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Cable Update (GBPUSD)

  • #153,941
  • Edited Apr 23, 2018 8:22pm Jul 31, 2009 2:57pm | Edited Apr 23, 2018 8:22pm
Naked Charts, Price Action and Psychology is all you need and makes for successful trading.


Here are a couple of PDF's on trading psychology to browse over this weekend for those on the forum who began to rant and rave, swear and pray during the recent moves.

Happy reading!

{ copyrighted attachments deleted by staff }
Attached File(s)
File Type: pdf Your_Personality_and_Successful_Trading, Windsor Advisory Services.pdf   383 KB | 398 downloads
File Type: pdf Zoom in on Personal Trading Behavior and Profit from it, Linda Bradford Raschke.pdf   168 KB | 422 downloads
  • #153,942
  • Jul 31, 2009 2:58pm Jul 31, 2009 2:58pm
It's at the end of the trading week. But I can see a bull flag being formed next week and a bullish breakout past the bull pole. I wouldn't be surprised at all to see a test of 1.70.
Probability Professor
  • #153,943
  • Jul 31, 2009 3:02pm Jul 31, 2009 3:02pm
Quoting KillPhil08
Ok I can't find it, but I have a feeling it's included in this. I'm just about to start reading it.

Written in 1910, this looks like a great study.

It's called "Studies in Tape Reading".

Have a good weekend everybody, I hope the last few hours of Friday night action has made your weekend pleasurable. If not, don't worry, Monday always serves long slow trends.

Have fun + relax.
Perfect.

Here you go:

Richard D. Wyckoff - The Day Trader's Bible - Or My Secret in Day Trading of Stocks

link: http://www.scribd.com/doc/17152665/R...ding-of-Stocks
  • #153,944
  • Jul 31, 2009 3:02pm Jul 31, 2009 3:02pm
Link to discussion here:

http://www.traderslaboratory.com/for...rces-3866.html

Just scroll down and find the link called "Studies in Tape Reading" unfortunately, although forex factory has 250,000 page views a day, and is worth quite a lot. They cannot afford to hold more than 1.91mb a file. What a farce.

The file is 2.1-4mb(i cant remember but its small).

Have fun again!
  • #153,945
  • Jul 31, 2009 3:06pm Jul 31, 2009 3:06pm


Great links DT, i'll be up all weekend!:nerd:

Have a good one, I know you've had a good week .
  • #153,946
  • Jul 31, 2009 5:03pm Jul 31, 2009 5:03pm
A Break even day for me. One trade missed TP by 16 pips, and made me poorer by 80 pips.

Quoting 5abi
Hey are you short?


both my entries were triggered, waiting now
Its all in the mind.
  • #153,947
  • Jul 31, 2009 5:03pm Jul 31, 2009 5:03pm
you da man, and I approve this message,

Quoting direct-trade
Naked Charts, Price Action and Psychology is all you need and makes for successful trading.


Here are a couple of PDF's on trading psychology to browse over this weekend for those on the forum who began to rant and rave, swear and pray during the recent moves.

Happy reading!
Its all in the mind.
  • #153,948
  • Jul 31, 2009 5:05pm Jul 31, 2009 5:05pm
IMF is an american organization. It is the US that wanst a weaker dollar. But why? Bernarke and Timy say everywhere they support a strong USD.

Quoting malcolmb14
what GOldman own the IMF also ....

this is why the weakness in USD today .. NOW question is what are pros going to do on this strength ?

The IMF also stated that the USD was moderately overvalued. This follows a report from the same organization earlier in the week which also said the Euro was
Its all in the mind.
  • #153,949
  • Jul 31, 2009 5:09pm Jul 31, 2009 5:09pm
BETWEEN 2K AND 2.5 MIL May I ask where you stand now

Quoting malcolmb14
if parying ....
lol learn to day trade ..2.5% risk ... 50 pip stop ( i never hit stop as I often close trade before 50 pip if i screw up) .... 30 pip per day target .

2 k to 2.5 million 30 months... no praying required .. just patience. This is why I learnt to day trade. I made my pips hours ago now goofing off in ff .. off to lake with family for afternoon
Its all in the mind.
  • #153,950
  • Jul 31, 2009 5:11pm Jul 31, 2009 5:11pm
What happened to Chris, not seen him post since I got back, which is unusual, he didn't do anything stupid did he ?? on that fake down move add to his position and hold all the way up ??

5Abi dude, have a good weekend, full time next week baby
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #153,951
  • Jul 31, 2009 5:16pm Jul 31, 2009 5:16pm
Quoting 5abi
BETWEEN 2K AND 2.5 MIL May I ask where you stand now

Dunno if thats for real, but thats my dream 100 pips per day is my target
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #153,952
  • Jul 31, 2009 5:18pm Jul 31, 2009 5:18pm
hey man wish you best! you have a solid system, go rock the markets just take care and dont invite too many hookers over lol

Quoting Turveyd
What happened to Chris, not seen him post since I got back, which is unusual, he didn't do anything stupid did he ?? on that fake down move add to his position and hold all the way up ??

5Abi dude, have a good weekend, full time next week baby
Its all in the mind.
  • #153,953
  • Jul 31, 2009 5:19pm Jul 31, 2009 5:19pm
hehe yeah focus on the job and money will follow.

Btw why 100 pips, even with 20 pips and a large position you can hit the target money wise.

Quoting Turveyd
Dunno if thats for real, but thats my dream 100 pips per day is my target
Its all in the mind.
  • #153,954
  • Jul 31, 2009 5:20pm Jul 31, 2009 5:20pm
if u make 20 pips every day without fail, then you are GOD. FOREX GOD.

I make like 50 pips a week. but I make it every week so guess I am kinda SemiGod.

Quoting RafaelBurn
I wish i was making 100 pips a day...im around 20 at max
Its all in the mind.
  • #153,955
  • Edited 2:41am Aug 1, 2009 1:02am | Edited 2:41am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Very good analysis DT. Good to have you on this forum mate.
What's you analysis for the month. I see monthly has closed below last month. Although this time it was clear bulls shooting up. But it all depends how asia, london reacts on monday. Seems it's going up but hey who knows.

I see it going to 1697xx, then 1748xxx.. look at the weekly , monthly fibs (from a while), and fibs are well respected by the big guys as well. Check out the charts.

posted in the next post(s)


Would appreiate if you care to give us your take on EU as well.

Keep it on..


ams



Quoting direct-trade
Help yourself to my SL, Im looking forward to getting yours

These are the charts I posted earlier. I mentioned I was waiting for confirmation on the 4hr before going Short again. Now that I watched the Buy orders being fed into the Spike down, I am now no longer Short biased and am long for the upper right hand box in the bottom Chart.

1st BUY at 16490, other Buys to be scaled in with obviously different targets from here.

Targets for first Buy order:

TP 1 16570
TP 2 16648
TP 3 16709
TP 4 16797
TP 5 16918

SL's are scaled in,...
  • #153,956
  • Aug 1, 2009 1:43am Aug 1, 2009 1:43am
Quoting Turveyd
What happened to Chris, not seen him post since I got back, which is unusual, he didn't do anything stupid did he ?? on that fake down move add to his position and hold all the way up ??

5Abi dude, have a good weekend, full time next week baby
I think he's actually done a great job of bailing out on time just before the killer move started...
Hear the music before the song is over ...
  • #153,957
  • Aug 1, 2009 2:02am Aug 1, 2009 2:02am
Quoting direct-trade
Naked Charts, Price Action and Psychology is all you need and makes for successful trading.


Here are a couple of PDF's on trading psychology to browse over this weekend for those on the forum who began to rant and rave, swear and pray during the recent moves.

Happy reading!

Guess i was one the above who is praying all night long. i learn a wonderful lesson this week. Trend is your friend and don't only look at what you wanna see but see what is happening. Blew 30% of my account and now i have to slowly built it back This is my second month as a live trader guess i have survived so far by not going bust.

Thanks Direct Trade will read it up during the weekend. God Bless you.

I shorted at 1.6496 SL 6635 and built up few shorts along the way. that's where the 30% came from. but a well learn lesson). Guess that;s how im composing myself

God bless all of you and take care. Thanks Guys
  • #153,958
  • Aug 1, 2009 2:29am Aug 1, 2009 2:29am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
fib's well respected throughout......
Attached Image (click to enlarge)
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  • #153,959
  • Aug 1, 2009 2:43am Aug 1, 2009 2:43am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
fib's well respected throughout......since, well checkout for yourself.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp_weekly.gif Size: 35 KB
  • #153,960
  • Aug 1, 2009 2:59am Aug 1, 2009 2:59am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Chris, haven't seen your post. Guess all ok with you mate. Always good to have you on the forum.

I am carrying some losses with me. but holding onto them as I think market will come back to take them away from me this month. if not then well I blew it :-)

ams
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