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Cable Update (GBPUSD)

  • #31,981
  • Sep 20, 2007 11:54am Sep 20, 2007 11:54am
Quoting leachimeewg
Did tell you yesterday nite abt the breakout on UJ.. lol...
I missed second part working... stupid senior management called for meeting and had to stay late..

missed all the new york fun.. whats ur status like? any open? i just opened a short on Fiber.. Cable doesn't look attractive on the charts imho..
Check my journal for details. Also I have posted some stuff here. I have banked approx 500 pips (cumulative) on GU today.. My trailed SL has been hit a 30 minutes ago and I am not doing now anything. I am OK for the day.
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  • #31,982
  • Sep 20, 2007 11:55am Sep 20, 2007 11:55am
Quoting cesarnc
Oh no karmo, I like you too much to have that discussion with you. I have that kind of discussion here previously.

you shorted 0080, so your charts didn't tell you 0144 would be traded first. It was and you vanished. now at 0089 you pop again...

This is not right. Sorry.
I indeed took a risk earlier but my chart showed a possibility of price going up to 0133, anyways you can think what you like.. I wish you good luck.
Trade what you see, not what you think.
  • #31,983
  • Sep 20, 2007 11:57am Sep 20, 2007 11:57am
Quoting bullrock
Check my journal for details. Also I have posted some stuff here. I have banked approx 500 pips (cumulative) on GU today.. My trailed SL has been hit a 30 minutes ago and I am not doing now anything. I am OK for the day.
Great job on the GU.. saw your journal.
  • #31,984
  • Sep 20, 2007 12:05pm Sep 20, 2007 12:05pm
Quoting BullRock
Enter trade at the open of the day. That is how I accumulate. Every day add a new one if bar is ok based on conditions.

I would have added every day when conditions are met. Also for example the 40 pips are understood for the daily trades the position trades SLs are below the previous bars lows.

It's funny you saying this because when i first thought of going to dailies, i looked to the past bull runs and i thought....

"Incredible, with all the indecision "inside" with so many crazy ppl wondering every single day if there will be a multi year reversal, we rarely see downdays. This looks so smooth"

"If i add 1 position everyday at opening i would end up with lots of money with low risk"

I thought i were crazy to think of doing that kind of adding.

I'm seeing i'm not the only one... This Quant Trading thing looks very nice.

But i wonder how much leverage you must use. I hate to use very low leverage. It feels like im wasting a good analysis.

If you dont use very low leverage you must trail your stop everyday.

Low Leverage or Fast Trailing, which one do you use to trade dailies?

PS: Thanks for your help. Im very excited with this change. Looking to the dailies and aplying what i've been learning, it looks that finally i will get rid of stupid UNFAIR choppyness that punishs me sometimes with a perfect direction analysis.
  • #31,985
  • Sep 20, 2007 12:07pm Sep 20, 2007 12:07pm
Quote
Check my journal for details. Also I have posted some stuff here. I have banked approx 500 pips (cumulative) on GU today.. My trailed SL has been hit a 30 minutes ago and I am not doing now anything. I am OK for the day.

now com'n man, raise that thing in your signature, it'll look beautiful :
Hello World!
  • #31,986
  • Sep 20, 2007 12:13pm Sep 20, 2007 12:13pm
Why is it going down at this point?
  • #31,987
  • Sep 20, 2007 12:30pm Sep 20, 2007 12:30pm
Quoting Warper
It's funny you saying this because when i first thought of going to dailies, i looked to the past bull runs and i thought....

"Incredible, with all the indecision "inside" with so many crazy ppl wondering every single day if there will be a multi year reversal, we rarely see downdays. This looks so smooth"

"If i add 1 position everyday at opening i would end up with lots of money with low risk"

I thought i were crazy to think of doing that kind of adding.

I'm seeing i'm not the only one... This Quant Trading thing looks very nice.

But i wonder how much leverage you must use. I hate to use very low leverage. It feels like im wasting a good analysis.

If you dont use very low leverage you must trail your stop everyday.

Low Leverage or Fast Trailing, which one do you use to trade dailies?

PS: Thanks for your help. Im very excited with this change. Looking to the dailies and aplying what i've been learning, it looks that finally i will get rid of stupid UNFAIR choppyness that punishs me sometimes with a perfect direction analysis.
Thats part of the fun... You have to trail the sl every day.. So say the trend goes for 8 days now... Then you have 8 units at your hand but the SL of ALL the units is below the last bar (yesterday) Understand now. Money management, in-trade position management is the most important thing of all....
.
  • #31,988
  • Sep 20, 2007 12:32pm Sep 20, 2007 12:32pm
Quoting AnneMarie
Why is it going down at this point?
End of the day profit taking or retracement you name it.

I am out until tomorrow...

Regards
Bullrock
.
  • #31,989
  • Sep 20, 2007 12:54pm Sep 20, 2007 12:54pm
Quoting cesarnc
Oh no karmo, I like you too much to have that discussion with you. I have that kind of discussion here previously.

you shorted 0080, so your charts didn't tell you 0144 would be traded first. It was and you vanished. now at 0089 you pop again...

Anyone who followed you call and chart had to chew a 64 pips drawdown, possibly getting stopped out. So this is not right. Sorry.
Its amazing how you two (experienced traders) are having this discussion.
I subscribe 100% Cesarnc's position on this one. Following a trend, techis, etc. doesn't conflict with listening and trading according to the wires.
I've recorded this one from Cesarnc: "...fundis spark moves, techis supply baselines for entries and exits...".
In summary, the thing about trends/techis is that you just don't know how it will get there because of the wires.
You may trade the wires and make 10x50pips (up and down, or whatever) or make those 500 by just keeping to the techis. It just depends on the size of your balls regarding margin and SL.
  • #31,990
  • Sep 20, 2007 1:20pm Sep 20, 2007 1:20pm
Quoting supergoncas
Its amazing how you two (experienced traders) are having this discussion.
I subscribe 100% Cesarnc's position on this one. Following a trend, techis, etc. doesn't conflict with listening and trading according to the wires.
I've recorded this one from Cesarnc: "...fundis spark moves, techis supply baselines for entries and exits...".
In summary, the thing about trends/techis is that you just don't know how it will get there because of the wires.
You may trade the wires and make 10x50pips (up and down, or whatever) or make those 500 by just keeping to the techis. It just depends on the size of your balls regarding margin and SL.
Tell you a little secret. In Forex there is only one certain thing that the price will move. News? How the hell you know where the price will go? I've learnt already 1000 times that you cannot predict nothing. Now if you (I am) a daily chart trader than you have better chance to get large trends. (Less noise) And there evrything counts, news fundamentals, long term projections, techis you name it. This bit is known. The real edge is money management.
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  • #31,991
  • Sep 20, 2007 1:50pm Sep 20, 2007 1:50pm
Quoting bullrock
Tell you a little secret. In Forex there is only one certain thing that the price will move. News? How the hell you know where the price will go? I've learnt already 1000 times that you cannot predict nothing. Now if you (I am) a daily chart trader than you have better chance to get large trends. (Less noise) And there evrything counts, news fundamentals, long term projections, techis you name it. This bit is known. The real edge is money management.


Just Trade It
  • #31,992
  • Sep 20, 2007 1:55pm Sep 20, 2007 1:55pm
Quoting bullrock
Tell you a little secret. In Forex there is only one certain thing that the price will move. News? How the hell you know where the price will go? I've learnt already 1000 times that you cannot predict nothing. Now if you (I am) a daily chart trader than you have better chance to get large trends. (Less noise) And there evrything counts, news fundamentals, long term projections, techis you name it. This bit is known. The real edge is money management.
In my warning to karmo, I said "you're taking a position...", I didn't say he should go long instead of short.

HOWEVER

This gentleman Bernanke was to go before the Congress talk about the market he himself shook up 2 days before by making an unprecedent move in two rates. It was veeeerrryyyyy unlikely that he would come saying anything that could mean "rate hike next month".

THEREFORE

The most likely move was supposed to be up.

TECHNICALLY there are 2 traders here who had enough technical reason to trade. 1 to go long, the other to go short, so, in the minimum, INTHE MINIMUM, there were indecision about what trade to take for the people watching the show.

and TECHNICALLY I had euro overbought in the higher timeframes, so I left a small portion to run the rest of the ride. Cable in what I humbly admit a "confusing" price action to me, so I stood out.

I respect anyone's takes in this market, I just hate when my view is commented like garbage or is dismissed with arrogance. I have bags full of cursing words here labelled EW, small timeframe scalping stragegies, etc. And 1 bag full of missing arrogant traders who hijacked this thread and didn't survive the next 200 pips in cable.

Today I just commited to mistake of warning some one I like that he was taking a postion ahead of a major event. And it was MAJOR yes sir, otherwise euro would not be at 1.4096, cad at parity, swiss at 1.7, yen 200 pips off the daily high, shouda stop? wanna more? :

Each one with his own, as long as the pips keep coming.

That's it, I'm back down for the jokes only, which I should not have stopped for forex analysis sake.
  • #31,993
  • Sep 20, 2007 2:03pm Sep 20, 2007 2:03pm
Quoting cesarnc
In my warning to karmo, I said "you're taking a position...", I didn't say he should go long instead of short.

HOWEVER

This gentleman Bernanke was to go before the Congress talk about the market he himself shook up 2 days before by making an unprecedent move in two rates. It was veeeerrryyyyy unlikely that he would come saying anything that could mean "rate hike next month".

THEREFORE

The most likely move was supposed to be up.

TECHNICALLY there are 2 traders here who had enough technical reason to trade. 1 to go long, the other to go short, so, in the minimum, INTHE MINIMUM, there were indecision about what trade to take for the people watching the show.

and TECHNICALLY I had euro overbought in the higher timeframes, so I left a small portion to run the rest of the ride. Cable in what I humbly admit a "confusing" price action to me, so I stood out.

I respect anyone's takes in this market, I just hate when my view is commented like garbage or is dismissed with arrogance. I have bags full of cursing words here labelled EW, small timeframe scalping stragegies, etc. And 1 bag full of missing arrogant traders who hijacked this thread and didn't survive the next 200 pips in cable.

Today I just commited to mistake of warning some one I like that he was taking a postion ahead of a major event. And it was MAJOR yes sir, otherwise euro would not be at 1.4096, cad at parity, swiss at 1.7, yen 200 pips off the daily high, shouda stop? wanna more? :

Each one with his own, as long as the pips keep coming.

That's it, I'm back down for the jokes only, which I should not have stopped for forex analysis sake.
Hope, Sir, you are not talking about me there, coz I respect your comments, listening to them and most of all I like you. And yes the news, comments and events like that moves the markets. How could we make money otherwise???
.
  • #31,994
  • Sep 20, 2007 2:09pm Sep 20, 2007 2:09pm
Quoting bullrock
Hope, Sir, you are not talking about me there, coz I respect your comments, listening to them and most of all I like you. And yes the news, comments and events like that moves the markets. How could we make money otherwise???
I just said there that I never know, I do not want to predict/know, where the market will move after the news/events/. I cannot figure that out.That I use technicals to figure that out... dont take it personal and be pissed off I know you are aknowledgable trader... The reason why I have posted my pips because of the agreement with Clocktrader and the little competition..
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  • #31,995
  • Sep 20, 2007 2:10pm Sep 20, 2007 2:10pm
Quoting cesarnc
I´m out of cable these days...

But I'll look for a price to short when euro starts its correction... POssibly on next week only.
Cesarnc, Why do you think eur will correct and not just further appreciate with minor 20/30/50pips retrace steps in between?
  • #31,996
  • Sep 20, 2007 2:20pm Sep 20, 2007 2:20pm
Quoting ClockTrader
now com'n man, raise that thing in your signature, it'll look beautiful :
Raised :
.
  • #31,997
  • Sep 20, 2007 2:21pm Sep 20, 2007 2:21pm
Now I have done a stupid thing shorted GJ
.
  • #31,998
  • Sep 20, 2007 2:21pm Sep 20, 2007 2:21pm
Quoting supergoncas
Cesarnc, Why do you think eur will correct and not just further appreciate with minor 20/30/50pips retrace steps in between?
PM'd you already...

WE may have another leg up yes. Specially on Trichet on the wires tomorrow. But I'm not loading longs at this level and my short will die @ market if euro does not get below 4050 in the coming hours (38% intraday fib) denoting profit taking.
  • #31,999
  • Sep 20, 2007 2:31pm Sep 20, 2007 2:31pm
uahgghhuuuwwwng !!!!!!!!!!!

Sorry...morning guys !!!!
For he that would be deceived, let him.
  • #32,000
  • Sep 20, 2007 2:32pm Sep 20, 2007 2:32pm
Quoting cesarnc


I respect anyone's takes in this market, I just hate when my view is commented like garbage or is dismissed with arrogance. I have bags full of cursing words here labelled EW, small timeframe scalping stragegies, etc. And 1 bag full of missing arrogant traders who hijacked this thread and didn't survive the next 200 pips in cable.

No one was dissing you or your comments (acutally I was off line awhile so I might of missed it) And whats with you and E.W, you really hate E.W analysis. Yes I know that everybodys wave count is different, mostly because they try to over analize it and make it more complicated. Which is why I dont post on the E.W thread. But E.W is an interesting way of looking at the market, much like MA's, trendlines, chart patterns, piviots.
Remember two traders can look at the same thing, the same MA's, the same trendlines and come up with different conclusions. Which is why its important to post your opinion, right or wrong so people can see a different view and maybe learn something new. It dosnt matter if the analysis that you posted is wrong (everytime I post my analysis it's wrong, which is why I trade in the opposite direction of what I post) what matters is that you share your analysis for the sake of sharing and telling how YOU see the market.

No disrepect intended.
Just Trade It
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