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  • #1,101
  • Oct 19, 2006 2:07pm Oct 19, 2006 2:07pm
Quoting Americantek
I love averaging up or down my position when the market makes an unexpected move. Its just feels good. I'm short on GBPUSD but I really don't care where the price goes
that can be dangerous. of course sometimes it will work but even though you can be really confident it will go back in your favor, you can never really know.

then your averaging down and soon you've risked a huge percentage of your portfolio.
  • #1,102
  • Oct 19, 2006 2:25pm Oct 19, 2006 2:25pm
It is much more dangerous to use S/L than my method. And when the price does drop, I clean up big time, instead of taking a loss. Since im short and the price moved up, then im averaging up, not down as you said. You said that if I am doing this then soon a huge percentage of my account would be at risk. You are assuming a lot there. In fact, my whole strategy relies on this and I am using complete money management. I am totally in control, no risk of blowing my account or even coming close.



Quoting clam61
that can be dangerous. of course sometimes it will work but even though you can be really confident it will go back in your favor, you can never really know.

then your averaging down and soon you've risked a huge percentage of your portfolio.
  • #1,103
  • Oct 20, 2006 2:42am Oct 20, 2006 2:42am
BlueShift my friend, it will be nice to see you online from time to time and sharing your valuable knowledge. How about a daily "look-in", please?

Trust you have recovered fully from the cold / flu.

Best wishes.
Hercs
  • #1,104
  • Oct 20, 2006 5:37am Oct 20, 2006 5:37am
Anyone take GBP/USD? Care to share??


Thanks!!
  • #1,105
  • Oct 20, 2006 8:26am Oct 20, 2006 8:26am
Quoting Americantek
It is much more dangerous to use S/L than my method. And when the price does drop, I clean up big time, instead of taking a loss. Since im short and the price moved up, then im averaging up, not down as you said. You said that if I am doing this then soon a huge percentage of my account would be at risk. You are assuming a lot there. In fact, my whole strategy relies on this and I am using complete money management. I am totally in control, no risk of blowing my account or even coming close.
I understand your point, but do you ever close the losing positions? Another case in point, what if your broker and/or the internet is down, you can suffer big losses....
  • #1,106
  • Oct 20, 2006 8:43am Oct 20, 2006 8:43am
Quoting et_phonehome_2
I understand your point, but do you ever close the losing positions? Another case in point, what if your broker and/or the internet is down, you can suffer big losses....
I only close position if the average of all my trades is in the black. In this way I treat the averaged trades like they are just one trade, not thinking about this one is positive, this one is negative. Its an incredibly helpful tool, to basically change one's entry point after the fact. Naturally I prefer getting it right the first time, but when I otherwise would have to hit my s/l I average my price instead.
  • #1,107
  • Oct 20, 2006 8:57am Oct 20, 2006 8:57am
GBP/USD...going down?
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  • #1,108
  • Oct 20, 2006 9:12am Oct 20, 2006 9:12am
This comes in late, but you are right, it is now low 1.8810.

1.8800 seems like a support for now.
  • #1,109
  • Oct 20, 2006 9:46am Oct 20, 2006 9:46am
Quoting BurgerKing
This comes in late, but you are right, it is now low 1.8810.

1.8800 seems like a support for now.
Yeah.To bad i didn't enter the market sooner. I will wait for it to break the 1.8800 level then i will enter SHORT and hoping it will go down all the way to 1.8500 or even 1.8400 by end of next week but...lets wait and see.
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  • #1,110
  • Oct 20, 2006 9:53am Oct 20, 2006 9:53am
Quoting katzenhai2
@Blast234:
How have you informed them about your problem? Per email or phone? I use NF too. Good to year such statements about my own broker.
Hi...
I contact them trough emails and live chat..
Don't forget to send some proof when you file a complaint... for example, your chart in image files, your ticket number and all the transaction details, and maybe the journal history if needed...

Happy Trading...
  • #1,111
  • Oct 20, 2006 9:53am Oct 20, 2006 9:53am
Quoting Najib the Newbie
Yeah.To bad i didn't enter the market sooner. I will wait for it to break the 1.8800 level then i will enter SHORT and hoping it will go down all the way to 1.8500 or even 1.8400 by end of next week but...lets wait and see.
Don't you worry about GBP increase the rate?????
  • #1,112
  • Oct 20, 2006 10:03am Oct 20, 2006 10:03am
Quoting Miguel76
Trade setting up now to fade the double zeros if interested - if reaches there -
sell GBPUSD 1.8805
stop loss 1.8829 - including spread.
PT1 1.8769 - including spread
PT2 Two bar high + 2 pips.
I hope you refilled your xanax prescription
  • #1,113
  • Oct 20, 2006 10:17am Oct 20, 2006 10:17am
Quoting philmcgrew
I hope you refilled your xanax prescription
Profit is where readiness meets Opportunity
  • #1,114
  • Oct 20, 2006 10:23am Oct 20, 2006 10:23am
Quoting poojin
Don't you worry about GBP increase the rate?????
I havent enter yet. But my system say SELL @1.8795, TP around 1.8500-1.8400 and [email protected].

As to your question, I dont think I worry about it that much...just a little i guess....like getting stopd but hey...i get stopd so many times
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  • #1,115
  • Oct 20, 2006 10:33am Oct 20, 2006 10:33am
Base on my technical analysis it already touch the resistance line and it will be reverse maybe next week.
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  • #1,116
  • Oct 20, 2006 8:56pm Oct 20, 2006 8:56pm
Well, I noticed something...Almost everyone is Dollar bullish & specifically Pound bearish...Everyone is giving out explanations why the GBP shall continue it's downtrend...It is well known that the majority of traders are usually wrong at market turns (i.e. at tops & bottoms)...That's why I am convinced that almost everyone who is trying to find excuses why the GBP shall go down are wrong...

Personally, my own analysis gave a neutral signal for almost all pairs, which means that it is telling me to be flat after being long the USD against the GBP, the EUR & the CAD...This actually happened 3 days ago & I already covered all my positions & I am waiting for the market to give more details about the direction....

My own advice, guys try to listen to the market, don't just assume things...See what's really happening & analyze it, not what you want to see...


Thanks,

Nader
  • #1,117
  • Oct 20, 2006 9:01pm Oct 20, 2006 9:01pm
i think gbpusd is going to the north pole
  • #1,118
  • Oct 20, 2006 11:29pm Oct 20, 2006 11:29pm
Quoting narafa
Well, I noticed something...Almost everyone is Dollar bullish & specifically Pound bearish...Everyone is giving out explanations why the GBP shall continue it's downtrend...It is well known that the majority of traders are usually wrong at market turns (i.e. at tops & bottoms)...That's why I am convinced that almost everyone who is trying to find excuses why the GBP shall go down are wrong...

Personally, my own analysis gave a neutral signal for almost all pairs, which means that it is telling me to be flat after being long the USD against the GBP, the EUR & the CAD...This actually happened 3 days ago & I already covered all my positions & I am waiting for the market to give more details about the direction....

My own advice, guys try to listen to the market, don't just assume things...See what's really happening & analyze it, not what you want to see...


Thanks,

Nader
well said, Nader.
yesterday, i made the mistake of relying on someone else's opinion of what the usd/cad was going to do. he gave me reason after fundy reason why the cad was going in the toilet and encouraged me to buy on the first sign of weakness. i waited for a drop to a support level and went long. price bounced up a little then dropped straight down to stop me out. i waited for the next level of support then went long again. same thing happened. as i looked back on what just happened, i realized that had i not had any preconceived expectations of what 'should' happen and just been trading what was actually happening, i would have been short this pair if i had been in at all.
don't get me wrong, i'm not trying to blame someone else for my loss, it was my mistake and i learned a valuable lesson. like you said 'listen to the market' because the market could care less what you think it should do.

happy trading,
david
  • #1,119
  • Oct 21, 2006 2:44am Oct 21, 2006 2:44am
hi, i think nadar is right, dont rely on other peopleīs opinion, but also dont ignore it comepletely. selection is the key, easy to say, hard to perform.

there is a hanging man on the 4hour chart but none on the daily chart, well what now. i think it is possible, itīll go up a little further but instantly go down monday or tuesday.

waht do you think about it guys, am i wrong or just naiv.

wallboroff
  • #1,120
  • Oct 21, 2006 5:13am Oct 21, 2006 5:13am
Quoting c1ro
Anyone has ideas for the current movement of GBP/USD?
Hi c1ro,

Dont take it bad, but how you pretend to learn if you ask every minute what will be ?

I think you must seat on your table, look the charts, add indicators, find those who make sense to you, observe for few months how the price moves all the day.
I know is unnice to look the price moving all the day, but I believe is a part of the way to learn a bit how to trade.

Bye
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