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Cable Update (GBPUSD)

  • #54,821
  • Feb 19, 2008 3:46pm Feb 19, 2008 3:46pm
Quoting nAVIN2007
I hear u! ...Im hoping one day forex will be my investment, still im getting there, ive come a long way in 3 months..
Keep up and do not loose focus. Keep practising day and night and shift the focus from trying to make money to actually defending you equity.
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  • #54,822
  • Feb 19, 2008 3:53pm Feb 19, 2008 3:53pm
i quit my job at new year to take up trading FX full time
  • #54,823
  • Feb 19, 2008 3:56pm Feb 19, 2008 3:56pm
Quoting bullrock
Keep up and do not loose focus. Keep practising day and night and shift the focus from trying to make money to actually defending you equity.
I will do buddy i see is theres a lot of wisdom in that statement
damn good advise
  • #54,824
  • Feb 19, 2008 3:59pm Feb 19, 2008 3:59pm
Quoting Genics
i quit my job at new year to take up trading FX full time
Im almost thinking the same thing....but im still not ready to go live yet, i need to work on being more mechanical and my thickleness
  • #54,825
  • Feb 19, 2008 4:04pm Feb 19, 2008 4:04pm
Quoting nAVIN2007
Im almost thinking the same thing....but im still not ready to go live yet, i need to work on being more mechanical and my thickleness
I have shifted from actually being mechanical to actually "understanding" what I am doing. Trading the mass psychology...

Is like when you have 100s of tools and you know which tool an which combination works the best. This way you also adapt. It is like you have an instinct or you feel the market but actually is not but comes from 1000s of screen hours, practice and study..

Basically after a certain time you do not care about rules and mechanics but you a master of your tools and a professional who rips off the market with precision....
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  • #54,826
  • Feb 19, 2008 4:07pm Feb 19, 2008 4:07pm
The last 2 days I have scalped 200 pips out of GU alone. VERY DIFFICULT market conditions but moving averages, time frames, S/R levels, fibos, pivots, candlesticks, waves, etc etc blah blah guided me...
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  • #54,827
  • Feb 19, 2008 4:08pm Feb 19, 2008 4:08pm
one day hopefully i can achieve this..
  • #54,828
  • Feb 19, 2008 4:09pm Feb 19, 2008 4:09pm
Gotta LOVE them major support lines, 9475 in this case stayed 3-4 pips above my 9472 20 pip hedge for like an hour, looks like it's finally on the way back up
On the path to Enrichment.
  • #54,829
  • Feb 19, 2008 4:20pm Feb 19, 2008 4:20pm
stuck between a rock and a hard place ....lol
The m2 level comin like r1...its crazy!
  • #54,830
  • Feb 19, 2008 4:24pm Feb 19, 2008 4:24pm
Quoting nAVIN2007
stuck between a rock and a hard place ....lol
The m2 level comin like r1...its crazy!

2 more hours... maybe 3... but i say 2 before she jumps on someones back
And your mouth dropped
  • #54,831
  • Feb 19, 2008 4:28pm Feb 19, 2008 4:28pm
Quoting bullrock
The last 2 days I have scalped 200 pips out of GU alone. VERY DIFFICULT market conditions but moving averages, time frames, S/R levels, fibos, pivots, candlesticks, waves, etc etc blah blah guided me...
just to be nosey, what size lots do you use when scalping? as its obvisouly higher risk in these conditions. how close are your stops?

feel free to tell me to mind my own business
  • #54,832
  • Feb 19, 2008 4:55pm Feb 19, 2008 4:55pm
Quoting Genics
just to be nosey, what size lots do you use when scalping? as its obvisouly higher risk in these conditions. how close are your stops?

feel free to tell me to mind my own business
anyone wanna join the chat room and discuss?
And your mouth dropped
  • #54,833
  • Feb 19, 2008 5:01pm Feb 19, 2008 5:01pm
Quoting Genics
just to be nosey, what size lots do you use when scalping? as its obvisouly higher risk in these conditions. how close are your stops?

feel free to tell me to mind my own business
10-50 lots with 10-20 pips SL but that is theoretical I do not place them physically. I just enter the market and my hands kept on the mouse. I have realised that this game suits my personality. I just love it.
.
  • #54,834
  • Feb 19, 2008 5:03pm Feb 19, 2008 5:03pm
Usually I do not wait too much. If the market doesnt go straight in my direction I get out. I do not wait for the market to prove me right. 3-4 bars on 5 min and I get out if I do not like it. There is always chance to get back.
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  • #54,835
  • Edited 8:26pm Feb 19, 2008 5:04pm | Edited 8:26pm
...
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  • #54,836
  • Feb 19, 2008 5:04pm Feb 19, 2008 5:04pm
Quoting makey2u
anyone wanna join the chat room and discuss?
im up for it
which link ?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #54,837
  • Feb 19, 2008 5:14pm Feb 19, 2008 5:14pm
Quoting bullrock
10-50 lots with 10-20 pips SL but that is theoretical I do not place them physically. I just enter the market and my hands kept on the mouse. I have realised that this game suits my personality. I just love it.

did pritty well for yourself today then lol!
  • #54,838
  • Feb 19, 2008 5:26pm Feb 19, 2008 5:26pm
Quoting Genics
did pritty well for yourself today then lol!
Thats very heavy risk lol. 10-30% of my day trading equity... LOL but I have a 80%+ hit rate. I scalp. Basically if in profit i see if there is more room or not and get out.
.
  • #54,839
  • Feb 19, 2008 5:31pm Feb 19, 2008 5:31pm
Quoting bullrock
10-50 lots with 10-20 pips SL but that is theoretical I do not place them physically. I just enter the market and my hands kept on the mouse.
You mean you do not place Stops?
Darkness lies one inch ahead..
  • #54,840
  • Feb 19, 2008 5:33pm Feb 19, 2008 5:33pm
Quoting nAVIN2007
I just entered a short i think theres a perfect head n shoulders pattern perfect retracements to 61.8 it could lead to sharp drop which is what im thinking...any idea see daily chart..
I can see what you mean but all the H&S patterns I have seen in the past were at the top of uptrends. This one is at the bottom of a downtrend, so is it still valid?
Darkness lies one inch ahead..
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