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Cable Update (GBPUSD)

  • #16,601
  • Jul 1, 2007 2:00pm Jul 1, 2007 2:00pm
By the way, has anyone seen the latest COT report ? It shows a record high long positions for this year held by speculative accounts.
  • #16,602
  • Jul 1, 2007 4:24pm Jul 1, 2007 4:24pm
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
HI new to forex so please be nice, need some advice, i keep missing the point at which a currency changes direction, this has cost me a few pips over time and i would like to change this to be a little more accurate.

Is there a time scale that is best for charting the turning, currently i simply follow the trend, so as you can imagine i am unsure of the difference between a bounce and a change of direction.
  • #16,603
  • Edited 10:42pm Jul 1, 2007 6:45pm | Edited 10:42pm
To: All
You 'd better just say short or long. Uptrend or downtrend, I don't understand what your chart say.
Give me patience
  • #16,604
  • Jul 1, 2007 6:46pm Jul 1, 2007 6:46pm
There is no magic time frame to follow to determine a trend change, sorry.

The time frame to follow though is the one you are most comfortable trading. And no one else can you what that is.
  • #16,605
  • Jul 1, 2007 6:50pm Jul 1, 2007 6:50pm
Quoting Bullfx
To; All
You 'd better just say short or long. Uptrend or downtrend, I don't understand what your chart say.

Most just say what they are doing. Very little posting of charts which I believe helps a whole lot better than "going short" or long. Why. Thats doesn't seem to matter to most. Just the fact that they declare what they are doing and we are should follow, I guess. So then they can say how many pips they made. But forget about when they lose. Silence.

Pino2 being one of the exceptions showing winners and losers.
  • #16,606
  • Jul 1, 2007 7:41pm Jul 1, 2007 7:41pm
Quoting SunTrader
Most just say what they are doing. Very little posting of charts which I believe helps a whole lot better than "going short" or long. Why. Thats doesn't seem to matter to most. Just the fact that they declare what they are doing and we are should follow, I guess. So then they can say how many pips they made. But forget about when they lose. Silence.

Pino2 being one of the exceptions showing winners and losers.

I'll post a chart on my next call. The only reason I haven't is because I don't want to show the whole world my system. So I need to rearrange everything and justify my entry using another system.
The people going around saying I BANKED A MILLION PIPS make me laugh. Like you said, they are nice and quiet when they are losing.
Silence is golden.
  • #16,607
  • Jul 1, 2007 7:43pm Jul 1, 2007 7:43pm
Quoting Bullfx
To; All
You 'd better just say short or long. Uptrend or downtrend, I don't understand what your chart say.
People are encouraged to post charts, a picture can tell a thousand words. If you don't understand something just ask.
  • #16,608
  • Jul 1, 2007 7:46pm Jul 1, 2007 7:46pm
Quoting bodge
I'll post a chart on my next call. The only reason I haven't is because I don't want to show the whole world my system. So I need to rearrange everything and justify my entry using another system.
The people going around saying I BANKED A MILLION PIPS make me laugh. Like you said, they are nice and quiet when they are losing.
Silence is golden.
LOL@my system. By the way, why would anyone lie about the pips they bank? That is always a puzzling thing to me, nothing worse then lying to yourself. If a person claims they banked, x, y or z I always assume they're telling the truth, because the thought of an individual lying in as insignificant and anonymous a "place" as this is just mind boggling to me. Anyhow, let me alert my valet that Entourage will be on shortly and my Bentley needs polishing.
Patience + Humility + Study = Success
  • #16,609
  • Jul 1, 2007 7:52pm Jul 1, 2007 7:52pm
Quoting DutchTrader
LOL@my system. By the way, why would anyone lie about the pips they bank? That is always a puzzling thing to me, nothing worse then lying to yourself. If a person claims they banked, x, y or z I always assume they're telling the truth, because the thought of an individual lying in as insignificant and anonymous a "place" as this is just mind boggling to me. Anyhow, let me alert my valet that Entourage will be on shortly and my Bentley needs polishing.

DutchTrader,
You think just because this place is 'anonymous and insignificant' that people won't try and strut their stuff? If anything, it adds incentive for people to lie. People love to lie about things, ESPECIALLY money. The sooner you realise the internet is full of liars, the better.
Your comments show me you have a lot to learn. This is a dog eat dog world and if you're not careful, you'll be dinner.
Time teaches lessons that cannot be learned overnight.
Your maturity really shines through when you thought "my system" was funny, heh.
  • #16,610
  • Jul 1, 2007 8:02pm Jul 1, 2007 8:02pm
Quoting bodge
DutchTrader,
You think just because this place is 'anonymous and insignificant' that people won't try and strut their stuff? If anything, it adds incentive for people to lie. People love to lie about things, ESPECIALLY money. The sooner you realise the internet is full of liars, the better.
Your comments show me you have a lot to learn. This is a dog eat dog world and if you're not careful, you'll be dinner.
Time teaches lessons that cannot be learned overnight.
Your maturity really shines through when you thought "my system" was funny, heh.
I actually think it is funny because who really cares? I mean I don't "know" you, and you don't "know" me. For all I know you're a Middle Eastern billionairre and for all you know I'm some dumb kid goofing off on his laptop. Point is it's irrelevant what your system is to me, or anyone else. Why? Because it's not putting money in anyone's pocket but your own. As for maturity, I laught at anyone and everyone including myself. So again, Lol@your system. If it's that great, good for you and all the best with it.
Patience + Humility + Study = Success
  • #16,611
  • Jul 1, 2007 8:09pm Jul 1, 2007 8:09pm
Quoting DutchTrader
I actually think it is funny because who really cares? I mean I don't "know" you, and you don't "know" me. For all I know you're a Middle Eastern billionairre and for all you know I'm some dumb kid goofing off on his laptop. Point is it's irrelevant what your system is to me, or anyone else. Why? Because it's not putting money in anyone's pocket but your own. As for maturity, I laught at anyone and everyone including myself. So again, Lol@your system. If it's that great, good for you and all the best with it.
I can appreciate your opinion, but you might be surprised what you can learn from a humble chart.
About the people banking pips, I know there's some traders here banking good pips, but not everyone can be trusted. That's all I was saying. Good luck to you too.
  • #16,612
  • Jul 1, 2007 8:49pm Jul 1, 2007 8:49pm
Hi all!
The Asians have all gone back to sleep. No movement at all, very sad.

Short EURUSD @ 1.3530 because of price action and overbought condition, no GU trade yet. I think I better get my beauty sleep too.

PS: wake up the damn Chinese, I don't want a deep-frozen chart in the morning!
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #16,613
  • Jul 1, 2007 8:58pm Jul 1, 2007 8:58pm
Quoting Plutonite
Hi all!
The Asians have all gone back to sleep. No movement at all, very sad.

Short EURUSD @ 1.3530 because of price action and overbought condition, no GU trade yet. I think I better get my beauty sleep too.

PS: wake up the damn Chinese, I don't want a deep-frozen chart in the morning!
Awaiting correction by the Frankfurt/London to make up my mind....
  • #16,614
  • Jul 1, 2007 9:41pm Jul 1, 2007 9:41pm
bodge! Please show us your system. Thanks!
  • #16,615
  • Jul 1, 2007 10:03pm Jul 1, 2007 10:03pm
Quoting bodge
I can appreciate your opinion, but you might be surprised what you can learn from a humble chart.
About the people banking pips, I know there's some traders here banking good pips, but not everyone can be trusted. That's all I was saying. Good luck to you too.
I didn't take offense to your statement, I was actually poking fun at those who would lie on such an anonymous forum. Good luck to you as well.
Patience + Humility + Study = Success
  • #16,616
  • Jul 1, 2007 11:18pm Jul 1, 2007 11:18pm
I am long Cable
TRADE LIKE A MACHINE!
  • #16,617
  • Jul 1, 2007 11:38pm Jul 1, 2007 11:38pm
I am currently long on cable. I was wondering if most of you close your account at the end of each day?
Thanks for your time. Anne Marie
  • #16,618
  • Jul 2, 2007 12:28am Jul 2, 2007 12:28am
Quoting froland
I am long Cable
Cable going down.
  • #16,619
  • Jul 2, 2007 12:35am Jul 2, 2007 12:35am
Quoting grantco100
Cable going down.
and can you tell us why cable going down? i also think it may go down, but i appreciate knowing your reasons
  • #16,620
  • Jul 2, 2007 12:40am Jul 2, 2007 12:40am
It is just time for it to go down and I have a gut feeling that it will. Also, I have a lot of shorts in the mini trades.
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