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Cable Update (GBPUSD)

  • #2,361
  • Dec 18, 2006 2:30pm Dec 18, 2006 2:30pm
False signals are used by the Stoch. You do not want to be greedy with a scalping system - 3, 5 & 10 pips. With this mornings trade u had a nice dragon fly dojio form on the hour. So I just waited to enter at the right time. and place my stop 5 pips under the doji on the hour chart. I would suggust playing with it for a while and see how it works. Demo it. I can say do not add anything, with scalpinhg u want to make it as easy as possible. This is powerful and simple. At least 80%.
Quoting dobbie11
1st question it is a one min. chart. I trade with the trend of when I think there is a reversal, base on price action, S&R and Fibs is a great time to use it. Here is the chart again in a zip file, hope this helps. Aslo very good to use to get into a trend when u come in late. Catch the trend on your 60 min, 15,min, 5 min and then this to enter.
  • #2,362
  • Dec 18, 2006 2:31pm Dec 18, 2006 2:31pm
I assume you mean to exit if stoch is at 20 if it's a short?

It looks better on the 1 hr chart, at least you don't get as many fake signals! just my thoughts..Plus, the spread will hurt you if you're just catching 5-10 pips.. on my GBP the spread is 5 pips.. so, ur system for me at least would benefit on the hour chart rather than 1min or 5min chart.. Thanks for the idea..
  • #2,363
  • Dec 18, 2006 2:37pm Dec 18, 2006 2:37pm
Quoting Haris79
Getting ready to go down
I have an Open Short position.I wish to go down !
  • #2,364
  • Dec 18, 2006 2:38pm Dec 18, 2006 2:38pm
Here is the template for Meta Trader. Remebr the Stoch is used for exit only. When u r long and it is over 80 and starts turn return and god below 80 get out and the same with a short but the lower part. Other then that forget it is their. Sam os a friend of mind and I sent him a copy thats why it is named sam.
Quoting m_j_1984
Hi
thank u for sharing
Are my setting is correct ?
Attached File(s)
File Type: zip sam-scalping.zip   2 KB | 445 downloads
  • #2,365
  • Dec 18, 2006 2:40pm Dec 18, 2006 2:40pm
sorry for the spelling and english I am getting very tiried and need to get some sleep.
  • #2,366
  • Dec 18, 2006 2:46pm Dec 18, 2006 2:46pm
Quoting dobbie11
Here is the template for Meta Trader. Remebr the Stoch is used for exit only. When u r long and it is over 80 and starts turn return and god below 80 get out and the same with a short but the lower part. Other then that forget it is their. Sam os a friend of mind and I sent him a copy thats why it is named sam.

Why don't you start a new thread on your system so we can keep this thread focused on GBP/USD trading rather than "system trading". Thanks.
  • #2,367
  • Dec 18, 2006 2:46pm Dec 18, 2006 2:46pm
Quoting dobbie11
Here is the template for Meta Trader. Remebr the Stoch is used for exit only. When u r long and it is over 80 and starts turn return and god below 80 get out and the same with a short but the lower part. Other then that forget it is their. Sam os a friend of mind and I sent him a copy thats why it is named sam.
thanks a lot for your help to a new trader.
  • #2,368
  • Dec 18, 2006 2:48pm Dec 18, 2006 2:48pm
Well I have not used it on the hour. I use the Guppy System along with part of the Vegas tunnel. On the Stoch if u r in a short and it is under 20 that is good, if it starts coming up over 20 check the movement of the RSI AND MACD. If itlooks like itis turning get over. Same with the Stoch over 80 with a long. Stcoh is over rated when it comes to getting in when it is over sold or over brought. You might want to get in when it is over sold or over brpoght. But that is another system. Not this one
Quoting yulvme
I assume you mean to exit if stoch is at 20 if it's a short?

It looks better on the 1 hr chart, at least you don't get as many fake signals! just my thoughts..Plus, the spread will hurt you if you're just catching 5-10 pips.. on my GBP the spread is 5 pips.. so, ur system for me at least would benefit on the hour chart rather than 1min or 5min chart.. Thanks for the idea..
  • #2,369
  • Dec 18, 2006 6:18pm Dec 18, 2006 6:18pm
hello people, sorry for posting this about fx managed accounts! I am going on holiday soon and I wont have access to the internet for quite some time, can you guys tell me which broker to use for managed fx accounts please?

Please send me an email or just reply here.........please also tell me their potential returns!

Thanks for your time
  • #2,370
  • Dec 18, 2006 7:20pm Dec 18, 2006 7:20pm
I think we hit the top here at 9495ish. London open should give GBP another whacking...
  • #2,371
  • Dec 18, 2006 7:35pm Dec 18, 2006 7:35pm
Seems like the weekly pin on the GbpUsd is playing out.
Attached Image
  • #2,372
  • Dec 18, 2006 8:38pm Dec 18, 2006 8:38pm
Ola all,

Good trade for you all today..

Parlenk
  • #2,373
  • Dec 18, 2006 8:57pm Dec 18, 2006 8:57pm
When I say playing out that does not mean it is letting up. Meaning the first day of the week is playing out according to the weekly pin which is indicating a continual down trend.
  • #2,374
  • Dec 18, 2006 9:33pm Dec 18, 2006 9:33pm
actually I need to correct myself on the weekly pin in order for it to be a weekly pin it would have needed to higher then the previous week. I followed up with it on James 16 thread and thats what I came up with. So I stand corrected.
  • #2,375
  • Dec 18, 2006 10:08pm Dec 18, 2006 10:08pm
Everything indicating south for cable now. Projecting toward 9432 area. Which is close to someone else stating the 2nd profit area.

Good luck everyone! Happy trading
  • #2,376
  • Dec 18, 2006 10:47pm Dec 18, 2006 10:47pm
Quoting yulvme
Everything indicating south for cable now. Projecting toward 9432 area. Which is close to someone else stating the 2nd profit area.

Good luck everyone! Happy trading
I think the target could be (Should GBP/USD price action suggest a break from today's low) as low as 9340. Price would need to take a break from that point, and if it is hit it should cause a very big bounce. I wouldn't be surprised to see London take the Pound down 100 pips or more, but it all depends on how London opens and what price action says. Good Luck!
  • #2,377
  • Dec 18, 2006 11:16pm Dec 18, 2006 11:16pm
Im hoping some of you can help me. Im pretty new to the forex. I only trade with the signals I get and have no way of calculating the market. I would love to learn the elliot wave pattern but it seems a lil difficult.

What time is the London open? I have heard some of you say wait for the london open or New york....What time do those occur. I live in Orlando, Fl eastern time. Thank you very much everyone and good luck!
trading on demo is not trading
  • #2,378
  • Dec 18, 2006 11:22pm Dec 18, 2006 11:22pm
hi all,

Let's try to catch the frankfurt and london open range today
Hope to get some pips today too :-)

VyNNeR
  • #2,379
  • Dec 18, 2006 11:28pm Dec 18, 2006 11:28pm
Quoting enzo2325
Im hoping some of you can help me. Im pretty new to the forex. I only trade with the signals I get and have no way of calculating the market. I would love to learn the elliot wave pattern but it seems a lil difficult.

What time is the London open? I have heard some of you say wait for the london open or New york....What time do those occur. I live in Orlando, Fl eastern time. Thank you very much everyone and good luck!
London Open= 3:00am ET
NY Open= 8:30am ET

As far as training... The best way to learn is to sweat through it... Nothing worthwhile is easy. You can do it!

Here's a simple system to learn: http://www.forexfactory.com/forexfor...ad.php?t=10337

Best to learn the basics... Just learn to use a Moving Average crossover and begin working with Fib levels for turning points. There are MANY other things you can learn but if I have advice it's this: Keep it simple, Don't overleverage, and Make more than you loose. A good way to begin (most won't take the time to do this) is to find a system or method that suits you and use it in a demo account and once you have a method that is working use Money Management to make it better. Once you can be consistant in bringing in the pips and you feel comfortable begin using real money (Begin with VERY small lots and phase it up as you get used to trading with real money and dealing with emotions).
  • #2,380
  • Dec 18, 2006 11:30pm Dec 18, 2006 11:30pm
Quoting VyNNeR
hi all,

Let's try to catch the frankfurt and london open range today
Hope to get some pips today too :-)

VyNNeR
I would like to see London drive it up to 9500-9530 to kill the stops and then turn back. My target price (Sell) is 9530 so I guess we'll see what price wants to do.

Let's hope for the London "V".
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