Dont take it too hard - this is the name of the forex game - i have been trading for almost 7 years now and thankfully plan my trade and trade my plan. I read the posts here for fun's sake and to see other's opinions - BUT i never take a trade on ...

Cable Update (GBPUSD)

The only number which came out worse than expected was the Trade Balance. Fundamentally a negative trade balance has a positive aspect to it as well .. it does mean that consumer spending is still high. This will cause further inflation worries for ...

Cable Update (GBPUSD)

Dear Wizard, Thanks - and yes i did win the pips on this one. All good. However would like to add you to the bussy list and hear some more ideas from you where we can see each others perspective and learn from it. I do see that AUD is now at an all ...

Trading like a market wizard

Hi Wizard - i am still long on this and have added onto my position when it did retrace a bit - current positions on AUD/USD: LONG: Trade 1 - 9th March - 4 Lots @ 0.7762 - Target 0.7920 (Revised) - Stop Break Even Trade 2 - 14th March - 4 lots @ ...

Trading like a market wizard

Its Possible - All you need is Discipline — Its possible and we can all do it. I started trading 3 years back with $5,000. As of today my account balance is $69,000. I take less than 10 trades a month, most of them being swing trades and keep ...

for Those who found success in forex>>

Hi Wizard I think you are looking at it from a very technical analysis perspective. I am seeing techs as well as fundamentals. I guess this is why we are seeing the same chart in different ways. So far it seems i am winning the pips. However i ...

Trading like a market wizard

I am going Opposite — wizard - this morning i took a long on the AUD. Just like you, i have been trading for about 6 years now (first 3 years were paper trades only). Have a good win loss ratio and i am generally a swing trader with positions ...

Trading like a market wizard

Its Possible - All you need is Discipline — Guys, Its possible and we can all do it. I started trading 3 years back with $5,000. As of today my account balance is $69,000. I take less than 10 trades a month, most of them being swing trades and ...

My Journey to a $1,000,000

Should stall and then go back up — In my opinion - looking at a 4Hr and Daily chart - for the near - long term the downside should be capped as there is a broad USD sell-off in place. I have personally entered long at 1.9550 and see it going ...

Cable Update (GBPUSD)

Personally NO i dont see cable dropping if US news is bad - if bad Cable should go back to 9500 - 9520 Girish

Cable Update (GBPUSD)

Absolutely 100% i agree with you - Trading the news is a sure shot way of losing all your money in the long run. But you can still keep fundamentals into perspective before a news release and take positions accordingly. For example - if fundamentals ...

Cable Update (GBPUSD)

There is little reason for the trade balance to come out bad: 1 - Most of december the dollar was weak - so exporters in USA benefitted 2 - Crude prices were not very high 3 - Oil imports were lesser than forecasted because of a milder winter till ...

Cable Update (GBPUSD)

Zarul - i am both a day trader as well as a swing trader. In my experience - one cannot day trade on Fundamentals. And again in my experience swing trades pay much more than day trades (taking into account lose win ratios). Regards, Girish

Cable Update (GBPUSD)

I agree that the 618 fib was important as well - BUT a fib level does not give you a 100 pip run. Looking at all macro issues (which i posted and thought were important) meant a bigger run on the Short compared to the long and clearly everything ...

Cable Update (GBPUSD)

OK 70 pips plus and counting - will close as soon as retracement comes in. Explanation: - I never deal on short time frames like 10 min charts - i always take 1 hr and daily charts - and any news even i analyse with perspective of what has happened ...

Cable Update (GBPUSD)

Taking a short now at 9502 - SL - 20 pips - No TP (will decide based on news). If this works as a profitable trade i will explain my reasons for doing this - if its a loss - then no point bothering you guys. Girish

Cable Update (GBPUSD)

FXStreet and a number of others use rates provided by netdania's chart station - www.netdania.com - i have used net dania for a long time for Gold and Silver charts - They have a history of giving incorrect spikes which obviously is showing on all ...

Daily Cable Analysis

i wouldnt want to move into eur/usd just yet - if trade balance is better than expected - last nights EUR/GBP could start falling and with a weak EUR/JPY - EUR/USD will be bound to go down. Rather trade cable than eur at the moment Girish

Cable Update (GBPUSD)

Look at the tick, 1, 5, 10 min charts - not much momentum left on the downside - i am talking a quick 15 pip scalp to go long as im sure there would be pre-emptive buyers before the trade balance report. going long on 1.9497 - wish me luck Girish

Cable Update (GBPUSD)

Ideas for Trade Balance — Considering so much volatility in the cable - the Trade Balance for december should give 50-70 pips. Lets look at it fundamentally - The pound was not very strong in december - However the UK manufacturing index was ...

Cable Update (GBPUSD)