Blog - 2007-04-23

Location: Blogs My journey with GBPUSD Chat Room Archive
Posted by: BrianTran	4/23/2007 1:22 PM
1:38 PM: Pat: Hello 1:44 PM: Pat: Hi 1:47 PM: Pat: Welcome Brian... ******** The messages above were sent before you arrived. ****** To send a private message, type: <nameOfUser> your message here ForexPlane.com Editor: hi pat ForexPlane.com Editor: how are you today? Pat: Hello Brian...I am doing great thank you ForexPlane.com Editor: have you chatted with users today? Pat: How are you doing? What's the latest ? Pat: No I did not come across any users who are ready to chat Check out our sponsored link: ForexPlane.com Editor: ah ForexPlane.com Editor: it looks like the GBPUSD ForexPlane.com Editor: went further down ForexPlane.com Editor: and hit my stop ForexPlane.com Editor: and reversed up Check out our sponsored link: null ForexPlane.com Editor: i was expecting it to stay about the lowest area ForexPlane.com Editor: but didn't ForexPlane.com Editor: so have to wait for a clear breakout here ****** at 1:54 PM Pat left the room ForexPlane.com Editor: seems to be following EURUSD ForexPlane.com Editor: this pair seems weaker than GBPUSD ForexPlane.com Editor: might be following in sympathy ForexPlane.com Editor: if it breaks support here, we may see another selling Check out our sponsored link: ******** at 1:55 PM Pat joined the room ForexPlane.com Editor: until 1.9900 area ForexPlane.com Editor: but until then, have to wait ForexPlane.com Editor: but i'm watching the GBPUSD closely in lower timeframe ForexPlane.com Editor: for a possible break ForexPlane.com Editor: if i plan to short Pat: oh Ok..I see ForexPlane.com Editor: it'll be a very short trade ForexPlane.com Editor: since it's a counter-trend trade Pat: How may weeks it might take for USD to become stronger Check out our sponsored link: null ForexPlane.com Editor: that i can't say ForexPlane.com Editor: markets move when it's ready ForexPlane.com Editor: timing is hard to predict ForexPlane.com Editor: it's easier to predict price than time ForexPlane.com Editor: this is the reason why trading is so difficult ForexPlane.com Editor: getting in and out at the place and time is tough Pat: I agree with you Check out our sponsored link: ForexPlane.com Editor: but GBPUSD is showing some support in this area ForexPlane.com Editor: i may take a small long position here ForexPlane.com Editor: but not until higher high is made Pat: ok I see ForexPlane.com Editor: seems london opened with a small panic ForexPlane.com Editor: and went right into the low ForexPlane.com Editor: it's now just trying to find some buyers to take it back up ForexPlane.com Editor: we'll see how it goes now that NY just opened Check out our sponsored link: null ForexPlane.com Editor: no news today for US ForexPlane.com Editor: it may just linger here ForexPlane.com Editor: i don't see reasons for market to move now since there are no catalyst to take up or down Pat: no news is good news for trading or it has no effect on market? ForexPlane.com Editor: plus, everyone is uncertain now that it's made a new high ForexPlane.com Editor: they're looking at each other and wait for the next person to make the move ForexPlane.com Editor: yes ForexPlane.com Editor: technically yes ForexPlane.com Editor: if you use purely technical analysis ForexPlane.com Editor: without news ForexPlane.com Editor: it would make very nice trading Check out our sponsored link: ForexPlane.com Editor: without the price shocks Pat: Yes I too agree ForexPlane.com Editor: which could take it the other way ForexPlane.com Editor: but it's part of trading ForexPlane.com Editor: many people just go flat before news ForexPlane.com Editor: wait then reenter again ForexPlane.com Editor: but it depends if the news has caused the change in market direction ForexPlane.com Editor: or just a minor move and not impacting the current direction ForexPlane.com Editor: or just a minor move and not impacting the current direction ForexPlane.com Editor: lots of time ForexPlane.com Editor: when i'm in a trade Pat: Ok..From how many years are you into Forex Trading ? Check out our sponsored link: null ForexPlane.com Editor: i usually leave my position in ForexPlane.com Editor: or tighten the stops ForexPlane.com Editor: just in case the news is a surprise ForexPlane.com Editor: except for interest rate news ForexPlane.com Editor: these shouldn't force you to exit a position because of news ForexPlane.com Editor: forex 2 yrs ForexPlane.com Editor: trading total 6 yrs Pat: oh ok - 2 years...and you have gained lot of experience and you are an expert Pat: I really wonder about the amount of knowledge you posses.. ForexPlane.com Editor: experts are someone who's been at it 15-20 yrs ForexPlane.com Editor: i'm still learning Check out our sponsored link: ForexPlane.com Editor: i know the basics and intermediate ForexPlane.com Editor: but not at all an expert ForexPlane.com Editor: these are for insitutions ForexPlane.com Editor: where they trade large positions Pat: ok..but for people like me you look at one Pat: look as one ( expert) ForexPlane.com Editor: they are experts, i trade big enough size to do ok ForexPlane.com Editor: i would say someone with more experience ForexPlane.com Editor: but not an expert ForexPlane.com Editor: i don't like that word for me ForexPlane.com Editor: i'm sure there are lots of experts out there ForexPlane.com Editor: who've traded longer and more profitable than i am Check out our sponsored link: null Pat: I agree with youo ForexPlane.com Editor: i do enough but would like to always know more ForexPlane.com Editor: learn more and be more than i currently am ForexPlane.com Editor: it's a natural progression ForexPlane.com Editor: traders always keep learning to find new ways to trade ForexPlane.com Editor: better and improve and challenge themselves ForexPlane.com Editor: intellectually Pat: true -- ForexPlane.com Editor: of course good money is the just reward Pat: Every day is a new day in these kind of business ForexPlane.com Editor: yes ForexPlane.com Editor: it's something that's very unique about this is ForexPlane.com Editor: when i first started Check out our sponsored link: ForexPlane.com Editor: i thought i had to trade every day and every hour ForexPlane.com Editor: that's what traders are right? trade ForexPlane.com Editor: if they don't trade, they're not traders, ForexPlane.com Editor: that was the logic ForexPlane.com Editor: now i see myself as a shop owner really ForexPlane.com Editor: there's no business until a client comes in and buy something ForexPlane.com Editor: in the meantime you have to leave the door open and wait for that opportunity ForexPlane.com Editor: for the opportunity to sell to that potential client that just came in ForexPlane.com Editor: he may leave without buying anything ForexPlane.com Editor: but it's an opportunity nevertheless Check out our sponsored link: null ForexPlane.com Editor: this is how i see trading ForexPlane.com Editor: wait and wait until the right moment appears Pat: true - ForexPlane.com Editor: it becomes a business Pat: so are you online all the time or just login few times a day ForexPlane.com Editor: i try to be in front as much as possible ForexPlane.com Editor: but especially when the times when best opportunities are there ForexPlane.com Editor: so london opening ForexPlane.com Editor: is where things move and opps are there Check out our sponsored link: Pat: ok ForexPlane.com Editor: like when lunchtime comes for the shop owner ForexPlane.com Editor: where people come in during lucnh to do their shopping etc ForexPlane.com Editor: sometimes i can be difficult thing ForexPlane.com Editor: waiting but it gives you lots of freedom to do something else while you wait Pat: true ForexPlane.com Editor: resaerch, etc ForexPlane.com Editor: i like it because it's very independent type of business Pat: I agree - I really appreciate your views ForexPlane.com Editor: fits my personality i suppose ForexPlane.com Editor: no problem Check out our sponsored link: null ForexPlane.com Editor: no point in keeping it to myself ForexPlane.com Editor: i don't learn anythng by not sharing Pat: good concept ForexPlane.com Editor: i think this is reason ForexPlane.com Editor: why experienced traders might come here ForexPlane.com Editor: to share their experience ForexPlane.com Editor: and hopefully that would bring in new traders ForexPlane.com Editor: to learn from them ForexPlane.com Editor: but people have to find this place first ForexPlane.com Editor: anyway, time for me to go ForexPlane.com Editor: i'll see you tomorrow? Pat: Yes - Brian - I will be there Check out our sponsored link: Pat: Thanks for your time ForexPlane.com Editor: bye

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