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Cable Update (GBPUSD)

  • #125,141
  • Mar 5, 2009 10:06am Mar 5, 2009 10:06am
Heh. okay okay. You're right. i'll just hope for the best.
Thank You
  • #125,142
  • Mar 5, 2009 10:11am Mar 5, 2009 10:11am
The beauty of forex is exacly the fact that in anytime there will be someone on the other side to take the trade based on different TF opinion, needs, system, etc...

50 pips Sl or less is also crazy over GU....
Books and reality... most of author don't even trade....

And try to scalp whit a nice RRR ratio... LOL 20 pips Target 7 pips Sl?..... funny
  • #125,143
  • Mar 5, 2009 10:15am Mar 5, 2009 10:15am
Quoting allserene
Totally agree .... we need to look for entry points which are extremely opposite to what we perceive as the direction...

These opportunities do present, and thats the time to climb aboard - unfortunately I always get in too soon and have a heart stopping 30 mins. Have to work on that
Yup. One has to be a Zen Buddhist master to be a good trader...I'm more of a mad monk most of the time......
  • #125,144
  • Mar 5, 2009 10:17am Mar 5, 2009 10:17am
Review of current price action point to some kind of market manipulation…… Why I think that……..

They are telling big boys are shorting everything and buying Credit Default Swaps and Put Options…….either way they will win………Recently they got burnt big time and some rendered bankrupt ….. they told everybody to short Volkswagen stocks but people started to buy the stock at that point…… for a short period of time Volkswagen surpassed all the leading companies……. They are doing the same with currency markets too …… these gloom and doom crowd is a disgrace……… while China and Japan trying their best to over come current predicaments they are in and to bring about some kind of economic sanity to the public …….. Gloom Doom crowd started to Bleep/F.k the market when remedial action taken

Lol
BANDA333
  • #125,145
  • Mar 5, 2009 10:19am Mar 5, 2009 10:19am
Quoting Inzider
The beauty of forex is exacly the fact that in anytime there will be someone on the other side to take the trade based on different TF opinion, needs, system, etc...

50 pips Sl or less is also crazy over GU....
Books and reality... most of author don't even trade....
You are right Wormboy working with larger TF and me too so yes the stop loss is larger,and I completely agree with him that 30 pips stop loss at the market like this and now it's just giving money away.If you not sure where the market is going just stay out until you see it.I don't understand ppl. that get on 15 min,TF and not looking at bigger picture.
  • #125,146
  • Mar 5, 2009 10:20am Mar 5, 2009 10:20am
I believe in theravada buddhism, as they think Buddha was a human who archived the status Nirvana

Quoting linleysound
Yup. One has to be a Zen Buddhist master to be a good trader...I'm more of a mad monk most of the time......
BANDA333
  • #125,147
  • Mar 5, 2009 10:28am Mar 5, 2009 10:28am
Quoting sofia101
You are right Wormboy working with larger TF and me too so yes the stop loss is larger,and I completely agree with him that 30 pips stop loss at the market like this and now it's just giving money away.If you not sure where the market is going just stay out until you see it.I don't understand ppl. that get on 15 min,TF and not looking at bigger picture.
I'm more of a position trader using larger TF/SLs too, which is why I think entering at this current level and condition is not particularly wise
  • #125,148
  • Mar 5, 2009 10:33am Mar 5, 2009 10:33am
Quoting sofia101
I don't understand ppl. that get on 15 min,TF and not looking at bigger picture.
I guess much the same way as I don't understand the longer term holders.

The ranging of market as of current will let us see 3-500 pip days and collectively working, by the day following, will see a 3-5 pip gain...All depending on where you've taken position....

30 pips is typically a max s/l for me...I am just not interested in looking at anything that deeper. I play between the plays. Quick, some trades in for 30 seconds, others max out @ 90 mins, and the odd play, will leave as an overnighter (only set a t/p on these).

My criteria is set pretty stock, 30-50 depending on range plays, finger on the trigger waiting to exit when I hit mark, stop loss set incase I have a misread on the direction...

I have looked back at a few stop losses, tripped out, then within 5 mins, would still be in play, but have also caught in a 200 massive dump and rebound on GJ, and nearly puked....

I say as long as we prosper, there really are no wrong sides of the trade.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125,149
  • Mar 5, 2009 10:33am Mar 5, 2009 10:33am
Quoting linleysound
I'm more of a position trader using larger TF/SLs too, which is why I think entering at this current level and condition is not particularly wise
I agree ,but I posted that if we make to 1.4180-90 I will sell and maybe I am wrong ,but stay by my decisions
  • #125,150
  • Mar 5, 2009 10:36am Mar 5, 2009 10:36am
Quoting Magix
I guess much the same way as I don't understand the longer term holders.

The ranging of market as of current will let us see 3-500 pip days and collectively working, by the day following, will see a 3-5 pip gain...All depending on where you've taken position....

30 pips is typically a max s/l for me...I am just not interested in looking at anything that deeper....
Sure I wish you all the luck,for me that kind of scalping is not right ,but if it's works for you,great
  • #125,151
  • Mar 5, 2009 10:39am Mar 5, 2009 10:39am
Quoting linleysound
...I'm more of a mad monk most of the time......
That's what they called Ghandi, but he got to walk round the streets in a baby's nappy without getting arrested - which is more than I can do


http://www.evespeer.com/images/Ghandi.jpg

let's go to 4220 and stick humungous shorts on

oops humungous shorts - all roads lead to Ghandi
  • #125,152
  • Mar 5, 2009 10:39am Mar 5, 2009 10:39am
Quoting Magix
I guess much the same way as I don't understand the longer term holders.

The ranging of market as of current will let us see 3-500 pip days and collectively working, by the day following, will see a 3-5 pip gain...All depending on where you've taken position....

30 pips is typically a max s/l for me...I am just not interested in looking at anything that deeper....
It's like in this old joke :why run after one cow if we can walk and get them all
  • #125,153
  • Mar 5, 2009 10:40am Mar 5, 2009 10:40am
Trading account size and position size are the real variables i think...
Someone who trade whit 100k and the one trading whit 1k don't see thing the same... Hehe!

-----------

LoL Sofia!
  • #125,154
  • Mar 5, 2009 10:42am Mar 5, 2009 10:42am
Quoting Inzider
Trading account size and position size are the real variables i think...
Someone who trade whit 100k and the one trading whit 1k don't see thing the same... Hehe!

-----------

LoL Sofia!
Nope it's still % of your trade with a good MM you can trade any account size
  • #125,155
  • Mar 5, 2009 10:43am Mar 5, 2009 10:43am
Hello , people .
  • #125,156
  • Mar 5, 2009 10:47am Mar 5, 2009 10:47am
Quoting sofia101
It's like in this old joke :why run after one cow if we can walk and get them all
Color me the young bull, still of the mind, that a bird in the hand is worth 2 in the bush....

I agree, scalping not for everybody, blew up a couple of accounts working this angle in past...head strong and cock sure....

With recent weeks activity, there seems to always be a better position....

*shrugs shoulders*

I appreciate the learning here on the forum, love the banter, and who knows, maybe some day I will be good and patient enough to walk down and get them all....
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #125,157
  • Mar 5, 2009 10:49am Mar 5, 2009 10:49am
Nice 30 pips in Buy and 20 pips in sell good timings
  • #125,158
  • Mar 5, 2009 10:49am Mar 5, 2009 10:49am
Quoting Magix
Color me the young bull, still of the mind, that a bird in the hand is worth 2 in the bush....

I agree, scalping not for everybody, blew up a couple of accounts working this angle in past...head strong and cock sure....

With recent weeks activity, there seems to always be a better position....

*shrugs shoulders*

I appreciate the learning here on the forum, love the banter, and who knows, maybe some day I will be good and patient enough to walk down and get them all....
I wish you luck
  • #125,159
  • Mar 5, 2009 10:53am Mar 5, 2009 10:53am
Quoting sofia101
It's like in this old joke :why run after one cow if we can walk and get them all
Sofia you are so sophisticated ! the word was not 'get' in the original !

take you are still a very long term trader

I would like to be but I am lost right now.... when the stock market builds up to 8700 for the second time, I will start to relax on currencies and believe in directions
  • #125,160
  • Mar 5, 2009 10:56am Mar 5, 2009 10:56am
Quoting sofia101
I agree ,but I posted that if we make to 1.4180-90 I will sell and maybe I am wrong ,but stay by my decisions

I agree sofia, that 4190 level offers a lot of resistance. Good opportunity to look for a short.
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