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Cable Update (GBPUSD)

  • #5,061
  • Jan 4, 2007 6:34pm Jan 4, 2007 6:34pm
BTW, I would definitely quit these shorts around the 1.9338 level, if it gets that far. If it goes down to 1.9178 I would get really squirelly. That's just what I would do, I'm not giving any kind of investment advice. I'm out now and looking for the next thing like this that will make me $$. You all can have the extra pips, my battle is over for now. I absolutely won this battle, and even if I lose the next one, I'll still win the war.

It is a war no matter what any hippy-dippy people might want to tell you folks! Let's fight! Let's get it on!
"The time to act is when others show signs of tire." --W.D. Gann
  • #5,062
  • Jan 4, 2007 6:34pm Jan 4, 2007 6:34pm
Quoting pipped oFF
Yep i see it, looks good. 1st post btw hi there everyone.
One of the best screen names yet. I did a list of screen names involving the word pip in my head once. I didnt think of this one. Brilliant.

My opinion is this pair will be in a range for a few months and will be heading back upside tommorrow. But then again I know nothing. Thanks
  • #5,063
  • Jan 4, 2007 6:38pm Jan 4, 2007 6:38pm
Quoting dukeofdents
BTW, I would definitely quit these shorts around the 1.9338 level, if it gets that far. If it goes down to 1.9178 I would get really squirelly. That's just what I would do, I'm not giving any kind of investment advice. I'm out now and looking for the next thing like this that will make me $$. You all can have the extra pips, my battle is over for now. I absolutely won this battle, and even if I lose the next one, I'll still win the war.

It is a war no matter what any hippy-dippy people might want to tell you folks! Let's fight! Let's get it on!
Hippy Dippy? Read a book redneck. Or even start with my charity post to educate your narrow and limited understanding..
  • #5,064
  • Jan 4, 2007 6:44pm Jan 4, 2007 6:44pm
bought @ 9399 - looking for move to 9435 sl @ 9373 - 00 fade is on, lets see what happens - the stop loss will be manual as that area is bottom of channel and may spike there - so will see if it reaches that level how it closes on 150 tick chart first and more importantly on 1600 tick chart.
Man who scratches ass should not bite fingernails
  • #5,065
  • Jan 4, 2007 6:52pm Jan 4, 2007 6:52pm
nearing the bottom of the channel, if spikes below and closes above, will add on a few more.
Man who scratches ass should not bite fingernails
  • #5,066
  • Jan 4, 2007 6:52pm Jan 4, 2007 6:52pm
Quoting dukeofdents
Also, everyone who trades longer-term charts instead of getting screwed by their bucket shop on 15 minute time frames should take profits on this short now, while it's resisting 1.94, which is a major psychological level. If you get back in later all you pay is the spread plus your differential between when you took profits and when you re-shorted. I don't like what's happening right now, I'll just wait for London.

If you trade off 15 minute charts, then God help you... And thanks for the $$$!
dukeofdents, I have begun and deleted several responses to several of your posts, but I am not going to delete this one. Would you please consider not knocking other traders' trading styles? It sounds as though you have been very unsuccessful trading off of 15-minute charts. I personally trade off of 5-minute charts and have an 80% "winning" trade record (live account). I am guessing there are many other traders trading off of 5- and 15-minute charts who are doing much better than I am. If your trading style uses longer-term charts, then good for you. I hope you continue making lots of $$$; but please stop bashing others who are successfully employing other styles.
  • #5,067
  • Jan 4, 2007 6:56pm Jan 4, 2007 6:56pm
Bottom of channel is @ 9376. IF it gets there, lets see how it behaves.
Man who scratches ass should not bite fingernails
  • #5,068
  • Jan 4, 2007 6:57pm Jan 4, 2007 6:57pm
I use 5 minute charts. I love it!! Made me 178 pips in the past 24 hours


I just wouldnt trade any other way
trading on demo is not trading
  • #5,069
  • Jan 4, 2007 6:57pm Jan 4, 2007 6:57pm
I am fairly disappointed with my projected outcome, due to this. This is my last post!! good luck everyone.
  • #5,070
  • Jan 4, 2007 6:58pm Jan 4, 2007 6:58pm
Quoting dukeofdents
Also, everyone who trades longer-term charts instead of getting screwed by their bucket shop on 15 minute time frames should take profits on this short now, while it's resisting 1.94, which is a major psychological level. If you get back in later all you pay is the spread plus your differential between when you took profits and when you re-shorted. I don't like what's happening right now, I'll just wait for London.

If you trade off 15 minute charts, then God help you... And thanks for the $$$!
I really would like to know what you have against the 5, 15, or 1hr chart for that matter. Bucket shops???? please explain.....


thanks,

mackeymax
He who hesitates is hesitant....which always leads to bad entries.
  • #5,071
  • Jan 4, 2007 7:01pm Jan 4, 2007 7:01pm
close out half stop to break even who's drive'n this bus anyway
  • #5,072
  • Jan 4, 2007 7:03pm Jan 4, 2007 7:03pm
Quoting rdrainey
dukeofdents, I have begun and deleted several responses to several of your posts, but I am not going to delete this one. Would you please consider not knocking other traders' trading styles? It sounds as though you have been very unsuccessful trading off of 15-minute charts. I personally trade off of 5-minute charts and have an 80% "winning" trade record (live account). I am guessing there are many other traders trading off of 5- and 15-minute charts who are doing much better than I am. If your trading style uses longer-term charts, then good for you. I hope you continue making lots of $$$; but please stop bashing others who are successfully employing other styles.
I agree, just because you trade off of longer term charts doesn't mean easy pickens. short term charts are only difficult because you must be very in tune with your system, have a plan, and execution must be flawless. In fact, the number one factor for me is, in fact, efficient execution. Of course longer term charts setups usually means larger risk and reward and as such, 80-90% efficiency on execution may still get you by, but doesn't mean your better than anyone. If you are so good and feel the need to show it, please make your calls for everyone to enjoy and leave the unconstructive criticism for your own trading.
Man who scratches ass should not bite fingernails
  • #5,073
  • Jan 4, 2007 7:03pm Jan 4, 2007 7:03pm
The Bus has been dying to go down... I have had a short since 2p.m today. On all my charts the trend was down. I don't ever trade against the trend. So once it caught all its air it went with the flow
trading on demo is not trading
  • #5,074
  • Jan 4, 2007 7:03pm Jan 4, 2007 7:03pm
Quoting yulvme
I am fairly disappointed with my projected outcome, due to this. This is my last post!! good luck everyone.
see if it turns here, we are at the bottom of the channel.
Man who scratches ass should not bite fingernails
  • #5,075
  • Jan 4, 2007 7:04pm Jan 4, 2007 7:04pm
Quoting yulvme
I am fairly disappointed with my projected outcome, due to this. This is my last post!! good luck everyone.
hey don't go welvya
  • #5,076
  • Jan 4, 2007 7:07pm Jan 4, 2007 7:07pm
Quoting MACKEYMAX
I really would like to know what you have against the 5, 15, or 1hr chart for that matter. Bucket shops???? please explain.....


thanks,

mackeymax
No good Retail platforms aka "bucket shops" have been known to not execute traders who have a poor track record. They take the orders on the platform and essentially take the opposite position. Bucket shops sprung up in the 1920's, I believe, as a sort of neighborhood broker. Since the quotes came on the ticker, the brokers could manipulate the data to screw the customers. The tickets were placed into actual buckets at these establishments hence the phrase
  • #5,077
  • Jan 4, 2007 7:09pm Jan 4, 2007 7:09pm
Guys market sentiment is short. Bad data today for USD and dollar remains strong look for your turn up here at this point. From here looking like we should hit 9590 to 9600. If bounce does not happen at 9230's look for 9040's. otherwise 9590's looking good then the short to 9040's.
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  • #5,078
  • Jan 4, 2007 7:09pm Jan 4, 2007 7:09pm
Quoting enzo2325
The Bus has been dying to go down... I have had a short since 2p.m today. On all my charts the trend was down. I don't ever trade against the trend. So once it caught all its air it went with the flow
Where do u think is the bottom for the
  • #5,079
  • Jan 4, 2007 7:09pm Jan 4, 2007 7:09pm
Quoting yulvme
I am fairly disappointed with my projected outcome, due to this. This is my last post!! good luck everyone.
Its not just about where is it going, but also how is going to get there. You may still be correct in your analysis but have tried to force the market to get there your way. Look at the many possibilities of how it can get there and build into it so as to control your risk. We still need 200 more ticks to close out the 1600 tick bar, I feel like this baby will turn, but if not, I am out, if so, I will add to position but at minimal risk. Don't be discouraged on 1 trade. Try instead to learn from it, even if you lost $$ look at it as tuition and make sure that you capitalize on what you have learned..
Man who scratches ass should not bite fingernails
  • #5,080
  • Jan 4, 2007 7:10pm Jan 4, 2007 7:10pm
Quoting enzo2325
The Bus has been dying to go down... I have had a short since 2p.m today. On all my charts the trend was down. I don't ever trade against the trend. So once it caught all its air it went with the flow
Where do u think is the bottom for the retrace?
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