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Cable Update (GBPUSD)

  • #249,321
  • Aug 27, 2010 9:04am Aug 27, 2010 9:04am

Alas

Peace And Quite Is Utterly Malapropos Of My Departure . . .
  • #249,322
  • Aug 27, 2010 9:04am Aug 27, 2010 9:04am
closed at 1.5460
  • #249,323
  • Aug 27, 2010 9:06am Aug 27, 2010 9:06am
Quoting witsnpips
stocks would tank yeah, not sure abouyt $ becoming stronger.

That's how it works though.
  • #249,324
  • Aug 27, 2010 9:07am Aug 27, 2010 9:07am
Quoting LostMyShirt
Wrong guess no stop loss yet.. I am watching... added more to my longs at 1.5480

Let me guess, still not stopped out and you are now adding for the 12th time to your longs?

For most traders it is a lot easier to follow the intra day trend, just a suggestion. It is your money, not mine, well in a roundabout way it actually is, so keep doing what you are doing.
  • #249,325
  • Aug 27, 2010 9:07am Aug 27, 2010 9:07am
Quoting witsnpips
stocks would tank yeah, not sure abouyt $ becoming stronger.
Put an ES or DJ chart next to a GU chart and you will see some correlation between the two.
  • #249,326
  • Aug 27, 2010 9:13am Aug 27, 2010 9:13am
I definitely wouldn't be surprised to hear Ben Bernanke talk somewhat bullish to calm the market down... what do you all think?.... pure politics?
  • #249,327
  • Aug 27, 2010 9:14am Aug 27, 2010 9:14am
Quoting joemiami
I definitely wouldn't be surprised to hear Ben Bernanke talk somewhat bullish to calm the market down... what do you all think?.... pure politics?
He's already spoken (via a pre-released transcript at 10 EST)... You've missed his comments?
  • #249,328
  • Aug 27, 2010 9:15am Aug 27, 2010 9:15am
Quoting joemiami
I definitely wouldn't be surprised to hear Ben Bernanke talk somewhat bullish to calm the market down... what do you all think?.... pure politics?

Keep up in the back, that's old news......
  • #249,329
  • Aug 27, 2010 9:15am Aug 27, 2010 9:15am
Quoting cloggie
Let me guess, still not stopped out and you are now adding for the 12th time to your longs?

For most traders it is a lot easier to follow the intra day trend, just a suggestion. It is your money, not mine.
Yeah man.... he's averaging down until the price bounces back up again. A tactic that will only work if you can keep throwing money at it, because sooner or later it will turn and then he closes out for $100 profit while he risked $10,000! The smart way to trade... not!

Still people can't seem to work out their risk to reward ratios whereby the reward should be at least twice as big as their risk, but more often than not it is the other way round which over the long-term will ultimately make you a loser. It is in the maths, but then again maths is not everyone's strongest subject.
  • #249,330
  • Aug 27, 2010 9:15am Aug 27, 2010 9:15am
lol
Thank You
  • #249,331
  • Aug 27, 2010 9:16am Aug 27, 2010 9:16am
Quoting joemiami
I definitely wouldn't be surprised to hear Ben Bernanke talk somewhat bullish to calm the market down... what do you all think?.... pure politics?
Are you trading ES futures for your clients, not knowing this?
  • #249,332
  • Aug 27, 2010 9:17am Aug 27, 2010 9:17am
Quoting cloggie
Keep up in the back, that's old news......
was out taking the dog for a quick walk so i didnt know he already spoke today

gammase: NO, i didnt, preferred to not take any whipsaws today on news
  • #249,333
  • Aug 27, 2010 9:17am Aug 27, 2010 9:17am
Quoting gammase1
Are you trading ES futures for your clients, not knowing this?
He manages 4 million worth, not for long though........
  • #249,334
  • Aug 27, 2010 9:18am Aug 27, 2010 9:18am

c ya next week

Peace And Quite Is Utterly Malapropos Of My Departure . . .
  • #249,335
  • Aug 27, 2010 9:18am Aug 27, 2010 9:18am
Quoting cloggie
He manages 4 million worth, not for long though........
gone down to 3 million and counting now, following this week's moves
  • #249,336
  • Aug 27, 2010 9:19am Aug 27, 2010 9:19am
Quoting gammase1
gone down to 3 million and counting now, following this week's moves

And as soon as his clients see his talents here, the redemptions will take care of the rest.....
  • #249,337
  • Aug 27, 2010 9:20am Aug 27, 2010 9:20am
Quoting cloggie
And as soon as his clients see his talents here, the redemptions will take care of the rest.....
If the market doesn't get to it first!
  • #249,338
  • Aug 27, 2010 9:24am Aug 27, 2010 9:24am
Quoting mygoldenpips
still holding my last short op..
my last op for this week..
seem i already hit weekly target
enter 5537..looking for 5450 for my tp..it also daily pivot.
sl on BE+1

done...
tp hit at 5450..
got more from my weekly target..
off trade for now..
tomorrow can go shoping for "Hari Raya"..with my lovely wife and my 2 kids...
green pips to all of you..
Revesal Trader
  • #249,339
  • Aug 27, 2010 9:24am Aug 27, 2010 9:24am
Quoting bbakker
Yeah man.... he's averaging down until the price bounces back up again. A tactic that will only work if you can keep throwing money at it, because sooner or later it will turn and then he closes out for $100 profit while he risked $10,000! The smart way to trade... not!

Still people can't seem to work out their risk to reward ratios whereby the reward should be at least twice as big as their risk, but more often than not it is the other way round which over the long-term will ultimately make you a loser. It is in the maths, but then again maths...

We are a good 100 pips below when his buying spree started, you would think he finally figured out where the trend is taking us.

The last 24 hours or so have been entertaining, dozens of posters here stirring each other up into a frenzy of buying. Herd mentality at its best. Only a few seasoned posters tried to stem the flow a bit and got pounced upon by all the noobs here.
  • #249,340
  • Aug 27, 2010 9:25am Aug 27, 2010 9:25am
Quoting bbakker
Yeah man.... he's averaging down until the price bounces back up again. A tactic that will only work if you can keep throwing money at it, because sooner or later it will turn and then he closes out for $100 profit while he risked $10,000! The smart way to trade... not!

Still people can't seem to work out their risk to reward ratios whereby the reward should be at least twice as big as their risk, but more often than not it is the other way round which over the long-term will ultimately make you a loser. It is in the maths, but then again maths...
It could also be part of their psychological make-up whereby they simply cannot admit that they are wrong!

I hate to be wrong, but I have learned that I have to accept that I will be wrong in this market sometimes. It is not an easy thing to do, but getting married to a position is fatal. It is one of the hardest things to learn in Forex trading, for me it was anyway, but I have managed to 'let go' and accept defeat with grace once price hits my SL.

Once you can break through this psychological barrier, you will find that you will trade much better. It certainly worked for me.
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