yeah im out the gbp/yen trade...I must say that this trades are all not stress free trades. I wonder where the easy trades are ?
Cable Update (GBPUSD)
- #359,708
- Jan 21, 2014 1:19pm Jan 21, 2014 1:19pm
- Joined Feb 2012 | Status: Trader | 21,377 Posts
In trading, you have to be defensive and aggressive at the same time
- #359,709
- Jan 21, 2014 1:30pm Jan 21, 2014 1:30pm
- Joined Jun 2013 | Status: Trader | 3,071 Posts
{quote} and we have some GAP's {image} {image}
Cancer is quicker than GU.. staying long
- #359,712
- Jan 21, 2014 2:00pm Jan 21, 2014 2:00pm
- Joined May 2011 | Status: Get to the Chopper | 17,905 Posts
Thank you for your good wishes...I have asked both to those using tech and fundie analysis to explain their bearish view to me and no one can/has done...which itself may tell us something. It just seems that those in a short position (s) defend them by telling the rest of us we know nothing etc....this happened with a regular poster here in the run in to the end of last year....he was short - we all knew nothing and of course all his positions got stopped out and what did he do then ? - he stopped posting on this thread for a few weeks until last...
Oh, and I like the way you think
Come with me if you want to live....
- #359,714
- Jan 21, 2014 2:09pm Jan 21, 2014 2:09pm
- Joined Jun 2013 | Status: Trader | 3,071 Posts
Thank you for your good wishes...I have asked both to those using tech and fundie analysis to explain their bearish view to me and no one can/has done...which itself may tell us something. It just seems that those in a short position (s) defend them by telling the rest of us we know nothing etc....this happened with a regular poster here in the run in to the end of last year....he was short - we all knew nothing and of course all his positions got stopped out and what did he do then ? - he stopped posting on this thread for a few weeks until last...
Fo Fac is a funny place, most have had some sort of training Fundie or Techy... all have been taught... The TREND is your FRIEND but somehow, just somehow everyone forgets the older teachings of Dow theory i.e the trend is absolutely intact until absolutely proven otherwise (usually a decrease of more than 20%) In the case of Cable she is Over Bought... there are fundy reasons to support this though (the market is leading a position that interest rates will need to be raised sooner than CanuK Carney is guiding
)However the trend is up, sideways...
Its amazing to watch traders counter trend trading and its seems that there is a club here that looks for these counter trend trades and congratulates those who execute them.
Everyone forgest you need to follow the trend, so if its up "buy the Dips"if its down "Sell the rallies"
However the counter trending continues, its really dumb.... Really...
If cable breaks below... 1,3324 then the Bear is here... till then....
So for now... If you want to go long wait for a pull-back... Its not that hard...
G/L
- #359,716
- Jan 21, 2014 2:23pm Jan 21, 2014 2:23pm
- Joined Mar 2008 | Status: Taking Care Of Business | 5,587 Posts
Hear the music before the song is over ...
- #359,718
- Jan 21, 2014 2:25pm Jan 21, 2014 2:25pm
- Joined Jun 2013 | Status: Trader | 3,071 Posts
{quote} Alright man, hang on to your long position if you got in at a low enough spot, plenty of time to readjust if need be.
Kind of the point here
- #359,719
- Jan 21, 2014 2:27pm Jan 21, 2014 2:27pm
{quote} Its comes down to this... If you trade against the trend and you get it wrong, you can't wait till it comes your way... If you trade with the trend, you can take the punch of a draw-down and still profit.. Simple
Excellent point.
This is what stop losses are for.
- #359,720
- Jan 21, 2014 2:29pm Jan 21, 2014 2:29pm
- Joined Jun 2013 | Status: Trader | 3,071 Posts
{quote} Excellent point. This is what stop losses are for.
Be well
Its late in Africa...
Time to
