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Cable Update (GBPUSD)

  • #110,221
  • Jan 8, 2009 8:37am Jan 8, 2009 8:37am
Quoting gammase1
Anyone can come on here over a period of months and call "buy now", as eventually they have to be correct. You have been posting to go long for months. Everyone makes good call and bad ones(me more than many), that is part of the game, of course. However, the tone of your post totally ignores your previously held views.

Over the longer term, I think sterling will rally, once the policy rates of the Fed, ECB and BOE roughly converge at or close to zero. In the short-term, I'll trade off the charts, whilst observing price action.

It is like...
You've missed the point again. I have not been posting "go long" for months. What position you take on a day to day basis is up to you. What I have been saying - recently - is that the GBP is oversold. There is a time to be long, a time to be short. Now is not the time to be short. Think of me what you will, it doesn't matter, I make money from what I do.
Happy trading.
  • #110,222
  • Jan 8, 2009 8:40am Jan 8, 2009 8:40am
Quoting Bullfx
Oh, it means you go the reverse direction to the market and then have to cut loss?
But GU price is manipulated because rising while cutting rate and while EU and other pairs don't move.
Now I think GU is too overbought.

No it means hes understanding how the market really works bull. Buy low sell high. Sherm is learning how the market works and is doing really well.

What it means is he is usually doing the opposite of the herd and that is what he wants to do. Most folks follow the herd right of the cliff. I like it when im going against most in here lets me know my analysis is right.
  • #110,223
  • Jan 8, 2009 8:41am Jan 8, 2009 8:41am
Got badly burnt today....damned.
Now i short @ 1.5350.
  • #110,224
  • Jan 8, 2009 8:43am Jan 8, 2009 8:43am
ok its time to take her down
  • #110,225
  • Jan 8, 2009 8:43am Jan 8, 2009 8:43am
Quoting nAVIN2007
i think that only good advise if u know what yur doing..in generally i think adding to a position yur wrong about isnt good..but if it taken into account b4 hand, like u have obviously..then its good stuff

the difference is purely the mind set u have..realising that u could be wrong, makes all the difference...
Navin who says hes wrong about the position? I like his position and am short bias as well.
  • #110,226
  • Jan 8, 2009 8:46am Jan 8, 2009 8:46am
For me i dont care where it goes, as long i follow U.... Im out now for dinner time +8GMT. Bye.
GELORE
  • #110,227
  • Jan 8, 2009 8:49am Jan 8, 2009 8:49am
Took some more off my short at the m15 10ema rest at +2 still
Patience + Discipline - Greed = Success
  • #110,228
  • Jan 8, 2009 8:53am Jan 8, 2009 8:53am
Quoting uut
ok its time to take her down
  • #110,229
  • Jan 8, 2009 8:54am Jan 8, 2009 8:54am
I just want to say well done to mpurdy and sherm they are truly learning how the market works and have cought on very well.

Good job guys you are doing great.
  • #110,230
  • Jan 8, 2009 8:54am Jan 8, 2009 8:54am
I sincerely hope no-one went long at the the highs....
Patience + Discipline - Greed = Success
  • #110,231
  • Jan 8, 2009 8:54am Jan 8, 2009 8:54am
is that cable going down for good?
  • #110,232
  • Jan 8, 2009 8:55am Jan 8, 2009 8:55am
Quoting lexazver
its excellent for me.

i was too chicken to short at the high seeing i was already short around 5300... though it could go up some more... too many bulls today! but i am positive and looks like i will have a good day and you will have a better one.... great job pulling the trigger at the high :-)
  • #110,233
  • Edited 8:58am Jan 8, 2009 8:55am | Edited 8:58am
ahhhh dont miss youer chance everbody!!
full strength now!!

ups shall we hold this position?
  • #110,234
  • Jan 8, 2009 8:56am Jan 8, 2009 8:56am
Quoting trader2160

Dont sell as the market is going down. wait for a retrace near the highs and then sell. To easy to get stopped out or take alot of heat if you sell now
  • #110,235
  • Jan 8, 2009 8:57am Jan 8, 2009 8:57am
Quoting trader2160

Dont sell as the market is going down. wait for a retrace near the highs and then sell. To easy to get stopped out or take alot of heat if you sell now.
  • #110,236
  • Jan 8, 2009 8:57am Jan 8, 2009 8:57am
Quoting steelhead
I just want to say well done to mpurdy and sherm they are truly learning how the market works and have cought on very well.

Good job guys you are doing great.

i learned it from you; thanx !

note: i used to see your post and think "why would you long/short here - is he crazy?" now i realized i was the crazy one...

buy on the dips and sell on the rallies (have to used your brain when entering... wait till the market get tired...then trade the opposite way)
  • #110,237
  • Jan 8, 2009 8:58am Jan 8, 2009 8:58am
Quoting uut
ahhhh dont miss youer chance everbody!!
full strength now!!
never chase the shit.... if you missed it... you missed it.... it is the easiest way to get burned...
Patience + Discipline - Greed = Success
  • #110,238
  • Jan 8, 2009 8:58am Jan 8, 2009 8:58am
do ppl look at 5 min chart? there is chances where heand and shoulder may form up. how do u guys look at it?

think 1.5285 is a good time to go into short. any comment on the analysis?
  • #110,239
  • Jan 8, 2009 9:00am Jan 8, 2009 9:00am
1.5223 fibo support...see what happens :nerd:
  • #110,240
  • Jan 8, 2009 9:01am Jan 8, 2009 9:01am
closed one of my short for +130 , stop on the other one at +25 ( 5290 )
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