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Cable Update (GBPUSD)

  • #55,401
  • Feb 22, 2008 6:25am Feb 22, 2008 6:25am
Quoting Big Wave Rider
Tangled between the 4hr 200 ema and a 50% pivot fibo. Damm.
Yes these are those very tricky situations..
.
  • #55,402
  • Feb 22, 2008 6:26am Feb 22, 2008 6:26am
Quoting camisa
for what's worth it i'm short too

may cable have pity on our souls!
ha
  • #55,403
  • Feb 22, 2008 6:26am Feb 22, 2008 6:26am
Quoting bullrock
. If you want I can go away to get back your fun.
lol, it wasn't that much fun, there was a lot of trash talking going on in here before you came back. glad to see you restore order.
If I Go Broke Trying Then I Will die happy.
  • #55,404
  • Feb 22, 2008 6:27am Feb 22, 2008 6:27am
Quoting salah k.
from were is it getting this momentum.
i mean if just jumped on my computer and saw technicals there would be no chance in hell i would long.
i mean its way overbought RSI 81--84 stochastics show overbought.
charts show a correction bound to happen plus its profit taking time.(end of week)

Indicators are always overbought or oversold when it trends, what if this is wave 1 of 5? are you going to sit out several hundred or thousand pips because the stochs say it's overbought? Think about it.
Just Trade It
  • #55,405
  • Feb 22, 2008 6:28am Feb 22, 2008 6:28am
Quoting Moe
altho demo, you should never overleverage like that unles it's one of your homerun trades.
stick to 1 lot then?
  • #55,406
  • Feb 22, 2008 6:30am Feb 22, 2008 6:30am
Quoting salah k.
from were is it getting this momentum.
i mean if just jumped on my computer and saw technicals there would be no chance in hell i would long.
i mean its way overbought RSI 81--84 stochastics show overbought.
charts show a correction bound to happen plus its profit taking time.(end of week)
i wound't take a chance of going long with these condition, unless you got in at the bottom of the barrel. im holding long and will jump out if price hit 1.9625, im moving my t/p up to 1.9725. good luck to all.
If I Go Broke Trying Then I Will die happy.
  • #55,407
  • Feb 22, 2008 6:33am Feb 22, 2008 6:33am
Quoting Genics
stick to 1 lot then?
yes sir, it also depends on the accuracy of your trading system and if you know all of your trade set-ups and witch one a the highest win%, every one has there own style, but just don't go in clicking buy and sell with out nowing how well your trade set-up will perform.
If I Go Broke Trying Then I Will die happy.
  • #55,408
  • Feb 22, 2008 6:34am Feb 22, 2008 6:34am
Quoting Big Wave Rider
Indicators are always overbought or oversold when it trends, what if this is wave 1 of 5? are you going to sit out several hundred or thousand pips because the stochs say it's overbought? Think about it.
i know u r probably right but i mean there r always other chances in the market plus we have UK gdp next week. i dont know wat to expect(even though im on a demo)
so i'll just sit it out and watch others' trades and analysis and figure out where they went right and where i went wrong.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,409
  • Feb 22, 2008 6:37am Feb 22, 2008 6:37am
smells like slow day damn it
  • #55,410
  • Feb 22, 2008 6:40am Feb 22, 2008 6:40am
Quoting Moe
lol, it wasn't that much fun, there was a lot of trash talking going on in here before you came back. glad to see you restore order.
Thanks I stay.
.
  • #55,411
  • Feb 22, 2008 6:44am Feb 22, 2008 6:44am
Quoting salah k.
i know u r probably right but i mean there r always other chances in the market plus we have UK gdp next week. i dont know wat to expect(even though im on a demo)
so i'll just sit it out and watch others' trades and analysis and figure out where they went right and where i went wrong.

The best way to trade a friday is to go golfing or skiing. I saw one good setup this morning and thats it, It's too late now, possible late NY sell off but those can be tricky as well.
Just Trade It
  • #55,412
  • Feb 22, 2008 6:45am Feb 22, 2008 6:45am
might be gathering steam for a final push up before exhausting this upmove for a retrace
  • #55,413
  • Feb 22, 2008 6:47am Feb 22, 2008 6:47am
Quoting Big Wave Rider
The best way to trade a friday is to go golfing or skiing. I saw one good setup this morning and thats it, It's too late now, possible late NY sell off but those can be tricky as well.
i agree, fridays suck unless there big news comming out.
If I Go Broke Trying Then I Will die happy.
  • #55,414
  • Feb 22, 2008 6:52am Feb 22, 2008 6:52am
Quoting Big Wave Rider
Indicators are always overbought or oversold when it trends, what if this is wave 1 of 5? are you going to sit out several hundred or thousand pips because the stochs say it's overbought? Think about it.
its not worth it...ppl will always look indicators,..especially the rsi...,
which is definatly the most stupid one...
and yes it can be wawe 1 of 5,...so if it is, then wawe 5 should end at 2.22...nah, i dont think so,..wawes will be less larger then in the past, me think...with exception of the euro or aussie, but both only look vulnarable...
its just money
  • #55,415
  • Feb 22, 2008 6:53am Feb 22, 2008 6:53am
genic you say you have a gbp account, so how much is a pip worth in pound on a 100k position, here in the u.s.a it worth $10usd, how does that work out.
If I Go Broke Trying Then I Will die happy.
  • #55,416
  • Feb 22, 2008 6:59am Feb 22, 2008 6:59am
one 100k lot gives 5gbp per point. your still buying 100kusd lot but it keeps your account all in gbp for convenience.
  • #55,417
  • Feb 22, 2008 7:02am Feb 22, 2008 7:02am
Quoting Genics
one 100k lot gives 5gbp per point.
ok, i see, can't forget pound is worth money then any currency in the world.
If I Go Broke Trying Then I Will die happy.
  • #55,418
  • Feb 22, 2008 7:05am Feb 22, 2008 7:05am
lol, where sitting here waiting for something big to happen, i just don't see it right now, off to breakfast.
If I Go Broke Trying Then I Will die happy.
  • #55,419
  • Feb 22, 2008 7:09am Feb 22, 2008 7:09am
yep agree with that, friday suck unless non farm out!! but that been tricky of late also, so as rule of thumb friday afternoon trade is relative cr@pshoot!!!
Trading is 80% Emotional, 20% Technical
  • #55,420
  • Feb 22, 2008 7:13am Feb 22, 2008 7:13am
Quoting Big Wave Rider
The best way to trade a friday is to go golfing or skiing. I saw one good setup this morning and thats it, It's too late now, possible late NY sell off but those can be tricky as well.
right u are a good night out will be the best trade ever.
"what doesn't bankrupt me, makes me stronger" modern nietzche
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