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Cable Update (GBPUSD)

  • #169,661
  • Sep 26, 2009 11:18pm Sep 26, 2009 11:18pm
Further to the above....

The current GBP/USD price quote is 1.6014 and GBP/JPY is 143.76 - do not know if this is the highest it has been, but just mentioning current quote. Let us see what happens tomorrow / when market opens.....

Please, this is just an observation that I want to follow. Not any information of substance to make any trading decision on. It was just interesting to see, and will be interesting to watch..

wish you a good week ahead

my highest regards
  • #169,662
  • Sep 26, 2009 11:56pm Sep 26, 2009 11:56pm
lets see if this break of the trendline on the daily sustains if it does boy we could see more downside in cable
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  • #169,663
  • Sep 27, 2009 1:35am Sep 27, 2009 1:35am
Quoting bksujal
lets see if this break of the trendline on the daily sustains if it does boy we could see more downside in cable
i dont understand why some peole on there dailly close have a small body..mine is very bearish.....very strange
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  • #169,664
  • Sep 27, 2009 1:49am Sep 27, 2009 1:49am
Different broker has different starting time of each day.
  • #169,665
  • Edited 4:00am Sep 27, 2009 1:55am | Edited 4:00am
Quoting isguru
Malcomb,...
well im not malc but he isnt a signal service so he dont need to do anything in terms of his analysis, he cant tell the future either but he can give a direction and he did this.....

u think the market is predictable and about forecasting....then u need to rethink, if people follow his analysis as gospel thats there businness and malc shouldnt be made to feel guility cause it took so long to get here....that is very unfair.

I hate post like this!!.......we post because we are taking responsibility for our trade and if it an help fellow members, then great hence the post we are not taking the responsibility for u taking it as a trade call...that is your job!!!

Malc u keep doing what u do we apprecaite u for your efforts

for all u hater out there: dont hate the playerz hate the game
  • #169,666
  • Sep 27, 2009 2:40am Sep 27, 2009 2:40am
This week in GBP/JPY:
2 last min friday took it from 142,70 to 143,00 area and after trade closed in 143,157(bid).

Trading plan - open and to wednesday (asian session/start london session):
going to 145,55 area and drop (see trendlines in chart), hope we will open lower than the close . If you follow these trendlines I will update with a monthly chart were it looks like in october we will test 147,50 area (should be a slow month)
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Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #169,667
  • Sep 27, 2009 3:44am Sep 27, 2009 3:44am
Quoting nAVIN2007
nice one bro!....it is a beauty huh
the longer i am into forex, the more i realise cable is the real deal
after fighting with the dragon, cable seems so relaxed, but im not done with it either
...and its pleasant to see some in this thread refer to the euro as a bitch
Invincibility lies in the defence, the possibility of victory in the attack
  • #169,668
  • Sep 27, 2009 3:59am Sep 27, 2009 3:59am
Hello Navin

I don't hate Malcomb and that's why I said he is a good trader, but when he give dates when something is goiing to happen - like September 15th - new traders who respect him take action based on the respect they have for him it can cause trouble.
Letme tell you story. I start trading a few months back trying to make my kids school fees. I had a position open, when Malcomb said on a date 8t was going to fall to a certain point,I close the positon, lost a lot of money.
When DirectTrade talkedabout the cup and handle formation, opened another position, lost a lot of money.
With only half my kids school fees left and my wife on my back, the good thing is this has taughed me to read and learn my chart and trademy own trade, but this has not taught me to HATE any of the traders, which is why I sayd in my post that I respect all thosetraders including Malcomb and DirectTrade and still sit uo and listen when they post - but I just don't think it's good to post specific dates as the market is unpredicatable that's all. Out of the respect new traders havefor those traders mentioned, some WILL follow their lead whatever you say, that's why you have learning mentors. I've got a lot of respect for teh traders mentioned and dont hate them trust me.
Thank you.

Malcomb, no offence meant, please confirm no offence taken- I do think your good - honest

Quoting nAVIN2007
well im not malc but he isnt a signal service so he dont need to do anything in terms of his analysis, he cant tell the future either but he can give a direction and he did this.....

u think the market is predictable....then u need to rethink, if people follow his analysis as gospel thats there businness and malc shouldnt be made to feel guility cause it took so long to get here....that is very unfair.

I hate post like this!!.......we post because we are taking responsibility for our trade and if it an help fellow members, then great hence the...
  • #169,669
  • Sep 27, 2009 4:03am Sep 27, 2009 4:03am
Quoting silverheat
the longer i am into forex, the more i realise cable is the real deal
after fighting with the dragon, cable seems so relaxed, but im not done with it either
...and its pleasant to see some in this thread refer to the euro as a bitch
cable ranges a hell of a lot, dragon i think is a good one but u have to be on the right side otherwise it will just blow u away..eur is definately a b*tch!!

and she aint listening
  • #169,670
  • Sep 27, 2009 4:14am Sep 27, 2009 4:14am
Quoting isguru
Hello Navin

I don't hate Malcomb and that's why I said he is a good trader, but when he give dates when something is goiing to happen - like September 15th - new traders who respect him take action based on the respect they have for him it can cause trouble.
Letme tell you story....

Im sorry about the school fees buddy..
I dont know what else to say......hope u make it all back!!
  • #169,671
  • Sep 27, 2009 5:09am Sep 27, 2009 5:09am
Quoting isguru
but when he give dates when something is goiing to happen - like September 15th - new traders who respect him take action based on the respect they have for him it can cause trouble.
then its their fault not his

you made the decision, its your money after all, so you are responsible for it.
Invincibility lies in the defence, the possibility of victory in the attack
  • #169,672
  • Sep 27, 2009 5:35am Sep 27, 2009 5:35am
Hi

I'm not talking about who's at 'fault' here, I'm saying Malcomb is a respected trader, aned if he gives dates yes it might be the 'fault' of the newbies that follow him - and I am a fan of Malcomb and indeed Navin as I follow his posts too- but it would still be better if he or any other trader doesn't give specifc dates. If he says sometime in October cables fallng to 1.5000, that's better than sayng on October `1st its falling to 1.5000. Even if he continues to give dates, he is stilla good trader in my view.
Plius I'm clear its my responsibility if I lose a trade, so get of my back as Im not blamng Malcomb in any way or saying he's responsible for my loss or anyone elses okay.
I do, hh9owver often recommend the traders I listed in my orignal post to newbies as the ones to take their posts seriously i.e. Directtrade, BullBear, Albchr, GlobalMacro, and Malcomb and indeed Navin, and I have due regard for their posts - while I am learning everyday too. So I'm not saying Malcomb is bad, not saying I hate him, just offering some advice as hes one of my mentors.

Quoting silverheat
then its their fault not his

you made the decision, its your money after all, so you are responsible for it.
  • #169,673
  • Sep 27, 2009 5:47am Sep 27, 2009 5:47am
The money you've lost may well prove to be a lesson well learned...

a. Never follow tips/posts of traders that you do not know/know of their track record, particularly if they think they can predict future price movemnet with the degre of certainty that some on here do..they can't...and nor can you or I or anyone. A lot of posts here are ego driven, people wanting to be right impressing their peers, ..it doesn't matter if you are right or wrong, it matters what your money management is around your trading edge.
b. Develop your own trading edge and recognise that a trading edge is just a higher probability of one thing happening over another. Optimise money managemnet to that trading edge such that it produces a gain over a samnple of times it sets up.
c. Understand no-one knows what will happen next, and you don't have to, you just play your trading edge.

G/L in the future.


Quoting isguru
Hi

I'm not talking about who's at 'fault' here, I'm saying Malcomb is a respected trader, aned if he gives dates yes it might be the 'fault' of the newbies that follow him - and I am a fan of Malcomb and indeed Navin as I follow his posts too- but it would still be better if he or any other trader doesn't give specifc dates. If he says sometime in October cables fallng to 1.5000, that's better than sayng on October `1st its falling to 1.5000. Even if he continues to give dates, he is stilla good trader in my view.
Plius I'm clear its my responsibility...
ex member
  • #169,674
  • Sep 27, 2009 5:55am Sep 27, 2009 5:55am
Quoting isguru
Hello Navin

I don't hate Malcomb and that's why I said he is a good trader, but when he give dates when something is goiing to happen - like September 15th - new traders who respect him take action based on the respect they have for him it can cause trouble.
Letme tell you story. I start trading a few months back trying to make my kids school fees. I had a position open, when Malcomb said on a date 8t was going to fall to a certain point,I close the positon, lost a lot of money.
When DirectTrade talkedabout the cup and handle formation, opened...
But why did yo risk your kids school fees....?....trading currency is a high risk business....especially if you dont have the experience and knowledge of Money Management....
  • #169,675
  • Sep 27, 2009 6:05am Sep 27, 2009 6:05am
Thanks so much, this is the best advice Ive had to the post so far, and I agree with you - I had a trading plan written down and one strategy I had was never to buywhen cable gets to a certain amount, but I had anopen sell position i forget to put a stop loss on so I left it to run beli8evng it wld go back there at some point, then when someone said it would go to 1.8x I had to buyy above the point I said I'd never buy at to hedge, then cable started going down again so I got stuck btwn 2 positions.
Again, please I'm not blaming anyone and I am learning very FAST even with the speculation provided by these traders, because I am now getting to understand WHY they reckon it might get to a certain point, now I have learnt that, despite the why's there is no certainty.

Someone says why risk my kds school fees, because I don't have enough and Im trying to make enough for them and I know I will if I go back to my 'trading edge' as you have put it and also manage my money properly.

Thank you once again for taking the time to reply. I apprecate you all.

Quoting bbmac
The money you've lost may well prove to be a lesson well learned...

a. Never follow tips/posts of traders that you do not know/know of their track record, particularly if they think they can predict future price movemnet with the degre of certainty that some on here do..they can't...and nor can you or I or anyone. A lot of posts here are ego driven, people wanting to be right impressing their peers, ..it doesn't matter if you are right or wrong, it matters what your money management is around your trading edge.
b. Develop your own trading edge...
  • #169,676
  • Sep 27, 2009 6:23am Sep 27, 2009 6:23am
This is where I see cable.... 1.5860 is strong support, I will look to buy cable for a retrace to 1.6170.

See you guys on Monday
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Veni, Vidi, Vici (We came, we saw, we conquered)
  • #169,677
  • Sep 27, 2009 6:28am Sep 27, 2009 6:28am
Please indulge me... (non-trading related)

Please visit this thread
Help needed.
Thank you!
  • #169,678
  • Sep 27, 2009 6:35am Sep 27, 2009 6:35am
Quoting sherazali
[font=Calibri]Hi,

Short Scenario:

Entry strategy: 1.5950 to 1.1650 with SL 1.6500 TP 1.51 (1 to 2 weeks)

[size=3][color=black][font=Verdana]Today, I am discussing the fall of the cable. The cable is at very interesting turning point. The cable is going to make a downward move of at least 1000 pip. So bear keep intact and hold your positions. This week is very interesting...
whats your cad scenario sir?
thanks

ali haydar
  • #169,679
  • Sep 27, 2009 8:04am Sep 27, 2009 8:04am
Quoting Hell7
A few weeks ago I posted a new pitchfork on the daily chart, and it's time for an update as I shorted the top earlier today for a swing trade

Chart on my blog
Still short, still loving it! Updated charts on my blog
  • #169,680
  • Sep 27, 2009 8:32am Sep 27, 2009 8:32am
Quoting riko2705
whats your cad scenario sir?
thanks

ali haydar
Thank Haider i will post the same. But i believe that every body is sleeping at this blog or thread i have not received any critics up till yet.
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