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I am somewhat disappointed

  • #1
  • First Post: Mar 28, 2006 2:47pm Mar 28, 2006 2:47pm
I know this is bad to say and most likely I am being greedy and maybe ungrateful. I am disappointed that the fall in value of the GBP was not that big as I would have hoped. I went short at 1.7527 and closed my trade at 1.7438. I was hoping for atleast 150 pip day. I don't mean to sound ungrateful for the pips I was blessed to receive. I know this sounds bad but I wanted more. More like another 70 pips. That would have made me feel really good. Not that I don't feel good about the wonderful pips I was blessed to receive I JUST WANT MORE!!!!!


Thanks for listening
Fdisk Please I just want a few pips. Is that too much to ask?
  • #2
  • Mar 28, 2006 2:59pm Mar 28, 2006 2:59pm
We've all been through these emotions, especially when we are really hoping for or expecting something to happen, and it doesn't.

I recommend investigating purely reactive types of strategies. These are all the rage in my forum community now. You can e-mail me if you want to know more.
Bob/autofx
  • #3
  • Mar 28, 2006 3:11pm Mar 28, 2006 3:11pm
Quoting fdisk
I know this is bad to say and most likely I am being greedy and maybe ungrateful. I am disappointed that the fall in value of the GBP was not that big as I would have hoped. I went short at 1.7527 and closed my trade at 1.7438. I was hoping for atleast 150 pip day. I don't mean to sound ungrateful for the pips I was blessed to receive. I know this sounds bad but I wanted more. More like another 70 pips. That would have made me feel really good. Not that I don't feel good about the wonderful pips I was blessed to receive I JUST WANT MORE!!!!!


Thanks for listening
Have a look @ GBP/JPY it might help you understand the GBP Support.
  • #4
  • Mar 28, 2006 3:22pm Mar 28, 2006 3:22pm
Quoting Bemac
Have a look @ GBP/JPY it might help you understand the GBP Support.


I am not sure how the GBP/JPY corrolates to the GPB/USD. But I'll take a look? Thanks
Fdisk Please I just want a few pips. Is that too much to ask?
  • #5
  • Mar 28, 2006 3:43pm Mar 28, 2006 3:43pm
Quoting fdisk
I am not sure how the GBP/JPY corrolates to the GPB/USD. But I'll take a look? Thanks
It wasn't Weakness in the GBP that caused the slide. It was Strength in the USD but the GBP also had Strength elsewhere somewhat curtailing the fall.
  • #6
  • Mar 28, 2006 3:45pm Mar 28, 2006 3:45pm
Quoting Bemac
Have a look @ GBP/JPY it might help you understand the GBP Support.
Hi Bemac, I trade GBP/JPY ,,, gotta love the action, it doesnt seem to matter how its traded it usually works out well if you have patience to let it breath .... I also find some schooling in BWILC helps...

I dont trade GBP/US but am intrigued by your comment .. what do you mean??...

thks
Rocket
  • #7
  • Mar 28, 2006 3:49pm Mar 28, 2006 3:49pm
Quoting Rocket
Hi Bemac, I trade GBP/JPY ,,, gotta love the action, it doesnt seem to matter how its traded it usually works out well if you have patience to let it breath .... I also find some schooling in BWILC helps...

I dont trade GBP/US but am intrigued by your comment .. what do you mean??...

thks
Rocket
USD gained on the euphoric poss. of even more rate hikes meanwhile the GBP Bulls were pushing for the following

GMT
[18:31 GBP/JPY TECHS: Working an Outside Day Bullish Reversal] New York, March 28. Today"s price action has engulfed Monday"s 203.40-205.00 range with its own range of 203.20-205.30 thus far. If prices managed to close above yesterday"s highs that would be a bullish event in a market that has been sorely lacking defining trend events on the daily charts. As noted this morning, GBP/JPY prices found support at the lower Bollinger band with today"s lows and those bands have narrowed to just 300 pips, the narrowest they have been since October 17. Prices rallied almost 800 points after that into November 4. Moreover, ADX readings are at their lowest since November 29 and prices rallied from 205.10 that day to 213.05 on December 13, also roughly an 800 pt move. Of course both the Bolli diffs and the ADX had begun to finally rebound at those points, something they have not begun to do currently, but it is reasonable to expect a rebound imminently. This does not ensure an 800 pt rally or even that the breakout will be to the upside, but the longer term trend is higher and we have a pending bullish engulfing pattern with yesterday and today"s price action, so again it is reasonable to lean in that direction. Those looking for better verification of an upward breakout should consider a daily close above the March 13 high of 206.20 as solid place to start. On the downside, in case today"s rally is just another feint, a daily close below the 200-day MA line, now at 202.65 is the first key step, followed by breaks of major swing lows at 201.70 and 200.60.
  • #8
  • Mar 28, 2006 4:01pm Mar 28, 2006 4:01pm
Quoting Bemac
USD gained on the euphoric poss. of even more rate hikes meanwhile the GBP Bulls were pushing for the following

GMT
[18:31 GBP/JPY TECHS: Working an Outside Day Bullish Reversal] New York, March 28. Today"s price action has engulfed Monday"s 203.40-205.00 range with its own range of 203.20-205.30 thus far. If prices managed to close above yesterday"s highs that would be a bullish event in a market that has been sorely lacking defining trend events on the daily charts. As noted this morning, GBP/JPY prices found support at the lower Bollinger band with today"s lows and those bands have narrowed to just 300 pips, the narrowest they have been since October 17. Prices rallied almost 800 points after that into November 4. Moreover, ADX readings are at their lowest since November 29 and prices rallied from 205.10 that day to 213.05 on December 13, also roughly an 800 pt move. Of course both the Bolli diffs and the ADX had begun to finally rebound at those points, something they have not begun to do currently, but it is reasonable to expect a rebound imminently. This does not ensure an 800 pt rally or even that the breakout will be to the upside, but the longer term trend is higher and we have a pending bullish engulfing pattern with yesterday and today"s price action, so again it is reasonable to lean in that direction. Those looking for better verification of an upward breakout should consider a daily close above the March 13 high of 206.20 as solid place to start. On the downside, in case today"s rally is just another feint, a daily close below the 200-day MA line, now at 202.65 is the first key step, followed by breaks of major swing lows at 201.70 and 200.60.

sry man, you got me scratching my head ... I trade GBY/JPY based on range ... purely price action ... your article seems to suggest something but I dont see it....
  • #9
  • Mar 28, 2006 4:05pm Mar 28, 2006 4:05pm
Quoting Rocket
sry man, you got me scratching my head ... I trade GBY/JPY based on range ... purely price action ... your article seems to suggest something but I dont see it....

JUst to clarify .. I am short GBY/JPY from 205.56, and if it ratchets up a 100 pips I will likely ride it till ratches back down again .... but that is lookling at medium and range,
  • #10
  • Mar 28, 2006 4:07pm Mar 28, 2006 4:07pm
a) my aunt bessie knew the hike was baked in the cake, so for sure it was priced in.

b) it doesn't matter, the whole point is not about trading the news, it is about taking as much money as possible for the time you are willing to spend on trading. You can make a 300 pip move on some pair in this week if you just play your cards right. It happens all the time.

c) I really don't know too much about anything so correct me if im wrong.
I keep a close watch on this chart of mine...
  • #11
  • Mar 28, 2006 4:28pm Mar 28, 2006 4:28pm
Quoting fdisk
I know this is bad to say and most likely I am being greedy and maybe ungrateful. I am disappointed that the fall in value of the GBP was not that big as I would have hoped. I went short at 1.7527 and closed my trade at 1.7438. I was hoping for atleast 150 pip day. I don't mean to sound ungrateful for the pips I was blessed to receive. I know this sounds bad but I wanted more. More like another 70 pips. That would have made me feel really good. Not that I don't feel good about the wonderful pips I was blessed to receive I JUST WANT MORE!!!!!


Thanks for listening
I've got 400 pips on gold .
Try hard, think fast, die young
  • #12
  • Mar 28, 2006 5:10pm Mar 28, 2006 5:10pm
Quoting dof
I've got 400 pips on gold .
so please explain your platform and strategy ..!!..
  • #13
  • Mar 28, 2006 5:20pm Mar 28, 2006 5:20pm
I was hesitant on trading today (beginning the 27th at about 3pm Pacific after NY close into the 28th) due to the FOMC meeting. I was looking at the GBP-USD and EUR-USD pairs and a nice BoxPlay showed up on the GBP which i took for just shy of 40pips. I was actually happy for the 28th's trade day at that point but told myself i'd watch to see if there was a setup after the FOMC announcemnet.

On a 5m chart i had the AbFibo's, 144tunnel in the background, overlaid on that i've got James16's Base 150 set at 144 to match the tunnel...There was a text book set up on the 5m and was able to ride it down until it flattened out for another 40ish pips in demo. Both currencies stalled within a pips of the support shown on the charts that was anticipated. Since i still consider my self a short term day trader, and enjoy closing my trades before day's end, today was a nice trading day with about 80 pips total.

...so for myself? There was no disssapointment...but them i'm playing the turtle and not the hare.

:-)
  • #14
  • Mar 28, 2006 5:48pm Mar 28, 2006 5:48pm
Quoting Rocket
so please explain your platform and strategy ..!!..
That was based on news....
Try hard, think fast, die young
  • #15
  • Mar 28, 2006 8:30pm Mar 28, 2006 8:30pm
I think the situation always happens. To earn is better than to lose, though it is maybe only 1 pips.
  • #16
  • Last Post: Mar 28, 2006 9:45pm Mar 28, 2006 9:45pm
Quoting sunandtree
I think the situation always happens. To earn is better than to lose, though it is maybe only 1 pips.
This is so true.
Fdisk Please I just want a few pips. Is that too much to ask?
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