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Cable Update (GBPUSD)

  • #246,561
  • Aug 18, 2010 6:51am Aug 18, 2010 6:51am
Hello!

Worthy short to be left over or let me get out?
1.5631 are the shorts.
  • #246,562
  • Aug 18, 2010 6:52am Aug 18, 2010 6:52am
Quoting pawpaw1000
I learnt that from you cloggs! I really can't believe people would do that! What was he promising and what exactly were his "clients" smoking sending 100k to someone they don't kno???
He was promising riches .. probably said they would all become milionaires within a few months .. I can only 'assume' that people who even have $100 k to send to a total stranger, have more money so they are not entirely wiped out. If anyone sent him $100k and that was ALL they had .. well ...
I guess the old adage 'a fool & his money are soon parted' strikes again!
******************* I'd rather make money than be right.
  • #246,563
  • Aug 18, 2010 6:53am Aug 18, 2010 6:53am
Quoting wormboy
yes. i thought the 1.63 brigade had gone a bit quiet & pop comes this fella calling for 1.6 and going long for the next 2 weeks. Not saying that it can't happen, but a chart to support that call would be nice. Then again, this is the cable thread. what was i thinking?

I have W1 pvp @5718. I'm reluctant to buy unless price clears that level.
I'm not going to speak for the other guy, but if you look at a weekly chart, I would say something like "we've dropped 600ish pips in a largely unretraced 1800 pip run and you guys are calling it over?". Is it possible that this is just a quick retrace to touch the heavy resistance from back in April (that we just blew by without much turbulence) that is now support?

http://www.shawntom.com/charts/100818_gbpusd_w1.gif
  • #246,564
  • Aug 18, 2010 6:53am Aug 18, 2010 6:53am
Quoting 4xStar
If anyone sent him $100k and that was ALL they had .. well ...
I guess the old adage 'a fool & his money are soon parted' strikes again!

Quite a few there borrowed the money to send him and for a lot of them it was all they had.
  • #246,565
  • Aug 18, 2010 6:54am Aug 18, 2010 6:54am
Quoting cloggie
I shouldn't really laugh, but yeah he did.
well im surprised to say the least..damn

Quoting 4xStar
He was promising riches .. probably said they would all become milionaires within a few months .. I can only 'assume' that people who even have $100 k to send to a total stranger, have more money so they are not entirely wiped out. If anyone sent him $100k and that was ALL they had .. well ...
I guess the old adage 'a fool & his money are soon parted' strikes again!
the sad truth is: a person who has little money is likely to give everything unfortunately cause the dream they chasing eludes them (this is what i thing anyway)
Attached Image (click to enlarge)
Click to Enlarge Name: chart1.gif Size: 28 KB
  • #246,566
  • Aug 18, 2010 6:54am Aug 18, 2010 6:54am
Moved Cable short to BE and just shorted fibre on rejection of m25 on m5... (broke and went back to test with nice rejection)

up 15 on cable and 5 on fibre, will move fibre to BE as soon as I get up 14 pips...
@pawpaw1000 on Twitter
  • #246,567
  • Aug 18, 2010 6:56am Aug 18, 2010 6:56am
Quoting nAVIN2007
well im surprised to say the least..damn

He made at least 4 mill out of the FF members here, he was on quite a few more forums so the total could well be a multiple of that.
  • #246,568
  • Aug 18, 2010 6:59am Aug 18, 2010 6:59am
Quoting cloggie
...they are running a little tally over on the thread and it is over 4 Million, nice little earner for a failed trader.

A good example of how people that sell you a trade signal / fund on the web can't really trade themselves, why else would they do that. Lots more profitable to trade your own money.
You know, FF should perform a public service by putting the above sentence at the top of every page in big bold letters ..
WHY do people think that a SUCCESSFUL trader would be wasting even a minute hawking 'guaranteed signals' or soliciting clients to manage their funds! It is absurd.

Or put another way .. a successful trader can turn $1k into $1 million within 2 years (at most) so if you were collecting money from people, legitimately, to form a trading fund, why would you want more than $1k from each person .. probably only $100 .. or even $10 from 100 people .. within a few years everyone has a bunch of money and no risk....

People are so desperate to believe in a 'leader' ... and that is .. coincidently .. the underlying reason the world is in such a mess....
******************* I'd rather make money than be right.
  • #246,569
  • Aug 18, 2010 7:02am Aug 18, 2010 7:02am
Quoting cloggie
He made at least 4 mill out of the FF members here, he was on quite a few more forums so the total could well be a multiple of that.

holly cow!!! I believe he was a good trader thou..thou i have no proof of that just goes to show how a reputation can work

if i had to guess..he planned to make zillions and lot everything and run
  • #246,570
  • Aug 18, 2010 7:02am Aug 18, 2010 7:02am
Quoting 4xStar
Or put another way .. a successful trader can turn $1k into $1 million within 2 years (at most) so if you were collecting money from people, legitimately, to form a trading fund, why would you want more than $1k from each person .. probably only $100 .. or even $10 from 100 people .. within a few years everyone has a bunch of money and no risk....
As they say....if it sounds too good to be true, it probably is
Doing what you like is Freedom. Liking what you do is Happiness.
  • #246,571
  • Aug 18, 2010 7:04am Aug 18, 2010 7:04am
Afternoon guys and gals, not posted for a week or so, but been trading quite steadily (100 ish pips per day).

Hope you are all well.

Can see the US taking us up to around todays high (maybe bit higher) before a sell off back down to the 1.56 zone for close of play.

Good luck all
  • #246,572
  • Aug 18, 2010 7:04am Aug 18, 2010 7:04am
Quoting 4xStar
Not sure .. I saw a bull flag forming on 5 min and it started to breakout, but now is forming a consolidation .. I can draw my first box of the day .. we'll see which way she breaks...

I found this indi for box trades. I know it is very easy to draw boxes your self but this is nice. Like to know what you think about it.

Been following this thread . . .you and cloggie . . on this type of trading
getting a real education I must say
Attached File(s)
File Type: ex4 FlexBox_Indicator.ex4   5 KB | 289 downloads
  • #246,573
  • Aug 18, 2010 7:05am Aug 18, 2010 7:05am
Quoting cloggie
Morning all, missed the runup this morning. Got a bit of catching up to do.

Plenty of entertainment value here today, see that Oxford got himself suspended, who did he p!ss of this time?
lol.
  • #246,574
  • Aug 18, 2010 7:06am Aug 18, 2010 7:06am
They caught him 3 days ago is what i heard.

Quoting cloggie
I shouldn't really laugh, but yeah he did.
  • #246,575
  • Aug 18, 2010 7:09am Aug 18, 2010 7:09am
Quoting RealPips
I'm not going to speak for the other guy, but if you look at a weekly chart, I would say something like "we've dropped 600ish pips in a largely unretraced 1800 pip run and you guys are calling it over?". Is it possible that this is just a quick retrace to touch the heavy resistance from back in April (that we just blew by without much turbulence) that is now support?

http://www.shawntom.com/charts/100818_gbpusd_w1.gif
it's possible. That support you mention also happens to be the monthly pvp & the first target level I have in mind @5420.
Thank You
  • #246,576
  • Aug 18, 2010 7:09am Aug 18, 2010 7:09am
Quoting Nene
They caught him 3 days ago is what i heard.

I do hope so, even though the money is probably long gone. There have been so many of us hammering on all these commercial guys here, from bloggers making money on linkthroughs to signal services sold in the commercial section.

This is a great example that there are no shortcuts to making money in FX, put in your time, do your research, learn to trade, take it slowly slowly catchy monkey and eventually you will make it.

I keep telling noobs here, it will take 10,000 hours of screen time before you get the hang of it consistently. And I am probably not far of.
  • #246,577
  • Aug 18, 2010 7:10am Aug 18, 2010 7:10am
were getting a nice tightening of PA here! Wondering which way it will go?

I have my S/l on my fibre set at -10pips which is not bad seeing as it's about .2% of my account and cable at be...

So guess I'm short biased!
@pawpaw1000 on Twitter
  • #246,578
  • Aug 18, 2010 7:10am Aug 18, 2010 7:10am
Quoting Nene
They caught him 3 days ago is what i heard.
If so, I doubt they will ever find the money....
******************* I'd rather make money than be right.
  • #246,579
  • Aug 18, 2010 7:11am Aug 18, 2010 7:11am
Quoting nAVIN2007
well im surprised to say the least..damn
that was my initial reaction too
Gotta hand it to him, he sure knew how to sell himself. Jacko is now the factory's most decorated scumbag lol
Thank You
  • #246,580
  • Aug 18, 2010 7:12am Aug 18, 2010 7:12am
Quoting dryclean
I found this indi for box trades. I know it is very easy to draw boxes your self but this is nice. Like to know what you think about it.

Been following this thread . . .you and cloggie . . on this type of trading
getting a real education I must say
Thanks .. I will check it out.

Nice little consolidation on the 5 min .. my crystal ball says she will either break north .. or south .. from here

(I vote north... but that & $6 will get you a latte from Starbucks..)
******************* I'd rather make money than be right.
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