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Cable Update (GBPUSD)

  • #162,901
  • Sep 2, 2009 2:13pm Sep 2, 2009 2:13pm
veeeery short on the daily imo ... see chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 32 KB
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #162,902
  • Sep 2, 2009 2:17pm Sep 2, 2009 2:17pm
Quoting Slight
veeeery short on the daily imo ... see chart.
the crosses are widening. Nice
btw, wouldn't the slow ma (blue) be a better stoploss point? Just asking ..
Thank You
  • #162,903
  • Sep 2, 2009 2:24pm Sep 2, 2009 2:24pm
Quoting annieb
JamesCZ B/e is on loss no gain (break even) have you read thr no brainer thread? It is really good at explaining support and resistance, (supply and demand) also lots of other info, there is a Pdf thats worth its weight in gold.

cheers
Thanks, where can I find this thread?
-- There's no winner without lose --
  • #162,904
  • Sep 2, 2009 2:27pm Sep 2, 2009 2:27pm
wormboy, sl is very close in this case, but that's a plus imo. If price goes beyond my sl (which is above the last fractal) this short is not so much short anymore imo.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #162,905
  • Sep 2, 2009 2:33pm Sep 2, 2009 2:33pm
No Brainer Trades
james cz - the thread is on the same page as cable - interactive trading, its called no brainer trades - the member started the thread is billy ray valentine - I would provide link if I knew how...cheers
  • #162,906
  • Sep 2, 2009 2:38pm Sep 2, 2009 2:38pm
FOMC Minutes:

FOMC Members discussed curtailing purchases of MBS.
Also they dicussed including MBS backed by adjustable-rate mortgages to cut the spreads between ARM rates and yield on securities with similar terms. No final decision was made though.
Inflation expectations were unchanged.
New definitions by BEA is apparently making it difficult to interpret core PCE data, but core PCE inflation is still expected to slow.
FOMC decided to keep its key interest rate unchanged in view of subdued inflation, modest economic recovery, and substantial resource slack.
Hear the music before the song is over ...
  • #162,907
  • Sep 2, 2009 2:39pm Sep 2, 2009 2:39pm
Quoting Slight
wormboy, sl is very close in this case, but that's a plus imo. If price goes beyond my sl (which is above the last fractal) this short is not so much short anymore imo.
Thanks Slight.
Just asked because I thought you pulled this trade off the daily & with ma crosses usually stops are placed at the slow. Never worked with fractal, I got confused. Thanks again for explaining.
Good luck with your trade
Thank You
  • #162,908
  • Sep 2, 2009 2:41pm Sep 2, 2009 2:41pm
Quoting annieb
No Brainer Trades
james cz - the thread is on the same page as cable - interactive trading, its called no brainer trades - the member started the thread is billy ray valentine - I would provide link if I knew how...cheers
Okay, I'll take a look there. I just closed that bloody position, with loose, but not so big as it was. And now I'll trade very careful, maybe only one position per day, but really good and prepared.
-- There's no winner without lose --
  • #162,909
  • Sep 2, 2009 2:51pm Sep 2, 2009 2:51pm
Quoting wormboy
Thanks Slight.
Just asked because I thought you pulled this trade off the daily & with ma crosses usually stops are placed at the slow. Never worked with fractal, I got confused. Thanks again for explaining.
Good luck with your trade
It is a trade off of the daily. I would usually stop out when price closes above the green line. But I keep the stops as tight as possible. Let's see if it isn't too tight in this case. But I never put the stop neither at the red or blue line ... usually too far away for my taste.
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #162,910
  • Sep 2, 2009 2:57pm Sep 2, 2009 2:57pm
Quoting wormboy
I'm still selling this sucker. 6380 is where I stop attempting short positions.
Good luck fellas.
i sold the sucker as well...im the same i just cant understand why the biatch came back up..i will try again...
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 29 KB
  • #162,911
  • Sep 2, 2009 3:09pm Sep 2, 2009 3:09pm
Quoting nAVIN2007
i sold the sucker as well...im the same i just cant understand why the biatch came back up..i will try again...

Dude, stop trying to predict what the markets about to do, stop second guessing it, trade what it's doing, it's IMPOSSIBLE TO PREDICT!!!

The best you / anyone can do is see a vague direction and jump on it, it might move 4pips or 400pips there is no way to tell.

GU Currently is turning down, waiting for Asia for a EJ trade pick the direction at Asia's open working well recently.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #162,912
  • Sep 2, 2009 3:14pm Sep 2, 2009 3:14pm
Quoting Turveyd
Dude, stop trying to predict what the markets about to do, stop second guessing it, trade what it's doing, it's IMPOSSIBLE TO PREDICT!!!

The best you / anyone can do is see a vague direction and jump on it, it might move 4pips or 400pips there is no way to tell.

GU Currently is turning down, waiting for Asia for a EJ trade pick the direction at Asia's open working well recently.
does this look like a prediction...
i dont guess, im not a gambler, but i do enter when i think theres an opportunity....i dot expect to be right always but i play the game with probability in mind..
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 27 KB
  • #162,913
  • Sep 2, 2009 3:14pm Sep 2, 2009 3:14pm
Quoting Turveyd
Dude, stop trying to predict what the markets about to do, stop second guessing it, trade what it's doing, it's IMPOSSIBLE TO PREDICT!!!
Absolutely! That is probably why most of all people lose. However, read about that in books or other threads here on ff. Controlling your psychology is the key to successful trading plus an exact trading system.

navin, he probably meant that there's no reason to try to understand why the pair came up today again. doesn't really matter you know .. it fluctuates, that's a characteristic of price movement... that's it. Nothing to really understand. Just follow your system and let the market do the rest.
(No offence to your trading or whatever, I haven't seen much of what you do/did in order to judge!)
The Essentials of Trading: Emotions, Risk Mgt, Price.
  • #162,914
  • Sep 2, 2009 3:23pm Sep 2, 2009 3:23pm
Quoting Slight
Absolutely! That is probably why most of all people lose. However, read about that in books or other threads here on ff. Controlling your psychology is the key to successful trading plus an exact trading system.

navin, he probably meant that there's no reason to try to understand why the pair came up today again. doesn't really matter you know .. it fluctuates, that's a characteristic of price movement... that's it. Nothing to really understand. Just follow your system and let the market do the rest.
(No offence to your trading or whatever, I haven't...
yur right ...i dont think about where the market is going generally i just go with it...but im surprised it came up this much especially after yesterday volume..i will give it a retrace target and take it from there..
  • #162,915
  • Sep 2, 2009 3:37pm Sep 2, 2009 3:37pm
i will be short the cable in the next few hours. i expect it to go gown.
  • #162,916
  • Sep 2, 2009 3:46pm Sep 2, 2009 3:46pm
Quoting nAVIN2007
cant complain bro...im doing almost better than on the demo...i dont know what happened to the emotion...it like i switched them off.....its great, no stress.....good shit!
Hey man! That's a big step forward. Congrats...relax and prosper
  • #162,917
  • Sep 2, 2009 5:34pm Sep 2, 2009 5:34pm
I just went long.

Take my chances.

Say 60 to 65%?
  • #162,918
  • Sep 2, 2009 5:42pm Sep 2, 2009 5:42pm
Quoting nAVIN2007
yur right ...i dont think about where the market is going generally i just go with it...but im surprised it came up this much especially after yesterday volume..i will give it a retrace target and take it from there..

Nav, do you mean your looking for retracement point to go long?
  • #162,919
  • Sep 2, 2009 5:54pm Sep 2, 2009 5:54pm
Quoting alex1976
I just went long.

Take my chances.

Say 60 to 65%?
those are pretty accurate percentage predictions: how did you come to them?
Probability Professor
  • #162,920
  • Sep 2, 2009 6:39pm Sep 2, 2009 6:39pm
Quoting Galation
those are pretty accurate percentage predictions: how did you come to them?

Backtested the market for about a year using a certain system Ive been working on.

Ive found that this is usually the best one can get with a good system.

Although I haven't really implemented it yet, I have realized, unless you are totally consistent in your approach or system application, you wont get consistent win to loss percentages.
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