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Cable Update (GBPUSD)

  • #243,661
  • Aug 5, 2010 10:46am Aug 5, 2010 10:46am
Quoting cloggie
It is never enough...
I hope you take some long vacations now and then.
  • #243,662
  • Aug 5, 2010 10:50am Aug 5, 2010 10:50am
Quoting chitindu
5 min or 15 mins TF cloggie, please could u specify the number for me to understanding for now

There is no point me telling you (again), you need to find your own strategy and setups, no point copying someone else if you don't understand the ins and outs you will never make money.

That post where I gave those levels to keep the longs going was a continuation of a post where some of us took the long from 5837. We had been discussing a trade that has been going for close to 50 pips, getting in now and expecting a similar success rate is a seperate setup.
  • #243,663
  • Aug 5, 2010 10:52am Aug 5, 2010 10:52am
i was trying to understand ur action plan.........i didnt take the trade there...............as i dont understand very much technical words being a novice.
  • #243,664
  • Aug 5, 2010 10:54am Aug 5, 2010 10:54am
Quoting chitindu
i was trying to understand ur action plan.........i didnt take the trade there...............as i dont understand very much technical words being a novice.

Do yourself a huge favour and start here: www.babypips.com

This is a trading thread where a certain knowledge of terminology is a prerequisite. IF you want to understand the plan, read every post since last Friday, dozens of us have gone over it several times.
  • #243,665
  • Aug 5, 2010 10:55am Aug 5, 2010 10:55am
i have already done iwth babypips.
  • #243,666
  • Aug 5, 2010 10:56am Aug 5, 2010 10:56am
thanx a lot
  • #243,667
  • Aug 5, 2010 10:57am Aug 5, 2010 10:57am
Looks likely to top at 1.64ish, then down again.
Need a Profitable Trading System? --> PM me.
  • #243,668
  • Aug 5, 2010 11:04am Aug 5, 2010 11:04am
Found another one.
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  • #243,669
  • Edited 11:20am Aug 5, 2010 11:05am | Edited 11:20am
Quoting cloggie
The 30 looks good. On the H4 the middle one is too low, it should straddle the lower PA higher up putting it almost in the middle.
Cloggie,

I have to say I am extremely impressed by your professionalism and the attitude you demonstrate towards laying out your plans, carrying them out and consistently repeating the same procedure over again...

Although we may use different methodologies...there is a common line that runs through all the top achievers and successful people:

Re-iterating the basic principles that you believe in "aloud" by propagating them and walking even others through them you practically are at the final level of the battle as a top trader...your belief sets echoeing through your mind...drilling the same principle over and over and over again so the mind has zero chance of deviation and taking control...

No Sir you become the master of your own mind and destiny instead of the other way around and command it to do what you believe to be the right thing by programming it this way...

this steadfastness in the face of monotony and inertia breeds strength of character and consistency and conquers the inner demon of mediocrity and inferiority...

This work ethics is what every professional should strive to adopt...regardless of what methodology or what goals and no matter in what field of endeavor...

You got my vouch any time, my man...


Stay The Way You Are
and
More Power To You!
Hear the music before the song is over ...
  • #243,670
  • Aug 5, 2010 11:17am Aug 5, 2010 11:17am
Quoting GlobalMacro
Cloggie,

I have to say I am extremely impressed by your professionalism and the attitude you demonstrate towards laying out your plans, carrying them out and consistently repeating the same procedure over again...

Although we may use different methodologies...there is a common line that runs through all the top achievers and successful people:

Re-iterating the basic principles that you believe in "aloud" by propogating them and walking even others thru them you practically are at the final level of the battle as a top trader...your...
GM,

That is without a shadow of a doubt or the slightest
of exaggeration, or embellishment the finest tribute
I have seen given to a member of these forums.

Dr. D.
  • #243,671
  • Aug 5, 2010 11:28am Aug 5, 2010 11:28am
hello everyone, can i ask from where you get ur support and resistance levels? or are you using previous areas of consolidation as support and resistance?

i would like to thank everyone who has been helping us newbies, the information given is vital, although i havent been able to put all of it to use yet, i still managed to make my first 100 pips today...

yet still i have issues with emotional control, was up 49pips and didnt take it like a muppet, and it broke even...
  • #243,672
  • Aug 5, 2010 11:31am Aug 5, 2010 11:31am
Quoting fourxtrader
GM,

That is without a shadow of a doubt or the slightest
of exaggeration, or embellishment the finest tribute
I have seen given to a member of these forums.

Dr. D.
I appreciate your kind words Doc,

it's truely an honor and inspiration to be among a handful of people who are demonstrating what it takes to achieve something and not just "wanting" it

I call it...You really have to WANT IT .....

Blood, Sweat, And Tears...that's invoking the magic..
Hear the music before the song is over ...
  • #243,673
  • Aug 5, 2010 11:34am Aug 5, 2010 11:34am
Quoting GlobalMacro
Cloggie,

I have to say I am extremely impressed by your professionalism and the attitude you demonstrate towards laying out your plans, carrying them out and consistently repeating the same procedure over again...

Although we may use different methodologies...there is a common line that runs through all the top achievers and successful people:

Re-iterating the basic principles that you believe in...

All I can say is thank you. I do lose my patience at times with some posters here, purely because some trade calls are so silly it beggars believe. And I do try to make a difference here. In a perfect world all retailers would be profitable, there is enough money to go around.

Once again, thank for your kind words.
  • #243,674
  • Aug 5, 2010 11:36am Aug 5, 2010 11:36am
Quoting mdiz2
Found another one.

Careful there, not every breakout is worth trading just because they happen. On GC the hourly is consolidating on that last drop and is actually on the way up, that break was a good example of a fakeout, just a bit of late profit taking by some traders. The point I have been trying to make is focusing on price by means of levels that give in the direction of the intermediate trend.

Just watch this one closely and keep your stops tight, top of the range should be good. Also CHF crosses don't behave the same way Cable does. Especially after London is closed, not much call for it.

You are a bit late on this trade, the breakout of the reversal at the bottom would have been the one to trade, and this break is just the confirmation/rejection of that earlier breakout.
  • #243,675
  • Aug 5, 2010 11:39am Aug 5, 2010 11:39am
Proof that traders have no imagination.
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  • #243,676
  • Aug 5, 2010 11:40am Aug 5, 2010 11:40am
Quoting trending
Proof that traders have no imagination.

Doc, here is your starfish again, did you ever figure out what it confirmed?
  • #243,677
  • Aug 5, 2010 11:42am Aug 5, 2010 11:42am
Guess i start get my own TL chart clog, let see how it play. Seriously I prefer m30 chart and candle pattern
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  • #243,678
  • Aug 5, 2010 11:42am Aug 5, 2010 11:42am
Quoting cloggie
Careful there, not every breakout is worth trading just because they happen. On GC the hourly is consolidating on that last drop and is actually on the way up, that break was a good example of a fakeout, just a bit of late profit taking by some traders. The point I have been trying to make is focusing on price by means of levels that give in the direction of the intermediate trend.

Just watch this one closely and keep your stops tight, top of the range should be good. Also CHF crosses don't behave the same way Cable does. Especially after London...
You are right again. Watching the trend lines I have to see if it can go lower than the last try down. If not I am out with a small loss.
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  • #243,679
  • Aug 5, 2010 11:46am Aug 5, 2010 11:46am
Quoting mdiz2
You are right again. Watching the trend lines I have to see if it can go lower than the last try down. If not I am out with a small loss.

This is good, you will learn more from mistakes then you ever will from copying someone else. Having a box in mind, in effect focuses you on 2 levels that become important in your trade, one that confirms that you are on the right track and one that tells you to chuck it and look for something else. And it was a nice example of a fake 'n shake..... (fake a break, shake the tree to collect some retail money and move on; a nice little sucker break. And guess what, you got suckered.)

As an aside, if you draw that box slightly slanted you actually have a nice bull flag with 3 touches to the top and 2 to the bottom, textbook.
  • #243,680
  • Aug 5, 2010 11:47am Aug 5, 2010 11:47am
as you've all indicated indicators are next to useless, what about SSI data, ie. sentiment data? is that relevant? or are we just basing our educated guesses on candlesticks and price action?
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