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Cable Update (GBPUSD)

  • #85,001
  • Aug 29, 2008 10:57am Aug 29, 2008 10:57am
and what happened to sorosjr.? I love that guy
  • #85,002
  • Aug 29, 2008 10:58am Aug 29, 2008 10:58am
Isnt it interesting that this keeps bouncing off the four hour candle close at 1.8186.

Maybe Someone does know what they are talking about.
  • #85,003
  • Aug 29, 2008 10:59am Aug 29, 2008 10:59am
If yes..
Jesus Christ is my only Lord !
  • #85,004
  • Aug 29, 2008 11:01am Aug 29, 2008 11:01am
I agree with you anak if this was any day but friday i would be looking to sell around 265-270 but no time for it to develop before close IMO
  • #85,005
  • Aug 29, 2008 11:02am Aug 29, 2008 11:02am
Quoting anakmelayufx
to me gu need to retrace first before continue south pole....
YES!!! The key word retrace! It could go as high as 1.827x before going back south. Not a change in the trend!
Just digging in the trenches like everyone else!
  • #85,006
  • Aug 29, 2008 11:03am Aug 29, 2008 11:03am
Quoting steelhead
Isnt it interesting that this keeps bouncing off the four hour candle close at 1.8186.

Maybe Someone does know what they are talking about.
You've call another good counter trend trade it appears!
Just digging in the trenches like everyone else!
  • #85,007
  • Aug 29, 2008 11:05am Aug 29, 2008 11:05am
you countertrend/scalpers have balls of steel lol i cant do it
  • #85,008
  • Aug 29, 2008 11:14am Aug 29, 2008 11:14am
Quoting steelhead
Let's review long positions and what was possible pips this week.


Sunday/Monday we got a close of four hour candle at 1.8413 it rose to 1.8590 Possible 173 pips

Tuesday: got close of four hour candle at 1.8345 with a rise to 1.8489 possible pips 144

Wed: close of four hour candle at 1.8314 closing near the lows of the sunday close of 1.8314 or so. Rose to 1.8400 possible 86 pips.

thursday: close of candle around 1.8250 with a rise to 1.8341 possible pips 91.

That is a possible 494 pips this from following simple rules for entering a trade. Most those trades had little or no drawdown.

4 trades this week meaning You wouldnt have to sit in front of your computer all day. Wait for the market to come to you and take the trade.

One thing to keep in mind is the time of day. I only trade the London and New York session mainly with few exceptions.

I really doubt that anyone can say there system yielded almost 500 pips on one currency. If you can say your system did I know it wasnt in four trades. Most likely 10-12 trades or more.You could have literally pounded the pound this week.
great! you called all the trades after they happen and you even managed to exit at the exact top in your long trades and took all 173 pips from that retracement. Of course if the trade turns out to be a loser, you would always have moved your stop loss at breakeven well in time and you can post it here after it happens. I look forward for your next trade call which you will post after you have already banked the pips and exited at the exact top. And I really liked your understanding about how big dogs trade. Like you said they are all taking long positions but for some mysterious reasons cable continue the downtrend as usual making regular lower lows and lower highs.
  • #85,009
  • Aug 29, 2008 11:16am Aug 29, 2008 11:16am
leahy Im not a scalper please dont call me that. that makes me sick. I look for trades of 100+ pips. I can't stand getting in and out of trades, and scalping. For some it may work but I hate it.


Less is more too me. Why scalp a market that moves 200-300 pips. To me that doesnt make sense.

Again those who do it more power to you.
  • #85,010
  • Aug 29, 2008 11:20am Aug 29, 2008 11:20am
Quoting good
great! you called all the trades after they happen and you even managed to exit at the exact top in your long trades and took all 173 pips from that retracement. Of course if the trade turns out to be a loser, you would always have moved your stop loss at breakeven well in time and you can post it here after it happens. I look forward for your next trade call which you will post after you have already banked the pips and exited at the exact top. And I really liked your understanding about how big dogs trade. Like you said they are all taking long positions but for some mysterious reasons cable continue the downtrend as usual making regular lower lows and lower highs.


Dude we have already been over this time and time again try reading the past posts. Just cause i said these trades could have netted 500 pips in four trades does not mean i got all of them. I never stated that I did. Even if you got half of the 500 that is a good week. So while I appreciate your comments you are so wrong.


Again read the posts man I have said many times I'm going long before the move up. Get your facts straight before you come in here and presume to know what I am doing.

I just don't get it
  • #85,011
  • Aug 29, 2008 11:28am Aug 29, 2008 11:28am
Quoting steelhead
What I would like to see happen is for it to break teh 8300 area. Here is the reason. If it does it will get most traders panicing to go short off the break of 8300. That is the perfect situation to take a long position and take there money. As we know most breakouts are false breakouts.

I guarantee you one thing. Everyone and the mouse will be wanting to trade to the short side if it breaks this level, and I will be smilin going the other way.

Good here is one of the many posts if you took the time to read past pages. Do you do that? Or just come in here and smear folks.
  • #85,012
  • Aug 29, 2008 11:32am Aug 29, 2008 11:32am
Quoting steelhead
Im long at 1.8250. Don't listen to em navin. They do exactly what the big boys want them to do. Perfect four hour candle close. If im wrong im wrong losses are a part of the game. stop loss at 1.8160. looking for at least 150 pips.

Labor day coming up. Oil should shoot up for the holiday weekend.
here is another one good. 12:09 est witch would be 9 minutes after the close of the four hour candle. Now did I know that the cable would go up at that point. Did I say I was long after the fact. the answer to that is no.

that trade went to 1.8341 before the down move and I made pips.

Please I beg you to tell me after this post that it was after the fact. I have more posts on longs I took that I can show you.
  • #85,013
  • Aug 29, 2008 11:40am Aug 29, 2008 11:40am
Quoting steelhead
Good here is one of the many posts if you took the time to read past pages. Do you do that? Or just come in here and smear folks.
I read every single one of your posts in last week. Going by the trades you posted and the targets and stop losses you set, you would have made at the most 50 pips. And that was in the first trade when you moved your stop loss at +50 pips(which by the way you posted well after the trade went in your favor). Just because the trade went in green for sometime does not mean you get to take those pips, you have to exit it right time, and if you are expecting hundreds of pips from a trade , how can you exit at 91 pips? For most of your trades you were expecting profits upto 250-700 pips. I admit you did time a few retracements nicely but what you were really trying to do was pick a bottom at which you failed.
  • #85,014
  • Aug 29, 2008 11:43am Aug 29, 2008 11:43am
Quoting good
I read every single one of your posts in last week. Going by the trades you posted and the targets and stop losses you set, you would have made at the most 50 pips. And that was in the first trade when you moved your stop loss at +50 pips(which by the way you posted well after the trade went in your favor). Just because the trade went in green for sometime does not mean you get to take those pips, you have to exit it right time, and if you are expecting hundreds of pips from a trade , how can you exit at 91 pips? For most of your trades you were expecting profits upto 250-700 pips. I admit you did time a few retracements nicely but what you were really trying to do was pick a bottom at which you failed.

Im glad to see someone else sees him for what he is........A FAKE!! Next thing you know people are giving him their hard earned money to trade for them!!!!!!
  • #85,015
  • Aug 29, 2008 11:47am Aug 29, 2008 11:47am
i know one thing all the progress i have made has been destroyed in this month ...must have been one of the easiest to play so long as u followed the trend...nobody should go against the trend and its a newbie mistake...

if u dont scalp and yur counter trend trading that even worse....anyways i need to start listening to myself instead of doing the opposite i shall start a journal once i move house and try dig myself out of this hole...

good weekend all
  • #85,016
  • Aug 29, 2008 11:49am Aug 29, 2008 11:49am
Quoting good
I read every single one of your posts in last week. Going by the trades you posted and the targets and stop losses you set, you would have made at the most 50 pips. And that was in the first trade when you moved your stop loss at +50 pips(which by the way you posted well after the trade went in your favor). Just because the trade went in green for sometime does not mean you get to take those pips, you have to exit it right time, and if you are expecting hundreds of pips from a trade , how can you exit at 91 pips? For most of your trades you were expecting profits upto 250-700 pips. I admit you did time a few retracements nicely but what you were really trying to do was pick a bottom at which you failed.
Man this is getting so old how to pick apart that response. there are so many ways to do it. Again read the posts good when I say I am looking at getting 100+ pips does not mean I will always get it.

That is where learning how to read a chart comes in. if you get up on a trade and after several hours it hits a brick wall well that tells you something. Moves of 700 pips don't happen most of the time overnight they take time.

So again if 91 pips is all the market is going to give you after several hours you take it. You still have a hard time listening I never said I got 91 pips from that trade. Your number of +50 pips max that i got this week on this one pair is totally wrong.

You don't listen very well do you? I didnt fail this week I made plenty of pips on this one currency. Nice try though Goodie anymore bs you want to send out there that I can debunk.

You seem to have a pension for reading something, and getting the message of the post totally wrong.

have you ever thought of becoming a politician? You would make a good one.
  • #85,017
  • Aug 29, 2008 11:52am Aug 29, 2008 11:52am
Quoting steelhead
Man this is getting so old how to pick apart that response. there are so many ways to do it. Again read the posts good when I say I am looking at getting 100+ pips does not mean I will always get it.
"Invest With The Insiders, Not The Masses" George Muzea
  • #85,018
  • Aug 29, 2008 11:54am Aug 29, 2008 11:54am
Quoting steelhead
Let's review long positions and what was possible pips this week.


Sunday/Monday we got a close of four hour candle at 1.8413 it rose to 1.8590 Possible 173 pips

Tuesday: got close of four hour candle at 1.8345 with a rise to 1.8489 possible pips 144

Wed: close of four hour candle at 1.8314 closing near the lows of the sunday close of 1.8314 or so. Rose to 1.8400 possible 86 pips.

thursday: close of candle around 1.8250 with a rise to 1.8341 possible pips 91.

That is a possible 494 pips this from following simple rules for entering a trade. Most those trades had little or no drawdown.

4 trades this week meaning You wouldnt have to sit in front of your computer all day. Wait for the market to come to you and take the trade.

One thing to keep in mind is the time of day. I only trade the London and New York session mainly with few exceptions.

I really doubt that anyone can say there system yielded almost 500 pips on one currency. If you can say your system did I know it wasnt in four trades. Most likely 10-12 trades or more.You could have literally pounded the pound this week.

Please point out to me in that post where i say i got all of the pips. In fact what it says is possible pips. How can it be more clear goodie.


Ameritrini i thought you were gone? Like I have said before you story is tiresome. I have posted live trades that i have entered. What have you brought to the table?
  • #85,019
  • Aug 29, 2008 11:58am Aug 29, 2008 11:58am
Quoting steelhead

have you ever thought of becoming a politician? You would make a good one.
lol...I'll try. Anyway, have a nice weekend.

  • #85,020
  • Aug 29, 2008 11:59am Aug 29, 2008 11:59am
Quoting steelhead

Ameritrini i thought you were gone? Like I have said before you story is tiresome. I have posted live trades that i have entered. What have you brought to the table?

Steelhead, I appreciate your posts but I also appreciate Jamie as a fantastic trader. He has brought quite a bit of essentials to the table when it comes to potential trade possibilities. He's been around for a while, and I've seen him post some good info and some great charts along with it.

Steelhead, I understand your points on the potential profit that could have been made from those retraces. I think they are good points IF one were to follow the right technicals in order to trade the signals.

Guys, let's not get a flame war going, and get back to talking about the market and understanding it. Our job is stressing enough at times without the bashing of each other. Good luck to every one of you in your trades.

Based on the technicals at the moment, I wouldn't touch the gbp/usd unless I were already in a position. The weeklies and dailies have been showing solid bearishness for some time now and nothing on the technicals is showing a letup for me.

Have a great weekend everyone.
I dream, therefore I become.
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