Best Thread Live Cable Trading

[G-Man]

Bounce of 17100 fairly strong. Could be divergences setting up on hourly.

No entry as yet.

G-Man

 

[Mornington Crescent]

just a test against the old low

good place to add.

 

[Baruch]

Forget about bounces, this is a strong down trend - don't fight it!

TT

I agree. Never buck the trend...

 

[Kaffee]

On the taxpoint surely if you are doing decent size and are profitable you set up a limited company and pay a tax rate of just 19% on the first £300k. Spread bet spreads are too wide and paying 40% income tax is not necessary.

Spreads are ok... 4 on USD JPY, 3 on EUR/USD and cable.

Interesting about the limited company angle, but wouldn't NIC come into play ?

 

[Baruch]

9.30 gmt we get a lot of UK data - Sterling lending and so on. But how important are all that data? Anybody who knows...?

 

[turtle trader]

Forget about bounces, this is a strong down trend - don't fight it!

TT

A bit vague that wasn't it? What I mean is that it's setting new lows on all sorts of time frames, from monthly all the way down to 10 minutes. I'm sure there will be catchable bounces, but that's a much harder way to play this.

TT

 

[YachtFund]

This mornings figures are about money supply and government spending - above expectations could be inflationary and possibly mean holding off lowering interest rates, below means lowering rates sooner rather than later.

 

[bodebliss]

Look for another downward spike into the 1.700 area

institutional longs are giving up on rate hike soon

 

[Baruch]

This mornings figures are about money supply and government spending - above expectations could be inflationary and possibly mean holding off lowering interest rates, below means lowering rates sooner rather than later.

Nice to know. Thank you.

 

[zuke]

First rejection at 7100..here it comes again

 

[Baruch]

This mornings figures are about money supply and government spending - above expectations could be inflationary and possibly mean holding off lowering interest rates, below means lowering rates sooner rather than later.

So the data was bullish for Cable?

 

[zuke]

So the data was bullish for Cable?

I wouldnt say it was "bullish"..just not disatrous. You still be crazy to go long in a position trade right now imo. Could scalp some pips from dips though.

 

[Baruch]

I wouldnt say it was "bullish"..just not disatrous. You still be crazy to go long in a position trade right now imo. Could scalp some pips from dips though.

I (almost) always trade the news - and only the news. So I had to go long - with a tight stop... :cheesy:

 

[YachtFund]

So the data was bullish for Cable?

Neutral I think.

 

[Baruch]

Well, money supply was higher than expected - and now King from BOE is trying to talk up Cable according to the newswires...

Money supply: 1.1%. Expected: 0.7%.

 

[badtrader]

Who's the daddy

 

[Baruch]

Isnt it obvious who he is!!! Im not even trying and it sticks out like a sore thumb!!!!!

The Great Soultrader? :cheesy: :cheesy: :cheesy:

 

[rav700]

I (almost) always trade the news - and only the news. So I had to go long - with a tight stop... :cheesy:

Are you still long???

 

[Baruch]

Are you still long???

Yes.

 

[zuke]

Yes.

Quick Scalp Short @130..target and stop 20 pips. Still also short at 182