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Cable Update (GBPUSD)

  • #32,121
  • Sep 21, 2007 7:13am Sep 21, 2007 7:13am
Quoting de123
no actually, on mine...LOL, they were really cheap, the news are just for the ppl to read and feel ok. i guess, but maybe it help some...its all about the cut, now its cheaper to buy a car, ...they are still cheap,...and still got room for another +7, but maybe after a small pulback...bmw and ren outperforming...
Well, then your pick is goldman's pick. Can't see any better trade LOL

I got a cousin trading the stock market here in Brazil. So far doing fine. I went to a lecture as to learn the basics of trading, but know what? to hell with that... Big commissions, months taxes, huge work to squeeze some $ out. That's for me, I mean. You do a great job in that market as it seems.

I can squeeze the same $ out of forex easier and cheaper... LOL...
  • #32,122
  • Sep 21, 2007 7:16am Sep 21, 2007 7:16am
cesarnc... what about your short trade?

i know you moved your SL to BE yesterday because you knew the risk but common ... did you take the lesson?

i confess i was hoping for EU to do that... because you know. YOU KNOW, but you are stubborn with yourself.

You have the knowledge. You know what to do! But you surprise me sometimes and you come up with that... "hey let me do one thing that I KNOW i shouldn't and never worked in the past"

I hope you don't get this wrong, and i'm not trying to play a teacher. I'm not!

But i know that you are probably 1 step away from big sucess. And that step is only... Don't trade without a reason. You know i'm right!!!
  • #32,123
  • Sep 21, 2007 7:17am Sep 21, 2007 7:17am
Quoting cesarnc
Nice

http://www.bloomberg.com/apps/news?p...KFo&refer=home

More of this stuff to get folks all lookin' in the "same" direction!
To laugh, to learn, and to teach!
  • #32,124
  • Sep 21, 2007 7:22am Sep 21, 2007 7:22am
Quote
CT..
Am dying with anticipation to see you post a -1% to +8% to trump our friend here.. :

well, thanks man for your kind feelings n wishes, though I call it competition too, but its more of like a motivating factor, to come up with something good, to prove our patience, discipline and skill sets by making more % than the other(BR).

I got something cooking here, but wish to keep low until I have taken some P/L.
Hello World!
  • #32,125
  • Sep 21, 2007 7:26am Sep 21, 2007 7:26am
Quoting ClockTrader
well, thanks man for your kind feelings n wishes, though I call it competition too, but its more of like a motivating factor, to come up with something good, to prove our patience, discipline and skill sets by making more % than the other(BR).

I got something cooking here, but wish to keep low until I have taken some P/L.
Its friendly competition. I hear you about it being a motivating factor.
Personally I'm trying out a systematic and disciplined way of trading. I realized its important to have a game plan.. right after I blew 200% of profits made within 1 and 1/2 week in a couple of days because of indiscipline and over-leverage.
  • #32,126
  • Sep 21, 2007 7:26am Sep 21, 2007 7:26am
Quoting Warper
cesarnc... what about your short trade?

i know you moved your SL to BE yesterday because you knew the risk but common ... did you take the lesson?

i confess i was hoping for EU to do that... because you know. YOU KNOW, but you are stubborn with yourself.

You have the knowledge. You know what to do! But you surprise me sometimes and you come up with that... "hey let me do one thing that I KNOW i shouldn't and never worked in the past"

I hope you don't get this wrong, and i'm not trying to play a teacher. I'm not!

But i know that you are probably 1 step away from big sucess. And that step is only... Don't trade without a reason. You know i'm right!!!
Was stopped out at B/E. No crisis...

Jumped back in euro shorts today, 50 pips off the highs...Will lock at B/E soon.

My "core trading" right now is waiting for a cheap price to go long euro again. Anything between 3900/3800 would work for me. In the meawhile, I'll try a short until we get there...

My scenario is some profit taking in this pair for next week on lack of big time fundamentals and month end...

Of course, I could be wrong...
  • #32,127
  • Sep 21, 2007 7:32am Sep 21, 2007 7:32am
US CAD acting funny. All eyes on that pair today.
Just Trade It
  • #32,128
  • Sep 21, 2007 7:32am Sep 21, 2007 7:32am
Quote
because of indiscipline and over-leverage

I trade at 1:100, I have no idea how I do it, its damn so risky man, whatever thats how most of us enter and grow up here. Only the wealthy guys have right size account to afford 1:10 and yet make living out of it. Hope you know what I mean.
Quote
Jumped back in euro shorts today, 50 pips off the highs...Will lock at B/E soon.

My "core trading" right now is waiting for a cheap price to go long euro again. Anything between 3900/3800 would work for me. In the meawhile, I'll try a short until we get there...

This is what I meant when you said your brain was about to pop under the profit pressure off that long euro.

Pressure from profits can be immense to blow our patience.
Hello World!
  • #32,129
  • Sep 21, 2007 7:33am Sep 21, 2007 7:33am
Quoting ClockTrader
well, thanks man for your kind feelings n wishes, though I call it competition too, but its more of like a motivating factor, to come up with something good, to prove our patience, discipline and skill sets by making more % than the other(BR).

I got something cooking here, but wish to keep low until I have taken some P/L.
Yes... It is a friendly competition... And at the end of the day everyone will be happy... Next week I will cook under hood as well and reveal when it is "fait accomplie"..

regards
.
  • #32,130
  • Sep 21, 2007 7:38am Sep 21, 2007 7:38am
Quoting ClockTrader
This is what I meant when you said your brain was about to pop under the profit pressure off that long euro.

Pressure from profits can be immense to blow our patience.
On the eve of the rate statement, I adopted a new strategy and got rid of those crazy trades I was trying to pursuit.

In that sense, when euro was at 4064, I was floating in twice my weekly target, what was "mind blowing" . The dilema was between the greed and the awsome profit at that time. Decided not to go greedy. LOL...

There is no such thing as "profit I would have made". There are profit we make, loss we take.
  • #32,131
  • Sep 21, 2007 7:41am Sep 21, 2007 7:41am
Quoting ClockTrader
I trade at 1:100, I have no idea how I do it, its damn so risky man, whatever thats how most of us enter and grow up here. Only the wealthy guys have right size account to afford 1:10 and yet make living out of it. Hope you know what I mean.
My leverage is up to 1:100 too, typically I use 50% of the leverage.. the more I made, I just kept on increase my lot sizes.. lol... 1 bad day. thats all.. lol..

Mistakes make you learn.

I trade about 1:15 on the average now, and my strategy is to make 30pips/lot per day, 20days a month and I ONLY trade 2 lots at any given time.

No News Trading

No holding to -170 pip losses and "thinking" the trend will reverse. :
  • #32,132
  • Sep 21, 2007 7:42am Sep 21, 2007 7:42am
Anyone seen this?

This is insane...

http://img231.imageshack.us/img231/7264/fxnw9.png


Oanda traders are USD bulls at least since the beggining of the month. And increased the shorts on EU and increased Longs on Usd/Cad yesterday.

Result... the dealers pushed the price a few pips and BANG, stops here we go....
  • #32,133
  • Sep 21, 2007 7:43am Sep 21, 2007 7:43am
Quoting cesarnc
On the eve of the rate statement, I adopted a new strategy and got rid of those crazy trades I was trying to pursuit.

In that sense, when euro was at 4064, I was floating in twice my weekly target, what was "mind blowing" . The dilema was between the greed and the awsome profit at that time. Decided not to go greedy. LOL...

There is no such thing as "profit I would have made". There are profit we make, loss we take.
I am glad I am reading this post. I have closed down completely beacause I have reached my weekly target and recovered all the losses from morning. The now I see that prices jumped and go ahead in my direction and thinking "i fI would have stayed I would have made more" GREED. I have chosen the rationale that I have made enough and let the greed die. This post just reinforces my thought. Usually on Fridays I also loose so I try to stay away from studpid trades. So I am glad I read this and not tempted to press the button. Have a good week-end
.
  • #32,134
  • Sep 21, 2007 7:43am Sep 21, 2007 7:43am
I am long USCAD. no target or take profit but will watch fibo and piviots
Just Trade It
  • #32,135
  • Sep 21, 2007 7:44am Sep 21, 2007 7:44am
Quoting cesarnc
On the eve of the rate statement, I adopted a new strategy and got rid of those crazy trades I was trying to pursuit.

In that sense, when euro was at 4064, I was floating in twice my weekly target, what was "mind blowing" . The dilema was between the greed and the awsome profit at that time. Decided not to go greedy. LOL...

There is no such thing as "profit I would have made". There are profit we make, loss we take.
How about
the loss I would have made
.
  • #32,136
  • Sep 21, 2007 7:56am Sep 21, 2007 7:56am
Quoting bullrock
How about
the loss I would have made

Like CAD right now soon as I enter here comes a bear candle.
Just Trade It
  • #32,137
  • Sep 21, 2007 8:02am Sep 21, 2007 8:02am
Quoting Big Wave Rider
Like CAD right now soon as I enter here comes a bear candle.
USDCAD is BLOWN UP in all higher timeframes.

Technically, it is due to some healthy correction now that the parity was traded. No doubt it would be a target. But it's going to be hard to find fresh selling at those levels. IMO.

I have no plans for this pair, though.
  • #32,138
  • Sep 21, 2007 8:03am Sep 21, 2007 8:03am
I don't have comments on the CAD. Don't have experience on the pair..
I think Fiber is just waiting to break out.
Very strong support currently, just keep bouncing off the daily pivot..
  • #32,139
  • Sep 21, 2007 8:23am Sep 21, 2007 8:23am
I am just SOOOOOOOOOOOOOOOOOO STUUUUUUUUUUUUUPIIIIIIIIDDD and IMPAAAAAAAAAAATIEEEEEEENTT. ARRGGGGGGGGH Closed all my trades bacuse of the GreatFridayFear... And look muy positions would have made more money for me..



WTF WTF WTF... I go and drink a whole bottle of absolut vodka..... Anyway I have to go now... Buy for now....
.
  • #32,140
  • Sep 21, 2007 8:25am Sep 21, 2007 8:25am
Quote
Decided not to go greedy. LOL...

There is no such thing as "profit I would have made". There are profit we make, loss we take.

Dude, closing the position in profits is greed,

If I were in your shoes I'd put 80 pips trailing BE on euro and 120 trailing BE on cable. I'll try to share a visual example with you on this topic in future and explain my point.

In your words, before NFP did ya know the wave you were on, you never know which one is a silver bullet ?

Quote
Yes... It is a friendly competition... And at the end of the day everyone will be happy... Next week I will cook under hood as well and reveal when it is "fait accomplie"..



Quote
I trade about 1:15 on the average now, and my strategy is to make 30pips/lot per day

I usually prefer riding a wave spanning 1 - 2 weeks or more, while doing so I often get BEs / SLs hit making little or nothing, but one wave a month and I'm done with targets for 2 - 3 months :-)

I prefer crumbs only if its too boring OR if I just wana cover some sort of stupid losses.
Hello World!
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