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Cable Update (GBPUSD)

  • #119,361
  • Feb 9, 2009 11:38am Feb 9, 2009 11:38am
I went short at 1.4950 tp 1.4800 and sl 1.5015 hope my tp will hit during asian session.
  • #119,362
  • Feb 9, 2009 11:38am Feb 9, 2009 11:38am
Quoting Magix
I may have a different view on the charts, but a stop loss for the indicators I use are for safety ranges, not gambles. I still look at this being bearish but will wait for further confirmation after lunch and will gladly take a bird in the hand over 2 in the bush.

+220 on the day scalps on all sides, can we see 300 on a day like today?
Do you mind me asking what indicators you use?
  • #119,363
  • Feb 9, 2009 11:40am Feb 9, 2009 11:40am
I hope people have been trading well today, and make up for my major screw up! Fort i wud just share this experience to perhaps help new traders and something for others to feel better about lol.

OK started today with a nice run of profitable trades, everything going great.
Was up by about 151 pips - spread. Or in money terms about £50 cause i trade small lots.
By now uv probably guessed I threw them away with some MAJOR errors, which screwed me up the first few days i went live. Cant beleieve I have repeated the same crud again!
Ok I have been looking at really trying to perfect my method further and intoduced slightly different techniques. Everything going great then got caught out in that whiplash move designed to take noobs out. Took all my pips plus 14 odd. So I stopped trading and went through my entire day and trade set ups, and because I have introduced slightly different things it skewed my trading calls, and also missed a couple of trades I wud normally take.
I no the more experienced here will be tutting to urselves cause its a foolish mistake to be trying somthing new live, but my over confidence got the better of me.
Now the really annoying thing is going through my day had I kept my original trade plan I wud have made 86 pips today. So just fort id share that with everyone.
Now I cud be saying its a wasted day today, and i am certainly peed off about it, but I have taken it in and learned a lot, yet again.

Anyway have a good day all, im out.
  • #119,364
  • Feb 9, 2009 11:41am Feb 9, 2009 11:41am
Quoting MarkyBoy
Do you mind me asking what indicators you use?

Self correcting fib scale, used on 1m for scalps, 5-15m for continuations.
MA 4,7,9 play the 4 for support/resistance, 7/9 for confirmation.
RSI 13/3
MACD 12,26,9
OSMA 12,26,9
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #119,365
  • Feb 9, 2009 11:54am Feb 9, 2009 11:54am
Quoting Magix
Self correcting fib scale, used on 1m for scalps, 5-15m for continuations.
MA 4,7,9 play the 4 for support/resistance, 7/9 for confirmation.
RSI 13/3
MACD 12,26,9
OSMA 12,26,9

for sure u going to get killed if u rely on those indicators
2 of those indicators are doing exactly the same thing..

be carefull bro macd and osma is the same thing
  • #119,366
  • Feb 9, 2009 11:59am Feb 9, 2009 11:59am
Quoting nAVIN2007
for sure u going to get killed if u rely on those indicators
2 of those indicators are doing exactly the same thing..

be carefull bro macd and osma is the same thing

Interestingly enough, I use them to confirm one another, but I am not about to enter into a peeing contest with anybody.

I wasn't seeking approval, just answering the question and will gladly just take the money I make instead of a pat on the back.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #119,367
  • Feb 9, 2009 11:59am Feb 9, 2009 11:59am
Day result:383230912009.02.09 17:42sell0.10gbpusd1.492150.000000.000002009.02.09 18:161.492100.000.000.000.50 383232572009.02.09 17:44buy0.20gbpusd1.495750.000001.496502009.02.09 18:521.496000.000.000.005.00 383234102009.02.09 17:46buy0.20gbpusd1.494350.000001.496852009.02.09 18:091.494700.000.000.007.00 383235222009.02.09 17:48buy0.40gbpusd1.494050.000001.497052009.02.09 18:081.494000.000.000.00-2.00 383235802009.02.09 17:49sell0.80gbpusd1.492850.000001.491052009.02.09 18:151.492600.000.000.0020.00 383236682009.02.09 17:51sell0.20gbpusd1.493950.000000.000002009.02.09 17:571.493900.000.000.001.00 383237212009.02.09 17:51buy5.00gbpusd1.495450.000001.496502009.02.09 18:521.496000.000.000.00275.00 0.00 0.00 4.83 8 009.50 Closed P/L: 8 014.33 Open Trades: TicketOpen TimeTypeSizeItem PriceS / LT / P PriceCommissionTaxesSwapProfit No transactions 0.00 0.00 0.00 0.00 Floating P/L: 0.00 Working Orders: TicketOpen TimeTypeSizeItem PriceS / LT / PMarket Price No transactions Summary: Deposit/Withdrawal: 3 000.00 Credit Facility: 0.00 Closed Trade P/L: 8 014.33 Floating P/L: 0.00 Margin: 0.00 Balance: 11 014.33 Equity: 11 014.33 Free Margin: 11 014.33
  • #119,368
  • Feb 9, 2009 12:02pm Feb 9, 2009 12:02pm
Quoting trader2160
Your inbox is full bro.Did you catch the match?
Inbox now cleared... Which match?... West Indies/England or Arsenal/Tottenham?

I watched the latter. I never liked cricket...
Patience + Discipline - Greed = Success
  • #119,369
  • Feb 9, 2009 12:03pm Feb 9, 2009 12:03pm
i am long on cable from 1.49, TP is 1.51 ,SL 1.485. Markets are up and traders in the desk beside me are bulish on cable today.
  • #119,370
  • Feb 9, 2009 12:08pm Feb 9, 2009 12:08pm
Quoting MrCampbell
i am long on cable from 1.49, TP is 1.51 ,SL 1.485. Markets are up and traders in the desk beside me are bulish on cable today.
Me as well !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #119,371
  • Feb 9, 2009 12:13pm Feb 9, 2009 12:13pm
my chart shows she going up...
why you said she going down?!!
  • #119,372
  • Feb 9, 2009 12:16pm Feb 9, 2009 12:16pm
Quoting napster_630
my chart shows she going up...
why you said she going down?!!
The eyes are different bro !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #119,373
  • Feb 9, 2009 12:18pm Feb 9, 2009 12:18pm
Quoting Magix
Interestingly enough, I use them to confirm one another, but I am not about to enter into a peeing contest with anybody.

I wasn't seeking approval, just answering the question and will gladly just take the money I make instead of a pat on the back.

i wasnt having a dig bro, i just highlighting that they the same.."i would be the last person on here saying i know how to trade"...its all relative and i just mentioning it incase u didnt realise...it would be wrong for me to know this and not say it..u gotta help a fellow brother out when its needed

trade safe and well...many pips to u
  • #119,374
  • Feb 9, 2009 12:25pm Feb 9, 2009 12:25pm
Quoting Magix
I may have a different view on the charts, but a stop loss for the indicators I use are for safety ranges, not gambles. I still look at this being bearish but will wait for further confirmation after lunch and will gladly take a bird in the hand over 2 in the bush.

+220 on the day scalps on all sides, can we see 300 on a day like today?

Very possible but currently the mrket is stalk and I think any movement in either direction will be strong.
Trading Just Got Easier...
  • #119,375
  • Feb 9, 2009 12:28pm Feb 9, 2009 12:28pm
Quoting nAVIN2007
i wasnt having a dig bro, i just highlighting that they the same.."i would be the last person on here saying i know how to trade"...its all relative and i just mentioning it incase u didnt realise...it would be wrong for me to know this and not say it..u gotta help a fellow brother out when its needed

trade safe and well...many pips to u

I cannot be offended, seriously...

I had full expectations of people disagreeing with me and my forecasts, even though we are all watching the same motion, we can still be on opposite sides.

I am not going to claim perfection, I had started the day off with a -30ish position, head fakes and poor exercise of patience. MACD and OSMA, I do realize do show the same thing, but using the pair with confirmation of other indicators allows me to if enter in the wrong side of the trade, will still allow me to at least take my spread down to zero if not plus a couple.

If they were the only 2 I used, I would agree, hand my ass to me on a silver platter, but when all confirm, it's money trades, when I don't listen, I get sad really fast.

I am a personal believer of trading your own style and taking your own positions, it's really the only chance you have at long term success.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #119,376
  • Feb 9, 2009 12:29pm Feb 9, 2009 12:29pm
look like she have lost steam for further upside so i think she will going down.Normally 1600 gmt-1800 gmt it the time to go short for me.
  • #119,377
  • Feb 9, 2009 12:32pm Feb 9, 2009 12:32pm
@ Magix, based on previous comment by nAVIN hope you were not think I was critising your trade? I am not and never will critise any one. This is just a discussion forum and I just said what I said based on what I see here. If 1 million of us sit behind screen to take same trade I can bet u we will all enter on different basis eventhough we are all taught by the same person.

@ nAVIN, I never thought Magix was harsh or you or thought u were harsh on him.

I hope I have not caused any form of commotion?
Trading Just Got Easier...
  • #119,378
  • Feb 9, 2009 12:32pm Feb 9, 2009 12:32pm
Quoting Magix
I cannot be offended, seriously...

I had full expectations of people disagreeing with me and my forecasts, even though we are all watching the same motion, we can still be on opposite sides....
good stuff
  • #119,379
  • Feb 9, 2009 12:35pm Feb 9, 2009 12:35pm
Quoting walesoje1
@ Magix, based on previous comment by nAVIN hope you were not think I was critising your trade? I am not and never will critise any one. This is just a discussion forum and I just said what I said based on what I see here. If 1 million of us sit behind screen to take same trade I can bet u we will all enter on different basis eventhough we are all taught by the same person.

@ nAVIN, I never thought Magix was harsh or you or thought u were harsh on him.

I hope I have not caused any form of commotion?

Worry not Amigo,

I am here to learn, and I think this here sand box is big enough for all of our Tonka Trucks.

Feel free to advise me at will, I can only hope to improve.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #119,380
  • Feb 9, 2009 12:37pm Feb 9, 2009 12:37pm
Quoting walesoje1
@ Magix, based on previous comment by nAVIN hope you were not think I was critising your trade? I am not and never will critise any one. This is just a discussion forum and I just said what I said based on what I see here. If 1 million of us sit behind screen to take same trade I can bet u we will all enter on different basis eventhough we are all taught by the same person.

@ nAVIN, I never thought Magix was harsh or you or thought u were harsh on him.

I hope I have not caused any form of commotion?

oh no..i can safely say nobody is offended and i take everything on here with a pinch of salt u have too..every1 has there view and everything and nothing works and i realise who am i to say what works and not..its all personal perception and we have to respect one another.
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