CatFx50 - page 295
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Not a silly Question!!
I asked this same question a few years ago over on another forum and the answer I was given..
Once there was an actual cable running from London to New York that used to carry stock prices.
Cheers
The term 'Cable' was given to GBP/USD because price was first transmitted via a cable that ran across the great pond from the UK to USA.
True!
let me ask a stupid question: does anyone know why they call GBP 'cable' ?
@reemul99 and @Ant
In the mid of the 1800's the rates between Pound Sterling and USD were transmitted via a transatlantic cable - therefore the name "Cable"
mibl
Thanks
Thanks all for clearing that up - makes perfect sense.
Now, if anyone can tell me why 'Cable' keeping ranging between 1.7500 - 1.7490, that would be great.
Something has happened to USD/CAD to make it move. I can see a consolidation 'cup and handle' formation on both the 30 min and 1hr charts which, in theory, means that pair should be a long trade on the break out. As I say, in theory.
Hi Mibl,
One question I have surrounding News releases and CatFx50.
If you still have open positions when upcoming news is set to be released, should you close the position? Or Roll the Dice and hope the news breaks your way?
Seems to me that holding is very risky, but if the news goes your way, you could see large profits.
...Perhaps Greenspan wasn't so far off about Forex trading being close to playing a coin-tossing game... 50/50 chance ...@reemul99: To your question about "holding or selling before news time" ...
No easy answer. Trading is not predicting the future, even when it seems so sometimes or someone tells you that. Trading has to do with weighing up the chance to the corresponding risk. When you enter a trade you must have weigh up in advance if you have a realistic chance on a good profit. And you had an "agreement with your brain" (or should I say emotions) which amount of money you accept to loose for this chance if you are not on the right side.
Against the backgroud of this agreement you should decide if your primary entry decision is still valid and on which conditions for the upcomming news you have a chance to come in profit zone. That depends on the general expectations for the news. Are the expectations very high it is very difficult to exceed them. So the chance for a reaction to the other side is greater.
Try to find an answer for you based on this issues.
For me - sometimes when I came to the decision that the winning scenario was getting smaller for my trade I closed it (when not in profit). When already in profit area I trailed the stop closer to the actual price to protect the current profit - even on the risk to be stopped out. But for me protecting the account is more important than to win on any price. Next time there is another chance to win.
mibl (going to bed now)
Thanks all for clearing that up - makes perfect sense. Now, if anyone can tell me why 'Cable' keeping ranging between 1.7500 - 1.7490, that would be great.
London is one of the biggest forex player and London is sleeping now and I should too.
mibl
Help
Hi all
In one of my earlier posts today i upload 2 pics where you all can see that there is a "little bug" with histogram indicator, so i need a little help from you guys in here. Since i can't be infront of the pc 24/7 i'm searching for a program that could take screenshoots automatically let's say every 30 min, this way i could study the screenshots when i get home. If anyone knows a program that could do this i will be delighted to know about.
Thanks in advance guys.
Angel
Nice job
Hello to all,
i read all the pages and i have almost all indicators but i miss only one and i cant find it now :Stepma stoch...i have StepMa_stoch but as i could see from one post they are not the same.Can someone please post it again please.
As for exit i agree to take 15 or 20 pips as this is crazy market and let other part run.Try to use Supertrend indicator for exit.
This system is very good,i used before entry when MA5 crosses MA34 but with no filter (my cousin who teached me trading did not tell me about filters
so i lost almost my whole account later...mostly due to lack of confidance after big loses) and those 2 systems lookes almost the same.MA5 with MA34 is old system and many traders out there use it with success.
Bunny system is simular,WMA5 with WMA20 with 25-30 pips filter but i found NIna's is best for now due to indicators maded and it is fast (no lag) almost like you look at price action.
I hope one day we will made our brokers to forward our trades and not to take other side so with plenty of Nina folowers (all trend folowers) we could move he market like in old days...few years ago when forex was a lot easier.
Keep up good work;i am sorry that i can't take a part in programming mql4 (i am educated programmer) because i am tired right now from learning new languages and mql4 does not look to easy (i learned CTL(GFT platform),easylanguage for prorealtime,tradestation...) but it would be grait if someone could make EA with this system with variable exit strategies.
Here is SuperTrend indicator
Hi DeepDrunk and thanks for the indicators.
BTW, I don't have any indicator called "Stepma stoch" and I use Nina also.
Could you be more specific as to what indicators you need?
On the other hand, I could post the template with all the indicators you need for Nina. Let me know!
moneyline