Oh yes, study its reactions after a news report and you will notice the same thing. Unless of course it is a Bank of Japan intervention or some other major events like a tsunami, earthquake or nuclear incident. And in that case just get out of the ...

Cable Update (GBPUSD)

The problem with the Yen is that it almost never reacts immediately to a news report. It moves up or down but only 15 min later or more. Go figure why.

Cable Update (GBPUSD)

Let's see.

Cable Update (GBPUSD)

Bought GBP/JPY 144.30, 40 pip stop.

Cable Update (GBPUSD)

Rectangle on the GBP/JPY (5min). Breakout coming up...

Cable Update (GBPUSD)

You alright, Elbert3 ?

Cable Update (GBPUSD)

Name just one economics teacher who quit his boring low paying job to become a billionaire trading the Forex, the Futures or the stock market, using his vast knowledge of economics. Seriously.

Most traders fail because of no discipline!

No, he THINKS they are useless because he still have not found a way to profit from price action, that's different. It's like saying "I searched a lot and could not find a goldmine so goldmines do not exist, and looking for them is useless".

Most traders fail because of no discipline!

What ?? You can make an excellent living with backtested trading systems that use pullbacks and pullbacks only. THAT gives you an edge. WHO CARES? Trading is NOT about knowing WHY this market or that marked moved that way, but to predict - with a ...

Most traders fail because of no discipline!

Sure, but I never take anything for granted, this is why it is best to be prepared for ANY possible scenario and counter-scenario. In trading, never sleep at the wheel and assume nothing will happen.

Cable Update (GBPUSD)

Japanese CPI in less than 90 minutes, GBP/JPY could go higher than 114.50.

Cable Update (GBPUSD)

No I did not touch GBP/NZD, it was totally untradable today. I mean seriously, who can trade this crap?

Cable Update (GBPUSD)

You must be joking, right? So how do you trade then, with a crystal ball perhaps?

Most traders fail because of no discipline!

Minus 30 pips. No problem, I will make you pay later GBP/JPY. Plus 100% interest.

Cable Update (GBPUSD)

Short GBP/JPY at 143.80, 30 pip stop.

Cable Update (GBPUSD)

Out at 143.81, +1 pip. Total -15 pips (-16 + 1).

Cable Update (GBPUSD)

Placing a stop buy order on the GBP/JPY at 143.80, 30 pip stop, just in case.

Cable Update (GBPUSD)

Testing the neckline, eh?

Cable Update (GBPUSD)

Looking for at least 50 pips. Let's see if this mule will give it to me.

Cable Update (GBPUSD)

Head and Shoulders on the 1-min. Come on, break it you fool.

Cable Update (GBPUSD)