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Cable Update (GBPUSD)

  • #57,821
  • Mar 11, 2008 8:13am Mar 11, 2008 8:13am
Quoting fxbroker
I am not a good economic analyst but it seems central banks are pumping money into the market.....just news from CNBC
Yes they are a bunch of pumpers - but as they say - 'you can't buck the market'

that just gives us a lower platform to enter when the central banks stop pumping and realise they cant hold the line and it's too strong - a certain mr g soros knows that
  • #57,822
  • Mar 11, 2008 8:13am Mar 11, 2008 8:13am
Quoting T 1 Ti
thanx navin
i've allready learn abuawad chart for 2 days
and it very good to learn
thanks, try to learn haw to do better than me
  • #57,823
  • Mar 11, 2008 8:14am Mar 11, 2008 8:14am
Quoting allserene
Dunno ! I am buying shares in goldman sachs as they are off 28% this year and are the only guaranteed survivor among the financials - they were up 6% in the first hour today (now 4%) but still big losses last few days..

The US is in for a real soaking - I have seen a lot of recessions as I am 435 years old and this one is still to get going as we dont have big unemployment YET - until we get a big wave of unemployment then it isnt a serious recession in my book - but Florida is losing jobs fast and it is accelerating now. I am buying here and there but another 10% off even good shares can still happen very easily - that will mess the USD up big style

I think the US will win the race to the bottom but how low it is I have no idea
seriously i enjoy the way u analyze as i could never be able to think in all those dimensions.

maybe its because im only 3 months old but its ok.
i have one more question though about US rate cuts, i mean it doesn't seem to help.
wat do u think?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,824
  • Mar 11, 2008 8:15am Mar 11, 2008 8:15am
Quoting nAVIN2007
emotion depend on your thought process....trading is probability to some extent...if u base yur trades where u manage yur risks...high % successfull entery ie behind pivot or major stress points...the probability should lie in your favor....I going to go live next week ...and am just trying to iron out some of money management issues i have because this is what will let me down if anything...its amazing what u learn just from typing and answering questions...
Based on what have you learnt and your high moral, my advise
Do not trade more than 3% of your equity. That is the only way those holding long positions are able to survive - low % risk stay in market
and more wins instead being stopped out each time.

Look at what has been happening in since the beginning of the year
maximum return on long position is around 700pips:
But you can make more as intra-day trader only if you well
capitalised with small risk - not mini under 3k my friend

If you start with 1k you can only trade 10%, so imagine losing 20pips of that each time you are stopped out. Or you put 100pips stop loss and you are kicked out as well. My friend emotion comes in.
Even when we lose we feel bad not because about the money but because about our wrong opinion about the market - no one like failures.
  • #57,825
  • Mar 11, 2008 8:17am Mar 11, 2008 8:17am
Quoting nAVIN2007
everything u need to know is all in the charts....study price action and base everything on this...whatever happen fundamentally is reflected in price if u can do this...then yur mechanical in your approach and u will just make good trading decisions.
I am on a demo but i know for a fact that trading live wont change anything about what i do...because my method is mechanical...
Thanks navin. What chart u use to predict the resistance and support level ?
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #57,826
  • Mar 11, 2008 8:18am Mar 11, 2008 8:18am
Quoting Abuawad
From 2.0110 to 2.0191 with 81 pip
adding +39 pip from 2.0070 to 2.0031 and we have a chance to 1.9973 and 11.9939 the 76.4 fibo
  • #57,827
  • Mar 11, 2008 8:20am Mar 11, 2008 8:20am
check the chart, thanks karmostaji
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  • #57,828
  • Mar 11, 2008 8:22am Mar 11, 2008 8:22am
Quoting manize
Thanks navin. What chart u use to predict the resistance and support level ?
i do trendlines and support on all the charts ..all time frames
  • #57,829
  • Mar 11, 2008 8:25am Mar 11, 2008 8:25am
Quoting nAVIN2007
i do trendlines and support on all the charts ..all time frames
That’s haw professionals work
  • #57,830
  • Mar 11, 2008 8:28am Mar 11, 2008 8:28am
Quoting fxbroker
Based on what have you learnt and your high moral, my advise
Do not trade more than 3% of your equity. That is the only way those holding long positions are able to survive - low % risk stay in market
and more wins instead being stopped out each time.

Look at what has been happening in since the beginning of the year
maximum return on long position is around 700pips:
But you can make more as intra-day trader only if you well
capitalised with small risk - not mini under 3k my friend

If you start with 1k you can only trade 10%, so imagine losing 20pips of that each time you are stopped out. Or you put 100pips stop loss and you are kicked out as well. My friend emotion comes in.
Even when we lose we feel bad not because about the money but because about our wrong opinion about the market - no one like failures.
yes yur right! .....emotion is a part of live but u can contol it if channel it in the right way....(not saying i can ...lol) and yes i will start a account with 3K ....and trade with small lot sizes just to see if i can still make successfull decision (pressure can change everything)....the biger yur account the more likely u are to make money....i will never risk more than 2% on any trade...I just in order to ensure that i can stick to this 2% i need to work on entery position...where the price doesnt go against me on entery by more than 20 pips tops..till i achieve this im reluctant to go live...
  • #57,831
  • Mar 11, 2008 8:32am Mar 11, 2008 8:32am
Quoting nAVIN2007
i do trendlines and support on all the charts ..all time frames
I see. Till now my short demo got 40 pips, but I'll test how it goes to make more pips with more stop loss.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #57,832
  • Mar 11, 2008 8:50am Mar 11, 2008 8:50am
Quoting salah k.
seriously i enjoy the way u analyze as i could never be able to think in all those dimensions.

maybe its because im only 3 months old but its ok.
i have one more question though about US rate cuts, i mean it doesn't seem to help.
wat do u think?
US rate cuts are meant to cause people to look at their money market acounts and say 'what 2.5% !' and then go look for a better investment or spend it - I am doing both

It works of course - I am off to buy a motorbike as there is no loss of bank interest really and at 435 years old I dont care if I fall off

Thing is though that the banks are not lending to each other at the peanuts rate they give me and the credit system is running scared. I have a $500 dollar limit on my GM credit card when I had £20k limit in the UK on the GM card there.

I have seen slumpflation in the 70's when I was 405 years old so I know what it looks like - not nice

and it's not a 'V' shaped recession either. Even Jim Cramer has come clean and says dont buy shares - that gay right wing charlatan that comes on cnbc after him was saying 1000 points on the DOW 2 weeks ago and he should be tied to a tree and tazered for 24 hours for misleading people with his 'capitalism cant fail message'.

so interest rate cuts ? nope it wont work this time - just too much fear about
and we will get inflation without increased spending
  • #57,833
  • Mar 11, 2008 9:00am Mar 11, 2008 9:00am
Quoting allserene
US rate cuts are meant to cause people to look at their money market acounts and say 'what 2.5% !' and then go look for a better investment or spend it - I am doing both

It works of course - I am off to buy a motorbike as there is no loss of bank interest really and at 435 years old I dont care if I fall off

Thing is though that the banks are not lending to each other at the peanuts rate they give me and the credit system is running scared. I have a $500 dollar limit on my GM credit card when I had £20k limit in the UK on the GM card there.

I have seen slumpflation in the 70's when I was 405 years old so I know what it looks like - not nice

and it's not a 'V' shaped recession either. Even Jim Cramer has come clean and says dont buy shares - that gay right wing charlatan that comes on cnbc after him was saying 1000 points on the DOW 2 weeks ago and he should be tied to a tree and tazered for 24 hours for misleading people with his 'capitalism cant fail message'.

so interest rate cuts ? nope it wont work this time - just too much fear about
and we will get inflation without increased spending
thnx for clearing that up.
about cramer do u remember wen he was telling people to buy stocks right be4 the clash .
im thinking he should be banned because he is an idiot but i guess he brings ratings because everybody needs a good laugh.
people switch from the comedy channel to watch mad money.

thnx but seriously though how old are u?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,834
  • Mar 11, 2008 9:00am Mar 11, 2008 9:00am
As usual I am on a tight day time frame and this is my tea break .
Well my triangle did not work to well ,lol
I am keeping to my plan to the end of today ,I am looking for a close near 2.1 if it closes there that would be a great additional buy.
Or maybe thats to easy.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,835
  • Mar 11, 2008 9:02am Mar 11, 2008 9:02am
I got the feeling we are heading down..i know u hate this diverence thing tony but i see on the minute chart ..i wonder if it will pan out..
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  • #57,836
  • Mar 11, 2008 9:08am Mar 11, 2008 9:08am
i agree i think we will c 9900 area again today.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,837
  • Mar 11, 2008 9:24am Mar 11, 2008 9:24am
this is nuts we didnt even get a reversal sign...
  • #57,838
  • Mar 11, 2008 9:29am Mar 11, 2008 9:29am
The reversal is divergence on the 1 hour chart
Tom(uk)
  • #57,839
  • Mar 11, 2008 9:35am Mar 11, 2008 9:35am
Quoting booktimes
The reversal is divergence on the 1 hour chart
Tom(uk)
can u show me the diverence on 1hr chart cause i dont see it?
  • #57,840
  • Mar 11, 2008 9:57am Mar 11, 2008 9:57am
Quoting nAVIN2007
this is nuts we didnt even get a reversal sign...
There is no reversal, this is a buy from a dip situation. Now we will be set to go past the 2.0250 zone and will will probably bounce off the 61.8% fib.

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