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Cable Update (GBPUSD)

  • #238,481
  • Jul 15, 2010 12:37pm Jul 15, 2010 12:37pm
Quoting cloggie
For some reason the bulk of noobs here just enjoy playing and predicting countertrends, life for them would be so much easier if they could just get their head around what a trend is, how to recognise it and how to buy on opportunities within the trend. Countertrending is not something a noob should even entertain or think about, leave that till you have mastered following the rest of the 1,000's of traders that are all going the same direction.

yup its trading discipline, over trading not waiting for the opportunity to arise, push the boat out and lose just because wanna make a buck quick..and the joke is they think they acting on strong signals.

oh well..

this is the perfect place to this to consolidate..tomorrow i thinking an attempt to cross 1.55..that would be good news
  • #238,482
  • Jul 15, 2010 12:42pm Jul 15, 2010 12:42pm
Quoting nAVIN2007
yup its trading discipline, over trading not waiting for the opportunity to arise, push the boat out and lose just because wanna make a buck quick..and the joke is they think they acting on strong signals.

oh well..

this is the perfect place to this to consolidate..tomorrow i thinking an attempt to cross 1.55..that would be good news
yes, i was one of them with i start trading for nearly half year(6months). Kind of rush and follow only. Even now, i still get mistake entry. There much to learn...
  • #238,483
  • Jul 15, 2010 12:43pm Jul 15, 2010 12:43pm
Quoting special0nefx
yes, i was one of them with i start trading for nearly half year(6months). Kind of rush and follow only. Even now, i still get mistake entry. There much to learn...
thats the first step..knowing this is an area to improve..
  • #238,484
  • Jul 15, 2010 12:54pm Jul 15, 2010 12:54pm
Quoting cloggie
For some reason the bulk of noobs here just enjoy playing and predicting countertrends, life for them would be so much easier if they could just get their head around what a trend is, how to recognise it and how to buy on opportunities within the trend. Countertrending is not something a noob should even entertain or think about, leave that till you have mastered following the rest of the 1,000's of traders that are all going the same direction.
Yes its because as a newbie you tend to do that as you think that as the price has gone up it will come down so let me try to sell it at the top without realising that it will/can still go up.

Also the second thing is that if you have failed to recognise the trend you think oh no others are making loads of money and i am not so the best tning to do now is to try to sell at the top ...

but in both situations you loose ....

I have done it many times and burnt and going thru these forums have helped ...

I am still learning and hope will improve with time ..

the most improtant thing is dicipline .. what i have learnt and trying hard to put to practice is

only trade when there is an oppurtunity .. not because you want to trade.

Please keep on sharing your wisdom and experience its very good learning curve for us newbie's ...

There are many here who share vey good info like yourself, navin,kill, magix etc ...to name a few ....
  • #238,485
  • Jul 15, 2010 12:59pm Jul 15, 2010 12:59pm
Below are 3 simple charts, the top is the H4 with a trend that has been going for 2 months, the middle is the same zoomed into 15 minutes. Trading is as simple as this, find the trend on the higher TF and buy the dips on the lower one. Anyone going long anywhere in the last 2 months would have been in profit. (the ma is a 25sma). A trader waiting patiently for any rejection of the bigger trend on H4 using M15 as his entries would have made a killing in the last 2 months without having to worry about any countertrend or possible reversals of the current trend.

You can add whatever signal or indy you prefer, just stick to the trend. This is trendtrading in its simplest form, put a TL on either a H1/H4, zoom into M15 and keep buying the rejections.

The bottom chart is today, show me where a buy on the dips would not have worked profitably.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: h4 trend.gif Size: 28 KB
Click to Enlarge Name: m15 trend.gif Size: 24 KB
Click to Enlarge Name: m15 trend today.gif Size: 19 KB
  • #238,486
  • Jul 15, 2010 1:00pm Jul 15, 2010 1:00pm
Quoting nAVIN2007
just goes to show people have no idea..
the trendline means buy dips..people are seeing and not believing
We all train through different means. You have to go back to work
All systems of divination, like music itself,work through patterns.
  • #238,487
  • Jul 15, 2010 1:01pm Jul 15, 2010 1:01pm
Quoting cloggie
Below are 2 simple charts, the top is the H4 with a trend that has been going for 2 months, the bottom is the same zoomed into 15 minutes. Trading is as simple as this, find the trend on the higher TF and buy the dips on the lower one. Anyone going long anywhere in the last 2 months would have been in profit. (the ma is a 25sma). A trader waiting patiently for any rejection of the bigger trend on H4 using M15 as his entries would have made a killing in the last 2 months without having to worry about any countertrend or possible reversals of the...
The biggest thing for me was getting over the feeling of "opps, I missed it", thus then what do you do, you sit and wait to try to time it exactly coming the other way.

The correct thought should not be "opps I missed it", but rather "hey, now I know which direction it is going and I know which way to trade this". It is just as simple as changing your perception of reality....
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,488
  • Jul 15, 2010 1:02pm Jul 15, 2010 1:02pm
Quoting nAVIN2007
tomorrow i thinking an attempt to cross 1.55..that would be good news
You are high on pips!!!!

This Pip pipe expains why you have been chatty cathy all day today

Attached Image
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,489
  • Jul 15, 2010 1:03pm Jul 15, 2010 1:03pm
a pending buy order around the ema200 at M1 could have given you nice pips this afternoon
  • #238,490
  • Jul 15, 2010 1:04pm Jul 15, 2010 1:04pm
Quoting huskyboy
a pending buy order around the ema200 at M1 could have given you nice pips this afternoon
You should read my signature!
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,491
  • Jul 15, 2010 1:10pm Jul 15, 2010 1:10pm
Quoting damonl
The biggest thing for me was getting over the feeling of "opps, I missed it", thus then what do you do, you sit and wait to try to time it exactly coming the other way.

The correct thought should not be "opps I missed it", but rather "hey, now I know which direction it is going and I know which way to trade this". It is just as simple as changing your perception of reality....

dont know about you but for me its not just that simple, it has been damm difficult to change my vieuw, but you are wright thats the difference between gain and loss.
  • #238,492
  • Jul 15, 2010 1:13pm Jul 15, 2010 1:13pm
Quoting huskyboy
dont know about you but for me its not just that simple, it has been damm difficult to change my vieuw, but you are wright thats the difference between gain and loss.

That is exactly the way it was for me... all better now though
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,493
  • Jul 15, 2010 1:15pm Jul 15, 2010 1:15pm
Quoting damonl
You are high on pips!!!!

This Pip pipe expains why you have been chatty cathy all day today

Attachment
Hello, where did you get your stripey horse from? I have a spotty one..Oh well..
All systems of divination, like music itself,work through patterns.
  • #238,494
  • Jul 15, 2010 1:16pm Jul 15, 2010 1:16pm
Quoting huskyboy
dont know about you but for me its not just that simple, it has been damm difficult to change my vieuw, but you are wright thats the difference between gain and loss.
Threads like this like to overcomplicate things when it comes to trading, Lots of posters here want to appear to be clever by predicting tops and reversal.

Fact: we have been in an uptrend for 2 months
Fact: countertrading is not for noobs

Your preparation in the morning should be to open the hourly showing 40-60 bars to show you the trend we are in and drawing a line. Buy the rejections of that line. Strategy done.

Now by all means add some indies you like or some form of whistle blowing entry signal or even a simple fast ma, but stick to your trend and only buy in the direction of the trend until that changes and you are on to a winner.

If during the day your line gets broken, wait for it to come back to it and buy in the direction of your trend again.

Do that 100 times and your win/loss ratio will be over 50%, now all you have to work on is your MM, buying the trend and setting your stops at the next Support is a good start, buying at support on the hourly and H4 is also something you need to look at.

All you have to do to make money in trading is have more winners then losers, buying with the trend will make that job lots easier.
  • #238,495
  • Jul 15, 2010 1:18pm Jul 15, 2010 1:18pm
Quoting kaspopsicle
Hello, where did you get your stripey horse from? I have a spotty one..Oh well..
I don't remember where, but it is neat!
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,496
  • Jul 15, 2010 1:18pm Jul 15, 2010 1:18pm
Quoting huskyboy
a pending buy order around the ema200 at M1 could have given you nice pips this afternoon
this entry would've yielded 400 pips up to date
1. http://www.forexfactory.com/showpost...stcount=237452

or a break of the H1 30sma @1.5056 on the 13th of July would've yielded about 350 pips up to date.

yes, things are always nice to look at after the fact
Thank You
  • #238,497
  • Jul 15, 2010 1:24pm Jul 15, 2010 1:24pm
The other hard thing which I still have not gotten over yet is to look at open trades objectively. Losses don't bother me anymore, but I find that still lots of times I watch the pips or the money and forget to look objectively at the chart.

This would of course be different on a short scalp, but for longer trades I think it is imperative to not watch the terminal and read the charts and the bars.....
"Keep your eyes on the helpers" - Mr. Rogers
  • #238,498
  • Jul 15, 2010 1:25pm Jul 15, 2010 1:25pm
Quoting damonl
I don't remember where, but it is neat!
its sooo neat i'm thinking of repainting mine
All systems of divination, like music itself,work through patterns.
  • #238,499
  • Jul 15, 2010 1:28pm Jul 15, 2010 1:28pm
Wormboy what indi is that about the pivots; is that LC-Pivots ? Thanks
  • #238,500
  • Jul 15, 2010 1:44pm Jul 15, 2010 1:44pm
Anybody here still countertrending this one? OR have we finally given up dissapearing into blown account oblivion and getting used to the fact that buying with the trend is so much easier?
Attached Image (click to enlarge)
Click to Enlarge Name: countertrend.gif Size: 20 KB
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