Cable Update (GBPUSD) | Page 9064 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #181,261
  • Nov 6, 2009 5:15am Nov 6, 2009 5:15am
Quoting egkid
Anyone think about sell 1.66?
I see no valid trades between 1.6580 and 1.6624.
The only logical trades that are available are:

Long at 1.6580 with a short stop at 1.6555
Short at 1.6630 with a short stop at 1.6645

Other than that you must be joking no point getting involved in congestion.

Where is Azim,Bull Bear,DT,chris.......hmm plotting somat somewhere are we lol
Let Price determine your future!
  • #181,262
  • Nov 6, 2009 5:16am Nov 6, 2009 5:16am
Congrats Tau , you said all......just....a remark.....it's FORTUNATELY and not unfortunately humans are emotional......but you know it.....it's just about controlling our emotions...

Could write a book.....lol
Non licet omnibus adire Corinthum
  • #181,263
  • Nov 6, 2009 5:17am Nov 6, 2009 5:17am
I like it, very nice post better than posting prediction, analysis, and stuff like that. I think you're the wisest person here. Keep on rockin..

Quoting TauTrader
Good day to you all,

Hope things are progressing. Here is something to read:

There are 2 kinds of traders. Those who have experienced a trading slump, and those who will. Any experienced trader who says he's never been through a slump is a liar. The majority of good traders have gone through flat periods at some point in their career. Many slumps have a psychological reason behind them. Your belief and confidence in yourself are going to be your main tools in pulling yourself out of a slump. Let's say you've found a trading method that works...
  • #181,264
  • Nov 6, 2009 5:19am Nov 6, 2009 5:19am
all in the charts.

close above the inv shampoo neckline we're likely see 8000.
but that won't be today. but reaction around nfp release later will give a pretty clear idea whether the long term trend stays bearish or tilts bullish.

Good luck.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cable.JPG Size: 52 KB
Click to Enlarge Name: cablea.JPG Size: 77 KB
Thank You
  • #181,265
  • Nov 6, 2009 5:21am Nov 6, 2009 5:21am
Tau Trader, good stuff as always.
You have my vote of confidence. Keep it up brother
Thank You
  • #181,266
  • Nov 6, 2009 5:25am Nov 6, 2009 5:25am
A little something to share with the new guys :
http://www.forexfactory.com/showpost...postcount=3741
Thank You
  • #181,267
  • Nov 6, 2009 5:28am Nov 6, 2009 5:28am
If NFP is good USD/CAD will be best oppertunity to trade..
this is what i will DO..

Happy pips to all


Choose.Wisely
Don't compare your Trades with Others
  • #181,268
  • Nov 6, 2009 5:29am Nov 6, 2009 5:29am
Quoting javajames
Congrats Tau , you said all......just....a remark.....it's FORTUNATELY and not unfortunately humans are emotional......but you know it.....it's just about controlling our emotions...

Could write a book.....lol
Good day to you,

I can unfortunately not take full credit... I take pieces written by experienced people to achieve positive influence in my life, and share this with whoever wants to read.

I wish you health, wealth and happiness

Regards
  • #181,269
  • Nov 6, 2009 5:29am Nov 6, 2009 5:29am
eagerly waiting to make 50-100pips during NFP.........
  • #181,270
  • Nov 6, 2009 5:30am Nov 6, 2009 5:30am
Quoting DubaiFX
If NFP is good USD/CAD will be best oppertunity to trade..
this is what i will DO..

Happy pips to all


Choose.Wisely
Sold EUR/USD also just a min ago
NFp may hit me hard enough but i have good money management so no worries folks..

Choose.Wisely
Don't compare your Trades with Others
  • #181,271
  • Nov 6, 2009 5:30am Nov 6, 2009 5:30am
Hi,
I have already closed 2 of my postions with a small profit. Waiting for the right moment to close the rest. I hope I can close all of them before nfp release.
Would you suggest opening any positions now that you know my situation?
Quoting Geppyg
Hi Mate,

I have advised you already on exactly what to do...matey...
Hopefully this has helped you clear all your long positions at break even or what little profit you may get...also close half your short lots at 1.6560 or there abouts if we get there minimize your risk.... Stops in play are at 1.6740 that is it...

Good Luck
GeppyG
  • #181,272
  • Nov 6, 2009 5:33am Nov 6, 2009 5:33am
Good points above ^ .... another thing is the herd mentally many new traders suffer from. Although the forums are essential for many traders to converse about something similar, a lot mistake it as a "hobbiests hangout". Ill admit its decent having a place to talk about something that someone else finds interesting.

We become too complacent on the words and pictures of others: in any event my advice to the trader in trouble or future newcomers is JUST BECAUSE EVERYONE IS LONG/SHORT A CERTAIN PAIR, DO NOT, I REPEAT DO NOT FOLLOW SUIT, you will get burnt.

Trade as a group and loose as a group.

But then again i love crowds and herds, its how i trade - short term at least... i watch the herd/idiots/emotional traders run up a price relentlessly and I just wait as long as i can to profit on their fear of it coming down atop them.

Panic buying leads to panic selling.


As a poster mentioned above, any real trader has had his fair share of troubles/down days... etc.

I for one have, even though I'm relatively young (21) ... it took me four blown accounts to see the bigger picture. While my friends were saving for motorbikes and cars I was saving to invest in equities and forex.

My most costly lesson was watching a new account get margin called within 2 minutes of going live. (ECB rate decision - 100-200 pip spike) no sl, didnt even know the event was occuring - took out 50% of my equity instantly, sat there hoping for it to spike back down, equity went to -70% ... closed it off and took a revenge trade and ran the remaining 30 into the ground.

Needless to say I learned 3 things in that one event - Always use a SL of some sort, Never use insane lot sizes and if uncertain, avoid news releases at all costs.

Even then I didn't give up... I had to refine the way I traded, become more apathetic with loosing positions, as well as winning ones and also the way I viewed/view my balance and equity stats - These are like your business capital, cant make money without equity right?

Enough blah blah...to the guy who's suffering from the plight most of us have been through, see it as a lesson learned... albeit a hurtful and expensive one.

You may/may not escape, the truth is NONE of here can really help you in the way you wanna be helped, price will decide the outcome. We can only offer ways to avoid or mitigate it from occurring in the future.

Don't mean to be cynical again, but you must understand there is no optimism in trading, you must remain neutral in your thoughts. In forex a bias is akin to ego.

Good luck, peace.
  • #181,273
  • Nov 6, 2009 5:33am Nov 6, 2009 5:33am
Quoting TauTrader
Good day to you all,

Hope things are progressing. Here is something to read:

There are 2 kinds of traders. Those who have experienced a trading slump, and those who will. Any experienced trader who says he's never been through a slump is a liar.
Wish you all success

Regards
Ghost Rider - WWTBMD?
  • #181,274
  • Nov 6, 2009 5:34am Nov 6, 2009 5:34am
Quoting need-help
Hi,
I have already closed 2 of my postions with a small profit. Waiting for the right moment to close the rest. I hope I can close all of them before nfp release.
Would you suggest opening any positions now that you know my situation?
My dear friend ,

It is best never to add to any loosing positions as you are already down over 30% of the account. Be Patient..I have a feeling that pre NFP we might take a sweep down to collect buyers and I think this may be your chance to take all your positions out.
After this
Dont trade today let the market settle and take your new positions on monday with a fresh pair of eyes.

Good Luck
GeppyG
Let Price determine your future!
  • #181,275
  • Nov 6, 2009 5:34am Nov 6, 2009 5:34am
Quote
A little something to share with the new guys :
http://www.forexfactory.com/showpost...postcount=3741

Very nice post.

I think i am currently in stage 2 at the moment.
  • #181,276
  • Nov 6, 2009 5:36am Nov 6, 2009 5:36am
Quoting Geppyg
I see no valid trades between 1.6580 and 1.6624.
The only logical trades that are available are:

Long at 1.6580 with a short stop at 1.6555
Short at 1.6630 with a short stop at 1.6645

Other than that you must be joking no point getting involved in congestion.

Where is Azim,Bull Bear,DT,chris.......hmm plotting somat somewhere are we lol
OKAY
Want nearest point to 1.67 to put sl 1.6720
  • #181,277
  • Edited 6:44am Nov 6, 2009 5:38am | Edited 6:44am
Quoting TauTrader
Good day to you all,

Hope things are progressing. Here is something to read:

There are 2 kinds of traders. Those who have experienced a trading slump, and those who will. Any experienced trader who says he's never been through a slump is a liar. The majority of good traders have gone through flat periods at some point in their career. Many slumps have a psychological reason behind them. Your belief and confidence in yourself are going to be your main tools in pulling yourself out of a slump. Let's say you've found a trading method that works...
bravo my man!! bravo
u know i will make a prediction (i hate this word).LOL
u will be a profitable trader over time and have a chance of geting into the top 3%..u think the right way!! experience cannot teach u by trading charts...u have chosen to develop yur minds and thats where the battle starts and finishes.

The market is a meduim where there is no rules ( it is the closest thing to the matrix) what u have learned is yur perception and it is these signal that u will see....in other words u see only what u know to be...its selective to yourself

classic example is tautrader and me

same market different direction, why, different edge also different knowledge..this is why people lose and win and this is so difficult to master cause its all in yur head because of your perception based on yur understanding and it is only this u see in the market...the other signals are present but not acted upon, because u simply are aware of them - due to lack of knowledge

what u know is relative to what u dont...see the paradox


leads me to why......market is never wrong!!!!!!..how can it be if its all in yur head???

the mind is wired in such a way it is actually normal to lose in forex..hence the failure rate (yes i know, ...failure is not the right word)
u have rewire the way u think..tt u the man
very good post.
  • #181,278
  • Nov 6, 2009 5:38am Nov 6, 2009 5:38am
Quoting egkid
OKAY
Want nearest point to 1.67 to put sl 1.6720
Good Lad...And I like your stop but 1.6745 is a better figure for stop hunt...
Let Price determine your future!
  • #181,279
  • Nov 6, 2009 5:39am Nov 6, 2009 5:39am
Quoting DubaiFX
Sold EUR/USD also just a min ago
NFp may hit me hard enough but i have good money management so no worries folks..

Choose.Wisely
Me 2 Have sell e/u 1.49
Let's see
  • #181,280
  • Nov 6, 2009 5:41am Nov 6, 2009 5:41am
This 5 min chart has the market profile - cumulative volume - starting at the US close. The blue is from the London Open which has put the current volume pivot at 1.6614 and as the market has not broken upwards we can assume that this included plenty of profit taking / selling prior to the NFP data.

IF anyone must trade - and IMO they're crazy this close to NFP - the two current possibilities are in the areas shown......I took a long at the Frankfurt Open and banked a few pips and also have had a short off the 6614 level - again banking my pips fast.....now I'll have lunch and then be ready for the US session - any further trades will be small size on this difficult day.......
Attached Image (click to enlarge)
Click to Enlarge Name: nov 6 cable 5m 1125.gif Size: 27 KB
Trading Levels with WRBs
219 traders viewing now, 2 are registered:
,