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Cable Update (GBPUSD)

  • #113,741
  • Jan 21, 2009 9:50am Jan 21, 2009 9:50am
Quoting steelhead
Well well whata know. break 3680 get the clowns short the break and lookie lookie what we have now.
I didn't short the break but there's no need for calling people who did clowns
  • #113,742
  • Jan 21, 2009 9:56am Jan 21, 2009 9:56am
Quoting ezodisy
I didn't short the break but there's no need for calling people who did clowns

yes their is cause thats what they are. Typical of the retail trader trade the breakouts and get your lunch handed to you.

They dont have the understanding that the break was bs just another way to take their money. They short 1000 pips lower then where the setup was.

So they are here to forth called clowns. Clowns they will remain till they start learning how to read the market.
  • #113,743
  • Jan 21, 2009 9:58am Jan 21, 2009 9:58am
steelhead shhhh!!!, dont tell them because its good for your wallet.
  • #113,744
  • Jan 21, 2009 9:58am Jan 21, 2009 9:58am
Quoting ezodisy
I didn't short the break but there's no need for calling people who did clowns
Like the saying goes: 90% of first break outs are false breakouts.
Probability Professor
  • #113,745
  • Jan 21, 2009 9:59am Jan 21, 2009 9:59am
Quoting steelhead
yes their is cause thats what they are. Typical of the retail trader trade the breakouts and get your lunch handed to you.

They dont have the understanding that the break was bs just another way to take their money. They short 1000 pips lower then where the setup was.

So they are here to forth called clowns. Clowns they will remain till they start learning how to read the market.
well said
  • #113,746
  • Jan 21, 2009 10:02am Jan 21, 2009 10:02am
Quoting steelhead
yes their is cause thats what they are. Typical of the retail trader trade the breakouts and get your lunch handed to you.

They dont have the understanding that the break was bs just another way to take their money. They short 1000 pips lower then where the setup was.

So they are here to forth called clowns. Clowns they will remain till they start learning how to read the market.
To an extent, I agree with what you say. However, I traded short the break for a scalp (which is not your style, as you've said). I then flipped position and went long at 51 when there was no follow through.
  • #113,747
  • Jan 21, 2009 10:03am Jan 21, 2009 10:03am
Now now gentlemen, remember, 'A soft answer turns away wrath, But a harsh word stirs up anger.'
Probability Professor
  • #113,748
  • Jan 21, 2009 10:04am Jan 21, 2009 10:04am
Quoting steelhead
yes their is cause thats what they are. Typical of the retail trader trade the breakouts and get your lunch handed to you.

They dont have the understanding that the break was bs just another way to take their money. They short 1000 pips lower then where the setup was.

So they are here to forth called clowns. Clowns they will remain till they start learning how to read the market.
Your reasoning is sound enough but your approach in conveying it (and spelling) is appalling. They're not clowns, they can be in for a quick scalp (as above), and can make money doing so. You have made enough counter-trend calls, many wrong, and I don't see anyone calling you a clown. So give it a rest please.
  • #113,749
  • Jan 21, 2009 10:06am Jan 21, 2009 10:06am
Correct if i'm wrong but a pin-bar on the 1 hour chart?
"The trend is your friend, until the end."
  • #113,750
  • Jan 21, 2009 10:13am Jan 21, 2009 10:13am
Ok so here is the deal. what is the purpose of that one hour candle i highlighted. there are a few reasons that it broke the support.

1. for those who were long above and placed there stop right at that 3680 level. Shakeout they lost

2. to get the clowns as they are now reffered to as or the herd to short the break of that. Now it could have been a profitable trade for like 15 minutes.

3. Notice how it has settled now a ways away from 3680 they took it down and stole folks money.

Its not really hard to understand guys, but most of you dont think outside the box. Most dont think how are they going to try and screw with my mind?

this is how they do it. They push it past the support causing panic shorts. then they eat the shorts lunch.

Im really getting tired of trying to explain to some of you that the reason you lose is cause your thought proccess is wrong.

Start reading what is really going on behind price. Start asking yourself what are the professionals thinking. How are they going to try and take my money
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  • #113,751
  • Jan 21, 2009 10:14am Jan 21, 2009 10:14am
Quoting ForexRookie
Correct if i'm wrong but a pin-bar on the 1 hour chart?
The one that looks similar to a hammer, with the mysterious shadow?
Probability Professor
  • #113,752
  • Jan 21, 2009 10:15am Jan 21, 2009 10:15am
Quoting ForexRookie
Correct if i'm wrong but a pin-bar on the 1 hour chart?
h1..
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Patience + Discipline - Greed = Success
  • #113,753
  • Jan 21, 2009 10:18am Jan 21, 2009 10:18am
Quoting steelhead
1. for those who were long above and placed there stop right at that 3680 level. Shakeout they lost
I think that was the main reason... stop loss hunting...

The daily close will be telling....
Patience + Discipline - Greed = Success
  • #113,754
  • Jan 21, 2009 10:18am Jan 21, 2009 10:18am
ill add my 2 cent to ur post steel head. Proffesionals are already in the market at certain levels. Can u spot them?
  • #113,755
  • Jan 21, 2009 10:22am Jan 21, 2009 10:22am
Quoting gammase1
come to London! i'll shout you a pint of London Pride... i won't be able to afford any foreign ales,,,
London beer ? jeez I had forgotten about that - the headless horseman of the Apocalypse

I will fly into Manchester and hire a van and buy a keg of timothy Taylor's championship ale and drive down the M6 with it

Actually I will be in Harrogate next week for a few pints of Timmy and some fish and chips and Cheshire cheese and a currant teacake - then back to la-la land - its worse food than Germany and that's saying summat

ok i am short from here
  • #113,756
  • Jan 21, 2009 10:22am Jan 21, 2009 10:22am
Quoting steelhead
Ok so here is the deal. what is the purpose of that one hour candle i highlighted. there are a few reasons that it broke the support.

1. for those who were long above and placed there stop right at that 3680 level. Shakeout they lost

2. to get the clowns as they are now reffered to as or the herd to short the break of that. Now it could have been a profitable trade for like 15 minutes.

3. Notice how it has settled now a ways away from 3680 they took it down and stole folks money.

Its not really hard to understand guys, but most of you dont...
It's true. The market makers manipulate the herd, and they LOVE it when there are breakouts, because that means more profit for them, as they fade the breakout. Where most people are shorting, people should be doing what the market makers are going to do, and in a lot of cases, that's fading the breakout, therefore one should fade with them.

There is a lot of price manipulation that goes on in the market, therefore it's very important one knows why this manipulation is happening, when it happens, and how to capitalize on this knowledge.

One has to think not in terms of, 'What is everybody going to do at this point', but one has to have an understanding of what the market makers are going to be doing at this point. They use the same tricks over and over, taking money from people who don't know their little tricks.

For anybody who don't know anything about this whole area, I suggest you do as much reading and gain as much understanding on the subject as you can, and then watch it unfold in the price action.
Probability Professor
  • #113,757
  • Jan 21, 2009 10:23am Jan 21, 2009 10:23am
Quoting ezodisy
Your reasoning is sound enough but your approach in conveying it (and spelling) is appalling. They're not clowns, they can be in for a quick scalp (as above), and can make money doing so. You have made enough counter-trend calls, many wrong, and I don't see anyone calling you a clown. So give it a rest please.


I could care less if my spelling is a bit of, Im not an english teacher im a fulltime trader. Im Interested in making money not if my spelling is off. I mean really is that the best you can do my spelling?

The reason I dont get called a clown is cause most the well respected traders in here now that i know what im doing. Most in here that have any clue how the market works will vouch for my knowledge
  • #113,758
  • Jan 21, 2009 10:24am Jan 21, 2009 10:24am
Quoting gammase1
To an extent, I agree with what you say. However, I traded short the break for a scalp (which is not your style, as you've said). I then flipped position and went long at 51 when there was no follow through.
Closed half position out @ 3751 (+100pips) and placed s/l on remaining portion at BE+25pips.

Slowly making back loss from earlier in week.

Done for today.
  • #113,759
  • Jan 21, 2009 10:24am Jan 21, 2009 10:24am
Quoting fry2010
ill add my 2 cent to ur post steel head. Proffesionals are already in the market at certain levels. Can u spot them?
yes nick leeson
  • #113,760
  • Jan 21, 2009 10:26am Jan 21, 2009 10:26am
Quoting allserene
yes nick leeson
Where????
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