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Cable Update (GBPUSD)

  • #50,941
  • Jan 24, 2008 11:19am Jan 24, 2008 11:19am
Also the major trend is still down....
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  • #50,942
  • Jan 24, 2008 11:19am Jan 24, 2008 11:19am
Quoting AmeriTrini
why do people like going short when the market is going UP!! these are the gamblers!!
because they like scalping..and 90% is victim Market Maker.
  • #50,943
  • Jan 24, 2008 11:20am Jan 24, 2008 11:20am
Quoting dobbie11
well it is all a gamble anyway isn't it. and I believe this is the beginning of wave "B" a correction of the the last move down. And you are correct sir the market is changing and going long. But we also need a minor retracement to form a wave 2 for a wave 3 up to complete wave "B" . So the 735 to 750 range is a nice short and tp at the 38.2 and 50 fib levels. This is a 2:1 risk. So how is it a gamble and before the move up I beleive we were looking short.
"Educated guess", "gambling" is that I hear all day from the non-educated outsiders and non-traders. Are you from there?
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  • #50,944
  • Jan 24, 2008 11:26am Jan 24, 2008 11:26am
Quoting AmeriTrini
if you think its all a gamble. instead, go the hard rock and "trade" there!
Well I posted my opinion. But I am sorry you do not agree with it and have to make wise ass remarks. But I was also a professional Black Jack player so that is not a problem either. But when you get 100% of your trades correct then maybe you can teach us all. Until then just roll with the punches. But here is another little tib bit for you. If you open a business with 100k are you 100% sure that business will succed, no it is a gamble. It is all a gamble everything we do. Think about it sir. And if the horly candle can close below 1.9705 I will stay in the short if not I will close it. And I am up 19 pips right now.
  • #50,945
  • Jan 24, 2008 11:32am Jan 24, 2008 11:32am
Quoting bullrock
"Educated guess", "gambling" is that I hear all day from the non-educated outsiders and non-traders. Are you from there?
I have been trading for 5 years sir. How long have u been trading. I use a combination of different methods. I try to respect everyones opinion. New or old. Age has no bearing on education or knowledge. I scalp and do mid term trades so what is wrong with grabbing a fast 20 to 30 pips a day on top of an extra 100 to 200 pips with a mid term trade.
  • #50,946
  • Jan 24, 2008 11:40am Jan 24, 2008 11:40am
put my stop at 25 pips so I make a profit here no matter what.
  • #50,947
  • Jan 24, 2008 11:41am Jan 24, 2008 11:41am
Quoting dobbie11
I have been trading for 5 years sir. How long have u been trading. I use a combination of different methods. I try to respect everyones opinion. New or old. Age has no bearing on education or knowledge. I scalp and do mid term trades so what is wrong with grabbing a fast 20 to 30 pips a day on top of an extra 100 to 200 pips with a mid term trade.
nothing just that you should be satisfied with the 100-200 pips and not be greedy! and as a seasoned trader, you should know better, shouldn't you??
your actions speak louder than your words sir!
  • #50,948
  • Jan 24, 2008 11:45am Jan 24, 2008 11:45am
i must say scalping is really bad....i keep playing with my profits like again i find greed alway getting the better of me
  • #50,949
  • Jan 24, 2008 11:47am Jan 24, 2008 11:47am
Quoting AmeriTrini
nothing just that you should be satisfied with the 100-200 pips and not be greedy! and as a seasoned trader, you should know better, shouldn't you??
your actions speak louder than your words sir!
Why if I can make money why should I stop for. My mid term trades are 1/2 lots my short terms are 1 to 2 lots. I do this for a living. Not part time. And look at the market. what is it doing ? I am going to make a profit on this trade no matter what. So no risk involved now is there ?
  • #50,950
  • Jan 24, 2008 11:47am Jan 24, 2008 11:47am
Quoting dobbie11
I have been trading for 5 years sir. How long have u been trading. I use a combination of different methods. I try to respect everyones opinion. New or old. Age has no bearing on education or knowledge. I scalp and do mid term trades so what is wrong with grabbing a fast 20 to 30 pips a day on top of an extra 100 to 200 pips with a mid term trade.
I respect your opinion anyway. I have been trading for a long time. Stared when I was 14 now I am 35 and I work as an analyst. IMHO gambling, casino style, has nothing to do with trading. The odds are on our side if the psychology and other factors are right. But this is my opinion. Let us leave this there.
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  • #50,951
  • Jan 24, 2008 11:51am Jan 24, 2008 11:51am
Quoting bullrock
I respect your opinion anyway. I have been trading for a long time. Stared when I was 14 now I am 35 and I work as an analyst. IMHO gambling, casino style, has nothing to do with trading. The odds are on our side if the psychology and other factors are right. But this is my opinion. Let us leave this there.
Thank you Bullrock and I respect that, because no one really knows. We can just go with what we have learned and what we see.
  • #50,952
  • Jan 24, 2008 11:56am Jan 24, 2008 11:56am
just got one thing for you guys

i have seen natural indicator in normal metatrader chart

try to go with H4 - most perfect coming out this natural indicator

which is Positive candle which is Black and Nagative means white candle

once postive candle completed in 3 to 4 rows after that one white candle coming out which is nagative candle that is the reverser zone 90% place

check in your chart and see hows all things looks like white and black candles

Thats it - its really help me for next time from now!
  • #50,953
  • Jan 24, 2008 1:09pm Jan 24, 2008 1:09pm
if u ask me its more risky to place a trade and just leave it..the trend can reverse at every major support/resistance....surely its a bigger gamble? since retracements can more than 50 pips +
  • #50,954
  • Jan 24, 2008 1:12pm Jan 24, 2008 1:12pm
Quoting nAVIN2007
if u ask me its more risky to place a trade and just leave it..the trend can reverse at every major support/resistance....surely its a bigger gamble? since retracements can more than 50 pips +
It's still a scalping market for me. not going to go for the pie-in-the-sky longterm play. I'll take 30 pips here and there and that works for me. Anything else is a bonus, but i do not get paid by the hour when trading.
  • #50,955
  • Jan 24, 2008 1:26pm Jan 24, 2008 1:26pm
just opinion ... cable still downtrend in daily chart
  • #50,956
  • Jan 24, 2008 1:43pm Jan 24, 2008 1:43pm
Quoting deboooo2005
just opinion ... cable still downtrend in daily chart
definetely....hence why im short right now...i notice whatever the london and US market achieve the asian market seem to wanna undo.....lol

so now i do the reverse
  • #50,957
  • Jan 24, 2008 1:49pm Jan 24, 2008 1:49pm
Quoting nAVIN2007
definetely....hence why im short right now...i notice whatever the london and US market achieve the asian market seem to wanna undo.....lol

so now i do the reverse
deboooo2005 said the daily chart. The daily chart is not that easy to be broken. Who knows though that the previous bottom is the REAL bottom for the daily channel?
  • #50,958
  • Jan 24, 2008 2:00pm Jan 24, 2008 2:00pm
Quoting AmeriTrini
ah so the weekly bullish has not formed as yet, but look at the previous bars, they are bearish, but get smaller as time passes, it makes it only obvious to follow that pattern of the weekly getting smaller and smaller until the first bullish bar forms. which will be in two days from now......

end of two days is almost here and we have a weekly bullish formation already!
  • #50,959
  • Jan 24, 2008 2:10pm Jan 24, 2008 2:10pm
Problem with following short term trends is that the fundamentals ALWAYS assert themselves (I learned that watching 'wall street')
I like to ride longer waves ...

The only reason it's not gambling is if you know that you will win or are likely to...

look at the 2 year chart for cable - leaving a position on for all that time was a certainty - trading every few hours was not

the banks took long positions because they could afford to.
We took short term trades because we couldn't afford to lose and were forced out of them often at the stop loss - then it bounced back - sound familiar ?

The remedy is to downsize the % of your account used for margin and play a longer game - its the only time i make really good money. the interim losses don't phase me and most times it swings back....


and it means that you HAVE to take a view on economic fundamentals and herd behaviours that take longer than a few days to complete their cycle

translate that as 'patience' if you like

its not the 'big quick easy money' we would all like but it's softly softly catchee monkey...

I knew the UK property market was intercoursed last March and bought my usd just over 2.0... nobody else looked at that fundamental or cared and so it went to 2.12 and then they were shocked when cable collapsed

Now I know that the US is in the mire but usd is seeing strength... I am long and have been for 2 days and am going to ride it back up...

watch the fundamentals bud fox
  • #50,960
  • Jan 24, 2008 2:20pm Jan 24, 2008 2:20pm
Quoting allserene
Now I know that the US is in the mire but usd is seeing strength... I am long and have been for 2 days and am going to ride it back up...

watch the fundamentals bud fox
um, what strength is the usd seeing, as you wrote above?
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