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Cable Update (GBPUSD)

  • #49,241
  • Jan 11, 2008 5:37am Jan 11, 2008 5:37am
Market Wisdom:

BE PATIENT AND LET TIME BE YOUR FRIEND:

Making money safely takes time. the only time to hurry is when you're in trouble. remember, "everyday is not a trading day" only trade when the sector, market, and correlating currency are in trend. just because you want to trade doesn't mean you should. only trade when the probabilities are in your favor, and let the market come to you.

The market is going to do what it is going to do and what you want is irrelevant. don't become addicted to the action. you are not an action junky. you are a high probability trader. profits are made the old fashioned way, one trade at a time. so be patient and make time your friend instead of your enemy.
If I Go Broke Trying Then I Will die happy.
  • #49,242
  • Jan 11, 2008 5:43am Jan 11, 2008 5:43am
You are both right
Been in this Forex thing since 04 and I know better then to try and make sense out of all this. Just find it hard to believe that gdp is in worse shape then then the u s. Go figure! Personaly I snipe more then i do long term, but
for those of you outside the u s - don't buy $ as of right now
Will we be back - yes -- but not until GWB is long gone!
Just glad I don't reliy on this for an income - even though my success rate
is well over 80% - but if I was betting man I would have lost a lot with gbp
this past few days

When in doubt - lay out (as I have ) :-)

Good Luck to all
  • #49,243
  • Jan 11, 2008 5:46am Jan 11, 2008 5:46am
Quoting Moe
Market Wisdom:

BE PATIENT AND LET TIME BE YOUR FRIEND:

Making money safely takes time. the only time to hurry is when you're in trouble. remember, "everyday is not a trading day" only trade when the sector, market, and correlating currency are in trend. just because you want to trade doesn't mean you should. only trade when the probabilities are in your favor, and let the market come to you.

The market is going to do what it is going to do and what you want is irrelevant. don't become addicted to the action. you are not an action junky. you are a high probability trader. profits are made the old fashioned way, one trade at a time. so be patient and make time your friend instead of your enemy.
Well said Brother!

Don't go chasing trades, let the trades come to you!
Humble Lifetime Member
  • #49,244
  • Jan 11, 2008 5:51am Jan 11, 2008 5:51am
based on technical ,does cable go down again tonight?anyone pls ..
  • #49,245
  • Jan 11, 2008 5:51am Jan 11, 2008 5:51am
Quoting golatigo
You are both right
Been in this Forex thing since 04 and I know better then to try and make sense out of all this. Just find it hard to believe that gdp is in worse shape then then the u s.
Market will price in BOE and Fed cutting rates simultaneously.

I don't leave the electric chair to start gambling this situation.
  • #49,246
  • Jan 11, 2008 5:55am Jan 11, 2008 5:55am
Quoting hilmiy2k
based on technical ,does cable go down again tonight?anyone pls ..
YES..
Wait patiently.. it will reward you..
  • #49,247
  • Jan 11, 2008 6:01am Jan 11, 2008 6:01am
Quoting jacobtrader
YES..
Wait patiently.. it will reward you..
would u share us some chart since it makes this thread more into learning and sharing ideas of market rather than emotion?
  • #49,248
  • Jan 11, 2008 6:02am Jan 11, 2008 6:02am
MARKET WISDOM:

DON'T BUY OR SELL ON HOT TIPS:

More money has been lost on trade calls than is in the u.s. treasury. while this is an exaggeration, it does make the point clear. if someone tells you about an investment or a trade, research the recommendation before you put your money into it. most novice investors and traders fall victim to trade calls every day. please don't fall for the story no matter how good it sounds. always use technical analysis to make buy and sell decisions, and buy or sell based on facts and not some shit someone made up.
If I Go Broke Trying Then I Will die happy.
  • #49,249
  • Jan 11, 2008 6:04am Jan 11, 2008 6:04am
Quoting hilmiy2k
based on technical ,does cable go down again tonight?anyone pls ..
Well, the best indicator I have, the price indicator, is UP 90 pips from todays low. What do you think?
  • #49,250
  • Jan 11, 2008 6:06am Jan 11, 2008 6:06am
things here in england right now arent good at all ...nobody this year i know is even spending money..house prises are to high, nobody is buying and nobody wants to sell ..the sales this year for retail ..are also very low

maybe there will be a crash soon...who knows but i doubt things in america are worse ....looking at the weekly chart i cant see any reason why it cant go lower..
just as a say this ..theres a break of trend line...typical, we just have to see if it get retested now..

thx ash and moe for pointing us in the direction of weekly charts too and great advises
  • #49,251
  • Jan 11, 2008 6:08am Jan 11, 2008 6:08am
Quoting jacobtrader
YES..
Wait patiently.. it will reward you..
just tell me one reason why cable should go down.. not two , just one reason.
  • #49,252
  • Jan 11, 2008 6:08am Jan 11, 2008 6:08am
1,9275 tp
  • #49,253
  • Jan 11, 2008 6:10am Jan 11, 2008 6:10am
Quoting Moe
MARKET WISDOM:

DON'T BUY OR SELL ON HOT TIPS:

More money has been lost on trade calls than is in the u.s. treasury. while this is an exaggeration, it does make the point clear. if someone tells you about an investment or a trade, research the recommendation before you put your money into it. most novice investors and traders fall victim to trade calls every day. please don't fall for the story no matter how good it sounds. always use technical analysis to make buy and sell decisions, and buy or sell based on facts and not some shit someone made up.
Market Wisdom:

BUY AND SELL ON CONFIDENCE:

Many times you won't feel quite right about a buy or sell decision. if this feeling persists after you done your research and you have followed the rules to this point, don't take the trade. too many times individuals try to rationalize a decision. don't try to find a good reason for making a bad decision. your decision must be a confident one.
If I Go Broke Trying Then I Will die happy.
  • #49,254
  • Jan 11, 2008 6:11am Jan 11, 2008 6:11am
all this mess earlier today was just speculators movements, nothing fundamental, no reason for us $ to strengthen.
  • #49,255
  • Jan 11, 2008 6:13am Jan 11, 2008 6:13am
Quoting cesarnc
Market will price in BOE and Fed cutting rates simultaneously.

I don't leave the electric chair to start gambling this situation.
220 can kill a guy – hope your chair is only fitted with 110 J
Just enough to wake a guy up now and then!
FYI – You are oh so right – GBP will cut next month and we’ll cut
later this month – prob. .5%
Just glad as I said that I only do this part time!
Making an extra $1000 > 2k a month is kinda nice and helps pay
the bar tab and casino (craps table) tab J
I am a musician - btw - f in drunks anyway

BTW – Please root on the The Seahawks over The Packers on Saturday
I’d be grateful J

Again - good luck to all !!!!!!
And GO SEAHAWKS!
  • #49,256
  • Jan 11, 2008 6:15am Jan 11, 2008 6:15am
Quoting forexguru
all this mess earlier today was just speculators movements, nothing fundamental, no reason for us $ to strengthen.
there is no reason in forex, if you been trading for awhile you will know this, this thing could drop 500 pips next week with out no fundamental reason. you might laugh but ive seen it.
If I Go Broke Trying Then I Will die happy.
  • #49,257
  • Edited 6:27am Jan 11, 2008 6:25am | Edited 6:27am
Quoting Moe
there is no reason in forex, if you been trading for awhile you will know this, this thing could drop 500 pips next week with out no fundamental reason. you might laugh but ive seen it.
I agree with you Moe!

Guys and Gals, Leave your thinking at the door. Follow the charts on daily and weekly. Nothing in Forex, Securities, commodities make sense. If they did, wouldn't everyone be doing it.

Follow the trend. The trend is your Friend. Forget all those systems and analysts calls on TV, etc. follow the charts. It's that easy! A majority of the calls made on this forum are based on 1,5,15,30 minute charts. Not the overall picture.
Humble Lifetime Member
  • #49,258
  • Jan 11, 2008 6:35am Jan 11, 2008 6:35am
Quoting Moe
there is no reason in forex, if you been trading for awhile you will know this, this thing could drop 500 pips next week with out no fundamental reason. you might laugh but ive seen it.
I trade for 5 years, double bottom on 4 hours charts, take a good look.
  • #49,259
  • Jan 11, 2008 6:56am Jan 11, 2008 6:56am
Quoting forexguru
I trade for 5 years, double bottom on 4 hours charts, take a good look.
GBP will fall due to Expectation BOE will cut next month..
USD weakness remains on the board.. but Technically GBP/USD will fall by next week.. enjoy
  • #49,260
  • Jan 11, 2008 7:00am Jan 11, 2008 7:00am
Quoting jacobtrader
GBP will fall due to Expectation BOE will cut next month..
USD weakness remains on the board.. but Technically GBP/USD will fall by next week.. enjoy
to enjoy the fall of cable? .. just look on your charts and see that is going higher as the time pass by.
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