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Cable Update (GBPUSD)

  • #252,421
  • Sep 12, 2010 2:35am Sep 12, 2010 2:35am
Quoting vilas
Thanks, Navin. Every post like this pointing to problems outside of the narrow confines of FF is worth 10 from Guru-corrections. Magix whom I have credited before for initiating total novices into mini-money-making secrets too is a victim of small-money-syndrome which will not help solve the Mega-problems as referred to in your Post quoting PP.

[color=blue]The mini-problem of making money - biggest concern of Newbies is best solved by, frankly, Copy-trading someone in whom they have developed trust by testing him out. I am...
i posted this 4hr chart for a reason..the trendline were good..but i dont trade of the 4hr so it means nothing...anyway the empty vessels have made huge sound..lets see how she plays out..

magix (ace) mouth will be closed for good after this:- he will realise himself he has plenty to learn.

I take pride in the fact that he is following my post with such detail
  • #252,422
  • Edited 7:10am Sep 12, 2010 3:12am | Edited 7:10am
Quoting Magix
Dude, only second by time of response is brother Clogs...

Donutkid and marking his words are exceptional.

This really only gets better by the day/post.

Funny, Jimbo almost makes it seem like I was the reason his son is in the hospital...if you read enough...
LOL... too true... Cloggie is exceptional! A spade is a spade!

I haven't been following Donutkid at all, nor was I aware of his posts until IbkA mentioned it, so I wandered over to his thread for a gander and just pointed out the bleeding obvious. The follow up posts were remarkable, apart from my post of apology.

I spend far too much time on here anyway, as pointed out on several occasions by Temps (he's not wrong either), even though I enjoy it and made some great friends, I still have a lot of things to be getting on with and this place can detract. Hence I don't want to be drawn into further flaming wars. I can be stubborn, always have an answer to everything and lack patience, weaknesses that I need to address, which I believe I am doing. Even Temps and I have managed to settle our differences and that is a good thing. But it is the likes of you, Cloggie, Doc, Digger, Kill (I miss him) and others that make it an irresistible place that pulls me back into it, as I continue to build my knowledge of trading.

I find public forums fascinating places, a microcosm of the real world, apart from the fact that people have the comfort zone of being detached from it by sitting behind the safety of their computer screen. It is akin to road rage and it is amusing until it gets out of hand and drives people away, especially the good ones as they get tired of fighting the scammers, fakers, bullshitters and other nasty elements trying to mislead and misinform the noobs.

Trading is not for everyone and some people do set themselves up to fail right from the start without ever stepping back, in order to look in the mirror. Trading is not just a journey about learning to trade, it is also a journey of self discovery and you might not like the things you learn about yourself. Fight or flight mode sets in, those who fight to improve themselves and those who flight, ignore the facts and continue their perilous ways.

I am rambling on bit now and I have many things to do. Temps, please shoot me before I hit the 3000 posts mark
  • #252,423
  • Sep 12, 2010 3:39am Sep 12, 2010 3:39am
Quoting nAVIN2007
i posted this 4hr chart for a reason..the trendline were good..but i dont trade of the 4hr so it means nothing...anyway the empty vessels have made huge sound..lets see how she plays out..

magix (ace) mouth will be closed for good after this:- he will realise himself he has plenty to learn.

I take pride in the fact that he is following my post with such detail
nAVIN I do not trade long term and is quite fascinated with the way you trade. However, I do have a question, at what point do you PLAN to close your trades regardless of win or loss? You do have a plan right?
  • #252,424
  • Sep 12, 2010 3:54am Sep 12, 2010 3:54am
"""""This is a question for you and other experienced traders here...
As i said i have been trading over an year now and quite successful at it...I am an engineer by education and I am in my mid 20's... I make around 2-3k on an average every month (on a 20k capital). . But I am finding Forex required heck a lot of discipline, loads of screen time every day (I am a short term player) and loaaads of patience, waaay more than any other job that i know... I know I can make the same amount of money, likely way more, working as an engineer somewhere. I am sure that job won't be as hard and as depleting as forex trading... Now my question to you guys is,

Do you guys think forex is very hard and its relatively easy for "educated people (no offence, lack of a better term)" to find a job in their area?
Is forex trading suitable for older/retired people? (because can do it from home and less strain physically)
Is there anybody making tens of thousands of dollars every month by small capital like 20k? (without taking big draw downs, i am not comfortable seeing big draw downs in my account)
I think the ultimate question is, Why are you guys trading forex if you can find less stressful, better paying job??

Thanks a lot in advance for the comments.
Sorry for the language and spelling mistakes, English is not my first language..""""
  • #252,425
  • Sep 12, 2010 4:05am Sep 12, 2010 4:05am
Quoting trending
nAVIN I do not trade long term and is quite fascinated with the way you trade. However, I do have a question, at what point do you PLAN to close your trades regardless of win or loss? You do have a plan right?
His SL is around the 1.40 mark, so I assume it is when it hits the SL.

http://www.forexfactory.com/showthre...06#post3996106

Saying that, to his credit, his money management allows him to have such large SLs as all those longs with those large SLs account for less than 1% of his account. I can't find the post where he stated the overall risk he had on his trades, but he did state that a while ago.

Personally, I never have more than a 50 pip SL and usually it is around 20-40 and I swing trade of the h4. If the market tells me I got it wrong, I will accept gracefully and admit I got it wrong, even though I don't like being wrong, I have learned that you are better off to accept that you were wrong, but that is just me and everyone is different.

Saying that I have had a couple of day trades last week working of h1 and m15. I recently managed to find a consultant in the office who had a dedicated DSL line he needs for his work and with a bit of sweet talking, I got them to setup a hidden wireless network in order for me to bypass the corporate firewall. I don't know how long it will last, but when there is a will, there is a way!

Enough of me today. See you all soon.
  • #252,426
  • Sep 12, 2010 4:10am Sep 12, 2010 4:10am
Quoting Xxavier
"""""This is a question for you and other experienced traders here...
As i said i have been trading over an year now and quite successful at it...I am an engineer by education and I am in my mid 20's... I make around 2-3k on an average every month (on a 20k capital). . But I am finding Forex required heck a lot of discipline, loads of screen time every day (I am a short term player) and loaaads of patience, waaay more than any other job that i know... I know I can make the same amount of money, likely way more, working as an engineer somewhere....
I am not experience enough to answer that question, but you will eventually get answered. Patience is a virtue... it is the weekend after all and most sensible people are enjoying time away from markets. Sounds like you are on the right path. Why do I want to trade Forex... because I would like to be my own boss again sometime in the future and have more quality time. Trading shouldn't be stressful... you only make it as stressful as you want it to be... Emotions should be left behind when trading as it is not conducive to good trading.
  • #252,427
  • Sep 12, 2010 4:23am Sep 12, 2010 4:23am
Quoting bbakker
I am not experience enough to answer that question, but you will eventually get answered. Patience is a virtue... it is the trading as it is not conducive to good trading.
Thanks for the response. The reason I started to question why I trade Forex is all the stress and the amount of energy i have to put in to make what I am making. I do not mind working for anyone if the job is less stressful and pay me better than what I get from Forex..

I would love to learn why other people in here trade Forex. My read is, there are quite a few here trading with small capital like me, so I assume the return should be low as mine (sorry if i made the wrong assumption).

Are they doing it because Its less stressful? Making more money than regular job? want to be your own boss? is this a part time for them?...
  • #252,428
  • Sep 12, 2010 4:35am Sep 12, 2010 4:35am
  •  IbkA
  • | Joined Nov 2009 | Status: 'Hope' + 'Greed' = GAMBLING... | 514 Posts
We've all been banned from Nene's thread now , nice one Jim, for asking the same question.

I still want to know why a chap of 11 years' experience with Fidelity, and 20 years FX experience, would be delivering donuts to pay 'his sick son's medical bills', rather than working with Fidelity or Goldman's still to pay the same bills (I think he'd sure make a lot more money with Fidelity to pay those bills than he makes delivering donuts). And let's say he gave up his job so he could be with his son, then how come, having traded for 20 years', he's still not making enough money to stop him delivering donuts.

The fact is I've been watching Nene for a year, hence my head to head confrontation with him in April/May; and 'his sick son' story has mainly cropped up whenever he's been challenged on a call.

Whatever the case, as a newbie, don't buy his system, or any system; learn this stuff for yourself, trade your own charts, and just use the forums as guidance to clarify your own views, rather than let this determine your trades.

I'll tell you now, Nene is a 'convincing' phoney, but after a while, you do start wondering what it is about this chap that just doesn't ring true, and I now know what it is, i.e. everything!

Good luck to you all.

i




Quoting Magix
I been a member and follower here for a while now...so far, this is the best post yet!

http://www.forexfactory.com/showthre...78#post4015778

That's good b...
  • #252,429
  • Sep 12, 2010 5:24am Sep 12, 2010 5:24am
Quoting bbakker

I am rambling on bit now and I have many things to do. Temps, please shoot me before I hit the 3000 posts mark
Keep posting Bbakker, truth is if there wasnt posts from you and others in this forum it would just die, I enjoy killing time browsing this thread, although I dont have as much input as I should and will try to contribute a little bit more in the future, Thanks for v and keep up the good work...
  • #252,430
  • Sep 12, 2010 5:35am Sep 12, 2010 5:35am
Quoting trending
nAVIN I do not trade long term and is quite fascinated with the way you trade. However, I do have a question, at what point do you PLAN to close your trades regardless of win or loss? You do have a plan right?

ofcourse i do.i will exit plan at a break of the weekly low with a confirmation of the dailly but so far plan is still on track..nothing to worry about so far..good traders will know what i mean..

trading is about patience and confirmations i have plenty of both..good luck for next week
  • #252,431
  • Sep 12, 2010 6:24am Sep 12, 2010 6:24am
Quoting nAVIN2007
ofcourse i do.i will exit plan at a break of the weekly low with a confirmation of the dailly but so far plan is still on track..nothing to worry about so far..good traders will know what i mean..

trading is about patience and confirmations i have plenty of both..good luck for next week
Well that make sense. The bull flag is taking shape. The only concern is how far down it will go. Even if it goes down a bear flag is usually necessary before a confirmed drop can occur.

That's the good thing about long term trading, patterns are usually predictable. Too bad I couldn't sleep with an open trade.
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  • #252,432
  • Sep 12, 2010 6:52am Sep 12, 2010 6:52am
hello,everyone .it is my analysis about gu's s&r.i am not sure ,is there anything wrong with my lines.thank you
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A chart helps those who can read it.
  • #252,433
  • Sep 12, 2010 7:17am Sep 12, 2010 7:17am
Quoting trending
Well that make sense. The bull flag is taking shape. The only concern is how far down it will go. Even if it goes down a bear flag is usually necessary before a confirmed drop can occur.

That's the good thing about long term trading, patterns are usually predictable. Too bad I couldn't sleep with an open trade.
As long as we could manage the MM, we could sleep well my friend ....
not euphoria follower
  • #252,434
  • Sep 12, 2010 7:58am Sep 12, 2010 7:58am
Quoting trending
Well that make sense. The bull flag is taking shape. The only concern is how far down it will go. Even if it goes down a bear flag is usually necessary before a confirmed drop can occur.

That's the good thing about long term trading, patterns are usually predictable. Too bad I couldn't sleep with an open trade.
trading requires patience and no emotion..longer term develops u so u feel nothing..stress free..its the folks that have no clue that will get caught here..and that the nature of the best..to any1 who knows this is text book movements..thats why i love it when magix open his mouth..the market will put a boot in it for me

however i have much respect for him..he know we just playing
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  • #252,435
  • Sep 12, 2010 8:25am Sep 12, 2010 8:25am
Quoting nAVIN2007
ofcourse i do.i will exit plan at a break of the weekly low with a confirmation of the dailly but so far plan is still on track..nothing to worry about so far..good traders will know what i mean..

trading is about patience and confirmations i have plenty of both..good luck for next week
Almost same view, moved my point of tolerance to 1.5280 which comes nasty near.
Although I still expect a major turn upwards in higher TF's (D1 and above) I must confess that short term PA over the last week makes my a little worried.
Lets hope 38% will hold and catapult us out of this nasty region....
Don't be a hero. Don't have an ego. Always question yourself
  • #252,436
  • Sep 12, 2010 8:38am Sep 12, 2010 8:38am
Daily view - Selling rallies until the 1,5120-60 area.
For the moment it's a clean downside mode

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COT: The precious data ignored
  • #252,437
  • Edited 8:52am Sep 12, 2010 8:50am | Edited 8:52am
Quoting Magix
Aight...so, lemme get this straight...

You bought absolute bottom of the chart....+30ish...different brokers, might be a little different on the exact numbers, but bottom of this broker shows price of 1.4227.

Okay...

So, now lets look at the top of the chart.

Assuming that you are the #1 nutter for bottom scores....I have a current top at approx 1.5994, and a current market close price of 1.5355...

Hrmmmmmmmmmmm....

You captured absolute bottom by a miss of 30 pips, but missed taking an exit by about 640....is this what you are trying...
Listen Magix, I am not at FF to discuss trading, have no appetite for indepth "analysis" of OP-Posts because it does not do anything for me. I am here just to find "company and friends" - I have found some...

You are a genius at taking parts of different threads, weaving them together and pontificating on them. For example, my remarks about Nav's Post was more in appreciation of the Link he posted from PawPaw which is an article on Poverty - very very touching indeed - and my remarks about what it takes to make money in FX is what I feels is the truth - difficult at any time - can be mastered but not by all. Both are unconnected to trading.

I do not have the patience to post charts etc so do not post trades which are not very frequent. So, when I found a Post was expected to be accompanied by Charts, I decided not to post at all since I would not have the patience to "explain" anything - I could not be bothered less.

You wanted to know "how my trading made me happy", so wrote that in last Post. Would a trade like that make you happy ? It is enough for me. Now you bring it up again. Sorry - I have no inention to read this (present) post of yours - nor will I reply to it. I do not scrutinize your trades. I shall thank you to stop scrutinizing mine. I neither have the time nor the appetite for "skirmishes".

You are not young and I respect you for that. You have travelled to the East and you found out where "Peace" springs from. Let us keep it at that otherwise I will have to take recourse to "anti-nuke defensive umbrellas".

You should be happy helping the newbies - see my comments on this in earlier posts - I do not seek anything for trading in your or any other traders' posts. I am not interested in making followers - only friends: Albert Camus, " ...Walk beside me and be my Friend".

So, let us leave each other in Peace.
  • #252,438
  • Sep 12, 2010 8:54am Sep 12, 2010 8:54am
Quoting kuroro001
Daily view - Selling rallies until the 1,5120-60 area.
For the moment it's a clean downside mode

Attachment

I am with you on that. We had a bit of bad news re Hypo (another 40Bn) late on friday and I expect fibre to open with a significant gap down (40-60 pips) and not really stop there. China showing larger then estimated growth and there is rumours of a rate hike which will initially only cause a flight to risk aversion. We have had quite a bit of unscheduled fundie news last week re EU, so far just more holes in the cheese that could line up one of these days and give us what Wormy calls a nice "kaboom". Could Cable move inversely correlated to fibre once all the holes line up? Of course it can, and it has done so before, however the sellof in fibre, once it does happen, would only trigger more risk aversion and drag Cable with it.

Starting Monday we should finally see some normal volumes in the equity market and Mon-Tue should set the trend for the week. I am not putting any money (yet) on a Cable recovery next week. I want to see how the euro fares first.

So I am with kuro and will be looking to sell the rallies in the intermediate time here.
  • #252,439
  • Sep 12, 2010 8:54am Sep 12, 2010 8:54am
Quoting kuroro001
Daily view - Selling rallies until the 1,5120-60 area.
For the moment it's a clean downside mode

Attachment
I'm with you got it at 15140 ish.....
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  • #252,440
  • Sep 12, 2010 9:06am Sep 12, 2010 9:06am
Quoting nAVIN2007
i posted this 4hr chart for a reason..the trendline were good..but i dont trade of the 4hr so it means nothing...anyway the empty vessels have made huge sound..lets see how she plays out..

magix (ace) mouth will be closed for good after this:- he will realise himself he has plenty to learn.

I take pride in the fact that he is following my post with such detail

Hi Nav, I can't understand his obsession with posts of others - I have just refused to read his unwelcome attention to my post - fellowship in Forums does not mean having to reply to every.......... .

Morning commented on your post - he came down with ............

His horizon is Ultra-short - does not suit all - wish more people would tell him that and why do I have to explain what I did after this and this ......?

Anyway, how is trading going ? Your interest in PawPaw sent link is "pregnant" - wish something good will come out !
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