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Cable Update (GBPUSD)

  • #154,001
  • Aug 1, 2009 1:16pm Aug 1, 2009 1:16pm
Quoting GlobalMacro
C'mon guys...don't be so modest...where are we here? after all the hugest most opulent marketplace on earth...Na, Na...anything under AT LEAST 500 pips a day with a stop loss of 5 pips is really a failure...please all go back to your drawing boards...there's no time to waste...
We all measure the world by our own limitations.

Best of luck with your trades.
  • #154,002
  • Aug 1, 2009 1:23pm Aug 1, 2009 1:23pm
Quoting GlobalMacro
C'mon guys...don't be so modest...where are we here? after all the hugest most opulent marketplace on earth...Na, Na...anything under AT LEAST 500 pips a day with a stop loss of 5 pips is really a failure...please all go back to your drawing boards...there's no time to waste...
we all know the truth and how difficult it is to make money in this..i actually think this can be the hardest way to make money in the real world and the easiest for a few exceptions...ego's will always be huge in this game.

its needed as its a zero some game..might as well enjoy it..
  • #154,003
  • Aug 1, 2009 1:27pm Aug 1, 2009 1:27pm
Hi All,

I did my research on monthly/weekly charts with FIB grid and dicovered 2 things.
Over 20 years on this chart GBPUSD spend 14 years below 38.2 Fib and 6 years above, but when she was below only once exeded the 50% in December 2003 -only once in 20 years of history. Secondly, once she took above 38.2 after 13 weeks she came back to 1.6000 level (as an average) Sometimes quicker than 13 weeks she was below 1.6000

Is that mean anything to us?

Just a thought

London Trader

[quote=malcolmb14;2922235]ok thought i would psot this

that move Friday looked odd .. based on some bs comment by IMF.

the 2 hour volume was ultra high and the candle had wide spread

In my world of vsa this is weakness . The pros may well use this strength to sell into .
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Discomfort and profit often stand side by side
  • #154,004
  • Aug 1, 2009 2:31pm Aug 1, 2009 2:31pm
The $ has broken down further as expected,and closed under support...


Quoting Bones
Did break up but is in a downtrend ,above 1.8000 needed for that to change.
BTW this can not be seen on 1 min chart
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #154,005
  • Aug 1, 2009 2:39pm Aug 1, 2009 2:39pm
The weekly show things a bit clearer,the target is 1.7500 area.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #154,006
  • Aug 1, 2009 2:48pm Aug 1, 2009 2:48pm
3 is target

Quoting Bones
3 area is target
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #154,007
  • Aug 1, 2009 3:00pm Aug 1, 2009 3:00pm
3.000/1.7500=1.7142 would seem strange not to meet it.
Attached Image (click to enlarge)
Click to Enlarge Name: 11) gbp-usd ,monthly 1 aug.gif Size: 10 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #154,008
  • Aug 1, 2009 3:28pm Aug 1, 2009 3:28pm
Maybe your are right, maybe not
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  • #154,009
  • Aug 1, 2009 4:16pm Aug 1, 2009 4:16pm
Quoting GlobalMacro
C'mon guys...don't be so modest...where are we here? after all the hugest most opulent marketplace on earth...Na, Na...anything under AT LEAST 500 pips a day with a stop loss of 5 pips is really a failure...please all go back to your drawing boards...there's no time to waste...
rofl .. weak... 200 pips a day only !!!
Blogging daily now at www.volume.zone
  • #154,010
  • Aug 1, 2009 4:19pm Aug 1, 2009 4:19pm
Quoting gammase1
No offence man, but please keep it real on this forum, through writing about what you actually know for certain. I know this may be difficult, given the internet is a natural breedind ground for wild conspiracies that can be entertaining to read, but mostly are sadly loose on facts.

I worked in the interbank market for 13 years, prior to trading for myself, and can state with certainty that you are off-track with your wild theories on GS. I dealt with GS and know many people who still work for them, some of them personal friends. They are good,...
just google goldman sachs and market manipulation ... it is widely known , they were chasing that Russian Guy that stole their software as he could manipulate the market with it. They clearly strated that. And they do not ?

GS does trade 40 % of us stock market .. fact ,..easily found at nasdaq . com on who does the largest trade volume each month

and isn't it GS that is being spanked for manipulating the oil market right now ?

.. and most of fed guys did work for GS.
Blogging daily now at www.volume.zone
  • #154,011
  • Aug 1, 2009 5:07pm Aug 1, 2009 5:07pm
Quoting wormboy
You don't need a prayer to trade. You need a plan.
Losing trades happens from time to time. It's normal.
But blowing 30% of your account is not good. It shows you're undercapitalised & you are abusing the leverage, which will kill you.
I took some heavy hit this month myself but at the end of the month my total loss is about -1%. You can see the last few trades I've logged here:
http://www.forexfactory.com/t/156630/wormhole-1.html
Most of them ended with losses. It happens.
Don't listen to nonsense of making big money trading from...
Quoting malcolmb14
thanks for sharing this ... you only ever see the ones that make money not lose it. I hope you make your 30 % back plus some ..... remember good money management is key in this game. 30 pip a day , 2.5% risk per trade ....2 k can grow to 2.5 mill in 30 months that is the theory. I have learnt not to be to greedy. One of the sayings out there is a trader never went broke taking a profit. The amount of time I have had 25 pip profit in a trade and then market turned on me and hit stop is countless...

I lost 5% on account week before last. I was to...
Sounds like a challenging week & its been tough going for us all, with loses, including myself. The advise given by the 2 guys above is sound for you newbies. The sooner people get rid of the get RICH idea in their head the sooner they will get on the right track.

New month on Monday, re-start your engines.

Enjoy
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #154,012
  • Aug 1, 2009 5:39pm Aug 1, 2009 5:39pm
Bears be a little careful.

Shorts could lose this coming week. I would post a chart and stuff but I am lazy and basic premise is same as this one on the EURO-DOLLAR: http://www.forexfactory.com/showpost...stcount=127486

So I will just buy dips on the four hour chart on Pound-dollar with a small sized short here and there, as I feel both pound-dollar and pound-yen could be shorted tomorrow. But the GBP-Yen would be a safer trade IMHO. In fact GBP-Yen is just sitting there waiting to be plucked for a ride down to sub 1.57is, may be a 1.5675 tomorrow night.
Its all in the mind.
  • #154,013
  • Aug 1, 2009 7:39pm Aug 1, 2009 7:39pm
Swing trading is the best trade i have made for the last month with 2 trade a day using 1hr &4hr chart with +1750pips. My indicator show me where to go with no loss at all (sell at top & buy at bottom) But last friday i have made my just a little fault.. dam i loss -200pip and now = 1550pips. Well i made fault at 1.6522 area with short. From that area i buy long with full lock position. Just what i have to do is when 1.6715 go down i will put another sell to cover my losess at 1.6522 and see how far it go down and buy back long. That means my -200pips will much less then.

I dont know why last friday my indi cannot detact it with that huge pips comming up.
GELORE
  • #154,014
  • Aug 1, 2009 8:29pm Aug 1, 2009 8:29pm
Quoting musani
Swing trading is the best trade i have made for the last month with 2 trade a day using 1hr &4hr chart with +1750pips. My indicator show me where to go with no loss at all (sell at top & buy at bottom) But last friday i have made my just a little fault.. dam i loss -200pip and now = 1550pips. Well i made fault...
because if you think about it in reality indicators DO NOT work. its just simple as that
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #154,015
  • Edited 9:43pm Aug 1, 2009 9:06pm | Edited 9:43pm
Quoting malcolmb14
rofl .. weak... 200 pips a day only !!!
Hi Malcomb,

I noticed you were trading the GY last Thursday during the Asia session, the same time I was. It was ranging very nicely between 155.3 and 156.3. If you had taken the safer setups you saw, it was in the neighborhood of 300 pips TP.

I'm curious, how many trades did you actually take during that session?

I've held off on quite a few good trades on the lower time frames recently. I've been overly cautious this month because I'm testing a new method. The shortcoming I've had has been more about doubt pulling the trigger than unrealistic expectations about getting rich. So, I need to face this and test my method completely on a dedicated live account.

I don't see being consistent or staying in the black as "weak" even if it's a lower number of pips than you make daily. We all need to trade at our OWN comfort level and I'm not doing this to prove anything to anyone. I set 200 pips as my daily milestone because that will force me to aggresively bench test the system. But honestly, I would be very happy with half of that.

Anyway, I replied to Turvyd to discuss trading the 1M, not to make some ridiculous boast. I thought it would be fun to have someone to chat with who's trading the same sessions on the same time frame.

Let's see how this week turns out.

Good luck with your trades.
  • #154,016
  • Aug 2, 2009 12:02am Aug 2, 2009 12:02am
Quoting Bones
3.000/1.7500=1.7142 would seem strange not to meet it.
thats the target area i have in mind bro! ..fantastic analysis..
  • #154,017
  • Aug 2, 2009 12:08am Aug 2, 2009 12:08am
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!
some of these stuff I read a long, long time ago...it's amazing how through the years one gains new perspectives...thanks for sharing...it's very refreshing.
Hear the music before the song is over ...
  • #154,018
  • Edited 12:49am Aug 2, 2009 12:34am | Edited 12:49am
Quoting malcolmb14
just google goldman sachs and market manipulation ... it is widely known , they were chasing that Russian Guy that stole their software as he could manipulate the market with it. They clearly strated that. And they do not ?

GS does trade 40 % of us stock market .. fact ,..easily found at nasdaq . com on who does the largest trade volume each month

and isn't it GS that is being spanked for manipulating the oil market right now ?

.. and most of fed guys did work for GS.
Come on Malc, I expect a little more accuracy from you, rather than this...

The poster made a wild accusation that GS were behind Cable's big move on Friday. This is complete and utter fantasiful, conspiratorial nonsense, as well you know?? It shows a complete lack of understanding behind the true dynamics of the gigantial FX market. Still, it makes a better internet tale to think of some anonymous GS trader sitting behind his desk with an evil plan laugh, screwing the decent guys on this forum who trade Cable.

If GS traders had any sense, they would have aggressively played the longside break in Cable on Friday, as would ANY retail trader or professional investor who was willing to accept what was clearly happening in front of their eyes, rather than stubbornly cling to any opposing view. But to come on here 24 hours later, blaming GS for the move? Well, I guess it's easier to blame them, or someone else, rather than him taking responsibility for his losses.

In order to back up this unsubstantiated claim, he then reeled off the usual half-baked facts, unrelated news, and internet gossip in the vein hope of adding some credence.
  • #154,019
  • Aug 2, 2009 2:42am Aug 2, 2009 2:42am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
gammase1,
No offence taken.


So, you are a guy with 10 vouches, member since june 2008. Claiming to have worked for interbank market for 13 years and have dealt with GS and have lots of freinds who are "damn good", right?

ME, I am a man with closed fist, and I love it tight.

I don't give hoots writing about anyone I feel like. Are you trying to threaten me / people on this forum??

OK, let's get to the point, I want to see some entertainment for people on this forum.

Since you seem to know "all about GS" (that's your claim and proven by threatning us indirectly).

1. Tell me what's the recrutiment process of GS?
2. What kind of bonuses do they offer, and why?

You know the funny part? All this information is available on the net and if there are any gaps I find in your answers, I will fill them for you :-)










Quoting gammase1
No offence man, but please keep it real on this forum, through writing about what you actually know for certain. I know this may be difficult, given the internet is a natural breedind ground for wild conspiracies that can be entertaining to read, but mostly are sadly loose on facts.

I worked in the interbank market for 13 years, prior to trading for myself, and can state with certainty that you are off-track with your wild theories on GS. I dealt with GS and know many people who still work for them, some of them personal friends. They are good,...
  • #154,020
  • Aug 2, 2009 2:53am Aug 2, 2009 2:53am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
You are truelly a GS fan, aren't you?

Ok, Now it's my turn, and I am asking you questions:

IYO if I am reiterating the facts, what proof you have they are not culprits, Prove it??
If you can't, then sit in a tight corner somewhere and stop defending and arguing about something you cannot do anything about. All you can do is reiterate the facts they published somewhere, like me, isn't it??

I expected better then this from you as well.


READ MY POSTS, I said I will keep my positions until I want to or when retrace happens.

Losses aren't losses until positions are closed, don't you understand that after working in the market for 13 years and having so many good friends? LOL

All I said was reiterated the facts which were published in newspapers, websites etc. The same thing now you will do to answer my question OR may be not if you want to save your dignity on this forum.

I am NOT blaming someone for my losses. I am totally reposnsible for myself.



Quoting gammase1
Come on Malc, I expect a little more accuracy from you, rather than this...

The poster made a wild accusation that GS were behind Cable's big move on Friday. This is complete and utter fantasiful, conspiratorial nonsense, as well you know?? It shows a complete lack of understanding behind the true dynamics of the gigantial FX market. Still, it makes a better internet tale to think of some anonymous GS trader sitting behind his desk with an evil plan laugh, screwing the decent guys on this forum who trade Cable.

If GS traders had any sense,...
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