Forex Day Trader's Thread

SSINGH said:
been trading about 2 years....

so where is cable going now?
Click to expand...

mate, doesn't seem to me that you been trading 2 years. With regards to cable, why don't you have a think about it yourself. Everyone else in this forum puts something in, their own ideas and thoughts. All you seem to do is try profiting of others ideas. If you can not even figure out why sterling rallied today, I can bet good money that you have not been profitable over the past two years. I apologise for being a bit harsh, but it is very annoying
 
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* About SSINGH

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tripleogstar said:
mate, doesn't seem to me that you been trading 2 years. With regards to cable, why don't you have a think about it yourself. Everyone else in this forum puts something in, their own ideas and thoughts. All you seem to do is try profiting of others ideas. If you can not even figure out why sterling rallied today, I can bet good money that you have not been profitable over the past two years. I apologise for being a bit harsh, but it is very annoying
Click to expand...

Mate....we are all here to discuss and get something out of this forum....if you're saying that you are here as a charitable donation...then thats a lie. We are all trying to profit from the market....different ideas generate different results....
In respect to cable....why don't you read back a week in this thread and you'll see my ideas. FYI, I've been long since 14100, to add to this I was short when cable was dropping while others in this thread were doing the complete opposite. My question was and is still legitimate and genuine buddy. I may only have been trading 2 years....you are making assumptions that I have no real Idea.....You have no Idea who I am, what my credential suggest and what my background is....I apologize in advance for my firm, harsh and response to your derogatory reply...but your reply was very annoying.....If you don't know the answer to my question....then please say that you don't know....you say that you can bet good money that I have not been profitable over the last 2 years....lol....to you my friend what sum of money is 'GOOD MONEY'???.....
 
nothing personal,

but a lot of people think news does make the trends.. they come out in the markets without A PLAN
they will panic in and out after the news has come out.

lots of times, you see in a bear market when the news is bullish, the price will react bearish

in a bull market ofcourse the opposite.
 
Just for the record, I do know why sterling rallied today and still is. Traders believe the interest rate cycle has reached the bottom and think the next rate decision will be a hold. All the bad fundamental piece of data is priced into sterling and sentiment has changed around this currency. Long sterling positions have increased by over 3000 contracts as I have mentioned in an earlier message. The reason why I was frustrated was that you get people who just follow the economic theory and think it is correct. You were totally disregarding the psychological aspect and for someone with 2 years experience I thought you would have picked up this quality. Perhaps my response was harsh, but I would be less frustrated if you wrote what you think the reason is for sterling rallying and then asking for others opinion. Cut in interest rates does not necessarily mean a fall in the currency in question.
 
why can gaps be importantant indicators?...

they tend to signal the presence of third wave price action..

i dont want to scare anyone out of stocks, but we could be in a THIRD wave decline..

actually this could be the third wave of Wave V down.., third waves are the waves where prices travel the most in little time

enjoy, ridderrrrr
 
Wow.. that event looked pretty cheesy.. If cable can get over this 61.8 fibo at 1.466 it will get legs..

I'm sticking with Ninja until further notice.. Look at the 4hr charts and see how many times you could have played the range without getting stopped out a single time and then look at Cable and Euro's sorry asses.. I'd rather die than trade Euro and Cable until it finds a direction..

SSINGH, no one on this thread is here to profit from other traders.. I chase those who would seek to do that off pretty quickly. We're here to talk shop, ask questions, brag and whine.. Trip assumed you were a new trader because of your horrible trade setup with Cable at the beginning of the week which turned out to be a positive trade out of pure luck.. You accepted 300 pips of drawdown, you asked the advice of strangers on what to do with your trade, doubled-down on a losing trade and placed your stop loss ahead of the resistance at a meaningless spot.. Also, the way interest rates affect currencies is really basic knowledge.
 
tripleogstar said:
time to long some treasuries and bunds.
Click to expand...

treasury bonds is in the late stage of its decline..

a rise above 1.2826 signals the low has put in..

before that, we could fall a bit further.. admittedly that will not be very likely if stocks continue to get heineked
 
my long sterling is making me some good money, the short euro trade eating into my profits however. I still believe this euro will tank so will hold my position.
 
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