trendie
Legendary member
- Messages
- 6,875
- Likes
- 1,433
you mean the majority are always wrong?
well, as long as the signals say short, then stay short.
but dont switch to long until your system rules say so.
Its only a problem when we ignore our rules and insist its going to "turn and go our way", and hold onto increasingly bad trades.
well, as long as the signals say short, then stay short.
but dont switch to long until your system rules say so.
Its only a problem when we ignore our rules and insist its going to "turn and go our way", and hold onto increasingly bad trades.
rav700
Senior member
- Messages
- 2,170
- Likes
- 71
trendie said:
I agree with you trendie.......................I posted my techincal analysis on the curency board and as you can see I said that we could go short in the 20-50 region which I have done....
I am short at 9019 and am waiting for the 8950 lets see how I can this get this wrong.....but saying that with NFP Coming out bogus god knows what report is left that has been ripped and manipulated to bits......
Best of luck
For now I am moving my stop to break even :cheesy:
The short signal on cable was triggered across most timeframes last Wednesday, price action since then has just been noise imo. What I am failing to understand is how come the pros and retailers are in sync in terms of $ bias and who is taking the opposing stance? Eur/GBP also showing signs of strength which will push £ even lower I feel.
This short was bordering on 'easy' or should i say 'highly probable' - Visually and Technically, I even took a 9120 sell off my vacuum level last week twice the stake and in turn across 6 other fx pairs. ( hope that answers your question Priceman).
Must be $ bears' lucky week but I am still cautious and very sceptical. So much so that I am tempted to fade the shorts at a vacuum.....will see.
This short was bordering on 'easy' or should i say 'highly probable' - Visually and Technically, I even took a 9120 sell off my vacuum level last week twice the stake and in turn across 6 other fx pairs. ( hope that answers your question Priceman).
Must be $ bears' lucky week but I am still cautious and very sceptical. So much so that I am tempted to fade the shorts at a vacuum.....will see.
Doctor Leo
Active member
- Messages
- 107
- Likes
- 7
I expect 19200 this week. Though of course it doesn't mean I won't change my expectations upon a new signal coming.
counter_violent
Legendary member
- Messages
- 12,638
- Likes
- 3,780
smbtnt said:
There will have been some i'm sure , you know, the ones that like to catch falling knives
FXSCALPER2
Established member
- Messages
- 964
- Likes
- 281
Dailyfx were saying 80% of the GBPUSD orders were short just before the massive rise. They published the info before the massive rally began. How is it possible, 80% people do exactly the same thing without first talking to each other? Amazing, really.
counter_violent said:There will have been some i'm sure , you know, the ones that like to catch falling knives
As a card carrying Lazy Trader I don't trade fx much but would wait for a sniff of 2.00 - to "consider" bearish trades....with only a few points to go I'll wait for slippage at that level ..........if I don't get enough I'll fold my tent and find another market......... longs up here without a pbk seem a bit risky - but what do I know ?
HS (aka Lazy Trader)
HS (aka Lazy Trader)
TWI
Senior member
- Messages
- 2,557
- Likes
- 267
This has not really been about GBP it has been about USD against everything else and is just and acceleration of a trend that has been developing since end Q1. It will continue too, fundamentally US is economy is in a trrie state. There will of course be many attempts to talk up dollar but this will just provide good selling opportunities. In long run expect that best will be to sell against Asia.
tradewinds
Member
- Messages
- 67
- Likes
- 6
I dont often post on this board, cause I m ve been tirelessly developing my own system, evaluating and testing.
The other reason I dont is that a great deal of the threads are discussing the daily movements, and the significance of economic reports.
ANyway I ve been long since the 16/11 and I am still long as my system hasnt give me a short signal yet. During that time I havent once looked at any economic report as I think they are not beneficial to my trading system. Also I find I m not too worried about the intraday movements(unless they happen to change the signal from long to short, but I usually have a good idea the likelyhood of that at the start of the day), so I dont screen watch.
Using the same system I ve also been long the EURO/CAD since the 8/11, and have caught all of the move from 1.4406 all the way up to 1.5200 approx, still long here also.
The other reason I dont is that a great deal of the threads are discussing the daily movements, and the significance of economic reports.
ANyway I ve been long since the 16/11 and I am still long as my system hasnt give me a short signal yet. During that time I havent once looked at any economic report as I think they are not beneficial to my trading system. Also I find I m not too worried about the intraday movements(unless they happen to change the signal from long to short, but I usually have a good idea the likelyhood of that at the start of the day), so I dont screen watch.
Using the same system I ve also been long the EURO/CAD since the 8/11, and have caught all of the move from 1.4406 all the way up to 1.5200 approx, still long here also.
FXSCALPER2
Established member
- Messages
- 964
- Likes
- 281
Gloating is the surest sign of an amateur. You caught one move. So what? If you don't normally post, it is in dubious taste to post just to tell us how good you are. Here is a bet: you will lose ultimately, because you are too proud of your one trade and are telling the world about it. If you think fundamentals can be ignored in FOREX, you are kidding yourself.
Good luck because you are gonna need it.
Good luck because you are gonna need it.
tradewinds said:
tradewinds
Member
- Messages
- 67
- Likes
- 6
FXSCALPER2 said:
Thats another reason I dont post more often. However, how in anyway could you possibly know what way I trade. You dont know anything about me.
I also give you other reasons I dont come on here often.
1)I dont come on here because I dont want to read about conflicting opinions. All I need is to execute my own system. I dont care what anyone does on here. Do you really think that all decent traders are always on here? Is that not a reason?
2) I do other things. When I m not doing trading related stuff I dont feel like coming on here to type.
3) Have you been to Bangkok. Well I stay there, and the thai girls and the nightlife are fantastic. When I m not busy I go out and have agreat time. Why would I come on and talk about trading on my time off? I need to relax. Good enough reason?
I ve give 3 reasons of the top of my head, but you wrongly assumed its that i came on to gloat.
Why would you say that? I was merely stating my position.
I had observed that in this thread lots of people were awaiting daily fundamental data, but my system isnt necessarily effected by the intraday movements caused by daily data release. I say not necessarily because maybe the data may cause the price to move in a direction which may cause a signal within the parameters of my system. If the price moves that way then why do I need to know the fundamental that caused it. I need to act on the price, not what the data may or may not mean. Whatever effect the data has I will see it in the price and I will act accordingly. Therefore I dont need the fundamentals.
Maybe my system isnt as short term as yours. The intraday movements as i ve already said dont necessarily effect my system. Are you a shorter term trader then of course you may need to look at funadamentals. That is fact for me. Now if you can so openly make an assumption before knowing none of the facts then..
Now, I m in no way saying you can t trade without fundamentals. Maybe your system permits you to use the fundamentals, mine doesn't. My system isnt worng and yours isnt wrong. Just conflicting. Not wrong, not right.
I ll ask this. Is there not many successful traders who use lots of different ways and means? They made there way successful because they observed markets and were able to see what they saw and translate it into rules.
Now you want to bet that I ll lose in the end? I m not really trading against you so I ll bet against the markets, and try my best.
I ll postulate that you have some issues within yourself. Maybe your a little too competitive, in wanting to bet against me. What good will that do you apart from serve some part of you that maybe has to be right.
Bet against the markets...
