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Cable Update (GBPUSD)

  • #56,781
  • Mar 1, 2008 5:30pm Mar 1, 2008 5:30pm
Hey Navin, when you no longer find trading interesting, thats when you've cracked it as a trader as the emotion will be gone.

The problem is, when the emotion is gone and the thrill of the trade, despite the money will you still want to trade ??

I cracked trading stocks years back, got bored and gave it up, which still seems kinda strange, hoping I don't give up on Forex once cracked!!!


p.s. no predictions on market direction, 1/2 will say the 1 way, 1/2 will say the other and 1/2 of you will be right, jump on the direction it's moving preferably on a pull back hope for the best, don't get greedy or scared and thats it really, only how you choose to view the direction differs.

K.I.S.S Keep It Simple Stupid!!!!

Try making it any more complicated and you will fail end of story!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,782
  • Mar 1, 2008 7:41pm Mar 1, 2008 7:41pm
Solved my going to the loo and missing a 30pip run which goes straight back to where it started problem, with technology

Borrowed a unused Palm pilot with Wi-fi off a mate, using VNC i can watch the chart from anywhere in the house / garden, so can watch TV in the front room or what ever.

Useable to close or open a trade aswell, if I really have to!! ( kinda slow moving around my 2 screens )

Love it

test yep works
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,783
  • Mar 1, 2008 11:13pm Mar 1, 2008 11:13pm
Quoting Abuawad
Here is a summary of February performance
Which make the total : + 894 pip
That greats wow!!! I normaly get in right but get out too early thereby missing a lot of pips. Your targets have helped me this week to achieve my best pips ever for a weeks trade. Thanks and keep them comming
  • #56,784
  • Mar 1, 2008 11:16pm Mar 1, 2008 11:16pm
Quoting Runway Trade
That greats wow!!! I normaly get in right but get out too early thereby missing a lot of pips. Your targets have helped me this week to achieve my best pips ever for a weeks trade. Thanks and keep them comming
you should be learning something so you can be in his shoes and don't have to rely on another trader trade calls. this is not how you make a living in this business.
If I Go Broke Trying Then I Will die happy.
  • #56,785
  • Mar 2, 2008 12:55am Mar 2, 2008 12:55am
Good Day

i hope 4 all trader good trades in march and i watch monthly chart i found 2 doji candle ... which mean something gonna to happen and i also add monthly pivot , support & Resistance
Attached Image (click to enlarge)
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Attached Image
  • #56,786
  • Mar 2, 2008 3:19am Mar 2, 2008 3:19am
Word has it the USD is gonna be bought heavily... hmm.... anyways I've Sold the Pound at 9814 my first TP is gonna be at 9730 for now, lets see how this roles.
And your mouth dropped
  • #56,787
  • Mar 2, 2008 3:23am Mar 2, 2008 3:23am
I guess this is why in the future i shouldnt carry trade from friday into monday ...I can it go up to 2.0 area but at the same time also 1.95 at least. Its all about confirmation break of support or resistance.

I guess i have to wait and see but if the price does go into 2.0 something area...I gonna open my live account as a get more chips to play with for my £
good luck guys ..
  • #56,788
  • Mar 2, 2008 3:27am Mar 2, 2008 3:27am
Quoting Turveyd
Solved my going to the loo and missing a 30pip run which goes straight back to where it started problem, with technology

Borrowed a unused Palm pilot with Wi-fi off a mate, using VNC i can watch the chart from anywhere in the house / garden, so can watch TV in the front room or what ever.

Useable to close or open a trade aswell, if I really have to!! ( kinda slow moving around my 2 screens )

Love it

test yep works
this is your problem buddy ...your being distracted bud....if u treat like a hobby it will be, if u treat it like a business...it will earn u money like a crazy ...hopefully
  • #56,789
  • Mar 2, 2008 5:20am Mar 2, 2008 5:20am
Quoting salah k.
hey bones how r u buddy ?
i wanted to ask u a question
if we brake that support line of urs it seems that we might be heading dead on to 9600 in a couple of days?
do u have that view as well?
If price hit 9600 ill eat my hat, if I had one

Seriously guys I am on a learning journey myself if you want to learn from someone there are much better threads and traders to learn from take a look round.
Attached Image (click to enlarge)
Click to Enlarge Name: weekly photo.gif Size: 25 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #56,790
  • Mar 2, 2008 5:48am Mar 2, 2008 5:48am
Quoting Moe
you should be learning something so you can be in his shoes and don't have to rely on another trader trade calls. this is not how you make a living in this business.
100% agree with you
  • #56,791
  • Mar 2, 2008 10:54am Mar 2, 2008 10:54am
Quoting Runway Trade
That greats wow!!! I normaly get in right but get out too early thereby missing a lot of pips. Your targets have helped me this week to achieve my best pips ever for a weeks trade. Thanks and keep them comming
Why are you on this thread to pass time? No, looking for information not so? I alone make my trade nobody, does it for me. I just use all the information sources I can get like anybody else! If that is not the way to trade then sorry, but no man is an island onto himself. All I do is listen to all, take what I need and make my own trade. Is that wrong? Every now and then I even use something you say Moe! (that's a joke, no offence) Thanks to all who input here we all still learing as everything changes everyday! Happy trading
  • #56,792
  • Mar 2, 2008 11:08am Mar 2, 2008 11:08am
Quoting Turveyd
Hey Navin, when you no longer find trading interesting, thats when you've cracked it as a trader as the emotion will be gone.

The problem is, when the emotion is gone and the thrill of the trade, despite the money will you still want to trade ??

I cracked trading stocks years back, got bored and gave it up, which still seems kinda strange, hoping I don't give up on Forex once cracked!!!


p.s. no predictions on market direction, 1/2 will say the 1 way, 1/2 will say the other and 1/2 of you will be right, jump on the direction it's moving preferably on a pull back hope for the best, don't get greedy or scared and thats it really, only how you choose to view the direction differs.

K.I.S.S Keep It Simple Stupid!!!!

Try making it any more complicated and you will fail end of story!!!
Intresting comment how you cracked stocks and got bored of it.

Isn't that what we all aspire to as traders .. to find the perfect system.

Imagine how many others you could help if you were making millions a year.

There are lots of places in the world that could benefit from simple things like a school , or running water , or irrgation systems for the farmland.

I just found your comment very thought provoking...

I love your last statement ... KISS

traidng is so simple....when you think of it as being simple. I have seen so many complicated systems on these forums and wonder WHY ? If gpbjpy is at 210 and it breaks below 210 support it is a short .. isn't it that simple ? The thing is to manage the risk.

WHY so many complicated systems is simple ...
1) people want to look like Gurus when they make 600 - 1000 pips per month as it boosts their ego. 100 -200 per day is easy in gbpjpy ... take Friday a bear flag on the 5 min ... trade the boundries of the flag up and down for a 400 pip day.
2) People want to sell you something . In flashing lights ' Make 300 pips a month ... only $600 sign up fee" or "how I turned 10,000 into 500,000 in a year".

Average Joe , with a simple sytem , with 1,000 can make 300 per day = $72,000 per year , obviously as the months go by your position size would increase till you are trading 20 lots x 30 pips a day. Is it that hard to turn 10,000 into 100,000 to 500,000 in a year. No not really.
Blogging daily now at www.volume.zone
  • #56,793
  • Mar 2, 2008 11:10am Mar 2, 2008 11:10am
Quoting deboooo2005
Good Day

i hope 4 all trader good trades in march and i watch monthly chart i found 2 doji candle ... which mean something gonna to happen and i also add monthly pivot , support & Resistance

doji on daily as well. lots of risistance at @ 1.9900!
  • #56,794
  • Mar 2, 2008 11:30am Mar 2, 2008 11:30am
Quoting Runway Trade
doji on daily as well. lots of risistance at @ 1.9900!
4 hour looks like perfect bull flag, with a bullish 10 / 20 and 50 sma stack ( when the 10 is over the 20 and 20 over the 50).

A break of this flag is at 1.9900.

I would post a chart but seem unable to upload pictures right now.
Blogging daily now at www.volume.zone
  • #56,795
  • Mar 2, 2008 12:22pm Mar 2, 2008 12:22pm
Quoting allserene
I will carry out an extensive survey of customer spending in english curry houses and pubs and report back in 10 days. If you want to support this valuable survey you can send 10 roubles in cash to the G W Bush foundation for the advancementing of knowledgeness, stone mountain , georgia !
I like your style very much, mr. allserene.

Enjoy your european trip.
  • #56,796
  • Mar 2, 2008 1:00pm Mar 2, 2008 1:00pm
Malcolm, I was playing the game for the challenge pretty much and yes millions would be good, sadly I was along way off that, think $10K tops, but i was spending 12hours per day with research glued to the charts and most of the weekend also researching, more of a swing system back then which i could do 1 - 5day holds ( couldn't daytrade to save my life, hence my interest in a more day trade style currently for the challenge and struggling )


I like the get in get out 30mins later, suites my life style more aswell, stocks where a full time watch the pre trade, watch the ext trade bla bla bla hassle.

Plus I stopped that 6years ago, after trading for 3years never had the funds to get started after blowing the account on high risk options

Got responsibility's these days so got to beat it, stick it out and make as much money as possible, without knocking myself out ( more to life than money )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,797
  • Mar 2, 2008 1:07pm Mar 2, 2008 1:07pm
Quoting malcolmb14
Average Joe , with a simple sytem , with 1,000 can make 300 per day = $72,000 per year , obviously as the months go by your position size would increase till you are trading 20 lots x 30 pips a day. Is it that hard to turn 10,000 into 100,000 to 500,000 in a year. No not really.
Thats another question, hard enough trading at say $2 per pip, but all being well could I really trade at $200 per pip ( full lots i presume ), where a 15pip stop out = $3000, okay a 30pip profit for 6K might make it worth it, but just sounds so damn scarey.

You'll need a $200K account, before even considering $200 per pip ofcourse, but no its not beyond possibility to make 10K or even 20K per day at that level, so once cracked the million becomes easy!!

I have no plans to go above $20 per pip ever, I'll be able to safely trade $5 per pip in @3months if all goes to plan and I'm profitable.


* eccks get to $200 per pip and you could make $500K per month, maybe even the Mil *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,798
  • Mar 2, 2008 1:17pm Mar 2, 2008 1:17pm
Quoting Turveyd
Malcolm, I was playing the game for the challenge pretty much and yes millions would be good, sadly I was along way off that, think $10K tops, but i was spending 12hours per day with research glued to the charts and most of the weekend also researching, more of a swing system back then which i could do 1 - 5day holds ( couldn't daytrade to save my life, hence my interest in a more day trade style currently for the challenge and struggling )


I like the get in get out 30mins later, suites my life style more aswell, stocks where a full time watch the pre trade, watch the ext trade bla bla bla hassle.

Plus I stopped that 6years ago, after trading for 3years never had the funds to get started after blowing the account on high risk options

Got responsibility's these days so got to beat it, stick it out and make as much money as possible, without knocking myself out ( more to life than money )

I am a daytrader. I do position trade but not that often as there is WAY more pips to be made day trading. On GBPJPY Friday there was about 400. My fav pair is the beast GBPJPY. I also trade the e mini futures that make the beast look like a pussy cat. Think 150 % profit on a slow day. There was one day the dj-30 e mini moved 700 points in a day 2 weeks ago.

Beauty is .. you going to like this one ....the trading period is 4am to 9am pst .. 5 hours a day. Day trading any other time is a waste of time as you might get big movements or you might not. I look for 50 pips a day , but often get more.

I have a thread called GBPJPY scalpers. I have posted some good stuff in there on my systems. They are all very simple , nothing fancy.

A few traders used them last week and made some.

My girlfriend , who has never traded made 400 points last week on the e minis trading simple 50 simple moving average crosses. I taught her this one method to start.
Blogging daily now at www.volume.zone
  • #56,799
  • Mar 2, 2008 1:28pm Mar 2, 2008 1:28pm
Quoting Turveyd
Thats another question, hard enough trading at say $2 per pip, but all being well could I really trade at $200 per pip ( full lots i presume ), where a 15pip stop out = $3000, okay a 30pip profit for 6K might make it worth it, but just sounds so damn scarey.

You'll need a $200K account, before even considering $200 per pip ofcourse, but no its not beyond possibility to make 10K or even 20K per day at that level, so once cracked the million becomes easy!!

I have no plans to go above $20 per pip ever, I'll be able to safely trade $5 per pip in @3months if all goes to plan and I'm profitable.


* eccks get to $200 per pip and you could make $500K per month, maybe even the Mil *

I started trading 1 lot , then 2 , then 4 , now trade 10 lots. I do not believe in the 2% account rule where you only risk 2 % of your account.

Yes it is possible to turn 10 k into 400 k in one year.
Blogging daily now at www.volume.zone
  • #56,800
  • Mar 2, 2008 1:31pm Mar 2, 2008 1:31pm
Never looked at the GBPJPY before, wowsa's on the moves.

I agree on more pips to be made day trading, if your good ( I'm not YET maybe ever )

PST's -7hours so 11am - 4pm ish GMT for me, which I agree is the busy period, I need to start waking up earlier as it's normally 1pm+ before I'm awake enough to trade.

Will go find your thread later.

thanks.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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