Cable Update (GBPUSD)

Quoting nAVIN2007

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it depends bro ...im still trying to work out whether trading is randomness based on mass pyschology or dont it adhere to a kinda pin point accuracy.
because of the random approach i got scared about the long and ditched it, it seems to me the market moves to where it supposed to go with pin point accuracy and if this is the case then its encouraging price was supposed to go up...its the other appraoch that finished me off

interested to know what u guys things about this?

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Quoting Turveyd

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The Market is not Random, but it does to the untrained eye appear to be random, but the problem is the longer the time frame your trying to trade ( your terminology not mine ), then the more odds of random events going against you.

it seems to me the market moves to where it supposed to go

That sounds abit religion like to me, ie CRAP, the market merely does what supply and demand from the pyscology of 1Mil+ trades cause it to do.

If trading was easy everyone would do it, sadly you've been suckered into the game with the correct way to trade which is guaranteed to take your money, forget Candle formation and everything else, it will take you along time to unlearn this!!!



Until you can get to the stage where you look at the chart and think, hmmm people are mainly buying today and just go Long your stuffed Thats how simple this game is, anything more complicated and forget it!!

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Quoting Doose

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Well the news had to be really bad in to penetrate the bottom. . And the pair has been respecting the LTD since the 22nd of April and continually bounces off of it. This week was no different.In my opinion.

My original trade plan after seeing 1.9368 was buy. At that point in time I said its only 10 pips away from my downtrend line and it should find support around there. The plan was to put stop 10 pip below the LTD which was @ 1.9348. Like u said the GPB was really too low. But I got got scared and did rubbish and lost money.

Now we at point where it could continue or retrace to that LTD. Which wud carry it really below 1.9340. Not do I see it rallying higher than 1.9680 shud it rally during next week.

I wud love to here some one with experience comment what next.

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Quoting BANDA

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Hi All,
I also loose most of the time. What I concluded is when you have multiple inputs , you find difficult to stick to your methods. Today there was a fellow trader posted, that most banks were shorting EU big time around 10EST , I shorted EU/$ at height and GBP/$ and lost almost everything I had. I have learnt a lot from the thread and get used to the thread , suddenly do things , which cost all you have . Navin don't give up man, Hope and pray you will be making pips and all of you. Will there be light at the end of the tunnel? I have blown my account 3 times, my wife will not allow me to trade anymore I guess. Hope you all have nice weekend.

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Quoting allserene

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Tayk the steak muni and bi a dickshunary bro

Seriously, this really is the watershed and I am holding back until it decides to trot off towards 2.04 or 1.82

At the moment it is all just false starts (forls statts)

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Quoting allserene

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Tayk the steak muni and bi a dickshunary bro

Seriously, this really is the watershed and I am holding back until it decides to trot off towards 2.04 or 1.82

At the moment it is all just false starts (forls statts)

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Quoting nAVIN2007

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yes i should have in the end of got fustrated with myself and actually went short, mad with myself and paid the price....if i stuck to my trade orginally id have lost less regardless..this has been the worst week ever trading

totally upset and feel like i could just give up right now ...lost £300 by being 100% stupid

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Quoting BANDA

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Thank you Navin. I think we need to stick to 4H and 1H charts to make conclusions. I always loose on shorter time frame, I feel sometimes I am the most stupid man, as my friends all tell they are doing well in Fx . I study and do new things always loose lol. I think I need to improve cognitive skills lol and improve my reasoning .......lol

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Quoting Carrera

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Just study the charts and stick with the plan. I'm still holding my long from 1.9456 and moving my SL up when need to be moved. Now is showtime!
#65745 #65752

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Quoting nAVIN2007

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because u think this way u aint using big time frames ....u do realise that if u did u would have caught this wave up, weekly and monthly, especailly monthly should this move and the one that bought on the bottom, could have themselves rich of this trade cause i reckon it one which can be held quite some time...

price been to this bottom 3 times and been rejected...uptrend if u ask me will start unless UK really is in sh*t

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Quoting BANDA

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Navin
- Thank you very much for the charts. They are so good.I think you guys in U.K are the best Fx Traders.

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Quoting Carrera

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Just study the charts and stick with the plan. I'm still holding my long from 1.9456 and moving my SL up when need to be moved. Now is showtime!
#65745 #65752

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Quoting BANDA

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Carrera- Thank you for the charts buddy they are so good. gracias !

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Quoting Turveyd

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Easy with highnsight, real time there is NO WAY on earth you'd of spotted that up move before the event, which coulda went the other way and yes you got it you coulda spotted that move in your chart to.

Higher TF's show the same picture as lower TF's just with MUCH less detail, its the detail which gives the game away.

Although you'll notice my up day today was correct and my target posted the day before was hit LOL Doing it all on a M1 chart to, amazing

Its not the TF you use anyway as thats irrelevant its the longer your in a trade the higher the odds of randomness / trend changing.

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