Cable Update (GBPUSD) | Page 2787 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #55,721
  • Feb 25, 2008 11:10am Feb 25, 2008 11:10am
uhmm this pair backfired but could not break above 1.97, a good sign is gu finding sellers, 1.9560 seems a strategic zone.

in the moment another pair great for taking into account is ucad.
probably, nice entries
  • #55,722
  • Feb 25, 2008 11:27am Feb 25, 2008 11:27am
There is this strange but real thing I noticed - when I am in a trade, if I look at the chart, the price goes against me!!! Does any one have similar experience??



Quoting acidguy
uhmm this pair backfired but could not break above 1.97, a good sign is gu finding sellers, 1.9560 seems a strategic zone.

in the moment another pair great for taking into account is ucad.
probably, nice entries
  • #55,723
  • Feb 25, 2008 11:29am Feb 25, 2008 11:29am
I find if I sit here looking at the chart, nothing happens , flat line, I go to the loo or something for 2mins get back and it's ran up 30pips and came straight back down to where it was, hovering around 0pips profit
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,724
  • Feb 25, 2008 11:35am Feb 25, 2008 11:35am
i know what u guys mean its like the man upstair is playing with us..
  • #55,725
  • Feb 25, 2008 11:37am Feb 25, 2008 11:37am
He knows where your limit order is though and misses it by 1pip perfect everytime.

But if it was easy, we'd all be billionaires SOB SOB.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,726
  • Feb 25, 2008 11:43am Feb 25, 2008 11:43am
Quoting shiva
There is this strange but real thing I noticed - when I am in a trade, if I look at the chart, the price goes against me!!! Does any one have similar experience??

there are trend traders and counter traders.

for some reason most of the big guys in the financial sectors are counter traders. just look at some blogs at big financial investors and you will see how they trade.

in my opinion in counter trading there is a big chance price goes against you for some time, but at the end you have more chance to escape if things goes bad, or exit with a nice profit.

as George Soros said 1 time, we buy on falling stocks not on rising ones.
  • #55,727
  • Feb 25, 2008 11:46am Feb 25, 2008 11:46am
Quoting Turveyd
He knows where your limit order is though and misses it by 1pip perfect everytime.

But if it was easy, we'd all be billionaires SOB SOB.
isnt it funny how the price seem to be magnetic to stop loss thou
I laugh otherwise i might cry
Sometimes i consider place trades long term to lose, i might be more successfull..lol
  • #55,728
  • Feb 25, 2008 11:54am Feb 25, 2008 11:54am
AcidGuy, I'm a top notch counter trend trader ( means I'm standing still but not losing my arse )

I'm trying to become a trend trader, but although I can do it in demo and normally make alot of virtual $$$'s, real account lack of confidence despite it being safer means I wuss it.

Bad teachings from when I started, too much wanting that perfect bottom, cost me dear!!



My longs woulda worked for small pips, but also wussed
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,729
  • Feb 25, 2008 11:56am Feb 25, 2008 11:56am
It is funny reading the post. I believe that every trader has been here before. What it all comes down to is trying to make something happen when nothing is happening. This is being impatient. The key to trading is really very simple. Learn the S&R, the Fibs ( retracements & Extensions - both are important ), Price action, Elliot Wave, channels and how to drawn them correctly and which even indicators you may use. I like Stochastics, Rsi off chart and Bolinger bands on chart ( but learn how to use them ). What I mean is cross overs work 50% of the time so you need to understand what they really are telling you. Understanding all this and you can project price and levels so you may buy and sell at more profitable levels instead of buying at a top and selling at a bottom or buying or selling when we are in a consolidation. Once you have really gotten this then you can be more patient and set a SL and a TP and walk away. Unless you get a bit bored and want to scalp a little like me along with longer term trades.
  • #55,730
  • Feb 25, 2008 11:59am Feb 25, 2008 11:59am
Navin, years back trading futures when I had some money

I'd clicked the wrong button Short instead of long, the market was flying, sat here pinned to the chart +200pips area YES, hadn't put a stop in no need, checked my account and margin called for 100pips $500 arrghhh.


Current theory is, using my range system, as it's good but never 100% accurate, move stop from 15pips to 30pips, average down at -15pip area, removing the need to be some point perfect on the entry and either getting stopped or missing a good trade.

After all, none of us can see the future so trying to be perfect is likely a bad bet.


GBP SELL PRESSURE HERE!!! Short ?? Maybe ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,731
  • Feb 25, 2008 12:10pm Feb 25, 2008 12:10pm
it comes down to discipline and how u deal with pips when it goes in the other direction at the end of the day ..Im still on demo, going to go live in april hopefully i dont change to much...but one thing is for sure mm rules i will apply and this hopefully will be the key to winning

I will only know once i actually go live but ive been practicing non stop for 3 months and have worked very hard to try and learn this trade....it should pay off
  • #55,732
  • Feb 25, 2008 12:19pm Feb 25, 2008 12:19pm
Good luck Navin, hope your starting with a $1 account when you do start.

I'm nearing 3 1/2 years ( on and off mainly off ), mixed demo and $1 live, getting there my trade stat history is improving so vaguely profitable, down $1500 since started so treating as a hobby really.

It's time to take it seriously though ( I'm skint ), so plan to add enough money to care about and give it a proper try out. ( problem being I'm skint LOL )

I'm a demo millionaire though be warned, if you can trade real $$$'s the same without fear or caring like with a demo account you've got it made, FEAR is the enemy !!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,733
  • Feb 25, 2008 12:31pm Feb 25, 2008 12:31pm
Quoting Turveyd

I'm a demo millionaire though be warned, if you can trade real $$$'s the same without fear or caring like with a demo account you've got it made, FEAR is the enemy !!

Thats just it...believe me im on a demo but trade totally on analysis of charts and only look at the pips. i cancel trades all the time if i think there going to lose me money..i would nothing different if account was live, trade same lot sizes everything...i just trying to get to the stage where i look at daily candle predict direction, add sl and tp.....and leave it alone

I still have a long way to go...but am getting there
  • #55,734
  • Feb 25, 2008 12:38pm Feb 25, 2008 12:38pm
Sounds good.

My account size forces a more day trader scalping type system sadly, which is what I've never really been good at, but I like a challenge.

Ahhhh too be a millionaire already, wouldn't need to trade then
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #55,735
  • Feb 25, 2008 12:56pm Feb 25, 2008 12:56pm
Quoting Turveyd
Sounds good.

My account size forces a more day trader scalping type system sadly, which is what I've never really been good at, but I like a challenge.

Ahhhh too be a millionaire already, wouldn't need to trade then
They do that - soros is a billionaire many times over and still trades

I reckon it would get worse after the first billion and sleep would be unthinkable

Got my trading books ready for the flights from tampa to chicago and on to england on saturday ...when i get back i will be invincible after 22 hours reading advanced technical analysis - er hum !

come on cable and lets do a 1.98
  • #55,736
  • Feb 25, 2008 1:12pm Feb 25, 2008 1:12pm
Die cable die!!

Quoting allserene
They do that - soros is a billionaire many times over and still trades

I reckon it would get worse after the first billion and sleep would be unthinkable

Got my trading books ready for the flights from tampa to chicago and on to england on saturday ...when i get back i will be invincible after 22 hours reading advanced technical analysis - er hum !

come on cable and lets do a 1.98
  • #55,737
  • Feb 25, 2008 1:15pm Feb 25, 2008 1:15pm
Quoting shiva
Die cable die!!
....im fedup of this currency..
  • #55,738
  • Feb 25, 2008 1:41pm Feb 25, 2008 1:41pm
Quoting nAVIN2007
....im fedup of this currency..
we all are but were else can u c a currency making between 100 and 200 pips daily????????????????????????????????????????????????????????????????????
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #55,739
  • Feb 25, 2008 2:11pm Feb 25, 2008 2:11pm
Try the Geppy

Quoting salah k.
we all are but were else can u c a currency making between 100 and 200 pips daily????????????????????????????????????????????????????????????????????
  • #55,740
  • Feb 25, 2008 2:24pm Feb 25, 2008 2:24pm
Quoting shiva
Try the Geppy
u got me there
but i have realized there is something that has much more volatility than both combined.
silver future i mean a while back it made a bit more than a 1000 pips in one day when it kept fallin to 11.000 then it sored back to 11.500 (all in one day thats 1500 pips). each 2 pips make the profit of 1 in gbp/usd but even so its still more.
incredible eh. i just couldnt analyze it well enough as it is really unpredictable and driven mostly by fundamentals, oil, and gold.
"what doesn't bankrupt me, makes me stronger" modern nietzche
632 traders viewing now, 4 are registered:
,
smtchris71
,
,
CrazyTrades