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Cable Update (GBPUSD)

  • #50,981
  • Jan 24, 2008 4:11pm Jan 24, 2008 4:11pm
American and Englishman arguing about comprehending English - LOL!

Reminds me of professor Higgins...
  • #50,982
  • Jan 24, 2008 4:16pm Jan 24, 2008 4:16pm
Quoting AmeriTrini
1/4 of my profit target, and my profit target is usually BIG, I dont scalp!!
thats a very good risk to reward ratio..i placed a trade and have my stoploss 100 pips away ..hopefully it will lead to me not seeing my stoploss ..lol
  • #50,983
  • Jan 24, 2008 4:18pm Jan 24, 2008 4:18pm
Quoting nAVIN2007
AmeriTrini can i ask what u usally have as a stop loss limit for your trades in general? ....i think i have to learn how to trade like u guys?
In the first place, you have to listen to basic rules, like following trend and not overtrading.

You said somewhere above that you lost today. But today it was just one way ride, should you place your trades in trend direction, you couldn't have lost. That means that you were trying to catch trend reversal, which did not come. I think that only the most skilled and rich traders could perhaps afford this...
  • #50,984
  • Jan 24, 2008 4:19pm Jan 24, 2008 4:19pm
Navin, yea 1 point is lots more than that your entry is no good or your just on wrong side
"Millionaires don't use astrology, billionaires do"
  • #50,985
  • Jan 24, 2008 4:20pm Jan 24, 2008 4:20pm
Quoting nAVIN2007
thats a very good risk to reward ratio..i placed a trade and have my stoploss 100 pips away ..hopefully it will lead to me not seeing my stoploss ..lol
i hope so, or you will have a very big loss!
i've learned that to be a great trader, dont keep track of winnings, but keep track of losses. if you minimize your losses, winning will be inevitable.....
  • #50,986
  • Jan 24, 2008 4:25pm Jan 24, 2008 4:25pm
Quoting JanPoko
In the first place, you have to listen to basic rules, like following trend and not overtrading.

You said somewhere above that you lost today. But today it was just one way ride, should you place your trades in trend direction, you couldn't have lost. That means that you were trying to catch trend reversal, which did not come. I think that only the most skilled and rich traders could perhaps afford this...
yep i was stupid today i did everything correct ...caught the trend entered in the perfect place but like all new wanna be traders i got 25 pips exited 80% of position and then exit the rest like 15 later..I tried scalping after that mainly against the trend to get profit and it all went wrong from there.
I have realised its best just to enter (in direction of trend) and leave it alone. i wanna try this now and learn as its less headache..
  • #50,987
  • Jan 24, 2008 4:26pm Jan 24, 2008 4:26pm
look, its retracing now, so i could enter, but no............i will enter, when i see a bounce!!
  • #50,988
  • Jan 24, 2008 4:28pm Jan 24, 2008 4:28pm
AmeriTrini ,would just like to say thanks for giving me heads up on direction today made me think about my weekly down trendline ,you are a bit argumentive ,but I am warming to you,keep it up
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,989
  • Jan 24, 2008 4:29pm Jan 24, 2008 4:29pm
Quoting AmeriTrini
i hope so, or you will have a very big loss!
i've learned that to be a great trader, dont keep track of winnings, but keep track of losses. if you minimize your losses, winning will be inevitable.....
thats very true....
  • #50,990
  • Jan 24, 2008 4:31pm Jan 24, 2008 4:31pm
Quoting Bones
AmeriTrini ,would just like to say thanks for giving me heads up on direction today made me think about my weekly down trendline ,you are a bit argumentive ,but I am warming to you,keep it up
WELCOME!!
Hope you made lots of pips!!!!...............
  • #50,991
  • Jan 24, 2008 4:31pm Jan 24, 2008 4:31pm
Quoting AmeriTrini
look, its retracing now, so i could enter, but no............i will enter, when i see a bounce!!
always in the direction of trend right!!!! and never against
  • #50,992
  • Jan 24, 2008 4:33pm Jan 24, 2008 4:33pm
Quoting nAVIN2007
always in the direction of trend right!!!! and never against

, yes sir!!
  • #50,993
  • Jan 24, 2008 4:37pm Jan 24, 2008 4:37pm
Quoting OrionsWay
Navin, yea 1 point is lots more than that your entry is no good or your just on wrong side
Im gonna learn this... its all about retracements and correct entery in the direction of trend and mechanical head
  • #50,994
  • Jan 24, 2008 4:59pm Jan 24, 2008 4:59pm
Quoting AmeriTrini
WELCOME!!
Hope you made lots of pips!!!!...............
yes
done ok out of my triangle shorts overnight and break of 1.9700,still open minded on weekly bar until tomorrow night ,probably would not have taken the the break of 1.9700 if i had not had chat with you

as always i am open minded looking for other more experianced traders opinions to help me become successful

Im not trying to copy just learn my own style what suits me ,im naturally a scalper but busy trying to learn long term trades
as i say I appreciate your time to post here
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #50,995
  • Jan 24, 2008 6:44pm Jan 24, 2008 6:44pm
Quoting nAVIN2007
thats a very good risk to reward ratio..i placed a trade and have my stoploss 100 pips away ..hopefully it will lead to me not seeing my stoploss ..lol
100 pip stop loss on the cable, Yikes!! What kind reward are you expecting with that much risk? You should be able to figure out that your trade is not working long before that. Maybe a 100 pip stop loss on GBPJPY, that can easily move 500 pips in a day(like yesterday). But on the cable, you cant really call 100 pips a STOP loss, because by then...You've already lost it!!
  • #50,996
  • Jan 24, 2008 6:44pm Jan 24, 2008 6:44pm
Quoting nAVIN2007
check email

hello nAVIN.. i got your email... thank you.
but, unfortunately it can't be download...
it said that the site can't be found or try it again later...
i've try for several times... would you mind to sent it again...?
thank you nAVIN...
Never Give Up.....
  • #50,997
  • Edited 7:21pm Jan 24, 2008 7:19pm | Edited 7:21pm
http://img341.imageshack.us/img341/2028/skyson55yj4.gif

Today we go test ....

Resistence = 1.978

Next Resistence = 2.000 >> 2.007
  • #50,998
  • Jan 24, 2008 8:20pm Jan 24, 2008 8:20pm
What a scaring quiet. It might have a big storm tonight.
Waiting for the storm coming....
  • #50,999
  • Jan 24, 2008 8:26pm Jan 24, 2008 8:26pm
Check this out guys, we might be getting ready for a big drop. Get your shorts ready
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  • #51,000
  • Jan 24, 2008 8:47pm Jan 24, 2008 8:47pm
Quoting DBallerz
Check this out guys, we might be getting ready for a big drop. Get your shorts ready

That may be correct. If we do see a drop, I'm seeing support at 1.9620/30 area. I'm also see overbought signals with both the RSI and Stochastics on several time frames.

However, there is a chance we may see an upward breakout with the stock markets performing well.
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