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Cable Update (GBP/USD) without Idiots 25 replies

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Cable Update (GBPUSD)

Quoting ferreira1239
{quote} I thought 1.5560 was a good entry point for a short. I got 1.5558. I just mentiond to forexaccent that Im wilth him on the direction. Did not take the trade because he did.
OK then. Let's take it from here. Why was .5560 a good entry for you? You just had a gut feeling or you saw smth on your chart? Having 4 losers (3 more after 1st one) in a row looks like revenge trading.
Quoting blobsaudio
{quote} Did you follow your plan? Did you break any of your rules when entering those trades? If not you have nothing to worry about, losses will always happen. They can be very disheartening when you get a series of them, just take a peek at my trade explorer and you will see a recent string of them.
I did follow my plan. I did risk a bit more on the last trade that was not my usual risk but was acceptable. worse case I would have two loosers in a row but never four. I guess its all part of experrience. I just had to wait a very long time for it to happen to me so 4 losses in a row is a new experience to me.
Quoting TauTrader
{quote} Elegant to say the least. Keep posting. enjoyed. All the best
weldone mr t...must hand it to u ,very good trade

also humbling experience for me..i know jack!!
Igenix, what is your criteria for entering a trade? Sounds like you typically enter when a market is completely exhausted.
There's always money in the banana stand.
Quoting 1pipperhour
{quote} OK then. Let's take it from here. Why was .5560 a good entry for you? You just had a gut feeling or you saw smth on your chart? Having 4 losers (3 more after 1st one) in a row looks like revenge trading.

Thought it was the reversal of trend according to the 1 hour chart. so mesuring the from the high of 1.5594 to 1.55187 (1.560 is a 60% fib retracment and ) and the 79% retracment of the move down of 1.5751 to1.4813 on daily chart. So the there was overlaping fibs and thought the trend on the hourly change to the downside for the day. So good leves as it allso held 7 days ago.

I dont think I was revenge trading but just trading. I can see how someone may see it that way as I have lost 4 in a row. I have revenge traded in the begining of my trading career as I thought I would get the market back but one does soon learn that it cant be done.
Quoting ferreira1239
{quote} I did follow my plan. I did risk a bit more on the last trade that was not my usual risk but was acceptable. worse case I would have two loosers in a row but never four. I guess its all part of experrience. I just had to wait a very long time for it to happen to me so 4 losses in a row is a new experience to me.
4 losses in a roe is achievable
The fragrance remains in the hands of those that gves the rose
Quoting forexaccent
{quote} Hi Ulterior, Why is this disturbing? Please explain yourself. Is it because mother is blind in one eye and can't see in other. You think this is disturbing? How? Maybe it is disturbing to her, but why you have to point it out. Everyday mother making me smile and not let her condition bother her. She is not letting her age or anything that is wrong with her stop her doing the things she is loving to do, like dancing, trading or watching her son (that is me) become...

Been reading the posts all day here.....and I for one cannot stand one more post that says oh thank you kind sir I like....no I like you....you are nice....I am nice.....or I nice.....you nice.....I like you sir....oh thank you kind sir!!!!!!! WTF!!!!!!!!!!!!!!!!!!!!

And I would like to point out one thing.....if your mother is blind in one eye and cannot see out of the other....how to do explain what I highlighted in red above???? Trading blind? Well I guess that is possible as some people do that even when they can see lol!!!!!!

I look forward to your response......or maybe not.....
I don't trust any move - when you have profit...take it.
Hello

GBP/US had a pending short hit 15650

15500 TP

Its looking like it might climb some more:nerd:

End off week,expecting them to pull the chain
Quoting ferreira1239
{quote} I did follow my plan. I did risk a bit more on the last trade that was not my usual risk but was acceptable. worse case I would have two loosers in a row but never four. I guess its all part of experrience. I just had to wait a very long time for it to happen to me so 4 losses in a row is a new experience to me.
Nothing to worry about then , it will happen again and you will likely suffer a bigger losing streak than 4 at some point. As long as you don't lose your head when it happens or start questioning your entire plan you should be fine.
Quoting Ulterior
look guys what I found and this is very disturbing: {quote} I think there is mentally ill person posting here

Could be on to something.........
I don't trust any move - when you have profit...take it.
Quoting LizardGizzard
Igenix, what is your criteria for entering a trade? Sounds like you typically enter when a market is completely exhausted.

I thought so to myself. But then it keeps happening. Like a recent trade i put on gbp/usd sold it at just below the daily pivot point, price was below the sma 14 and 2 red candles had just formed. as soon as i put the trade on it rocketed up in the other direction.

Then today looked at the longer time frames on USD/CHF, thought it was going to go up. Price had just rebounded up off support level and placed a buy order. And guess what happened?

Its really frustrating. Keep making these thought out decisions, looking at charts, reading the news, using S/R and moving averages. But nothing seems to make any difference. All the indicators lag behind the price, so it is easy to do a commentary in hindsight.
Quoting Ill-b-back
{quote} A massive 250pips in just 1 short month WOW, that's some $ bull you got there mate lol.... I'm off to bed, see you at 5750++
what a bout my call for GBPUSD while it was up at 1.63 to go down to 1.48, about 8 months ago, no body believed me....
so please dont lecturre me.
We live in a finite world with infinite possibilities.
Quoting fxtyrant
{quote} what a bout my call for GBPUSD while it was up at 1.63 to go down to 1.48, about 8 months ago, no body believed me.... so please dont lecturre me.
Lol...
In case you haven't noticed mate I tend to fight fire with fire.
If you don't want to be lectured to, then don't lecture me and others.
If you can't take it, don't dish it out...
How many other ways can I put it...?
Come with me if you want to live....
Igenix. Trendline breaks are your best friend. Also, I think you're right about the USD/CHF heading north, but if you're looking at longer time frames, then you need a very large stop (9150) perhaps. To me, based on failing momentum in the last few days on USD/CHF, I would only have been shorting. Anyway, don't get discouraged. Keep at it. I would only advice relying on price action and possibly divergence to help you see when a market is losing its momentum.. I've found moving averages, fibs, and pivots are pretty much worthless distractions that keep you from simply LOOKING at where price is heading. Happy trading.

Liz
There's always money in the banana stand.
  • #345,355
  • Quote
  • Edited 6:43pm Aug 15, 2013 6:31pm | Edited 6:43pm
Quoting Faller
{quote} Been reading the posts all day here.....and I for one cannot stand one more post that says oh thank you kind sir I like....no I like you....you are nice....I am nice.....or I nice.....you nice.....I like you sir....oh thank you kind sir!!!!!!! WTF!!!!!!!!!!!!!!!!!!!! And I would like to point out one thing.....if your mother is blind in one eye and cannot see out of the other....how to do explain what I highlighted in red above???? Trading blind? Well I guess that is possible as some people do that even when they can see lol!!!!!! I look...
Hi Faller,

Thank you for honesty and very good question. I like you, you seem to have sparkle inside you, please don't lose it, okay. I know there is nice guy inside you. Okay to answer questions:

If mother is blind in one eye and can't see out of other how can she:

Trade: Okay when we in old country and I was little boy mother and father very happy. Mother stay at home doing dishes, laundry, cleaning, cooking and home schooling me (like good women is supposed to no) and father is working in the fields to making the money. Than father get news he must go to help fight in war. So after father leaves we not see letters for many months. After war is over 2 soilders come to front door to tell us father die in bathroom where he stationed because he miss toilet at night pee on floor slip and hit head too hard to cause internal bleeding. So mother worried because she needing to feed me and not have money. So she sleep with butcher but not making any money. So she go to Internet cafe and finding forex. After many years she master it and making lots of monies. Than she teaching me and I learning and making lots of the monies. After many months she notice her good eye is getting weaker. Other eye is born with the blind. Now mother is getting worried because she not able to see charts like before. I tell not worry I making the good monies now in trading. So we taking monies and buying some cows, pigs, sheeps, etc. some we give to butcher, but most we are keeping and making little money. Than we take rest of money and making algorithms for mother. Now it making sound when to buy and different sound when to sell. This is how she is trading.

Watching her son: When I am saying this I mean she is watching with her heart, not eyes. Maybe you not understand, to complicated for you. I not talking literally with eyes she is watching me with heart to make sure son is doing good. I hope you can understand this.

Okay anymore questions. I have no problem to answer but maybe ask in private message. You can come over for dinner and meet mother too. After dinner we can play with goats. I like you, you nice guy, but just send message so we can make thread about trading. Many thanks.
I making the big monies, so far +10 pips. Follow me if you nice guy...
Quoting forexaccent
{quote} Hi Faller, Thank you for honesty and very good question. I like you, you seem to have sparkle inside you, please don't lose it, okay. I know there is nice guy inside you. Okay to answer questions: If mother is blind in one eye and can't see out of other how can she: Trade: Okay when we in old country and I was little boy mother and father very happy. Mother stay at home doing dishes, laundry, cleaning, cooking and home schooling me (like good women is supposed to no) and father is working in the fields to making the money. Than father get...

Absolutely the best post of the day - thanks for your honesty and for sharing a part of your story.

I agree with keeping it professional and on topic -

Cheers to you and your mother.....and of course the goats and other animals - but not the butcher.....because she did not make any money from him!


All the best....

Faller
I don't trust any move - when you have profit...take it.
This thread really has taken a turn for the peculiar


Inserted Video


Let it roll
Come with me if you want to live....
Bullish thrust close on the daily t/f then (and pip range > 20 day atr,) an upside follow thru on yesterday's bullish bodied daily candle after the pullback and test of a previous resistance (ie a swing hi on 4hr/daily/minor weekly.) A decisive upside break and close above that steepest weekly descending trend line now. Weekly R1 the current 1hr/4hr/daily general opa trend hi and yesterday's Hi. a 3rd HH and 2nd Hl now on daily since pullback to 5101. 5751 previous swing hi moving into view now ?

Equity and Bond markets defying Carney's assurances last week - so far....the currency seemingly re-assured ?

How are you bears doing ? alrighty ?

To the immediate upside:

5651 Weekly R1 @/around and yesterday's Hi
5667-75 prev 4hr sw hi zone
5695 Daily R1 @/around
5725-33-51 prev 4hr/daily/weekly swing hi zone incl 5751 = Daily R2 @/around
5760 61.8% 6349-4811
5772 50% 6746-4811 and Monthly R2 @/around
5796 Weekly R2 @/around
5813-44 prev daily minor sw hi zone
5820-77 prev weekly sw lo zone incl: 5851 = Daily R3 @/around, and 5861-77 prev daily minor sw hi zone
Attached Image (click to enlarge)
Click to Enlarge Name: dly.jpg Size: 139 KB
ex member
Quoting ferreira1239
{quote} Thought it was the reversal of trend according to the 1 hour chart. so mesuring the from the high of 1.5594 to 1.55187 (1.560 is a 60% fib retracment and ) and the 79% retracment of the move down of 1.5751 to1.4813 on daily chart. So the there was overlaping fibs and thought the trend on the hourly change to the downside for the day. So good leves as it allso held 7 days ago. I dont think I was revenge trading but just trading. I can see how someone may see it that way as I have lost 4 in a row. I have revenge traded in the begining of my...
Sounds reasonable to me. I'm not gonna tell you how to trade. You have your own entries. What about money management? I see it went a bit in your favor and then reversed (I said to some wise guy here, that it looks like a shake out some sorts. He thought, this is it, now it's gonna heading south ). But why didn't you close it but let it run? Any particular reason? Hopes again?

The good thing is, that .5560 area gets tested again in some point. Question is - when? It can happen today or in 8 months . I dunno I just know that I'm pulling money out of it
Quoting nAVIN2007
{quote} weldone mr t...must hand it to u ,very good trade also humbling experience for me..i know jack!!
Cheers NAV.. appreciated.

You have made some excellent deductions over the past few weeks that played out well for you. I do not believe for one second that you know jack. That's bull.

The trade did not work. That is all.

Have a good one!
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