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Cable Update (GBPUSD)

  • #82,701
  • Aug 18, 2008 2:53am Aug 18, 2008 2:53am
[quote=Alastair;2170311]
Quoting fxbroker

Better to be hearing this!!!!!!!!!!!!!!
Well you can always hear what you want to hear as the thread does not belong to you. I give analysis based on the Word of God. Simple, and close your eyes to my trend if you hate to see my post.

Oh by the way, I have collected 46pips, waiting for more clearance, bearish outlook has been initiated for today.

Below 8677 is sell to projected target area. This is a 24hrs outlook until London opens again tomorrow. So we may see slow movements to target area. Or

Else buy above 8725, but I do not see how buy is possible today.
  • #82,702
  • Aug 18, 2008 2:54am Aug 18, 2008 2:54am
lol its been a very funny month for me so far, weird unlucky ridiculous things happened. I state some below:

1- played with 1% risk in 2 winning trades, then when i paid attention that the risk of the EA should be 2% as usual like other days, i switched it and got a maximum -75 pips loss haha.

2- set stop loss for my sell order at 75 pips away, then the price went right there triggered my stop loss +10 pips then headed down 350 pips lol

3- i got 2 consecutive -75 maximum losses hahaha. that only happens once every year lol

4- the connection went off at 11 pm last Friday and the EA failed to close the sell order at -2 pips before the weekend. guess what on Sunday? stop loss triggered at -75 again loooool

5- the nights when i stop trading with the USDGBP, i do the back test and get good results. then i get hyper and start the live trading again the next night only to get bad results loooooool looool

i really cant believe this shit month. i mean shit happens, but all shits at once??? hahahahaha impossible
When life gives you lemons, make lemonade
  • #82,703
  • Aug 18, 2008 2:58am Aug 18, 2008 2:58am
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When life gives you lemons, make lemonade
  • #82,704
  • Aug 18, 2008 2:59am Aug 18, 2008 2:59am
Micho. At least once, and sometimes twice each year, the GBP/USD pair moves relentlessly and often wipes out accounts, in the process. Counter trend/move traders are particularly vulnerable. It often occurs when markets are thin, such as August, Thanksgiving, or other unique circumstances.

There are some comments on GBP/USD pair here..

http://www.forexfactory.com/showthread.php?t=99088

Regards,
Houdini - CTA
You are what you do, trade with discipline. Chris Lori, CTA
  • #82,705
  • Aug 18, 2008 3:01am Aug 18, 2008 3:01am
Fxbroker, it would be helpful if you shared with everyone how you get these trade ideas? Don't say From God, thats already established, how and in what language do these communications are transmited to you?

[quote=fxbroker;2170327]
Quoting Alastair

Well you can always hear what you want to hear as the thread does not belong to you. I give analysis based on the Word of God. Simple, and close your eyes to my trend if you hate to see my post.

Oh by the way, I have collected 46pips, waiting for more clearance, bearish outlook has been initiated for today.

Below 8677 is sell to projected target area. This is a 24hrs outlook until London opens again tomorrow. So we may see slow movements to target area. Or

Else buy above 8725, but I do not see how buy is possible today.
  • #82,706
  • Aug 18, 2008 3:01am Aug 18, 2008 3:01am
Quoting micho

i really cant believe this shit month. i mean shit happens, but all shits at once???
Best to get it all out of the way in one go, hopefully that's it done now for another year.
This space intentionally left blank.
  • #82,707
  • Aug 18, 2008 3:02am Aug 18, 2008 3:02am
Quoting Houdini
Micho. At least once, and sometimes twice each year, the GBP/USD pair moves relentlessly and often wipes out accounts, in the process. Counter trend/move traders are particularly vulnerable. It often occurs when markets are thin, such as August, Thanksgiving, or other unique circumstances.

There are some comments on GBP/USD pair here..

http://www.forexfactory.com/showthread.php?t=99088

Regards,
Houdini - CTA
thanks man for these important notes

but you know August results of past years were as follows:

2003 +653
2004 +923
2005 +540
2006 +423
2007 +766
2008 lol
When life gives you lemons, make lemonade
  • #82,708
  • Aug 18, 2008 3:04am Aug 18, 2008 3:04am
Quoting Uphios
Best to get it all out of the way in one go, hopefully that's it done now for another year.
loooooool yeah hahahah
now i have to build my account back up again... my profits of last 2 months have been cut seriously
When life gives you lemons, make lemonade
  • #82,709
  • Aug 18, 2008 3:04am Aug 18, 2008 3:04am
I think Cable is a sell here at 1.8665 down to at least 1.8615 and maybe further.
  • #82,710
  • Aug 18, 2008 3:05am Aug 18, 2008 3:05am
Houdini nice article. hope i read it before this month began. actually first week of august was excellent... but second week wiped a big percentage of my profits over the past 2 months!!!!!!!
When life gives you lemons, make lemonade
  • #82,711
  • Aug 18, 2008 3:08am Aug 18, 2008 3:08am
Quoting alearner
better now while your account is relatively small.
yeah but alot of shits happened this month i mean read my first post a while ago... not only the weird behavior of cable but also my bad luck
When life gives you lemons, make lemonade
  • #82,712
  • Aug 18, 2008 3:08am Aug 18, 2008 3:08am
You got it! The stats speak! I trade more within ranges and fractals, so the illiquid moves don't suit my intraday method. I just stand aside. Even momentum traders have difficulty in this months type environment. The fundamental traders will have made gains on GBP/USD this month - Here is a link to the thread i sent out earlier this month - I'm very bearish GBP against the crosses. Rate spreads moving in their disfavor, along with a plethora of other economic challenges, as mentioned in this thread... http://www.forexfactory.com/showthread.php?t=99088

Regards,
You are what you do, trade with discipline. Chris Lori, CTA
  • #82,713
  • Aug 18, 2008 3:12am Aug 18, 2008 3:12am
Thanx Micho.
Closed both for a small loss.
never doing that again!
Keep It Simple Stupid
  • #82,714
  • Aug 18, 2008 3:12am Aug 18, 2008 3:12am
Well looks like it might be a slow one today. Little/No news so I will be checking back periodically to see how the market acts at the bottom of the last two weeks move.
Don't Get Bitter, Get Better
  • #82,715
  • Aug 18, 2008 3:13am Aug 18, 2008 3:13am
Quoting Alastair
Thanx Micho.
Closed both for a small loss.
never doing that again!
When life gives you lemons, make lemonade
  • #82,716
  • Aug 18, 2008 3:14am Aug 18, 2008 3:14am
Quoting Alastair
Thanx Micho.
Closed both for a small loss.
never doing that again!
by the way, the last time i made hedge for my position... it was around 50 pips before the margin call and guess what happened, the account blew up hahaha that was 3 years ago
When life gives you lemons, make lemonade
  • #82,717
  • Aug 18, 2008 3:19am Aug 18, 2008 3:19am
Quoting micho
by the way, the last time i made hedge for my position... it was around 50 pips before the margin call and guess what happened, the account blew up hahaha that was 3 years ago
I honestly dont know why i did that.
It was the first and the last time!
Keep It Simple Stupid
  • #82,718
  • Aug 18, 2008 3:20am Aug 18, 2008 3:20am
[quote=shiva;2170340]Fxbroker, it would be helpful if you shared with everyone how you get these trade ideas? Don't say From God, thats already established, how and in what language do these communications are transmited to you?

Sorry to interrupt u guys. I support Shiva. Fxbroker, never mind the offenses. We are all ears willing to learn new things. Some of us are not logged in but we are reading every bit. As long as it will improve our lives pls share
  • #82,719
  • Aug 18, 2008 3:26am Aug 18, 2008 3:26am
Quoting Alastair
I honestly dont know why i did that.
It was the first and the last time!
cause forex has psychological effects as well...

i am getting better each day and not reacting psychologically like before. in fact you know that the psychological losses monthly are around 30% so its better not feel what you trade. i lost around 6k in 10 days because of bad luck but im full of confidence that ill climb back up very soon... hope that everybody cuts his losses this month to a minimum
When life gives you lemons, make lemonade
  • #82,720
  • Aug 18, 2008 3:30am Aug 18, 2008 3:30am
Can i see by a show of hands who is short?
Keep It Simple Stupid
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