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Cable Update (GBPUSD)

  • #97,861
  • Nov 13, 2008 3:54am Nov 13, 2008 3:54am
Quoting micho
he meant the Fibonacci retracement and trend action...

the dealers dont do that, its just the accumulation of the orders over time creates this action

I think its not the dealers, I think it's a big big MF that controls these markets. Slaughter machine for 98% of the participants.
  • #97,862
  • Nov 13, 2008 4:03am Nov 13, 2008 4:03am
Quoting vorschlag
I think its not the dealers, I think it's a big big MF that controls these markets. Slaughter machine for 98% of the participants.
??????????????????????????????????????????????????????
  • #97,863
  • Nov 13, 2008 4:11am Nov 13, 2008 4:11am
Quoting gammase1
??????????????????????????????????????????????????????
"????" -- this means "who", or "wtf"? If you ask who is this MF, he is group of proffesionals who is apposed to everybody else.
  • #97,864
  • Nov 13, 2008 4:19am Nov 13, 2008 4:19am
Quoting vorschlag
"????" -- this means "who", or "wtf"? If you ask who is this MF, he is group of proffesionals who is apposed to everybody else.
A polite way of saying "wtf".

When I, like many retail traders, lose money it is my own fault. I do not blame the "big boys", "stop-hunters" or "slaughter machines". It's a complete fallacy that there's some sort of conspiracy out there to stop retail traders from winning. If you had worked in financial markets for one of these big boys you would know this not to be true. These sorts of phrases are merely making excuses for one's shortcomings, blaming others when we should be looking at where we went wrong in our strategy.
  • #97,865
  • Nov 13, 2008 4:30am Nov 13, 2008 4:30am
Quoting vorschlag
I think its not the dealers, I think it's a big big MF that controls these markets. Slaughter machine for 98% of the participants.
lol
When life gives you lemons, make lemonade
  • #97,866
  • Nov 13, 2008 4:31am Nov 13, 2008 4:31am
Quoting gammase1
A polite way of saying "wtf".

When I, like many retail traders, lose money it is my own fault. I do not blame the "big boys", "stop-hunters" or "slaughter machines". It's a complete fallacy that there's some sort of conspiracy out there to stop retail traders from winning. If you had worked in financial markets for one of these big boys you would know this not to be true. These sorts of phrases are merely making excuses for one's shortcomings, blaming others when we should be looking at where we went wrong in our strategy.
Thank you for your piece of information. I'll take a note of it.
  • #97,867
  • Nov 13, 2008 4:32am Nov 13, 2008 4:32am
my understandings are the big boys can make a difference and make traders lose money when they break key resistance levels against the normal trends...
which makes the price rebounds in the opposite way
When life gives you lemons, make lemonade
  • #97,868
  • Nov 13, 2008 4:39am Nov 13, 2008 4:39am
i could explain most of the price action in the market after it happens... like which target and which resistance even for every since candle on all time frames but you will not know for sure which way its gonna go and which trend is it following before the action.. thats why there is this risk........
When life gives you lemons, make lemonade
  • #97,869
  • Nov 13, 2008 4:42am Nov 13, 2008 4:42am
Quoting micho
i could explain most of the price action in the market after it happens... like which target and which resistance even for every since candle on all time frames but you will not know for sure which way its gonna go and which trend is it following before the action.. thats why there is this risk........
Agreed
  • #97,870
  • Nov 13, 2008 4:45am Nov 13, 2008 4:45am
Quoting gammase1
Agreed
if only i could predict the market action for 60 minutes, just like a 100% prediction
i would be the richest man in the world
When life gives you lemons, make lemonade
  • #97,871
  • Nov 13, 2008 4:47am Nov 13, 2008 4:47am
another problem is... the action is too fast... for instance i tried to place a sell order at 87... then i got requoted "do you want to sell at 75?" i tried several times and got requoted and requoted until we reached 60's
i said fuck i am not gonna enter anymore...

this is really frustrating and making me angry... i am very unhappy with my broker lately...

sometimes i get requoted 30 times in a row!!!
When life gives you lemons, make lemonade
  • #97,872
  • Nov 13, 2008 4:48am Nov 13, 2008 4:48am
Quoting micho
my understandings are the big boys can make a difference and make traders lose money when they break key resistance levels against the normal trends...
which makes the price rebounds in the opposite way
you are right, and vorschlag is right to a certain degree. The movements in the market are a direct consuquence of the actions of the 'big boys'.
But they aren't doing it to lose us money, they are just trading. There isn't a trader sitting at a desk, pinpointing our stoplosses and pressing the buy button- taking them all out with a demonic laugh!

My outlook hasn't changed one bit, still looking for more short action, and warning those who are tempted by longs.
My compounded shorts from 1.65 are still open and are going a long way to boost my car fund- any suggestions?
  • #97,873
  • Nov 13, 2008 4:49am Nov 13, 2008 4:49am
Micho,

Have you thought about using an ECN broker??

I dont know which broker your using but they sound like a market maker
  • #97,874
  • Nov 13, 2008 4:53am Nov 13, 2008 4:53am
Quoting PipLand
Micho,

Have you thought about using an ECN broker??

I dont know which broker your using but they sound like a market maker
yes i thought but could you please tell me about my options!!
my account is small now and im making regular withdrawals, what are my options??
When life gives you lemons, make lemonade
  • #97,875
  • Nov 13, 2008 4:54am Nov 13, 2008 4:54am
Quoting spintrader
you are right, and vorschlag is right to a certain degree. The movements in the market are a direct consuquence of the actions of the 'big boys'.
But they aren't doing it to lose us money, they are just trading. There isn't a trader sitting at a desk, pinpointing our stoplosses and pressing the buy button- taking them all out with a demonic laugh!

My outlook hasn't changed one bit, still looking for more short action, and warning those who are tempted by longs.
My compounded shorts from 1.65 are still open and are going a long way to boost my...
well, the big boys trade i am with you on that one but also they monitor the volumes and the orders... when they see a certain volume on the long side they go against it to make them lose money or get stopped because its a balance, when they lose you win and when they win you lose

they try to break key levels in the opposite side of the retail volumes sometimes
When life gives you lemons, make lemonade
  • #97,876
  • Nov 13, 2008 4:55am Nov 13, 2008 4:55am
setting up nicely on the 5m upon a higher-high confirm.
  • #97,877
  • Nov 13, 2008 4:57am Nov 13, 2008 4:57am
If you only have a small account and trade lot sizes of 10,000 (mini lots) then the only ECN I can recommend is the one I use which is EFX ( MBtrading ).

I dont know of any ECN's trading micro lots though. I dotn know where abouts your based MB Trading are based in the US im in the UK. The only one I know in the UK that has been recommended to me is Hotspot. They do now trade mini lots too ( they only used to trade full lots) but if trading mini lots with them the commision is fairly high. $6 per turn even if turning a single mini lot.

Hope that helps
  • #97,878
  • Nov 13, 2008 4:58am Nov 13, 2008 4:58am
we should be going up again... im still aside until 1.5060 i hope
When life gives you lemons, make lemonade
  • #97,879
  • Nov 13, 2008 4:59am Nov 13, 2008 4:59am
Agree looks like a retrace is on the cards
  • #97,880
  • Nov 13, 2008 4:59am Nov 13, 2008 4:59am
Hi,

long again @14934
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