Cable Update (GBPUSD)

thx, already found the indi. Its just not clear to me how Magix reduces the buy & sell bands ? Now they are all over the chart.
Have a nice weekend

Hi Guys,

I have been trading for 3 years now and do not spend much time in here anymore.
Why? Because live traders move on, I am not saying other traders do not try and pass on some knowledge what they have learnt along the way. It’s when I see other guys saying, that need a chart full of indicators and lines going this way and that I just shake my head. I realise how far I have come to where you guys are now. Do I lose trades? Yes.. Do I have more winning trades that losses? Yes .. That’s what trading is all about.
If you think you have to buy everything that the market throws at you, you are wrong.

One thing I have leant along the way is most marketers out there try to make out Forex as a hard place to make money if you don’t have there latest EA or Indicators. Very cleaver marketing has remove dollars from all out pockets, including mine.

Bar charts, triangles, hammers are just a few things to try and confuse you, sorry if that goes against the grain of some you smart traders. You really don’t need to know all this rubbish. I do feel that the less you have on your chart, will make you a better trader. I do not use an EA only manual trade.
Are there any good EA out there? May be.. but I have not found a real one yet. They may start of good, but crash on you burning up your balance.

When trading I use a demo and live account. The demo account is where I may add or take away something I am trying out. Only when it is working on the demo account can it be added to live account. As I am a trend trader I only need 1 or 2 indicators on my chart, that all. I need to know the direction of the trend and need it confirmed by my second indicator as you can see on the first chart. Now if you cannot see big dollars to be made on this chart, by following the arrows, time to look for a new way of making money. On the second chart you see support and resistance lines. You could trade just using this indicator by itself, but that will take a little practice.

I also trade news releases on a 1 or 5 min chart, a great place to scalp pips.

Smokey22

lol can we trade and post do we have to stay 24h smocking the pipe to trade dam all the ppl post here are in demo and we dont trade forex we smoke the pipe any way so what lets get high in real acc.s and enjoy posting and make some cans

Thanks for your time and trying to add a little to the house...

Let's address a couple things here...

First off, where have all of the traders gone....

Well, some stay, because they can, some move on because they want to, but the market statistics say that 90% will just run out of money. The folk that choose to hang their hats here, do it for their own specific reasons, and really, is this something that need be judged by you?

Secondly.
It would seem that you are posting a system of sorts, using your 3 indicators, but on a demo chart, that posts paper profits and on a chart that you don't seem to have taken a trade on...

Hrmmmmm...

I think you miss the point of the factory here my friend. A lot of us are live traders, some new, some old, some micro to mini, some in standards, and yes, a lot of new traders we all encourage to learn to trade on a demo before they go live.

Along with several different views of market, comes several different trade styles. They offer movement from different time frames and using different indicators. We choose to share in the knowledge that we have and try to make an effort to post reasonable market forecasts...

Well, okay, not everybody, but there are a great many of us that do just this.

It's kind of amusing how in the 15 posts you have, there are several variations, and yet, the only charts that you have posted with gains are demo accounts...

Well, I guess we are all entitled to our opinions, yours just seems to be one that will get lost in the shuffle of other bullshit that gets posted here.

Gotta love this place.

Your stealth, I will call a moving average cross, the other currently posted seems to be kg support and resistance....Going to attach these to the bottom of the chart and give other members a chance to givem a whirl. Stealth is shown on one of your other posts, I can't be bothered to compare.

Trade well dude. When you hit a zillion demo dollars, I hope you have yet another variation and come back to tell us why you haven't posted in a long time again, as well as what "Real Traders", do again.

hey wise man how are u

take it easy on the guy for 3 years and still using demo give him a break still he did not taste the pipe

dolly i did make some changes but still working on the darn thing have to dig for my indis diid format the whole shoot 7 of them did save on all of them still digging ,

green week bro enjoy

now i seen it all...a demo trader without a stop loss bragging
what has happened to ff lately damn

demo trading without a SL is just about the worse way u can forward test any stragedy

The FOMC meeting is the highlight of a busy week, with US figures dominating the scene: home sales, durable goods orders and building permits. Here’s an outlook for the major events in the upcoming week.

Japanese are on holiday on Monday and on Thursday, yet the BOJ will probably follow up on the big intervention to weaken the yen. It will also be interesting to see how the Irish debt issues wind up in the upcoming week.

1. US Housing figures: Published Tuesday, 12:30. The housing sector is critical to the US economy. Building permits remained stable at an annual rate of 560K last month – failing to rise. The same level is expected now. Housing starts, which are the next stage after permits, also stalled at 550K and will probably remain unchanged now.
2. US rate decision: Tuesday, 18:15. The Federal Reserve is unlikely to be as dramatic as the previous one. Ben Bernanke will probably continue the pledge to support the economic recovery by committing again to keeping the interest rates at a low level for an extended period of time. In addition, the bond buying scheme will probably continue at the same scale.Given the recent better-than-expected NFP, there’s a low chance of seeing more extreme measures such as raising inflation targets, an idea that Bernanke raised in Jackson Hole but took off the table quickly.
3. British Inflation Report Hearings: On Wednesday, delayed from last week. After British inflation remained above the target but the employment situation got worse, Mervyn King is in a dilemma. This will be reflected in his appearance in parliament, where the governor of the BoE will speak not only of inflation, but also about the general situation. Given his previous appearances, the Pound is likely to shake during the hearings.
4. New Zealand GDP: Wednesday, 22:45. New Zealand enjoyed a full year of economic growth. This is likely to be seen in Q2 as well, but the scale of growth will probably be more modest than Q1′s 0.6% rise. With a higher unemployment rate and a higher interest rate, a weaker growth rate of 0.5% will probably be seen, weakening the kiwi.
5. US Unemployment Claims: Thursday, 12:30. This weekly release always rocks the markets. Jobless claims are already off the alarming peak recorded in mid-August, yet only a drop under 430K will provided significant evidence of improvement. The current level of 450K will probably remain unchanged.
6. Existing Home Sales: Thursday, 14:00. This all-important figure was a bitter disappointment last month, with a 27% drop from the previous month. The housing sector is extremely dependent on government aid and still cannot grow alone. Sales of existing homes will probably bounce off the low annual level of 3.83 million and reach 4.11 million.
7. German Ifo Business Climate: Friday, 8:00. This wide survey of 7,000 business usually exceeds expectations and shows optimism, contrary to the ZEW survey which turned negative last week. The Ifo survey will probably remain unchanged at 106.7 it reached last week.
8. US Durable Goods Orders: Friday, 12:30. Orders of durable goods rose by 0.4% last month, but this was only due to a one time event. Core durable goods orders, which are more closely watched by economists, plunged by 3.7% and hurt the dollar. Orders will probably drop this time, while the core figure will recover.
9. US New Home Sales: Friday, 14:00. Similar to existing home sales, also this indicator was disastrous last month, plummeting from 315K to 276K, very low levels. Sales of new homes are small in comparison to existing homes. Nevertheless, the timing of the release, just before markets close, will probably create lots of action.

That’s it for the major events this week. Stay tuned for coverages on specific currencies, including technical analysis.

by Yohay Elam

I thought id post this..someone might wanna see it!

Here's my mod n tpls for dolly here kill...

Depending on which version you are using, MD is for 11, Md2 is for 13, charts posted respectively.

Adjust GMT for your broker.

Back on topic, when does this thread get moving to talk about G/U? I know its early sunday but I liked to get some thoughts on this upcoming week. I am still learning about the cable.

the wise man is too dam good for us thanks bro u did a great job on the dolly

at an interesting level right now... Definately wait for LO before opening a position!

Any Ideas? I'd say we are going up but will need to see 2moro to know for sure. Dollar took a beating this week and may make a bit of a recovery?

See 2moro...

that was amazing indicator. thank you very much

Yep, guys n gals, another trading week is here. Wish you all a great week with lots of positive pips.
I've set my week rolling with a buy on GBP/USD @ 1.5632, s/l @ 1.5600 and t/p @ 1.5704.
PA decided not to move downwards on Friday as I'd anticipated, but this is trading, price does what it wants. Trade well.

will gap is a gap ride it down if we close it and go below then we are going down if not enjoy the ride the other way after all i think we are going east lets wait and see i might be wrong good luck

For the early birds, a little something to keep in mind....

Hi,
Hope everyone is doing great.

I am looking to sell GU on the retest of the line.

Good luck to all.

too late bro the damage is don a few more green then out, my darn itchy fingers will not let it go

lets see if the %50 holds and we hit the ema200 on m5 enjoy

fiber is sweet too

With whatever ++pips gained since Friday, it is healthier to close positions and wait out of the Mkt.