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Cable Update (GBPUSD)

  • #319,761
  • Jul 25, 2012 3:09pm Jul 25, 2012 3:09pm
Quoting Faller
keep it real big boy - hey sometimes we just have to cut it loose.....I was visiting my brother-in-law last week down in Windsor (Ontario) and he had a position in a stock called TWM - it is a 2 times inverse for the Russell 2000 - Well long and short of it....he bought the stock a few years ago at the market bottom thinking there would be a black swan.....and well we all know the market completely covered......he 25,000 investment dwindled down to $4500.00 - Well when I was visiting him....he finally acknowledge his error and he cut it loose.....now...
Faller I get where you are coming from now...

Olu
If you think you can or cannot do it you are correct
  • #319,762
  • Jul 25, 2012 5:13pm Jul 25, 2012 5:13pm
Quoting Faller
absolutely crazy talk.....no way in hell it can do that after the negative GDP numbers......smoke another one -
90% of traders use TA, indicators and prediction
  • #319,763
  • Jul 25, 2012 5:22pm Jul 25, 2012 5:22pm
i agree in the "take the profits when you have them!"
too many times we are inclined to think about a possible level which never comes. or come after we got stopped @be or stopped by 1 pip.
and too many times people are used to predict moves.
the only thing is to find a way to get an entry for some pips let's say 20 to 60, say "thank you" and leave till the following day.

today i went long in GU 5473 first touch.
could have closed in 50 pips profits.
did not.

clear example.
90% of traders use TA, indicators and prediction
  • #319,764
  • Jul 25, 2012 5:33pm Jul 25, 2012 5:33pm
Quoting Faller
keep it real big boy - hey sometimes we just have to cut it loose.....I was visiting my brother-in-law last week down in Windsor (Ontario) and he had a position in a stock called TWM - it is a 2 times inverse for the Russell 2000 - Well long and short of it....he bought the stock a few years ago at the market bottom thinking there would be a black swan.....and well we all know the market completely covered......he 25,000 investment dwindled down to $4500.00 - Well when I was visiting him....he finally acknowledge his error and he cut it loose.....now...
Hey Faller,

I see GU as very oversold and maybe some of the neg news was priced in during that last crash from 1.6xx... U think Olympics will effect the pair psychologically? Good vibrations from a gold medal lol

end of the day you can always close half and let the rest run while collecting swap... most of the time it won't work, but you'll come across one of those times when u hit a homerun. I figure atleast a 2-1 R:R would be a necessity.

As far as the stop hunting, well think about it, there's more money at play than ever before. The moves are erratic for multiple reasons.. there is taking out the retail stops for easy money around S/R... so your S/R isnt actualyl respected (this is something that's more common around the last 5 years with the retailers coming on board in full force), theres the algo trading systems which don't care what you think it will place a trade either depending on news, arbitrage or some technical setup built in, and theres anti systems which prey on these things to make them confused. Put all those things together and you have a big mess.

More money the more problems.

Jag
  • #319,765
  • Jul 25, 2012 6:32pm Jul 25, 2012 6:32pm
Quoting Faller
ah this is just stop hunting....so that the big boys can short from a high price....right?
So what happened to your Longs?? 1.55 held in fact we have a bearish Doji on daily... good luck
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #319,766
  • Jul 25, 2012 6:34pm Jul 25, 2012 6:34pm
Quoting Faller
wish I could wake you up right now - dam thing is running away on me....what the hell is going on....
Dont worry Sleeping deeply in bed without any panic of GBPUSD going too far above 1.5500...
Daily still bearish...
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #319,767
  • Jul 25, 2012 6:46pm Jul 25, 2012 6:46pm
Quoting bguguen
Dont worry Sleeping deeply in bed without any panic of GBPUSD going too far above 1.5500...
Daily still bearish...
bg boy what stops u got on GU? I would like it to fall but there buyers at 1.5450 sort of area and also if you look on monthly chart there is trendline at the bottom
  • #319,768
  • Jul 25, 2012 7:25pm Jul 25, 2012 7:25pm
Quoting bguguen
So what happened to your Longs?? 1.55 held in fact we have a bearish Doji on daily... good luck

This is what happened to my longs -

http://www.forexfactory.com/showthre...69#post5876169

I take profit daily.

Sorry - I don't let my position go in profit for 30 pips then a draw of 40 pips then a profit of 35 pips then a draw of 30 pips then a profit of 20 pips and keep wondering when to cut the loss or take the profit - my trading style is obviously different then yours. I can respect your trading style - just respect others as you respect yourself and I will do the same.

Faller.
I don't trust any move - when you have profit...take it.
  • #319,769
  • Jul 25, 2012 7:44pm Jul 25, 2012 7:44pm
been catching this quite well with the range from 1.547 to 1.552, just closed a cheeky short from 1.5513 for a nice profit, thinking about another long back up to it? Maybe im pushing my luck but it does seem range bound for quite a while now, nothing big going on in asian markets so maybe more ranging for a few hours yet and another chance to ride it up and down at least once more?
Money never sleeps...
  • #319,770
  • Jul 25, 2012 7:46pm Jul 25, 2012 7:46pm
Quoting redbeben
we're all just learning here.some are already making a living out of it some are struggling but we all are learning.I know that whe will do one internship in a bank or something and he will see how reality is.He's doing well trading,just needs to adjust things here and there especially in confidence in either techs or fundies as they do not work all the time...

even I,have now 90% winning rate as I don't trust the market anymore so I tighten the SL's

2012 is a damned year for traders.last year all was calm.this year is chaos.

anyway,some...
very well said
  • #319,771
  • Jul 25, 2012 7:50pm Jul 25, 2012 7:50pm
Quoting Faller
This is what happened to my longs -

http://www.forexfactory.com/showthre...69#post5876169

I take profit daily.

Sorry - I don't let my position go in profit for 30 pips then a draw of 40 pips then a profit of 35 pips then a draw of 30 pips then a profit of 20 pips and keep wondering when to cut the loss or take the profit - my trading style is obviously different then yours. I can respect your trading style - just respect others as you respect yourself and I will do the same.

Faller.
i can see we got different trading strategy, mine is mor of a position building one
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #319,772
  • Jul 25, 2012 8:31pm Jul 25, 2012 8:31pm
Quoting bguguen
i can see we got different trading strategy, mine is mor of a position building one

I guess nobody ever reads my posts -

I have said forever that I am an intra day trader. 80 to 90 percent of all trades are closed by the end of the day. I TRADE FUTURES - this is different then spot forex.

Taking profit daily is the name of the game - I do this full-time. This is how I pay the mortgage and feed the family. One day when you have a wife and kids and a mortgage and bills and car payments etc you will understand.

Not that your trading style cannot work - just be honest with yourself and the type of trader you are and what you need to cover your living expenses - i was like you once....in school....getting school grants and loans etc....living the high life.....well one day you will take the step into the real world and have real commitments.........there is a time to play and a time pay.......and like I said .....with this eractic market there is no sense in holding for long periods of time.....ask yourself how much profit you could of had if you were like Redbedden.....open long...close long...open short...close short etc.........

Enjoy your evening.

Faller
I don't trust any move - when you have profit...take it.
  • #319,773
  • Jul 25, 2012 8:49pm Jul 25, 2012 8:49pm
Quoting redbeben
we're all just learning here.some are already making a living out of it some are struggling but we all are learning.I know that whe will do one internship in a bank or something and he will see how reality is.He's doing well trading,just needs to adjust things here and there especially in confidence in either techs or fundies as they do not work all the time...

even I,have now 90% winning rate as I don't trust the market anymore so I tighten the SL's

2012 is a damned year for traders.last year all was calm.this year is chaos.

anyway,some...
Very good Dude,
I must say, this is the first of your posts where I understood what you were saying. Pls don't get me wrong, this is my fault not yours, since all I know about Itchi, is that I like to scratch it
We should respect each others trading styles, and be careful not to judge.
Allow each the freedom to trade without fear or favour, fundi, tech, scalp, position build etc.
And never be afraid to apologise for our BS when we break our own code of conduct, there's no shame in it as we all do it from time to time. It's amazing what a (sincere) apology can achieve.

No one expects perfection, just consistency.
Come with me if you want to live....
  • #319,774
  • Jul 25, 2012 8:49pm Jul 25, 2012 8:49pm
Quoting Faller
I guess nobody ever reads my posts -

I have said forever that I am an intra day trader. 80 to 90 percent of all trades are closed by the end of the day. I TRADE FUTURES - this is different then spot forex.

Taking profit daily is the name of the game - I do this full-time. This is how I pay the mortgage and feed the family. One day when you have a wife and kids and a mortgage and bills and car payments etc you will understand.

Not that your trading style cannot work - just be honest with yourself and the type of trader you are and what you...
Woah Woah.... i am not like you in anyway... you had to get school grants?!?! thankfully i have never ran into any credit situation... all my study expenses and spending in UK are covered by my profits in Forex....
with that profit i make, a bit of that college high life here and then aint too bad...
But to be honest with you, i dont want to be anyone else right now....
Im quite comfortable right now
But i got to say... didnt keep up with my 20% per month profit this year... market is not trending enough for me to do so....
but still i have to admit, a intraday trader can make far more money tha i do, since i can only catch big movements....
We live in a finite world with infinite possibilities.
FxTyrant M-Series (Live - Darwinex) All Time Return: 0.7%
  • #319,775
  • Jul 25, 2012 9:29pm Jul 25, 2012 9:29pm
The Future? lol
Attached Image (click to enlarge)
Click to Enlarge Name: gu weekly.jpg Size: 78 KB
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #319,776
  • Jul 25, 2012 9:29pm Jul 25, 2012 9:29pm
Quoting bguguen
Woah Woah.... i am not like you in anyway... you had to get school grants?!?! thankfully i have never ran into any credit situation... all my study expenses and spending in UK are covered by my profits in Forex....
with that profit i make, a bit of that college high life here and then aint too bad...
But to be honest with you, i dont want to be anyone else right now....
Im quite comfortable right now
But i got to say... didnt keep up with my 20% per month profit this year... market is not trending enough for me to do so....
but still i have...

-

So why don't you just trade forex full time if you are that successful - it is much more rewarding to be self sufficient then to work for someone. As for school - you can educate yourself your whole life long.....you do not need a university. If you are as successful as you say you are - GO FOR IT!!!!!! Go full time and live the life of freedom - wish I could have done that at your age! You have my vote of confidence - do you have your own?

Cheers Killer!

Faller.
I don't trust any move - when you have profit...take it.
  • #319,777
  • Jul 25, 2012 9:30pm Jul 25, 2012 9:30pm
Quoting Ill-b-back
Very good Dude,
I must say, this is the first of your posts where I understood what you were saying. Pls don't get me wrong, this is my fault not yours, since all I know about Itchi, is that I like to scratch it
We should respect each others trading styles, and be careful not to judge.
Allow each the freedom to trade without fear or favour, fundi, tech, scalp, position build etc.
And never be afraid to apologise for our BS when we break our own code of conduct, there's no shame in it as we all do it from time to time. It's amazing...


Could not have said it any better myself......

How is the wife and baby----have not seen you around here much....how are you doing?

Faller.
I don't trust any move - when you have profit...take it.
  • #319,778
  • Jul 25, 2012 9:34pm Jul 25, 2012 9:34pm
need some liquidity, but playin for a nose dive. playin is the operative word.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd01.png Size: 58 KB
  • #319,779
  • Jul 25, 2012 9:56pm Jul 25, 2012 9:56pm
Long 5480

TP 5700
  • #319,780
  • Jul 25, 2012 10:17pm Jul 25, 2012 10:17pm
Quoting wasabeclaw
Long 5480

TP 5700

Interesting spot to initiate - -I don't disagree with you but the only thing that concerns me is the disconnect that the pound has the the USDX right now -

The pound has been moving in tandem with the USDX - as the US dollar has been declining so has the pound....something has to give........

Going to bed now - back in a few hours.......good luck.

Faller.
I don't trust any move - when you have profit...take it.
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