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Daily Cable Analysis

  • #3,101
  • Jan 22, 2007 6:52pm Jan 22, 2007 6:52pm
Quoting kharvell
Risk/reward is pretty darn important, too..

Looks to be an up day tomorrow (at least for me; long term). I've been long since 1.9643, and expect it to continue based on pivots and RSI.

Good luck
How right you are.

I have experienced both, Risk and Reward, I prefer the latter.

This is very important in every trade we place.
  • #3,102
  • Edited 7:05pm Jan 22, 2007 7:00pm | Edited 7:05pm
Quoting enzo2325
I was bored and came up with all the lows...lol
Quoting enzo2325

16th low 9589
17th low 9608
18th low 9634
21st low 9694
22nd low 9715 so far

it just keeps on rising
if anyone knows if we can do anything with these #'s let me know will ya.
Based upon the average from your Low ranges, the new low will be 1.9747 for this week.

I am amazed, this is the exact mark before we made the downward turn to 1.9260.

A full circle, could it be we have completely finished the cycle of retracements, and now have a green light to move forward.

With the continual bump up on the lows, the deciding factor would be the next low being lower then the low we have now, or a higher low than we previouly had.

Nevertheless, we have reached a new High at 1.9785 twice today, this could be the number we will see during the Frankfurt and London open times, along with the 1.9747 at the bottom level.

Interesting as the day goes by - don't fall asleep like Cesarnc is right now waiting. LOL
  • #3,103
  • Edited Feb 2, 2007 5:49pm Jan 22, 2007 7:13pm | Edited Feb 2, 2007 5:49pm
If I was trading on a Long Term Strategy, I would be watching this candle right here this month.

So far, it has pushed downwards, and now it shows signs of more upward movement.
  • #3,104
  • Jan 22, 2007 7:13pm Jan 22, 2007 7:13pm
My guess is that most of the people on this thread are technical traders. Although I am curious if you guys think that it is Iran that is driving the sterling higher. There has just been some significant news released regarding their nuke program today.
  • #3,105
  • Edited Feb 2, 2007 5:49pm Jan 22, 2007 7:18pm | Edited Feb 2, 2007 5:49pm
If your a Pin Bar expert, we may be watching for a Double Top here at 1.9840-46 mark.

This would reveal the direction for February and beyond.
  • #3,106
  • Jan 22, 2007 7:18pm Jan 22, 2007 7:18pm
I have a low @1.9714 high !.9787 looks like a triangle
  • #3,107
  • Jan 22, 2007 7:25pm Jan 22, 2007 7:25pm
Quoting tico fx
My guess is that most of the people on this thread are technical traders. Although I am curious if you guys think that it is Iran that is driving the sterling higher. There has just been some significant news released regarding their nuke program today.

No, in my opinion Iran is not affecting Sterling. The pound is benefiting from the unexpected rate differential as well as projected future differentials.
  • #3,108
  • Jan 22, 2007 9:02pm Jan 22, 2007 9:02pm
Quoting monarch


I agree, not every thing is 100%, but I said if I profit 3 out of 5 = 60%, I am still making more profits than I am losing.

That would be a worst case scenario, you should be doing better than that.

The secret is makingg the right trade, and placing the same lot size upon every trade you make.

I am only making 1 trade per day, I am not going to waste it on someone's idea, or comment of where they think its going to go.

I am trading on a "proven strategy" that I have worked back and forth for a long time.

100%, I don't think I can hit 100%, but I have been 100% wrong before.

This is only averages we are talking about, it is the same if your trading $1.00 or $500.00 per lot.

The most important average is your win-loss ratio!
Nice one...that's what I have been doing.. The only difference is, I learnt that after reading book on winning blackjack...
I am just here to talk nonsense =D
  • #3,109
  • Jan 22, 2007 9:08pm Jan 22, 2007 9:08pm
Quoting monarch


The most important average is your win-loss ratio!

This statment is false by itself. You can have more losers then winners and be very profitable.
  • #3,110
  • Jan 22, 2007 9:40pm Jan 22, 2007 9:40pm
Quoting Zarul Shahrin
Nice one...that's what I have been doing.. The only difference is, I learnt that after reading book on winning blackjack...
I could probably scalped 10 pips in the time it took to type in your name.

Hopefully your not trading the Forex like you play a game of blackjack!

  • #3,111
  • Jan 22, 2007 9:42pm Jan 22, 2007 9:42pm
Quoting mbqb11
This statment is false by itself. You can have more losers then winners and be very profitable.
Than false I am.

How is your trading going?
  • #3,112
  • Jan 22, 2007 9:47pm Jan 22, 2007 9:47pm
  •  tesla
  • Joined Oct 2006 | Status: Friendly Neighborhood Programmer | 533 Posts
Quoting monarch
Than false I am.

How is your trading going?
I have to agree with mbqb11 on this one. Many prominent traders have done famously well with a crappy win/loss ration. The Turtles are a textbook example.
  • #3,113
  • Jan 22, 2007 9:54pm Jan 22, 2007 9:54pm
I'm pretty new to this thread, but hopefully those that wish to pound their chest can open their own thread. Technically I'm hoping for a dip here pretty soon for a fresh new buying opportunity. We'll see.
  • #3,114
  • Jan 22, 2007 9:54pm Jan 22, 2007 9:54pm
Quoting monarch
Than false I am.

How is your trading going?
my trading is fine thanks.

I wasn't trying to attack you, but that statment is very misleading and a small piece of the puzzle. If you are shooting for 14 pips per trade then I take it your win/loss ratio is EXTREAMLY important. Often my best weeks are when i am only winning 2/5 trades. I take more longer term trades. So I might have 3 small losers and then 1 winner that more then compensates for the losers.

trade 1 = -30
trade 2 = -3
trade 3 = -20
trade 4 = +350

This is all i meant.

Take care,
Mike

ah just saw ur post tesla, this is how i look at my trading. I really enjoyed reading their techniques and thinking.
  • #3,115
  • Jan 22, 2007 9:55pm Jan 22, 2007 9:55pm
Quoting tesla
I have to agree with mbqb11 on this one. Many prominent traders have done famously well with a crappy win/loss ration. The Turtles are a textbook example.
Okay, prominent traders may have success.

But what about the 90% average traders, wait, what about the below average traders that are usually found lurking in Forums trying to learn how to trade, what about them?

Can you profit from a lousy position in a $500.00 mini account?

I found most traders who are not "prominent" having more success in losing that in winning.

Any one here in this thread make a million so far in Forex?
  • #3,116
  • Jan 22, 2007 9:59pm Jan 22, 2007 9:59pm
Hi Monach

Where do you see the major resistance point being this week?
Mono
  • #3,117
  • Jan 22, 2007 10:18pm Jan 22, 2007 10:18pm
If I have made a million or make millions in the forex I would not be wasting my time in this thread. I would be too busy trading and spending money. Hopefully one day I will have that problem:
trading on demo is not trading
  • #3,118
  • Jan 22, 2007 10:28pm Jan 22, 2007 10:28pm
Quoting monarch
I could probably scalped 10 pips in the time it took to type in your name.

Hopefully your not trading the Forex like you play a game of blackjack!

LOL! Yet, there is still a typo there . Well, Of course I don't trade like playing blackjack or I would stop trading the market and join the 95% losers, though I actually did gamble in my early forex days...
I am just here to talk nonsense =D
  • #3,119
  • Jan 22, 2007 10:30pm Jan 22, 2007 10:30pm
If I made a million dollars with what I have learned from here on forex I would through a big bbq on a saturday and invite everyone from here.

I would also post who's system I used and offer them a job trading for me with a 50/50 split!
  • #3,120
  • Jan 22, 2007 10:35pm Jan 22, 2007 10:35pm
Quoting mono
Hi Monach

Where do you see the major resistance point being this week?
1.9819-22 area.
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