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Cable Update (GBPUSD)

  • #296,541
  • Jan 3, 2012 3:39pm Jan 3, 2012 3:39pm
Quoting zarach
i set the second sell position around 14.35 gmt+7 sir

as the price broke 1.5590 i put long position to minimize the loss sir, and as the price bounce back to 1.5570 i close all my short position sir
i'm still learning sir thanks for your correction i must try to fix that habit really soon
and i hedge
That explains the 'just 40 pips loss' then as you didn't stipulate that you hedged your postions in your earlier post. It gets very confusing and believe me, I do not check every trader who posts on FF whether they have the numbers right or wrong. I just saw your post from this morning and when I checked the thread again, there you were posting about your 40 pips loss, and we had moved a 100 pips or so... I had to check it out!
  • #296,542
  • Jan 3, 2012 3:45pm Jan 3, 2012 3:45pm
Quoting nostradamus7
long cable at 1.5492 stoploss is 1.5400 target in 2 days from now
How high cable'l go tomorrow i cant tell but its definitely heading north. target should be when european trading ends tomorrow
  • #296,543
  • Jan 3, 2012 3:51pm Jan 3, 2012 3:51pm
Quoting bbakker
That explains the 'just 40 pips loss' then as you didn't stipulate that you hedged your postions in your earlier post. It gets very confusing and believe me, I do not check every trader who posts on FF whether they have the numbers right or wrong. I just saw your post from this morning and when I checked the thread again, there you were posting about your 40 pips loss, and we had moved a 100 pips or so... I had to check it out!
please forgive me sir,next time i wouldn't do it again, i'll post more clearly, i'm really sorry

Quoting nAVIN2007
way to fix this ..face up to why u are entering market and not willing to take a loss hence the hedge..solution my friend go in smaller build consistency, keep/get confident, turn a corner..and make corn

then increase
lesson from today i take position blindly because of the price reached monthly buyer seller balance indicator, about the loss this is my biggest weakness i always hope price will retrace to my initial position so it can be breakeven but unfortunately it never happen, i know my weakness but still i can't overcome it.
thanks for your advice sir i will keep that in mind
  • #296,544
  • Jan 3, 2012 3:57pm Jan 3, 2012 3:57pm
Quoting GDR3k
Currently short @ 1.56555, SL is at break even, currently around 6+ pips, cheeky one. TP is at 1.5605 however may move to 5621.

Fall baby. Plenty of sellers at this area.
Quoting bbakker
I know there was a big drop from here just after Xmas and I expect price to react to it, but this zone was created during low liquidity, so are there really plenty of sellers here?
Time is ticking away and yet it hasn't fallen by more than 25 pips off the highs. Where are the sellers? I can see why you thought there would be sellers waiting here, as in EU, but so far none have really materialised and price has not been rejected here, but instead price is now basing here.

Now question why is this zone not working as expected? Saying that, it could still drop from here, but I am more inclined to think that GU will go further up after a retrace back to 1.5622.

Just getting you to think... that's all!
  • #296,545
  • Jan 3, 2012 3:59pm Jan 3, 2012 3:59pm
Quoting bbakker
PT,

What is this business of wanting a trading contest with every Tom, Dick or Harry that wanders in here to find out who is real and who is fake!

I am as real as they come, but I have no need to compare myself to anyone else. I couldn't give a flying fook how anyone else trades or how successful or unsuccessful they are. It is of no interest to me. What is important to me is me, my trading results and how I stack up against the market. Anything else is of no importance.

To turn my trading into a competition with someone else's trading...
well look like some was calling me a BS, i know i should just ignore them, but what better place to show who's real and who's really a BS
  • #296,546
  • Jan 3, 2012 3:59pm Jan 3, 2012 3:59pm
Quoting zarach
please forgive me sir,next time i wouldn't do it again, i'll post more clearly, i'm really sorry



lesson from today i take position blindly because of the price reached monthly buyer seller balance indicator, about the loss this is my biggest weakness i always hope price will retrace to my initial position so it can be breakeven but unfortunately it never happen, i know my weakness but still i can't overcome it.
thanks for your advice sir i will keep that in mind

most of the time when someone says what u have said it comes down to knowledge..u need to learn more about the market.

I always tell my brother (younger):- knowledge is relative to what u dont know..once u learn more..yur execution will be better and u will find this happens less..

u need to find answers for your weakness in trading otherwise u wont ever make money from it!!..be lucky my friend
  • #296,547
  • Jan 3, 2012 4:01pm Jan 3, 2012 4:01pm
my long looks like going good.
unbelievable!

im risking 5.5 pips for a 90 pips target.
90% of traders use TA, indicators and prediction
  • #296,548
  • Jan 3, 2012 4:03pm Jan 3, 2012 4:03pm
Quoting zarach
please forgive me sir,next time i wouldn't do it again, i'll post more clearly, i'm really sorry



lesson from today i take position blindly because of the price reached monthly buyer seller balance indicator, about the loss this is my biggest weakness i always hope price will retrace to my initial position so it can be breakeven but unfortunately it never happen, i know my weakness but still i can't overcome it.
thanks for your advice sir i will keep that in mind
No need for apologies, as you have already explained. It is not my problem if you do not post all the relevant information. I only spotted it through pure chance.

You really are at the beginning of the trading road with a very long way ahead of you. My advice is to throw away all the indicators and just look at one single indicator that tells you exactly what is going on. That indicator is called price.

You will find plenty of threads on FF that discuss price action trading.

Good luck!
  • #296,549
  • Jan 3, 2012 4:07pm Jan 3, 2012 4:07pm
Quoting _BBKing_
my long looks like going good.
unbelievable!

im risking 5.5 pips for a 90 pips target.
just be very careful as this is the place where we going down last time after consolidation, remember?

i think this area will be a short term resistance.. imho.
  • #296,550
  • Jan 3, 2012 4:08pm Jan 3, 2012 4:08pm
Quoting zarach
i set the second sell position around 14.35 gmt+7 sir
Thanks. Just before the London open, then? May I suggest that your strategy looks carefully at the London open in relation to the price at 00:01am GMT, ie 8 hours before the London open? If you were to study this in conjunction with the range (ie Asia) between these times I think you might not have chosen a short. Just a suggestion.
Gone to a better place
  • #296,551
  • Jan 3, 2012 4:10pm Jan 3, 2012 4:10pm
Quoting PoundTrader
well look like some was calling me a BS, i know i should just ignore them, but what better place to show who's real and who's really a BS
Not I. Please correct me if I am wrong, but I have not posted anything about you or your trading at all in here or anywhere else for that matter. Please enlighten me as to where I was calling you a BS. Thanks!
  • #296,552
  • Jan 3, 2012 4:18pm Jan 3, 2012 4:18pm
Hi Pound, Sent you a PM
  • #296,553
  • Jan 3, 2012 4:23pm Jan 3, 2012 4:23pm
Quoting A-speculator
just be very careful as this is the place where we going down last time after consolidation, remember?

i think this area will be a short term resistance.. imho.
yes i know very well!
anyway i took it long simply because faster TF not yet ready to go down.
stop loss is 5pips far from my entry so nearly no risk, don't worry!

if im right, we see price near 1.57. it is not reversing in this area. possible no strong supply!
90% of traders use TA, indicators and prediction
  • #296,554
  • Jan 3, 2012 4:32pm Jan 3, 2012 4:32pm
Quoting PoundTrader
i expect to see your answer when i get back, .
Do you? How arrogant. I guess you finished your burger by now.

Post a chart and I might consider it. King of the trolls is not welcome here.

We're all waiting for something useful from you, apart from the MM spreadsheet you posted twice. I'll give you a chance, OK?
Gone to a better place
  • #296,555
  • Jan 3, 2012 4:44pm Jan 3, 2012 4:44pm
I do not know if I am wrong or I saw someone with a target 5490
  • #296,556
  • Jan 3, 2012 4:46pm Jan 3, 2012 4:46pm
Quoting chess king
I do not know if I am wrong or I saw someone with a target 5490
I dunno, EUROPE seems solid lately.. No banks defaulting or anything, Its Happy Happy Joy Joy time.
  • #296,557
  • Jan 3, 2012 4:49pm Jan 3, 2012 4:49pm
Quoting Pooks
I dunno, EUROPE seems solid lately.. No banks defaulting or anything, Its Happy Happy Joy Joy time.
Christmas time.
  • #296,558
  • Jan 3, 2012 4:59pm Jan 3, 2012 4:59pm
Quoting Pooks
I dunno, EUROPE seems solid lately.. No banks defaulting or anything, Its Happy Happy Joy Joy time.
European banks aren't defaulting because they have been given unlimited credit by the ECB. The focus is not on the banks defaulting but countries defaulting and then the banks will start defaulting with their over-leveraged exposure to the debt.

It could be years before countries start to default, although Greece have had a 50% write-down of their debt, maybe others will start negotiating too?

Markets are still drunk on the New Year's Eve champagne... give it a couple of days and once Friday's NFP has come and gone, reality might set in next week when the headache kicks in and the big boys come back out to play.
  • #296,559
  • Jan 3, 2012 5:00pm Jan 3, 2012 5:00pm
drawing a FE off those daily closing (because i dont believe a lot on that move to 5350 around xmas) appears a nice 5627 FE 100 and 5750 FE161.8

switching in h1 chart, actually that 5627 is where price found good rejection (some 60 pips)

DP seen there near.

if my position is fukking wrong (very probable!), looks like that 5627 will provide some good problems on shorts.

lets see then
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gu.gif Size: 18 KB
Click to Enlarge Name: gu2.gif Size: 16 KB
90% of traders use TA, indicators and prediction
  • #296,560
  • Jan 3, 2012 5:05pm Jan 3, 2012 5:05pm
Quoting _BBKing_
drawing a FE off those daily closing (because i dont believe a lot on that move to 5350 around xmas) appears a nice 5627 FE 100 and 5750 FE161.8

switching in h1 chart, actually that 5627 is where price found good rejection (some 60 pips)

DP seen there near.

if my position is fukking wrong (very probable!), looks like that 5627 will provide some good problems on shorts.

lets see then
Quoting bbakker
...

Now question why is this zone not working as expected? Saying that, it could still drop from here, but I am more inclined to think that GU will go further up after a retrace back to 1.5622.

...
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