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Daily Cable Analysis

  • #1,521
  • Jan 12, 2007 6:32am Jan 12, 2007 6:32am
Quoting cesarnc
How come?
psychologically, I'm not trading against anyone or with anyone, it is very calming. Also, we should see a nice defined longer term breakout at some point soon.
Man who scratches ass should not bite fingernails
  • #1,522
  • Jan 12, 2007 6:37am Jan 12, 2007 6:37am
Quoting Leugimp
psychologically, I'm not trading against anyone or with anyone, it is very calming. Also, we should see a nice defined longer term breakout at some point soon.
Likely... I'd like to see the news causing a spike up, just to ease our job here, in this waiting for 95XX...

But it seems there's no volume enough for either a big down or up... Even if down, we have 9460s and 944s to hold....

It all about waiting now...
  • #1,523
  • Jan 12, 2007 6:44am Jan 12, 2007 6:44am
I think this 50% fibo quite a critical resistance. If it breaks cable may go up to it's previous high. The daily studies give a strong rally signal. Just a thought..
  • #1,524
  • Jan 12, 2007 6:50am Jan 12, 2007 6:50am
Quoting c1ro
I think this 50% fibo quite a critical resistance. If it breaks cable may go up to it's previous high. The daily studies give a strong rally signal. Just a thought..
True... But doesn't 4hr seem exhausted from this continuous up move from yesterday 00:00 GMT....?
  • #1,525
  • Jan 12, 2007 7:00am Jan 12, 2007 7:00am
Quoting cesarnc
True... But doesn't 4hr seem exhausted from this continuous up move from yesterday 00:00 GMT....?
I think it still has more room to push to the upside. Look back when it was dropped from 531 until crashed down to 264. Did it seemed to be exhausted?
  • #1,526
  • Jan 12, 2007 7:04am Jan 12, 2007 7:04am
I think the news will bring it down....
trading on demo is not trading
  • #1,527
  • Jan 12, 2007 7:10am Jan 12, 2007 7:10am
Hiya all again.

Sometimes I really wonder what you guys are doing....

Serious questions....

1. Are you trading with real money?
2. If you are, do you have a system you know works and know how to trade? Do you feel you can spot setups, entries, determine a sound S/L and find a good exit/target for it?

Because reading a LOT of the posts there seems to be a majority of uncertainty and confusion and it just pains me to see that it seems there's real money being burnt alongside with it.....

Comitting to half a dozen trades in a day or more (heck for someone starting I'd say more than 1-3) is serious overtrading....obviously I don't advise scalping as a trading basis unless that means 30 pips minimum targets. Keep in mind each trade entry also means donating spread.

Now I don't want to sound like a know it all godmode trader because I'm clearly not. I'm still a beginner (9 months of live trading now), but the only reason I'm not one of the blow-account-refuel-repeat people is that at one point I realized that shooting in more trades and money into the market will not help to move it in my favor, no matter how hard I try....

Emotional and random trading will get you nowhere. If you are in doubt - stay out. Never was there a more true saying.
If you have no basic system to grapple along, what are you doing with real money in the market?
And if you do, do you know your money at risk, risk/reward ratio etc?
In effect: do you KNOW what you are doing at any point in time? The reason you entered? The reason you exited? Etc.

This is not to put down anyone, this is me trying to raise a very large warning sign for a couple of people who seem to be too entangled in the go and flow of the market to be trading.
And I know it's pretty darn hard to distance yourself from it, especially if you hit a loss or even two in a row.

I'm just saying....it never hurts to take a good hard look at what you're doing and then contemplate whether you should change something here.
And trading psychology is usually the single biggest toggle between losing consistently and winning consistently.

Best wishes,

SeekingLight
Trust price. Know yourself.
  • #1,528
  • Jan 12, 2007 7:19am Jan 12, 2007 7:19am
Quoting SeekingLight
1. Are you trading with real money?
2. If you are, do you have a system you know works and know how to trade? Do you feel you can spot setups, entries, determine a sound S/L and find a good exit/target for it?

Because reading a LOT of the posts there seems to be a majority of uncertainty and confusion and it just pains me to see that it seems there's real money being burnt alongside with it.....
If you are referring to the famous "Long @ 9400"; "OPS! Now Short @ 9401" - I stopped taking them into consideration...

But that's me.
  • #1,529
  • Jan 12, 2007 7:23am Jan 12, 2007 7:23am
i just hedge the trade..1 min before news time i place pending buy/sell 10 to 15 pips from current price ... when the trade goes in a certain direction i close the orderthat was not hit




sometimes the news doesnt go the way everyone thinks
  • #1,530
  • Jan 12, 2007 7:24am Jan 12, 2007 7:24am
Quoting SeekingLight
Hiya all again.

Sometimes I really wonder what you guys are doing....

Serious questions....

1. Are you trading with real money?
2. If you are, do you have a system you know works and know how to trade? Do you feel you can spot setups, entries, determine a sound S/L and find a good exit/target for it?


SeekingLight
Well said!!! I always look forward to your posts.
  • #1,531
  • Jan 12, 2007 7:29am Jan 12, 2007 7:29am
ee
Quoting SeekingLight
Hiya all again.

Sometimes I really wonder what you guys are doing....

Serious questions....

1. Are you trading with real money?
2. If you are, do you have a system you know works and know how to trade? Do you feel you can spot setups, entries, determine a sound S/L and find a good exit/target for it?

Because reading a LOT of the posts there seems to be a majority of uncertainty and confusion and it just pains me to see that it seems there's real money being burnt alongside with it.....

Comitting to half a dozen trades in a day or more (heck for someone starting I'd say more than 1-3) is serious overtrading....obviously I don't advise scalping as a trading basis unless that means 30 pips minimum targets. Keep in mind each trade entry also means donating spread.

Now I don't want to sound like a know it all godmode trader because I'm clearly not. I'm still a beginner (9 months of live trading now), but the only reason I'm not one of the blow-account-refuel-repeat people is that at one point I realized that shooting in more trades and money into the market will not help to move it in my favor, no matter how hard I try....

Emotional and random trading will get you nowhere. If you are in doubt - stay out. Never was there a more true saying.
If you have no basic system to grapple along, what are you doing with real money in the market?
And if you do, do you know your money at risk, risk/reward ratio etc?
In effect: do you KNOW what you are doing at any point in time? The reason you entered? The reason you exited? Etc.

This is not to put down anyone, this is me trying to raise a very large warning sign for a couple of people who seem to be too entangled in the go and flow of the market to be trading.
And I know it's pretty darn hard to distance yourself from it, especially if you hit a loss or even two in a row.

I'm just saying....it never hurts to take a good hard look at what you're doing and then contemplate whether you should change something here.
And trading psychology is usually the single biggest toggle between losing consistently and winning consistently.

Best wishes,

SeekingLight

Thanks for weighing in. I am only a lurker most of the time but.........your words were for me!
Regards,
Goofy
  • #1,532
  • Jan 12, 2007 7:32am Jan 12, 2007 7:32am
Supports working nice on the news...
  • #1,533
  • Jan 12, 2007 7:34am Jan 12, 2007 7:34am
This is some crazy news....!
trading on demo is not trading
  • #1,534
  • Jan 12, 2007 7:38am Jan 12, 2007 7:38am
Quoting enzo2325
This is some crazy news....!
Pretty USD positive, weren't them? Not that big deal a move... People at the news trading forum expecting 100+ pips from this news... We've had ZERO pips average move.
  • #1,535
  • Jan 12, 2007 7:42am Jan 12, 2007 7:42am
Quoting cesarnc
Pretty USD positive, weren't them? Not that big deal a move... People at the news trading forum expecting 100+ pips from this news... We've had ZERO pips average move.
hah yes , but now USD be powerful , and if it break 1.9460 GBP will fall more
  • #1,536
  • Jan 12, 2007 7:43am Jan 12, 2007 7:43am
Quoting cesarnc
Pretty USD positive, weren't them? Not that big deal a move... People at the news trading forum expecting 100+ pips from this news... We've had ZERO pips average move.
Perhaps that rate raise yesterday has set a stronger overall tone for the pair than the retail sales number today. Just a thought.
My office is everywhere
  • #1,537
  • Jan 12, 2007 7:46am Jan 12, 2007 7:46am
Well im going back to bed im still short
trading on demo is not trading
  • #1,538
  • Jan 12, 2007 7:46am Jan 12, 2007 7:46am
Guess monarch overslept the news...

Good for him
  • #1,539
  • Jan 12, 2007 7:48am Jan 12, 2007 7:48am
[RETAIL SALES - REVISIONS ARE LOWER] The December sales readings were quite good, but undercut somewhat by downward revisions to both October and November sales estimates. November sales are now reported up 0.6% vs a prior 1.0%, October -0.2% vs -0.1%. Core sales (ex-auto, gasoline and building materials) were a big source of the downward revision.
My office is everywhere
  • #1,540
  • Jan 12, 2007 7:51am Jan 12, 2007 7:51am
Quoting pipmyway
[RETAIL SALES - REVISIONS ARE LOWER] The December sales readings were quite good, but undercut somewhat by downward revisions to both October and November sales estimates. November sales are now reported up 0.6% vs a prior 1.0%, October -0.2% vs -0.1%. Core sales (ex-auto, gasoline and building materials) were a big source of the downward revision.
oohhhh..... explains it all

volume to vanish now... We're cleared for take-off flight level 9550, please do not let us down here, over....

Calling it a week...
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