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Cable Update (GBPUSD)

Quoting m00jiman
damn, i have never felt this confused in my trading life. I don't know what to do, wait or enter. waiting is the best option i know but...you know..human mind.
I made few desperate trades, and I was knocked on my head. Process of learning i guess, 3 trades on different pairs and all 3 felt like a huge baseball bat shoved at my a$$.

I will relax, sleep, rejuvenate, and will be back for attack like a injured tiger. I will be back...back with a vengeance back at Asia open.
If I have a bad day, I take at least the following day off.

Vengeance is also a word I would not use too.

Never works trying to get even with the market.
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
i might of had a good day closed out my longs at .0458 from .0113. it had almost reached my target of .0550. and then started to drop so i shorted.

made plenty of pips but should have had more patience as it is back up again.

I look for next trade later.
Quoting SunTrader
If I have a bad day, I take at least the following day off.

Vengeance is also a word I would not use too.

Never works trying to get even with the market.
Top advice ! Luckily my memory for horrible things only goes back 24 hours...
Right now you can CONCENTRATE and WAIT and make little trades that yield small profits - good for restoring confidence... and the opposite works too - the most dangerous time is when you have made 3 good sized profitable trades in a row and you get complacent...

You have to wait for the right moment - that's why trading and peeping tomming require the same skills of positioning and timing
Quoting MPP
Just read this, can anyone explain it


17:13 US TECHS: Bear-Flag Pattern Seeing Follow Through for Dollar Boston,
July 18. Daily charts have seen a bear-flag pattern for the Dollar Index
developing over the last few days and today's weakness is starting to see follow
through for this pattern as the index attacks the prior low from December 2004
at 80.39. A close below there today would be a strong indication that the
market is on a path toward 1992 lows at 78.70.
While there are clearly some deeply oversold momentum studies for this
market in different time frames, it does not appear to be the time to try and
find a reversal point for the trend. The pattern of lower lows and lower highs
on the weekly chart is not a pattern that should be faded.
Hope this can help
http://img62.imageshack.us/img62/981...7131427jm8.png
Johann Channels and cycles are everything
http://img469.imageshack.us/img469/4...7130706gu1.png
Johann Channels and cycles are everything
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Tragapips
http://img469.imageshack.us/img469/4...7130706gu1.png

Helps a little, has little affect on my trading method at this time, but as i grow I may learn to use this info. many thanks.

Also were did the clocks in three zones come from, been looking for one for a while now.

cheers
Search for Qlock on google. Itīs very useful
Johann Channels and cycles are everything
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting Tragapips
Search for Qlock on google. Itīs very useful
Done.

many thanks
Quoting Tragapips
Search for Qlock on google. Itīs very useful
if you use firefox, you can have clocks bar on it
it's better than installing new app
or you can use yahoo widgets
Attached Image
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting benssol
if you use firefox, you can have clocks bar on it
it's better than installing new app
or you can use yahoo widgets

spoilt for choice now.

try them all, good idea.

many thanks.
Ridiculous pair... As as ridiculous as BB statements.
I'm closing my short position on this one so next big move will be down for sure.

To whom it may concern: you don't need any other type of info in order to know where to place your bet...
Quoting bluerose
Hello, Bravado. I have been browsing this thread and I am so amazed at your results. Would you care to share with forum's members on 1) how do you do that, meaning your methodology and
i am divine when it comes to trading.
i am the bestest perfect. the alpha and the omega.

a trader.
there are other traders on FF as well.
_________________________________________________________
to start things off, some of my omnipotent words.

about emotions:
http://www.forexfactory.com/showpost...2&postcount=14

about strategies:
http://www.forexfactory.com/showpost...7&postcount=19
_________________________________________________________
and now on to other traders who has written more about trading:

these are the few who has caught my eye by random thread clicks.
i don't go around checking every thread. especially now so i'm sure there are few other traders here on FF i could not mention.

(not in any order)

Igrok Method. Q's & A's. Comments, thoughts and ideas.
http://www.forexfactory.com/showthread.php?t=21887
---read some complaints about his earlier calls on cable on this thread. i bet the person who complained took his calls word for word and got burned.

Steviet's Live Trades!
http://www.forexfactory.com/showthread.php?t=10519
---a true trader. his journal is as excellent and insightful. he is always around to help you.

Jacko's Forex House of Pleasure and Pain
http://www.forexfactory.com/showthread.php?t=27286
---good material on the first few pages. he's around sometimes to answer your questions.

Harmonic Wave Journal
http://www.forexfactory.com/showthread.php?t=23569
---great elliot practioner.
_________________________________________________________

last but not least:

there are countless strategies on FF and on other forums as well.
these strategies are excellent.

Trading Systems
http://www.forexfactory.com/forumdisplay.php?f=71

i looked through some of them and they all work.
but going back to my omnipotent words, if you are not comfortable with them. they won't work for you.

Quote
2) would you care to open a new thread to enter the positions that you take so that we can all do some learning and making $ at the same time? Thanks in advance
i'm not sure about opening a thread just for my calls.
i've decided against making calls all together sometime ago.

also i'm against giving or taking signals.

i do however, like feeding my ego through making calls when i'm bored.

if any calls will be made it will be out of amusement on one of the currency pair threads.

never a novice or a newbie.
a pro.

pips after pips. profit after profits.

bravado. cha-cha-cha!
BAM BAM BOOM! -bravado
soros for president
Hey bravado, try this...

http://www.kontraband.com/show/show....ords=smug&nl=1


:confused: quote of the day: . It's like deja-vu all over again
Quoting ganymedes
If cable is unable to close above 2.0550 today, I think a short position will have an excellent R:R ratio. Potential profit before the end of the week should then be at least 150 pips.
Cable adjustments:

- Adding short cable position now (SL: 2.0562)
- Moving SL on long position up, right below today's low
I have opened short trade @ 2.0530 with SL 2.0560 and a reverse pending buy order @ 2.0560 with SL 2.0530 TP is open in both till it gets clear
Quoting bravado
only up 100+ pips today. but banked huge for this week already.
and the week before.. and before that and before before that. etc,.
and month etc,.

etc,.
etc,.
etc,.
Why are you on Oanda and not a true ECN? Serious question, not mockery.
Trust price. Know yourself.
Quoting pino2
I have opened short trade @ 2.0530 with SL 2.0560 and a reverse pending buy order @ 2.0560 with SL 2.0530 TP is open in both till it gets clear
BULLISH outside bar / engulfing candle.

Three bar high.

Daily bullish bar.

5 weeks of strong upward trending

Yea, I'd put about 100% of my account on a short right now.
Attached Image
Trust price. Know yourself.
Quoting SeekingLight
Why are you on Oanda and not a true ECN? Serious question, not mockery.
i have no problems with my current.
BAM BAM BOOM! -bravado
Quoting bravado
i have no problems with my current.
Well I am on Oanda as well but as soon as I get above a certain sum I will move to a qualified ECN for sure. Cheaper spreads, features, treatment, other variables...and not so insane news behavior.

Anyhow.

I just had a look at GBPCHF for a friend. I believe 2.4900 - 2.5000 is very likely in the near term. Assuming even if USDCHF stayed at 1.2 that means 2.5 / 1.2 = 2.0830 GBPUSD.

2.49 / 1.2 = 2.0750 GBPUSD.

Sure, we could see USDCHF surge up alongside GBPUSD as well, but that'd be a bit odd, wouldn't it?

1.2140 x 2.0600 = 2.5000 would of course also end up working.

Well, we'll see what combination gets us there.

Just some last musings before going to bed.
Trust price. Know yourself.
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