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Cable Update (GBPUSD)

  • #213,501
  • Apr 6, 2010 1:21pm Apr 6, 2010 1:21pm
Quoting gammase1
New trade: Long cable @ 15278, s/l @ 15215, t/p @ 15368

Good night
That is a high risk long as the range has been below 53 for weeks and there is no solid breakout confirmation to change that view.
  • #213,502
  • Apr 6, 2010 1:23pm Apr 6, 2010 1:23pm
Quoting USD-Bear
Thanks for the explanation, but on the end we are all lined up. I think it was a great call because during the upmove he called exactly the level where it now stays for hours on which I based my GJ short

You are missing the point, it is not staying here and entering a short or long here without any confirmation is just paying your broker commission for no result and no PA direction. And it is not staying here because we have reached wave 3b6j3l88, it is staying because there is a DP
  • #213,503
  • Apr 6, 2010 1:25pm Apr 6, 2010 1:25pm
Quoting gammase1
New trade: Long cable @ 15278, s/l @ 15215, t/p @ 15368

Good night
...short @ 15276...TP 15050 !
  • #213,504
  • Apr 6, 2010 1:26pm Apr 6, 2010 1:26pm
It time to sell now.. SL is only 60 pips...
Attached Image (click to enlarge)
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  • #213,505
  • Apr 6, 2010 1:27pm Apr 6, 2010 1:27pm
Quoting cloggie
You are missing the point, it is not staying here and entering a short or long here without any confirmation is just paying your broker commission for no result and no PA direction. And it is not staying here because we have reached wave 3b6j3l88, it is staying because there is a DP
I've got that wave point on my chart at $2
  • #213,506
  • Apr 6, 2010 1:28pm Apr 6, 2010 1:28pm
Quoting cloggie
You are missing the point, it is not staying here and entering a short or long here without any confirmation is just paying your broker commission for no result and no PA direction. And it is not staying here because we have reached wave 3b6j3l88, it is staying because there is a DP
I think they are all missing the point by opening positions now. LOL

Proper PA will start around midnight (BST) like last night!
  • #213,507
  • Apr 6, 2010 1:30pm Apr 6, 2010 1:30pm
Quoting bbakker
I think they are all missing the point by opening positions now. LOL

At least a short here will eventually work out as we haven't past 53 in earnest in weeks, as long as you can handle the drawdown and don't mind a slow PA with a bit of ranging and still a risk of an upward break to 53.

I am going back to my analogy, why jump in at the rapids when you can jump in a free flowing river and enjoy the ride on your lilo with a beer in hand?
  • #213,508
  • Apr 6, 2010 1:36pm Apr 6, 2010 1:36pm
the storm is over moon light nice and quite night

the res did hold the strong waves , dow should fly it did, not dixy down not much though

i think she will go back where she was and may be we will see some new head breaking waiting for the last kill holding adding shitt i am too darn high
  • #213,509
  • Apr 6, 2010 1:36pm Apr 6, 2010 1:36pm
Quoting cloggie
That is a high risk long as the range has been below 53 for weeks and there is no solid breakout confirmation to change that view.
You may possibly be right on this one. We shall see. If we are wrong, then we'll take the loss and await the next signal.

These published positions are trade entries based on reams of statistical data going back over 5 years, which tell us when higher probability set-ups present themselves. Sometimes we lose, but more often than not, we will make money and strong profits in the long run.

We trade when the models instruct us to do so, thereby keeping arbitrary decisions to a very minimum. There are always plenty of reasons and inherent risks present as to why one should not enter a position at a certain point in time.

However, we play by the rules of the models. Why? Because they work and perform much better than my "gut" trades over a period of time. For instance, we made over 1,500 pips in March, on deal which were all published in real-time.

Good luck
  • #213,510
  • Apr 6, 2010 1:36pm Apr 6, 2010 1:36pm
Arsenal have been getting hammered. Nice hat-trick +1 for Messi!
  • #213,511
  • Apr 6, 2010 1:37pm Apr 6, 2010 1:37pm
Quoting allserene
I heard the Jews were moving to Tibet, the Ulstermen were moving to Israel, the Chechins were moving to the Falklands and the Basques were moving to Gibraltar.

The English are moving to the desert in Central Washington State and their advance party has already arrived... the Mexican illegals here are moving to the Punjab

Result - new day, same stuff

PS I took my long and I am not in either way at the mo
great to see you, Alan!
  • #213,512
  • Apr 6, 2010 1:38pm Apr 6, 2010 1:38pm
Quoting 30pips
...short @ 15276...TP 15050 !
Good luck, sir...
  • #213,513
  • Apr 6, 2010 1:39pm Apr 6, 2010 1:39pm
Quoting gammase1
You may possibly be right on this one. We shall see. If we are wrong, then we'll take the loss and await the next signal.

These published positions are trade entries based on reams of statistical data going back over 5 years, which tell us when higher probability set-ups present themselves. Sometimes we lose, but more often than not, we will make money and strong profits in the long run.

We trade when the models instruct us to do so, thereby keeping arbitrary decisions to a very minimum. There are always plenty of reasons and inherent risks...

Q, I love conviction, enter trades with it all the time and do lose, just wanted to share the opposite reason for your trade.

There are two sides to a coin and different ways of trading, I have the utmost respect for Quants and historically they do better then the average gut trader.

Goeieavond.
  • #213,514
  • Apr 6, 2010 1:40pm Apr 6, 2010 1:40pm
I havenīt understood whatīs a PA xD could anyone give me an answer
  • #213,515
  • Apr 6, 2010 1:41pm Apr 6, 2010 1:41pm
Several things to consider here.

Longer term we have price Holding below that daily 50% Fib retrace, Price being stalled out with the daily PP today (on the swing back up), a daily hanging man possible (daily candle not closed yet), and a LOWER high forming on the daily also. This all goes along with the major trend (down).

We now also have the DX breaking out of it's Bull Flag formation (Price channel) and it looks like the trend will now continue... Or at least a retest of the recent high.

I'm selling with stops above the recent high from yesterday as this trade has a good RRR.
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  • #213,516
  • Apr 6, 2010 1:41pm Apr 6, 2010 1:41pm
Quoting 30pips
...short @ 15276...TP 15050 !
I'm with you on that one.
  • #213,517
  • Apr 6, 2010 1:42pm Apr 6, 2010 1:42pm
Quoting gammase1
You may possibly be right on this one. We shall see. If we are wrong, then we'll take the loss and await the next signal.

These published positions are trade entries based on reams of statistical data going back over 5 years, which tell us when higher probability set-ups present themselves. Sometimes we lose, but more often than not, we will make money and strong profits in the long run.

We trade when the models instruct us to do so, thereby keeping arbitrary decisions to a very minimum. There are always plenty of reasons and inherent risks...
It's all there in black and white! I can see more research coming with regards to quantative trading, a completely new concept to me.
  • #213,518
  • Apr 6, 2010 1:45pm Apr 6, 2010 1:45pm
Quoting bbakker
It's all there in black and white! I can see more research coming with regards to quantative trading, a completely new concept to me.

It is brilliant, I spend a couple of years with quants in the City, all PhD's Oxford and Cambridge. They seemed to have their own language to communicate among themselves and we ended up shipping them of to a seperate research centre, they did bring results though, over time more so then the prop desk.

Am a gut trader so am still waiting for the river to start flowing. A trickle has formed downstream of the rapids, waiting for the first waves to appear.
  • #213,519
  • Apr 6, 2010 1:47pm Apr 6, 2010 1:47pm
Lesson 6 .Do not be so arrogant
Lesson 7 Do not call people morons. There are better traders than you in this forum.

You got one right good job. Now do that 100 times in a row and i will be impressed.

Not even seen you on these forums.... you go on about taking 20 here and 20 there and then talk about get 100 pip. I banged top of range closed bottom of range. Then stopped trading for day 130 pips in the bag. one trade called in US yesterday

Now we see reaction to FOMC and are above last weeks close at 1.5190 it is time to look for buying dips, I am waiting to see what asia and frankie give , but London open to US close will be min 120 pip range .... who cares which way as long as I am with it

Looking for some kind of low volume test / stopping volume around 1.5220 in Frankie for move to 5340 ( top of Monday) in london / US

Quoting cloggie
The funny bit was I called it and spend 2 hours justifying it here while the price kept rising and most ignored it and were looking for shorts. Ah well, am not going to give up yet turning these m@r@ns into traders...

Todays lessons:

Lesson 1, write down your fooking trading plan and stick to it
Lesson 2, don't be bloody greedy, a 100 pips as a day trader on one 1 trade is great, don't let it run into a BE or even a loss
Lesson 3, don't argue with the Clogmeister
Lesson 4, if you feel the urge to argue with Cloggie, refer to rule 3
Lesson 5,...
Blogging daily now at www.volume.zone
  • #213,520
  • Apr 6, 2010 1:53pm Apr 6, 2010 1:53pm
This is fx, shorter's beware, this train doesn't look good any more for shorters. If i can put this through a chart i can explain my view in this manner. 1.5237 breaks and HOLD'S in the LONG we are going to have higher high's. else we wait
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