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Cable Update (GBPUSD)

  • #150,821
  • Jul 25, 2009 11:21am Jul 25, 2009 11:21am
And lbr stop wasting my efforts, every time I increase the account you take it back to where we started from.
  • #150,822
  • Jul 25, 2009 11:25am Jul 25, 2009 11:25am
Quoting Bones
Last time we were over 9000 it was rejected quick...it has not ...yet ..if it is I am wrong.

That's kind of what I was getting at with my charts. With the exception of about 5 days in Oct.08, every time it's approached 9100 it's been rejected. Should be interesting but if it does continue up, I don't think it will be far or long lasting. Just my 2 pips.
Ghost Rider - WWTBMD?
  • #150,823
  • Jul 25, 2009 11:27am Jul 25, 2009 11:27am
Quoting malcolmb14
ok what the hell ....

25 banks failed 2008 ..... according to fdic list

64 so far this year ......

but why ? I thought banks were making loads of cash ......

lol ... oh my the poor retail investor who thinks the market is great is going to have one nasty surprise soon
And those are the banks that did not get bought by the Big Boys, Wamu/Chase for example.

Here is the link of failed banks:

http://www.fdic.gov/bank/individual/.../banklist.html

Make sure you look @ the closing date, not the updated date
I trade what I see on my charts. Do Not listen to the Muppets.
  • #150,824
  • Jul 25, 2009 11:29am Jul 25, 2009 11:29am
Quoting Vanhook2
And those are the banks that did not get bought by the Big Boys, Wamu/Chase for example.

Here is the link of failed banks:

http://www.fdic.gov/bank/individual/.../banklist.html

Make sure you look @ the closing date, not the updated date
These are small village / community banks

Not BIG BANKS
  • #150,825
  • Jul 25, 2009 11:30am Jul 25, 2009 11:30am
Quoting forexlion

  1. Monday first thing should be a kiss of 1.6383
  2. Should it break 1.6383 which is doubtful at the moment because of a strong daily support below this on which it has already bounced twice
  3. But should it break this level, then we could see some tanking

But

 

  1. I am entirely in favor of tight range trading
  2. So keep scalping off 5 min charts, and forget big targets
  3. Collect 5 or 10 pips per trade and be happy

Just range trading GU on a 5 min chart for 5 to 10 pips per trade, nothing else

get in and exit quick
Attached Image
  • #150,826
  • Jul 25, 2009 11:39am Jul 25, 2009 11:39am
Quoting forexlion
Just range trading GU on a 5 min chart for 5 to 10 pips per trade, nothing else

get in and exit quick
Hey Bro whats happening to your weekend? Time for a break. LOL

Should we break 1.68300 then aim for more than 5-10pips. Take a look on the 4hr chart.

Z
  • #150,827
  • Jul 25, 2009 11:44am Jul 25, 2009 11:44am
MACD chart pattern which is good and which is bad for scalping 5 min
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  • #150,828
  • Jul 25, 2009 11:45am Jul 25, 2009 11:45am
Quoting zuret9
Hey Bro whats happening to your weekend? Time for a break. LOL

Should we break 1.68300 then aim for more than 5-10pips. Take a look on the 4hr chart.

Z
in a 20 pip range a scalper can collect 10 times more pips a trend trader can in entire week.
  • #150,829
  • Jul 25, 2009 11:49am Jul 25, 2009 11:49am
Quoting forexlion
in a 20 pip range a scalper can collect 10 times more pips a trend trader can in entire week.
Am with you on that one. Was directing my answer to newbs as they can blow their a/c 10 times as fast in a 20pips range.

Z
  • #150,830
  • Jul 25, 2009 11:51am Jul 25, 2009 11:51am
Quoting zuret9
Am with you on that one. Was directing my answer to newbs as they can blow their a/c 10 times as fast in a 20pips range.

Z
this post
http://www.forexfactory.com/showpost...stcount=150829

specifically details how i scalp

simple and stupid

when to enter and when to just avoid
  • #150,831
  • Jul 25, 2009 12:19pm Jul 25, 2009 12:19pm
Quoting 5abi
..Read this..

http://www.cnbc.com/id/32122827
yup Goldman sachs steals 100 million per day form the markets by high frequency trading. Likely it is even more than that .

Now Goldman sachs say they do not have any unfair advantage !!! .. mmmm ok I guess my computer and trading software should be able to do that also and why if they have no unfair advatnage did they set the Feds on the trader that left Goldman with their high frequency trading????

US is spending billions on hunting down a terrorist .... when the real terrosist of the US that are robbing their citizens blindly with the support of the US Government is right on wall street. This is almost as bad as medival days when the Lords robbed the pheasants. They say countrys in Africa are corrupt , but when doing research the US is worse than all of them .

go to you tube and search Max Keiser .... see what he has to say baout goldman sachs

oh no now the men in black are knocking on my door .. got to go .....lol
Blogging daily now at www.volume.zone
  • #150,832
  • Jul 25, 2009 12:24pm Jul 25, 2009 12:24pm
Quoting 5abi
US Government has pumped in a lot of money into the system. All this equity rally and stuff is just people like goldmen trading and making billions. Average guy like u and me are hoarding cash. The banks have that have failed are mostly local small banks that depend on local commuities.towns for survival they are not like goldmen that trade/speculate globally. The moment the govet money runs out this thing will come down.

Good news is out there but it is being caused by the government money. US is being effectively being ruled by one party socialists...
next thing on the agenda is inflation ..... they talk about a deflationary period , but how can you talk about a deflationary period when you are printing money like wild fire ? and why are in the US is the banks rates 5.25 % or so on a mortgage when the base rate is .25 % ??? The sheeple just accept this ? again robbery of the money earners by the banks

In Canada here we are passed some savings with our variable rate being 1.75% 5 year rates at 3.5%

I hope inflation does not come ..... think things are bad now with 10 % unemployment ... companies lending rates will go up , earned money will buy less.

1980s here in Canada interest rates same as credit cards ... I pray that day does not come again
Blogging daily now at www.volume.zone
  • #150,833
  • Edited 12:46pm Jul 25, 2009 12:35pm | Edited 12:46pm
Quoting forexlion
in a 20 pip range a scalper can collect 10 times more pips a trend trader can in entire week.
good going forexlion that looks like your using standard macda settings 12/26/9 is that right? how about ading levle +70 -70 and call it no trade zone i love the fact you done it super simple way try harder right. i looking at macda dot indicator right now looks visualy helpful im going to try and modifiy it with 7070 levels i like your simple way of doing it even more then anything in c4 tread. Thanks
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  • #150,834
  • Jul 25, 2009 12:51pm Jul 25, 2009 12:51pm
Quoting forexlion
These are small village / community banks

Not BIG BANKS

most countrys do not even have 64 banks ......

and wasn't it the villagers of Scotland that caused the Romans to build Hadrian's wall to keep them in Scotland as they were scared of the fierce tribesmen

this is what has been underestimated and overlooked. Isn't the same fundamental reasons that the small banks going down going to effect the big banks ... and why if everything is so great , did they change the mark to market ruling last quarter , where banks do not have to report losses on assets if they are willing to hold those assets till they come back to positive value... and why if they are making billions is BOA complaining about a mere 4 million tarp fee ?

One cause of the Great Depression was an epidemic of bank failures... is 64 , 2.5 times the banks failures of last year and the year is not done yet an epidemic ... who knows.

CIT is crying they do not get more money by August (3 billion plus) they will file for Chapter 11 ..... hold on they JUST got 3 billion loan from bond holders like JP Morgan etc ......if they go down this loan will not be repaid and how can they have burnt thru 3 billion already

This on the news wires .. well not mentioned much now and DJ goes up because of a few better than expected earnings reports !!!

all you got to do is look at this article...... http://www.marketwatch.com/story/coc...upont-in-focus ... each company in that report have revenues down considerably form last year..Coca cola reported better profit BUT their revenue was down almost 1 billion dollars (10%).... talk about creative financing.

credit is a main stream everyday part of our lives. How many in here use credit cards each month just to survive .. how many have increase in wages yet still manage to live beyond their means. Credit , credit cards ,car loans , mortgages we really cannot afford , store cards etc etc are sadly part of the Global spending habits and culture. The Great Depression did not have the issue of debt that is present in out society todaqy, NOR did the 1980's when interest rates were out of control .

oh well this is why I love being a day trader .. wake up and see what is goingo n that day ... try to ignore news as much as I can
Blogging daily now at www.volume.zone
  • #150,835
  • Jul 25, 2009 12:55pm Jul 25, 2009 12:55pm
i entered several buy orders from 1.6521 hoping that PA direction was north and then after PA descended south for a long time i got discouraged and entered a lot size that would hedge my previous longs..then suddenly the market began to go north...it felt like the PA was anticipating my moves damn!!..please someone has got to help me b4 this account disappears lol.
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  • #150,836
  • Jul 25, 2009 1:06pm Jul 25, 2009 1:06pm
Quoting fanzy45
i entered several buy orders from 1.6521 hoping that PA direction was north and then after PA descended south for a long time i got discouraged and entered a lot size that would hedge my previous longs..then suddenly the market began to go north...it felt like the PA was anticipating my moves damn!!..please someone has got to help me b4 this account disappears lol.
what your account size and what overall lot sizes( position sizes are u in the market..)

i dont want to make u nervous or anything however august its a week away proved last year to be very costly for a lot of traders..i will do my chart analysis b4 tomorrow and see if anything can be of use to u....

on the weekly thou u need to place a stop loss below the low of this week..otherwise u will likely lose your account

In your chart u have made a channel downtrend and u bought..this was yur biggest blunder
  • #150,837
  • Jul 25, 2009 1:10pm Jul 25, 2009 1:10pm
I use value area trading .. google value area trading, I am not going to go into this technique as it is based purely on volume histogram form the previous day and the high volume pivots from up to 20 days ago

The value area of the prior day and prices reaction to it will tell you if we have a bull day , bear day or range day

right now Fridays lower value area was 1.6410 . If in London session price stays above the lower value area of prior trading day there is 80 chance we move to 1.6462

in a scalpers world these levels are invaluable

1st chart 15 min

2nd chart 3 min with a 14 wma plotted on it ... price under 14wma sell ... price passes up and closes above 14 wma buy. I use 14 wma to

rsx setting on 3 min chart .. 21 works awesome


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Blogging daily now at www.volume.zone
  • #150,838
  • Jul 25, 2009 1:19pm Jul 25, 2009 1:19pm
Quoting fanzy45
i entered several buy orders from 1.6521 hoping that PA direction was north and then after PA descended south for a long time i got discouraged and entered a lot size that would hedge my previous longs..then suddenly the market began to go north...it felt like the PA was anticipating my moves damn!!..please someone has got to help me b4 this account disappears lol.
This is the risk of trading using lower time frame. It's just liked circling a crowded city with lots of alleys, lanes, etc but without using a map or now GPS
Anyway, above illustration certainly not helping now since you're already trapped. You need someone to hand u a map or GPS or maybe u can just do it yourself, which is by going to higher time frame. I would suggest u use daily and weekly.
Scalping using smaller time frame is not for everyone even experienced traders if they ain't armed well. Spotting buying and selling volume is crucial for scalping and u don't have it. So, never do it again next time unless u want to go broke.
  • #150,839
  • Jul 25, 2009 1:27pm Jul 25, 2009 1:27pm
Quoting nAVIN2007
what your account size and what overall lot sizes( position sizes are u in the market..)

i dont want to make u nervous or anything however august its a week away proved last year to be very costly for a lot of traders..i will do my chart analysis b4 tomorrow and see if anything can be of use to u....

on the weekly thou u need to place a stop loss below the low of this week..otherwise u will likely lose your account

In your chart u have made a channel downtrend and u bought..this was yur biggest blunder
i made that channel few hours ago while searching for measures to save myself.

here are my positions:

0.1 lot @ 1.6521 buy

0.1 lot @ 1.6515 buy

0.3 lot @ 1.6510 buy

0.3 lot @ 1.6474 buy

0.3 lot @ 1.6464 buy

0.3 lot @ 1.6443 buy

0.8 lot @ 1.6454 buy

2 lot @ 1.6394 sell
  • #150,840
  • Jul 25, 2009 1:45pm Jul 25, 2009 1:45pm
Quoting fanzy45
i made that channel few hours ago while searching for measures to save myself.

here are my positions:

0.1 lot @ 1.6521 buy

0.1 lot @ 1.6515 buy

0.3 lot @ 1.6510 buy

0.3 lot @ 1.6474 buy

0.3 lot @ 1.6464 buy

0.3 lot @ 1.6443 buy

0.8 lot @ 1.6454 buy

2 lot @ 1.6394 sell
what % margin to these positions take up, i mean...how many pips can price go against u inorder for u to say this is enough.....whats your risk?
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