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Cable Update (GBPUSD)

  • #363,141
  • Feb 12, 2014 5:45pm Feb 12, 2014 5:45pm
Quoting elbert3
{quote} post your chart for nzusd you would of seen mine last night and it more or less worked i just wished i would of been in the move up but i sold my profit i would be interested because and i have said this before ,,,sometimes it is better to see things in a simple way, i just posted my chart my thoughts are on the table for traders to view, you said the day before quote .why do you guys keep shorting this and look at nzusd, i did took 17 pips profit , so you see traders do look at opinions regards E
NZDUSD is a good example of a pair that is fizzling out. I think it is done going up now. Top is in.

I can understand shorting that pair, but I disagree with only going for such small targets. I think that is a b/e game at best. Well, there is more ways than one to skin a cat (or whatever that saying is), but again, I tried that many times over the years and it never worked in the long run for me (going for small targets, that is). So all I got is my experience from it which is why my opinion is strong. This ain't some theory I am disputing with you, this was tried in earnest for a long time by me. With that said, I am not saying it can not be done.
  • #363,142
  • Feb 12, 2014 5:50pm Feb 12, 2014 5:50pm
Quoting Zappa
{quote} Haha..relax man, sorry if I offended you.
No offence taken bro. I don't deny I'd like to be at that party too and then spot the perfect reversal, but such sofistication is beyond my reach. Anyway, I believe Cable will treat me right. Maybe as soon as tomorrow.
Be water, my friend
  • #363,143
  • Feb 12, 2014 5:52pm Feb 12, 2014 5:52pm
Quoting elbert3
{quote} post your chart for nzusd you would of seen mine last night and it more or less worked i just wished i would of been in the move up ...

And elbert, you took that call I made the other day and got out quickly with a small profit, but if you had stayed in look where it is now. We're talking about the difference between 10-20 pips and 200 pips (and counting). Now what was risked on your part? When you factor in spread, the r/r is way worse taking small profits, there's just not much of a way of getting around that fact.
  • #363,144
  • Feb 12, 2014 5:54pm Feb 12, 2014 5:54pm
Quoting spocktrader
{quote} No offence taken bro. I don't deny I'd like to be at that party too and then spot the perfect reversal, but such sofistication is beyond my reach. Anyway, I believe Cable will treat me right. Maybe as soon as tomorrow.
Well, I would wish you good luck, but I'm still long GBPNZD.
  • #363,145
  • Feb 12, 2014 6:00pm Feb 12, 2014 6:00pm
Quoting Zappa
{quote} NZDUSD is a good example of a pair that is fizzling out. I think it is done going up now. Top is in. I can understand shorting that pair, but I disagree with only going for such small targets. I think that is a b/e game at best. Well, there is more ways than one to skin a cat (or whatever that saying is), but again, I tried that many times over the years and it never worked in the long run for me (going for small targets, that is). So all I got is my experience from it which is why my opinion is strong. This ain't some theory I am disputing...
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ok this order is short target the 200sma that is about 50 pips lets say i put £20 per pip on its back, would you like this trade , as you see i post an idea traders might read it ad say what a load of crap. some might say thats not a bad trade, so what i am saying to you if you want to teacher you need an old fashioned blackboard for your pupils to see . this is my last post on this as it gets a bit tired ,respectfully E
  • #363,146
  • Feb 12, 2014 6:10pm Feb 12, 2014 6:10pm
Quoting elbert3
{quote} {image} ok this order is short target the 200sma that is about 50 pips lets say i put £20 per pip on its back, would you like this trade , as you see i post an idea traders might read it ad say what a load of crap. some might say thats not a bad trade, so what i am saying to you if you want to teacher you need an old fashioned blackboard for your pupils to see . this is my last post on this as it gets a bit tired ,respectfully E
Target is 50 pips but how far is stop? If it is 50 pips too, that's fine, buts let look at this closely. You will in actuality need to gain about 53 pips for target filled, and only 47 pips for stop loss filled.

A lot of these guys are going for 10-20 pips and all you need to do is simple math to see the disadvantage your at. Plus, if there is a spike against you your stop might double in size, or worse.
  • #363,147
  • Edited 6:24pm Feb 12, 2014 6:12pm | Edited 6:24pm
We are still in the range
To break this range requires fundamental change like IR increase otherwise we will go back 66-63or lower
IR is 1-2years away and until then plenty of swings to make money both Bear and Bull


What is interesting here that one preaches he tried and could not make money and assumes everyone should have similar results.
Logic of this thinking is baffling to me.
So If I can't draw nude figure nobody else can either...

This is from Hedge fund Wizards
Jimmy Balodimas
Jimmy Balodimas breaks all the rules. He sells into uptrends and buys into downtrends. He adds to losers and cuts his winners short. He is a
predominant short in a market that is up the majority of days.1 By any of the standard guidelines for trading success, Balodimas shouldn’t survive in
the markets, let alone thrive. Yet he is one of the most successful traders at First New York Securities, the prop trading firm at which he began his
career 15 years ago, and he has never had a losing year.
I first interviewed Balodimas on February 22, 2011, a day in which the equity markets were down sharply in a selloff that ostensibly was triggered
by the uprising in Libya, which led to a sharp rally in oil prices and market concerns over a disruption in oil supplies. The Libyan upheaval was part
of the domino effect of Mideast unrest that began with the overthrow of the Tunisian dictatorship a month earlier. This down day in the stock market
followed a three-month period in which the price advance in equities had been so unrelenting that neither the S&P 500 nor the Nasdaq index was
able to go more than five days without setting new highs in the ongoing bull market that had begun two years earlier. The current month had been
particularly brutal for shorts, as the market reached new highs almost daily, never taking more than three days to do so. Balodimas had been net
short throughout this move. Watching the succession of near daily highs, Balodimas commented to his trading assistant, “This is like the tech
bubble, only with real stocks.”

Chapter 14
He traded this way from beginning and now a millionaire.Lot more to this you just need to read the book.Not saying you should emulate his style but someone here saying "I tried and could not do it" does not mean it can't be done.
Counter Trading is not new Jesse Livermore, Soros many others best trades were all Shorts and counter trades.
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In trading, you have to be defensive and aggressive at the same time
  • #363,148
  • Edited 6:33pm Feb 12, 2014 6:18pm | Edited 6:33pm
Quoting Davit
We are still in the range To break this range requires fundamental change like IR increase otherwise we will go back 66-63or lower IR is 1-2years away and until then plenty of swings to make money both Bear and Bull What is interesting here that one preaches he tried and could not make money and assumes everyone should have similar results. Logic of this thinking is baffling to me. So If I can't draw nude figure nobody else can either... {image}
What baffles me is a guy trading micro lots telling other people how to trade. Yea, you made 20 pips, after god knows how much risk.....awesome.

Also, I thought I was on your ignore list. Why do you read all my posts?

You have no room to address me as anything other than "'Master" after all the calls you were dead wrong on while I was spot on. Congratulations, EURUSD went down 120 pips, AFTER it went UP 200 pips!!! Remember you were saying it was going to go down AT PRECISELY THE LOW!!! So kindly STFU.
  • #363,149
  • Feb 12, 2014 6:21pm Feb 12, 2014 6:21pm
Quoting Zappa
{quote} And elbert, you took that call I made the other day and got out quickly with a small profit, but if you had stayed in look where it is now. We're talking about the difference between 10-20 pips and 200 pips (and counting). Now what was risked on your part? When you factor in spread, the r/r is way worse taking small profits, there's just not much of a way of getting around that fact.
ok this morning i had a very personal reason to take all my trades off the table or i might of traded nz long i think we should agree to disagree and call it a day my freind my best regards
  • #363,150
  • Feb 12, 2014 6:22pm Feb 12, 2014 6:22pm
Don't really know why I bother to give my opinion since it doesn't really matter, but I am leaning towards shorts simply because we are at the top of the range despite a strong up move

I don't even know anything about the fundamentals right now tbh
  • #363,151
  • Feb 12, 2014 6:27pm Feb 12, 2014 6:27pm
Quoting Davit
but someone here saying "I tried and could not do it" does not mean it can't be done....{image}
Quoting Zappa
{quote} This ain't some theory I am disputing with you, this was tried in earnest for a long time by me. With that said, I am not saying it can not be done.
You really are a moron. I don't think you even deserve a response from me anymore.
  • #363,152
  • Feb 12, 2014 6:34pm Feb 12, 2014 6:34pm
Quoting HunteR23
Don't really know why I bother to give my opinion since it doesn't really matter, but I am leaning towards shorts simply because we are at the top of the range despite a strong up move I don't even know anything about the fundamentals right now tbh
With regards to your last statement, I think you are in good company in this place.
All we are hearing in here is Britains debt, it's policies, it's interest rates etc.
No regard to the USA growing debt, Fed interest rate policies, ballooning trade deficits etc.
It's almost like we are just trading the GBP in here.
Come with me if you want to live....
  • #363,153
  • Feb 12, 2014 6:37pm Feb 12, 2014 6:37pm
“Never argue with a fool. Onlookers may not be able to tell the difference” –Mark Twain
In trading, you have to be defensive and aggressive at the same time
  • #363,154
  • Feb 12, 2014 6:40pm Feb 12, 2014 6:40pm
Quoting Davit
I'm a moron, it's true. {image}
What are you down on your deadly accurate GBPUSD short? 300 pips? Gunna wait to your 15 pips in the green on average so you can close in profit. What an amazing strategy. What happens if this continues higher and higher? Have you no idea of what happens sometimes? Apparently not, and this is why you will ultimately fail with this method. You have got a lot of beginners fooled, but that's it. Everyone else sees right through you.
  • #363,155
  • Feb 12, 2014 6:42pm Feb 12, 2014 6:42pm
Quoting Davit
“Never argue with a fool. Onlookers may not be able to tell the difference” –Mark Twain
This argument is over. You're an idiot, it's settled.
  • #363,156
  • Feb 12, 2014 6:53pm Feb 12, 2014 6:53pm
Quoting Davit
Counter Trading is not new Jesse Livermore, Soros many others best trades were all Shorts and counter trades. {image}

And please let this be THE last time you ever compare yourself to George Soros, lol.

You DO NOT trade like him, lmao!!
  • #363,157
  • Edited 7:46pm Feb 12, 2014 7:25pm | Edited 7:46pm
You guys for clarity sake.Whatever I do and done I never assumed I am the "teacher" and telling others how to trade.

Few severe erroneous comments.I never traded calls with Zappa.He was right shorting U/CHF and I asked him clarification of his thinking.That's all.
If he has posts on this manner please post them up!!(If you are not plain lying post the record of trade calls here)
As far as micro lots.I am smart enough to trade within my account level and this is critical for success for long term.
Went 32-0 so far this month and I can post the record if need be.24 out of 32 trades were individual trades and not "averaged in"
Giving example of other counter traders does not mean I assume I am trading like them only an idiot would come to that conclusion.Example are just that examples.
My average trades are 50-200pips and not 20.This is easy to see because lot of times I post with charts my trades.
Sorry that you had to read outbursts from someone who is clearly emotionally unstable.
Thanks
In trading, you have to be defensive and aggressive at the same time
  • #363,158
  • Feb 12, 2014 7:41pm Feb 12, 2014 7:41pm
Quoting Davit
I never traded calls with Zappa.
That is exactly what happened, and you turned out looking like a fool, as always. Anyone can check post history if they want.

Also, back to Soros for a second. He adds to WINNERS, you add to LOSERS! Got that, loser?

You don't not know shit about how Soros trades with your blanket statement "Oh yeah, that Soros, he's a counter trader too." Do you have any idea how dumb you sound?

Yeah, you made over 50 pips on EURUSD? I seriously doubt that. And even then, what was your risk, 600 pips or more? Do you even know, or you just think you'll always be able to average out a loss until it comes back?

Where's your stop on GBPUSD? If you even have one.

And you wonder why people can't wait to see you fail. Always talking shit. We know what's going to happen with you. Maybe not this week, maybe not even this year. But you'll eventually get blown out with that knucklehead system of yours.
  • #363,159
  • Feb 12, 2014 7:45pm Feb 12, 2014 7:45pm
Quoting Davit
Sorry that you had to read outbursts from someone who is clearly emotionally unstable. Thanks
Yeah, well that's what happens when a dummy starts talking shit about someone and needs to be put in his place. Now why don't you do us both a favor and leave me on ignore list and DON'T READ MY POSTS! I don't want your kind to learn from me.
  • #363,160
  • Feb 12, 2014 8:01pm Feb 12, 2014 8:01pm
Why don't we go by how much we're actually making, Davit?

I know there's guys out there making a lot more than this (and they are probably laughing at both of us, if they're even reading this), but I know you are not. Why don't you post your p/l for your last round of EURUSD trades, since we know your GBPUSD are heavily underwater.
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