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Cable Update (GBPUSD)

  • #113,801
  • Jan 21, 2009 11:22am Jan 21, 2009 11:22am
Quoting eohater
Good job!!
Thank bro. Very happy to see many members caught long at the lowest level !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #113,802
  • Jan 21, 2009 11:23am Jan 21, 2009 11:23am
Quoting allserene
looking at my hourly chart for the last few days, it appears that the market makers are selling cable

If they aren't then they are losing their shirts

It isn't hard really

thus why my shorts were taken at the beggining of the week over 1k pips ago. Now im positioning some longs
  • #113,803
  • Jan 21, 2009 11:23am Jan 21, 2009 11:23am
Quoting allserene
news - Madoff used 'a sophisticated trading strategy'

sound familiar ?
It didn't include an intricate hybrid trading method of scaled batched hedging (doubling your bet on the way down and hoping for the best)? I have heard very positive things about this system in the past few days, but I can't remember where from.

  • #113,804
  • Jan 21, 2009 11:24am Jan 21, 2009 11:24am
Ok, as most of you can tell I don't know jack didley squat. But would like too.

Maybe some of you could tell me if the movement after a H&S is equal to the hight of the head from the neckline, or have I dreamt I read that somewhere.

If this is the case is this latest low the bottom of this move with some significant retrace expected??

Call me a clown if you want, I dont give two blurts on a rag man's trumpet, but I am intrested in what you think..
Attached Image (click to enlarge)
Click to Enlarge Name: H&S 21 01 09.jpg Size: 118 KB
  • #113,805
  • Jan 21, 2009 11:28am Jan 21, 2009 11:28am
Maybe some of you could tell me if the movement after a H&S is equal to the hight of the head from the neckline, or have I dreamt I read that somewhere.

I remeber reading that when i was at varsity last year.
Keep It Simple Stupid
  • #113,806
  • Jan 21, 2009 11:29am Jan 21, 2009 11:29am
Quoting Si Tr4d3r
Call me a clown if you want, I dont give two blurts on a rag man's trumpet, but I am intrested in what you think..
Lovely to see Brit speak

Americans should know that 'rag men' went round the town with a trumpet and shouting 'any old iron rag bone'.. recycling eh

The northern expression is 'he should be stuffed with a rag man's trumpet'

slight historical aside there
  • #113,807
  • Jan 21, 2009 11:30am Jan 21, 2009 11:30am
i dont believe its a true h & s.
I think its what was described earlier as descending triangle.
I have always beleived h&s is a reversal pattern and for downtrend it wud be upside down.
Im sure somone will disagree tho.
  • #113,808
  • Jan 21, 2009 11:31am Jan 21, 2009 11:31am
Quoting steelhead
yes i did and when i said that the other day it was a profitable long trade.

More peanut gallary.

Besides some in here were at a webcast i held last thursday where we talked about shorting g/u g/j e/j u/j at the start of the trading week

that was thousands of pips ago on those currencies. There are some that are viewing this thread now that were there that night at the webcast.

Congrats to them


Look. My point was to call breakout traders clowns is uncalled for. Some very successful traders trade breakouts. Interesting that you mention your short bias on the webcast then post a chart on Monday telling everyone to buy.
  • #113,809
  • Jan 21, 2009 11:32am Jan 21, 2009 11:32am
Been thinking it over. No more trade calls for me. No more analysis for me. No more insights in this thread.


Good luck everyone
  • #113,810
  • Jan 21, 2009 11:36am Jan 21, 2009 11:36am
Quoting deuce
Look. My point was to call breakout traders clowns is uncalled for. Some very successful traders trade breakouts. Interesting that you mention your short bias on the webcast then post a chart on Monday telling everyone to buy.
classic !
  • #113,811
  • Jan 21, 2009 11:37am Jan 21, 2009 11:37am
Quoting steelhead
Been thinking it over. No more trade calls for me. No more analysis for me. No more insights in this thread.


Good luck everyone
Too bad, I find them insightful and educational. Hope you'll continue to post in your other thread(s).
  • #113,812
  • Jan 21, 2009 11:37am Jan 21, 2009 11:37am
Quoting steelhead
Been thinking it over. No more trade calls for me. No more analysis for me. No more insights in this thread.


Good luck everyone
If you change your mind, you could re-register as 'ironhead'

nobody would know
  • #113,813
  • Edited 11:48am Jan 21, 2009 11:39am | Edited 11:48am
edited: no-need really.
  • #113,814
  • Jan 21, 2009 11:39am Jan 21, 2009 11:39am
Quoting allserene
If you change your mind, you could re-register as 'ironhead'

nobody would know

wow case in point made
  • #113,815
  • Jan 21, 2009 11:41am Jan 21, 2009 11:41am
Quoting deuce
Look. My point was to call breakout traders clowns is uncalled for. Some very successful traders trade breakouts. Interesting that you mention your short bias on the webcast then post a chart on Monday telling everyone to buy.

What is more interesting is that by the time I was talking longs my shorts were +600 or more. So yes I was looking for longs there and made money doing it.

Meantime my shorts from just below 1.5 were still on.

Keep trying though to knock me down
  • #113,816
  • Jan 21, 2009 11:43am Jan 21, 2009 11:43am
hi all,
quick question, is today good time to long gu, because tommorow 5.30 gmt-8 timezone, forecast for usd will be bad??

best regards,
Alexander
  • #113,817
  • Jan 21, 2009 11:45am Jan 21, 2009 11:45am
Quoting steelhead
wow case in point made
Look - you have the guts to stay and fight your corner eh ?

Well then -do it

I dont have a problem with you apart from all this about you have inside knowledge of big banks trading rooms or whatever it was

Don't take your bat home - prove yourself with your trades by pre - announcing and then advertising your taken profit

That will rub your detractors noses in it

Nobody can argue with the math of 2+2=4
  • #113,818
  • Jan 21, 2009 11:46am Jan 21, 2009 11:46am
Hey! does anyone know a good source for historical GBP/USD data ? fx_local, what's your source, where did you get that chart !?

Cheers.

A trading n00bie !
  • #113,819
  • Jan 21, 2009 11:51am Jan 21, 2009 11:51am
nice breakout there, would have been an easy 100 pips for any clown willing to take it
  • #113,820
  • Jan 21, 2009 11:54am Jan 21, 2009 11:54am
Quoting steelhead
Been thinking it over. No more trade calls for me. No more analysis for me. No more insights in this thread.


Good luck everyone
Trade calls, insights and opinions are fine, but name calling is a little juvenile.

For as many posters as there are on this forum, there are that many different trading styles. Some longer term and some very short term. For those that are successful have discovered which style is most comfortable for them selves.

I, for one, follow the market and let it take me where it wants to go. Therefore many times I am buying mid-stream and even on the highs before the market continues higher. I know that it is labor and time intensive, as compared to longer term trading, but I have developed a set of MM rules that allow me to limit my risk while still making a good living. I also enjoy all the news feed and information that I have access to. As an aside, I have been successfully trading since 1979, both in the pits and at my desk.

I have mentored many traders over the years and I learned very early on that I can only expose them to my trading style, but it is up to them to develop their own. Only a small fraction have actually adopted my style for them selves. Yet even those that have developed different style have also gone on to be successful traders.

The old saying "you can lead a horse to water, but you can't make them drink" is very true. I know that I for one would be interested if you continue to lead us to "your" water, but leave it up to us to determine if we will drink or not.

Good luck and continued green pips to you.
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