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Cable Update (GBPUSD)

  • #87,541
  • Sep 12, 2008 4:38am Sep 12, 2008 4:38am
No FX, I am just trying to help people, I didnt mean it that way, it's just the point that I try to get across all the time. There are so many new people coming in all the time, and thats fine. But, when every Tom, Dick and Harry is telling everyone where to go and its more confusing than helpfull. It's why I dont come around anymore. If I had my way, there would have to be a learning curve before you can enter certain threads, but as we all know, it doesn't work that way. I can't help but think that more people are getting hurt by this than are being helped. A graduatory system would be nice, kinda like school. But this Crap of vouching for someone to become a senior member just dont cut it.

Jim

Quoting fx local
u want some kind of medal!! blue peter badge for u buddy!! only joking!
  • #87,542
  • Sep 12, 2008 4:40am Sep 12, 2008 4:40am
I Rest my case......

Quoting l6pp
short at 7710. it will go down hard!
  • #87,543
  • Sep 12, 2008 4:41am Sep 12, 2008 4:41am
haha
Lets do this...
  • #87,544
  • Sep 12, 2008 4:42am Sep 12, 2008 4:42am
Quoting hard1head1
I Rest my case......
..this forum is why mental stregth is needed..
  • #87,545
  • Sep 12, 2008 4:43am Sep 12, 2008 4:43am
I agree with you hardhead... unless someone can bring reason to a position and back it up.... it doesn't mean much. But I def. can see that ppl simply saying 3 words can completly distract your plan and your setup for a trade. Dont get me wrong I haven't been doing this long but I can easily see your point
Lets do this...
  • #87,546
  • Sep 12, 2008 4:43am Sep 12, 2008 4:43am
now I need some boost of confidence for the EUR to go down now pleease haha
Lets do this...
  • #87,547
  • Sep 12, 2008 4:44am Sep 12, 2008 4:44am
Hey Guys, Another thing I have figured out. If you have never traded E/J you really need to give it a try. Its a trending pair and Its the only pair you really need to trade and can easily give you over 1000 pips a week easily. And it doesn't give a lot of these long wicks I have been seeing on G/U lately. Just for G.P.

Jim
  • #87,548
  • Sep 12, 2008 4:48am Sep 12, 2008 4:48am
There is another Forum, I believe it's in FX Fisherman that if you get a lot of new people spouting off and making unfounded comments, they will toss you out on your butt.
  • #87,549
  • Sep 12, 2008 4:54am Sep 12, 2008 4:54am
You need to tell me why you think this pair is going down hard when I see it in a nice wave pattern to the long side. It has just moved above the 1 Hr 89 which tells me a long trend of the moment and may go higher.. Yes, it may retrace a bit but trend is up.


Quoting l6pp
short at 7710. it will go down hard!
  • #87,550
  • Sep 12, 2008 4:54am Sep 12, 2008 4:54am
re discussion above, persoanlly i lurk here for some of the time with the occassional post that i hope will be of use. I have never made a call, never expressed which way I think it will go, and similarly have never made a late call when price is already in my favour (!) I tend to post analysis that might help people to make up their own minds.

I come here to help pass the boring interludes between my set-ups and take everything with a pinch of salt, ...actually it never ceases to amuse/entertain/bewilder me how much agonsing goes on about which direction price will move , and how sure people are, even resulting in them falling out over it.

The truth plainly and simply, and it's been said many times before but you'll never become a trader until you understand it/accept it: You don't have to know where price will go next,...just trade your set-up (s) what happens next is out of our control, the pattern/sequence of which of our set-ups will win/lose is irrelevant, as long as over any given net sample they produce a gain. Therefore, it is totally irrelevant where price will go next, and we shouldn't agonise over something we cannot influence.
ex member
  • #87,551
  • Sep 12, 2008 4:59am Sep 12, 2008 4:59am
Quoting bbmac
re discussion above, persoanlly i lurk here for some of the time with the occassional post that i hope will be of use. I have never made a call, never expressed which way I think it will go, and similarly have never made a late call when price is already in my favour (!) I tend to post analysis that might help people to make up their own minds.

I come here to help pass the boring interludes between my set-ups and take everything with a pinch of salt, ...actually it never ceases to amuse/entertain/bewilder me how much agonsing goes on about which direction price will move , and how sure people are, even resulting in them falling out over it.

The truth plainly and simply, and it's been said many times before but you'll never become a trader until you understand it/accept it: You don't have to know where price will go next,...just trade your set-up (s) what happens next is out of our control, the pattern/sequence of which of our set-ups will win/lose is irrelevant, as long as over any given net sample they produce a gain. Therefore, it is totally irrelevant where price will go next, and we shouldn't agonise over something we cannot influence.
well said i need to take heed of that...its very true
  • #87,552
  • Sep 12, 2008 5:00am Sep 12, 2008 5:00am
ok sry! next time i am just quite!
  • #87,553
  • Sep 12, 2008 5:02am Sep 12, 2008 5:02am
Quoting bbmac
re discussion above, persoanlly i lurk here for some of the time with the occassional post that i hope will be of use. I have never made a call, never expressed which way I think it will go, and similarly have never made a late call when price is already in my favour (!) I tend to post analysis that might help people to make up their own minds.

I come here to help pass the boring interludes between my set-ups and take everything with a pinch of salt, ...actually it never ceases to amuse/entertain/bewilder me how much agonsing goes on about which direction price will move , and how sure people are, even resulting in them falling out over it.

The truth plainly and simply, and it's been said many times before but you'll never become a trader until you understand it/accept it: You don't have to know where price will go next,...just trade your set-up (s) what happens next is out of our control, the pattern/sequence of which of our set-ups will win/lose is irrelevant, as long as over any given net sample they produce a gain. Therefore, it is totally irrelevant where price will go next, and we shouldn't agonise over something we cannot influence.

good stuff
Trading is 80% Emotional, 20% Technical
  • #87,554
  • Sep 12, 2008 5:04am Sep 12, 2008 5:04am
Quoting l6pp
ok sry! next time i am just quite!

Don't be quiet, ...Back your call/view up with analysis / reasons why you think this pairing will go down hard....this will be more useful than stating a view/call without.
ex member
  • #87,555
  • Sep 12, 2008 5:08am Sep 12, 2008 5:08am
Quoting hard1head1
No FX, I am just trying to help people, I didnt mean it that way, it's just the point that I try to get across all the time. There are so many new people coming in all the time, and thats fine. But, when every Tom, Dick and Harry is telling everyone where to go and its more confusing than helpfull. It's why I dont come around anymore. If I had my way, there would have to be a learning curve before you can enter certain threads, but as we all know, it doesn't work that way. I can't help but think that more people are getting hurt by this than are being helped. A graduatory system would be nice, kinda like school. But this Crap of vouching for someone to become a senior member just dont cut it.

Jim
ok i agree with u to an extent, key iguess then is to make indepedent trading decisions irrespective of any call or view on thread, at end of day we can only control our actions whilst trading, let people learn from their own mistakes, guess why only very few traders are actually profitable.
Trading is 80% Emotional, 20% Technical
  • #87,556
  • Sep 12, 2008 5:15am Sep 12, 2008 5:15am
on this forum
I usually receive the feedback and it helps me very much,
knowing that I will plase info about the trade here presses me to think
it over
I have noticed that people with less experience are more impatient in discussion and on the contrary more exp. members are more peaceful and explaining. I think it is quite obvieus, also trading looks to be the same.
Any way that forum would be useless if everybody had one opinion.
Thank You All !

( now I still suffer from my short)
Jesus Christ is my only Lord !
  • #87,557
  • Sep 12, 2008 5:29am Sep 12, 2008 5:29am
ok, just gone long again @ 17710, stp 17679. I actually made a mistake as I execute my trades on my phone, I quickly pressed the button and sold instead, then had to get out and reverse, but no damage done.
ok, I trade macd's and moving averages mostly. The 20SMA is a good guide line on the direction of the market. I combine this with a normal 12,26,9 MACD and another one with higher parameters to measure the longer term direction.
Also, I include a short EMA (10) and a longer EMA (20).
Its not just one thing I look at but a combination of these, whilst also looking at breakout levels and possible trendlines. I do not use fibonacci, etc, I have tested many indicators and tools over the years and they don't work for me personally. Finally, I look at the strength in direction of as many time frames as I can. So with the time its taken to write this message after my trade, the g/u has turned bearish on the 1min, 5min charts, but still looks bullish still on higher timeframes.
sorry I cannot post charts, but i'm not too good with computers but will do so if I learn how to do it.
PIPPED TO THE LINE
  • #87,558
  • Sep 12, 2008 5:30am Sep 12, 2008 5:30am
we seem to have bounced on the 50% fibo..will it make a higher high now..
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  • #87,559
  • Sep 12, 2008 5:30am Sep 12, 2008 5:30am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting bbmac
re discussion above, persoanlly i lurk here for some of the time with the occassional post that i hope will be of use. I have never made a call, never expressed which way I think it will go, and similarly have never made a late call when price is already in my favour (!) I tend to post analysis that might help people to make up their own minds.

I come here to help pass the boring interludes between my set-ups and take everything with a pinch of salt, ...actually it never ceases to amuse/entertain/bewilder me how much agonsing goes on about which direction price will move , and how sure people are, even resulting in them falling out over it.

The truth plainly and simply, and it's been said many times before but you'll never become a trader until you understand it/accept it: You don't have to know where price will go next,...just trade your set-up (s) what happens next is out of our control, the pattern/sequence of which of our set-ups will win/lose is irrelevant, as long as over any given net sample they produce a gain. Therefore, it is totally irrelevant where price will go next, and we shouldn't agonise over something we cannot influence.
I've been re-reading Mark Douglas' Trading In the Zone this week - and what you just said sounds like it came right from Mark himself. lol! Thanks for posting that.

Anyway I've just entered a trade according to my set-up so we'll see how it plays out (no need to make the call I'm sure you guys can figure it out...lol).
"Wishful thinking dies hard." Igor T.
  • #87,560
  • Sep 12, 2008 5:33am Sep 12, 2008 5:33am
I remember a time in this forum, can't remember the exact thread, where they were complaining about all the charts and didn't wan't people to post them. Thats idiotic. The way you learn in these types of thread is by visual aids. It's the only way. So, that said, let me add. If you see something in your charts, don't be afraid to post them, no matter how crazy they may seem. Someone else can analyze and tell you your mistakes. Or you can show something that maybe someone has missed. Does anyone here know what a pivot bar is, one of the best continuation confirmations there is, screw the MACD indicator, there was one on 8/18 that was worth over 1000 pips, but I run into people all the time that have never heard of them, how about a Hammer, shooting star these can all be shown thru charting. I am a school teacher and I know how people learn and the same goes for here. We can teach these people if they would sit back and just listen.

So, post your charts and we will help you learn and everyone will be happy. Thats all I am saying.

Jim

Quoting fx local
ok i agree with u to an extent, key iguess then is to make indepedent trading decisions irrespective of any call or view on thread, at end of day we can only control our actions whilst trading, let people learn from their own mistakes, guess why only very few traders are actually profitable.
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