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Cable Update (GBPUSD)

  • #202,901
  • Mar 2, 2010 9:46am Mar 2, 2010 9:46am
Quoting wormboy
hola millionaires

hey bro salam hope u are doing well
  • #202,902
  • Mar 2, 2010 9:47am Mar 2, 2010 9:47am
Quoting wormboy
yup, that 200ema on the m5 is very efficient no doubt. it's already in my bag of tricks
yea bailed a bit early on cable but rode the dragon all the way to the mud
but no, no scalping for the past few days, i've been sober lol
I bought cable earlier tho & holding now that it's safe.
ah ha ha ha sober thats a good one lol, well you have to be a good example now
  • #202,903
  • Mar 2, 2010 9:50am Mar 2, 2010 9:50am
all the room on crack-forex
  • #202,904
  • Mar 2, 2010 9:56am Mar 2, 2010 9:56am
Quoting kill56
hey bro salam hope u are doing well
wsalam kill. All good. I know you are doing very well with those shorts
welp, later. good luck everyone!
Thank You
  • #202,905
  • Mar 2, 2010 9:57am Mar 2, 2010 9:57am
Quoting JRoyal
I've spent alot of times studying charts like most others on this board. I couldn't explain my methodology in just a few sentences but basically what I've learned is that pros enter positions based on targets and amateurs wait for a lot of confirmation. When a low is put in like yesterday at a high probability reversal point (61% fibo) retraces to a point (50%) level then begins to fall but fails to make a new low. That's weakness.

You could wait until the market moves and in that direction on longer times frames and wait for indicators to tell...
Hit the nail on the head. You obviously trade full time. Excellent post.
  • #202,906
  • Mar 2, 2010 9:59am Mar 2, 2010 9:59am
magix u are right bro the darn yanks did it
  • #202,907
  • Mar 2, 2010 10:04am Mar 2, 2010 10:04am
for me... we have to close on the 1hr above 500 and get confitmation before I'm closing my short and change my bais to long... (no charts, send from mobile)
I was taken out by the market earliar and my long scalp did not work... shorts in @ 907.... where is that STEEL BALS AGAIN
  • #202,908
  • Mar 2, 2010 10:05am Mar 2, 2010 10:05am
Quoting kill56
magix u are right bro the darn yanks did it
hey come on, I got out 20 pips ago
  • #202,909
  • Mar 2, 2010 10:08am Mar 2, 2010 10:08am
Quoting kill56
magix u are right bro the darn yanks did it
hi Kill, any sign of this pull would be making a better shorting position by the yanks? I just can't see the down trend could be reversed within this week. thanks.
  • #202,910
  • Mar 2, 2010 10:09am Mar 2, 2010 10:09am
can this fire gbp up?


http://www.forexfactory.com/news.php?do=news&id=223685
The Bank of England said it plans to sell three-year bonds in dollars to finance its foreign-exchange reserves. The U.K. central bank hired Barclays Capital, BNP Paribas SA, Goldman Sachs Group Inc. and JPMorgan Chase & Co. to manage the issue, which will be benchmark in size, it said in a statement. The bank paid 106.2 basis points more than Treasuries when it issued $2 billion of three-year notes in March last year, according to data compiled by Bloomberg. “The notes will likely receive good investor appetite seeing that it’s a AAA rated name,” said Trevor Welsh, a portfolio manager at London-based Aviva Investors, which manages about 10.5 billion pounds ($14 billion) of...
  • #202,911
  • Mar 2, 2010 10:11am Mar 2, 2010 10:11am
Quoting nek17
hi Kill, any sign of this pull would be making a better shorting position by the yanks? I just can't see the down trend could be reversed within this week. thanks.

if we dont break the high we are going back down
  • #202,912
  • Mar 2, 2010 10:12am Mar 2, 2010 10:12am
Quoting digger1
hey come on, I got out 20 pips ago

not bad bro happy for u keep hiting the b;;;;;;;;;;;;;;h
  • #202,913
  • Mar 2, 2010 10:13am Mar 2, 2010 10:13am
Quoting Ineedpips9
As a newbie/amateur, this sounds pretty similar to what I've been doing. Don't know exactly what phrases like reversal point and fibonocci retrace are because I have A LOT of learning to do, but because math is such a hobby of mine that I've decided to go back to school for a degree, forex has been the best outlet for me.

While trying to find reliable sources without getting my head cut off for asking, I've been trading off the 200 day simple moving average. I've finally obtained an indicator that alerts me when the price crosses 10 pips over...
Moving averages are good for newbies to identify market direction but they are lagging indicators. The market moves in fractals. Example: if the direction is down 100 pips, then retrace back up 50 pips and then go another 100 pips down. That is pretty much what price does 90% of the time. Your only job is to find out if the main direction is up or down and if the current movement is part of the retrace or the actuall trend direction.

The next thing is to figure out what time frame your aiming to trade. Price pretty much does the same thing on all times frames but larger time frames trump shorter time frames. So the big key is to understand this principle while incorporated all the times frames so you basically have a road map of price. You'll never be 100% right all the time but it it's alot easier to go cross country with a map then to just trying to read the signs as you go.
  • #202,914
  • Mar 2, 2010 10:15am Mar 2, 2010 10:15am
Quoting digger1
hey come on, I got out 20 pips ago
You missed the 1m trigger.

Oops.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #202,915
  • Mar 2, 2010 10:20am Mar 2, 2010 10:20am
Quoting JRoyal
Moving averages are good for newbies to identify market direction but they are lagging indicators....
This guy is obviously right, and has definitely checked his ego at the door.

I apologize to anybody who has been making money watching moving averages, and would like to add to this by saying, We all suck.

Sorry guys.

Let's listen to this guy.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #202,916
  • Mar 2, 2010 10:21am Mar 2, 2010 10:21am
Quoting Magix
You missed the 1m trigger.

Oops.

attention span is waning lol, my day has been good , just playing with small posistions now all is good
  • #202,917
  • Mar 2, 2010 10:22am Mar 2, 2010 10:22am
Quoting direct-trade
Hit the nail on the head. You obviously trade full time. Excellent post.
Thank you sir. I do trade full time but most importantly I'd estimate I've spent over 15,000 hr's analyzing the GBPUSD chart and even more $$ trying to figure this thing out. It's not easy but with enough effort you find high probability scenarios and over time you learn you have just to trade them.

I tell my wife all the time, I make all the money in Forex on the weekends when I spend 20 hrs of my weekend going back over my charts and learning, not when I pull the trigger during the week.
  • #202,918
  • Mar 2, 2010 10:25am Mar 2, 2010 10:25am
Quoting Magix
This guy is obviously right, and has definitely checked his ego at the door.

I apologize to anybody who has been making money watching moving averages, and would like to add to this by saying, We all suck.

Sorry guys.

Let's listen to this guy.
I didn't say that moving averages weren't good for experienced traders as well. I have a 50 and a 200 on my chart too! I think for newbies it's good to have a bias and not be overwhelmed by all the price action so by default if I was to pick maybe the most important indicator for them I would say a moving average is good. That's all I was saying, don't be read into my comment as taking a shot at you or anyone else who uses moving averages.
  • #202,919
  • Mar 2, 2010 10:26am Mar 2, 2010 10:26am
Quoting JRoyal
Thank you sir. I do trade full time but most importantly I'd estimate I've spent over 15,000 hr's analyzing the GBPUSD chart and even more $$ trying to figure this thing out. It's not easy but with enough effort you find high probability scenarios and over time you learn you have just to trade them.

I tell my wife all the time, I make all the money in Forex on the weekends when I spend 20 hrs of my weekend going back over my charts and learning, not when I pull the trigger during the week.
Watching movement is important. There was a regular poster here with the same philosophy, playing the obvious moves...I believe he is still holding longs from 1.5840 for the retrace to 1.65.
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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #202,920
  • Mar 2, 2010 10:28am Mar 2, 2010 10:28am
Quoting JRoyal
I didn't say that moving averages weren't good for experienced traders as well. I have a 50 and a 200 on my chart too! I think for newbies it's good to have a bias and not be overwhelmed by all the price action so by default if I was to pick maybe the most important indicator for them I would say a moving average is good. That's all I was saying, don't be read into my comment as taking a shot at you or anyone else who uses moving averages.
Honestly mango,

IT was a shot. And a pretty blatant one as well.

But it's okay...I am an amateur. I am a hobbiest.

I do things on a shorter time frame, play with confirmation and still keep up with the best.

There are several ways to skin a cat, I pick mine, you pick yours, as long as we both win in the end, all good right?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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