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Cable Update (GBPUSD)

  • #31,901
  • Sep 20, 2007 7:18am Sep 20, 2007 7:18am
Quoting karmostaji
closed my long from yesterday at 2.0090 earlier

now I'm short
Now i have another friend who short
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #31,902
  • Sep 20, 2007 7:21am Sep 20, 2007 7:21am
By the way the last 1 week - 2 week is a complete chaos as far as correlation is concerned...
.
  • #31,903
  • Sep 20, 2007 7:22am Sep 20, 2007 7:22am
Quoting Kiyosaki JR
Now i have another friend who short
Let's ride this thing down..
Trade what you see, not what you think.
  • #31,904
  • Sep 20, 2007 7:27am Sep 20, 2007 7:27am
Quoting karmostaji
Let's ride this thing down..
You're taking a position 1h 30 min before a major testimony from the Fed Chairman and the US Treasury, 2 days after a double BIG CUT in rates....

I would fear less telling Mike Tyson "your mamma's so hot"
  • #31,905
  • Sep 20, 2007 7:33am Sep 20, 2007 7:33am
Quoting cesarnc
reminds me of my emotional discussions in this thread a while a go... The time when I DID CARE

Today I'm just down for the next name on the Hall. Since the foundation, the lousy calls vanished... I wonder why.
If I remember correctly.. those in the Hall of Fame are..
Free444 (cable going to 9773)
Soros Jr (2.1 sooner than you expect)
Igrok (1.4 before 2.0)
the rest I forget.. anyone want to add??
  • #31,906
  • Sep 20, 2007 7:33am Sep 20, 2007 7:33am
Quoting cesarnc
You're taking a position 1h 30 min before a major testimony from the Fed Chairman and the US Treasury, 2 days after a double BIG CUT in rates....

I would fear less telling Mike Tyson "your mamma's so hot"
.
  • #31,907
  • Sep 20, 2007 7:38am Sep 20, 2007 7:38am
is it major yapping that bernanke gonna prduce today or is it not that important?
  • #31,908
  • Sep 20, 2007 7:40am Sep 20, 2007 7:40am
How do you know the trend has started? dont know
How do you know the trend has finished? dont know
How do you know what the trend is? observe
Where do you get in? anywhere
Where do you exit? That's a long story.
Are you disciplined? Yep
Are you emotional? Nope
Are you patient? Always
What inidicators are you using? None. What are those?
How much are you risking on a trade? Very low.
How about support/resistance? I observe
....
.
  • #31,909
  • Sep 20, 2007 7:41am Sep 20, 2007 7:41am
Quoting lexazver
is it major yapping that bernanke gonna prduce today or is it not that important?
He's gonna address before a congressional committee on the housing problems and the "solutions" he and Bush talked about on that Friday, if you recall. He's taking US Treasury's Paulson with him.

Looks like there won't be much room for his usual B.S. or Berlin's "global savings glut", when he manages to skip the the issues that really matter.

So, there is the sense that this will be a major event.
  • #31,910
  • Sep 20, 2007 7:53am Sep 20, 2007 7:53am
Quoting cesarnc
You're taking a position 1h 30 min before a major testimony from the Fed Chairman and the US Treasury, 2 days after a double BIG CUT in rates....

I would fear less telling Mike Tyson "your mamma's so hot"
Thanks for the reminder but I'm a trader who trades what he see's on his chart and don't bother to think what will the Fed or Bush will say.
Trade what you see, not what you think.
  • #31,911
  • Sep 20, 2007 7:56am Sep 20, 2007 7:56am
Quoting karmostaji
Thanks for the reminder but I'm a trader who trades what he see's on his chart and don't bother to think what will the Fed or Bush will say.
What is the rationale behind your short?
.
  • #31,912
  • Sep 20, 2007 7:57am Sep 20, 2007 7:57am
Quoting karmostaji
Thanks for the reminder but I'm a trader who trades what he see's on his chart and don't bother to think what will the Fed or Bush will say.
I rest
  • #31,913
  • Sep 20, 2007 8:02am Sep 20, 2007 8:02am
Quoting leachimeewg
LOL. Reminds me of my dog. little thing puked a couple of times this morning..
ok.. that didn't reallly make sense did it..

what abt.. "wow... that was a nice 20 pip gap.." :

I am here , sorry for big chart next time will be smaller
  • #31,914
  • Sep 20, 2007 8:07am Sep 20, 2007 8:07am
Quoting bullrock
What is the rationale behind your short?
Fibonacci retracement levels, MA's and price action.. a picture is worth a 1000 words

http://img216.imageshack.us/img216/5085/gjvv8.gif
Trade what you see, not what you think.
  • #31,915
  • Sep 20, 2007 8:08am Sep 20, 2007 8:08am
Quoting karmostaji
Thanks for the reminder but I'm a trader who trades what he see's on his chart and don't bother to think what will the Fed or Bush will say.
Just a note...

I think you are a good trader in a sense that you know well what to do, and when to do it. Your trading strategies seem to be good considering that you are mainly a intraday trader.

However you seem to do something that is completly unprecedented for normal traders.

Sometimes you trade 500 pip targets based on 5-15m charts.

A normal intraday trader makes 20-50 pips in a good trade. You aim for 500 and place 100 pip stops based on "Xminutes" charts signals.

I don't get it... can you explain me what i'm missing here?

Thanks in advance...
  • #31,916
  • Sep 20, 2007 8:13am Sep 20, 2007 8:13am
Usd/cad 0.9999
  • #31,917
  • Sep 20, 2007 8:13am Sep 20, 2007 8:13am
Quoting Warper
Just a note...

I think you are a good trader in a sense that you know well what to do, and when to do it. Your trading strategies seem to be good considering that you are mainly a intraday trader.

However you seem to do something that is completly unprecedented for normal traders.

Sometimes you trade 500 pip targets based on 5-15m charts.

A normal intraday trader makes 20-50 pips in a good trade. You aim for 500 and place 100 pip stops based on "Xminutes" charts signals.

I don't get it... can you explain me what i'm missing here?

Thanks in advance...
Hi Warper,

Thanks for your comments. First of all I don't recall aiming for 500 pips in a trade, most of the time it is 200-300 pips. I mainly focus on 4hr/1hr charts but I use 5/15m charts for entry/exit. My SL most of the time is 100 pips, that is my own rule. I hope it's clear now.
Trade what you see, not what you think.
  • #31,918
  • Sep 20, 2007 8:13am Sep 20, 2007 8:13am
GBP!

yesterday you can push to 2.0173..

today just 2.0113?:

come on...you can do better...
  • #31,919
  • Sep 20, 2007 8:14am Sep 20, 2007 8:14am
I would go long on that one.

Quoting karmostaji
Fibonacci retracement levels, MA's and price action.. a picture is worth a 1000 words

http://img216.imageshack.us/img216/5085/gjvv8.gif
.
  • #31,920
  • Sep 20, 2007 8:14am Sep 20, 2007 8:14am
Quoting Ronald15
I am here , sorry for big chart next time will be smaller
Thanx Ronald.. smaller chart are welcome..
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