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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 3054
Posted: Feb 22, 2010 5:00
Comments: 3054
Forum Topic:
GBP
Discuss GBP
stop buy cable long @ 15200 stop buy cable short @15122
after all eur and gbp are not really rallying but rather usd is sold off
As for pretty boy(Euro) who know if we get out of this deficit debate and before it really has to crash say in another 5 to 6 years maybe we may end of see a new all time high by all means who knows 180 maybe.
Cause the way people are chanting on crisis after crisis and trust me one will come after another then we might aswell call for dollar to crash and bond market default and securities to find more buyers from lower levels for longer term and commodities to stabilise unless we want a big global war.
i see stupid people.
:)
That is probably your best and most sincere post yet. Thanks
LEARN TO LOOK FOR EARLY SIGNS OF A MARKET FAILURES
Other than losing money on uncertain recommendation daily and frequently, learn to play the market failures/breakouts/trend reversals/ or the big players themselves, and there and then go in big with a single position or a couple.
ALWAYS ALLOW ROOM FOR RISK IN YOUR ANALYSIS
Absence of black is not white!!!! Always remember that. Learn to hedge and learn some good strategies if you can from some experts. Market or Economic analysis are always good for placing your judgement in favour of the right trend. Dont always be too quick to judge no mater how short or long term analysis are deemed, market action always take its time to play and will only hit targets when the price is right for majority of participants. Over wise we will have one sided play.
LEAVE HOPES & PRAYERS ARE FOR CHURCH'S, SYNAGOGUES AND MOSQUES
Never rely on hopes and prayers for your price action to get you your price. Always enter and hold your position in the trend that holds more significances or is more recent (if it was significant) or is in line with any wider macro change. Only close those hedged positions that are suppose to be short lived and reopen again as soon as you get a good price.
These are just some of things that I wanted to mention here based on how markets have been for this year, or you would and should follow them even if t was any market conditions. People need to stop thinking like bloody economist, and if your traders just follow the analysis and take them as you see and nothing more. No need to sell you home, wives and kids and put all your money on that one particular bet. Your analyst can be wrong from time to time and that is only natural as markets are truly unpredictable. So allow that bit acceptance in yourself and in your trading format that would also allow your analyst the encouragement to do right again. Every one has the right to their give their opinion, but please only do so if you know what you are talking about. Or remain astray like most sheeple are.
I wasn't in cable at the time.
There was a much smaller, but roughly corresponding jump up in EUR/GBP at a similar time.
Station - Looks like your right, but I had entered short already at 1.5144 hhhhhhhmmmmmmm
Guys - lets wait- My Stops are at 1.5215