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Cable Update (GBPUSD)

  • #157,461
  • Aug 12, 2009 2:38pm Aug 12, 2009 2:38pm
went long at 480.
  • #157,462
  • Aug 12, 2009 2:52pm Aug 12, 2009 2:52pm
Logically, when BOE implements quantitative easing (QE) and FED is gradually taking out QE. The GU should be bearish in the mid to long term.
  • #157,463
  • Aug 12, 2009 2:52pm Aug 12, 2009 2:52pm
Quote
i did not make big pips today at all . Just 40 . That is all i aim for per day , some days it comes easy and some days i start with a losing trade and am digging myself out of hole all day to get back to break even .

Do you usually quit for the day once you hit your 40 pips, Mal?
Perhaps I should take that advice and not overtrade (aka... loose my winnings)
  • #157,464
  • Aug 12, 2009 3:04pm Aug 12, 2009 3:04pm
Quoting malcolmb14
lol ... really .. that happened ?

i did not make big pips today at all . Just 40 . That is all i aim for per day , some days it comes easy and some days i start with a losing trade and am digging myself out of hole all day to get back to break even .
yep he got banned from this site - he was traced by his ip address - he was probably some spotty kid running windows 98 and writing emails to victoria beckham asking for a date

I am sure that there are a lot of really good technical analysts here and they make money a lot of the time. But even the best get caned every so often when they get too enthused

Every time you read 10 posts all saying that they are off to buy champagne etc, believe that some are fantasists - it helps
I can hardly believe I made big bucks just moving cash to england and back - wish I knew what i had done right and then i could do it again. I think 6600 on the DOW looked daft and so did 1.36 or whatever on cable - sometimes you have to say it looks daft and back your judgement

People who did, increased their investments 50% recently
  • #157,465
  • Aug 12, 2009 3:08pm Aug 12, 2009 3:08pm
Quoting mktjong
Logically, when BOE implements quantitative easing (QE) and FED is gradually taking out QE. The GU should be bearish in the mid to long term.
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
  • #157,466
  • Aug 12, 2009 3:19pm Aug 12, 2009 3:19pm
Quoting allserene
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
Agreed, so many factors involved including big dogs' appetite
But mid to long term scenario still hold tho.
  • #157,467
  • Aug 12, 2009 3:28pm Aug 12, 2009 3:28pm
Quoting woodlybog
Do you usually quit for the day once you hit your 40 pips, Mal?
Perhaps I should take that advice and not overtrade (aka... loose my winnings)

typically i do . To often i have been up 50 pips and then give that 50 back plus 50 more. One thing i have learned over the years is to not over trade and be happy with small wins but very often .
Blogging daily now at www.volume.zone
  • #157,468
  • Aug 12, 2009 3:35pm Aug 12, 2009 3:35pm
Morning guys,

Here's the BEER Plan.

Catch you guys at the London Session
Attached Image (click to enlarge)
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #157,469
  • Aug 12, 2009 3:56pm Aug 12, 2009 3:56pm
Quoting allserene
A shame for les Belgiques !
Fricadelle please :-)
  • #157,470
  • Aug 12, 2009 4:00pm Aug 12, 2009 4:00pm
Quoting Bull_Bear
Morning guys,

Here's the BEER Plan.

Catch you guys at the London Session
nice....
  • #157,471
  • Aug 12, 2009 4:06pm Aug 12, 2009 4:06pm
Flicking onto the daily chart - cable hasnt gone anwhere since MAY

Long term strategic position bods (like me) are standing still

Traders are the only ones in the game

If it goes back to 1.70 I will bring some gbp to the US. Having got to that level once , I reckon it should retest before shrivelling up
  • #157,472
  • Edited 4:50pm Aug 12, 2009 4:38pm | Edited 4:50pm
Quoting Bull_Bear
Morning guys,

Here's the BEER Plan.

Catch you guys at the London Session
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
Attached Image (click to enlarge)
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  • #157,473
  • Aug 12, 2009 5:30pm Aug 12, 2009 5:30pm
Quoting Inzider
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
Looks sensible - with so much covered ground above where we are now - some foray (ok retest) into that area has to be expected

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 6:30pm Aug 12, 2009 6:30pm
The current trend looks a bit bullish, doesn't it?
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  • #157,475
  • Aug 12, 2009 6:43pm Aug 12, 2009 6:43pm
Quoting allserene
Looks sensible - with so much covered ground above where we are now - some foray (ok retest) into that area has to be expected

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 bup either on that side. etween here and 1.70, and goes to snooze at 1.53 eventually
I agree, i don't expect more shoot up from 1.67XX.

Looking at DOW droping from 38.2 fibs, i dont expect more shoot up from equities either. I'll be aware about next move to get a clue.

I doubt about a new top on any of those... 1.60 is the "logical" target after 1.6700

Let's see, i could be totaly wrong.
  • #157,476
  • Aug 12, 2009 6:51pm Aug 12, 2009 6:51pm
Quoting allserene
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
Do ya? I've never got yet lag before. Mind you, I'm a bit of a night owl, so no matter where in the world I go, I'm still alert.

Quoting allserene
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.

Quoting allserene
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!
I've been trading for 10 years, almost 11 years next year Feb.

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 6:55pm Aug 12, 2009 6:55pm
Yup, where ever there is a loss, there's a winner hanging around the corner to poke its head out.

Quoting direct-trade
..........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 6:58pm Aug 12, 2009 6:58pm
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.

Quoting alex1976
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!
  • #157,479
  • Aug 12, 2009 7:00pm Aug 12, 2009 7:00pm
Quoting BobHall
Do ya? I've never got yet lag before. Mind you, I'm a bit of a night owl, so no matter where in the world I go, I'm still alert.




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...
Im agree with you, for this moment i use only candlestick pattern, ususally i look at H1 the tendancy, and i trade in the same way according to the candle.
Trade with the momentum
  • #157,480
  • Aug 12, 2009 7:00pm Aug 12, 2009 7:00pm
Quoting allserene
he was probably some spotty kid running windows 98 and writing emails to victoria beckham asking for a date
I went to the same School as her.
PM Me If You Need Help!
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