23 Responses to “inducing traders to cut their long positions”

1. on 27 Aug 2009 at 2:40 pm1Nazali

   Hi Dr

   Because the drop has lasted over days does that show that they will rise in a big way?

2. on 27 Aug 2009 at 2:43 pm2grow

   Thank you will gbpusd dip some more so?

3. on 27 Aug 2009 at 2:52 pm3Jaf

   I do not understand this bearish feel.As soon as players would rise the market a little the traders can take long positions again.

   Also it seems that the players are buying endlessly for last so many days.Just does not seem right to me.

4. on 27 Aug 2009 at 3:10 pm4Shreedhar

   Well It seems that GBPUSD is finally settling down around 616x,I think its time to go long on cable

5. on 27 Aug 2009 at 3:18 pm5smith

   Dear Doc,

   why is the GBP so weak against other currencies? It is very visible to underperform in the last week.

   regards,
   smith

6. on 27 Aug 2009 at 3:34 pm6su25

   few more thoughts for today:
   why does knowing the REASON for a currency’s weakness or strength become a major concern? does knowing the reason help in making trading decisions?
   if one does not look for reasons when the direction is as expected/forecast, why should one do so when it has gone against expectations/forecast?
   if one looks for reasons, there are plenty, and conflicting too. it will lead to further confusion, panic, greed, fear, etc. trying to reason out price action is futile and distraction from taking meaningful trading decisions.
   what matter ultimately is this - what was the basis on which one entered a trade (trading rules for entry), and is that basis still valid, if yes, continue with the trade, if not, look for a new trade setup. if the trade is executed with proper risk/money management in place - whether it is hedging or stops, trading becomes less stressful and fun.

7. on 27 Aug 2009 at 4:11 pm7smith

   Dear su25,

   I have my own rules and follow them. The Doc’s view helps the big picture and the trading decisons. The weakness was just an interesting issue I do not care about it, that was only a simple question.

8. on 27 Aug 2009 at 4:22 pm8su25

   Dear smith
   have a look at this Tobin tax issue http://www.cnbc.com/id/32578547
   surely it does not affect Gbp, nevertheless an interesting read.

9. on 27 Aug 2009 at 4:28 pm9prince

   hi su25

   Your comments are interesting. & I am also a believer in following up on the premise on which , one has initiated a trade.

   reasoning comes in , when the expected trade doesnt happen. The mind doesnt want to accept , a loss was made on account of a wrong decision. Any reasons provided by all & sundry is then looked up for support.

10. on 27 Aug 2009 at 6:05 pm10shoora

    http://blogs.fxstreet.com/marketreadings/2009/08/11/euro-and-gbp-are-expected-to-gain/#comment-10289

    now an awesome strategy would be to buy every 50 pips from 1.62 to 1.58 to sell around third week of september.

11. on 27 Aug 2009 at 6:29 pm11vinesh

    Genius doc jusy genius

12. on 27 Aug 2009 at 6:31 pm12Roopal

    now Visible rise is seen. Thanks to Dr. to guide us in correct path.

13. on 27 Aug 2009 at 6:48 pm13jlako

    yes dr. respect !

14. on 27 Aug 2009 at 6:53 pm14Orlando

    The Doctor proved right

15. on 27 Aug 2009 at 6:54 pm15mice

    Hi Dr

    you are the best what ever happend sir , i learnt a lot from you , and hedging is the best to secure .
    you can gain both way

    excellent sir

16. on 27 Aug 2009 at 7:13 pm16rockk

    thanks Dr for ur readings,
    but sometimes i dont understand what you mean, like when you say “firm up” does that mean the direction is up or it means the direction will be firm either up or down. pls clarify.
    thx

17. on 27 Aug 2009 at 7:21 pm17Sum

    Guys, did you see that. Yesterday everyone of you was bitching at the doctor.

    You should bitch at the players.

    Do you guys think that the economy of the US and the Euro zones has changed much from 4 hours ago to now?

    Remember, players make the markets go up and down, not the currencies

    Good job doctor. Much apreciate.

    Sum

18. on 27 Aug 2009 at 7:45 pm18p.a.

    hi doc,

    how’s that for a change in reader sentiment?:)

    regards,
    p.a.

19. on 27 Aug 2009 at 8:07 pm19Jimbo

    Lets hope that this rise continues tomorrow. Still a long way to go

20. on 27 Aug 2009 at 8:14 pm20Jenks

    Folks,

    Yes they have risen. However, look at last month end (clearer on H1). 3 days before month end they raised GU from 6346 - 6468 then dropped right down again to 6336, before a quick rise on the last 2 days.

    Not saying it will happen this month end, but perhaps we’ll see some retracement to hit the stops of the longs.

    Jenks.

21. on 28 Aug 2009 at 1:35 am21Roopal

    I dont think they will drop much now. And if you see guys, this year January (26th) they rise 500 pips a day. Day candle is 500 pips long and previous days have red candle for more than that also. So lets see this time if we see such kind of rise or not.Possibility are there.:)

22. on 28 Aug 2009 at 2:37 am22Arun kandyal

    shoora
    realy awesome strategy.

23. on 28 Aug 2009 at 2:58 am23su25

    Now it gets interesting, Gbp, Chf, & Jpy have traded below last week’s lows, while Eur has traded above last week’s high.

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