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Cable Update (GBPUSD)

  • #230,041
  • Jun 4, 2010 1:35pm Jun 4, 2010 1:35pm
Quoting cloggie
In the end the corkscrew only managed 22 pips, we still got a spike on close so we should see some gap on Sunday.

Have a good weekend all.
have a great one take care
  • #230,042
  • Jun 4, 2010 1:36pm Jun 4, 2010 1:36pm
Quoting kill56
have a great one take care

You too kill, will probably stop by over the weekend for the craig. Got to do bits of gardening starting to look like a jungle out there.
  • #230,043
  • Jun 4, 2010 5:45pm Jun 4, 2010 5:45pm
Quoting cloggie
Hold on, someone told you to short on Monday at 4488, and now on Friday you are down 12 pips and you call that a "spot on" call?
So, Funny Story...

I'm driving down the highway, reading posts, watching PA on my Iphone when I comes across this post. Honestly dude....I had to pull over and roll around on the ground laughing. My guts hurt and I almost pissed my pants at a buck twenty.

I really am amazed by the props that people get by on bullshit.

Nene, weren't you questioning the validity of posts earlier???

I mean seriously.

A Monday Call that would at close depending on your broker given by somebody called "An Advisor", that would put you at about even from being MASSIVELY RED all week isn't really all that grand. I mean shit...seriously?? Even if your broker was kind, and your trade was a little in the green, you would still be paying off the interest.

I missed top call by what, a dozen in a simplistic call almost 2 full days ahead, but yet this guy gets the big KUDOS? I rode up and rode down posting the charts as they happened and this guy scaled? Buwahahahahahah....

http://www.forexfactory.com/showpost...stcount=229267

Very amusing indeed.

Earlier this week, we seen some poor sucker lose his account given a stop loss of 50...I really gotta wonder if buddy boy above was even answering his phone by mid week....

Nene...No disrespect, but seriously, if you are going to brag about something, have something of value. This call is about as valuable as the 1.7 bullshit calls that have been floating threw here over the last couple weeks.

And for the rest of the new folk to house...

This is the kind of advice you get paying for a signal service. We gotta lotta folks here who can help you read your own chart and make your own money. Your longevity in market and success in forex is your responsibility. Choose wisely.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,044
  • Edited 6:41pm Jun 4, 2010 6:19pm | Edited 6:41pm
Quoting Magix
So, Funny Story...

I'm driving down the highway, reading posts, watching PA on my Iphone when I comes across this post....

darm dont tell me u still someking the pipe

its a full house magix mal
  • #230,045
  • Jun 4, 2010 7:21pm Jun 4, 2010 7:21pm
I really feel sorry for ya, fella. You must have some kind of problem to act like that. Are you a little girl, cause you piss and moan like one. Most of the people I know are scaling in constantly. You are one of those who want to kick anyone they can and you are also one of those people I was talking about a few posts back. By the way, how long have YOU been around.....LOL.

Quoting Magix
So, Funny Story...

I'm driving down the highway, reading posts, watching PA on my Iphone when I comes across this post. Honestly dude....I had to pull over and roll around on the ground laughing. My guts hurt and I almost pissed my pants at a buck twenty.

I really am amazed by the props that people get by on bullshit.

Nene, weren't you questioning the validity of posts earlier???

I mean seriously.

A Monday Call that would at close depending on your broker given by somebody called "An Advisor", that would put you at about even from being...
  • #230,046
  • Jun 4, 2010 8:13pm Jun 4, 2010 8:13pm
For all you camheads... typically in a given trading
day you'll frequently see the price reach the 4th level
but infrequently will it reach the 5th. Today GU's fall
came to a screeching halt at DH5 support (1.4456).

Low was 1.4452 near previous weekly close (1.4451).

Now approaching a quarterly pivot - QL3 1.4439.

Dr. D.


  • #230,047
  • Jun 4, 2010 8:13pm Jun 4, 2010 8:13pm
Forgetting the over-reaction by the DOW to carry
over into next week and dragging the GU further down
or even if next week establishes a lower low ...
let's speculate where next weeks close will fall.


From a weekly perspective, we have had higher
lows and highs the last two weeks and the close
for the past 4 weeks has been contained within
a range of 1.4471 to 1.4442. Does this signal a
serious slow down in a drop from 1.7042 and time
for a more committed retrace back toward the
recent high of 1.5523? We've had a 38.2 retrace
on PA but measuring against the highest to lowest
close (1.5433 - 1.4442) on this current run we've
only seen a miniscule 2.9 weekly retrace.

Dr. D.
Attached Image
  • #230,048
  • Jun 4, 2010 8:50pm Jun 4, 2010 8:50pm
Quoting Nene
I really feel sorry for ya, fella. You must have some kind of problem to act like that. Are you a little girl, cause you piss and moan like one. Most of the people I know are scaling in constantly. You are one of those who want to kick anyone they can and you are also one of those people I was talking about a few posts back. By the way, how long have YOU been around.....LOL.
Let's just address this post in pieces....

This week, I entered into 36 trades this week on 4 pairs, took a total of $28, 466...don't feel sorry for me fella, this was only one of the accounts that I traded.

Piss and Moan...
Not really, but when I see dogshit, not only do I step around it, I try to caution others to as well...This trade advice, that you were chiming in about, SUCKS HARD. There is no 2 ways around it. Give this advice to any trader new to market or cripes even some of the regulars, how many of them might have effectively scaled themselves completely out of market.

Kick anyone they can...
Well Ace...I don't promote a signaling service, nor take advice from or talk to anybody about what I should be trading or the direction I should be trading in, I still rocked the market this week and was able to work with 3 others in private as well as post here in the forum and answer questions in my thread...so, ya kinda missed the mark here too.

How long have I been around?
Though I know answering a question with a question is improper...
WTF does that have to do with ANYTHING?

Scaling is one thing and I have posed this question time and time again...
IF you know where market top and bottoms really are, and are fully aware of direction, WHY would you sink yourself instead of playing the trend? This is SCUBA trading and FWIW, I have been around long enough to see a lot of new traders sink accounts and trade themselves out of market doing just this.

So far, your statements about me are the childish of retorts as your comments directed towards me are about as accurate as your "Advisors" market guess, like not even close man.

But hey, if you wanna puff your chest, and scream from a soap box, be my guest. You are quickly becoming one of the people you would wish not see in a forum.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,049
  • Jun 4, 2010 8:52pm Jun 4, 2010 8:52pm
hi everyone I hope you all had a green week, I did great this week following price action here and there... I do want to go ahead and give credit where it's due and Magix you DID make that call up to the 1.47-and-change area and it was on the money... I understood the analysis at the time it was posted and I followed along as the week went on. I'm not saying I trade everything someone else says, I actually don't do that at all, I follow price action as I see it. but that was a good call. So get down wit yer bad self Mr. Wise Man. Probably several other people here made good calls too but that was the one I remember from the week, and I probably did make some dijj from being aware of that dynamic as pointed out by Mr. Magix (hey didn't Grover Washington write a song about that)

anyway, last night I got long at 1.4585... I made some pips doing that Thursday night and got out before turning in. it was the bottom of an upwards channel and made some sense at the time and might have followed through were it not for NFP madness. Who knows why the fundamentals do what they do but this morning the trendline just broke and that was an obvious sign so I just went for the shorts and did great as well.

anyway I just want to wish everyone a great weekend! have fun

and if anyone wants to know what a Sherpa is, here ya go
http://www.forexfactory.com/showpost...stcount=229957
"The real genius is knowing when to stop." - Marc Faber
  • #230,050
  • Jun 4, 2010 9:04pm Jun 4, 2010 9:04pm
Quoting Ineedpips9
sorry clogs. I missed your post because I was looking at my charts and placing my last trade of the day.Then I was typing my post.
Again, sorry I missed that post .
Get a second screen. Solve your problem.
As I had stated, Daily basis trend down. So many pips in one direction is good enough to judge OB/OS.
  • #230,051
  • Jun 4, 2010 9:20pm Jun 4, 2010 9:20pm
Quoting hhitch
and if anyone wants to know what a Sherpa is, here ya go
http://www.forexfactory.com/showpost...stcount=229957
LOL at the Sherpa Thang....

Admittedly, I can see how coining a new trade phrase could be confusing to others, especially if they never ran across it in my thread, but by definition, yours seems to be pretty much what I see in the Sherpa. A guide for climbing the peaks and valleys.

Not only have I seen others, but I have been in a position of not understanding what is happening and why. A seemingly proper directional play turns, wipes out profit, I counter with the new direction, play turns again, I lose out again, only for it to come back to where it was or what would have been an increased profit. I see these words, Head and Shoulders or Double top or Triple top or Pitchfork or the other zillion phrases that are used and for the most part, I can see, say and explain all of them with 1 word....Sherpa.

We hit support, we need to test highs, sherpa....No new High, Sherpa Sell...We hit bottom, price comes back to resistance, Sherpa, no new bottoms, Sherpa buys.

http://www.forexfactory.com/showpost...stcount=229686

The 2 charts that I posted with the explanation are a fair to well explanation of how the week played out. But this happens starting on the 1M chart. You will see it everyday. First reversal is the 1m Sherpa, if no new extreme is posted, we will Sherpa 5.

These are chart patterns, they work well with the Moving Averages, (especially the 200EMA, but you have to know the relevant time frame), help out with direction from the long charts and help keep you on the right side of the trend.

See the Sherpa....Play the Sherpa....

It will be your guide through the mountains and right into profit.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,052
  • Jun 4, 2010 9:51pm Jun 4, 2010 9:51pm
Quoting Magix
LOL at the Sherpa Thang....

Admittedly, I can see how coining a new trade phrase could be confusing to others, especially if they never ran across it in my thread, but by definition, yours seems to be pretty much what I see in the Sherpa....
Hello Wise Man
Have a question, Why always good trader get silly attack?
  • #230,053
  • Jun 4, 2010 10:10pm Jun 4, 2010 10:10pm
Quoting egkid
Hello Wise Man
Have a question, Why always good trader get silly attack?
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #230,054
  • Jun 4, 2010 10:15pm Jun 4, 2010 10:15pm
Quoting egkid
Hello Wise Man
Have a question, Why always good trader get silly attack?
Markets are not Random, they are designed!
  • #230,055
  • Jun 5, 2010 12:41am Jun 5, 2010 12:41am
Quoting fourxtrader
For all you camheads... typically in a given trading
day you'll frequently see the price reach the 4th level
but infrequently will it reach the 5th. Today GU's fall
came to a screeching halt at DH5 support (1.4456).

Low was 1.4452 near previous weekly close (1.4451).

Now approaching a quarterly pivot - QL3 1.4439.

[i][color=blue]Dr....
Hey Dr D, better refresh your chart or make sure you have enough bars back lol, it would appear your QL3 is in the wrong spot if it is at 1.4439. The QL3 should be at 1.4719, just below last quarters low give or take a few depending on broker, yours should be exactly like this . As with the daily levels it was a stiff resistence spot on this last swing up. Proved to be a nice short trade anyway
Attached Image (click to enlarge)
Click to Enlarge Name: Daily chart.jpg Size: 126 KB
  • #230,056
  • Jun 5, 2010 1:42am Jun 5, 2010 1:42am
http://www.forexfactory.com/showpost...stcount=229567

Please check above thread....

My trust finally paid....:-)
  • #230,057
  • Jun 5, 2010 3:06am Jun 5, 2010 3:06am
We see it mentioned so many times on this forum, but what does discipline actually mean? Have you actually thought what discipline really is and how to apply it to your trading?

Discipline comes from routine. Stick to a routine and you will have found discipline. Personally I hate routine, but I have acknowledged that if I want to be successful, I need to have a day-to-day routine.

I now have a timetable that I can follow. My timetable includes what time I go to bed, what time I wake up, what time I have a shower, what time I trade, what time I have lunch, what time I do my day job, what time I spend with my family, what time I play golf, what time I have free time, but this is just my day-to-day routine.

I am also putting together my trading routine and this comes from my trading plan. I posted a skeleton trading plan a few posts back, but it is the same principle, which is building a routine into my trading, by going through the same setup EVERY time.

Don't have a routine in your head. WRITE IT DOWN. Your mind can play tricks and you can easily convince yourself that you are sticking to a routine when in reality you are not. When it is in black and white, you have a reference point.

This is going to be that hardest thing for me to do as I hate routine, but I have also realised that this is one of my weaknesses that I need to address if I want to be successful.

For some of you, routine comes naturally. For others like myself, I have to work hard to stick to a routine, but in the long run, it will pay off and the routine will become second nature.

Good luck with your trading people and see you all soon.
  • #230,058
  • Jun 5, 2010 4:18am Jun 5, 2010 4:18am
Quoting bbakker
We see it mentioned so many times on this forum, but what does discipline actually mean? Have you actually thought what discipline really is and how to apply it to your trading?

Discipline comes from routine. Stick to a routine and you will have found discipline. Personally I hate routine, but I have acknowledged that if I want to be successful, I need to have a day-to-day routine.

I now have a timetable that I can follow. My timetable includes what time I go to bed, what time I wake up, what time I have a shower, what time I trade,...
best of luck with that BB. i myself can't stand routine or discipline. luckily i only play forex for fun.
  • #230,059
  • Jun 5, 2010 5:17am Jun 5, 2010 5:17am
Well put, bbaker.

I have a great plan, dicipline and patience is my main problem. Take yesterday for example. My goal is to make 10 PIPS a day, my trading plan supports it. Yesterday I took 10 PIPS but used many trades to get there (normally I need one). Why? Because I didn't have the dicipline and patience to wait for the right setup. A normal day it take me abouth half an hour (aggreagated time) to get to my 10 PIPS yesterday it took me over 3 hours, which prevented me from doing many other things. Profit/time unit was down a lot.

Quoting bbakker
We see it mentioned so many times on this forum, but what does discipline actually mean? Have you actually thought what discipline really is and how to apply it to your trading?

Discipline comes from routine. Stick to a routine and you will have found discipline. Personally I hate routine, but I have acknowledged that if I want to be successful, I need to have a day-to-day routine.

I now have a timetable that I can follow. My timetable includes what time I go to bed, what time I wake up, what time I have a shower, what time I trade,...
  • #230,060
  • Jun 5, 2010 5:27am Jun 5, 2010 5:27am
Quoting winsome
best of luck with that BB. i myself can't stand routine or discipline. luckily i only play forex for fun.
Since I started trading Forex at the start of February, I have also been playing Forex for fun while learning. During this time I have come to love everything about Forex. I am very much an analytical person so I really enjoy analysing charts, but I also have weaknesses that I need to address if I want to be successful.

Back in 1997 my father and I setup a business to build web applications. Unfortunately the business failed in 2003 and I went to work for a company again, the same company where I am today. I loved everything about working for myself and my long-term aim was to go back to working for myself related to computers. I have now found something else that I love doing and I am now focusing my energies on this new career which I am embarking on. I am lucky that I can start this business while I still have a full-time job that pays for the roof over my family's head and pays the bills.

I have come to realise that if I want to become a successful trader, I need to treat it like a business and I am now implementing those steps in setting up this business. My long-term goal is to become a successful trader so that I can work for myself again, but I have many smaller goals to achieve before I even get there. One step at a time!

My view is that if you are playing forex for fun and there is nothing wrong with that, you may or may not be successful. Successful traders say that if you want to be successful, you need discipline and patience, two qualities I need to improve on, as they are my weaknesses.

My advice to anyone if they want to play Forex for fun, is to have at least one discipline. Set aside how much money you are prepared and can afford to lose. Once you have lost that money STOP trading. Don't hide your losses, keep it real, and let go, otherwise you will only make it worse for yourself.

I wish you every success with playing Forex for fun. I know that as it is fun, you will enjoy your time doing so while maybe making some money to boot.
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