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Big Boys DID IT AGAIN

  • #41
  • Nov 26, 2006 3:34pm Nov 26, 2006 3:34pm
THE GBP HAS MOVED 140 pips TODAY ALREADY THIS IS CRAZY !!!!!!

IF MY BROKER WOULD HAVE BEEN OPEN I WOULD HAVE BEEN IN LONG CATCHING UP ALL MY LOSSES BUT THEY KEEP GROWING BECAUSE I DIDNT USE A STOPLOSS. LET THIS BE A LESSON TO EVERYONE< HE WHO USES NO STOP LESS WILL FEEL THE PAIN ONE DAY AND COULD EASILY WIPE YOUR ACCOUNT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Ghost Swoopen in for my pips while no one is lookin !!
  • #42
  • Nov 26, 2006 3:34pm Nov 26, 2006 3:34pm
Quoting theroller
when i said even before the market is open, i meant stock/financial markets (not fx). first one to open is Sydney, which is in like an hour, still.
My bad. I'm sorry for misunderstanding here.
"Even the word impossible says that I M possible"
  • #43
  • Nov 26, 2006 3:35pm Nov 26, 2006 3:35pm
I cant help but think this is a big trap being set here by some big players. This pace cant be sustained, I am looking for a good short set up during Asian or London sessions. I may lose my shirt... when 2.00 and 1.40 are reached!
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #44
  • Nov 26, 2006 3:36pm Nov 26, 2006 3:36pm
i see an extrmem high going back on the monthly chart of 2.4485!! thats as far back as I can see... lol just want to get a historical range for where this thing can go. Stick with the trend the longer term is up any dip here are strictly retracements unless and until the fundamental picture changes.
  • #45
  • Nov 26, 2006 3:37pm Nov 26, 2006 3:37pm
Ghost,

Been trading for only 1.5yrs and I've made the same mistake. I don't think anyone here hasn't man. Its frustrating, but you only wasted your money if you do it again.

Always have a stoploss
Try not to trade against the trend

I can't offer any other advice/solace except that you can come back if you want to
  • #46
  • Nov 26, 2006 3:38pm Nov 26, 2006 3:38pm
once more, we see that massive moves come at least expected times. http://www.learncurrencytrading.com/...es/biggrin.gif

i believe this is not sane, too. EUR has nothing better than US now, and they simply can't burden a 1.40/1.5 rate. next equilibrium could be between 1.28 - 1.38, for like 12 months or so.

what i really wonder is, what will happen when EUR/USD bounces back from 1.38s to 1.30s again? Commodities could really soar in 2007 http://www.learncurrencytrading.com/...milies/eek.gif
  • #47
  • Nov 26, 2006 3:40pm Nov 26, 2006 3:40pm
there is a bearish pin bar from the monthly chart on cable with a high of 9549, price bars look strong to test this level, then we gotta see if it breaks thru or retraces I think the thin liquidity really added to the buying momentum... the sharks came out when the lights were off and no one was looking... ;-)
  • #48
  • Nov 26, 2006 3:40pm Nov 26, 2006 3:40pm
Quoting Ghostpipper
THE GBP HAS MOVED 140 pips TODAY ALREADY THIS IS CRAZY !!!!!!

IF MY BROKER WOULD HAVE BEEN OPEN I WOULD HAVE BEEN IN LONG CATCHING UP ALL MY LOSSES BUT THEY KEEP GROWING BECAUSE I DIDNT USE A STOPLOSS. LET THIS BE A LESSON TO EVERYONE< HE WHO USES NO STOP LESS WILL FEEL THE PAIN ONE DAY AND COULD EASILY WIPE YOUR ACCOUNT !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
It's really nice that now you understand how important the stop loss is.

By the way, how many hours does your broker sleep? It seems you gotta wake them up or switch other brokers.
"Even the word impossible says that I M possible"
  • #49
  • Nov 26, 2006 3:42pm Nov 26, 2006 3:42pm
Quoting StockKJay
I cant help but think this is a big trap being set here by some big players. This pace cant be sustained, I am looking for a good short set up during Asian or London sessions. I may lose my shirt... when 2.00 and 1.40 are reached!
Yeah it seemed like a trap back on wednsday when it brike thru 9150 too tho........ look where we are now tho, only thing is AMERICANS and JAPANESE havent seen this yet we are all on vaca!! Now what would good reseoning be to short for the americans tho? Housing is way down, Fed is probably going to cut rates very soon, 2007 is lookingh super crappy according to officials telling Bush. England is going to raise there benchmark for sure at least 1 time if not 2 unless they see this and get all weird but i doubt it. We are at war, and a retarded if not pointless war. We have the stupidest president in all of history in office. hmmm lets all buy $s LMAO..... man im screwed
Ghost Swoopen in for my pips while no one is lookin !!
  • #50
  • Nov 26, 2006 3:42pm Nov 26, 2006 3:42pm
Quoting cgldsmth
think some big boys taking more opportunity of low liquidity and raping the small fry while their servers are down - hopefully the stop-hunting will stop in a few hours and some dollar love will prevail.
Why do you care about the dollar?

It amazes me how everyone wants to buy the dollar. It's like the investor who doesn't want to sell, but loves to buy, because they equate "selling" with "bad".
Mr. Trend
  • #51
  • Nov 26, 2006 3:42pm Nov 26, 2006 3:42pm
I'm taking the contrarian view, think the USD sellers and GBP buyers must be close to exhaustion now.

when everyone says it's going up, it usually comes crashing down etc etc...
TRADE FOR SWAP
  • #52
  • Nov 26, 2006 3:44pm Nov 26, 2006 3:44pm
I don't "care" about the dollar. I care about having £ in my pocket, whichever way that takes. I just cannot see that there can be enough USD shorts left out there.

Quoting Mr Trend
Why do you care about the dollar?

It amazes me how everyone wants to buy the dollar. It's like the investor who doesn't want to sell, but loves to buy, because they equate "selling" with "bad".
TRADE FOR SWAP
  • #53
  • Nov 26, 2006 3:44pm Nov 26, 2006 3:44pm
Trend i hear what ur saying but i think most peeps expect some klind of retracement but we both know thats not always the case, theres a big time lack of 2 way flows here, and the market is pretty much one sided against the dollar... will be interesting to see if we get similiar moves during christmas..
  • #54
  • Nov 26, 2006 3:45pm Nov 26, 2006 3:45pm
Quoting enoc2g
there is a bearish pin bar from the monthly chart on cable with a high of 9549, price bars look strong to test this level, then we gotta see if it breaks thru or retraces I think the thin liquidity really added to the buying momentum... the sharks came out when the lights were off and no one was looking... ;-)
I'm going to write a plan to short the pound around 1.9530 - 1.9550. I'll take a small position and I'm expecting a small retracement around that area. Perhaps, 30 - 50 pips retracement.
"Even the word impossible says that I M possible"
  • #55
  • Nov 26, 2006 3:46pm Nov 26, 2006 3:46pm
Quoting Ghostpipper
Yeah it seemed like a trap back on wednsday when it brike thru 9150 too tho........ look where we are now tho, only thing is AMERICANS and JAPANESE havent seen this yet we are all on vaca!! Now what would good reseoning be to short for the americans tho? Housing is way down, Fed is probably going to cut rates very soon, 2007 is lookingh super crappy according to officials telling Bush. England is going to raise there benchmark for sure at least 1 time if not 2 unless they see this and get all weird but i doubt it. We are at war, and a retarded if not pointless war. We have the stupidest president in all of history in office. hmmm lets all buy $s LMAO..... man im screwed
Dude, Wednesday didnt show any trap. Dont make this into a political rant either. I will find a resistance and short eur/usd according to a tech system. I will be conservative with my stop losses. This might be the push for 1.40... though I just dont believe it yet.
The market is my nation. Traders, my family. Hello, brothers and sisters!
  • #56
  • Nov 26, 2006 3:48pm Nov 26, 2006 3:48pm
I told an individual about two weeks ago that they should consider getting out of their AUDUSD short, because they said that "100% of the time, when it hits 7700, it comes right back down, so I'm gonna keep selling into it", and wouldn't you know it, here we are two weeks later, and look where the AUD is...

And my weekly AUD charts actually show supply being broken and heading up another 200 pips...

My point: YOU DON'T HAVE A CLUE WHAT THE MARKET IS GOING TO DO NEXT, AND YOU DON'T NEED TO KNOW IN ORDER TO MAKE MONEY!!!!!

I don't know how many times some of us have to tell people this...
Mr. Trend
  • #57
  • Nov 26, 2006 3:48pm Nov 26, 2006 3:48pm
Quoting SkYliNe0511
I'm going to write a plan to short the pound around 1.9530 - 1.9550. I'll take a small position and I'm expecting a small retracement around that area. Perhaps, 30 - 50 pips retracement.
lol yer position is not looking so hot already bro not laughing at u believe me im not.....
Ghost Swoopen in for my pips while no one is lookin !!
  • #58
  • Nov 26, 2006 3:52pm Nov 26, 2006 3:52pm
Quoting StockKJay
Dude, Wednesday didnt show any trap. Dont make this into a political rant either. I will find a resistance and short eur/usd according to a tech system. I will be conservative with my stop losses. This might be the push for 1.40... though I just dont believe it yet.

it cant be the push for 1.40 atm that would be 1000 pips, we are going to see alot of up and down before Xmas when it finally reaches its top could be 1.40 tho but things dont go up or down forever so..... yep as long as we have good stop losses we be ok
Ghost Swoopen in for my pips while no one is lookin !!
  • #59
  • Nov 26, 2006 3:52pm Nov 26, 2006 3:52pm
Quoting enoc2g
Trend i hear what ur saying but i think most peeps expect some klind of retracement but we both know thats not always the case, theres a big time lack of 2 way flows here, and the market is pretty much one sided against the dollar... will be interesting to see if we get similiar moves during christmas..
I know... I agree, there should be a retracement, but all I'm saying is, don't get so wrapped up in trying to predict, that you start shorting right now. Wait and see, because you don't really know what's going to happen.

That's all I'm saying.
Mr. Trend
  • #60
  • Nov 26, 2006 3:54pm Nov 26, 2006 3:54pm
I can't believe the brokers open so late. There is so much movement we could get a part of. And I could have jumped out out my trade. @#$%^& !!!
Steve
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