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:: Cable (GBPUSD) Trend Trading ::

  • #81
  • Apr 26, 2007 8:03am Apr 26, 2007 8:03am
Quoting zobo
Still got lots to learn and I think I can learn something in this thread.
I'll do my best. We all learn a little every day. I respect what Gandhi said: Live as if your were to die tomorrow. Learn as if you were to live forever. I apply both parts. I'm off to party. And I'm getting on you know. Take care.
Do not focus on making money; focus on protecting what you have.
  • #82
  • Apr 26, 2007 1:57pm Apr 26, 2007 1:57pm
1.9905 SL 1.9945 TP 1.9855 Last 1.9910. I hope it doesn't open but if it does I want it closed at TP within 7 hours and back to 9905+ by then also. Forex Gods - are you listening? The 30-min RSI is reversing up from its oversold area calling for a consolidation before a new downleg.

http://www.tradingcentral.com/chart/...0426215355.GIF

Do not focus on making money; focus on protecting what you have.
  • #83
  • Edited 10:13pm Apr 26, 2007 10:03pm | Edited 10:13pm
The Forex Gods have finished for the week also I propose.

Open short at a loss of 16 pips and the long at 8 pips loss. The Buy Limit is still O/S at 1.9888 and Sell Limit still, of course, at 2.0063.
Do not focus on making money; focus on protecting what you have.
  • #84
  • Apr 26, 2007 11:09pm Apr 26, 2007 11:09pm
Quoting Why Oh Why
Open short at a loss of 16 pips and the long at 8 pips loss. The Buy Limit is still O/S at 1.9888 and Sell Limit still, of course, at 2.0063.
Open short at a profit of 14 pips and the long at 38 pips loss. Exited 2 shorts for 28 pips, 3 left.
Do not focus on making money; focus on protecting what you have.
  • #85
  • Apr 26, 2007 11:16pm Apr 26, 2007 11:16pm
Quoting Why Oh Why
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.
Loss 200 pips. Just exited for another 2 lots at 32 each on the shorts so a profit on the week of 8 pips at the moment. But I'm still short 1 lot with the Buy Limit now open at 1.9888 with an open loss of 19 pips.
Do not focus on making money; focus on protecting what you have.
  • #86
  • Apr 26, 2007 11:22pm Apr 26, 2007 11:22pm
Quoting Why Oh Why
Loss 200 pips. Just exited for another 2 lots at 32 each on the shorts so a profit on the week of 8 pips at the moment. But I'm still short 1 lot
And short SL moved to break even to profit lock 92 pips. So a guaranteed profitable week for a minimum of 8 pips and out of the shit with a short. Unless the long hits SL which is unlikely. Amazing. I'm off for breakfast.
Do not focus on making money; focus on protecting what you have.
  • #87
  • Apr 27, 2007 1:18am Apr 27, 2007 1:18am
Quoting Why Oh Why
1.9905 SL 1.9945 TP 1.9855 Last 1.9910. I hope it doesn't open but if it does I want it closed at TP within 7 hours and back to 9905+ by then also. Forex Gods - are you listening? The 30-min RSI is reversing up from its oversold area calling for a consolidation before a new downleg.
They must have had a late night and didn't surface before I went for breakfast. The short SL moved to break even to profit lock 92 pips and the revised SL was hit so the last lot exited at breakeven. All happened 3 hours past my guestimate.

8 pips profit on the week with the long now at 50 pips each on 5 lots. I'll profit lock on some soon.
Do not focus on making money; focus on protecting what you have.
  • #88
  • Apr 27, 2007 1:22am Apr 27, 2007 1:22am
The upside penetration of 1.9955 will call for a rebound towards 1.9977 & 1.9997. But the downside breakout of the 1.995 former strong support area still calls for another leg down. ST Consolidation; MT Bullish

2 lots remaining.
Do not focus on making money; focus on protecting what you have.
  • #89
  • Apr 27, 2007 1:31am Apr 27, 2007 1:31am
Quoting Why Oh Why
1.9888 SL 1.9788 TP 2.0510 Last 1.9905.
On the last two lots. On the last post I wrote I had two lots left but I didn't write that that was because I'd just exited 3 of the original 5 above for 50 pips each. Just to clarify that's 150 pips locked and the remaining two long open now have the SL above entry by 20 pips for a minimum profit of another 40 pips. Open pips on the two remaining now 55 each. Perhaps I should have kept them all open?
Do not focus on making money; focus on protecting what you have.
  • #90
  • Edited 1:54am Apr 27, 2007 1:53am | Edited 1:54am

Quoting Why Oh Why
The upside penetration of 1.9955 will call for a rebound towards 1.9977 & 1.9997. But the downside breakout of the 1.995 former strong support area still calls for another leg down. ST Consolidation; MT Bullish. 2 lots remaining.
The upside breakout of 1.9925 calls for a limited recovery.http://www.tradingcentral.com/chart/...0427101515.GIF

Do not focus on making money; focus on protecting what you have.
  • #91
  • Apr 27, 2007 2:35am Apr 27, 2007 2:35am
US GDP for the 1st quarter of 2007. It's the first preliminary report of the quarter, where huge deviations are possible. It's expected to come out at around 1.6 to 2.0%. A reading of 2.5% or higher would signify a super strong GDP, same as last quarter, and may be very bullish for US, so GBP/USD could go down by 70 pips or more in the first hour of the report, depending on the price level beforehand.

A reading of 1.2% or below would signify a surprisingly low level of GDP, and very bad for USD, so GBP/USD may go up by 70 pips or more in the first hour of the report, may even go higher, depending on GBP/USD levels before the report.

What will it do? I haven't got a clue. Ask NewstraderFX. That's his department.
Do not focus on making money; focus on protecting what you have.
  • #92
  • Apr 27, 2007 3:14am Apr 27, 2007 3:14am
Quoting Why Oh Why
150 pips locked and the remaining two long open now have the SL above entry by 20* pips for a minimum profit of another 40 pips. Open pips on the two remaining now 55 each. Perhaps I should have kept them all open?
So, a profitable first week and it all looked so grim yesterday. But it could have been so much better if 2 limits weren't missed by 3 pips each. 1 loser on the week and the other 5 trades were profitable. Why? Scaling out and profit lock IMO. 1 notable exception there though on a short I should have held on to. But the exits were valid and based on my strategy for a trending market.

158 pips for the week. With a further guaranteed 80 as I've now moved the SL up another *20 on the outstanding 2 lots. Currently showing 70 each lot. I wish I'd held on to them all now. No I don't. Stick to the rules. It works out more profitable. Remember Profit Lock.

That's it from me. Have a great weekend everyone. For me it starts now. I'm off ffor a very large Cognac.
Do not focus on making money; focus on protecting what you have.
  • #93
  • Apr 27, 2007 3:18am Apr 27, 2007 3:18am
The upside breakout of 1.9925 still only calls for a limited recovery.

http://www.tradingcentral.com/chart/...0427115012.GIF

Do not focus on making money; focus on protecting what you have.
  • #94
  • Apr 27, 2007 4:37am Apr 27, 2007 4:37am
Quoting Why Oh Why
158 pips for the week. With a further guaranteed 80 as I've now moved the SL up another 20 on the outstanding 2 lots. Currently showing 70 each lot.
SL moved to Profit Lock another 40 pips on each long. Entry was a Buy Limit yesterday at 1.9888 SL 1.9788 TP 2.0510 Last 1.9905. Entry placed the day before. It is now amended to SL 1.9968. TP unchanged. Last 1.9993. If it now hits the revised SL an additional 80 pips for each lot.

Revised profit for this week if SL is hit is now doubled to 318 pips. If it doesn't close at SL then the pips carry over to next week for an opening profit on the new week. And I really am gone now. A nice limited recovery - I can feel a short coming on for Monday. We'll see.
Do not focus on making money; focus on protecting what you have.
  • #95
  • Apr 29, 2007 2:28pm Apr 29, 2007 2:28pm
Quoting Why Oh Why
SL moved to Profit Lock another 40 pips on each long. Entry was a Buy Limit yesterday at 1.9888 SL 1.9788 TP 2.0510 Last 1.9905. Entry placed the day before. It is now amended to SL 1.9968. TP unchanged. Last 1.9993. If it now hits the revised SL an additional 80 pips for each lot.

Revised profit for this week if SL is hit is now doubled to 318 pips. If it doesn't close at SL then the pips carry over to next week for an opening profit on the new week. And I really am gone now. A nice limited recovery - I can feel a short coming on for Monday. We'll see.
SL was hit so profit for last week was 318 pips. Have a great week everyone. More in 7 hours - the start of my new week. Sell Limit at 2.0063 remains O/S.
Do not focus on making money; focus on protecting what you have.
  • #96
  • Apr 29, 2007 2:38pm Apr 29, 2007 2:38pm
Nearly 5000 views in it's fiirst week. My local paper doesn't have that many readers. Great to see. Another 300 pips this week? I doubt it but I'll do my best.
Do not focus on making money; focus on protecting what you have.
  • #97
  • Apr 29, 2007 11:04pm Apr 29, 2007 11:04pm
1.9935 SL 1.9835 TP 2.0510 Last 1.9945
Do not focus on making money; focus on protecting what you have.
  • #98
  • Apr 29, 2007 11:08pm Apr 29, 2007 11:08pm
Quoting Why Oh Why
1.9935 SL 1.9835 TP 2.0510 Last 1.9945
Till it opens.
Do not focus on making money; focus on protecting what you have.
  • #99
  • Apr 29, 2007 11:11pm Apr 29, 2007 11:11pm
Quoting Why Oh Why
1.9935 SL 1.9835 TP 2.0510 Last 1.9945
I'm out for breakfast now. Catch you later.
Do not focus on making money; focus on protecting what you have.
  • #100
  • Apr 30, 2007 6:27am Apr 30, 2007 6:27am
Still holding 3 on a quiet day. The 30-min RSI has broken above a declining trend line.


http://www.tradingcentral.com/chart/...0430135152.GIF

Do not focus on making money; focus on protecting what you have.
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