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Cable Update (GBPUSD)

  • #215,601
  • Apr 10, 2010 2:34pm Apr 10, 2010 2:34pm
Quoting forexlion
that indicator is only good for trading GBPJPY on any other pair it will not give good results

each indicator i design is specifically useful for the currency pair for which it was designed

like i designed an EA once for GBPJPY which took the account balance from $1000 to $37 Billion in 37635 trades and then in the next 120 trades reduced the balance to 0 that was the last time i wrote an EA. it was enuf to give anyone a heart attack, the code was a simple 6 word logic.

i use it for cable and fiber and the way i use it dos make money and i am on green %90 of the time
  • #215,602
  • Apr 10, 2010 2:45pm Apr 10, 2010 2:45pm
Quoting wormboy
what makes you think that i'm not trading normally?
Touched a nerve with that post did I? I am not your regular newbie you can talk down to. You're an okay guy in my books guv, don't start to be a tosser now.
i get irked up when a good trader gets involved in politics, nothing else

avoid all politics and continue your good work is all i have to say
  • #215,603
  • Apr 10, 2010 2:47pm Apr 10, 2010 2:47pm
Quoting wormboy

Sorry but no. If you're trying to build a solid mechanical system then you cannot ever let thought process get in the way. Because if you do allow thought to get in the way, you will find yourself not taking trades which had met the rules set by your mechanical system which you had so precisely tried to create, or you will find yourself staying in trades where you shouldn't have in the first place.
Hey, I think that was a bit uncalled for to quote me out of context. I am no expert but I'm learning fast (and I suspect that even all the experts here learn something new occasionally). I was trying to tell someone to think about what they were doing, how things work, etc, any moron can open an account not think about how things work and lose all their money.

I agree 100% with you however, I HAVE overthought things and not taken the risks you have mentioned and have lost out on good trades, however beginners shouldnt take TOO many risks until they have thought about how things work and can afford to take the risks.

I dont want to become an emotionless robot trader working to strict rules, I want to take the odd gamble, and I have. I've won some, and I've lost some and I will continue to take risks because nothing is certain with this game.

One thing I have got for most people on here is respect because almost everyone is helpful and I have been reading the threads of other people who post here to see how they think about charts and strategies to see how I can incoroprate that into my "mechanical system".

Just my 2 pips worth, I think you misunderstood the sentiment behind my statement I was just trying help someone not make silly mistakes like I have in the past and I just wanted to clarify that!
Back to basics, it has to be for me!
  • #215,604
  • Apr 10, 2010 2:48pm Apr 10, 2010 2:48pm
Quoting kill56
i use it for cable and fiber and the way i use it dos make money and i am on green %90 of the time
that is the beauty of the indicators i code 90+ % hit rate, in the hands of an expert, in the hands of someone just looking for being baby fed, the same indicators will fail miserably.

one reason why i stopped sharing recently.
  • #215,605
  • Apr 10, 2010 2:50pm Apr 10, 2010 2:50pm
Quoting forexlion
that is the beauty of the indicators i code 90+ % hit rate, in the hands of an expert, in the hands of someone just looking for being baby fed, the same indicators will fail miserably.

one reason why i stopped sharing recently.
Do u agree?
http://www.forexfactory.com/showthread.php?p=3625964#post3625964
  • #215,606
  • Apr 10, 2010 2:51pm Apr 10, 2010 2:51pm
Quoting BadTradingFi

Just my 2 pips worth, I think you misunderstood the sentiment behind my statement I was just trying help someone not make silly mistakes like I have in the past and I just wanted to clarify that!
is that $1 trillion per pip ? whats your lot size ? whats your account balance ?

wow !!!
  • #215,607
  • Apr 10, 2010 2:53pm Apr 10, 2010 2:53pm
Quoting forexlion
is that $1 trillion per pip ? whats your lot size ? whats your account balance ?

wow !!!
Is it pick on the noobs week this week?
Back to basics, it has to be for me!
  • #215,608
  • Apr 10, 2010 2:55pm Apr 10, 2010 2:55pm
Quoting egkid
Do u agree?
http://www.forexfactory.com/showthread.php?p=3625964#post3625964
sir kindly quote the post so i can reach it easily
  • #215,609
  • Apr 10, 2010 2:56pm Apr 10, 2010 2:56pm
Quoting BadTradingFi
Is it pick on the noobs week this week?
can't i even joke ?
  • #215,610
  • Apr 10, 2010 2:58pm Apr 10, 2010 2:58pm
luck has nothing to do about it ..... skill well remember my 1.7000 to 1.5300 call before it happened ? what you think I have a magic guessing ball ?

Just cause your indies or system does not work it does not mean others does not either.

In addition to that I can show you countless posts last few weeks of where price on eu and gu is going and why .... yes i have some bad ones ... but 80 % are good ones ... luck is not a game of 80%

So newbies .. wormie is right in one way do not waste time on indies , volume and candle relationships ( vsa) is all you need along with simple s/r lines.

s.r lines can come in many forms.

Prios days hig , low close
prior swing highs / lows
fib lines ( these are just lines on a chart)
murrey math lines ( again lines on the chart)
whole numbers , for example buy eu on break 1.3400 in US session ,50 pip stop for 100 pip target
prior week high low close.
Daily pivots , r1 etc..

adx, macd , rsi stocahstcis , etc etc while useful to some really are lagging and unless you understand true price action using them will still burn you if you are treading against the trend.

For those that have a hard time determining trend get a hulls moving average setting 40 works nice , or use simple candle paterrns. I mean who would have still beeen short after thi doji on the 15 min on friday ?

this chart was marked up for another trader that was trying to sell , he got a good entry but I suggested something was not right as the valid vsa reason he was entering for were not dirving price lower . he closed sell .

Attached Image (click to enlarge)
Click to Enlarge Name: chart2070.png Size: 231 KB







Quoting wormboy
[font=Georgia]When I joined this thread over a year ago, there were many decent traders, not posters but real traders who share their experience here. Most...
Blogging daily now at www.volume.zone
  • #215,611
  • Apr 10, 2010 2:58pm Apr 10, 2010 2:58pm
Quoting forexlion
can't i even joke ?
If it was then I apologise, stick a in next time so I know for sure cos I thought it was just a slap down.

I shall disappear and play with charts again awaiting Monday morning and wish you a good weekend
Back to basics, it has to be for me!
  • #215,612
  • Apr 10, 2010 3:03pm Apr 10, 2010 3:03pm
Quoting BadTradingFi
If it was then I apologise, stick a in next time so I know for sure cos I thought it was just a slap down.

I shall disappear and play with charts again awaiting Monday morning and wish you a good weekend
stick a ??
  • #215,613
  • Apr 10, 2010 3:05pm Apr 10, 2010 3:05pm
Quoting forexlion
i get irked up when a good trader gets involved in politics, nothing else

avoid all politics and continue your good work is all i have to say
sorry mate.
Thank You
  • #215,614
  • Apr 10, 2010 3:15pm Apr 10, 2010 3:15pm
a few years a go a guy use to trade through me and he have no knowledge of computer nor forex he learned how to use the mouse and open close a position he use to set infront of the screen buy and sell trading cable oil eur and dow i use to watch his account he use make money .

ist about how long u have been trading or how long u have been here and how many vouches u have or u dont have ist about good call bad call .

ist about a newcomer he is better than his teacher ist about new gang and old gang and they stick together no matter what right or wrong

ist about a thread u are allowed in or not ist about showoff me better than u

this forum is about learn teach care friendship lets keep this way lets give more than we take lets be humble lets care lets learn lets care lets get together and have fun lets be a family
  • #215,615
  • Apr 10, 2010 3:17pm Apr 10, 2010 3:17pm
Quoting Ctic
But that's the point. What if your playing the house where the pay amounts are set... Look at this post I did well before the move Friday.

http://www.forexfactory.com/showpost...&postcount=202

I called the daily target of 5380 - 5400. Look what the high of the day was. right in that range. I think I posted 5391 as high..

How can you extract more money? You can't make it go to 5500 (unless you are one of the big boys with enough capital to dump into the market to drive it up.
I only play poker against other people whether online or with friends, never the house, as it is much more fun.

My post was not really related to Forex, but to poker, but I now see that your poker post was a loose analogy to Forex and you are right in saying that you cannot extract more money out of the Forex market unless you are Soros or one of the big banks.

I didn't see your post (wish I had now) as I missed the Friday morning session (overslept due to tiredness) and by the time I got to work, London had already hit the high of the day. Plenty of more days left and I will keep an eye on your posts. Cheers.
  • #215,616
  • Apr 10, 2010 3:19pm Apr 10, 2010 3:19pm
Quoting BadTradingFi
Hey, I think that was a bit uncalled for to quote me out of context....
I meant no disrespect. I was just trying to point out since you mention the word "chance" in your sentence. You do not stand a chance to be profitable in the long run by letting thoughts overrule your system.
You said it yourself, you took the odd gamble. Meaning you have not been trading long enough to know that the odd gamble, is not worth it.
If you've been trading long enough - and I do mean this in a good way, you will realise that you need to be trading like the emotionless robot to be consistently profitable.
The reason people do want to have the thought process is because the need to be right. Fear of losing = the need to be right. Ever heard the saying? Having to be right, makes you obsolete.
Like I said, you do not have to believe me, just be prepared for the endless cycle of losing money, losing em more, make some money, lose them back again, refund, losing again.
This is the absolute truth, I was lucky to have met my mentor before I was totally wiped out clean. Just trying to share.
I gain absolutely nothing by trying to derail you in your journey.
Thank You
  • #215,617
  • Apr 10, 2010 3:21pm Apr 10, 2010 3:21pm
Quoting BadTradingFi
Hey, I think that was a bit uncalled for to quote me out of context. I am no expert but I'm learning fast (and I suspect that even all the experts here learn something new occasionally). I was trying to tell someone to think about what they were doing, how things work, etc, any moron can open an account not think about how things work and lose all their money.

I agree 100% with you however, I HAVE overthought things and not taken the risks you have mentioned and have lost out on good trades, however beginners shouldnt take TOO many risks until...
It is the emotionless robot trader working to strict rules that makes money on Forex. The gambler over the long term does not.
  • #215,618
  • Apr 10, 2010 3:25pm Apr 10, 2010 3:25pm
A simple advice to newbies

NEVER OPEN THIS THREAD ON A WEEKEND, EVERYONE BECOMES A POET AND MAKES LONG POSTS ABOUT GOD KNOWS WHAT

  • #215,619
  • Apr 10, 2010 3:25pm Apr 10, 2010 3:25pm
Quoting BadTradingFi
Is it pick on the noobs week this week?
Ignore him! He gets enjoyment out of it as he has nothing better to do!
  • #215,620
  • Apr 10, 2010 3:29pm Apr 10, 2010 3:29pm
Quoting forexlion
A simple advice to newbies

NEVER OPEN THIS THREAD ON A WEEKEND, EVERYONE BECOMES A POET AND MAKES LONG POSTS ABOUT GOD KNOWS WHAT

It's a million times better than your pointless garbage
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