Trump made it would bring uncertainty like Brexit ,but its better than unhealthy situ as UK ,EU
structure is wedge like ,were talking all time low zone
Obvious Carney wont be able to lower rates going into next year will have to act on inflation
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 3 gbp USD w1 (DFB).png Size: 50 KB
Click to Enlarge Name: 1 gbp USD Q (DFB).png Size: 34 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #444,677
  • Oct 30, 2016 1:42pm Oct 30, 2016 1:42pm
gbpusd is now 1.2155...
  • #444,678
  • Oct 30, 2016 2:04pm Oct 30, 2016 2:04pm
"At least you don't have to wake up at 11pm and trade until 11am...I need to move to Europe"

ALL forex traders need to live in Europe, since it's the London session where all the action usually happens. Being in the States, I usually have to get up at 3-4 AM for the London open. If I don't, I usually regret it, since if I sleep in till 7, I almost inevitably see that I missed a major market move that occurred somewhere between 4 and 6 AM my time. Case in point, Friday I could have picked up Gbp/Usd around 1.2120 instead of 1.2140 if I'd gotten my lazy butt out of bed earlier.

I try to avoid watching the Tokyo session, as that bad habit has often led to spending nearly 24 hours straight watching the #%@& forex markets.
Writer, currency trader, madman
  • #444,679
  • Oct 30, 2016 2:17pm Oct 30, 2016 2:17pm
Let me post here this chart showing a possible move in GU Daily. Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: Cattura GU.PNG Size: 94 KB
Per aspera ad astra
  • #444,680
  • Oct 30, 2016 2:33pm Oct 30, 2016 2:33pm
Same here, i live in peru and the time zone sucks.





Quoting jbmaverick
"At least you don't have to wake up at 11pm and trade until 11am...I need to move to Europe" ALL forex traders need to live in Europe, since it's the London session where all the action usually happens. Being in the States, I usually have to get up at 3-4 AM for the London open. If I don't, I usually regret it, since if I sleep in till 7, I almost inevitably see that I missed a major market move that occurred somewhere between 4 and 6 AM my time. Case in point, Friday I could have picked up Gbp/Usd around 1.2120 instead of 1.2140 if I'd gotten my...
Im a Crocodile, Im a Sniper. Patience is everything.
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