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Cable Update (GBPUSD)

  • #187,281
  • Dec 11, 2009 3:18pm Dec 11, 2009 3:18pm
*******************
Hi Malcomb

Yesterday you said we'd see 1.6000 today, would we seethison Sunday night aswe didnt seeit today?=
also you say parity next June 2010, onthe same page 1.4 by 2010, isnt this just guessing?
isguru

************************

isguru, you are absolutely right!!!
Holding my candle high up, my mentor lit it up once!!
  • #187,282
  • Dec 11, 2009 4:18pm Dec 11, 2009 4:18pm
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feeling atleast 6000 next week
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  • #187,283
  • Dec 11, 2009 7:53pm Dec 11, 2009 7:53pm
Hi everyone..
Hi Malcomb..
I m really newbi here.. is it the trend will going down n down by next week? will be lower 1.6000 n also to the next year?
  • #187,284
  • Dec 11, 2009 8:00pm Dec 11, 2009 8:00pm
Quoting isguru
Hi Malcomb

Yesterday you said we'd see 1.6000 today, would we seethison Sunday night aswe didnt seeit today?=
also you say parity next June 2010, onthe same page 1.4 by 2010, isnt this just guessing?
isguru

of course it is guessing .. but isn't every trade we take guessing ? look at three charts below ... they will clarify some things ......long term . I am not talking about one day I missed a target by 200 pip and only made 130 pip gu and 150 eu . Big friggin deal and very petty of you to even mention.

trading is all educated guessing. That is what my trade is about ....

I could talk about JP Morgan the 70 trillion derivatives they have and the 20 trillion risk on spreads of those derivatives. I could talk about the commercial mortgages that are going into default slowly but surely , i could talk about the fact that 30 european countris are broke and that Spain unemplyment is 27% latvia they are having riots due to rising unemplyment http://socialistworld.net/eng/2009/11/1603.html etc etc .. none of this matters .....as the doallr index tells all ......

really is the usd weak against the euro or the gbp ? or are the uk and europe in the same or a worse situation than the usd? and after enjoying recent stregnth against the usd are now going to get crushed


if you really think that the price closing on the low of the week is bulls in control then you had better review what you know about trading ( no offense intended) but why are you arguing this point ?

There was no enough downside momentum to break thru support 6200 . who cares i still made a ton eu and gu .

NOW LOOK AT THESE CHARTS AND YOU COME BACK AND TELL ME BULLS ARE IN CONTROL ....

If you do not want to make a gazzilion pips then fine but i am short 10 lots eu and gu and holding for long term , yes i may get a little drawdown of 200 pip on reatrcements but these pairs are about to fall off the cliff

read this guys blog . I personally know this guy. He was an ex risk anlaysts for Jp Morgan and now trades a pool of money on his own . I was in conversation with him ;ast week and asked baout parity on euro he said i was wrong and I was about to argue the point , he said your target is to high think 0.5 !!! so the charts below are conservative .....really scary

http://m3financialsense.blogspot.com...-they-for.html

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Blogging daily now at www.volume.zone
  • #187,285
  • Dec 11, 2009 8:52pm Dec 11, 2009 8:52pm
Next move target
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Pride of opinion is a characteristic of losing traders
  • #187,286
  • Dec 12, 2009 2:18am Dec 12, 2009 2:18am
To malcolmb14....

I really am finding your charts interesting and you are great at showing exactly why the gu will go down. Thanks for the substantiated info. Most people make claims they cannot back up so I appreciate you showing us exactly how you are making your decision with this.

I am new to forex and learning how to set up long term trades...so I was wondering how far do you set your stop-loss for your long term trades with the gu? I am still not sure where to set mine so I hope you do not mind me asking you. I am like a sponge trying to soak up all the knowledge I can with forex.

Thanks heaps mate for any info you can share with me!

I hope you make many pips on your gu trade!
  • #187,287
  • Edited 5:09am Dec 12, 2009 4:56am | Edited 5:09am
HI All
i see that most of the senior members expecting a big rise in dollar on the coming months.. so what is the effect of this on the us stock markets??
this is very important for me because our markets in the middle east are badly affected by the fall of the us markets ( which i think will accompany such a leap on the dollar ) am i right ?????!!!
thanks in advance
  • #187,288
  • Dec 12, 2009 5:19am Dec 12, 2009 5:19am
Quoting uncletrumpet
Why did u remove it. I strongly believe the bears will take over from now on. Watch out!!! 1.6330 is very hard to break. And the bulls are short of gas.

we shall see 1.6250 soon now. the bulls are tired. The bears are afraid to enter.
I have given you the trade call. I entered at 1.6300 spike and all the way down to 1.6215

See you guys next week by HIS grace
  • #187,289
  • Dec 12, 2009 5:55am Dec 12, 2009 5:55am
Malcomb, I'm not questioning whether youve made a million pips trading over th emonths and I am not suggestingbulls are in control by any means, I am just warning newbies of course to not take your wordd for Gospel on what will happen since I lost my first account (dont remember if it was even two accounts) because I followed your calls to the letter, that is I believed you know it alll because you are very knowlegeable.=

Its just your style of writging makes it hard for people to think you are 'guessing', and when youre wrong, I dont see you coming back to say 'I was wrong' you tend to just disapear off to another thread.

Yesterday, it was meant to go to 1.600 based on your post on Thursday night, and if I hadn't been burnt before, I would have placed a trade asa newbie going down to 1.600 believing you were so right- so missing a target by 200 pips migt not be a big deal to you, but to new traderswho see you as a mentor, they may have been tempted at 1.6200 lets say, to enter a sell order goingdown to 1.6000 not realising it might not go in a straght line.

Im not being petty, but since viewing DTs tread, I've come to appreciate the difference between a very experienced tradr like DT coming out and saying 'I was wrong', and heres my losses; and you saying it's going this way tomorrow, and not coming back and saying 'I was wrong'.

A projction based on 6 months' time is great, but doesn't help newbies whose life may depend on the little income they may make from forex, and 200 pips may be a very big deal to them if not to you.

Sorry my Speech software isnt wrkingtoday,so my typing isbad.





Hi Malcomb

I think you're a goodtrader, but you halfalso, over the few pst weeks when cble was up at 1.68 sugested ut may go to 1.72 also, so its not nicee for you to say youve been getting slagged off abot something for weeks. Sometimes youre wrng and sometimes your wright, eg on thursday you said we wld see 16000 on friday, which we didnt. If you copy drect trade and others on his forum, and come back on theforums and say I was wrong, that wld make up for the times when your right.

If cable drops 3000 to 4000 pips, remembere it first went up to 1.68 when you said it was going straigt down a few motnhs ago. Nice to be gracious like people like drecttrade.

Fact is, nobody knows EXACTLY where the market is going on a particular day, we can only make educational guesses - for newbies, please remember this that NOBODY IS QUALIFIED TO GIVE CALLS SO DON'T PLACE YOUR TRADES ON ANYONE ELSE'S CALLS - no matter how experienced they may sound, because THEY COULD BE WRONG, just as THEY COULD BE RIGHT.

I made the mistake when I first started of following Malcomb to the letter when he used to give dates by which Cable will fall to 1.55, because he is very experienced and knowledgeable, and i got badly burnt, lost an account because of this (and I am not blaming him, I blame myself); so the best thing to do is study, and dowhat your mind tells you to do because you could get into a mess following others.

If cable goes down to praity with the dollar by next June, it wont be because Malcomb said so, it would be because the market makers have choosen to take it there. So be careful.

My mentor she always says study well and 'follow your instinct', and dont regret if you miss out on an opportunity, based on a call, that there will always be opportunities. Please take this on board or else you will keep blowing your account.



Quoting malcolmb14
funny you mention that and i have getting slagged off about this for weeks now ... but gu and eu are about to drop 3000 to 4000 pips

think 1.15 eu , gu parity ...sound insane but chances are there form a TA standpoint and a fundamental standpoint

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http://www.forexfactory.com/showpost...stcount=187288

Quoting malcolmb14
of course it is guessing .. but isn't every trade we take guessing ? look at three charts below ... they will clarify some things ......long term . I am not talking about one day I missed a target by 200 pip and only made 130 pip gu and 150 eu . Big friggin deal and very petty of you to even mention.

trading is all educated guessing. That is what my trade is about ....

I could talk about JP Morgan the 70 trillion derivatives they have and the 20 trillion risk on spreads of those derivatives. I could talk about the commercial mortgages that are...
  • #187,290
  • Dec 12, 2009 7:42am Dec 12, 2009 7:42am
Quoting aswilled
I can remember being where you was. If you are willing to learn I have materials that can help you achieve your goal of becoming a proficient trader.
thanks..aswilled..you could share what you have in this forum, let me and others newbies learn to enhance our trading skills..
Patience + Discipline =
  • #187,291
  • Dec 12, 2009 8:52am Dec 12, 2009 8:52am
we are finally heading for a breakout on the daily...
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  • #187,292
  • Dec 12, 2009 10:11am Dec 12, 2009 10:11am
this is an interesting question

I have NO doubt in my mind about the drop .

I shorted eu 1.4850 target 1.15 with no stop loss as I have been watching dx forming the long for several weeks now. Even if i got a 400 pip draw down The risk reward is very high so was not worried about it.

gu I have been short since 1.6980 and holding. I mentioned this short coming as of July this year. It is taking time to come but isn't 700 k off 10 k worth the wait ? GU I think if we break 1.6150 we head to 5800 where there is major support. A break of this nothing stopping it till 1.5000. So either take sell off 1.6330 , 200 pip stop , or sell break 1.6160 ,100 pip stop and if you get stopped out wait for reatrce and resell . There is zero doubt in my mind where this is going.

Stops all depend on the risk and leverage you are using on your account . To be very frank when entering my recent swing trades I did not put any stop on them , and i am ot a swing trader typicaly , but things are setting up for the perfext storm

Quoting forexstrah
To malcolmb14....

I really am finding your charts interesting and you are great at showing exactly why the gu will go down....
Blogging daily now at www.volume.zone
  • #187,293
  • Dec 12, 2009 10:34am Dec 12, 2009 10:34am
wonder why my post count has gone down over recent weeks ?

due to dealing with this......

I post once or twice this week and one of them is pounced on by you .

yes we are all wrong......if i was right all the time think i would ever be posting in here.. No I would be enjoying all by millions and languishing on a beach in the Bahamas and not even thinking about trading.

If you wanted signals from me , you should have asked me 1st ... and then I would have charged you , told you how to manage the risk , where to put stops etc etc.

any newbies that follow anyone in here are doomed ... doomed

a hint to newbies ...being successful in this game is NOT about making 400 to 500 pips per week as many in here claim they do. IT is about managing risk and being consistant. On any typical week i will make 200 to 250 pip only. Keep the target real

how as i said usd is going to kick some serious rear end ...




Quoting isguru
Malcomb, I'm not questioning whether youve made a million pips trading over th emonths and I am not suggestingbulls are in control by any means, I am just warning newbies of course to not take your wordd for Gospel on what will happen since I lost my first account (dont remember if it was even two accounts) because I followed your calls to the letter, that is I believed you know it alll because you are very knowlegeable.=

Its just your style of writging makes it hard for people to think you are 'guessing', and when youre wrong, I dont see you...
Blogging daily now at www.volume.zone
  • #187,294
  • Dec 12, 2009 10:38am Dec 12, 2009 10:38am
Hello malcolmb
Watch out U/CAD
  • #187,295
  • Dec 12, 2009 10:39am Dec 12, 2009 10:39am
dude you are the best and great! but you never told me how to put those better volume indicator on e-signal

Quoting malcolmb14
wonder why my post count has gone down over recent weeks ?

due to dealing with this......

I post once or twice this week and one of them is pounced on by you .

yes we are all wrong......if i was right all the time think i would ever be posting in here.. No I would be enjoying all by millions and languishing on a beach in the Bahamas and not even thinking about trading.

If you wanted signals from me , you should have asked me 1st ... and then I would have charged you , told you how to manage the risk , where to put stops etc etc.

any newbies...
Its all in the mind.
  • #187,296
  • Dec 12, 2009 10:58am Dec 12, 2009 10:58am
The communications and dialog on all forums for goodness sake CAN NOT BE TAKEN as a recommendation about any 1 trade.

If Malcomb shares what HE IS DOING so that it can followed to see the outcome, it should only be to verify if he knows what he is doing and is successful. IF one were to conclude he is successful, then they could choose to learn elements of what he does or ask to be shown the entire method.

Please don't tell me that people that have no knowledge or understanding of trading, forex or cash management, open and fund an account only to follow the advice of someone they think knows what they are doing after a hour of reading a thread.

What happened to common sense and being responsible and accountable for ones own decisions? If you are copying someones posts, shame on you for trying to lay this at someones feet as there fault. Your no victim.

If your new to trading and or to forex, there are demo accounts to learn on. If you don't want to put in the time to learn basics and take tiny risks once you think your ready. Do yourself a favor, and go to Vegas and place a bet on red or black. That way you won't spend 100's of hours to loose the money in frustration. You can feed the need to lose and get it over with in 10 minutes.



BR
  • #187,297
  • Dec 12, 2009 11:05am Dec 12, 2009 11:05am
Quoting malcolmb14
if i was right all the time think i would ever be posting in here.. No I would be enjoying all by millions and languishing on a beach in the Bahamas and not even thinking about trading.
Exactly!

Those who stop posting or at least slow down in their postings are the wise ones.
  • #187,298
  • Dec 12, 2009 11:13am Dec 12, 2009 11:13am
Quoting isguru
Malcomb, I'm not questioning whether youve made a million pips trading over th emonths and I am not suggestingbulls are in control by any means, I am just warning newbies of course to not take your wordd for Gospel on what will happen since I lost my first account (dont remember if it was even two accounts) because I followed your calls to the letter, that is I believed you know it alll because you are very knowlegeable.=

Its just your style of writging makes it hard for people to think you are 'guessing', and when youre wrong, I dont see you...
I can appreciate a lot of what you say here...I have lost a lot of money playing with the guru's as well...The thing is, and something that you have unfortunately as well have learned as an expensive lesson is that the only way to be successful in the market is to learn to play off of your own charts.

He said/She said...It's really all about what you say, and what you will play.

Projections that go on for anything longer then a daily chart are massively speculative, and because of the grand scale sale from last year, I don't believe weekly or monthly indicators are worth 10 cents in following the current trends, but as Mal has stated, these are "Educated Guesses".

It really doesn't matter how many charts you post, or what logic you use, the best we have is just that, a Guess.

Indicators help us with that guess, most indicators are volume and price based so are subject to change with the trends. Picking absolutes or complete direction though not impossible, it is more improbable.

As good as your words of caution are, singling out any single trader and blaming them for the loss of your money isn't in keeping with the true spirit of what a lot of us try to accomplish here. There isn't a single Sr. trader that is above the laws of money management and nobody that will claim to have never been wrong. We all encourage the free flow of information and trading off of your own devices.

Bottom line, as soon as you hit the Buy/Sell button, the trade is all on you as only you can be responsible for your actions in this game.

Best wishes through the season and in your trading.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #187,299
  • Dec 12, 2009 11:30am Dec 12, 2009 11:30am
Quoting Magix
I can appreciate a lot of what you say here...I have lost a lot of money playing with the guru's as well...The thing is, and something that you have unfortunately as well have learned as an expensive lesson is that the only way to be successful in the market is to learn to play off of your own charts.

He said/She said...It's really all about what you say, and what you will play.

Projections that go on for anything longer then a daily chart are massively speculative, and because of the grand scale sale from last year, I don't believe weekly or...

I like the bottom line bro.. hehehe
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #187,300
  • Dec 12, 2009 11:56am Dec 12, 2009 11:56am
Quoting Yngwie
I like the bottom line bro.. hehehe
I don't want this to come out condescending, so will apologize in advance if it does.

I have followed the forum and a lot of the traders for months...of a lot of the people that I have seen come and go, you seem to be one of the ones who has not only improved as a trader, but have been very successful in your price point targets for trends.

There are a lot of great traders that hang their hats here, and I believe you to be one of them.

I don't know what size lot you play, or if you are in a demo account, because that is really moot. The point is, that you have come a long way in your trading, and I think that you are a Great example of a trader that is not afraid of what anybody says and sticks to his guns.

You are IMO a perfect example of what most traders aspire to be.

My hat is off to you sir.

Best of luck in the new year.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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