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Cable Update (GBPUSD)

  • #239,481
  • Jul 20, 2010 7:12am Jul 20, 2010 7:12am
Quoting mloistianto
Actually thats no true.. some people prove theirself better than other.. well most of them stop posting eventually. Bull Bear, Global Macro, Grashid, and many more.. Sorry if i cant put every good traders name.. But, yes, you cannot learn how to trade in here. The best way or method to learn how to trade is experience.. 7 years should make u a great trader. if not, I questioned your selfskill..
my trading skill is not bad at all...
doing great..
not there richest man here..
but enough for me and my family..
that mean i cant learn from other trader?
trading is continues learning process..
before i dont use MA..thank to mr.magix i understand how MA works..
everday we found something new...
Revesal Trader
  • #239,482
  • Jul 20, 2010 7:12am Jul 20, 2010 7:12am
Quoting damonl
hmmm.. could be... I sure did like what I saw though.

Or did you see what you wanted to see? Assume and assure, only one letter.
  • #239,483
  • Jul 20, 2010 7:15am Jul 20, 2010 7:15am
Quoting cloggie
Well, it does seem a bit more logical to me. We got some dollar news coming out in a bit, should be no surprise though anticipating bad numbers as the subsidy ran out.
expecting price to find support there and rise.Good luck bro.
  • #239,484
  • Jul 20, 2010 7:18am Jul 20, 2010 7:18am
Quoting cloggie
Or did you see what you wanted to see? Assume and assure, only one letter.

hmmm.. no, I think I had a good supporting cast, the only thing not in my favor was the lower 1Hr Trendline and perhaps confirmation on the doji, but based on where the doji happened I felt pretty good about it.
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,485
  • Jul 20, 2010 7:19am Jul 20, 2010 7:19am
important update

http://www.forexfactory.com/showthre...83#post3886383
  • #239,486
  • Jul 20, 2010 7:21am Jul 20, 2010 7:21am
Quoting ams
order kicked @ 51600 SL 51300....might alter it to 151 based on PA.

ta
ams
Hi Ams, What is your target TP if i may know?
cheers bro!
  • #239,487
  • Jul 20, 2010 7:23am Jul 20, 2010 7:23am
Quoting OldReigatian
BB think he was giving it the "Ivor Big 'Un"!

In all seriousness though good luck to the guy, if it works out that's what we should all be wanting to see for each other. I had the same sort of call with cloggie last week. Why is it that you both think your style is trading and his is gambling. Surely you are only entering at a point you think you are going to make money. We have already seen that different brokers report different prices on their 4 hourly charts so none of us have a perfect methodology.
Nothing wrong with being a Swing Trader. I have been forced to swing trade as I have no access to my MT4 platform during the day and I can only control my trades in the mornings and evenings. Yesterday, I posted my trade here -
http://www.forexfactory.com/showthre...08#post3884108

My target is ~1.5 and then let's see what happens when we get there! My trailing stop is massive, but I have already locked in profit and this has been my only trade since last week. I missed the Euro this morning, as I had a short order at 1.3065 with a SL at 1.3100, but otherwise that is it for my trading these last 10 days. You have to be much more selective when swing trading!

His trading style is gambling because there is zero Money Management involved. He starts an account with $100 and risks 15% of the account on his first position. Money Management rules state 1%, max and I mean MAXIMUM 2% of your account on any position. Anyone that is not adhering to any sort of Money Management rules in my eyes is gambling.

You can easily still make 6% per day as Dr D. says, by risking 2% on a position and ensuring the R/R ratio is 3:1 on the trade.

I have already locked in 3:1 and looking at 10:1 if I reach my target. Swing trading is a very different style of trading and requires serious amounts of patience. You also must be VERY selective when entering the market and one will miss many opportunities, like I did with the Euro this morning, but that is what swing trading is all about.

So no, I am not against the style of reversal or swing trading. I am against his non-existent money management skills. This is how 95% of people lose money! Not because they know when to go long or short!
  • #239,488
  • Jul 20, 2010 7:23am Jul 20, 2010 7:23am
Quoting bbakker
7 years and you still call yourself a newbie?
http://www.forexfactory.com/showthre...88#post3841988
http://www.forexfactory.com/showthre...42#post3423942
http://www.forexfactory.com/showthre...05#post3380605
http://www.forexfactory.com/showthre...11#post3367111

I smell something and it ain't pretty! Iggy Pop loves BS.
number off years trade dont not matter dude...
we a malay..we humble,respect other..
why i BS?
what i get from it?
think...
okas..i said what i have to said..
manage to make 1000usd from 100usd on mini acc in one day...
if you guy said mini acc cant make money that is BS
it not how much capital you got is important
nevermind mini or standard acc what important is make money out of it..
enough is enough...i think i prove my point here
now back to trader on my main acc..
still got nothing from my main acc today..just to prove it wrong
Revesal Trader
  • #239,489
  • Jul 20, 2010 7:28am Jul 20, 2010 7:28am
Quoting damonl
hmmm.. no, I think I had a good supporting cast, the only thing not in my favor was the lower 1Hr Trendline and perhaps confirmation on the doji, but based on where the doji happened I felt pretty good about it.

Doji tops and bottoms are distinctly different, you can sell a Doji at the top, but the bottom always requires confirmation first. The reversal signal at the bottom is the bar afterwards, not the Doji itself.
  • #239,490
  • Jul 20, 2010 7:31am Jul 20, 2010 7:31am
Quoting cloggie
Doji tops and bottoms are distinctly different, you can sell a Doji at the top, but the bottom always requires confirmation first.
Funny you mention that... I have noticed that with most all candlestick formations. The tops are easier and require less confirmation than the bottoms. Funny, I wonder why that is?

wow.. no help from the news, which is not surprising...
"Keep your eyes on the helpers" - Mr. Rogers
  • #239,491
  • Jul 20, 2010 7:39am Jul 20, 2010 7:39am
Quoting bbakker
Nothing wrong with being a Swing Trader. I have been forced to swing trade as I have no access to my MT4 platform during the day and I can only control my trades in the mornings and evenings. Yesterday, I posted my trade here -
http://www.forexfactory.com/showthre...08#post3884108

My target is ~1.5 and then let's see what happens when we get there! My trailing stop is massive, but I have already locked in profit and this has been my only trade since last week. I missed the Euro this morning, as I had a short order at 1.3065...
that when u wrong..
MM i use is SL..
if no MM..why i use SL...each OP have SL..amount i rather loss..
dont stick to your MM rules..try to open your mind..
i have nothing againts you..
but for me entry point is important...if you got correct entry point..you can control your SL..
it not gambling if you know what your a doing..MM is the safe way to trade,but it not the only way..
95% lose money becouse they dont know what there a doing..
and also about this 95% lose money..i been hearing this about a few years now..
are we still have 95% lose trader lose they money now?
why this number dont not improve?..
it just number for me..trader now a smart,trading skill are improve
surely we dont need 100% right..some trade loss,some trade win..
but what count is in the end off there day..
knowing went to lose is important..
and again it nothing personal againts you..
but i think your MM rules is BS..
Revesal Trader
  • #239,492
  • Jul 20, 2010 7:42am Jul 20, 2010 7:42am
Quoting bbmac
.... 5156/57 is 61.8% 4963-5471 with 38.2% 4640-5471...close behind at 5148 is 61.8% of 4949-5471...
Price finding support there as mni talked also of bids to 5150...with hi-probability 5min bullish divergence based reversal /pullback set-up below....

G/L
Attached Image (click to enlarge)
Click to Enlarge Name: 1310 5min Rev C.gif Size: 24 KB
ex member
  • #239,493
  • Jul 20, 2010 7:45am Jul 20, 2010 7:45am
re set-up above, further confluence with the bottom of the 2 x 1hr descending channels...shown below

G/L

http://i25.tinypic.com/ip1elh.gif
ex member
  • #239,494
  • Jul 20, 2010 7:49am Jul 20, 2010 7:49am
Quoting mygoldenpips
that when u wrong..
MM i use is SL..
if no MM..why i use SL...each OP have SL..amount i rather loss..
dont stick to your MM rules..try to open your mind..
i have nothing againts you..
but for me entry point is important...if you got correct entry point..you can control your SL..
it not gambling if you know what your a doing..MM is the safe way to trade,but it not the only way..
95% lose money becouse they dont know what there a doing..
and also about this 95% lose money..i been hearing this about a few years now..
are we still have 95% lose...
When you joined in Jan 2010, you said that you were a newbie and now you state you have been trading 7 years. Why don't you go through your own history of posts. What is it going to be? Are you a newbie to trading like you have stated in previous posts that I pulled out, or are you an experienced trader.

It is your LACK OF MONEY MANAGEMENT SKILLS! You have proved FOOK ALL. I can make $1000 from a $100 by backing a horse that is 10/1 and if it comes in, I have done the same thing.

You CAN make money from a Mini Account or a Standard Account, it does not matter what account you use so long you use proper Money Managment. But giving people the hope that you can 10x your account in one day proves nothing apart from that it is a complete gamble.

You just don't get it, do you! I pity any newbies who try to do the same that you just done to try and multiply their account by a factor of 10 in 1 day!

From your lack of money management skills, you are definitely a newbie!

I have nothing more to say to you. Goodbye!
  • #239,495
  • Jul 20, 2010 7:50am Jul 20, 2010 7:50am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
One more DIP and I'll BUY the Euro as well around 28300-500.


ta
ams

Quoting ams
order kicked @ 51600 SL 51300....might alter it to 151 based on PA.

ta
ams
  • #239,496
  • Jul 20, 2010 7:53am Jul 20, 2010 7:53am
Quoting ams
One more DIP and I'll BUY the Euro as well around 28300-500.


ta
ams

I may have to revisit my bias and join you shortly on both. Let's see what the next hourly brings.
  • #239,497
  • Jul 20, 2010 7:54am Jul 20, 2010 7:54am
Quoting mygoldenpips
that when u wrong..
MM i use is SL..
if no MM..why i use SL...each OP have SL..amount i rather loss..
dont stick to your MM rules..try to open your mind..
i have nothing againts you..
but for me entry point is important...if you got correct entry point..you can control your SL..
it not gambling if you know what your a doing..MM is the safe way to trade,but it not the only way..
95% lose money becouse they dont know what there a doing..
and also about this 95% lose money..i been hearing this about a few years now..
are we still have 95% lose trader...
Remember this post -
http://www.forexfactory.com/showthre...80#post3620680

You asked ME what MY Stop Loss was!
  • #239,498
  • Jul 20, 2010 7:58am Jul 20, 2010 7:58am
Quoting damonl
Funny you mention that... I have noticed that with most all candlestick formations. The tops are easier and require less confirmation than the bottoms. Funny, I wonder why that is?

wow.. no help from the news, which is not surprising...

I know you like patterns, we are set for a morning star on the 30
  • #239,499
  • Jul 20, 2010 7:59am Jul 20, 2010 7:59am
Quoting cloggie
Doji tops and bottoms are distinctly different, you can sell a Doji at the top, but the bottom always requires confirmation first. The reversal signal at the bottom is the bar afterwards, not the Doji itself.
Bookmarked, printed and framed
  • #239,500
  • Jul 20, 2010 8:01am Jul 20, 2010 8:01am
Now I am really signing off for at least a few weeks! Be good, be careful, have fun and STICK TO YOUR MONEY MANAGEMENT RULES
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