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Cable Update (GBPUSD)

  • #181,581
  • Nov 8, 2009 6:43pm Nov 8, 2009 6:43pm
I am not sure, a trader from this thread was asking about the meanig of price action. I promised to do case study - here it is. in case you are interested in detail - see my blog. everybody is welcome
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  • #181,582
  • Nov 8, 2009 6:47pm Nov 8, 2009 6:47pm
can we pls cut the soap operas crap and start throwing in charts and thoughts

how about that i`ll start..

i`m hedging this range on gu right now cuz i`m greedy and want to try to make the daily range from here cuz i have a strong feeling that it just either got marked down into support to pick some more longs on the m1/m5 trend or its just going to range from now on, OR i may have picked a good top for now. so since this scenario offers good riskayoff and i also took 1/2 off the long i had so i make sure i get paid at least something now both trades are with secured backing and free and i do not care what happens unless the mother of all whipsaws comes in and kills both my trades is what i`m betting against or i`m shorting volatility hoping for a directional decision

pls everybody stop talking about bull shit and start posting trades and thoughts i`m fucking sick of it ok ?
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Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,583
  • Nov 8, 2009 6:52pm Nov 8, 2009 6:52pm
Quoting djambazov84
can we pls cut the soap operas crap and start throwing in charts and thoughts

pls everybody stop talking about bull shit and start posting trades and thoughts i`m fucking sick of it ok ?

Although I agree in essence :-


1. Learn to trade for yourself, don't rely on people you don't know and might well by 10year old kids on the internet bored.
2. Back test these charts that have been previously posted and see how truely meaningless they are.
3. Only post charts based on some real statistical probability rather than the BS thats posted around here.



+50 on the week so far and yet everyone was shorting, do you not see my isssue ??? People who repeatly try to short every what looks like a top are not good traders!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,584
  • Nov 8, 2009 7:00pm Nov 8, 2009 7:00pm
Quoting Turveyd
Although I agree in essence :-


1. Learn to trade for yourself, don't rely on people you don't know and might well by 10year old kids on the internet bored.
2. Back test these charts that have been previously posted and see how truely meaningless they are.
3. Only post charts based on some real statistical probability rather than the BS thats posted around here.



+50 on the week so far and yet everyone was shorting, do you not see my isssue ??? People who repeatly try to short every what looks like a top are not good traders!!
glad u agree finally on something...i knew u`d appreciate the approach somehow
1. I will never stop learning and I will never learn from anybody else. That actually hangs from the top right of my computer. Yes, I`m a post-it kind of guy, I like to have everything in front of my eyes gives a boost to discipline. Cant explain why and do not want to, try it if ur curious, I endorse it.
2. Backtest my charts or what charts ? Because if you mean my charts, then I really do not feel I should backtest as much as before since I tend to say that my payout is positive for some time now...enough said bout that.
3. The chart I posted almost has a statistical edge but it will never be 100% of the whole discretionary decision because trading is also screen experience and an art in its own. But statistics do help...sometimes
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,585
  • Nov 8, 2009 7:03pm Nov 8, 2009 7:03pm
Quoting Turveyd
Although I agree in essence :-


1. Learn to trade for yourself, don't rely on people you don't know and might well by 10year old kids on the internet bored.
2. Back test these charts that have been previously posted and see how truely meaningless they are.
3. Only post charts based on some real statistical probability rather than the BS thats posted around here.



+50 on the week so far and yet everyone was shorting, do you not see my isssue ??? People who repeatly try to short every what looks like a top are not good traders!!
true, true, true. I would say something more: somebody who is trying to catch pick lows or highs doesn't have much chances to succeed (IMO).
  • #181,586
  • Nov 8, 2009 7:04pm Nov 8, 2009 7:04pm
Quoting djambazov84
2. Backtest my charts or what charts ? Because if you mean my charts, then I really do not feel I should backtest as much as before since I tend to say that my payout is positive for some time now...enough said bout that.
3. The chart I posted almost has a statistical edge but it will never be 100% of the whole discretionary decision because trading is also screen experience and an art in its own. But statistics do help...sometimes

2. Back test the charts posted by others, which you so much want this thread to go back to.
3. I'm a math's / Stat's guy if I can't prove a edge as being viable live not after the event like most are then I don't use it, simple as!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,587
  • Nov 8, 2009 7:05pm Nov 8, 2009 7:05pm
Quoting djambazov84
glad u agree finally on something...i knew u`d appreciate the approach somehow
1. I will never stop learning and I will never learn from anybody else. That actually hangs from the top right of my computer. Yes, I`m a post-it kind of guy, I like to have everything in front of my eyes gives a boost to discipline. Cant explain why and do not want to, try it if ur curious, I endorse it.
2. Backtest my charts or what charts ? Because if you mean my charts, then I really do not feel I should backtest as much as before since I tend to say that my payout...
and you are correct as well in my opinion it is never enough to stop learnig...
  • #181,588
  • Nov 8, 2009 7:06pm Nov 8, 2009 7:06pm
Quoting Turveyd
2. Back test the charts posted by others, which you so much want this thread to go back to.
3. I'm a math's / Stat's guy if I can't prove a edge as being viable live not after the event like most are then I don't use it, simple as!!

oh got you, well the charts of the people i deem lacking any logical point and worthless of any practical value are on my short list so i know whom i have chosen to hear and analyze his opinion because i always like to hear another side`s point of view regardless of mine
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,589
  • Nov 8, 2009 7:15pm Nov 8, 2009 7:15pm
Quoting cannarek
true, true, true. I would say something more: somebody who is trying to catch pick lows or highs doesn't have much chances to succeed (IMO).
If I could only remember what I was doing when I first started trading and do it in reverse, I could seriously be the most successful trader ever.

I had Bought every Top and Sold every bottom possible!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,590
  • Nov 8, 2009 7:17pm Nov 8, 2009 7:17pm
5% success in forex
95% loser in forex

but am interesting to see somebody who used 50K usd starting capital with very good money management claimed by him?? Really BS....
Where is he stop Loss ya ?
and now am really lough at him as he really deserve for it.

As i start a poll last 2 week, i only think of short GU if price touch 1.67-1.6740 and rejection to break to north gate of 1.7040 or above..

Good luck..

Seems GY already fill the gap from last friday to 149.80 (if someboday aware during NFP drop especially M15 TF is obvious) and offcause close my Long as well...enough for today and catch u guys later in London
  • #181,591
  • Nov 8, 2009 7:18pm Nov 8, 2009 7:18pm
Quoting djambazov84
oh got you, well the charts of the people i deem lacking any logical point and worthless of any practical value are on my short list so i know whom i have chosen to hear and analyze his opinion because i always like to hear another side`s point of view regardless of mine

But for a newbie trader all these charts that contradict and lets face the it the bad traders out number the good traders on here 10x's easy, there going to go for the more that suggest the same try to emulate them and lose there asses.

See my point yet ??

Maybe you should get the name changed, to newbie's experimenting with charts don't listen to any advice on here ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,592
  • Nov 8, 2009 7:20pm Nov 8, 2009 7:20pm
Quoting Turveyd
Although I agree in essence :-


1. Learn to trade for yourself, don't rely on people you don't know and might well by 10year old kids on the internet bored.
2. Back test these charts that have been previously posted and see how truely meaningless they are.
3. Only post charts based on some real statistical probability rather than the BS thats posted around here.



+50 on the week so far and yet everyone was shorting, do you not see my isssue ??? People who repeatly try to short every what looks like a top are not good traders!!
  • #181,593
  • Nov 8, 2009 7:24pm Nov 8, 2009 7:24pm
Quoting cannarek
true, true, true. I would say something more: somebody who is trying to catch pick lows or highs doesn't have much chances to succeed (IMO).

No chance at all and I'm the best darn tops and bottom picker there is but the odds are so far against you it's just unrealistic totally.

Read NO CHANCE!!!

It's the standard newbie trap we all fall for it, I sure as hell did, but this thread should be beyond this already.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,594
  • Nov 8, 2009 7:26pm Nov 8, 2009 7:26pm
Quoting Magix
If I could only remember what I was doing when I first started trading and do it in reverse, I could seriously be the most successful trader ever.

I had Bought every Top and Sold every bottom possible!

FEAR makes you trade the stupid way, which is illogical but it does, I'm still fighting and have to force myself to not pick tops / bottoms and occasionally I give in and take a huge account loss.

Getting there though!!

Also 95% lose the Stat's suggest ( no idea on accuracy ), but 100% of the people here pretty much are profitable and Pro's, hmmmmmmmmmm.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,595
  • Nov 8, 2009 7:37pm Nov 8, 2009 7:37pm
Quoting Turveyd
FEAR makes you trade the stupid way, which is illogical but it does, I'm still fighting and have to force myself to not pick tops / bottoms and occasionally I give in and take a huge account loss.

Getting there though!!

Also 95% lose the Stat's suggest ( no idea on accuracy ), but 100% of the people here pretty much are profitable and Pro's, hmmmmmmmmmm.
It was seriously gross and embarrassing...I would buy because the chart was spiking massively, only to see that I never made a green tick, and would hold that mother until I couldn't stand the pain anymore and short, only to see that again, I would never see a green tick and back up she would go....

Watching forums and seeing other prosper around you when all you do is lose really fucks with your head.

I started watching the charts instead of the forums, and it was only then, I would see profit. I still like the boards, but still prefer to play off of my own charts.

Always learning, sadly like a lot, I payed dearly for my lessons.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,596
  • Nov 8, 2009 7:40pm Nov 8, 2009 7:40pm
Quoting Magix
It was seriously gross and embarrassing...I would buy because the chart was spiking massively, only to see that I never made a green tick, and would hold that mother until I couldn't stand the pain anymore and short, only to see that again, I would never see a green tick and back up she would go....

Watching forums and seeing other prosper around you when all you do is lose really fucks with your head.

I started watching the charts instead of the forums, and it was only then, I would see profit....
this is where i disagree because to me, it is a tuition fee, not a loss and it helps radically change the mind set because you would never want to pay for same tuition twice, would you ? what would be your "economic" cost if you purchase something you already know the answer of ? exactly your repetition of the mistake will be your economic cost
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #181,597
  • Nov 8, 2009 7:41pm Nov 8, 2009 7:41pm
Gold double top just formed at 1100.

Any thoughts on the directio it willtake?
  • #181,598
  • Nov 8, 2009 7:45pm Nov 8, 2009 7:45pm
Quoting Magix
It was seriously gross and embarrassing...I would buy because the chart was spiking massively, only to see that I never made a green tick, and would hold that mother until I couldn't stand the pain anymore and short, only to see that again, I would never see a green tick and back up she would go....

Watching forums and seeing other prosper around you when all you do is lose really fucks with your head.

I started watching the charts instead of the forums, and it was only then, I would see profit....

Ahhhh but there losing to, there just lying about it which makes you think it's you not the system so you keep playing the same game and wiping your account out.

I started off profitable, then a mate who was a I AM man, told me about forums and how to trade proper like bla bla bla, he was losing his ass but only telling me about the winners that did A LOT of damage I shoulda kept going as was I'd be rich already

Which is why I try to stop what happened to me, happening to others.

Judging from the reaction I get from a simple post, there all lying, GUILTY comes to mind and they know it deep down inside notice how most think I'm targeting them personally, when I barely check this thread and talking entirely in general and have no idea who'm the good or bad traders are.

Anyway SLEEP!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #181,599
  • Nov 8, 2009 7:45pm Nov 8, 2009 7:45pm
Quoting djambazov84
this is where i disagree because to me, it is a tuition fee, not a loss and it helps radically change the mind set because you would never want to pay for same tuition twice, would you ? what would be your "economic" cost if you purchase something you already know the answer of ? exactly your repetition of the mistake will be your economic cost
And this is how I explained the loss to my wife.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #181,600
  • Nov 8, 2009 7:51pm Nov 8, 2009 7:51pm
Quoting Magix
And this is how I explained the loss to my wife.

LOL Amatuer, never speak of losses to mine only profits thankfully she's dumb and hasn't realised I should be a billionaire already
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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