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Cable Update (GBPUSD)

  • #229,721
  • Jun 3, 2010 8:27am Jun 3, 2010 8:27am
Quoting cloggie
She is stubborn.
wonder if helicopter ben has an order or two @610 as well. They set the runners, he talks and we back here again

primvizcious : sure hope you covered a bit more than bep mate!
Thank You
  • #229,722
  • Jun 3, 2010 8:29am Jun 3, 2010 8:29am
Quoting albchr
Thanks brother.

Nope, no trades right now. Will PM you in a few minutes.
Okay roger that
Thank You
  • #229,723
  • Jun 3, 2010 8:31am Jun 3, 2010 8:31am
Quoting malcolmb14
no you do not get it ... I am in the top 5% that actually make money by end of year and on average I make about 38 pip a day including losses thru the year . So i figure i do pretty damn good .

In here most make hundreds of pips every day even though the stats of traders that fail / break even / blow up accounts say different.. No matter what the market is doing. Market could range in 30 pip and someone will say hey I made 500 pip today ' awesome scalping range '

also with knowledge comes pip . Think Magix does so well .. and I know he is...
The problem is this thread is addictive with all th gossip - the 500 pip stories and all. I have not been able to handle it - spend too much time reading - my weakness - otherwise my trading could be more productive / profitable. Going to change my ways !
Did scalping - 7/8 trades a day - anything from 5 to 50 pips but I do not seem to have the aptitude to do it.... IMO, day trading is more TA than Fundies.
Cheers !
  • #229,724
  • Jun 3, 2010 8:34am Jun 3, 2010 8:34am
try it harder darling you missed 1 pip
Attached Image (click to enlarge)
Click to Enlarge Name: 43.gif Size: 15 KB
Verily, in every difficulties there is relief
  • #229,725
  • Jun 3, 2010 8:40am Jun 3, 2010 8:40am
Quoting vilas
The problem is this thread is addictive with all th gossip - the 500 pip stories and all. I have not been able to handle it - spend too much time reading - my weakness - otherwise my trading could be more productive / profitable. Going to change my ways !
Did scalping - 7/8 trades a day - anything from 5 to 50 pips but I do not seem to have the aptitude to do it.... IMO, day trading is more TA than Fundies.
Cheers !
There is no problem my friend. The "ignore" feature is god's gift to ff's users
Click it & filter out the bullshit storytellers. My shitlist is now almost as big as the kraken. Life is good
Thank You
  • #229,726
  • Jun 3, 2010 8:55am Jun 3, 2010 8:55am
Quoting vilas
The problem is this thread is addictive with all th gossip - the 500 pip stories and all. I have not been able to handle it - spend too much time reading - my weakness - otherwise my trading could be more productive / profitable....
Suggestion: find 2-3 traders you really like & just follow them. There are at least 8 excellent traders on this thread but not everyone's style, trading tf, risk tolerance, pip goals are the same. If you read all of them all the time, you may end up just getting confused. Of course, you never base your trades on the opinion of anyone else .. no matter how trusted. You need to make your own decision first then maybe check in with your preferred traders to see if they agree...
I find when they agree with me, it usually works out well.
******************* I'd rather make money than be right.
  • #229,727
  • Jun 3, 2010 9:01am Jun 3, 2010 9:01am
Quoting wormboy
wonder if helicopter ben has an order or two @610 as well. They set the runners, he talks and we back here again

primvizcious : sure hope you covered a bit more than bep mate!
no probs mate already covered 30pips for today
Verily, in every difficulties there is relief
  • #229,728
  • Jun 3, 2010 9:08am Jun 3, 2010 9:08am
1.44XX...come on
hopefully daily setup will working up and worth my trust.
  • #229,729
  • Jun 3, 2010 9:19am Jun 3, 2010 9:19am
http://img36.imageshack.us/img36/1752/56390306.gif
  • #229,730
  • Jun 3, 2010 9:19am Jun 3, 2010 9:19am
Quoting primzvicious
no probs mate already covered 30pips for today
Nice job
I'm outta here. Catch you tomorrow during the nfp.
Good luck everyone!
Thank You
  • #229,731
  • Jun 3, 2010 9:22am Jun 3, 2010 9:22am
Unfortunate aspect of human nature is to form cliques, start talking in secret jargon and ignore those outside the inner circle.

They end up like the old men on the temple wall:

II Kings 18:27 Has he not sent me to the men who sit on the wall, that they might eat their own shit and drink their own piss with you? KJV
  • #229,732
  • Jun 3, 2010 9:23am Jun 3, 2010 9:23am
Sell!! Sell!! Sell!!! Cable.....

market condition are still very bearish
  • #229,733
  • Jun 3, 2010 9:34am Jun 3, 2010 9:34am
hey room hope u are all in green
  • #229,734
  • Jun 3, 2010 9:38am Jun 3, 2010 9:38am
Anyone seeing the head and shoulders pattern on the 1 hr charts?. Looks like a nice big bounce to the upside might be coming tomorrow . We'll see though.
  • #229,735
  • Edited 10:11am Jun 3, 2010 9:44am | Edited 10:11am
Quoting allserene
Unfortunate aspect of human nature is to form cliques, start talking in secret jargon and ignore those outside the inner circle.

They end up like the old men on the temple wall:

II Kings 18:27 Has he not sent me to the men who sit on the wall, that they might eat their own shit and drink their own piss with you? KJV
That is exactly what I would have liked to say if I cared. As it is I do not come here to glean ideas - I have my own methods - problem is the methods are so right, sometimes, I begin to wonder if I may be off my rocker - how am I able to pick winners when all around are "losing their head" ? Many people play with mini lots and leave them in the market to scalp agains them and talk as if ..........

Where are you now - Old Mother Country or Adopted Land full of Fun...

Enjoy wherever you are !
  • #229,736
  • Jun 3, 2010 9:56am Jun 3, 2010 9:56am
FYI only in case anyone missed it.

http://fxpath.com/wp-content/uploads...2010-06-03.jpg

6/03/2010 – GBP/USD, a 4-hour chart of which is shown, has just respected a key downtrend resistance line extending from the late April high. This occurs within the context of a strong long-term downtrend, and comes on the heels of a bullish correction beginning in late May. Traders following the long-term and medium-term bearish trend are looking for potential downside trading opportunities where the downtrend may continue after the current bullish correction/pullback exhausts itself. One potential area where a downtrend continuation may begin is on a breakdown of the short-term uptrend support line that represents the noted bullish correction/pullback. In the event that this trendline is broken significantly to the downside, a major bearish support target resides around the key 1.4250 price region, which represents the strong long-term support low (in the region of a 13-month low) established approximately two weeks ago.
- James Chen, CTA, CMT
  • #229,737
  • Edited 10:07am Jun 3, 2010 10:04am | Edited 10:07am
Quoting 4xStar
Suggestion: find 2-3 traders you really like & just follow them. There are at least 8 excellent traders on this thread but not everyone's style, trading tf, risk tolerance, pip goals are the same. If you read all of them all the time, you may end up just getting confused. Of course, you never base your trades on the opinion of anyone else .. no matter how trusted. You need to make your own decision first then maybe check in with your preferred traders to see if they agree...
I find when they agree with me, it usually works out well.
Yes, I would agree that there are a number of good traders but I do not come here to glean ideas - mostly to pass time. The real problem is eloquence obscures result-orientedness ! My system does not point to levels, just direction, so I might pick up on S/R levels to compare with mine. My biggest problem is my brokers somehow come to know when I am not at PC - sleeping, eating, gallivanting whatever - and take that time-slot to move the market. They must have implanted an AI camera in my IE ! Any remedy for that ? And then, I do not expect others to give too much of their time for "chatting", so I do not bother them. I do ask Qs now and then and get answers from them. Most are good fellows - as some are catankerous - can't be helped although I would like to drive away the Catankerous ones ! Keep the peace.. a social place should be treated as such and not as personal property ! Part of my answer to Allserene made recently, would be relevant here !

A bit pained to read in last couple of days that some people, one a guy in advanced age, are trying to make two ends meet from earning from FX - at best a dicey thing for most. One guy follows Magix. I follow a similar system but of my own device. Wonder why people do not form pools and trade their money together, say, with help from 8 leading traders as you say.
Been to your website --- why don't you trade as a Fund Manager ?

Keep Smiling ! And leave a smile where you find it not !
  • #229,738
  • Jun 3, 2010 10:14am Jun 3, 2010 10:14am
Quoting 4xStar
Suggestion: find 2-3 traders you really like & just follow them. There are at least 8 excellent traders on this thread but not everyone's style, trading tf, risk tolerance, pip goals are the same. If you read all of them all the time, you may end up just getting confused. Of course, you never base your trades on the opinion of anyone else .. no matter how trusted. You need to make your own decision first then maybe check in with your preferred traders to see if they agree...
I find when they agree with me, it usually works out well.
I most definitely second that!!!I spent way too much time reading through alot of bs on the forum but started to notice one constant: A handful of highly valched-for traders constantly seem to make 10-30 pip gains on trades, and seem to do this a few times throughout the day.I noticed that when they weren't active on the forum they were more than likely busy analyzing charts and trading,which then signaled to me that I should be looking to see whats happening.
The good traders up here also don't stick to just trading cable.This concept was contradicting to the information I got from the few others traders I talk to at other places.The conclusion I extrapulated from everyone is that as a newbie, stick to just one pair until you have a better grasp on how the markets and tools work.To me this is best because thow some pairs trend in the same direction(correlation i think its called), the price action seems to be different (for me this can be seen with cable and aud/usd). I suggest to stick with one of the majors (cable for me) for at least your first 4-6 months of live trading (after at least double that time of demo), then use the same process to work in other pairs.
Also, they don't post all there trades, weather they're wins or losses. And when they have say 7 out of 10 trades being winners,the losses become something to study over the weekend to try to prevent the mistake from happening again.This enables a trader to learn even more.The old saying goes: A person should learn something new everyday. This is espicially true for a fx trader.If they aren't, then they aren't being responsible in my opinion. I try to learn at least 5 new things a day.
There's literally trillions of dollars moving in this market within 24 hours.You can't even begin to try to wrap your head around those numbers.The big players do $100M+ trades within seconds and think nothing of it, doing it many times throughout the day. So when a lolely retail trader (i.e. you and me) do 100-400pips a day and gain or loose $40K a day,they don't even notice.So to say that a handful of the traders on this thread/forum do that is not out of the realm of possibilty.I'm a newbie and I've had my runs where I go 3-7 days of winning anywhere from 30 to 220 pips in a day (though I'm still overall in the negative.) But again, it's not all just in cable.
Sorry to be long-winded, but I felt the same way when I first started posting on this thread. You do the math and see the potential of what just 10-20 pips a day can do with the power of compound interest.Then you see what some posters are claiming and realize something's not adding up.
I suggest following traders like kill,magix,cloggie,malcomb,4xstar and maybe 2 or 3 more to gain great insight/knowledge.When you think you have a trade set up don't be afraid to ask for other's opinion, espicially if you're trading off someone else's setup. Perhaps more importantly, don't make a trade when you're doubtful and not feeling confident about it.No matter what anyone says, if you're not yet familiar with a system, don't trade it live.
  • #229,739
  • Jun 3, 2010 10:19am Jun 3, 2010 10:19am
Quoting kill56
hey room hope u are all in green
Thanks.. still Green.. waahhaha.
What a day.

Night... 1.20am in singapore.
Smile Chankl78
  • #229,740
  • Edited 10:43am Jun 3, 2010 10:19am | Edited 10:43am
Quoting wormboy
There is no problem my friend. The "ignore" feature is god's gift to ff's users
Click it & filter out the bullshit storytellers. My shitlist is now almost as big as the kraken. Life is good
Thanks WB. And thanks for finding the time to answer - Yes my IG.. list must grow if I am not to go crazy. I wonder at you, you know - you answer all mails - trade and post. Frankly, I am unable to manage trade and post. I do reply to "social mails".

Congrats for making your Pile grow and good luck with that.

How is Junior coming along ? Is that his picture you have posted ?

Many Good wishes to him and you. !
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