Cable Update (GBPUSD)

Soory mate, but I don't trade EUR.

Thanks Finster, good luck this week

So Poortrader and Pakitrader are the same? Multiple user names...

Edit: Seems you have deleted your "Poortrader" post saying "thanks DT" in reply to my "Sorry, I dont trade EU" just now after realising your mistake.

I am hoping this thing gaps upwards, as that would be a perfect gap trade for me...

We will see.

Que

Good day to you, DT

Very well done....great trading.

Wish you success for the week ahead.

Highest regards

Thankyou TauTrader. Your analysis has been very interesting, always good to see how others think, all the best for this week

Encouraging. Comment appreciated.

... hey girls and guys.

I would say the down will continue. Same by E/U. The economy will now announce a lot of bad news.

In germany begins now a big drop of worker ( temporary worker + craftmans )
I would say the same happens in other countrys too.

When we now look to US Market they make the same like germany. They put money in the automobile market. So they push a little bit the market (firms + supplier).

And when u look @ the chart by E/U a correction is possible. Work with the Fibo than u can follow what happend.

Same here in G/U and when it break more down it will drop more because no support is available. I dont know why so mutch discuss here.

I know im new here but thats not a problem or ¿

Good trads for the next week for u all.

Sry fro possible bad grammer

What I see tonight:

EDIT: Chart should say "14614 Should provide further resistance" and not "14514".

Poortrader and Pakitrader are the same person.

Seems we are having a bout of Schizophrenia on the thread.

This is going to gap upwards.

sorry brother Schizophrenia ???

This was my old ID

Boss started the discusson on EURO.

The Euro is little bit tricky on the daily bars as long as the support of 1.45 is hold it can be sideways. The MACD is showing a cross over but we have to wait for the confirmatin to get short in EURO. IT can be a hook. So we have wait for confirmation. But one thing is sfor sure the Euro is loosing its power. There are no solid body in the rise but we see solid body in the selling candle. something thing fisfhy is in the price movement.

The MACD is also making lower highs and the 55day RSI is still struggling to consolidate near trendline.

As the minor bull pattern is still intact I recomend buy in weakness instead of strength if you are too keen to buy this pair. But i want to remain sideline till i got the confirmation.

East or west we are the best. (Marketsnifer)

So you are the same person, no probs.

Most every trader has experienced some painful losses,
and the majority who survive to trade another day still
lack the necessary tools, character and discipline to truely
be successful long term. They fail to treat this as a business
and do not follow certain essential guidlines. Less than 1%
of all who open a live trading account have what it takes or
are willing to ever develop to the level of the elite trader.

Here's an interesting read found on page #1, post #1 at
the FF James 16 thread.

MINIMUM REQUIREMENT:

http://www.forexfactory.com/showthread.php?t=2331

Don't look at me... admittedly I'm just a casual trader here.

Can we be honest with ourselves. How many of 'us' have
trading habits that resemble this scripture:

Proverbs 26:11

"As a dog returneth to his vomit, so a fool returneth to his folly."

Dr. D.

I disagree. More than 1% have what it takes. They just dont post much.

Good day to you all,

I have deleted my earlier post regarding EU. I realize that it was improper to post such, as Gbp/usd and Gbp/Jpy are discussed here.

I want to kindly ask that others do the same - if you are so inclined.

Will respect this in future

Regards

I brother u r right i follow u.

Well I agree and disagree.

He specifically calls them "elite traders". By standard definition of most industries, the people who would be considered "Elite," "Guru," "Master," "Professor," etc is about 1%. Even in the scholastic community, SAT's, IQ's, Graduate Status, etc... its all about the top 1%.

That definition aside. I do believe the % of people who trade Forex, Commodities, or Stocks profitably is substantially higher than 1%. There are hundreds of thousands of people who "Trade" successfully. The question is, of those how many people do it for a living and have been doing it successfully for over 5 years. Again, I would think this number is a bit higher than 1%.

As I have never seen an official study (And I doubt anyone here has either, or they would post it), this is just speculation. I am reasonably certain, that a large amount of people in an educated society are capable of mastering trading. There are hundreds of jobs out there that are far more stressful, and take far more intelligence than Forex trading.

The problem is with the way Forex has been marketed. It has been marketed by companies such as 4xMadeEasy as a get rich quick scheme. This brings in a lot of uneducated people with limited incomes with the hopes that they will become rich in a year. They effectively get scammed, lose most if not all of their savings and quit the business calling it a scam. This is due to a lack of training and education on the part of leveraged trading. However, I would argue that even these people could be successful at leveraged trading if they were trained properly.

Que