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Cable Update (GBPUSD)

  • #461,081
  • Jun 15, 2018 2:53am Jun 15, 2018 2:53am
Quoting geektrader
{quote} Why would you hold on to a loss that long? I never got that concept. If you have low spreads on GBPUSD (with IC Markets I have about 0.3 pips spread + 0.4 pips commission in a EUR based account), I scalp the hell out of it. If my trade does not work out right away, I let it hit my (most of the time) 5 pips SL, then simply reenter later on if the setup is still valid. No need to let it go down 70 pips. Just let it go down 5 pips, let it hit SL, wait the next 65 pips down, then re-enter if your idea is still valid and youīll just have saved...
Did you see the bounce from double bottom ??
Intraday only.
  • #461,082
  • Jun 15, 2018 2:54am Jun 15, 2018 2:54am
Yea, I am long again, scalping my way up :-) Ready to change direction any time if needed. I am trading on M1 + tick-chart (1 tick).
  • #461,083
  • Jun 15, 2018 2:56am Jun 15, 2018 2:56am
Quoting geektrader
Yea, I am long again, scalping my way up :-) Ready to change direction any time if needed. I am trading on M1 + tick-chart (1 tick).
I can not trade for 5 pips...
Intraday only.
  • #461,084
  • Jun 15, 2018 2:57am Jun 15, 2018 2:57am
Why, high spread broker? I trade for 3 pips very often (or less). Repeat that a few times a day and you can live from it. Nothing more needed.
  • #461,085
  • Jun 15, 2018 2:58am Jun 15, 2018 2:58am
This is one of my strategy.

Price at double bottom. No problem for taking long. Almost 40 pips in no time.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDH1.png Size: 74 KB
Intraday only.
  • #461,086
  • Jun 15, 2018 3:00am Jun 15, 2018 3:00am
Nice! Everyone has their strategy I guess. I trade with ~5 pips SL, often less, targetting 6 to 7 pips, less if needed. Jumping in and out based on 1M + tick chart. If I see the slightest reversal for my trade and itīs in the plus, I will exit, wait, if price drops (and I was long) and I think my idea is still valid, re-enter. With such a low spread itīs very easy to scalp like this and be profitable without taking any big risk. I do that from London open + 1 hour and then call it a day. I am done for today already, + 40 pips within 12 trades, better morning than I thought. Time for my real hobbies now + will repeat tomorrow as usually :-)
  • #461,087
  • Jun 15, 2018 3:03am Jun 15, 2018 3:03am
Quoting navk
This is one of my strategy. Price at double bottom. No problem for taking long. Almost 40 pips in no time. {image}
hai mate..
long at 1.3230 sL 30pips tP lets see
just for a cup of coffee...
  • #461,088
  • Jun 15, 2018 3:05am Jun 15, 2018 3:05am
Ok, one more, I am also long (again) from 1.3253, on M1 lows raising, highs too, higher TFīs changing direction to long too, previous highīs (last 5 hours) broken upwards, tick chart has good "jumps" upwards with smaller retraces down, so it should be ready for a few more pips up from here possibly. The only thing that sucks is is that this is in the 50īs area, usually takes some back and forth before deciding on the direction.
  • #461,089
  • Jun 15, 2018 3:05am Jun 15, 2018 3:05am
Quoting akim0895
{quote} hai mate.. long at 1.3230 sL 30pips tP lets see
keep in mind double bottom.

If the price breaks 1.3270, then looooong way to go.
Intraday only.
  • #461,090
  • Jun 15, 2018 3:08am Jun 15, 2018 3:08am
Quoting masudsardar
{image}
Attached Image (click to enlarge)
Click to Enlarge Name: ff.jpg Size: 77 KB
to err is human
  • #461,091
  • Jun 15, 2018 3:12am Jun 15, 2018 3:12am
Price action stalling too much right now, I am out for +- 0 on my last trade, time for making some music now, back tomorrow morning Good luck everyone!
  • #461,092
  • Jun 15, 2018 3:13am Jun 15, 2018 3:13am
Quoting navk
{quote} keep in mind double bottom. If the price breaks 1.3270, then looooong way to go.
sure mate
just for a cup of coffee...
  • #461,093
  • Jun 15, 2018 3:14am Jun 15, 2018 3:14am
Quoting geektrader
Price action stalling too much right now, I am out for +- 0 on my last trade, time for making some music now, back tomorrow morning Good luck everyone!
It is stalling bcos it is daily open line.

It will break soon.
Intraday only.
  • #461,094
  • Jun 15, 2018 3:26am Jun 15, 2018 3:26am
Yes I know, as Iīve mentioned, but normally I am already done (my 1 hour of daily trading is over) - time to enjoy life now, no need to wait for the break, price action the hour before was clear and nice, now itīs getting a bit undecided, so better quit and come back tomorrow :-)
  • #461,095
  • Jun 15, 2018 3:29am Jun 15, 2018 3:29am
Quoting geektrader
Yes I know, as Iīve mentioned, but normally I am already done (my 1 hour of daily trading is over) - time to enjoy life now, no need to wait for the break, price action the hour before was clear and nice, now itīs getting a bit undecided, so better quit and come back tomorrow :-)
There is no tomorrow. Do it today. : )
Intraday only.
  • #461,096
  • Jun 15, 2018 4:28am Jun 15, 2018 4:28am
Quoting navk
{quote} There is no tomorrow. Do it today. : )
next weeks perhalps more upside to come
just for a cup of coffee...
  • #461,097
  • Jun 15, 2018 5:01am Jun 15, 2018 5:01am
1.33 area looks like next logical resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDDaily.png Size: 26 KB
Come with me if you want to live....
  • #461,098
  • Jun 15, 2018 5:28am Jun 15, 2018 5:28am
Quoting navk
{quote} There is no tomorrow. Do it today. : )
Nah, I trade to live, not living to trade. Also, the market conditions in the first hour from London open are the only time I trade, because I make consistent money during that hour since 2008. It has the clearest movements on M1, after that hour it gets rather choppy and not as clear anymore (at least in 80% of the days). You just ride with the train, take what you can get, then exit and repeat tomorrow. Itīs like driving to work every day, you know your train, you know exactly what to do. No need to drive the train further, instead you do the same old thing tomorrow. That is all you need to make a nice living and for the rest of the day, you enjoy your life.
  • #461,099
  • Jun 15, 2018 5:51am Jun 15, 2018 5:51am
Quoting geektrader
{quote} Nah, I trade to live, not living to trade. Also, the market conditions in the first hour from London open are the only time I trade, because I make consistent money during that hour since 2008. It has the clearest movements on M1, after that hour it gets rather choppy and not as clear anymore (at least in 80% of the days). You just ride with the train, take what you can get, then exit and repeat tomorrow. Itīs like driving to work every day, you know your train, you know exactly what to do. No need to drive the train further, instead you...
was just kidding with you...
Intraday only.
  • #461,100
  • Jun 15, 2018 5:53am Jun 15, 2018 5:53am
Quoting navk
This is one of my strategy. Price at double bottom. No problem for taking long. Almost 40 pips in no time. {image}
closed my trades + 73.
Intraday only.
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