Closed half position out @ 3751 (+100pips) and placed s/l on remaining portion at BE+25pips. Slowly making back loss from earlier in week. Done for today.

Cable Update (GBPUSD)

To an extent, I agree with what you say. However, I traded short the break for a scalp (which is not your style, as you've said). I then flipped position and went long at 51 when there was no follow through.

Cable Update (GBPUSD)

Think you're wrong, particularly if daily closes some distance from it. If we cross it a couple more times today and daily is below, then its relevance is lost..

Cable Update (GBPUSD)

hopefully, 3680 starts to once again provide support, particularly if daily closes some distance from there.

Cable Update (GBPUSD)

I'll give you a lot of respect for putting your neck on the line with your trade calls, particularly as they are normally counter-trend. I wouldn't criticise anyone for that, even if I disagree with their directional outlook. Anyway, we're both on ...

Cable Update (GBPUSD)

That was inevitable...

Cable Update (GBPUSD)

am on lowest lot size that i trade, so cautious approach at this stage. watching price action like a hawk....

Cable Update (GBPUSD)

Come on troops!!

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with you both. long at 51. very low leverage at the moment, so I have plenty more bullets waiting is she goes even lower

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come to London! i'll shout you a pint of London Pride... i won't be able to afford any foreign ales,,,

Cable Update (GBPUSD)

Fundamentals, not monthly stoc's, will determine whether Cable tests 1.05. Personally, I doubt very much whether it will go this low, but I could be wrong. A potential toxic mix of nationalised, insolvent UK banks, huge spike in unemployment and ...

Cable Update (GBPUSD)

Wait a couple of days, old chap, and you'll be able to afford London too.

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Agreed again. Japan is a surplus nation, with low domestic demand compared to many developed countries, meaning the export sector is crucial for any growth. Even a sternly worded verbal intervention could, at this stage, spook the market and cause a ...

Cable Update (GBPUSD)

You're right, the yen is killing it across the board, against the euro, dollar and, especially, sterling.

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I can't see that being true, EO.

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Okay, so it sometimes relies on arbitrary actions from a human operator? So, by definition, it cannot be 100% guaranteed, as all humans are flawed to some degree and susceptible to errors in judgements. GET IT!

Cable Update (GBPUSD)

It'll be enough from me, so long as you don't keep saying it is a 100% system, because that is just dishonesty, or stupidity, on your part. There needs to be constructive critique on these public forums, so that new traders hear both sides of the ...

Cable Update (GBPUSD)

This is bullshit, your model doesn't have to work. What happens if it is announced over the newswire that, for example, Barclays, HSBC, Lloyds and RBS have all admitted to being insolvent and not telling the truth about the extent of their losses ...

Cable Update (GBPUSD)

a.k.a. doubling up your bet on they way down and hoping for the best. unless you have unlimited money, which none of us do, it'll never work. this is a failed concept which has floored many traders and banks - think Barings.

Cable Update (GBPUSD)

Fair enough, I came out worse than you and lost 120 pips on that big overnight move. It just shows the pure radomness of the market and how the best algorithms can never beat the market 100% of the time. No system is ever 100%. Good luck.

Cable Update (GBPUSD)