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Cable Update (GBPUSD)

  • #306,861
  • Apr 8, 2012 6:05pm Apr 8, 2012 6:05pm
Quoting _BBKing_
mmm
IMO is bit more complicated than this!
well yea... its slightly a bit more complicated...

after they decided to short it... they often will call up direct lines to some senior management at a bank to see to it that their trade would do fine...
if managers tell them it is possible to see the level they want.. then the trade happens...

but no charts were needed on the client's side....

Tech traders are very often traders who cannot bear Drawdowns while... big boy/fundie traders... they dont mind drawdowns... like 500 pip or 1000 pip drawdown... simply these guys may have connection to the FED perhaps...
so if a position is starting to threaten a bit too much... see how the FED board of director forced Ben to promote QE3 to save their asses on their Treasury bond investments...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,862
  • Apr 8, 2012 6:05pm Apr 8, 2012 6:05pm
Quoting bguguen
You do realise big traders like Warren Buffet and George Soros dont really read charts and yet they make big money right??

As much as technicals are important for retail traders.. you need to realise big traders like central banks, george soros that sort of people dont really look at chart technicals to trade...

they would just go online one day and see oh GBPUSD at 1.6?? hmmmm this is strange UK economy is not better than the US from what the news are reading...
Right im gona short 500 Standard Lots...

Thats how they trade man...
I know bro, but that's not how I trade. I don't say and will never say fundamentals alone cannot be used by traders, since I don't know enough about fundamentals to say this, I am no authority on fundamental trading. I just totally disagree with your comment that when trading the 1 hr, 4 hr and higher timeframes, that you need fundamentals thats all. I don't use fundies one little bit, the lowest timeframe I trade is the 4 hr and I make money with absolute minimal drawdown so I can use higher lots sizes and make more money with the move. Like I said, I took a technical short at 6027, seems like a better place to short than a fundamental 56 wouldn't you agree
Come with me if you want to live....
  • #306,863
  • Apr 8, 2012 6:07pm Apr 8, 2012 6:07pm
ok i just came to see first moves of the week!
bed time here
good luck, byebye
90% of traders use TA, indicators and prediction
  • #306,864
  • Apr 8, 2012 6:07pm Apr 8, 2012 6:07pm
Quoting bguguen
You do realise big traders like Warren Buffet and George Soros dont really read charts and yet they make big money right??

As much as technicals are important for retail traders.. you need to realise big traders like central banks, george soros that sort of people dont really look at chart technicals to trade...

they would just go online one day and see oh GBPUSD at 1.6?? hmmmm this is strange UK economy is not better than the US from what the news are reading...
Right im gona short 500 Standard Lots...

Thats how they trade man...
Have u read my post on How the stock market works? if you don't read chart you will be just like the villagers (or the monkeys)

they have their own edge, not just by reading news.. same like WD Gann who can time market accurately.. i bet if they're doing like you did, they won't be as rich as they are now..
  • #306,865
  • Apr 8, 2012 6:10pm Apr 8, 2012 6:10pm
Quoting bguguen
well yea... its slightly a bit more complicated...

after they decided to short it... they often will call up direct lines to some senior management at a bank to see to it that their trade would do fine...
if managers tell them it is possible to see the level they want.. then the trade happens...

but no charts were needed on the client's side....

Tech traders are very often traders who cannot bear Drawdowns while... big boy/fundie traders... they dont mind drawdowns... like 500 pip or 1000 pip drawdown... simply these guys may have connection...
yes i agree about the "no charts thing"
maybe orders are not exectude in one solution and are filtered by something out there.... what we call "algos" or something like that.
yes also trading floors etc.. etc.. etc...
IMO big heavy positions are definetly not executed by mt4 xmas trees
90% of traders use TA, indicators and prediction
  • #306,866
  • Apr 8, 2012 6:13pm Apr 8, 2012 6:13pm
Quoting A-speculator
Have u read my post on How the stock market works? if you don't read chart you will be just like the villagers (or the monkeys)

they have their own edge, not just by reading news.. same like WD Gann who can time market accurately.. i bet if they're doing like you did, they won't be as rich as they are now..
i did say they have connections in central banks and stuff to make their trade work right??

i mean who would've known the Peg in EURCHF had to come up at 1.2?? obviously someone big somone swissy (maybe SNB themselves) was long EURCHF and they wanted to see 1.2.... called up the SNB told them some economic fundies to back his theory and voila... plan was made and dealt...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,867
  • Apr 8, 2012 6:16pm Apr 8, 2012 6:16pm
Quoting _BBKing_
yes i agree about the "no charts thing"
maybe orders are not exectude in one solution and are filtered by something out there.... what we call "algos" or something like that.
yes also trading floors etc.. etc.. etc...
IMO big heavy positions are definetly not executed by mt4 xmas trees
Thats what im trying to get through to people here... but im getting heavy arguments from A-Speculator... obviously he's too hooked up on technical trading just because it is the EASIEST to learn while fundamental trading, you need to know how to call a bluff... you need to think like the big boys think and you need to realise some movements are pure stop hunt movements by the big guys whos taking advantage of technical points to play with their stop hunts...

as far as i can explain is that 50 pips up on a quiet sunday night IS a stop hunt.... big movements on heavy holiday IS a stop hunt....
Movements in Asia are MOSTLy stop hunts...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,868
  • Apr 8, 2012 6:19pm Apr 8, 2012 6:19pm
Quoting bguguen
i did say they have connections in central banks and stuff to make their trade work right??

i mean who would've known the Peg in EURCHF had to come up at 1.2?? obviously someone big somone swissy (maybe SNB themselves) was long EURCHF and they wanted to see 1.2.... called up the SNB told them some economic fundies to back his theory and voila... plan was made and dealt...
like i said, they know something sometimes months before, sometimes years before the thing happens.. it's not fundamental or technical.. something more than that.. astrology perhaps? and they can time the thing to happen accurately not by the date only, sometime their prediction is in time of the day that thing will happens.. and they're right up to the seconds...

i got to go.. see u all later..

green pips mate..
  • #306,869
  • Apr 8, 2012 6:21pm Apr 8, 2012 6:21pm
Quoting A-speculator
Have u read my post on How the stock market works? if you don't read chart you will be just like the villagers (or the monkeys)

they have their own edge, not just by reading news.. same like WD Gann who can time market accurately.. i bet if they're doing like you did, they won't be as rich as they are now..
IRONIC... BTW can you explain to me how George Soros made HIS FORTUNE?? this is a guy who totally took advantage of the Pound moving from fixed exchange rate to floating exchange rate...

Right when UK turned to floating exchange rate he knew the Pound would collapse so he managed to place a MASSIVE HUGE SHORT ORDER to short the POUND in ASIA when Asia is open and UK still sleeping...
Once UK awakes, BOOM there goes his Billions of profits...

Now tell me if this is a Technical or Fundamental Move... a 15000 pip drop in the GBPUSd from 3.5 to 2.0 thats got to be a fundamental move no?? AHAHAHHAH
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,870
  • Apr 8, 2012 6:25pm Apr 8, 2012 6:25pm
Quoting A-speculator
like i said, they know something sometimes months before, sometimes years before the thing happens.. it's not fundamental or technical.. something more than that.. astrology perhaps? and they can time the thing to happen accurately not by the date only, sometime their prediction is in time of the day that thing will happens.. and they're right up to the seconds...

i got to go.. see u all later..

green pips mate..
Dude thats really Fundamental... Same way how im predicting AUDUSD gona hit 0.95 by this year... simply because China economy is slowing down, if its was a hard landing AUDUSD would tank further than 0.95 mate...
its all fundies man....
Gold is also another factor why AUDUSD is gona tank... EUROPE obviously holding gold is selling gold to prevent catastrophic debt crisis to break hell loose... now if EUROPE sells gold... teh AUSSIE is gona suffer too... Tell me that isnt Fundies???

Stop being so narrow minded on technicals, im trying to tell you Technicals are only for people who are uncomfortable of learning people's thinking, calling bluffs etc etc...
simply cuz you can read about it in Books how to trade with Technicals...
But to be a fundamental trader, require years of trading... (i probably traded longer than you but who knows... since i started 14)
to develop the intuition needed to trade the market....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,871
  • Apr 8, 2012 6:56pm Apr 8, 2012 6:56pm
Quoting bguguen
Dude thats really Fundamental... Same way how im predicting AUDUSD gona hit 0.95 by this year... simply because China economy is slowing down, if its was a hard landing AUDUSD would tank further than 0.95 mate...
its all fundies man....
Gold is also another factor why AUDUSD is gona tank... EUROPE obviously holding gold is selling gold to prevent catastrophic debt crisis to break hell loose... now if EUROPE sells gold... teh AUSSIE is gona suffer too... Tell me that isnt Fundies???

Stop being so narrow minded on technicals, im trying to tell...
Narrow minded!! Are you for real? You say you don't criticize scalpers but do criticize other medium term day traders who dont use fundies. Why criticize them just because they don't use fundies? THAT is narrow minded mate. When you called a fundie short after a NFP news item a few months ago boldly claiming we would be at 52 or so in 2 weeks then went off and drank champaign , I called a technical long and said expect a reaction at 5990. What happened? Next month we got to 5991, then plunged nearly 400 pips. Not only that, my tech system captured over 1500 pips that month. We maybe so focused on technicals as you say that we don't understand as much fundies as you, but you are clearly so immersed in you fundamental views and education that you are just ignoring the facts that tech traders can make good money trading higher timeframes. How many shorting oppirtunities do you want in order to be proven right? I think this is your fourth? Meanwhile tech traders are playing the bounces and swings and going with the flow. I dont say fundie traders shouldnt use fundies, but to criticize tech traders who make money without fundies, thats insane. Wake up bro
Come with me if you want to live....
  • #306,872
  • Apr 8, 2012 7:05pm Apr 8, 2012 7:05pm
This place has gone to the shitter -
Attached Image
I don't trust any move - when you have profit...take it.
  • #306,873
  • Apr 8, 2012 7:09pm Apr 8, 2012 7:09pm
Quoting Ill-b-back
Narrow minded!! Are you for real? You say you don't criticize scalpers but do criticize other medium term day traders who dont use fundies. Why criticize them just because they don't use fundies? THAT is narrow minded mate. When you called a fundie short after a NFP news item a few months ago boldly claiming we would be at 52 or so in 2 weeks then went off and drank champaign , I called a technical long and said expect a reaction at 5990. What happened? Next month we got to 5991, then plunged nearly 400 pips. Not only that, my tech system captured...
I am not criticizing medium term who uses techs, im just saying they should be cautious and it annoys me how some only some... obviously not you...
that tech traders go "What happened, why'd it tank?" i just cant be amused any more but by saying you should be aware of fundamentals affecting your technical trades...

If you're making money on pure techs, great im not saying much other than that but be serious... when a fundamental event comes up say NFP... im pretty sure as a Technical trader, you would avoid it wouldnt you? well thats you being a tech trader who does take Fundies into consideration... soo my theory proves correct...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,874
  • Apr 8, 2012 7:18pm Apr 8, 2012 7:18pm
Quoting bguguen
I am not criticizing medium term who uses techs, im just saying they should be cautious and it annoys me how some only some... obviously not you...
that tech traders go "What happened, why'd it tank?" i just cant be amused any more but by saying you should be aware of fundamentals affecting your technical trades...

If you're making money on pure techs, great im not saying much other than that but be serious... when a fundamental event comes up say NFP... im pretty sure as a Technical trader, you would avoid it wouldnt you? well that you being...
Sorry mate, where did you get the idea I take fundies into consideration? I actually did short that NFP news if you remember correctly, in fact I shorted about 4 hrs before it happened because my tech system told me to. If I was in a better time zone I might have closed it out
Before the bullish retrace and made more than 20 pips. We all live in our own worlds bro and it just seems to me you are trying to prove that yours is the only correct one, that is the issue I have. If I am wrong about that then I apologise, but 1500 pips in a month based purely on techs and capturing every major swing on the 4hr and daily TF is not something I mention to boast about it really isn't, it's something I mention to try and show you that there is more than one way to win at this game even on higher timeframes, a fact you just can't seem to accept.
Come with me if you want to live....
  • #306,875
  • Apr 8, 2012 7:27pm Apr 8, 2012 7:27pm
Quoting Ill-b-back
Sorry mate, where did you get the idea I take fundies into consideration? I actually did short that NFP news if you remember correctly, in fact I shorted about 4 hrs before it happened because my tech system told me to. If I was in a better time zone I might have closed it out
Before the bullish retrace and made more than 20 pips. We all live in our own worlds bro and it just seems to me you are trying to prove that yours is the only correct one, that is the issue I have. If I am wrong about that then I apologise, but 1500 pips in a month based...
im not denying yoru trading style and yea unfortunate as it seems for the short before NFP... i can tell you Hold it because the News is a GOOD US news... despite the job created 120k its still good news.... keep the short...

Btw i did long GBPUSD a couple times too... but only scalps... i have Long term Short positions but i do scalp longs time to time over the move from 1.55 to 1.6

BTW not to brag but i also made about 1500 pips on this account of mine... though not only trading GBPUSD...
http://www.myfxbook.com/members/bgug...-adryfx/260406
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,876
  • Apr 8, 2012 7:28pm Apr 8, 2012 7:28pm
News items can be unreliable as has been shown many, many times. Anyway, I feel I may have over stepped my mark in misinterpreting fundi meaning. You are correct that most tech traders would avoid major news items, but news items can also go against fundi traders as was shown those months ago. By fundi consideration, I mean on going economic analysis such as you do, not single news items which as I mentioned and has been clearly shown in the past, can catch fundi and tech traders off guard. I may have misinterpreted your criticism, sorry mate.
Come with me if you want to live....
  • #306,877
  • Apr 8, 2012 7:34pm Apr 8, 2012 7:34pm
friday was bank holiday for most of world,nfp data doesnt suggest anything good,monday is still bank holiday all over the world,so tuesday should see gbp gaining some good boost,when banks open,before dollar is trashed again for a while
  • #306,878
  • Apr 8, 2012 7:35pm Apr 8, 2012 7:35pm
Quoting Ill-b-back
News items can be unreliable as has been shown many, many times. Anyway, I feel I may have over stepped my mark in misinterpreting fundi meaning. You are correct that most tech traders would avoid major news items, but news items can also go against fundi traders as was shown those months ago. By fundi consideration, I mean on going economic analysis such as you do, not single news items which as I mentioned and has been clearly shown in the past, can catch fundi and tech traders off guard. I may have misinterpreted your criticism, sorry mate.
You are correct that Fundie data can screw up some traders but i'd like to highlight how over the past 2 or so months...

When traders looked at really Good figures coming out in NFP.... they thought they could short the GBPUSD and EURUSD... when the fact is Right after NFP... you had clowns like Ben Bernanke publishing statement or gona speak of something...

As a fundy trader... i didnt trade the NFP immediately after the publish time to time... because the fact is Data is good... but you can always have a clown like Ben Bernanke to come out and speak bad about the US...
Some... i mean Some tech traders to take consideration on NFP but very often you see they screw up big time because Ben Talks... thats what happened over the past 3-4 months when US kept publishing really strong NFP numbers... yet GBPUSD rose why?? well ben bernanke came out right after the data published only to talk about his plans on QE3.... go figure...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,879
  • Apr 8, 2012 7:37pm Apr 8, 2012 7:37pm
Quoting pinkiaiii
friday was bank holiday for most of world,nfp data doesnt suggest anything good,monday is still bank holiday all over the world,so tuesday should see gbp gaining some good boost,when banks open,before dollar is trashed again for a while
im curious why do you think NFP was bad?? it still created 120k jobs.. its not like NFP shrank the labour force with Negative numbers...
also unemployment rate fell by 0.1 %...
meaning 120k jobs created is enough to lower unemployment rate by 0.1%
you can argue that less people are seeking jobs... but i dont think thats the case at all when unemployments been consistently going down over the last 4 or so months...

The NFP is only a bad news as it gives Ben a good reason to bring QE3 back on the table....

In fact... you should read a bit more... UK economic growth is as i feared with GDP growth as low as 0.1%...

I am not happy with 0.1% UK GDP growth specially when UK did deploy QE already soo people would say UK only maaged to avoid recession this quarter by printing money...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #306,880
  • Apr 8, 2012 7:40pm Apr 8, 2012 7:40pm
Quoting bguguen
im not denying yoru trading style and yea unfortunate as it seems for the short before NFP... i can tell you Hold it because the News is a GOOD US news... despite the job created 120k its still good news.... keep the short...

Btw i did long GBPUSD a couple times too... but only scalps... i have Long term Short positions but i do scalp longs time to time over the move from 1.55 to 1.6
Nah mate, if I had held that short without my longs, I would have been margined out long ago I don't look at trading that way, or I should say my system doesn't see it that way. Short and medium term swings then I'm out and wait for the next one. If I get a longer term signal off the weekly then I will hold it and take other trades in the meantime off daily and 4hr. Hey look, ok I think we loom at the market differently and your fundamental passion has much to do with this. For me, my passion is trading and others here also I think so our outlooks and styles will be different. But "bullshit longs" that make money? Sorry bro, doesn't exist Actually, I think that highlights our different outlooks. You relate those longs to your fundi outlook perhaps so see them as BS, while traders (not just me) see them as trades that make pips, so all I would suggest is to perhaps tone done criticisms a little particularly when the results (pips) of tech traders do not support your criticisms.
Come with me if you want to live....
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