Cable Update (GBPUSD)

Quoting Big Wave Rider

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KICK THAT MULE IN THE ASS

Hey it worked last time

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Quoting cesarnc

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I'm going to a workshop on Technical Analisys now. It's in an stock-market-related event, but why not?

If something interesting pops there, I'll share here, so we could give it a try...

Just hope they don't try to stuff EW down my throat and bullrock's "tossing the coin strategy", or people will die there

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Quoting allserene

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and then you must doubt it every day in case conditions are not normal ...

Low self esteem is not the problem on this forum so people like me don't need to be encouraged to believe - we are in need of some restraint...
come on euro believe in your trend and do some more.....drag this twitchy cable thing up with you...

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Quoting cesarnc

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Very good stuff in the workshop. It was focused on fibonacci retracement.

The guy discussed how - in the stock market - they plan to get back on buying after a top is put and a retracement starts. On the daily, actually.

The good part is that in forex we don't have to sit on our hands while the market retraces. We can go short, yes, against the trend (EUR, GBP), thus banking some cash while looking for the next opportunity to reload the long truck...

I'll be watching this when euro starts retracing its last bull run, since there was no bull run in cable.

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Quoting cesarnc

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Very good stuff in the workshop. It was focused on fibonacci retracement.

The guy discussed how - in the stock market - they plan to get back on buying after a top is put and a retracement starts. On the daily, actually.

The good part is that in forex we don't have to sit on our hands while the market retraces. We can go short, yes, against the trend (EUR, GBP), thus banking some cash while looking for the next opportunity to reload the long truck...

I'll be watching this when euro starts retracing its last bull run, since there was no bull run in cable.

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Quoting benssol

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you know in stock markets
I used to trade with 3 tricks
the simplest is
placing order above the retracing bearish bar with 3 ticks and if the next is bearish also I down the order and so on until my order executed

this trick without any indicator or line studies
and it successes 95%

try it in you native stock but without gaps

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Quoting cesarnc

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Yeah. Some of my best trades came from simple thinking like this. When market gets choppy and confusing, I have the tendency to start jerking techis off. Bad idea. For quite sometime I quit this mania and I just sit waiting for definition.

So far I have just 3 trades this week, still on the waiting. No crazy drawdowns, overtrading, stoploss spree, etc.

Another interesting thing is that I started a logbook of my trades. Simple as hell as I'm lazy. Amazing how I quit making stupid trades as, for some psychological effect, filling the log sounds like "justifying" it for somebody else. And when you "see" a trade and have no means to justify it, it's better not taking....

I also adopted the strategy of analisying my day and check if some "boss" would have got me FIRED for what I did during the day LOL... I tell'ya, it works...

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Quoting benssol

Disliked

you know in stock markets
I used to trade with 3 tricks
the simplest is
placing order above the retracing bearish bar with 3 ticks and if the next is bearish also I down the order and so on until my order executed

this trick without any indicator or line studies
and it successes 95%

try it in you native stock but without gaps

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Quoting benssol

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in choppy days like this day I switch to smaller TFs, cause the time we spend in front of monitors, and this stupid MF sit which didnt give us anything except hemorrhoids, all of this must be paid

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Quoting cesarnc

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I stink in smaller timeframes. So I get up and leave. Hemorrhoids + stoploss triggered = pain in the a**

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Quote

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bullrock's "tossing the coin strategy", or people will die there

Quoting cesarnc

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Yeah. Some of my best trades came from simple thinking like this. When market gets choppy and confusing, I have the tendency to start jerking techis off. Bad idea. For quite sometime I quit this mania and I just sit waiting for definition.

So far I have just 3 trades this week, still on the waiting. No crazy drawdowns, overtrading, stoploss spree, etc.

Another interesting thing is that I started a logbook of my trades. Simple as hell as I'm lazy. Amazing how I quit making stupid trades as, for some psychological effect, filling the log sounds like "justifying" it for somebody else. And when you "see" a trade and have no means to justify it, it's better not taking....

I also adopted the strategy of analisying my day and check if some "boss" would have got me FIRED for what I did during the day LOL... I tell'ya, it works...

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Quote

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Why don't you do put it in an FF journal? It's even better than a log book because it becomes a very discipline inducing thing due to criticism.. if you feel comfortable doing it with people watching, that is. The problem with that is some people might think you're showing off somehow, but who cares what they think. I do my journal for just that - for perfectly selfish reasons, using an online forum to put my own activities up and be prepared for discussion and insights from others. my 2 pips.

Quoting SunTrader

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Where that spike come from this time of the night?

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NYTimes reports:

Bear Stearns, its shares and reputation beaten down after the collapse of two hedge funds, has held talks with several investors, including Warren E. Buffett, concerning a possible sale of as much as 20 percent of the firm, people briefed on the discussions said yesterday.
Other interested investors include the Bank of America, Wachovia and two Chinese institutions — the Citic Group and the China Construction Bank, these people said.

Hey how about Soros Jr's dad. He should call him up and tell him to go long Bear Stearns stock. LOL.

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