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Daily Cable Analysis

  • #2,841
  • Jan 19, 2007 8:31am Jan 19, 2007 8:31am
Quoting Pickensrulz
closed my short @ 19720.. I think my head would pop if I missed ANOTHER chance to exit with a small profit and it reverses..of course now comes the move down. lol.

I'll re enter on a break of the big fig.


PS Here's a little fact for everyone.
If a trader makes 20 pips a day. That annualizes to $52,000 per year. That is significantly higher than the average earnings for an adult male. http://www.forexfactory.com/images/icons/icon3.gif

Good Trades!
Yeah... there's a chance of a selloff during this 30 min before the news... The size & intensity of the news retracement (if there is one) may push us back up.

That's what market taught yesterday... I´m skipping the news and have no position open... I´m waiting for 5-min open above 9765 never looking back (LONG) or open below 9716 never looking back (SHORT) , but not news-driven....

I´m not scalping this ranging... Everytime I try I loose.
  • #2,842
  • Jan 19, 2007 8:31am Jan 19, 2007 8:31am
my software doesn't have that option, it charts live trades and shows direction, i figured i would come here and see if all of you had info i didn't and to try and see other trending info and when to get in /out or not. i guess i am a little frustrated, not much movement like last month short term, and the longer term trends have a aknack for turning on you real quick, then going back in that direction after hitting your stops!! it has been 20 years since i had to do homework, not used to it, maybe that is bothering me. sometimes i feel i am in a debate club and it gets real loud when there are differing interpretations of the data, and i feel if i do not choose, i lose. sometimes indecision is good, and other times you miss a good move on not understanding the logic. i do not mind hitting a lot of little moves, but i just don't want to be wrong big once. anyway, i will stay here and try an learn, ask a few stupid questions, but i need to work on my entry and exits strategy, which is what i am trying to establish from here and see what i am doing wrong. i know it takes some time, but it seems i am getting worse. i guess i just need to figure who thinks like me and i follow their logic and perfect mine. i do understand about the how the market can change in a second and i am sure it has to do with a very bad sense of direction right now, but my patience is wearing thin as i am sure most everyone elses is, i guess i just need to work on it somemore. maybe i can just do some scalping today and see what next wekk brings. thanks for all your help so far, i am sure i will be asking for more next week.
  • #2,843
  • Jan 19, 2007 8:38am Jan 19, 2007 8:38am
Quoting mtrmth
my software doesn't have that option, it charts live trades and shows direction, i figured i would come here and see if all of you had info i didn't and to try and see other trending info and when to get in /out or not. i guess i am a little frustrated, not much movement like last month short term, and the longer term trends have a aknack for turning on you real quick, then going back in that direction after hitting your stops!! it has been 20 years since i had to do homework, not used to it, maybe that is bothering me. sometimes i feel i am in a debate club and it gets real loud when there are differing interpretations of the data, and i feel if i do not choose, i lose. sometimes indecision is good, and other times you miss a good move on not understanding the logic. i do not mind hitting a lot of little moves, but i just don't want to be wrong big once. anyway, i will stay here and try an learn, ask a few stupid questions, but i need to work on my entry and exits strategy, which is what i am trying to establish from here and see what i am doing wrong. i know it takes some time, but it seems i am getting worse. i guess i just need to figure who thinks like me and i follow their logic and perfect mine. i do understand about the how the market can change in a second and i am sure it has to do with a very bad sense of direction right now, but my patience is wearing thin as i am sure most everyone elses is, i guess i just need to work on it somemore. maybe i can just do some scalping today and see what next wekk brings. thanks for all your help so far, i am sure i will be asking for more next week.

I have a suggestion and you can do with it what you like, of course. I would NOT trade cable if I were just learning the market to be quite frank. Cable is a volatile currency with a higher magnitude than other majors. (Basically, it is more painful to trade than euro or swissy) If I were new and having a bit of trouble I'd trade usd/chf but continue to follow pound/usd which will help you learn technicals and gain experience.

Good luck
  • #2,844
  • Jan 19, 2007 8:39am Jan 19, 2007 8:39am
Quoting mtrmth
my software doesn't have that option, it charts live trades and shows direction, i figured i would come here and see if all of you had info i didn't and to try and see other trending info and when to get in /out or not. i guess i am a little frustrated, not much movement like last month short term, and the longer term trends have a aknack for turning on you real quick, then going back in that direction after hitting your stops!! it has been 20 years since i had to do homework, not used to it, maybe that is bothering me. sometimes i feel i am in a debate club and it gets real loud when there are differing interpretations of the data, and i feel if i do not choose, i lose. sometimes indecision is good, and other times you miss a good move on not understanding the logic. i do not mind hitting a lot of little moves, but i just don't want to be wrong big once. anyway, i will stay here and try an learn, ask a few stupid questions, but i need to work on my entry and exits strategy, which is what i am trying to establish from here and see what i am doing wrong. i know it takes some time, but it seems i am getting worse. i guess i just need to figure who thinks like me and i follow their logic and perfect mine. i do understand about the how the market can change in a second and i am sure it has to do with a very bad sense of direction right now, but my patience is wearing thin as i am sure most everyone elses is, i guess i just need to work on it somemore. maybe i can just do some scalping today and see what next wekk brings. thanks for all your help so far, i am sure i will be asking for more next week.

hang in there, sometimes a couple of days can seem like a couple of months and we place too much importance on it. Think of it this way, forget the time it takes to learn and just enjoy the process, treat it as a fun game that you can play for hours on end. Don't think about the money, just think about the moves. If you are burnt or tired to the point that you cant think anymore, take a break, go out, relax - the game isn't going anywhere, you can always play another day. I was really bad at chess when i first started and sadly it took getting beat by the same moves over and over masked in different patterns before I started to figure them out. Same here. Don't get discouraged, if you stick with it, you'll get much better, just be honest with yourself and with your goals.
Man who scratches ass should not bite fingernails
  • #2,845
  • Jan 19, 2007 8:39am Jan 19, 2007 8:39am
There's no such thing as "stupid question" here mtrmth. The only thing I strongly ignore is calling for trades at ramdon. "Short at, Long at". When I stopped going along with these calls, I stopped loosing money...

I´m now a breakeven trader and that pisses me off big time... What I´m doing now is trying every trendline, fib, interpretation I can within my charts...

And I hang out here because there are some brillian minds here with the same objective - making money. If they're also leaning? I don't know. I know I am. And I´m very thankful for having this guys around here every day...

Join the club and start asking your stupid questions, ok?
  • #2,846
  • Jan 19, 2007 8:45am Jan 19, 2007 8:45am
here goes the really predictable 15 minutes leading to the news.
Man who scratches ass should not bite fingernails
  • #2,847
  • Jan 19, 2007 8:45am Jan 19, 2007 8:45am
15 min to get us out of this misery...

I AM SHORT @ 9740, TP DEVIL´S EYEBROWS, SL LIFE-TIME SAVINGS...

just kidding...
  • #2,848
  • Jan 19, 2007 8:47am Jan 19, 2007 8:47am
Quoting cesarnc
hey, wpbsyn,

funny how this 250EMA works in the 5min, no? Don't know why monarch use it, but it has some effect yes...
how does 250EMA works in 5-min tf? Can you let me know where I can refer how to use it? Thanks in advance cesar!
Be a sniper not a jumper
  • #2,849
  • Jan 19, 2007 8:49am Jan 19, 2007 8:49am
Quoting sierra
how does 250EMA works in 5-min tf? Can you let me know where I can refer how to use it? Thanks in advance cesar!
I don't know... Monarch came up with this idea this morning. But he's vanished now. Never thought to ask him, but wpbsyn asked about it and indeed it seems to work somehow here...

I´m still looking at its behavior...
  • #2,850
  • Jan 19, 2007 8:51am Jan 19, 2007 8:51am
there are rumours that consumer sentiment is 98 vs 92.5, but rumours are just that.
  • #2,851
  • Jan 19, 2007 8:53am Jan 19, 2007 8:53am
And no pre-news selloff...
  • #2,852
  • Jan 19, 2007 8:56am Jan 19, 2007 8:56am
I wouldn't bet on it, but I think this jammy is going down regardless of the news. Market is just looking for speculators to all jump in and provide some liquidity. Once we all get caught up in this short term down move, thats when this thing will blow to the upside, when most of us become doubters that is when this bull will run rampant.

Outside of the weekly charts, everything is set up for a massive breakdown. We have divergence from daily on down and some at key fib rsi levels and some at key range levels. 1600 tick bubble is not blown up but damn close.

Then again, all of these reasons just increase the values of their failures. And so I wait at the bottom of the cliff confident that I haven't missed the train.

Just an opinion
Man who scratches ass should not bite fingernails
  • #2,853
  • Jan 19, 2007 8:57am Jan 19, 2007 8:57am
The calm before the storm - unless of course nothing happens

I see what you mean mtr, I contradict often
Man who scratches ass should not bite fingernails
  • #2,854
  • Jan 19, 2007 8:59am Jan 19, 2007 8:59am
i"ve a sell lemit posetion @ 1.9743 Tp 1.9721
and another buy lemit @1.9719Tp 1.9741
If you count on hope in any trade ……. Get out of it
  • #2,855
  • Jan 19, 2007 9:01am Jan 19, 2007 9:01am
it is in fact 98
  • #2,856
  • Jan 19, 2007 9:03am Jan 19, 2007 9:03am
Thanks for passing on your info mate. I appreciate it.http://www.forexfactory.com/images/icons/icon12.gif
  • #2,857
  • Jan 19, 2007 9:03am Jan 19, 2007 9:03am
Consumer Sentiment (p) 98.0
  • #2,858
  • Jan 19, 2007 9:06am Jan 19, 2007 9:06am
did i say down no matter what? - who said it earlier, it will start moving when we get bored and go out to lunch and end our days.
Man who scratches ass should not bite fingernails
  • #2,859
  • Jan 19, 2007 9:06am Jan 19, 2007 9:06am
Univ Michigan Mid-Jan Sentiment 98.0; Dec 91.7
Univ Michigan Mid-Jan Current Index 112.5; Dec 108.1
Univ Michigan Mid-Jan Expectations 88.7; Dec 81.2
Univ Michigan 12-Mo Inflation Forecast +3.0%; Dec +2.9%
  • #2,860
  • Jan 19, 2007 9:07am Jan 19, 2007 9:07am
Another unbelievably USD-positive news with no immediate selloff....

9716 / 9722 buffering the area. We haven't even touched today's low....

Awesome.... Let´s watch
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