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Cable Update (GBPUSD)

  • #25,361
  • Aug 17, 2007 4:47am Aug 17, 2007 4:47am
Until this turmoil is over, I'm officially not discussing positions, trends, corrections, markets nor updating market's information here...

For some it is a usual corrective week, for others it's been the end of the world as they know it, so.....

Not worthy. Everybody on their own...

On the thread I'm for the jokes only.

Put your forex caps, grease your fingers and go make some f'n money. Good luck
  • #25,362
  • Aug 17, 2007 4:49am Aug 17, 2007 4:49am
Quoting cesarnc
For some it is a usual corrective week, for others it's been the end of the world as they know it, so.....

Brokers widening spreads and > 700 pip moves in 3 hours are NOT normal, period.
Trust price. Know yourself.
  • #25,363
  • Aug 17, 2007 4:52am Aug 17, 2007 4:52am
Quoting SeekingLight
Brokers wideneing spreads and > 700 pip moves in 3 hours are NOT normal, period.
By the content of your recent posts, you should seriously consider changing your nick to "HaveFoundLight"

  • #25,364
  • Aug 17, 2007 4:53am Aug 17, 2007 4:53am
Today might be a give back your profit day
Be careful this shit may get ugly.
Just Trade It
  • #25,365
  • Aug 17, 2007 4:56am Aug 17, 2007 4:56am
Quoting cesarnc
By the content of your recent posts, you should seriously consider changing your nick to "HaveFoundLight"

Yoda says "a few good weeks a good trader does not make *mumblemumble*" =)

But I'll consider changing it (or rather the title, not the nick) come X-Mas if I get the same returns consistently as the last 6 weeks...
Trust price. Know yourself.
  • #25,366
  • Aug 17, 2007 4:58am Aug 17, 2007 4:58am
Quoting Big Wave Rider
Today might be a give back your profit day
Be careful this shit may get ugly.

I kid you not, I had this gut feeling I shouldn't trade today last night and I stayed in bed an extra hour, not wanting to go to my trading desk.

I think I'm starting to develop a forex sense....

SpideySeekingLight says *my FX senses are tingling..*
Trust price. Know yourself.
  • #25,367
  • Aug 17, 2007 5:09am Aug 17, 2007 5:09am
Quoting pino2
I mentioned before manytimes that Monday is the key of the week, and the failure to reach 2.0259 on Monday was the first sign for me for the downward move this week, then the break of 2.0061 was the second sign for the downward move for this week, so I blindly went short this week, without even thinking a single second to go long, since when the above mentioned occurs it is a BIG SIGN for me NOT TO GO LONG even intra day
The prices now reached 1.9649 and bounced up like 100 pips, so it might be that prices are now pivoting and then will go down again, or a sign for the end of this downward move, the coming hours + next Monday might clear it up for me

Nice to find another fan of the "Monday Indicator"

http://www.forexfactory.com/images/icons/icon12.gif
Trading Levels with WRBs
  • #25,368
  • Aug 17, 2007 5:18am Aug 17, 2007 5:18am
I think I am out today, nothing tangible or worth trading, up down up down.
I am NOT giving my pips back.
Just Trade It
  • #25,369
  • Aug 17, 2007 5:24am Aug 17, 2007 5:24am
I think this is interesting for everyone in the forum (From DailyFX):

The carry basket is currently down 7.1 percent and at its low point, matched the decline in May 2004.

http://www.dailyfx.com/export/sites/...8-16-2007b.gif
Johann Channels and cycles are everything
  • #25,370
  • Aug 17, 2007 5:52am Aug 17, 2007 5:52am
Quoting Tragapips
I think this is interesting for everyone in the forum (From DailyFX):

The carry basket is currently down 7.1 percent and at its low point, matched the decline in May 2004.
Thank you so much Tragapips for this interesting info
  • #25,371
  • Aug 17, 2007 5:59am Aug 17, 2007 5:59am
Quoting cesarnc
On the thread I'm for the jokes only.

Put your forex caps, grease your fingers and go make some f'n money. Good luck
avgust joke....1
avgust vacation are to be over, the italians, germans, slos, austrians, the netherlanders, etc, which were selling euros and buying croatian kunas, are almost over,...the closer we aproch to sept the first the more likely it is, the euro sold off is over,....u know we just aint united yet, and the only closest outperforming beaches (Brač,hvar,korčula,pag,krk, etc, etc, etc.... are in croatia, were many central europeans go to...in milions, croatia is usually 4times bigger by population in summer month, exceeding the 10 mio ppl, while it has only 4 of its own ...so the euros went to them...now they will sold them and buy back their stupid kunas (or they will buy the euros back so they will feel they own a valuable cuurency), and the thing will turn arround sooner then u expected,...it is a WIN, WIN oportunity ...

avgust joke....2
Bloomberg advise that de123 says, the cable has reach the devil super strong support, and he advised its a low risk high reward trade, he sees cable at 2.22 by the end of september, not later then middle october. So de123 raise short cable expections, from get rid of, to outperform.
its just money
  • #25,372
  • Aug 17, 2007 6:11am Aug 17, 2007 6:11am
Quoting de123
avgust joke....2
Bloomberg advise that de123 says, the cable has reach the devil super strong support, and he advised its a low risk high reward trade, he sees cable at 2.22 by the end of september, not later then middle october. So de123 raise short cable expections, from get rid of, to outperform.
Gonna put a 0.01 here, TP 2.2222 just for the laughs
  • #25,373
  • Aug 17, 2007 6:14am Aug 17, 2007 6:14am
Quoting Big Wave Rider
I think I am out today, nothing tangible or worth trading, up down up down.
I am NOT giving my pips back.
100% agreed.
Trust price. Know yourself.
  • #25,374
  • Aug 17, 2007 6:17am Aug 17, 2007 6:17am
cesarnc, may i ask you a question regarding your personal view about pip gains?

It's very simple, and it's not about your gains.
  • #25,375
  • Aug 17, 2007 6:24am Aug 17, 2007 6:24am
Quoting cesarnc
Gonna put a 0.01 here, TP 2.2222 just for the laughs
thanks buddy... o i forgott...meanwhile (one more joke...)

CNN reoprted that Ausy tread is the fastest growing tread in the galaxy (11.30 europe local), it created a downturn in JPY crosses, it was created right on a break of the first support at gbp/jpy (244,44), from then on the aussy is the leading person which has convinced several hundreds traders acrooss the globe to short the jpy pairs, with a minumum of 300-600 pips profit per trade. This has caused many wifes leaving their husbands across the globe and jen as a short outperforming currency.
its just money
  • #25,376
  • Aug 17, 2007 6:27am Aug 17, 2007 6:27am
Why I think this can be a bullish day:

- EUR/JPY and GBP/JPY rebound on long term supports
- Euro is breaking this month downtrend channel to the upside.
- Cable break its long term channel but rebounds on 676 support line and is trying to reinsert in the uptrend channel again.

Plus:

-Yesterday´s Dow rebound
- Market expectations of a rate cut in September.
- Seems Fed will give some "oxigen" to bankrupt firms.

Just thinking...

Edit: And I forgot bad data; Phily Fed Cero ???

http://img514.imageshack.us/img514/4...7062731uh8.png


Johann Channels and cycles are everything
  • #25,377
  • Aug 17, 2007 6:31am Aug 17, 2007 6:31am
Quoting Warper
cesarnc, may i ask you a question regarding your personal view about pip gains?

It's very simple, and it's not about your gains.
Yup
  • #25,378
  • Aug 17, 2007 6:33am Aug 17, 2007 6:33am
I'm gonna post this right now, 2hr ahead of New York, so by the time it happens I'll be able to told you all so...

I bet $20 as IF (IF!!! IF!!!!!) Cable puts 2.0 today we will start seeing charts with targets 2.1000 and charts with target 1.9000

Chips on the table.

P.S. Read carefully, I'm not saying cable will do that. I'm saying If XXX then YYY....
  • #25,379
  • Aug 17, 2007 6:53am Aug 17, 2007 6:53am
Tragapips

That's not what i'm seing.

http://img177.imageshack.us/img177/6319/euro7db1.jpg


It might break but i'm not seeing that yet. Even if it breaks, no long for me...





Cesarnc, thanks in advance

My question is as simple as this. Do you think that is possible to make 200 pips per month average?

Taking into consideration this 4 things.

Short Term Trader. (H4/Daily Chart as Main)
Stop Loss 50 pip average. (Possibility of 60.. 70..)
Leverage 5:1 MAX (1 position or... multiple positions combined to make that max)

And assuming that it is a good and experient trader.

Attention, i'm not saying 200 pip every month. Months with 0 or less... are a possibility, but 200 as an average. Is this possible?
  • #25,380
  • Aug 17, 2007 7:00am Aug 17, 2007 7:00am
Quoting Warper
Tragapips

Cesarnc, thanks in advance

My question is as simple as this. Do you think that is possible to make 200 pips per month average?

Taking into consideration this 4 things.

Short Term Trader. H4/Daily Chart as Main
Stop Loss 50 pip average.
Leverage 5:1 MAX (1 position or... multiple positions combined to make that max)

And assuming that it is a good and experient trader.

Attention, i'm not saying 200 pip every month. Months with 0 or less... are a possibility, but 200 as an average. Is this possible?
It is. PERIOD.

Now, how to achive this mark? The only way I see is keep profits running as much as you can, via moving SL behind important levels taken out previously. Some like trailing stops. I think trailing stops work better in a trending market.

But you gotta know, or try to anticipate what is the market doing. I do that via fundis + daily/weekly techincals. To each "market" its strategy.

On my side, I was just improving my trading skills in a corrective market (after 0652 top) when this hurricane hit the market. But I'm confident that there is 4, maybe 5 weeks trending, 8-10 weeks correcting and the unpredictable.

3 markets, 3 strategies.
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