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Cable Update (GBPUSD)

  • #24,001
  • Aug 13, 2007 10:07am Aug 13, 2007 10:07am
To OrionsWay and SunTrader.


Sometimes i cant believe what i read considering you guys started trading way before me.

When you say... "crowd fails, so i trade against the crowd"

Wrong... and lets put it in simple terms.

I buy a pair... after me ppl start to buy too. Price rises... i make money.

Did i went against the crowd? No! I traded with the crowd but before it.

I buy a pair when the crowd is selling... Price declines... i loose money.

I traded against the crowd, i lost money.

Conclusion? Trading is about trading with the crowd, but before it.

Not every trader that fails, go in opposite direction, many times they go with the right direction too late!



Now regarding MAs... i liked the definition "fair value" for a certain period of time.

Why ppl fail using MAs? Because they use it like this:

"hey... theres a MA there... i will put my SL behind it"

But i ask... who the hell told this guy that the MA he chosed is the fair value for the crowd?

Conclusion? MA's should be used after they act as support/resistance (bigger picture charts) and not against momentum, and not only by themselves. After acting as support/resistence we enter when we see an improving in the next high/low or a clear rejected retest, and if we can, a good combination with funds would not hurt too.


We loose time and miss the initial pips? Sure..!

We don't loose money and catch the big pips trend anyway? Oh yeah.
  • #24,002
  • Aug 13, 2007 10:15am Aug 13, 2007 10:15am
Quoting Warper
To OrionsWay and SunTrader.


Sometimes i cant believe what i read considering you guys started trading way before me.

When you say... "crowd fails, so i trade against the crowd"

Wrong... and lets put it in simple terms.

I buy a pair... after me ppl start to buy too. Price rises... i make money.

Did i went against the crowd? No! I traded with the crowd but before it.

I buy a pair when the crowd is selling... Price declines... i loose money.

I traded against the crowd, i lost money.

Conclusion? Trading is about trading with the crowd, but before it.

Not every trader that fails, go in opposite direction, many times they go with the right direction too late!



Now regarding MAs... i liked the definition "fair value" for a certain period of time.

Why ppl fail using MAs? Because they use it like this:

"hey... theres a MA there... i will put my SL behind it"

But i ask... who the hell told this guy that the MA he chosed is the fair value for the crowd?

Conclusion? MA's should be used after they act as support/resistance (bigger picture charts) and not against momentum, and not only by themselves. After acting as support/resistence we enter when we see an improving in the next high/low or a clear rejected retest, and if we can, a good combination with funds would not hurt too.


We loose time and miss the initial pips? Sure..!

We don't loose money and catch the big pips trend anyway? Oh yeah.
Try again.
  • #24,003
  • Aug 13, 2007 10:19am Aug 13, 2007 10:19am
Warper, when professionals stop buy/selling sure the trend may continue to rise but it wont go far without professionals playing and it will only rise till the last of the suckers are in and become trapped. So in that scenario only momentum traders will make the scraps because the professional isnt intrested in buying tops/bottoms unless they are still bullish or bearish, and then they only push through the res/sup area because they have accumulated all the positiion they want in the period the market was consolidating while price and time balanced themselves. But if they have no intrest for higher prices or lower prices it will not rise/fall above/below that point where momentum died because they have NO DEMAND or will SUPPORT PRICE

This is basic 101 observations
"Millionaires don't use astrology, billionaires do"
  • #24,004
  • Aug 13, 2007 10:31am Aug 13, 2007 10:31am
I understand it, but i'm not sure if i explained well my use of momentum.

And remember... i refered "help of funds will not hurt"

I dont focus in just one idea. When the price doesnt want to punch through a MAs and as you explained, it doesnt want to go the oposite side, thanks to lack of offers/bids. Price goes sideways.

Who said i trade sideways?


SunTrader... did you get offended? Too Bad...
  • #24,005
  • Aug 13, 2007 10:37am Aug 13, 2007 10:37am
Warper yes as i said earlier Ma's are only suggestive of a res/sup area, the action of who is playing at these areas is what is important, observation shows that MT and LT players become active on these levels is all. the background provides alot of clues across many timeframes as to what one can possibly expect.
"Millionaires don't use astrology, billionaires do"
  • #24,006
  • Aug 13, 2007 10:41am Aug 13, 2007 10:41am
Cut the crap, UJ! Let's go 120 http://forum.gtarena.net/images/smilies/smiley_rock.gif
  • #24,007
  • Aug 13, 2007 10:55am Aug 13, 2007 10:55am
Quoting Warper
I understand it, but i'm not sure if i explained well my use of momentum.

And remember... i refered "help of funds will not hurt"

I dont focus in just one idea. When the price doesnt want to punch through a MAs and as you explained, it doesnt want to go the oposite side, thanks to lack of offers/bids. Price goes sideways.

Who said i trade sideways?


SunTrader... did you get offended? Too Bad...
No not offended one bit. I said try again. And that means take another shot at explaining your newbie thoughts. Offended, too bad.
  • #24,008
  • Aug 13, 2007 10:56am Aug 13, 2007 10:56am
lool

Long UJ from 118,20

I reviewed my opinion. Powerful rebound again from the weekly 100 SMA (double bottom), combined with some good news. Bullish enough: .

However bullish dont mean that trend is back, i dont know if i can hold it to 120.

100 H4 SMA was a cap last time, with a little help of the fib thought.

I must get better in this targets decisions.




SunTrader... i'm a newbie. Who wasn't at some point? A newbie that beat the odds and didnt loose the entire account in 1 month like you did.

By the way. You are the one that says that trade for 13 years and never passed from 10% profit per year. What a credibility you have.

Maybe i teach you some lessons of making the goal of a year in one day.
  • #24,009
  • Aug 13, 2007 11:04am Aug 13, 2007 11:04am
Quoting cesarnc
Cut the crap, UJ! Let's go 120 http://forum.gtarena.net/images/smilies/smiley_rock.gif
.
  • #24,010
  • Aug 13, 2007 11:05am Aug 13, 2007 11:05am
sun, did u upgrade into DT5? If so how is it much different different feel?
"Millionaires don't use astrology, billionaires do"
  • #24,011
  • Aug 13, 2007 11:06am Aug 13, 2007 11:06am
Quoting Warper
lool

SunTrader... i'm a newbie. Who wasn't at some point? A newbie that beat the odds and didnt loose the entire account in 1 month like you did.

By the way. You are the one that says that trade for 13 years and never passed from 10% profit per year. What a credibility you have.

Maybe i teach you some lessons of making the goal of a year in one day.
Well maybe you will learn someday, probably not, that it is keeping it - not making it - that is more important.

Good luck.
  • #24,012
  • Aug 13, 2007 11:07am Aug 13, 2007 11:07am
Settle down fella's nobody cares, ego's have no place in trading
"Millionaires don't use astrology, billionaires do"
  • #24,013
  • Aug 13, 2007 11:07am Aug 13, 2007 11:07am
Quoting OrionsWay
sun, did u upgrade into DT5? If so how is it much different different feel?
Nope, haven't done it yet.
  • #24,014
  • Aug 13, 2007 11:09am Aug 13, 2007 11:09am
Quoting SunTrader
Nope, haven't done it yet.

Me either, cant imagine they could improve it much except for feeds perhaps and maybe some drawing tools arc's elipses,parabola's and such
"Millionaires don't use astrology, billionaires do"
  • #24,015
  • Aug 13, 2007 11:12am Aug 13, 2007 11:12am
Stop you 2 kids!

http://www.oskytheater.org/images/Ar...p/webfight.jpg
  • #24,016
  • Aug 13, 2007 11:18am Aug 13, 2007 11:18am
Went to the beach for the weekend and the pound looks like it is still falling...

We should be hearing from free444 real soon..
  • #24,017
  • Aug 13, 2007 11:20am Aug 13, 2007 11:20am
Quoting Turtle
Went to the beach for the weekend and the pound looks like it is still falling...

We should be hearing from free444 real soon..
Yeah. "Target 9730" :

BTW, where do you live Turtle? And what beach?
  • #24,018
  • Aug 13, 2007 11:24am Aug 13, 2007 11:24am
Quoting SunTrader
Well maybe you will learn someday, probably not, that it is keeping it - not making it - that is more important.

Good luck.
Here is where your arguments dry up because i understand perfectly what you just said.

If you paid more attention, you would notice that i dont trade like a dumb.

I'm not perfect, thats a fact, but i only trade with a reason, i used MM since the beginning, i studied everything (combined with university bases) and i only got live after doing good on demo. I'm not the cliche newbie that you like to make fun of. Sorry about that.

Thats why i'm holding to profit with more than 200 live trades. Not very much trades, im not a machine, but they are enough to make anyone wipe out their money.

Ha... and like i said some time ago... i was so humble at the beginning that i even though that 100 pip trades were destined for forex gods.

Before i even started trading i though that 50 pip month would be more than enough.

Thank you very much, dont need applause.



Cesarnc can you explain me a little better the 120.00 mark? Retest of that previous high?

Thanks.
  • #24,019
  • Aug 13, 2007 11:28am Aug 13, 2007 11:28am
Quoting Warper
Cesarnc can you explain me a little better the 120.00 mark? Retest of that previous high?

Thanks.
It's a nice mark. I like nice marks. Don't you like nice marks? ohh you should :
  • #24,020
  • Aug 13, 2007 11:29am Aug 13, 2007 11:29am
Freaking stock market is melting... Just banked some more out of UJ...

Afraid of seeing that SOB turning to red and knocking me down here...
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