Trade what you see, not what you think. 
Cable Update (GBPUSD)
- #47,563
- Edited 7:08pm Dec 31, 2007 6:44pm | Edited 7:08pm
- | Joined Dec 2007 | Status: Tman | 48 Posts
Here's the deal. After making fabulous % profit several times while this thing was going bull, I let it slide down (and still holding) at -256 pips!, for a loss of $256. Now, I looked at your stuff, but so much for support and resistance, and fib's. I don't know how anyone can predict (I said PREDICT) the market without using Elliot Wave, and even THEN, it is HARD to interpret, as EWI just got it WRONG. However, they're all too clever in the way they post AFTER the fact.
Thanks for you input. I just lost about 3 weeks worth of profits (mostly) unless this thing goes DIRECTLY up -- NOW.
Even if you had not set a stop-loss, somewhere long before even -50 pips you should have been asking yourself if there was a good reason for still being in that trade, or "If I wasn't in a trade now would I want to be?"
I doubt it took 256 pips to realize you were wrong. Most of the time a loss like this is from trying too hard to be right; hoping, wishing, praying (yelling Up! Cable Up!) for a reversal; or trying to make up for losses rather than trying to make money. All good ways to loose a lot of money.
You have no control over the market or what it's supposed to do or not do. You can make a prediction based on patterns, and take a trade, but the market does not care about you or your opinion. The only thing you have control over is your entry and exit (most of the time). You have to be able to accept that your going to be wrong alot and cut your losses short and move on, otherwise you will kill your account pretty rapidly.
Lets see...what other appropriate cliches can I think of...
"The trend is your friend, or your worst enemy if you choose to ignore it"
"Don't try to catch a falling knife"
"Snatch defeat from the jaws of victory"
"Find ten Elliot Wavers and you'll find ten different opinions"
- #47,566
- Jan 1, 2008 2:52am Jan 1, 2008 2:52am
i have one question -
who guys are win the market and not loose money everyday
today you win and tommorrow you losti have really understand this
problem is there anyone make money with forex trading 100% without loosing the money???????
i have all the way technically gone and its looks wrong and market just went opposite direction
i have seen earlier forexguru told he goes short and went long all the way
if you connect the guru behind forex and you are loosing so who is winning in this forex trading?
if you are winner for everyday just post here that you can win forex trading - i dont believe it
Here is one good example of a profitable trader. People do make profit, but they are not going to teach you here. Listening to courtroom chats can make one to win 1 or 2 cases but it can also embarrass or humiliate one when you least expected.
Good dollar news and GBP falls Nicly! I am out with 64pips. Should of stayed longer but greed has bitten me before. Thats me for the year. Sydney already celebrating new year we have 7hours to wait. Happy new year to all!!!!
This was after my chaos system and discussion gave them between 50-80pips (bullish) gain to the upper end of chaos. I predicted the day to be bullish. And we did harvested those pips to the upper end of chaos. I asked them to leave market and I left to church to prepare for celebrations of the New Year with the church choir at Mid-day my time. I never came back to my PC until this morning. Even if I was around, it could be obvious what to do next from upper edge.
Designer1: believe it or not, we cannot predict the market beyond our nose – that is 24hrs: for those who do longer term forecast , it is not because they know how to or have the capability, but because the market is trending in their direction. Think about the top quality analysis coming from the so-called professionals, 1k members or institutional traders on this forum on what the market will be in 2008? I am always amused because these guys cannot tell what the market will be today or tomorrow. Why worry for long term?
Recall your response to the issue of market has no logic once posted by Forexguru and your response? Do you now agree that market has no logic or not? Do you now agree that Fibs levels, Support and Resistance, (especially weekly and monthly support and resistance), SMA, EMA, CCI, Demark, Bill Williams indicators, all follow the market and not the MARKET following them. Especially for retail traders learn to follow the market and not indicators. Until you understand that you can trade without them one will always have case such as
Here's the deal. After making fabulous % profit several times while this thing was going bull, I let it slide down (and still holding) at -256 pips!, for a loss of $256. Now, I looked at your stuff, but so much for support and resistance, and fib's. I don't know how anyone can predict (I said PREDICT) the market without using Elliot Wave, and even THEN, it is HARD to interpret, as EWI just got it WRONG. However, they're all too clever in the way they post AFTER the fact.
Thanks for you input. I just lost about 3 weeks worth of profits (mostly) unless this thing goes DIRECTLY up -- NOW.
- Do not worry about what market will do tomorrow, wait for tomorrow to come.
- Think more on what will happen to you if Q.S is not around to give call
- Think more on how right or wrong the calls you take are.
- Think more on how the call was derived? Was it based on hopes that market will move against the emerging trend when only it is a correction.
- Think about the method you are using. Are you following the market directly by yourself, or you are following calls of another trader? or you are following indicators that follow the market before you enter or leave the market?
Happy New Year
- #47,567
- Jan 1, 2008 5:25am Jan 1, 2008 5:25am
nice post, but what is your crystal ball all about?
Designer was long yesterday, I do not understand why he complained. If he already had more than 100 pips profit and he wanted more.. then he was punished by the market. If you are greedy or if you are not quick, market will always punish you.
As for the sure winners who always make profit in forex designer.. are all forex brokers! Think about it!!
HAPPY NEW YEAR !!
-----------------------------
Designer was long yesterday, I do not understand why he complained. If he already had more than 100 pips profit and he wanted more.. then he was punished by the market. If you are greedy or if you are not quick, market will always punish you.
As for the sure winners who always make profit in forex designer.. are all forex brokers! Think about it!!
HAPPY NEW YEAR !!
-----------------------------
Here is one good example of a profitable trader. People do make profit, but they are not going to teach you here. Listening to courtroom chats can make one to win 1 or 2 cases but it can also embarrass or humiliate one when you least expected.
I was trading with two clients of mine and I told them that the market is going teach people a lesson yesterday. How do I knew it. Because I could see it clearly on my chaos crystal ball.
This was after my chaos system and discussion gave them between 50-80pips (bullish) gain to the upper end of chaos. I predicted the day to be bullish. And we did harvested those pips to the upper end of chaos. I asked them to leave market and I left to church to prepare for celebrations of the New Year with the church choir at Mid-day my time. I never came back to my PC until this morning. Even if I was around, it could be obvious what to do next from upper edge.
Designer1: believe it or not, we cannot predict the market beyond our nose – that is 24hrs: for those who do longer term forecast , it is not because they know how to or have the capability, but because the market is trending in their direction. Think about the top quality analysis coming from the so-called professionals, 1k members or institutional traders on this forum on what the market will be in 2008? I am always amused because these guys cannot tell what the market will be today or tomorrow. Why worry for long term?
Recall your response to the issue of market has no logic once posted by Forexguru and your response? Do you now agree that market has no logic or not? Do you now agree that Fibs levels, Support and Resistance, (especially weekly and monthly support and resistance), SMA, EMA, CCI, Demark, Bill Williams indicators, all follow the market and not the MARKET following them. Especially for retail traders learn to follow the market and not indicators. Until you understand that you can trade without them one will always have case such as
How to reflect on the New Year.
- Do not worry about what market will do tomorrow, wait for tomorrow to come.
- Think more on what will happen to you if Q.S is not around to give call
- Think more on how right or wrong the calls you take are.
- Think more on how the call was derived? Was it based on hopes that market will move against the emerging trend when only it is a correction.
- Think about the method you are using. Are you following the market directly by yourself, or you are following calls of another trader? or you are following indicators that follow the market before you enter or leave the market?
Happy New Year
- #47,568
- Jan 1, 2008 5:42am Jan 1, 2008 5:42am
- | Commercial User | Joined Aug 2007 | 6,072 Posts
Hello World!
- #47,569
- Jan 1, 2008 6:17am Jan 1, 2008 6:17am
- Joined Sep 2006 | Status: Trader | 2,163 Posts
had a real bad month, cable screwed me real bad :-(
"Invest With The Insiders, Not The Masses"
George Muzea
- #47,570
- Jan 1, 2008 6:18am Jan 1, 2008 6:18am
- Joined Sep 2006 | Status: Trader | 2,163 Posts
Hi fxbroker,
How are you bro. Long time didn't talk with you
Wish you happy new year..
How are you bro. Long time didn't talk with you
Wish you happy new year..
"Invest With The Insiders, Not The Masses"
George Muzea
- #47,571
- Jan 1, 2008 6:32am Jan 1, 2008 6:32am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #47,573
- Jan 1, 2008 7:09am Jan 1, 2008 7:09am
- Joined Nov 2007 | Status: left CanaryWharf desk-tea break | 24,286 Posts
On-site guru & also FF member's' psychiatrist, when not drinking tea
- #47,574
- Jan 1, 2008 7:26am Jan 1, 2008 7:26am
Hi fxbroker,
How are you bro. Long time didn't talk with you
Wish you happy new year..
Doing well Q.S. You left your flocks for too a long time!!!!!!
You are great analysts, I am still wondering how you get your
inside information -----you remember the famous "the Chinese
are coming statement"? and they did pumped in money that day!
I must say this is one of the greatest thread on FF whether you
are around or not wonder shall never stop in this thread
Can you tell us whether to go UP OR DOWN THROUGHOUT 2008
I mean before the start of 2008 trading.
I will help with real HEAVY STONES ON TOP or below CABLE
COME TOMORROW!
- #47,577
- Jan 1, 2008 10:08am Jan 1, 2008 10:08am
The system is called 20/20 and I have a skype group I make the trade calls on. You start with 200.00 usd and at the end of the 20 steps you have 7500.00 dollars. I run the skype room and make trade calls with the help of a few people.
Do it as fast as possible
- #47,580
- Jan 1, 2008 12:13pm Jan 1, 2008 12:13pm
i am going to try one thing
i have seen EMA cross over indicator and one is most professional indicator is
stochastic if we go with little big time frame trend like daily and follow the stochastic direction when its most bottom or most top that time sell or buy possible and wait for max 300 to 500 pips even more
this indicator i have seen in history works perfectly...i am look forward to try that one from now in big time frame daily one
is there anyone using same thing with big time frame?
i have seen one thing while we were talking about up or down but when price was 9810 that time stochastic was bottom and cross and trying to start to go up its clearly target was up 200 pips more
its go up and up and touch the 2.0105 it was easy call by stochastic but we werent go with daily timeline and missed the pips and also stress
Happy New Year!
i have seen EMA cross over indicator and one is most professional indicator is
stochastic if we go with little big time frame trend like daily and follow the stochastic direction when its most bottom or most top that time sell or buy possible and wait for max 300 to 500 pips even more
this indicator i have seen in history works perfectly...i am look forward to try that one from now in big time frame daily one
is there anyone using same thing with big time frame?
i have seen one thing while we were talking about up or down but when price was 9810 that time stochastic was bottom and cross and trying to start to go up its clearly target was up 200 pips more
its go up and up and touch the 2.0105 it was easy call by stochastic but we werent go with daily timeline and missed the pips and also stress
Happy New Year!