Target reached (1.6650), +50 pips. Australian CPI in two hours (4:45 PM EST), let's see what the GBP/NZD is up to. Watch out, GBP/NZD is THE wildest currency pair known to mankind, proceed with caution...

Cable Update (GBPUSD)

The target is 50 pips and the stop will be moved to break-even if GBP/AUD moves 25 pips in my favor. Have a good day trading folks, off to bed now. Over and out.

Cable Update (GBPUSD)

Bought GBP/AUD at 1.6600, 35 pip stop.

Cable Update (GBPUSD)

Let's just hope that it's not going to be another totally crappy and untradable day, with weird up and down movements and huge reversals that appear suddenly out of nowhere...

Cable Update (GBPUSD)

Yep, that 1.2540 resistance level has now been rejected at least 5 times. If it breaks the cable will shoot for the moon...

Cable Update (GBPUSD)

Never trade just because you are bored, it's usually a recipe for disaster, because you are now adding emotions to your trading. And when you add emotions you stop thinking clearly. Then all bad things start to happen when the market moves against ...

Cable Update (GBPUSD)

You are quite welcome Sir, the best of luck with that Yen trade.

Cable Update (GBPUSD)

Uh-uh, 4 Dojis in a row on the 1h chart, at resistance level. Something big is brewing...

Cable Update (GBPUSD)

Not sure if this British Pound thread is the right place to post Yen related comments, Ali, with all due respect to your expertise. I believe you meant to post here : url

Cable Update (GBPUSD)

If you still want to trade the GBP/NZD wait for (or initiate your position before) the New-Zealand CPI report at 4:45 PM (EST) today. Adrenaline rush guaranteed !!!

Cable Update (GBPUSD)

This is getting absurd by the minute. On average, the stock market returns about 10% on investment per year. That means that, overall, disciplined buy and hold stock holders are getting richer and richer every year, even if some stocks like Enron ...

Most traders fail because of no discipline!

The stock market is not a zero sum game, due to its never ending upside bias. It creates wealth for all (meaning we all get richer), as long as the economy continues to grow and the inflation remains stable and low.

Most traders fail because of no discipline!

If trading was about understanding economics and politics, economics and political science teachers would all be billionaires by now. Please stop talking nonsense and go easy with the insults.

Most traders fail because of no discipline!

I am totally with you on that one. It is impossible to trade with discipline without very clear trading rules and very specific entry/stop/exit points.

Most traders fail because of no discipline!

GBP/NZD is a very wild beast Out GBP/AUD at 1.6600, 15 pip loss (10 + 5). Possible long re-entry later, there is still some upside potential on this pair.

Cable Update (GBPUSD)

What some guy is saying is not the issue here! Hedgers DO lose money in the Futures/Forex Markets, end of story. Yes they get it back in the cash market but that's not point. The point is when the hedger loses money (in the Futures/FX market), that ...

Most traders fail because of no discipline!

Buying more GBP/AUD at 1.6605, same stop.

Cable Update (GBPUSD)

You obviously have no idea how hedging works. Here is a website that explains the hedging process with a simple example: url Read and reread the part that says: With 100 contracts covering a total of 500,000 bushels of wheat, the total loss [for ...

Most traders fail because of no discipline!

Again, I will repeat the (very simple) question: When you win $1000 in the Forex or Futures market, where does the money come from? Who is paying you?

Most traders fail because of no discipline!

Bought GBP/AUD again at 1.6610, 35 pip stop. Show me the money one more time.

Cable Update (GBPUSD)