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Cable Update (GBPUSD)

  • #31,101
  • Sep 17, 2007 11:15pm Sep 17, 2007 11:15pm
Quoting matouya
Can anyone advice me what to do? I got long @ 2.0150. Should I get out now or what?
Nobody knows what is going to happen tomorrow. I'm biased to short...BUT....if I was in your place I would hedge.
For he that would be deceived, let him.
  • #31,102
  • Sep 17, 2007 11:17pm Sep 17, 2007 11:17pm
Quoting matouya
Can anyone advice me what to do? I got long @ 2.0150. Should I get out now or what?
I am not an expert or master but you can see my post #31116 (may be happened).
  • #31,103
  • Sep 17, 2007 11:18pm Sep 17, 2007 11:18pm
Quoting matouya
Can anyone advice me what to do? I got long @ 2.0150. Should I get out now or what?

you are now -200 pips??????? no comments... if you patient you will win..
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #31,104
  • Sep 17, 2007 11:51pm Sep 17, 2007 11:51pm
So all sign pointing south still? So, I need to get out first then enter later at lower rate or what?

I'm so frustrated now?
  • #31,105
  • Sep 17, 2007 11:53pm Sep 17, 2007 11:53pm
Quoting matouya
So all sign pointing south still? So, I need to get out first then enter later at lower rate or what?

I'm so frustrated now?
If you feel you can wait... just wait
If you cannot wait...........just closed
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #31,106
  • Sep 17, 2007 11:59pm Sep 17, 2007 11:59pm
Quoting matouya
So all sign pointing south still? So, I need to get out first then enter later at lower rate or what?

I'm so frustrated now?
hedge...while you still can...
For he that would be deceived, let him.
  • #31,107
  • Sep 18, 2007 12:06am Sep 18, 2007 12:06am
What you mean by hedge? Sell GBP/USD or do other currency?
  • #31,108
  • Sep 18, 2007 12:36am Sep 18, 2007 12:36am
Quoting matouya
So all sign pointing south still? So, I need to get out first then enter later at lower rate or what?

I'm so frustrated now?
If ur analysis / instinct / guts / coin toss, show that it can go up.. then u can hold ur position.

If u are not sure anymore, and u have enough margin to fight back. Get out.

If u are not sure anymore, and ur margin at critical level, hedge while u still can.

If u are not sure anymore, and ur margin is one step from margin call. Then i wish u good luck
  • #31,109
  • Sep 18, 2007 12:39am Sep 18, 2007 12:39am
Quote
What you mean by hedge? Sell GBP/USD or do other currency?

Hedge here means, taking position in opposite direction. Most brokers allow this without spending any equity.
Hello World!
  • #31,110
  • Sep 18, 2007 12:45am Sep 18, 2007 12:45am
matouya,

your situation reminds me of mine, if I knew what hedging was in my early days, I would not have blown my first account.

Many noobs like me start trading without even properly learning the basics. FX is too tempting that many people like me jump in this without even understand the risks involved.

Before you open a position in future, plan your SL first. SL is more important than the meals you gona take today.
Hello World!
  • #31,111
  • Sep 18, 2007 12:45am Sep 18, 2007 12:45am
Quoting matouya
So all sign pointing south still? So, I need to get out first then enter later at lower rate or what?

I'm so frustrated now?
But..hmmm... I'm going long soon. If you want to follow me, you can follow me from my back... we will climb the mount everest..
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #31,112
  • Sep 18, 2007 1:37am Sep 18, 2007 1:37am
Quoting Kiyosaki JR
But..hmmm... I'm going long soon. If you want to follow me, you can follow me from my back... we will climb the mount everest..
Another long for him Kiyo?? IF its a wrong move (since we might havent seen the bottom).. u will be sending him off sooner..
  • #31,113
  • Sep 18, 2007 1:42am Sep 18, 2007 1:42am
been testing small lots to see if the price repsonded to the current zone...i think we might have seen the bottom for GU. Im long at 1.9892
Attached Image (click to enlarge)
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  • #31,114
  • Sep 18, 2007 1:51am Sep 18, 2007 1:51am
Can anyone help me in GBP/USD i am holding now. I am newbie don't know how to handle it.

Please let me know if there are any experts.
  • #31,115
  • Sep 18, 2007 1:56am Sep 18, 2007 1:56am
Long cable short Euro..
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #31,116
  • Sep 18, 2007 2:05am Sep 18, 2007 2:05am
Quoting matouya
What you mean by hedge? Sell GBP/USD or do other currency?
Make sure you follow me from the back..
Kiyoski JR. "Time is your friend; impulse is your enemy."
  • #31,117
  • Sep 18, 2007 2:10am Sep 18, 2007 2:10am
Quoting Kiyosaki JR
Long cable short Euro..
Short Cable Long Euro..

If u are not sure which way it will go.. close ur position and stay out until u can clearly see which way.. DONT follow other people's call.
  • #31,118
  • Sep 18, 2007 2:11am Sep 18, 2007 2:11am
Quoting matouya
Can anyone advice me what to do? I got long @ 2.0150. Should I get out now or what?
Matouya,

You must've had a reason for placing the trade in the first place (probability??)

Does this reason still exist now? If not close the trade and stop the pain...Live to fight another day...

If you find yourself posting for advice on whether to stay in a trade or not...It's a sure sign you should get out..
  • #31,119
  • Sep 18, 2007 2:12am Sep 18, 2007 2:12am
Quote
Make sure you follow me from the back..

DO not get mad at noobs
Hello World!
  • #31,120
  • Sep 18, 2007 2:24am Sep 18, 2007 2:24am
Quoting Norman1
Matouya,

You must've had a reason for placing the trade in the first place (probability??)

Does this reason still exist now? If not close the trade and stop the pain...Live to fight another day...

If you find yourself posting for advice on whether to stay in a trade or not...It's a sure sign you should get out..

Agreed...
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