Thread: Discuss the GBP/USD with a DailyFX Analyst

Originally Posted by 2be

Hi fxvalor,
JohnG also said that some will make it, and others (IMHO the overhwelming majority) will not. I think John is right, why?, you have to trade your own system and strategy. JohnG, cmellon and 4xic2ez has done great amount of work and has kindly shared it on this thread. Some will use it as a positive resourse and work on adopting the given counts into the overall strategy, and others will ask the basic questions for ever and be nervous because the given point came an hour later or to early. Please do not take it pesonally, but your post indicats some fundamental gaps in approaching trading which usually ends in confusion and disorientatrion, when loosing the trading capial becames an inevitable experience. (actually, the capital is never lost, it just changes the owner as the disciplined and prudent students of the market pick up the offerings made by the for ever hopeful but lacking in judgement participants) You mention "trent" without the TF (Time Frame), that is like saying that one would like to fly, fly what?... kite? or helicopter? Similarly, Delta is a great assistance, but one needs to be aware of the different TFs and the way the counts are done.
Trading is a great adventure of participating in the market/s, but unlike the good grandma, the markets will extract the last penny from you if you allow it to happen and will not share a single tear for you. There is no social care and "housing benifit" in the market. One is either right or not with instant results plainly visible. Many cannot cope with such honesty and therefore will never make it, creating multilevelled excuses. In the west we have worked long and hard in creating a system that in many cases excuses and often even rewards failure, and by doing so we are guilty by allowing many good people to fall short of reaching their potentials. Market operates differently and the anaware and ill-disciplined are squared very quickly.
I do not think that money is all important and the materialistic goods is all that counts, not at all. What I am trying to say is that trading demands good preparation, strategy and discipline.
Please do not take it personal, but I am tired of explaning the basics and of feeling sorry for the participants who go into the market to get a close shave without a shaving gell (it is usually very painful). Neither I am saying that I know it all. I do enjoy studying the markets in my limited way and trading.
The above is also applicable to myself if and when I am tempted to interact with the market without the necessary preparation which forms an important part of my own trading strategy.
I wish you and others many good trades and establishing good trading habits,
2be

I'm not offended. I'm trying to learn .. that's why I'm asking questions and asking for resources where I can study more on my own. I apologize if some of my questions were simplistic or represent fundamental gaps. I admit readily that my trading strategies have had gaps. That's why I'm on the forum, hoping to learn from those of you who may have at one time been where I am.

I appreciate your straightforwardness and will be more careful about the questions that I ask.

Here's the 16 week solution for the week of Nov 2. It is #13 of the 16 week cycle.

Here is what seems to be going on with the 16 week. The 1 low is a little late, then a minor move to the 2 high then sharply down the rest of this week.

based on 4hr chart fib levels and trendlines

have entered gbp/usd long @ 5840, sl 5790, limit 6000

plan:

-will not sell a break of 5800
-may extend limit to 6500 based on price action
-will not extend stop loss at all right now

*this trade may be dead by the time i post this, but my lines tell me it is worth a shot*

good luck to all!

Originally Posted by fxvalor

I'm not offended. I'm trying to learn .. that's why I'm asking questions and asking for resources where I can study more on my own. I apologize if some of my questions were simplistic or represent fundamental gaps. I admit readily that my trading strategies have had gaps. That's why I'm on the forum, hoping to learn from those of you who may have at one time been where I am.

I appreciate your straightforwardness and will be more careful about the questions that I ask.

FX Valor, The harder it is at the begining; The easier it will be at the end. I agree with most of what 2Be said.. If you really want to learn to "Trade" You need to learn what "Traders Watch".. Watch the "Break Out" trading video first. If you have questions.. You can email me. or PM me.

VCM Videos > Free Online Seminars

DJ.

"Find a simple strategy and do it over & over & over again"

STD shows a drop from a high point that comes early around Nov 3 14:45 (GMT 0) towards a low point on Nov 4 06:15 (GMT 0) and then goes up. I think it may come early since the previous point came around 2 hours earlier...

Originally Posted by langnao

STD shows a drop from a high point that comes early around Nov 3 14:45 (GMT 0) towards a low point on Nov 4 06:15 (GMT 0) and then goes up. I think it may come early since the previous point came around 2 hours earlier...

cant get in to chat ..feel like my life has come to an end lol ))

Originally Posted by FX Newb

cant get in to chat ..feel like my life has come to an end lol ))

me neither-- what to do..

Me neither!!

Originally Posted by DXByyz

me neither-- what to do..

im still short lol

Originally Posted by FX Newb

cant get in to chat ..feel like my life has come to an end lol ))

Moi aussi,and I don't even post ha ha

Ha ha, no wonder got chopped off.

Originally Posted by Wondering888

Ha ha, no wonder got chopped off.

Anybody know what's up with it or got any good conspiracy theories

we need a backup chat room. Any ideas??

Originally Posted by nrcpma

we need a backup chat room. Any ideas??

Try this?

ChatMaker.net - Make your own chat room! - #28 Day