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Cable Update (GBPUSD)

  • #190,081
  • Dec 30, 2009 7:46am Dec 30, 2009 7:46am
Quoting Jemmy
You got 22.5% profit yearly or monthly?..

said yearly

s&p crushed him
Blogging daily now at www.volume.zone
  • #190,082
  • Dec 30, 2009 7:47am Dec 30, 2009 7:47am
Quoting Baby-Trader
ok, we retraced from the first resistance @1.5989.
second one is 1.6023
do you think we will get there?
Pation is the Holy Grail
  • #190,083
  • Dec 30, 2009 7:50am Dec 30, 2009 7:50am
Quoting malcolmb14
said yearly

s&p crushed him
I want to ask what is the reasonable yearly profit in forex trading?
Patience + Discipline =
  • #190,084
  • Dec 30, 2009 7:55am Dec 30, 2009 7:55am
Quoting Jemmy
I want to ask what is the reasonable yearly profit in forex trading?
for the average ff trader somewhere about -40 till -80%
  • #190,085
  • Dec 30, 2009 7:56am Dec 30, 2009 7:56am
Quoting Jemmy
I want to ask what is the reasonable yearly profit in forex trading?

trading is 10% system and 90% mind set

if you wait for the right set ups
use the right money management
adhere to stops

a good return on fx can be achieved is 5% per month for a newer trader. Most new trader are so excited about trading they either press the buy sell button way to many time in a day or just do not wait for the right set up.

I know some in here do 5% in day blah blah blah. But lets see if they are still around trading in 5 years.

all traders have bad patches and losses. It is part of the game.

I achieve about 4% on account per week average including losses , but only take the very best trade set ups ( did not take long gu today and missed nice long as gold was heading down and dx up , so the market were not synchronized).... so took euro sell instead.
Blogging daily now at www.volume.zone
  • #190,086
  • Dec 30, 2009 7:57am Dec 30, 2009 7:57am
could somebody explain me why this pair reacted on the chichago index totally oposite way than all the other pairs?
Pation is the Holy Grail
  • #190,087
  • Dec 30, 2009 8:00am Dec 30, 2009 8:00am
Who hates me?
  • #190,088
  • Dec 30, 2009 8:01am Dec 30, 2009 8:01am
if we break 1.6023, next stop will be @ 1.6145
  • #190,089
  • Dec 30, 2009 8:01am Dec 30, 2009 8:01am
Quoting Baby-Trader
Who hates me?
nobody hates you but on the other hand maybe nobody likes you (joke)
Pation is the Holy Grail
  • #190,090
  • Dec 30, 2009 8:01am Dec 30, 2009 8:01am
Quoting CzechTrade
could somebody explain me why this pair reacted on the chichago index totally oposite way than all the other pairs?

this is positioning for week going into New Year

they seem to pushing it up for no apparent reason in light volume trading session

gold is under support 1090

dx is close to resistance

ES turned off the top at 1123

so why the 140 pip move up GU ? makes no sense

This sound nuts but this move up may actually tell us their intent in the New year of selling the crap out of it.

I am off for now

Everyone have a great New Years ... be back next week
Blogging daily now at www.volume.zone
  • #190,091
  • Dec 30, 2009 8:02am Dec 30, 2009 8:02am
I'm outing now see you next year @1.64
remeber, my long entry @1.5870 TP 1.67 SL 1.56
  • #190,092
  • Dec 30, 2009 8:03am Dec 30, 2009 8:03am
Quoting malcolmb14
this is positioning for week going into New Year

they seem to pushing it up for no apparent reason in light volume trading session

gold is under support 1090

dx is close to resistance

ES turned off the top at 1123

so why the 140 pip move up GU ? makes no sense

This sound nuts but this move up may actually tell us their intent in the New year of selling the crap out of it.

I am off for now

Everyone have a great New Years ... be back next week
someone is buying chocolate in last minute..

Quote
Rumours now that US co Hershey will make a massively enhanced bid for UK's Cadbury's. As we say rumour only, and more than likely traders grasping at straws to explain today's monster [GBP] revival. Still there is no doubting the power of the Gbp bounce, and clear also that there is nothing to stand in the way of the stop rout. Eur/Gbp now 0.8935 from 0.9055. Pre Xmas lows in sight at 0.8914.
  • #190,093
  • Dec 30, 2009 8:04am Dec 30, 2009 8:04am
Have a good one malcolm, look forward to your return..
  • #190,094
  • Dec 30, 2009 8:05am Dec 30, 2009 8:05am
Quoting GlobalMacro
Bearish momentum subsided today
Cable tested former down TL around 1.5920 and bounced

As such I'm buying here @ 1.5955 ...just below yesterday's stopout level anticipating re-entry into prior range zone.


Merry Christmas!

Quoting GlobalMacro
Hi Malcolmb,

5 min is too low a TF for me, having said that though...the breakout (false as of now IMO) was very sharp...but all of a sudden selloff just evaporated...as long as bears cannot sustain further selling, this is to me nothing more than a knee-jerk reaction to some random news hitting the market...

bears at this point do have a real chance to show what they're made of, otherwise a very nasty Short Squeeze will be the only logical response...

Cheers

well.....bears had the chance but, but, but.....yep...they didn't take advantage of it....

and as I mentioned yesterday a Short Squeeze like we're seeing right now almost 200 pips is the only logical response to that inaction

alright...this backs up my hypothesis that we're in a bear trap...

I Will Continue To Carry My Long Position Set @ 1.5955
Attached Image
Hear the music before the song is over ...
  • #190,095
  • Dec 30, 2009 8:06am Dec 30, 2009 8:06am
Quoting malcolmb14
this is positioning for week going into New Year

they seem to pushing it up for no apparent reason in light volume trading session

gold is under support 1090

dx is close to resistance

ES turned off the top at 1123

so why the 140 pip move up GU ? makes no sense

This sound nuts but this move up may actually tell us their intent in the New year of selling the crap out of it.

I am off for now

Everyone have a great New Years ... be back next week
thank you for your explanation.. happy new year
Pation is the Holy Grail
  • #190,096
  • Dec 30, 2009 8:07am Dec 30, 2009 8:07am
Quoting Dr.Geppynius
for the average ff trader somewhere about -40 till -80%
Quoting malcolmb14
trading is 10% system and 90% mind set

a good return on fx can be achieved is 5% per month for a newer trader. Most new trader are so excited about trading they either press the buy sell button way to many time in a day or just do not wait for the right set up.

I know some in here do 5% in day blah blah blah. But lets see if they are still around trading in 5 years.

all traders have bad patches and losses. It is part of the game.

I achieve about 4% on account per week average including losses , but only take the very best trade set ups ( did...
Thanks..Dr.Geppynius & malcolm

I will set my target profit to 2-3% per week..
Patience + Discipline =
  • #190,097
  • Dec 30, 2009 8:11am Dec 30, 2009 8:11am
Quoting GlobalMacro
well.....bears had the chance but, but, but.....yep...they didn't take advantage of it....

and as I mentioned yesterday a Short Squeeze like we're seeing right now almost 200 pips is the only logical response to that inaction

alright...this backs up my hypothesis that we're in a bear trap...

I Will Continue To Carry My Long Position Set @ 1.5955
GM

have a great New year ...

only 120 pip dd I guess off 15955. Not to bad at all.

I think the gu move is bs ...look at all drivers of usd

gold under support
es came off high of day
and dx only retraced 10 cents of res

if anything this could be a bull trap set up ....maybe i am missing something. But something tells me this odes not smell right.

why else an odd move like this that does not jive with other market sectors... in low volume market right before year end

I guess only 2010 can tell us

Have a great New years party
Blogging daily now at www.volume.zone
  • #190,098
  • Dec 30, 2009 8:14am Dec 30, 2009 8:14am
I trade for fun. All the day I work in other business
Quoting malcolmb14
you are a complete arse

and btw 22% for the year is pathetic

THE S&P OUT PERFORMED YOU ...absolutely pathetic.

only an idiot would place their fund with you. Better if they ask me to look after their account , at least I can get them 10% per month
  • #190,099
  • Dec 30, 2009 8:15am Dec 30, 2009 8:15am
Quoting GlobalMacro
well.....bears had the chance but, but, but.....yep...they didn't take advantage of it....

and as I mentioned yesterday a Short Squeeze like we're seeing right now almost 200 pips is the only logical response to that inaction

alright...this backs up my hypothesis that we're in a bear trap...

I Will Continue To Carry My Long Position Set @ 1.5955

could be a daily set up forming where both bulls and bears win ....

Attached Image (click to enlarge)
Click to Enlarge Name: chart1533.png Size: 185 KB
Blogging daily now at www.volume.zone
  • #190,100
  • Dec 30, 2009 8:15am Dec 30, 2009 8:15am
Will we cover the gap at around 1.5930 and 1.5940? I'm short at 1.6020
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