Hi David, welcome to BP and welcome to Mack’s thread (he’s probably out at the chippy so I’ll act as his deputy dog if I may).
It is good to see people of a ‘certain age’ (like moi) get involved, these young’uns need our stabilizing influence
I actually clicked into the forum for a different reason, I’m not into politics, economics is my thing, has been for some years.
I just opened my daily newspaper, the “Daily Mirror”, glanced through all the usual stuff, I was eating a beautiful meal cooked by my beautiful wife (I know it’s bad manners, but after 40 odd years we allow each other little indiscretions).
Horror and disgust on page 8. Now I know exactly why Mack gets revved up when I post links that say ’ you never had it so good.’
I will merely repeat the headline, one written, not by a journalist, but by a man for whom I have great respect, a certain Dr Rowan Williams: " Food bank users are not scroungers and this is not a hiccup … this is a serious crisis".
I will add a little piece from Dr Williams: " In many ways Cambridge is a prosperous town. If the problem is so big here, and it is, that shines a spotlight on how severe it must be in other parts of the country."
Thank you Mack, sometimes we miss the bigger picture.
hello peterma and thanks for the nice reply. i look forward to getting on here and asking some questions to get better at this stuff as quick as i can. i like economics too. i am a retired mechanical engineer. i love working with numbers and i always love challenges. i have more time to do things i want to do now and i am still quite competitive so trading forex is kinda right up my ally. i really am a writer and a fingerstyle guitarist. i loved the beatles and still write in their style. i have a home recording studio, small but it works. so i spend my time teaching, playing guitar and hopefully to become a decent forex trader. thanks again for the reply and will chat with you soon. good luck with your trading. david w.
Cable is pretty tricky at the moment . wait and see would be my move …!!
[B]Normally i trade i from the lower timeframes , trying to spot areas where sellers and buyers have positioned themselves , ,
Based on the reaction of the areas I will take my decisions , where I position myself so that if I’m wrong stuff so I maneuver myself into a small profit, break even at worst a small loss …
[/B]
First I’d studied weekly chart
That shows a breakout failure of 168 , the interesting how powerful Candel move up to 16800 …
The other interesting thing is the price closed before the weekend … will that level broken and go down to the next level or will it go sideways before attempting to move to 168 and then 170 ?
Daily Chart …
*
Day map shows clearly that it is bear market , only a PB down to 16600 !!
Or it will break and the price move down the channel where you get a lot of turbulence in both directions.
1 hour chart shows that there is developed a declining channel price will break out of it or follow it . ! !
*Very often go price as it has done to the left of the chart …
Normally, I spent 5 min entry maps round these interesting areas as well as been but shows strong price trend tends downwards then you have to play up with what is observed and only take bear entries
…
powerful energy of the price down movement wild often show how sure the market is
or you get a quiet gentle price slope down !!
Tells how careful one should be in countertrade to north …
Yes its strange, but its only because most of us when we start think:
Trading is easy
No real strategy
No discipline to stick with the plan
No risk management
expecting that the market always behaves the same
Wanting to get to much money too quick
Its like if everyone was able to go to space, most people would fail as they would make mistakes.
The biggest thing I would have done first is to work with an experienced trader one to one or in a trading group like mine, where professional as successful traders we give one to one support, guiding you through these common rookie mistakes.
Also just like my trading group and others we offer trade signals for you to take successful trades and learn along the way.
This above statement was not an attempt of solicitation just what I would have joined if I could start again.
You cannot expect to be an expert trader after reading a fee forum posts and placing a few trades on a demo account.
