Ah GEEZ!!! HAVE SOME RESPECT!!! I couldn’t even bring myself to ‘quote’ the image!!! MAKE IT STOP MOMMY!!! MAN that’s the most evil and disgusting thing I’ve ever seen!!! You are ONE SICK PUPPY!!! LOL!!!
As far as this SUPPOSED trade is concerned (which given the figures being bandied about I can only assume is a demo trade with no thought given to risk or management OR one HUGE amount of ‘funny money’ used to ‘fund’ the account: anybody ever thought that maybe this is just a stock market correction (yes: stocks move FOREX NOT the other way around)??? If so: I’d take that ‘guarantee’ down a notch or two unless it’s a DEEP correction for which there’s really no good reason unless another EU country goes ‘t*ts up’ (which is always a possibility of course).
no this is real money…like i said the preverbial house is on the line…and as for risk …the stop is in place…where its meant to be and the profits are rolling…this trade is not for the faint of heart…SINCE THIS MORNING MY MONEY HAS RUN FROM ABOUT 10K DOWN TO OVER 30K UP…as for ‘stock correction’…ha ha…that gave me a giggle (THANKS FOR THAT)…AND YES maybe you would take the guarantee down a notch or two…but thats how you rolll…but as for me i’m taking it UP A NOTCH OR TWO…its gone from GUARANTEED TO ‘DEFINITELY GUARANTEED’…
and remember …keep you eye on the …
Throw up a GU daily chart and draw an upper trend line, you should see it’s a valid trade, risky but still valid with a stop in place… But I wouldn’t bet the house on it, LOL.
One of two things will happen, either the 1.5910-1.5930 resistance area holds or it doesn’t.
If it breaks up through 1.5950 we’re out 100 pips, if 1.5950 holds and this week’s low around 1.5770 gets taken out we could see a few 100 pip move down over the next weeks & months.
there is major resistance going on at around 1.5910 that is a fact…and maybe we could see a spike above that level.
in aug 2010 [B]major support [/B]at around [B]1.53xy range[/B]
dec 2010 [B]major support[/B] at [B]1.53x range[/B]
then pair broke out upwards beyond 1.59X RANGE beginning of feb 2011.
pair broke support at this level beginning of sept 2011. and found support back at …you guessed it 1.53xy in sept/oct 2011
since then its been up and back down to …1.53xy… in january…and currently its finding resistance at 1.595x
reason i love this trade is … its either
currently ranging between 1.565x and 1.595x and will make a break …if this happens likely to break downside …as from my point of view if this is happening there is a nice downward wave formation…SO WE ARE IN THE MONEY.
2.alternatively we got a classic head and shoulders going on which is definitely on the down…bringing us back to support at 1.53xy…SO again WE ARE IN THE MONEY…
3.we are in a new upward trend which is gonna find resistance at 1.60xy and posibly break through …THEN I LOSE…
but looking at the current budget …i still think we are in a poor economy in uk …and hence i think the chances of that happening are slim.(fundamentally speaking) .
…but the market will do as it pleases…and my instinct tells me that it pleases to move in my direction…and it wants to get back to 1.53ish and i sold at 1.5875…so those are the real reasons behind this deal…
and yes there is risk associated…but thats what it is all about…i love the risk…it makes me happy…but not reckless…
plus some of you guys dont really have the stomach to lose decent amounts…and only win big very occasionally…
i fully intend to be losing decent amounts quite regularly…but i will be winning a hell of a lot more than i lose…and that is for sure.
so its not a spin of the wheel.
no more than any other trades you take…in fact probably a lot less than the deals you take…as i have a very good b/s filter which has seen me through many tough business transactions and.i truly believe in this deal.
yes it may break upwards …but i can live with that.can you live with it …when it breaks downwards and in roll 400 points that i have been insisting you take.
if you knew me …yes i joke about a bit and get a bit competitive …but amongst the joking is a person who has a strong instinct for money…and is very selfish and serious about his cash.
anyway im gonna put my trumpet down for a while …have a nice weekend …
yes i heard the budget yesterday…and im in london…we are not happy about it…and everyone in the country not only know tthat the reality is that we are still in recession…in fact i would go as far as saying we are in a depression…the govt is hated at the moment by everyone except the bankers…and the outlook is grim…the govt is swapping its methods of getting cash around…and to be honest we are in a terrible state…the truth of the pudding will be when the european central bank does not up our credit rating…cause these guys really know we are in trouble…on top of that we got the ireland and greece crisis…and will probably be getting dragged back into war with afghanistan …so the only way is down really.
anyone with big money will perform due dilligence and know this…so im still confident that the main players in the world know britain is a bad bet…plus interest rates are staying low for the forseeable future…and if they move up …then your gonna see lots of people losing their homes…most are living off credit cards and these are bottoming out FAST.
Well I’m pleased that you find my stock market analysis so amusing. As always: just aiming to please and entertain. I don’t trade Spot FOREX as most will know (and now you know too). If I were you though I’d keep my eye on the S&P and the Dow and start trailing a stop if you want to clear out of this with SOME profit and still HAVE the house!!! LOL!!!
thanks for the fundamental guidance…been looking at the euro debt crisis unfolding today…which will bring us down more
yes the trailing stop is a good idea (due dilligence), plus i keep an eye on the DOW…but ill watch the S&P from now on.
cheers.
quote …the relative calm that has emerged in the eurozone fiscal situation …has been SHATTERED…
plus germany manufacturing down…and they are the key european nation…its all grim…and the bailed out nations are gonna be charged more for the bailout.
even though usa aint looking too hot…we are in the dirt right up to our eyes.
Don’t go thanking me for ‘fundamental guidance’. I still have a problem SPELLING the word ‘fundamental’ LET ALONE interpreting its meaning or basing trades on it!!! LOL!!! But in all fairness to me: the same can be said for 101% of all the fundamental analysts that appear on Bloomberg TV every few minutes!!! ROFLMAO!!! Actually that’s NOT a joke!!!
I just watch ‘little dots and lines’ is all. Somehow the major indices ‘respect’ such ‘little dots and lines’. I’ll tell you this: the major indices ALSO don’t have a CLUE about what the fundamental analysts are talking about!!! They (the major indices) ALSO don’t seem to ‘get it’!!! LOL!!!
What is your TP on this trade if I may ask??? Just out of curiosity. Well that’s not true. I need to see if I can find a HAPPY Britney Spears video clip for when it’s over. Otherwise you already know what’s coming!!! LOL!!!
Believe it or not though: I REALLY DO hope it goes your way. I’m TOTALLY out of the market and for once in a VERY VERY long time am going to have a weekend TOTALLY AWAY from this (and I DO MEAN that it’s been a VERY VERY long time)!!!
The drivers of price in the FX market are not the same drivers of price in the Dow. The Dow is driven by economic growth, FX is driven in large part by multi-national commerce.
So Dale, why in the world do you think you’re giving creditable advice on the subject of trading FX when you don’t trade it, or even know how to trade FX? Please tell us.
Didn’t you and I have a ‘run in’ on this very same subject once before???
I have GOOD FRIENDS here is all.
Credible advice??? I fail to see how mentioning the possibility of trailing a stop to lock in what appears to be big profits on the table as being BAD advice no matter WHAT market you’re trading. But hey: that’s just me. I’ve watched way too many trades turn from HUGE profits only to get stopped out at a loss the next day.
And not to be argumentative but if you think that the Spot FOREX Market exists in isolation I’m afraid to say you’re sorely mistaken.
Anyway: each to their own. It’s no secret that Spot FOREX has only ever COST me money. That’s common knowledge as I’m sure even you’re well aware of by now. But hey: that’s not to say that it cannot be done. I know it can because I know others who do INDEED make very nice profits trading Spot FOREX. I’m just not one of them. Neither do I really want to be one of them. I’ve found my niche and I’m quite comfortable there thanks.
And for what it’s worth: the only reason I ‘stepped in here’ (at first anyway) was for a bit of fun. It’s Friday. And, well, to be honest, the thread starters ‘enthusiasm’ and ‘gung ho’ approach reminded me very much of myself a few years back and we all know how that turned out. Be humble before the markets (any market). Otherwise they WILL humble you in their very own and very special way. Got a problem with that advice??? Tell someone who cares.
Those are 24/7 Interbank Spot FOREX Rates. When they say they’re not ‘real-time’ they actually mean to ‘Refresh’ the screen but they are 24/7 LIVE rates. I know because I used to use the site as an ‘early warning system’ as to whether I should start drinking early on a Sunday evening to celebrate or drown my sorrows (assuming that I had open Spot FOREX positions at the time)!!! LOL!!!
You can run but you cannot hide from this business. It’s ALWAYS there. ACTIVE!!! (Well: Spot FOREX anyway). So that way you can see how happy or sad you’re GOING to be before the open on Sunday night on GBP/USD!!! LOL!!!
hey thanks for that …the interbank rates are extremely useful…not only to see what is really happening…but to see how much my brokers are ripping me off.
FX is not about one trade, is about being consistent.
Now you are guessing a H&S will form and even if it forms, it looks really choppy.
You are right, there are some layers of resistance but not at 1.5868 if you are going for a swing trade. Resistance start at 1.5935 just above your SL.
From my point of view, shorting @ 1.5868 is kind of risky.
At support, the area that starts at 1.5768 has been tested just once, making it a good place to go long unless a sharp move down.
FX is not about one trade, is about being consistent.
