Ideas on Cable - Page 2
Page 2 of 18 FirstFirst 1 2 3 4 12 ... LastLast
Results 11 to 20 of 179

Thread: Ideas on Cable

  1. #11
    Join Date
    Jul 2013
    Posts
    2,540
    I'm for not trading Cable just at the moment (and I'm not trading it).

  2. #12
    Join Date
    May 2013
    Posts
    312
    Quote Originally Posted by lexys View Post
    I'm for not trading Cable just at the moment (and I'm not trading it).
    fair do's. It does make sense to protect your account balance in a period of uncertainty such as this at the the same time we could take advantage of it. I heard some people got in on a sell and chickened out at the last minute.

    Please. Tell me that you got in on a buy and lost, that would be less annoying.

  3. #13
    Join Date
    Feb 2013
    Location
    Scotland
    Posts
    5,274
    Unless you can see order flow and real volume, you cannot trade effectively intraday,although it is possible... Most of the time, without volume stats, the levels we see on charts are treacherous , to say the least.

    Therefore, ideas based on technical levels, especially if running counter to prevailing trends, can have no foundation in term of actual standing orders, and are effectively meaningless - just drawings we make on our chart... Sometimes the markets will honour these patterns, but there needs to be a lot of statistical study by a trader on any pattern he/she intends to specialise in, before trading it with confidence.

    The other issue is this: we are at the mercy of bigger players...Banks holding investments do not have stop losses, and have yearly (and quarterly) price forecasts, therefore a big one-day move will grab their attention but they will likely approach risk in a very different way from an individual trader or even a money manager...


    Sentiment, also, can override any news or data that disagrees with it, so that, for example if an index or currency enjoys bullish sentiment, it will downplay negative data to the point of extreme frustration for anyone who perceives the detachment between the data and the markets...

    Given all of the above, therefore, it could well be that bigger players than us will downplay the 'Brexit' furore and quietly build up a positive positioning on Sterling, based not on logic, or data, but on sentiment play that can be in discord with what is perceived to be the consensus.
    Last edited by PipMeHappy; 06-28-2016 at 03:02 PM.

  4. #14
    Join Date
    Jul 2013
    Posts
    2,540
    Quote Originally Posted by ropunzel View Post
    Please. Tell me that you got in on a buy and lost, that would be less annoying.

    Lol, sorry to disappoint, but my most recent Cable trade was actually in December.

  5. #15
    Join Date
    May 2013
    Posts
    312
    It does appear to be coming back a little. I think it might be time to get in.

  6. #16
    Join Date
    Jul 2013
    Posts
    2,540
    Yes, you're right: I see on the BBC today that both the Pound and the London stock exchange are correcting a little and showing intraday gains, this afternoon.

  7. #17
    Join Date
    May 2013
    Posts
    312
    Quote Originally Posted by lexys View Post
    Yes, you're right: I see on the BBC today that both the Pound and the London stock exchange are correcting a little and showing intraday gains, this afternoon.
    Can some trenders on here weigh in with some entry and exit ideas.

  8. #18
    I think the problem with trading GBP or EUR at the moment is that there is constant news. A lot of traders tend to close fx positions before scheduled important news events. With these two there is currently likely to be major unscheduled news at any time. So in a nutshell...high risk.

  9. #19
    Join Date
    Feb 2013
    Location
    Scotland
    Posts
    5,274
    Quote Originally Posted by Michaelfxstudy View Post
    I think the problem with trading GBP or EUR at the moment is that there is constant news. A lot of traders tend to close fx positions before scheduled important news events. With these two there is currently likely to be major unscheduled news at any time. So in a nutshell...high risk.
    I agree.

    For those of us already locked in long-term Pound or Euro trades, it is a different ball game: if you have not entered trades in those two currencies yet, maybe it is not quite the time to be trying to decide on a bias...
    Last edited by PipMeHappy; 06-29-2016 at 01:13 PM.

  10. #20
    Join Date
    May 2013
    Posts
    312
    Quote Originally Posted by PipMeHappy View Post
    I agree.

    For those of us already locked in long-term Pound or Euro trades, it is a different ball game: if you have not entered trades in those two currencies yet, maybe it is not quite the time to be trying to decide on a bias...
    Cool cool. The next EMA cross on 30min and I'm getting in to hell with it. All this hesitating has already cost me 200 pips.

    The most profitable trading I have ever done, on demo and in real life has been catching the spikes on High Impact News Release
    Last edited by ropunzel; 06-29-2016 at 02:30 PM.

Forum Sponsors

Similar Threads

  1. Replies: 0
    Last Post: 03-01-2007, 01:20 PM
  2. Replies: 0
    Last Post: 02-21-2007, 07:30 AM
  3. Cable Down Generally Ahead Of Services PMI
    By MoneyForex in forum Analysts
    Replies: 0
    Last Post: 02-05-2007, 01:24 PM
  4. Cable has the wave 4 completed?
    By babyfxtrader in forum Trading Systems
    Replies: 1
    Last Post: 02-01-2007, 05:24 AM
  5. Can the Cable sustain this level?
    By pristen in forum Trading Discussion
    Replies: 3
    Last Post: 12-04-2006, 03:20 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
"The less effort, the faster and more powerful you will be."
Bruce Lee