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Cable Update (GBPUSD)

  • #193,461
  • Jan 15, 2010 5:34am Jan 15, 2010 5:34am
Quoting Bull_Bear
Does this remind you of what you do here?
Man this is a pretty good way to explain what's a stock! I'll send the link to my friends!!! LOL!!
  • #193,462
  • Jan 15, 2010 5:34am Jan 15, 2010 5:34am
My analysis still shows the feasilbility of 1.6380 before a pull back southside meanwhile the usd index is completing a minor wave 1 in the upside direction so i expect some weakness during news hourpreparing for gu and eu long..
  • #193,463
  • Jan 15, 2010 5:34am Jan 15, 2010 5:34am
Quoting ams
Hi BB,

Me as well..Can't afford that now. Almost got bankrupt when played with 10 lots last year

Played my first trade of the year matey holding short from 162700, 163500.
Always watch this thread for fun but contribution is mainly on DT's thread.

I reckon you are having a good start of the year?


ta
ams
LOL.... Enough for BEER MONEY TM
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #193,464
  • Jan 15, 2010 5:39am Jan 15, 2010 5:39am
Here we are since two days, Gu has been teasing with the market and enjoying the ride beofre a total collapse...

What I learned from my trading experience is that, the market periodically chnage its pattern so that it becomes difficult to understand using the basic technical strategies...If you trade daily without stop...you are bound to failure, because the market changes its pattern

The only way to survive the market is to trade two weeks and do not trade two weeks. So alternate your trading period for every other two weeks. So, two weeks you trade passionately, and two weeks you sit and observe the market and highlte the pattern change the market is making.

You can always use the basic strategy once you have the grip on the pattern...

The first two weeks of January, Gu was making a market upmove, then, gradually it started consolidating..if you are daily trader without stop it would be difficult to pause and change to shift gear in your trading style...Its like if you hit the highway 140 miles per hour, and hten suddenly you hit a different slippery road with narrow lanes, you will deffinetly turn the car over and crash to the walls
  • #193,465
  • Jan 15, 2010 5:45am Jan 15, 2010 5:45am
Quoting Jassim
Here we are since two days, Gu has been teasing with the market and enjoying the ride beofre a total collapse...

What I learned from my trading experience is that, the market periodically chnage its pattern so that it becomes difficult to understand using the basic technical strategies...If you trade daily without stop...you are bound to failure, because the market changes its pattern

The only way to survive the market is to trade two weeks and do not trade two weeks. So alternate your trading period for every other two weeks. So, two weeks...
100 agree wz u but no one can do zat, every1 want to make money quickly without patience , the right way is to know when enter and when exit from market ..
  • #193,466
  • Jan 15, 2010 5:54am Jan 15, 2010 5:54am
I some what agree!

It's like switching between shampoos, so your hair looks better. (i've been told that)

But as a daily trader you should always think that the market can always teach you and suprise you.

And when ever I analyse the market conditions, I always think and say to myself it can turn around today,tonight, or on my next trade.

I'm 100% with you, I'm from California I have been trading on and off for the past 5 years, at times it can drive you crazy staying up all night and morning, messes with your head and temper.
  • #193,467
  • Jan 15, 2010 5:57am Jan 15, 2010 5:57am
Quoting Mada001
100 agree wz u but no one can do zat, every1 want to make money quickly without patience , the right way is to know when enter and when exit from market ..
yep i'm waiting for that entry point if it goes up to 1.4400 i will short there.

Just got back from a club in Hollywood, my ears are ringing like crazy

Meet Chuck "Iceman" Luddell and saw the Jersey Shore crew from that dumb ass reality TV show.

Looks like i didn't miss much anyway maybe about 30-50 pip action, but what the hell i'm really happy from my tuesday trading
  • #193,468
  • Jan 15, 2010 6:11am Jan 15, 2010 6:11am
The current pattern is slippery tube going range bound. Inside the tube, the prices are moving with a super speed walll to wall,,its like nuclear electron is under firy reaction with a catalyst lit up...this might send the price to shoort up once the tube is open to 1.64xx level after observing for few days....I call this a danger zone...then it will naturally come down with ease and no tease....
  • #193,469
  • Jan 15, 2010 6:22am Jan 15, 2010 6:22am
Quoting forexlion
HA HA HA HA HA

Trade going on as planned
Damn right it is! Happy Camper
A pip is only worth it if you know how much you risked to earn it
  • #193,470
  • Jan 15, 2010 6:25am Jan 15, 2010 6:25am
Usually todays and past few days price actions environment is called Trader's Paradise...because you do multiple trades, and if you are managing some one else's money then you are bagging commission lot more frequently...But this is not a good environment if you are managing your own money
  • #193,471
  • Jan 15, 2010 6:36am Jan 15, 2010 6:36am
Fat lady seats on 1.6309/12 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #193,472
  • Jan 15, 2010 6:40am Jan 15, 2010 6:40am
Quoting vlady1974
Damn right it is! Happy Camper
vlady!

Long time. How are you?
Ghost Rider - WWTBMD?
  • #193,473
  • Jan 15, 2010 6:50am Jan 15, 2010 6:50am
Quoting albchr
vlady!
Long time. How are you?
Heya Chris!
Happy New Year mate!

I took a 4 month break: something called "Life"

I wasn't happy with my trading performance - I was scoring impressive wins, but just when I was approaching graduate consistency, I'd @*&^% it up. So only needed a few of those to knock me back and think things thru => didn't want to over-trade.

Started again (err... now that I'm a single man again) with a Demo account to try out some disciplined strategies which are so far paying off. Am also trying to factor in some fundy info which GM has influenced me on. Currently reading "Bird Watching in Lion Country" which is a great mix of this.

Anyways, I saw you open your own thread! Congrats! I've only skimmed thru, but I remember I so related to your journey - we is brothers from another broker! Gonna catch up on it though, cos I really dig your trading style as well. Hope the pips are coming in consistently!

Well how about that.... last night I was moping that I hadn't seen all you guys and now you all come out to play.... makes me fuzzy

LOL
A pip is only worth it if you know how much you risked to earn it
  • #193,474
  • Jan 15, 2010 6:53am Jan 15, 2010 6:53am
sell limit @ 1.6320
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #193,475
  • Jan 15, 2010 7:01am Jan 15, 2010 7:01am
Quoting omiunu
sell limit @ 1.6320
Great but on what basis my friend?
Don't tell me how much you can earn. Tell me how much you may lose..
  • #193,476
  • Jan 15, 2010 7:14am Jan 15, 2010 7:14am
Quoting EliteFX
Great but on what basis my friend?


INTUITION. Past behavior of price around certain areas & S+R Bases on my 1. 2, 1.2 candlestick system.
SCARED MONEY NEVER DOES GOOD IN FOREX
  • #193,477
  • Jan 15, 2010 7:18am Jan 15, 2010 7:18am
Quoting omiunu
INTUITION. Past behavior of price around certain areas & S+R Bases on my 1. 2, 1.2 candlestick system.
Plus you have good resistance around 1.6330 (upward, hourly closed price trend line that was recently broken)
Don't tell me how much you can earn. Tell me how much you may lose..
  • #193,478
  • Jan 15, 2010 7:18am Jan 15, 2010 7:18am
Prepare your self for the downward momentum.
  • #193,479
  • Jan 15, 2010 7:19am Jan 15, 2010 7:19am
Few days ago I told that I am ready to short cable around weekly fib 50.

I did it at 6340, and closed according to plan at +50. Later it it went back and tested 6357. There I shorted it again, at @6350. +50pips, again.

I don't want to blow my trumphet here, the only reason I shared it that I know that we are (or have been?) in uptrend (the last 5 daily candles are green), but shorts can also work if you keep yourself to your plan. and to your MM, of course

so go on bulls/bears, buy the dips, sell the tops and always use StopLoss!

GL all
  • #193,480
  • Jan 15, 2010 7:22am Jan 15, 2010 7:22am
I'm buying +13 for now. I think bad news for usd will come (75% chance is my guess). Why? Fundamentals, the economy is just going out of recesion, i said this in another post, Bernanke said mixed data is expected. I think good news will come later this year but not now.

Still, maybe bad news is already priced as it happened a few days ago.

Just a feeling.

Now I can only pray
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