Cable Update (GBPUSD) | Page 5291 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #105,801
  • Dec 10, 2008 3:00pm Dec 10, 2008 3:00pm
Quoting eohater
I will definately give props to Mr. Steelhead. He has the higher timeframe down on trading. It's almost identical to how I used to trade.

Like I said before, I made some great money trading higher time frames.

WUT UP EO!!!?!
glad to hear you're having a great time on vaca.
I been out but on family business.

As for TF's...i trade a 5 min TF. and you guys are right there is a lot of noise there, but for me i see it as better opportunity to manage money. I don't have the comfort zone to trade and leave it open for days on end. I like getting in and out. On avg i can crank about 250-500 pip a week with out much hassle. I wait for good opps and jump in. I have made trades that were open for hours at a time that were good for 100-200 pips on a trade, but genrally my sys requires only 20-30 per trade. maybe two-three trades a day.

I think the real key is two things...trade what's comfortable for your style, but more importantly, being patient and "waiting for the trade to come to you".

I think it goes without saying that if you're forcing a trade or trading with that feeling "i gotta make a trade" then you are setting yourself up for disaster.
  • #105,802
  • Dec 10, 2008 3:33pm Dec 10, 2008 3:33pm
I am getting tired of people disrespecting us 5m TF traders.

It is beyond me how you can make an intelligent trading decision by watching 1 or 2 candles form all day long!

Think you do more watching then trading.

Here is how I picked up +200 pips since the open of the NY session reading candle patterns and reacting quickly on the 5m chart.

  • #105,803
  • Dec 10, 2008 3:34pm Dec 10, 2008 3:34pm
Quoting Shilva
I am getting tired of people disrespecting us 5m TF traders.

It is beyond me how you can make an intelligent trading decision by watching 1 or 2 candles form all day long!

Think you do more watching then trading.

Here is how I picked up +200 pips since the open of the NY session reading candle patterns and reacting quickly on the 5m chart.

Here is the chart!
Attached Image (click to enlarge)
Click to Enlarge Name: dec 10-08.JPG Size: 172 KB
  • #105,804
  • Dec 10, 2008 3:37pm Dec 10, 2008 3:37pm
Quoting Shilva
Here is the chart!
USD Est Non Mortuus
  • #105,805
  • Dec 10, 2008 3:39pm Dec 10, 2008 3:39pm
Quoting Shilva
I am getting tired of people disrespecting us 5m TF traders.

It is beyond me how you can make an intelligent trading decision by watching 1 or 2 candles form all day long!

Think you do more watching then trading.

Here is how I picked up +200 pips since the open of the NY session reading candle patterns and reacting quickly on the 5m chart.


Bro like we have said to each his own. Its beyond me how you can make heads or tails of a 5 minute chart with all those indicators. but you can so great.

Just remember though in your comments inone breathe you are angry with folk who question your style. then in the next breathe you question theirs.

And yes I do more analysis than trading. I sit in my tree read a book and just wait. Thats the point patience patience patience
  • #105,806
  • Dec 10, 2008 3:43pm Dec 10, 2008 3:43pm
Quoting steelhead
Bro like we have said to each his own. Its beyond me how you can make heads or tails of a 5 minute chart with all those indicators. but you can so great.

Just remember though in your comments inone breathe you are angry with folk who question your style. then in the next breathe you question theirs.
I get that from you man hehe
  • #105,807
  • Dec 10, 2008 3:46pm Dec 10, 2008 3:46pm
Quoting Shilva
I get that from you man hehe

Fair enough
  • #105,808
  • Dec 10, 2008 3:54pm Dec 10, 2008 3:54pm
Bailout - are these people idiots ? If they arent profitable by march we want our money back ? WHAT MONEY ! They are going to pay 3 million people to sit around doing nothing all winter and getting paid - then the govt are going to ask for the money back in March ?

Its like buying a car for my son by lending him the money, and saying if he misses a payment he has to pay me it all back immediately

get real !

The American people would be idiots to fall for this stuff - they arent actually - 80% of them say NO

Doesnt stop the corrupt politicians who all get 6 cars (Mercs) for free for their families plus the % kick back

What a rip off - anyone want to buy a senator's seat ?

Lets torture all these politicians before its banned - not for information - just for fun !
  • #105,809
  • Dec 10, 2008 3:55pm Dec 10, 2008 3:55pm
Quoting Shilva
Here is the chart!
nice chart...good stuff bro..
  • #105,810
  • Dec 10, 2008 3:56pm Dec 10, 2008 3:56pm
Quoting steelhead
Bro like we have said to each his own. Its beyond me how you can make heads or tails of a 5 minute chart with all those indicators. but you can so great.

Just remember though in your comments inone breathe you are angry with folk who question your style. then in the next breathe you question theirs.

And yes I do more analysis than trading. I sit in my tree read a book and just wait. Thats the point patience patience patience
well said. As far as I'm aware no one was disrespecting anyone else's trading style, we all just said that it is important to find your own style.

I know that if I traded 5 min tf I would lose a whole lot of money very quickly, and probably overtrade in a hurry- but that's just me.

If it works for you shilva, then brilliant.

One thing that I do believe about small daily movements is that they are by nature unpredictable. Not always, but you can spend a lot of time following many complicated indicators and they may all point one direction and then it will move in another.

At the end of the day, a swing or spike could be caused by a large institution placing a heavy order- and unless you have inside information there is no way of predicting that.

I use no indicators. Just basic support/resistance and a couple of EMA's and SMA's- that is it.

In my opinion MACD only ever tells you what you already know- and it's basically just there to remind you to buy low and sell high.

But once more I emphasize, these are all just the notions that I trade by, and are unique to me.
  • #105,811
  • Dec 10, 2008 3:58pm Dec 10, 2008 3:58pm
Quoting allserene
Bailout - are these people idiots ? If they arent profitable by march we want our money back ? WHAT MONEY ! They are going to pay 3 million people to sit around doing nothing all winter and getting paid - then the govt are going to ask for the money back in March ?

Its like buying a car for my son by lending him the money, and saying if he misses a payment he has to pay me it all back immediately

get real !

The American people would be idiots to fall for this stuff - they arent actually - 80% of them say NO

Doesnt stop the corrupt politicians...

just goes to show us the world has turned into a fruitcake, the world most volatile market is like watching paint dry..very sad
  • #105,812
  • Dec 10, 2008 3:58pm Dec 10, 2008 3:58pm
Quoting eohater
Greetings everyone!

I'm still on vacation, just stopping in for a minute while I check my email, messages, price, profit and setups.

I would like to say, there are many different ways to trade. One needs to trade per their personality, lifestyle and goals. I use to trade only the 4h/1h charts and was very, very successful doing such. I was holding more swing and position trades. Now, I'm pretty much an intraday trader and my pippage has more than doubled since making the change. The key to any system is for it to fit your lifestyle. Since I'm...
Patience + Discipline - Greed = Success
  • #105,813
  • Dec 10, 2008 4:33pm Dec 10, 2008 4:33pm
Hi guyz!
Been reading your forum for some time now. Learning a lot from u guyz. I am a new trader which make some profits but lost a lot too. Used to trade in the 1m chart which I know that is not the correct way. Now been watching the 5m chart and 1h chart.

Still, not sure where to start. Kind enough for anyone to guide me the first move...?
  • #105,814
  • Dec 10, 2008 4:36pm Dec 10, 2008 4:36pm
Quoting steelhead
My G/u analysis

Buy low sell high.


There is one other area not at the lows that i might consider a long though.


Until then no cable trades having to much fun making pips with other currencies today
Why are you showing a chart of the swissy?
Hi, my name is Barry and you can keep your doctor...
  • #105,815
  • Dec 10, 2008 4:48pm Dec 10, 2008 4:48pm
Quoting Zikry
Hi guyz!
Been reading your forum for some time now. Learning a lot from u guyz. I am a new trader which make some profits but lost a lot too. Used to trade in the 1m chart which I know that is not the correct way. Now been watching the 5m chart and 1h chart.

Still, not sure where to start. Kind enough for anyone to guide me the first move...?
Welcome Zikry, I dont know how far along you are with your trading but I would recommend reading www.babypips.com as a start
  • #105,816
  • Dec 10, 2008 5:08pm Dec 10, 2008 5:08pm
Quoting Zikry
Hi guyz!
Been reading your forum for some time now. Learning a lot from u guyz. I am a new trader which make some profits but lost a lot too. Used to trade in the 1m chart which I know that is not the correct way. Now been watching the 5m chart and 1h chart.

Still, not sure where to start. Kind enough for anyone to guide me the first move...?
ok this is how it works ---

the rules change constantly so no system lasts more than x minutes or x hours

There are choppy times and smooth direction times

Putting a bet on in choppy times will lose money if you dont nip in and out

Always use a stop loss in case someone kidnaps the Obama kids

it could happen

its all about suitable stop losses sizes and they vary daily with conditions

We are supposed to be swing or direction traders so identifying the direction or lack of it is the first job

I use daily, hourly and 15 min charts and then 1 minute just before i buy - I swap between em constantly to give me a sense of proportion

Thats what i do

Its the opposite of most things in life and you should give up easily and not hope for the best - get out if it is going wrong

Thats my philosophy anyway
  • #105,817
  • Dec 10, 2008 5:12pm Dec 10, 2008 5:12pm
Quoting PipLand
Welcome Zikry, I dont know how far along you are with your trading but I would recommend reading www.babypips.com as a start
Thanks.
  • #105,818
  • Dec 10, 2008 5:14pm Dec 10, 2008 5:14pm
Quoting Shilva
Here is the chart!
Insane trading style bro!!! Like your style !!!

Do you enter the trade and then put SLs?
  • #105,819
  • Dec 10, 2008 5:18pm Dec 10, 2008 5:18pm
I had not been in the forum all day to read the posts and when i finally found time to check them out the first one i read was somebody saying again that the lower time frames were just noise.

Having had a good day trading on the 5m it sort of triggered my reaction.

Now that i have caught up i realize there was that very discussion already going on and now I feel I may have possibly over reacted about that disrespect thing.......My Bad.

It is good we all have our own styles and can not be replaced by some automated trading system somewhere. The human element is what makes every trading system work.

  • #105,820
  • Dec 10, 2008 5:23pm Dec 10, 2008 5:23pm
Quoting allserene
ok this is how it works ---

the rules change constantly so no system lasts more than x minutes or x hours

There are choppy times and smooth direction times

Putting a bet on in choppy times will lose money if you dont nip in and out

...
That was what my husband did.. hope for the best where he should stop at that time. Now he starts having faith in me coz I made profits constantly after learning a lot here. TQ
BTW, do u think it will reach 1.4600 today?
915 traders viewing now