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Cable Update (GBPUSD)

  • #34,041
  • Oct 4, 2007 8:35am Oct 4, 2007 8:35am
Could you post something soros_junior so the thread is kept alive
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  • #34,042
  • Oct 4, 2007 8:36am Oct 4, 2007 8:36am
Selling the rally @ 2.370. I do not know if I will make it out alive today, but if I do, I'm going to be very happy for the rest of the month.
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #34,043
  • Oct 4, 2007 8:40am Oct 4, 2007 8:40am
Quoting bullrock
Could you post something soros_junior so the thread is kept alive
Fix your strategy, learn from past mistakes, thats all I can say at the moment !!!
Hello World!
  • #34,044
  • Oct 4, 2007 8:44am Oct 4, 2007 8:44am
Quoting Plutonite
Selling the rally @ 2.370. I do not know if I will make it out alive today, but if I do, I'm going to be very happy for the rest of the month.
So thats you who is pushing the price down...
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  • #34,045
  • Oct 4, 2007 8:45am Oct 4, 2007 8:45am
Quoting ClockTrader
Fix your strategy, learn from past mistakes, thats all I can say at the moment !!!
Why are you like that???
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  • #34,046
  • Oct 4, 2007 8:47am Oct 4, 2007 8:47am
I am gonna switch to dailies/weeklies . I have less and less time watch my strades./
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  • #34,047
  • Oct 4, 2007 8:54am Oct 4, 2007 8:54am
Quoting bullrock
So thats you who is pushing the price down...
Nope, that would be this guy. 1st post too!
Quoting marcelom
Just preparing to drop...
  • #34,048
  • Oct 4, 2007 8:55am Oct 4, 2007 8:55am
Quoting bullrock
Why are you like that???
I know its easily said than done, its FX actually with no fundamentals, no laws, no rules.


Only way out is setup a multi million account with 1:10 and buy every 200 pips down and thus invest money n patience in abundance.
Hello World!
  • #34,049
  • Oct 4, 2007 8:59am Oct 4, 2007 8:59am
forex has taken another victim. i remember when i made 7k in one week back in 2004 i thought i was the man then i became a victim. i have since learn from my mistake's, go back see what went wrong bullrock and correct them.
If I Go Broke Trying Then I Will die happy.
  • #34,050
  • Oct 4, 2007 9:06am Oct 4, 2007 9:06am
Quoting Moe
forex has taken another victim. i remember when i made 7k in one week back in 2004 i thought i was the man then i became a victim. i have since learn from my mistake's, go back see what went wrong bullrock and correct them.
I'm really glad to see old ppl like u around, I take it for granted that 95% of the noobs shall disappear within 3 - 6 months. No offense to noobs, but stats say like that.
Hello World!
  • #34,051
  • Oct 4, 2007 9:09am Oct 4, 2007 9:09am
Quoting Moe
forex has taken another victim. i remember when i made 7k in one week back in 2004 i thought i was the man then i became a victim. i have since learn from my mistake's, go back see what went wrong bullrock and correct them.
Yep I have done it... It is actually the too narrow SLs during high volatility... The thing is I should have already to switch to weeklies (decision) dailies (entry) cause I have less and less time. Today was the trigger. I have a sound model but such conditions kills it off. Plus I have miscalculated something, plus I havent stabilised one of the elements of my strategy. All these things together are responsible for my losses. The weekly/daily instead of the daily/hourly setup is also suitable for my strategy and requires less strees and time and can be more careful as I have more time to think... So that is it Moe.. Lesson learn. Actually one 2 600-700 pip week can bring back all my losses. Hope I have luck...
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  • #34,052
  • Oct 4, 2007 9:12am Oct 4, 2007 9:12am
Quoting ClockTrader
I'm really glad to see old ppl like u around, I take it for granted that 95% of the noobs shall disappear within 3 - 6 months. No offense to noobs, but stats say like that.
The ratio of winners to losers hasn’t changed in 50 years - 95% lose and 5% win – So what you may say?

Well think about it:

The ratio of winners to losers has stayed the same and this is despite the increased power of computers in terms of data analysis and forex analysis programs, data analysis, better and more timely news sources and a huge amount of experts wanting to help you.

Doesn’t this fact strike you as odd?

All these advantages! Yet the bulk of traders still find their currency trading strategies lose.

Well there is a simple reason why and it’s an essential part of your forex education:

Forex trading is relatively simple and is as much mindset, as it is a good currency trading system, so learn the points below and you will be able learn forex trading correctly and succeed:

1. Simple systems work best

There is a temptation to devise complicated forex trading systems - after all computers can help you do it easily, but the fact is this will help you lose.

A complicated system has more elements to break – a simple system is best as it is more robust.

2. News is the enemy

Today there is a lot of news and it’s presented well - all those convincing arguments!

All great to hear or read but it will simply help you lose - news is discounted in seconds so it wont help you as the market looks to the future.

3. Volatility Has Increased

The volatility of currency trading has increased with faster communications.

This means you have sharper counter trend moves to deal with and the big challenge today is dealing with it – this has actually made currency trading success harder!

4. The myth of the expert

In today’s society we consult experts on everything, yet currency trading is one area an expert won’t help you.

The fact is success comes from within no one is going to give it you.

Many traders buy worthless e-books for hundred dollars or so and believe the hype and these guys can help – dream on.

They present great marketing copy and normally claim great success – with no substantiation whatsoever and never have a real track record to back up their claims, just a worthless simulated profit in hindsight.

If you want to win, ignore them and find your own way.

Trading the truth

The market price is always right, only you can be wrong and it moves as and when it wants to.

To win you have to create a set of rules to lead you to currency trading success, have confidence in them and the discipline to execute your trading signals.

Most people cant take responsibility for their actions, lose and blame the markets or others for their losses but in reality its their fault.

Most people simply dont have the mindset to win and thats as true today as 50 years ago.
If I Go Broke Trying Then I Will die happy.
  • #34,053
  • Oct 4, 2007 9:16am Oct 4, 2007 9:16am
BR,

I think I'm headed for another small loss now(towards realisation), certainly it seems like a bad day here.

u r not the only one in losses today. somewhere its big and somewhere its small
Hello World!
  • #34,054
  • Oct 4, 2007 9:20am Oct 4, 2007 9:20am
Well see, I have the midset, the willingness, and I am not blaming the market or oanda. I should have known the spread stuff as I have managed to survive it 1999 times but today I was a moron..

I have switched to weeklies straight at 2 pm and opened my longs in GU? and
I am hard-headed and NEVER NEVER GIVE up guy. I have only 2-3 years under my belt so I am newbie still...
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  • #34,055
  • Oct 4, 2007 9:22am Oct 4, 2007 9:22am
Quoting ClockTrader
BR,

I think I'm headed for another small loss now(towards realisation), certainly it seems like a bad day here.

u r not the only one in losses today. somewhere its big and somewhere its small
Yeah I am getting back something.... +200 pips cumulative..
Dont worry I am your man, I am not going to disappear, I have blown up 2 accounts already, have approx 40k in losses still here, still learning and getting closer to success everyday. My trading style changed a lot in the last 6 montsh./
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  • #34,056
  • Oct 4, 2007 9:25am Oct 4, 2007 9:25am
Quoting Moe
The ratio of winners to losers hasn’t changed in 50 years - 95% lose and 5% win – So what you may say?

Well think about it:

The ratio of winners to losers has stayed the same and this is despite the increased power of computers in terms of data analysis and forex analysis programs, data analysis, better and more timely news sources and a huge amount of experts wanting to help you.

Doesn’t this fact strike you as odd?
out of these 5% I assume,

2% are like the insiders (incl. 1:10 types)
1% scalpers (gamer types with tight spread like 0 - 1)
2% with real solid ethics + patience + discipline + skillsets etc. etc.

agree with 1

Quote
2. News is the enemy
I bet

Quote
3. Volatility Has Increased
for many trillions are traded daily

Quote
4. The myth of the expert
I feel like in alien land when people here talk about TA etc.
Hello World!
  • #34,057
  • Oct 4, 2007 9:27am Oct 4, 2007 9:27am
Quoting bullrock
Yeah I am getting back something.... +200 pips cumulative..
Dont worry I am your man, I am not going to disappear, I have blown up 2 accounts already, have approx 40k in losses still here, still learning and getting closer to success everyday. My trading style changed a lot in the last 6 montsh./
just 2 account i have blown at least 10 accounts all in one year, lol, this should give you hope, when this account hit the 1 million dollar mark i will post my account statement for all to see, not bragging but to show that it can be done.
If I Go Broke Trying Then I Will die happy.
  • #34,058
  • Oct 4, 2007 9:28am Oct 4, 2007 9:28am
Quoting bullrock
Yeah I am getting back something.... +200 pips cumulative..
Dont worry I am your man, I am not going to disappear, I have blown up 2 accounts already, have approx 40k in losses still here, still learning and getting closer to success everyday. My trading style changed a lot in the last 6 montsh./
yea man, keep around, don't disappear, no big deal if u've to console me at the end of day while I rejoice ur success :-)
Hello World!
  • #34,059
  • Oct 4, 2007 9:29am Oct 4, 2007 9:29am
Geeez what a really got back 8% so far....
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  • #34,060
  • Oct 4, 2007 9:30am Oct 4, 2007 9:30am
Quoting Moe
just 2 account i have blown at least 10 accounts all in one year, lol, this should give you hope, when this account hit the 1 million dollar mark i will post my account statement for all to see, not bragging but to show that it can be done.
I am relieved now man
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