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Cable Update (GBPUSD)

  • #320,481
  • Aug 2, 2012 7:51pm Aug 2, 2012 7:51pm
Quoting inpatient
Thats funny, i know PT and Faller have long sentiments and i for one after what seems like a billion hours of research, looking at stats feel that at the very least the short term (3-5 days will see us again at least in the high 1.56's) A bit ballsy but my long is already in place and to prevent me taking it off im not even going to watch overnight or tomorrow news. Just let the TP or S/L @ 1.545 close me out.
Seeing the chart sometime make us nervous, if we have green in hand....you want to close earlier even not hit the TP yet, but if you got floated, you will hope and pray for the swing will recover your position back. I often make big lot when i leave it working by it self.......
I understand why you said just hit my TP or take my SL away...

This mentality is some thing i want to improve, keep cool when profit and do something needed in case we are in wrong direction...
  • #320,482
  • Aug 2, 2012 8:12pm Aug 2, 2012 8:12pm
Does anyone else have a chart that looks like this?

I trade futures so markets close at 5PM EST and re open at 6PM EST

Market opened up at 1.5557 - huge gap up it stayed there for 3 mins (see that little yellow dash) - then the next 3 min bar price dropped down to 1.5508

Just curious.....

Faller.
Attached Image (click to enlarge)
Click to Enlarge Name: Cable Chart.jpg Size: 118 KB
I don't trust any move - when you have profit...take it.
  • #320,483
  • Aug 2, 2012 8:17pm Aug 2, 2012 8:17pm
Quoting Red Alert

This mentality is some thing i want to improve, keep cool when profit and do something needed in case we are in wrong direction...

Only way i can do this is by not watching the market, just place the trade and walk away. Trust your own judgement/instinct and let it ride out. if i watch it im a pussy and im out as soon as i have ten pips.
Money never sleeps...
  • #320,484
  • Aug 2, 2012 9:28pm Aug 2, 2012 9:28pm
Quoting Faller
ack -- PT don't know shit - and I don't know nuf ing
  • #320,485
  • Aug 2, 2012 9:30pm Aug 2, 2012 9:30pm
Quoting PoundTrader
Short This Fucker
you crazy
  • #320,486
  • Aug 2, 2012 9:41pm Aug 2, 2012 9:41pm
Almost Parallel lines on the highs and lows on the H4,
Attached Image (click to enlarge)
Click to Enlarge Name: 0802.jpg Size: 187 KB
Money never sleeps...
  • #320,487
  • Aug 2, 2012 10:31pm Aug 2, 2012 10:31pm
faller im a little drunk but i would say we could see 1.5631 on friday, so longs is looking good, it would be very good going long at 1.5510 but it none been down there already. so lets see if im right
  • #320,488
  • Aug 2, 2012 10:49pm Aug 2, 2012 10:49pm
Quoting inpatient
Thats funny, i know PT and Faller have long sentiments and i for one after what seems like a billion hours of research, looking at stats feel that at the very least the short term (3-5 days will see us again at least in the high 1.56's) A bit ballsy but my long is already in place and to prevent me taking it off im not even going to watch overnight or tomorrow news. Just let the TP or S/L @ 1.545 close me out.
Looking at sentiment like yesterday retailers are long across the board so a rise is not justified retailers usually arent allowed to win. If it spikes first it will be like yest i think i bet yest ppl got caught holding. I think
to kill those it will come down to ur sl area then spike up once retailers are dead. Looking more and more like that
  • #320,489
  • Aug 3, 2012 12:13am Aug 3, 2012 12:13am
http://3.bp.blogspot.com/-gGWvMpg4B0...Term_08_02.png
  • #320,490
  • Aug 3, 2012 12:29am Aug 3, 2012 12:29am
Quoting sidhujag
Looking at sentiment like yesterday retailers are long across the board so a rise is not justified retailers usually arent allowed to win. If it spikes first it will be like yest i think i bet yest ppl got caught holding. I think
to kill those it will come down to ur sl area then spike up once retailers are dead. Looking more and more like that

the day i will think that market moves to take out retailers from their positions, i will leave forex trading!

moves like yesterday are a rarity. and they are not done to kill retailers. these moves are a clear sign of the huge volatility in markets, due to the worldwide situation.

there is no trend. and there are no reasons to open a trade "thinking" that market will go in a direction or the other. yesterday should be a great lesson to learn this.

in every second of trading, market can spike up/down from 100 to 500 pips in few minutes. few years ago did something similar with 800pips. and few months ago more than 1000 in chf pairs.

this is what stop loss was born for.

today everybody is a forex guru saying "of course, price stopped there because of this and that... and follow the trend: since trend is down so was impossibile this and that...."
truth is that a lot of people have been lucky, and some others have not.

90% of traders use TA, indicators and prediction
  • #320,491
  • Aug 3, 2012 12:44am Aug 3, 2012 12:44am
Quoting _BBKing_
the day i will think that market moves to take out retailers from their positions, i will leave forex trading!

moves like yesterday are a rarity. and they are not done to kill retailers. these moves are a clear sign of the huge volatility in markets, due to the worldwide situation.

there is no trend. and there are no reasons to open a trade "thinking" that market will go in a direction or the other. yesterday should be a great lesson to learn this.

in every second of trading, market can spike up/down from 100 to...

Yup....
I don't trust any move - when you have profit...take it.
  • #320,492
  • Aug 3, 2012 12:47am Aug 3, 2012 12:47am
but what will be the effect of NFP data on gbp/usd? Will it follow the trend set by eur/usd or go against it?
  • #320,493
  • Aug 3, 2012 12:50am Aug 3, 2012 12:50am
Quoting janakinamdar
but what will be the effect of NFP data on gbp/usd? Will it follow the trend set by eur/usd or go against it?

I don't trust any move - when you have profit...take it.
  • #320,494
  • Aug 3, 2012 12:59am Aug 3, 2012 12:59am
Quoting PoundTrader
faller im a little drunk but i would say we could see 1.5631 on friday, so longs is looking good, it would be very good going long at 1.5510 but it none been down there already. so lets see if im right
Well, it's Friday arvo here and the inlaws coming over for dinner
So, I'm getting a headstart myself

No trading for me today, will see where we end up for next week.

Keep those pips...
Come with me if you want to live....
  • #320,495
  • Aug 3, 2012 1:00am Aug 3, 2012 1:00am
Quoting janakinamdar
but what will be the effect of NFP data on gbp/usd? Will it follow the trend set by eur/usd or go against it?
do you see a trend in this market?
90% of traders use TA, indicators and prediction
  • #320,496
  • Aug 3, 2012 1:00am Aug 3, 2012 1:00am
Quoting _BBKing_
the day i will think that market moves to take out retailers from their positions, i will leave forex trading!


this is what stop loss was born for.

today everybody is a forex guru saying "of course, price stopped there because of this and that... and follow the trend: since trend is down so was impossibile this and that...."
truth is that a lot of people have been lucky, and some others have not.

  • #320,497
  • Aug 3, 2012 1:07am Aug 3, 2012 1:07am
Quoting _BBKing_
the day i will think that market moves to take out retailers from their positions, i will leave forex trading!

moves like yesterday are a rarity. and they are not done to kill retailers. these moves are a clear sign of the huge volatility in markets, due to the worldwide situation.

there is no trend. and there are no reasons to open a trade "thinking" that market will go in a direction or the other. yesterday should be a great lesson to learn this.

in every second of trading, market can spike up/down from 100...
stops move the market retailers generally have
same stops because of bad mm so it makes it worthwhile to do so. Its not coincidence look at ssi from dailyfx a contrarian indicator. Its been running for anwhile too. My theory anyways u have urs. Aslong as u lr understanding lets u have an edge its all good
  • #320,498
  • Aug 3, 2012 1:31am Aug 3, 2012 1:31am
Quoting sidhujag
stops move the market retailers generally have
same stops because of bad mm so it makes it worthwhile to do so. Its not coincidence look at ssi from dailyfx a contrarian indicator. Its been running for anwhile too. My theory anyways u have urs. Aslong as u lr understanding lets u have an edge its all good
yes of course.... everybody has his own point about this! personally i never checked in my life any retailer sentiments for 1 simple reason: i can't know if those are true data!
the only thing to believe in.... is in price. if price doesn't show what is good for a position, simply better stay out! no matter any sentiment, idea, line, indicator, etc... the following day, or the other, things will be better.

lol, we could talk forever about this, but in the end everybody will keep have different ideas! this is market
90% of traders use TA, indicators and prediction
  • #320,499
  • Aug 3, 2012 1:38am Aug 3, 2012 1:38am
Quoting sidhujag
stops move the market retailers generally have
same stops because of bad mm so it makes it worthwhile to do so. Its not coincidence look at ssi from dailyfx a contrarian indicator. Its been running for anwhile too. My theory anyways u have urs. Aslong as u lr understanding lets u have an edge its all good
btw..
great signature!! i like it!!
90% of traders use TA, indicators and prediction
  • #320,500
  • Aug 3, 2012 1:51am Aug 3, 2012 1:51am
Quoting redbeben


Nav you're still alive

I do the same when I have nothing to eat in the fridge...I just buy beer =)))))))))))))))))))))))) no matter the price

I mean my GF spent yesterday 100 eur on 3 soup cartons,1 kilo of tomatoes and some yogurts....beer is always cheaper

yes still alive ..lol hopefully i stay this way
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