u will ..but u gotta take notice of the big picture otherwise its impossible bro
http://i648.photobucket.com/albums/u.../trade2-35.gif
today price broke the low and the broke the high..what does that tell u..?
Not a lot.
Cable Update (GBPUSD)
- #206,601
- Mar 16, 2010 1:23pm Mar 16, 2010 1:23pm
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
Not a lot.
- #206,602
- Mar 16, 2010 1:26pm Mar 16, 2010 1:26pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
Of the Swissy
@pawpaw1000 on Twitter
- #206,605
- Mar 16, 2010 1:27pm Mar 16, 2010 1:27pm
Sold Cable @ 1.5258 SL 1.5287. I've been roasted on shorts today so i guess this is my opportunity to recover my lost PIPS. Target is +80 PIPS in this trade. Let's Hope it Plays well. Anyone with me?
- #206,606
- Mar 16, 2010 1:28pm Mar 16, 2010 1:28pm
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
- #206,607
- Mar 16, 2010 1:43pm Mar 16, 2010 1:43pm
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #206,610
- Mar 16, 2010 1:58pm Mar 16, 2010 1:58pm
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
[quote=Bydyke;3556559]
Not true.
Trading cable is just like any other pair. No difference.
The problem is, newbies do not take enough time to learn, plain and simple. Most of them just revert to simple guesses such as "it's gone up so much, surely it must come down". This is not directed to anyone in particular, but how many times was this said from the bounce since fo when people were trying to pick tops? Not just the newbies, some of the supposedly seniors were doing the same too, they didn't try to sound like they were making simple guesses, even worse, they were sounding out absolutes, like the bear trend will resume, cable won't pass 5180. Cable will tank to 4400 with George Soros (this one's my favourite)
The fact is, cable surge today came as no surprise. Look at the daily dx, I posted many times ago there was a bearish divergence building for 3 weeks, yesterday it kicked in & today dx spirals. The twins on the cable weekly, the cable daily, heck even after the drop at fo the cable H4 closed a massive hammer. There was absolutely no selling pressure. You don't need all the indicator mumbo jumbos to be able to interpret basic price action, just basic candle understanding & s/r levels is enough ... providing you do take your time to learn instead of gambling thinking you're trading.
Sorry for the rant but I've been down this road before and I can tell you it's absolutely pointless trading this way because you will fail.
To the newbies who really want to learn how to trade properly, (no, demo trading for 6 months does not qualify you even close to know what the market is all about), stay away from the Interactive Section of the factory. You will learn very little.
I highly recommend the newbies who care to go to Wayne Jackson's thread or J16's thread to learn. If you have to stay here, don't listen to anyone posting calls. Most of them are bs. So many people sold earlier today, only posted their entry, never posted their stop, not even a chart to assist. I bet you my finger if you ask most of them will tell you they got out at BE. Yea right.
Anyway,
Link:
Wayne Jackson:
1. http://www.forexfactory.com/showthread.php?t=27286
J16:
1. http://www.forexfactory.com/showthread.php?t=2331
Good luck.
being a newbie is tough...
If u are a newbie, avoid GBPUSD like a plague. Concentrate on more predictable pairs like EURUSD, USDCHF and AUDUSD.
No matter how much u try, u cannot, for instance explain why GU burst the roof today. Now, one would not be surprised if it gives back most of what it gained today, come tomorrow.
That is GU for u
Trading cable is just like any other pair. No difference.
The problem is, newbies do not take enough time to learn, plain and simple. Most of them just revert to simple guesses such as "it's gone up so much, surely it must come down". This is not directed to anyone in particular, but how many times was this said from the bounce since fo when people were trying to pick tops? Not just the newbies, some of the supposedly seniors were doing the same too, they didn't try to sound like they were making simple guesses, even worse, they were sounding out absolutes, like the bear trend will resume, cable won't pass 5180. Cable will tank to 4400 with George Soros (this one's my favourite
)The fact is, cable surge today came as no surprise. Look at the daily dx, I posted many times ago there was a bearish divergence building for 3 weeks, yesterday it kicked in & today dx spirals. The twins on the cable weekly, the cable daily, heck even after the drop at fo the cable H4 closed a massive hammer. There was absolutely no selling pressure. You don't need all the indicator mumbo jumbos to be able to interpret basic price action, just basic candle understanding & s/r levels is enough ... providing you do take your time to learn instead of gambling thinking you're trading.
Sorry for the rant but I've been down this road before and I can tell you it's absolutely pointless trading this way because you will fail.
To the newbies who really want to learn how to trade properly, (no, demo trading for 6 months does not qualify you even close to know what the market is all about), stay away from the Interactive Section of the factory. You will learn very little.
I highly recommend the newbies who care to go to Wayne Jackson's thread or J16's thread to learn. If you have to stay here, don't listen to anyone posting calls. Most of them are bs. So many people sold earlier today, only posted their entry, never posted their stop, not even a chart to assist. I bet you my finger if you ask most of them will tell you they got out at BE. Yea right.
Anyway,
Link:
Wayne Jackson:
1. http://www.forexfactory.com/showthread.php?t=27286
J16:
1. http://www.forexfactory.com/showthread.php?t=2331
Good luck.
Thank You 
- #206,617
- Mar 16, 2010 2:35pm Mar 16, 2010 2:35pm
[quote=wormboy;3556671]
That sir, was excellent 
Not true.
Trading cable is just like any other pair. No difference.
The problem is, newbies do not take enough time to learn, plain and simple. Most of them just revert to simple guesses such as "it's gone up so much, surely it must come down". This is not directed to anyone in particular, but how many times was this said from the bounce since fo when people were trying to pick tops? Not just the newbies, some of the supposedly seniors were doing the same too, they didn't try to sound like they were making simple guesses,...
- #206,618
- Mar 16, 2010 2:39pm Mar 16, 2010 2:39pm
[quote=JRoyal;3556732]
Learnt a lesson from Wormie... "Don't beat the trend ride the Trend" thats phrased by me. "The trend is your friend" is actually the first lesson I learnt here... 2 years later it still feel like lastnite...
That sir, was excellent
Learnt a lesson from Wormie... "Don't beat the trend ride the Trend" thats phrased by me. "The trend is your friend" is actually the first lesson I learnt here... 2 years later it still feel like lastnite...
- #206,619
- Mar 16, 2010 2:41pm Mar 16, 2010 2:41pm
i wanna go short right now as price is sitting right at the peak, high of today. there wont be much movement for next 10 hours i know, but will it retrace a bit from here ?? i dont see it making a new high in the next 10 hours. i just dont want it to go any higher than 1.5256, and i dont have the balls to go short lol
- #206,620
- Mar 16, 2010 2:49pm Mar 16, 2010 2:49pm
just went up to 5259......
I will go short just before the news
