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Cable Update (GBPUSD)

  • #181,361
  • Nov 6, 2009 8:25am Nov 6, 2009 8:25am
Quoting TexasforEX
Helicopter Ben isn't going to raise until 2011...No inside knowledge just my opinion
Quoting TexasforEX
1150 will cap the S&P for the next 10 years. I'm serious as a heart attack. The pain is coming......
Quoting TexasforEX
Oh yeah, the correlation between strong equities and a weak dollar will break pretty soon.

Oil is the most important commodity. Til now, a supposed rebound has been the reason oil has been moving higher (increased consumption, etc...) Once oil continues going much higher it will be negative for the economy. The tail will start to wag the dog.
Not bad analysis ehh?

I am out...

Cheerio Euro Bulls Enjoy the Fleecing
"Timing Is Everything. Really I Swear It Is"
  • #181,362
  • Nov 6, 2009 8:26am Nov 6, 2009 8:26am
Good day to you,

Please do not see this post in the wrong light. This is for the sake of transparency and a log to myself.Should you feel that I must stop posting my weekly progress, feel free to indicate such - I will then refrain.

A mixed week with a 75%/25% win/loss ratio. But added some decent profits.

I want to take the opportunity again to thank all the traders for their contributions. I am learning daily and I will continue to do so. My target is total freedom.... one day...

Wish you all success

My highest regards to the community
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  • #181,363
  • Nov 6, 2009 8:26am Nov 6, 2009 8:26am
Quoting nAVIN2007
its not the news that u need to know...its the reaction from it




could u explain why this reaction happen pls?
  • #181,364
  • Nov 6, 2009 8:28am Nov 6, 2009 8:28am
Hi Bro

Are you on the long side too? I'm not convinced the NFP stats is enough to send Cable deep South...

What are your thoughts - I see cable back at 1.658 testing 1.660 today and breaking this on Monday, specially if the G20 guys don't say anything to strengthen the Greenback.

Funny enough, I love someones signature I saw earlier - it's not about being on the bull or bear side, but on the winning side; that's where I aim to be from now on.

Good luck!

Quoting Geppyg
Chris....the quick visit to 634 planned out perfectly and the visit to 530 planned out perfectly as well now the longs have kicked in...this is scary..seems like I might have the magic ball bro
  • #181,365
  • Nov 6, 2009 8:29am Nov 6, 2009 8:29am
Quoting maxss280
I don't trade the news because I am not to familiar with what news makes the currencies move.
From what I understand if the dollar has bad news that would make it weak causing the GBPUSD to go up. Right?? However, just now we had horriable news for the USD but it made it stronger causing the GBPUSD to go down. Could someone clarify this for me.

THANKS A BUNCH!
Well firstly the bad news was bad for the US economy, not the bad news for the US dollar. The dollar is traditionally seen as a currency to move to if the economy looks bad because it is seen as more stable. So this news in fact caused the dollar to go higher as people sold off other currencies to buy dollars. What confuses me though is how people still see the US dollar as a safe and stable currency in light of the amount of dollars being printed. I suspect maybe this is why the GBP didnt fall as much? I dont see how selling off the GBP to buy USD is seen as such a safe move right now.
  • #181,366
  • Nov 6, 2009 8:30am Nov 6, 2009 8:30am
Quoting TauTrader
Good day to you,

Please do not see this post in the wrong light. This is for the sake of transparency and a log to myself.Should you feel that I must stop posting my weekly progress, feel free to indicate such - I will then refrain.

A mixed week with a 75%/25% win/loss ratio. But added some decent profits.

I want to take the opportunity again to thank all the traders for their contributions. I am learning daily and I will continue to do so. My target is total freedom.... one day...

Wish you all success

My highest regards to the community...
Tau, I see you improving everyday bro...

Nice trading methodology and discipline there my friend
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #181,367
  • Nov 6, 2009 8:30am Nov 6, 2009 8:30am
You're not a 'bragger' bro, and all your 'calls' appear in the light of a real will to help others, not to boast about how good you are.

Shame about the Euro trade, you may have had a closer to 100% record - but next week will be better!

Well done.


Quoting TauTrader
Good day to you,

Please do not see this post in the wrong light. This is for the sake of transparency and a log to myself.Should you feel that I must stop posting my weekly progress, feel free to indicate such - I will then refrain.

A mixed week with a 75%/25% win/loss ratio. But added some decent profits.

I want to take the opportunity again to thank all the traders for their contributions. I am learning daily and I will continue to do so. My target is total freedom.... one day...

Wish you all success

My highest regards to the community...
  • #181,368
  • Nov 6, 2009 8:31am Nov 6, 2009 8:31am
Quoting riskyachtar
if break 1.6571 and going to 1.6601 - 1.6632
Breaks 1.6630 goes to the sky !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #181,369
  • Nov 6, 2009 8:34am Nov 6, 2009 8:34am
A very hard effort to break the support.
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Pride of opinion is a characteristic of losing traders
  • #181,370
  • Nov 6, 2009 8:34am Nov 6, 2009 8:34am
i got burnt 800 mullah... move on to next trade , next week. darn
  • #181,371
  • Nov 6, 2009 8:34am Nov 6, 2009 8:34am
Quoting manize
Breaks 1.6630 goes to the sky !
I wont let that happen. LOL.. Pass through my dead body..
  • #181,372
  • Nov 6, 2009 8:36am Nov 6, 2009 8:36am
Quoting Bull_Bear
Tau, I see you improving everyday bro...

Nice trading methodology and discipline there my friend
Good day to you,

Thank you for the encouragement. It is appreciated.



My highest regards
  • #181,373
  • Nov 6, 2009 8:38am Nov 6, 2009 8:38am
I would say we are neutral at the moment and both scenario are possible. I am out of th market today but if I were in I would be only watching at this very moment.

I was asked to explain price action. in the evening i will put some price action case studies on my blog - everybody is invited
  • #181,374
  • Nov 6, 2009 8:38am Nov 6, 2009 8:38am
Did you not get some profit on your short trades, and close the outstanding ones at break even?

Quoting mloistianto
I wont let that happen. LOL.. Pass through my dead body..
  • #181,375
  • Nov 6, 2009 8:39am Nov 6, 2009 8:39am
Quoting Wincent
today I made over 500 pips. ** GOD <-> I should say million thanks too u.
good stuff. always nice to see people profit.


but don't forget, imho this forum is meant for sharing analysis and ideas. the most important sharing in my opinion is to do with trading psychology and discipline. Learning to position yourself in the market to trade well (protect capital, consistent returns, then..and only then, exponential returns). As said before by some other forum-ers, two good traders can be on opposite sides, and still make money. The consistent edge will come from their psychology and discipline, not their chart reading or fundamentals.

I've been reading up on forexfactory a little after i started trading (almost 4 yrs now...wow seems like a long when i look back) and it would be very sad to see this thread take the path of bragging and nonconstructive comments. I think its fine to make critical comments on certain ideas or analysis that may be against your view or positions, but only to point out flaws or blindspots in methodology or psychology.

just my 2 cents. all the best in your trading.

~ humble yourself, or the market will do it for you.
  • #181,376
  • Nov 6, 2009 8:42am Nov 6, 2009 8:42am
Quoting isguru
You're not a 'bragger' bro, and all your 'calls' appear in the light of a real will to help others, not to boast about how good you are.

Shame about the Euro trade, you may have had a closer to 100% record - but next week will be better!

Well done.
Thank you for your kind words. I will one day be able to contribute more, as I get better.

I wish you well

Regards
  • #181,377
  • Nov 6, 2009 8:44am Nov 6, 2009 8:44am
Quoting isguru
Did you not get some profit on your short trades, and close the outstanding ones at break even?
Thanks for following me. LOL. But no, i'm not closing anything yet. Greed? Perhaps, Eager? Another perhaps. Curious?Indeed.. I have my personal justification on my trade. even though now i loss, that is my proof.. to do better in my next trade. i will not close this until my sl being hit.. i'm planning for a bit longer term. I'm not a pro like all of this people.. But at least, i'm trading for my self.. Thanks for caring. Good Luck to u bro.
  • #181,378
  • Nov 6, 2009 8:47am Nov 6, 2009 8:47am
Entered short again at 1.5583 for a retest of 1.6533.

TP 1.6508
SL 1.6618

Let's see...
  • #181,379
  • Nov 6, 2009 8:47am Nov 6, 2009 8:47am
sold at 6590
looking for 40 pips
look at 1h macd
chart is attached
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Don't compare your Trades with Others
  • #181,380
  • Nov 6, 2009 8:49am Nov 6, 2009 8:49am
Well i am out i think for the day. Tried to get in on what i thougth was a pullback.

Was a silly and instinctive not thougth out trade and i paid the price.

Got to keep telling myself to keep out of news trades.
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