went long at 480.
Cable Update (GBPUSD)
- #157,464
- Aug 12, 2009 5:04pm Aug 12, 2009 5:04pm
- Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
- #157,465
- Aug 12, 2009 5:08pm Aug 12, 2009 5:08pm
- Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
- #157,466
- Aug 12, 2009 5:19pm Aug 12, 2009 5:19pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
That is simple and elegant and correct
If those were the only factors then I would bet on that.... but suppose QE got an economy rolling and lack of QE left another economy stagnant
Then there would be a different result
It's too complex for me, so i will just follow the sqiggly lines on my charts
But mid to long term scenario still hold tho.
- #157,467
- Aug 12, 2009 5:28pm Aug 12, 2009 5:28pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #157,468
- Aug 12, 2009 5:35pm Aug 12, 2009 5:35pm
- Joined Mar 2009 | Status: FX | 3,789 Posts
Veni, Vidi, Vici (We came, we saw, we conquered)
- #157,469
- Aug 12, 2009 5:56pm Aug 12, 2009 5:56pm
- Joined Feb 2006 | Status: Pips Pod... | 1,611 Posts
A shame for les Belgiques !
- #157,471
- Aug 12, 2009 6:06pm Aug 12, 2009 6:06pm
- Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
- #157,472
- Edited 6:50pm Aug 12, 2009 6:38pm | Edited 6:50pm
- | Commercial User | Joined Feb 2008 | 1,440 Posts
Morning guys,
Here's the BEER Plan.
Catch you guys at the London Session
LOL
Last 4h momentum bar is use usualy as resistance, the top of the bucket is the target....
welll
- #157,473
- Aug 12, 2009 7:30pm Aug 12, 2009 7:30pm
- Joined Jun 2007 | Status: As you say Ingles - rich and free | 2,751 Posts
My target is EXACLY at your SL point....
LOL
Last 4h momentum bar is use usualy as resistance, the top of the bucket is the target....
welll
By that time, all the uncertainty will make it feel top heavy again
Predicting a trend change after that, from a trend that has been there since MAY, is brave stuff - by why not
I reckon cable runs out of steam between here and 1.70, and goes to snooze at 1.53 eventually
- #157,474
- Aug 12, 2009 8:30pm Aug 12, 2009 8:30pm
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
The current trend looks a bit bullish, doesn't it?
- #157,476
- Aug 12, 2009 8:51pm Aug 12, 2009 8:51pm
I did say quite clearly that I only made beer money and the others made big money - but she missed that and thought I had made $25k - must be jet lag - I get that for 2 weeks after
When I make $25k in a day on here it will be unmistakeable and it will be 90% luck I am sure of that
I don't give total credence to all the winners nowadays - not since it was disclosed that the guy who lived on a yacht in the bahamas and won big money every day was actually living in a trailer in ohio and losing money on demo
I use about 15 different types of strategies to make my decisions. Like for instance I've posted at least 7 strategies in the trading systems forum. Those amongst others I use on a daily basis.
The important thing is, no matter what the indicators say, it'll be in your best interest to trade the overall sentiment, it took me a long time to get to understand that. Then I found the answer mainly via the candlestick patterns, these are more powerful than any other indicator out there, it shows the real sentiment behind where a current pair will go.
It doesn't take long to learn the patterns, took me about a month to understand at least 20 or so of the patterns, and filtered out the ones that have the highest probability and those that have low probability of reversal or continuance of a trend.
Anyway, it makes me feel better to think that there isnt a huge number of people doing better than me - and giving yourself a comfort thought does no harm at all
So well done the genuine winners and stick with it the losers today, and next time to the break even people and failed hard drives to the remainder!
Believe me, I didn't start off making thousands a day, some days, well, to be honest, I was digging back into my bank account. I think over the first 2-3 years I must of blown about $200K+ or so before I started to make some real cash.
End of the day, just be confident in your decisions and study those patterns, keep on finding a concrete strategy that will help you win a majority of the time.
PM Me If You Need Help!
- #157,477
- Aug 12, 2009 8:55pm Aug 12, 2009 8:55pm
Yup, where ever there is a loss, there's a winner hanging around the corner to poke its head out.
..........Seriously though, I appreciate your loss. Losing is part of winning, accept it and move on, sounds harsh, but is very true.
Learning when not to trade is just as important as trading itself.
PM Me If You Need Help!
- #157,478
- Aug 12, 2009 8:58pm Aug 12, 2009 8:58pm
Trust me, it's not a nice feeling. Not at first any way, when you see your account jumping up and down in 10's of thousand of dollars, it's almost enough to give you cardiac arrest.
I've traded a $9 million account before, and lost a million of it and almost shit myself. Client wasn't happy. But eventually made it back, he bailed out after it hit $10 mil, and all I got was a lousily 7% for my time.
So only trade me own cash now. Sod those tight greedy sods.
I've traded a $9 million account before, and lost a million of it and almost shit myself. Client wasn't happy. But eventually made it back, he bailed out after it hit $10 mil, and all I got was a lousily 7% for my time.
So only trade me own cash now. Sod those tight greedy sods.
I wouldlike to be able to trade a million dollar account one day.
If you risk 2 percent, you can make at least 20k per day!
Very nice corn!
However you may lose it somedays so, be prepared for that too! Lol
PM Me If You Need Help!
