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Cable Update (GBPUSD)

  • #198,381
  • Feb 7, 2010 3:48pm Feb 7, 2010 3:48pm
Quoting Undertaker
why you don't post the indicator setting!?!?!?...big secret!?!?!?
It sure is.

Good luck
I trade what I see on my charts. Do Not listen to the Muppets.
  • #198,382
  • Feb 7, 2010 3:50pm Feb 7, 2010 3:50pm
Quoting Magix
...but after having visited a few other G/U threads, I am starting to understand why.
I see plays posted that are beyond obscene, and charts posted with zero relevance, and a lot by those considered senior traders. One thread in particular, I seen some fool boast about having started to build longs above the 1.58 area.
Cummon guys, if a play runs past you a few hundred pips, should you really be coaching others?

This "Fool" Bought at 15840, 15690, 15590. Mind you, this "Fool" Sold at 160, 161, 162, 163, 164 and cashed in on last week's fall whilst others were still calling him a "fool". I know your post is directed at me seeing as I banned you from my thread a few months ago for the same ridiculious statements.

I am sure you may understand the difference between LONG TERM, MID TERM and SHORT TERM TRADES?

A "Fool" thinks in pips, a professional thinks in percentage risk of trading capital per trade. For example, a 200-300 pip drawdown when looking for 1000-1500 pips is a risk/reward of 3:1, a risk of 3:1 at 0.25% risk capital per position with a large SL and holding 3 positions equals a total potential loss of 0.75% should the trade not work out. However, a total gain of 2.25% if all goes well. Add to that the daily scalping, mid term trades and various currency pairs, futures etc which aren't discussed, I'm sure this "fool" who makes a full time living from FX isn't here to "COACH", but to share thoughts and trading ideas.


Just making my "fool's" thought clear on this.

Good luck "COACH"
  • #198,383
  • Feb 7, 2010 3:51pm Feb 7, 2010 3:51pm
Quoting Magix
Divergence, or incomplete picture?

The slope of the immediate is up, only divergence if we top out here and correct to downside. The same argument could have been made on every bar up to this, and you would have been wrong on each of them.

Assumption can lead to death.

Just my opinion.
I could be wrong. But then again, maybe not.
We will have to see....
As I said, I will be watching.
I trade what I see on my charts. Do Not listen to the Muppets.
  • #198,384
  • Feb 7, 2010 4:03pm Feb 7, 2010 4:03pm
Quoting direct-trade
This "Fool" Bought at 15840, 15690, 15590. Mind you, this "Fool" Sold at 160, 161, 162, 163, 164 and cashed in on last week's fall whilst others were still calling him a "fool". I know your post is directed at me seeing as I banned you from my thread a few months ago for the same ridiculious statements.

I am sure you may understand the difference between LONG TERM, MID TERM and SHORT TERM TRADES?

A "Fool" thinks in pips, a professional thinks in percentage risk of trading capital per trade. For example, a 200-300 pip drawdown when...
I'm banned from your thread? Really? Never had the mind to actually post anything there, you guys already know it all.

Congrats on the winning trades, hope they hold you for the rest of the ass kicking you will take playing the same strategy in weeks to come.

My comments though did touch on you buying the top of the buy back, aren't completely specific to you, but hey, if the shoe fits....

I am amused that you feel it necessary to justify dogshit trading to me. I am even more so amused that others will most certainly take your back on this. I have always fancied the passengers sinking in the ship with their captain.

Good luck in the trades.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #198,385
  • Feb 7, 2010 4:28pm Feb 7, 2010 4:28pm
Quoting direct-trade
I banned you from my thread a few months ago for the same ridiculious statements.

I For example, a 200-300 pip drawdown when looking for 1000-1500 pips is a risk/reward....blah blah blah blah blah
Lemme get this straight...

So, your current topside target is 1000-1500 from your buy @ 1.5840?

Lemme pull out my calculator...

That'd give the chart a top @ about 1.6840-1.7340?

Seriously?

This is your forecast?

When is this supposed to happen?

And in your words to Baby Trader...What is your stop loss?

In the current trend, you might not see your topside trade go green mango, retrace on the daily is right about B/E according to my charts, but who even knows if we finished the downside plummet on this leg yet?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #198,386
  • Feb 7, 2010 4:28pm Feb 7, 2010 4:28pm
I am LONG with a 50% retrace target of 1.60

@ 1.60 I will re-enter shorts to targets lower than 1.54
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 20 KB
  • #198,387
  • Feb 7, 2010 4:38pm Feb 7, 2010 4:38pm
...............
Attached Image
Don't tell me how much you can earn. Tell me how much you may lose..
  • #198,388
  • Edited 5:39pm Feb 7, 2010 4:40pm | Edited 5:39pm
Quoting Magix
...., hope they hold you for the rest of the ass kicking you will take playing the same strategy in weeks to come.
Quote
I am amused that you feel it necessary to justify dogshit trading to me. I am even more so amused that others will most certainly take your back on this. I have always fancied the passengers sinking in the ship with their captain.



I was rather hoping for an educated debate on dows theory cyclic market dyamics interspaced with Delta wave and various position adjustment strategies to match, but wasn't quite forthcoming, was it? lol.

Never mind, I wonder why you continue to enjoy slagging off those who are Long with Mid term/Long term outlooks from these levels.

Current price GU 15597, G/J 13927.

I'll bring up your childish comments stating my Long trades "will have thier ass kicked" and my "dogshit trading" again when my profit levels are hit.

In the meantime, I draw your attention to Forex Factory Forum's Rule Number 1:

Respect Thy Fellow Trader

As a Forex Factory member, you are expected to treat others with respect and kindness. Mean-spiritedness, fighting, hostility, racism, offensive comments, and slander are all subject to removal. Healthy debate is welcome.

Forex Factory is based on respect and kindness and allows interaction and sharing based on goodwill to others, whereas your posts are completely the opposite. I would kindly ask you to read the above rule and bear it in mind in future.

Good Day to you and all the best with your trades.
  • #198,389
  • Feb 7, 2010 4:45pm Feb 7, 2010 4:45pm
Quoting direct-trade
This "Fool" Bought at 15840, 15690, 15590. Mind you, this "Fool" Sold at 160, 161, 162, 163, 164 and cashed in on last week's fall whilst others were still calling him a "fool". I know your post is directed at me seeing as I banned you from my thread a few months ago for the same ridiculious statements.

I am sure you may understand the difference between LONG TERM, MID TERM and SHORT TERM TRADES?

A "Fool" thinks in pips, a professional thinks in percentage risk of trading capital per trade. For example, a 200-300 pip drawdown when looking...
just keep collecting money and don't give a damn to what is posted on forums
  • #198,390
  • Feb 7, 2010 4:46pm Feb 7, 2010 4:46pm
Quoting Baby-Trader
I'll not debate with you.

see my prediction for this large fall to 1.55 and more. starting from 19 dec 2009.

Anyway this is my last post on this thread.
Well dude, your prediction wasn't to far off, and for what it is worth, I don't want to see anybody get hurt in their trading.

The issue in particular I have is with a lot of the crap that is being spread, and sadly, you fell into the mix.

You seen where we were headed, but, you chose to align yourself with traders rather then trades. This is where your issue is.

I know you have gained a lot of respect in here, and have helped others to victorious trades, and really, I hold no animosity directly towards you, and even on a more serious note, wish you the success and fortune that you could only dream of and imagine for yourself.

Shake it off. It's a loss.

It might be hard to gain your own confidence back, but when you do, you will always remember the lesson you learned.

It's not that you have failed on a trade that determines your fate, it is what you do after that is of utmost importance.

2 things that I have learned...

1. Do what you were going to do, no matter what anybody says. The decision is yours, right or wrong. In doing this, your long term longevity in trading will only gain.
2. Don't play the games that others play, always having to be right, or needing pacification from those around them. Remember you are in this for your own personal gain, not for popularity.



Wish you well
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #198,391
  • Feb 7, 2010 4:49pm Feb 7, 2010 4:49pm
Quoting forexlion
just keep collecting money and don't give a damn to what is posted on forums
Exactly. I'm finished with this thread and will continue to post here: http://www.forexfactory.com/showthread.php?t=199926

See you at 1.6000

All the best.
  • #198,392
  • Feb 7, 2010 4:54pm Feb 7, 2010 4:54pm
Quoting direct-trade
Exactly. I'm finished with this thread.

See you at 1.6000

All the best.
Well, aren't you ambitious.
  • #198,393
  • Feb 7, 2010 4:58pm Feb 7, 2010 4:58pm
Quoting Clouds
Well, aren't you ambitious.
don't know about him, but I am definitely ambitious
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  • #198,394
  • Feb 7, 2010 5:01pm Feb 7, 2010 5:01pm
Quoting direct-trade
Exactly. I'm finished with this thread.

See you at 1.6000

All the best.
Wait a second, 1.6?

You question my ability to hold a valid argument based on your relevance...talk to me about your 1000-1500 pip plays, and then target 160 pips?

What was your r2r on this?

Let's move on.

You have made open forum a place to openly attack me...The only reason you are in this current discussion, is because you felt it proper to defend bad positions, which you are now seemingly questioning yourself, which, by the way, I never mentioned you by name, if you feel it proper to always answer to the moniker "Fool", do as you must.

You have been finished with this thread several times over, and personally, with contradictory statements like the previous, it probably best you were finally finished here, lead your pack of merry bandits, and cross fingers with all the other hopefuls that will most likely soon meet their market demise.

By any standard, and going with your logic, as a newbie to market, it would be best to coin toss the trades then read through your tripe.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #198,395
  • Feb 7, 2010 5:03pm Feb 7, 2010 5:03pm
Train is leaving get in...
  • #198,396
  • Feb 7, 2010 5:05pm Feb 7, 2010 5:05pm
Quoting Magix
Wait a second, 1.6?

You question my ability to hold a valid argument based on your relevance...talk to me about your 1000-1500 pip plays, and then target 160 pips?

What was your r2r on this?

Let's move on.

You have made open forum a place to openly attack me...The only reason you are in this current discussion, is because you felt it proper to defend bad positions, which you are now seemingly questioning yourself, which, by the way, I never mentioned you by name, if you feel it proper to always answer to the moniker "Fool", do as you must.

You...
I have a very bad reputation with the suspend button, kindly stop the argument and return back to constructive forex trading.
  • #198,397
  • Feb 7, 2010 5:05pm Feb 7, 2010 5:05pm
Quoting Magix
Well dude, your prediction wasn't to far off, and for what it is worth, I don't want to see anybody get hurt in their trading.
The issue in particular I have is with a lot of the crap that is being spread, and sadly, you fell into the mix.
Thanks Magix for your words.
The lose didn't hurt nor affect my self confidence.
also I do not enter trades based on someone's calls nor playing games that others play.
I found some failures in my system which prevent me from seeing things as quickly as possible.

When I was reviewing charts in the weekend I added a new equation to my system and when I applied it on the charts I saw the way to 1.56 when the price was @1.62

I discussed it with an experienced trader through private chat.

BTW, wish you have a good trades and green pips.
  • #198,398
  • Feb 7, 2010 5:09pm Feb 7, 2010 5:09pm
Quoting Baby-Trader
Thanks Magix for your words.
The lose didn't hurt nor affect my self confidence.
also I do not enter trades based on someone's calls nor playing games that others play.
I found some failures in my system which prevent me from seeing things as quickly as possible.

When I was reviewing charts in the weekend I added a new equation to my system and when I applied it on the charts I saw the way to 1.56 when the price was @1.62

I discussed it with an experienced trader through private chat.

BTW, wish you have a good trades and green pips.
Kind Sir, Kindly drop the argument, lets get back to sweeping money, we got a bank to clean remember.
  • #198,399
  • Feb 7, 2010 5:10pm Feb 7, 2010 5:10pm
Quoting forexlion
I have a very bad reputation with the suspend button, kindly stop the argument and return back to constructive forex trading.
Then allow me to only quote....
http://www.forexfactory.com/showpost...stcount=193558

Quoting forexlion
stick that in yer A..
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #198,400
  • Feb 7, 2010 5:15pm Feb 7, 2010 5:15pm
Quoting Magix
Then allow me to only quote....
http://www.forexfactory.com/showpost...stcount=193558
I never completed that sentence, so logically its all what you imagine

Not my fault
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