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Cable Update (GBPUSD)

  • #206,621
  • Mar 16, 2010 4:55pm Mar 16, 2010 4:55pm
Quoting solrac
just went up to 5259......

"Don't beat the Trend just ride the Trend" Ha!!
  • #206,622
  • Mar 16, 2010 5:00pm Mar 16, 2010 5:00pm
Quoting Honored
lol glad i didnt go short. I think most likely it will start climbing up till 1.5287 or 300 for next 12 hrs and then the 'jobless claims' new will drop it down to 1.5150.
I will go short just before the news

Look like people don't learn from past experience... The r
trend is UP and it going on for days.
  • #206,623
  • Mar 16, 2010 5:05pm Mar 16, 2010 5:05pm
This is bound to break the resistance on the next attempt up then probably will drift higher over night. I doubt we will see any real action down untill london open. Now is not the time to short too risky.
Former Trader Of the Year of the 95% losing club! Retired
  • #206,624
  • Mar 16, 2010 5:06pm Mar 16, 2010 5:06pm
Absolutely uncanny! Or do I see what I want to see. Mind you the M5 chart is exactly the same. 90 pips today (no losses) - not bad for a newbie.

First post - chart should be attached... in theory.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDM1.jpg Size: 67 KB
  • #206,625
  • Mar 16, 2010 5:07pm Mar 16, 2010 5:07pm
[quote=wormboy;3556671]
Quoting Bydyke

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,...
he is right i think gbp is funny at times actualy i use to hate trading it but is begining to really understand it
  • #206,626
  • Mar 16, 2010 5:12pm Mar 16, 2010 5:12pm
[quote=wormboy;3556671][quote=Bydyke;3556559]

Not true.
Trading cable is just like any other pair. No difference...

U are not helping the newbies by insisting that GU is like any other pair. Infact, it is like stating also that GBPJPY is like any other pair.

Let us use today as a case study. Everybody knows that GU and EU are strongly correlated. Between 700 and 800 GMT today, GU plummeted by about 60 pips. In the same period, EU fell by about 30 pips. Infact, the Daily Range says it all. Whereas GU recorded 281 pips today, EU is a distant 120 pips.

I agree with you that most newbies have the wrong approach but this Forum is very helpful to them. U cannot become a good forex trader if u don't trade with a system. The system can be custom-made or copied. The Forum helps u to fine-tune that system through the heavy cross-fertilization of ideas that are prevalent here.

Today, Baby Trader is one the best traders on this Forum. He has come out to say that he learnt all the necessary things from this forum.

So, the newbies are welcome. What is not right is for them to be seeking for the entry and exit points of other traders without knowing how they were obtained. When u have developed ur own system, the inputs of members of the forum can now strengthen ur position.
  • #206,627
  • Mar 16, 2010 5:16pm Mar 16, 2010 5:16pm
Still currently Long on the Cable from 1.5059 with a portion of my position. I have already taken 1st profits out @ 1.5195. I have now moved my Stop Loss on the remainder of my position up some more to lock in further profit. Stop Loss is now @ 1.5171 (+112 pips). Looking to take the rest of my profits out @ 1.5343 if price can reach there before taking me out with my stop.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-4h.jpg Size: 134 KB
  • #206,628
  • Mar 16, 2010 5:20pm Mar 16, 2010 5:20pm
[quote=wormboy;3556671]
Quoting Bydyke

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,...
Newbies pick it up quickly. Thanks to wormboy, could not have been said in a more precise way....



Kind regards
Mkashif
  • #206,629
  • Mar 16, 2010 5:30pm Mar 16, 2010 5:30pm
Quoting Rgali1
This is bound to break the resistance on the next attempt up then probably will drift higher over night. I doubt we will see any real action down untill london open. Now is not the time to short too risky.
I agree with u
  • #206,630
  • Mar 16, 2010 5:59pm Mar 16, 2010 5:59pm
Any thought on Tokyo opening??? Trading is real thin
  • #206,631
  • Edited 6:21pm Mar 16, 2010 6:04pm | Edited 6:21pm
picking a pair to trade is a choice...,like we pick a TF..,
each pair have their own 'habit'.
till now (from demo to live) i ever trade all major pair, but lately i decide GU as main trade, cos i think this pair is the 'fox den' ..so it would be nice to trade 'in the home'...
some of us confirm this pair to other pairs, like they say "if EU down GU will down also"

i don't know if it's true or not, cos i never do that. i see GU chart only...(i did't say that's bad)
some time i think it's good to see other pairs to confirm too...,or some people say DX still Down bla bla bla...DX Up bla bla bla... till now i even don't know what Dx is.. is that a cake or something???
as long as i make profit i don't want to fill out all my brain with chart only...
i just want to make it simple. i trade GBP/USD .
I will be the number one Manager.
  • #206,632
  • Mar 16, 2010 6:43pm Mar 16, 2010 6:43pm
buy sell south north east west put a dam stop loss after the 3 loss's get u azz out of the market relax rethink where it did go wrong is it u or the market or somebody elss take u time allways the market is there open 24h 5 days a week happy piping
  • #206,633
  • Mar 16, 2010 6:48pm Mar 16, 2010 6:48pm
well who's going west or east room come on have fun lets learn from the good ppl in the best thread in FF
  • #206,634
  • Mar 16, 2010 6:56pm Mar 16, 2010 6:56pm
double top and down? trend to strong for it to be valid?
Attached Image (click to enlarge)
Click to Enlarge Name: double top.jpg Size: 131 KB
  • #206,635
  • Mar 16, 2010 7:00pm Mar 16, 2010 7:00pm
Quoting kill56
buy sell south north east west put a dam stop loss after the 3 loss's get u azz out of the market relax rethink where it did go wrong is it u or the market or somebody elss take u time allways the market is there open 24h 5 days a week happy piping
are you 'spell' some mantra to make the price go to your way kill???


btw, what is 'ppl' kill?? you keep say that and i don't know what is that...
I will be the number one Manager.
  • #206,636
  • Mar 16, 2010 7:01pm Mar 16, 2010 7:01pm
well DT on h4 this is my plan for today sell buy below and above lines might be wrong
Attached Image (click to enlarge)
Click to Enlarge Name: h4 cable.gif Size: 18 KB
  • #206,637
  • Mar 16, 2010 7:03pm Mar 16, 2010 7:03pm
Quoting javapips
are you 'spell' some mantra to make the price go to your way kill???


btw, what is 'ppl' kill?? you keep say that and i don't know what is that...
I think he means PEOPLE
  • #206,638
  • Mar 16, 2010 7:05pm Mar 16, 2010 7:05pm
Quoting javapips
are you 'spell' some mantra to make the price go to your way kill???


btw, what is 'ppl' kill?? you keep say that and i don't know what is that...

well i did learn the voodoo from wormy and he did teach me a good spell ppl = people the nice ones realy i love the zulu if u know how to use it for short term trading
  • #206,639
  • Mar 16, 2010 7:10pm Mar 16, 2010 7:10pm
Quoting kill56
well i did learn the voodoo from wormy and he did teach me a good spell ppl = people the nice ones realy i love the zulu if u know how to use it for short term trading

ups..it's dangers when talking about wormy and his voodoo, i give up.. ....
I will be the number one Manager.
  • #206,640
  • Mar 16, 2010 7:13pm Mar 16, 2010 7:13pm
Hallo Mr Dogol There...,why not come here and just chat? are you not bored lonely there?? talking about something will be nice...
I will be the number one Manager.
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