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:: Cable (GBPUSD) Trend Trading ::

  • #61
  • Apr 25, 2007 11:47pm Apr 25, 2007 11:47pm
Quoting Why Oh Why
4 limits in place - 2 short, 2 long. I'll drop by just before my bed time in 8 hours for the daily summary. No pips for me today but at least I helped 1 person make a few.
Sell Limit Opened 2.0056 for 5 lots opened 14 hours ago* and just exited on 3 for 51 pips. It has been as low as 2.0010. My TP was 1.9960 which has now been brought in to 5 above the low at 2.0015. SL brought in also from 2.0093 to 2.0056 to profit lock.

The slightly higher Sell Limit which was missed yesterday by 2 pips remains at 2.0063. The 2 Buy Limits also remain O/S. Their entries may be amended soon. The old long is now at 30 pips. And thanks barak for your kind words. This thread - but there will be others - has to be limited because I have major events coming up elsewhere which will take me out of trading fro a few months. But thanks for your support.

* I wasn't able to do the daily summary yesterday because FF was down at that time. Everyone, have a great day.
Do not focus on making money; focus on protecting what you have.
  • #62
  • Apr 26, 2007 12:15am Apr 26, 2007 12:15am
Quoting Hyipgrace
Can u tell me ur Yahoo ID or MSN or else please add me MSN
Around for a busy hour then out for breakfast. I see you're here ATM. Now would be a good time.
Do not focus on making money; focus on protecting what you have.
  • #63
  • Apr 26, 2007 12:25am Apr 26, 2007 12:25am
Quoting Why Oh Why
Sell Limit Opened 2.0056 for 5 lots opened 14 hours ago and just exited on 3 for 51 pips. It has been as low as 2.0010. My TP was 1.9960 which has now been brought in to 5 above the low at 2.0015. SL brought in also from 2.0093 to 2.0056 to profit lock.
Profit 51 pips for 5 lots.
Do not focus on making money; focus on protecting what you have.
  • #64
  • Apr 26, 2007 12:28am Apr 26, 2007 12:28am
Quoting Why Oh Why
The slightly higher Sell Limit which was missed yesterday by 2 pips remains at 2.0063.
Perhaps? Last 2.0050.
Do not focus on making money; focus on protecting what you have.
  • #65
  • Apr 26, 2007 12:40am Apr 26, 2007 12:40am
Swiss bank was the buyer of cable earlier.
Do not focus on making money; focus on protecting what you have.
  • #66
  • Apr 26, 2007 1:07am Apr 26, 2007 1:07am
Quoting Why Oh Why
The slightly higher Sell Limit which was missed yesterday by 2 pips remains at 2.0063.
7 pips off for short and old long now at 51 pips.
Do not focus on making money; focus on protecting what you have.
  • #67
  • Apr 26, 2007 1:17am Apr 26, 2007 1:17am

Pivot: 1.999
1st sup. 1.999
2nd sup. 1.99555
3rd sup. 1.9925
1st res. 2.00625
2nd res. 2.00905
3rd res. 2.01345
http://www.tradingcentral.com/chart/...0425214337.GIF

Do not focus on making money; focus on protecting what you have.
  • #68
  • Apr 26, 2007 1:23am Apr 26, 2007 1:23am
Quoting Why Oh Why
7 pips off for short and old long now at 51 pips.
To catch the dip on the way up. At least that's the plan - we'll see. I'll scale out a lot at a time if it ever gets in to profit. I'm out for breakfast now. See you in a few hours.
Do not focus on making money; focus on protecting what you have.
  • #69
  • Apr 26, 2007 4:26am Apr 26, 2007 4:26am
Quoting Why Oh Why
7 pips off for short and old long now at 51 pips.
Got to within 3 pips then reversed. C'est la vie. Old long now back to 14 pips.
Do not focus on making money; focus on protecting what you have.
  • #70
  • Apr 26, 2007 5:13am Apr 26, 2007 5:13am
Quoting Why Oh Why
Buy Limit 1.9996 SL 1.9955 TP 2.0100. Last 2.0023. 5 lots as always.
24 open loss on 5 lots on Buy Limit 1.9996 that has now opened. 33 open loss on old long.
Do not focus on making money; focus on protecting what you have.
  • #71
  • Apr 26, 2007 5:29am Apr 26, 2007 5:29am
Quoting Why Oh Why
1.9955 SL 1.9915 TP 2.0045 Last 2.0002. 5 lots as always.
Amended to 1.9925 SL 1.9885 TP 2.0045 Last 2.0002. 5 lots as always. TP unchanged.
Do not focus on making money; focus on protecting what you have.
  • #72
  • Apr 26, 2007 5:31am Apr 26, 2007 5:31am
The 30-min RSI is oversold & the 1.9955 strong support area (50% retracement, horizontal support) should favour a recovery.

http://www.tradingcentral.com/chart/...0426121331.GIF

Do not focus on making money; focus on protecting what you have.
  • #73
  • Apr 26, 2007 5:40am Apr 26, 2007 5:40am
Quoting Why Oh Why
Amended to 1.9925 SL 1.9885 TP 2.0045 Last 2.0002. 5 lots as always. TP unchanged.
Again, the original Buy Limit was set at 1.9955. Missed AGAIN by 3 pips. Shame. Never mind. Move on. Last 9988. And so we continue the ascent after a lively 3 hours. Perhaps. No losses. Yet. But they will come. I'll be more comfortable when my next Sell Limit is opened.
Do not focus on making money; focus on protecting what you have.
  • #74
  • Apr 26, 2007 5:41am Apr 26, 2007 5:41am
Quoting Why Oh Why
To catch the dip on the way up. At least that's the plan - we'll see. I'll scale out a lot at a time if it ever gets in to profit. I'm out for breakfast now. See you in a few hours.
But the idea was valid.
Do not focus on making money; focus on protecting what you have.
  • #75
  • Apr 26, 2007 5:54am Apr 26, 2007 5:54am
The sun is shining and it's 21 Celsius without a cloud in the Malta sky. Caesar Salad and a glass of dry white wine nicely chilled is called for. Back in a couple of hours.
Do not focus on making money; focus on protecting what you have.
  • #76
  • Apr 26, 2007 8:57am Apr 26, 2007 8:57am
Quoting Why Oh Why
I still have 95 pips insurance to cover potential stop risk at 1.9955. Locked in a guaranteed 45 pips on the original 5 long in a difficult market posted elsewhere. 1 lot O/S - SL 1.9955 TP 2.0510. Sell limit above waiting to open.
The old long I kicked off with in this journal left over from last week hit SL an hour ago for a 45 pip profit on 5 lots. The original order was placed in the Cable Update (GBPUSD) thread.

Quoting Why Oh Why
240 pips on 5 lots including 1 lot remaining which will hit the raised SL. 1 old long still O/S and limit orders in place for my night.
And it did hit the raised SL. I hate when I'm right and it costs me money!

Quoting Why Oh Why
Sell Limit Opened 2.0056 for 5 lots opened 14 hours ago and just exited on 3 for 51 pips. It has been as low as 2.0010. My TP was 1.9960 which has now been brought in to 5 above the low at 2.0015. SL brought in also from 2.0093 to 2.0056 to profit lock.
This was closed too early as today has shown. My bullish view may have got in the way. I'll look at that later.

Quoting Why Oh Why
24 open loss on 5 lots on Buy Limit 1.9996 that has now opened. 33 open loss on old long.
Our first loss - what can I say. I posted enough charts to say it was going up. Obviously I don't have any influence at all. The reasons for entry were sound. A 205 pip loss on 5 lots. 41 for the trade.

Quoting Why Oh Why
Amended to 1.9925 SL 1.9885 TP 2.0045 Last 2.0002. 5 lots as always. TP unchanged.
No-one spotted this but if they did they didn't comment. I was expecting a why when I came back from lunch. You lot have got to pay more attention.

So why have a Buy Limit at 1.9925? When I have a SL at 1.9925 on the previous trade where I lost 205 pips. Simply, I don't like stops but really didn't expect it to get hit. But I wanted a bit of insurance. When trading a trending market I always use stops which I never change - but I still don't like them. When I'm trading a market which is range bound I don't use them. More on that here. I'm told it's a good read even if you don't share my view.

So where are we now? On closed positions for the week we have 116 pips closed profit on 4 trades. And an open loss currently of 16 pips on 5 lots. If it hits SL I'll lose 5 lots for 40 pips each so we'll finish negative. And it's looking like that may well happen. There we are. I'm finished for the day nearly. It's been a tough week for the bulls. In closing it's funny how you can be a couple of pips out on entry which would have been perfect for today and it becomes the difference between a great week and a losing week possibility. Still, that's the nature of the market.
Quoting Why Oh Why
Missed short limit by 2 pips at 2.0063 to open. Old long now at 40 pips. No more limits for today with news in an hour. I trust Sell Limit 2.0063 for 5 short will open soon.
The TP was 1.9994. A 69 pip move and I would have scaled out to lock 2 for 20 and 2 for 40 and let the last run for 69. About 189 pips. What could of been a great week. I know a couple of others had a similar experience today. Enough dwelling on what could of happened. It's now forgotten about. I've moved on. Next.

I'll normally do a weekly wrap on a Thursday because I rarely trade past Friday lunchtime which for me is 21 hours away. So have a great weekend everyone. I trust I'll have a profitable week next week. I hope you do too. I'll be around for another hour or so before I finish for the day.
Do not focus on making money; focus on protecting what you have.
  • #77
  • Edited 9:27am Apr 26, 2007 9:16am | Edited 9:27am
1.9888 SL 1.9788 TP 2.0510 Last 1.9905.
Do not focus on making money; focus on protecting what you have.
  • #78
  • Apr 26, 2007 9:21am Apr 26, 2007 9:21am
Quoting Why Oh Why
1.9888 SL 1.8888 TP 2.0510 Last 1.9905.
It is a typo or you really place SL at 1000 pips away?
  • #79
  • Apr 26, 2007 9:29am Apr 26, 2007 9:29am


Spotted in 5 minutes!

Do not focus on making money; focus on protecting what you have.
  • #80
  • Apr 26, 2007 9:51am Apr 26, 2007 9:51am
Well, you have to read carefully in order to learn.

I think my knowledge on forex is around elementary school level. Still got lots to learn and I think I can learn something in this thread.
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