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Cable Update (GBPUSD)

  • #56,941
  • Mar 3, 2008 1:17pm Mar 3, 2008 1:17pm
USDJPY is abit more lively, good short odds here!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,942
  • Mar 3, 2008 1:26pm Mar 3, 2008 1:26pm
just shorted usd/jby as i type.
  • #56,943
  • Mar 3, 2008 1:29pm Mar 3, 2008 1:29pm
Quoting Turveyd
small live account Navin I trust ??? although $10 per pip would be fun for abit.

What was your score pips wise last week ??

I should have more money in the account, week after next, still $1 per pip, but can trade GBPUSD and EURUSD same time if there are trades on both, and also use the FXCM's hedging too make short term trades against the trend position I'll have, without any risk kinda, other than not making if market keeps going with the trend and doesn't give me small profit to eeck!!
to be honest i never keep track of the pips i make....im just placing trades see what happens but 8/10 trades i place are successfull....im great at scalping but lossing money when i place long term trades..last week i lost pips for the first time....its knocked my confindence a bit but i know 50 times more now....it time to start trading live and see what happens and how i cope under real live money losing conditions ..lol
gonna start with 6000$ hopefully, Im just a bit concerned cause theres a change in the market...i believe since the start of this year cable is becoming unstable and evolving.....much less trending market.
  • #56,944
  • Mar 3, 2008 1:37pm Mar 3, 2008 1:37pm
Gubster NO USDJPY Good luck!!!

Navin, $6000, seriously man, seen too many start with everything they've got, lose $500, then keep upping the lots trying to get it back and blow the entire pot in no time.

Put $2000, thats enough margin to trade $1 per pip well easy, then add $1000 to suite depending on how well it's going.

It's a safe guard for it all going pear shaped.

* if 6K is chicken feed to you, then ignore above *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,945
  • Mar 3, 2008 1:47pm Mar 3, 2008 1:47pm
My system favours chop, well I've got a trend system aswell which is where I've been failing, but think I've cracked the trend side.

So if GBP chops more like it was last week, I'll be very happy!!

Its when Chop turns into trend with strength where I lose most of my $$$'s.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,946
  • Mar 3, 2008 1:53pm Mar 3, 2008 1:53pm
Quoting Turveyd
Gubster NO USDJPY Good luck!!!

Navin, $6000, seriously man, seen too many start with everything they've got, lose $500, then keep upping the lots trying to get it back and blow the entire pot in no time.

Put $2000, thats enough margin to trade $1 per pip well easy, then add $1000 to suite depending on how well it's going.

It's a safe guard for it all going pear shaped.

* if 6K is chicken feed to you, then ignore above *
believe me....i have thought about this a lot....i will trade 0.1 lot sizes till im comfortable...then as i win money i will only risk the money i win..on trade that i think are 100%....perfect enteries...i will not touch the money i make from trading account, just keep it compounding...the more money u have in the trading account the more u can make...each trade i will only risk 1%....
  • #56,947
  • Mar 3, 2008 1:56pm Mar 3, 2008 1:56pm
all sounds good Nav. But you seem too confident about these 100% trades and thats where the market will gobble you up!! lol

If you so sure about 100% trades then stick 6000 on it!!
and let me know too lol
godd luck man!!
  • #56,948
  • Mar 3, 2008 1:57pm Mar 3, 2008 1:57pm
Quoting nAVIN2007
to be honest i never keep track of the pips i make....im just placing trades see what happens but 8/10 trades i place are successfull....im great at scalping but lossing money when i place long term trades..last week i lost pips for the first time....its knocked my confindence a bit but i know 50 times more now....it time to start trading live and see what happens and how i cope under real live money losing conditions ..lol
gonna start with 6000$ hopefully, Im just a bit concerned cause theres a change in the market...i believe since the start of this year cable is becoming unstable and evolving.....much less trending market.
I day trade currency futures ( less commission than forex) and more regulated.

To a scalper it does not matter what the overall trend is doing or if there is a market collapse coming. I as a scalper will spend the least time in the market as possible for maximum gains.

I traded a little GBP this morning and a lot of YM (dj-30 e mini .. this has move over 300 points today so far). I spent only 1.5 hours in the market to make 60 pips gbp and 120 pips dj

Good luck on your live account .. do not forget to manage the risk when scalping. It is not the wins that will make you profitable but the managing the risk that will ...you might have 10 great scalps only to get them taken back on 1 trade with poor stop loss management.

Good to see you are learning form your mistakes. My 1st year I lost 50,000.

I call it my tuition lol
Blogging daily now at www.volume.zone
  • #56,949
  • Mar 3, 2008 1:58pm Mar 3, 2008 1:58pm
Quoting nAVIN2007
to be honest i never keep track of the pips i make....im just placing trades see what happens but 8/10 trades i place are successfull....im great at scalping but lossing money when i place long term trades..last week i lost pips for the first time....its knocked my confindence a bit but i know 50 times more now....it time to start trading live and see what happens and how i cope under real live money losing conditions ..lol
gonna start with 6000$ hopefully, Im just a bit concerned cause theres a change in the market...i believe since the start of this year cable is becoming unstable and evolving.....much less trending market.
Good luck on going live. I believe it is the only real way to learn. I started with only $250 (after blowing two accounts +-$700) I now stick to my trading plan and strick money management. Why I started with small account is to slowly get use to the increasing money at risk. Started with 1 min lot now at one standard lot. If I cant make my $250 account $1000 dollar than $2000 how could I make $6000 or $10 000? Start small and trade it big! Just the way I see it. Good trading keep us posted!
  • #56,950
  • Mar 3, 2008 2:01pm Mar 3, 2008 2:01pm
We talking $1 per pip or 10cents per pip here ??

The problem is though, when you throw real money into the equation, fear and greed and pride take over ( well does for most including myself ), I've seen 1 lad blow 150K, 50K he borrowed on credit cards the first 100K was his parents retirement fund.


I called USDJPY well for Gubster atleast, shame I'm in wuss mode!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,951
  • Mar 3, 2008 2:02pm Mar 3, 2008 2:02pm
Quoting nAVIN2007
to be honest i never keep track of the pips i make....im just placing trades see what happens but 8/10 trades i place are successfull....im great at scalping but lossing money when i place long term trades..last week i lost pips for the first time....its knocked my confindence a bit but i know 50 times more now....it time to start trading live and see what happens and how i cope under real live money losing conditions ..lol
gonna start with 6000$ hopefully, Im just a bit concerned cause theres a change in the market...i believe since the start of this year cable is becoming unstable and evolving.....much less trending market.
Keep a trading journal . it helps.

Note why you enter a trade , your targets, . Give your trades grades.

Study the ones that got C . Those would be the losing ones.
Blogging daily now at www.volume.zone
  • #56,952
  • Mar 3, 2008 2:06pm Mar 3, 2008 2:06pm
I've got a excel spread sheet, with my profits / losses with 2 charts 1 account value another a view of profits/losses with bars.

I also have 2 columns i put a 1 into if it's a win or the other for a lose, so no my total wins and losses.

I'm 50/50 at the moment

I find the chart most useful to see how my trading performance is going or isn't and it stops you/me making the same mistake repeatedly in theory atleast
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,953
  • Mar 3, 2008 2:09pm Mar 3, 2008 2:09pm
Gubster, don't get greedy 102.90 area at best
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #56,954
  • Mar 3, 2008 2:09pm Mar 3, 2008 2:09pm
thx guys for the support ....i just think it realy difficult to trade when u have small account..it doesnt give much room for error. the stop losses wont be huge. A large account with just 1% risk on every trade will allow me a good stop loss margin and im only interested in growing the account..

i will stick to mm rules all the way or not trade
Fo me i hope it will turn into a possible future.....i hate the job im in and thats the reason why i wanna trade and i gonna do whatever it takes. I have done everything by the book and havent jumped in head first as i cant afford to fail ...but then again i suppose its like this for every1?.....lol
  • #56,955
  • Mar 3, 2008 2:10pm Mar 3, 2008 2:10pm
Nav .... keep it simple

Here is a nice simple trade... break out of channel on a 5 min. 1.9870 target on this trade.

I played this one as I happened to be eating lunch and came across it.

Attached Image (click to enlarge)
Click to Enlarge Name: Chart5.JPG Size: 118 KB
Blogging daily now at www.volume.zone
  • #56,956
  • Mar 3, 2008 2:26pm Mar 3, 2008 2:26pm
Quoting malcolmb14
Nav .... keep it simple

Here is a nice simple trade... break out of channel on a 5 min. 1.9870 target on this trade.

I played this one as I happened to be eating lunch and came across it.

Attachment

nice one .....i will generally just go for trades that break trendlines, pivot points and use fibs.....just keep it simple!!!!
  • #56,957
  • Mar 3, 2008 2:35pm Mar 3, 2008 2:35pm
Quoting nAVIN2007
thx guys for the support ....i just think it realy difficult to trade when u have small account..it doesnt give much room for error. the stop losses wont be huge. A large account with just 1% risk on every trade will allow me a good stop loss margin and im only interested in growing the account..

i will stick to mm rules all the way or not trade
Fo me i hope it will turn into a possible future.....i hate the job im in and thats the reason why i wanna trade and i gonna do whatever it takes. I have done everything by the book and havent jumped in head first as i cant afford to fail ...but then again i suppose its like this for every1?.....lol
One thing to remember

TRADE TO TRADE WELL .... do not think about the money.

If you trade to trade well the profits roll in
Blogging daily now at www.volume.zone
  • #56,958
  • Mar 3, 2008 3:22pm Mar 3, 2008 3:22pm
Quoting malcolmb14
One thing to remember

TRADE TO TRADE WELL .... do not think about the money.

If you trade to trade well the profits roll in

yeah ..absolutely..u know since i started learning about it I discovered its like a passion for me...id do it just for the sack of doing to be honest, the fact that u can make money from it is just a bonus and lets face it to most its a fix for adrenaline....lol
  • #56,959
  • Mar 3, 2008 3:24pm Mar 3, 2008 3:24pm
Quoting nAVIN2007
this thing has no direction but the reason this morning i went long and right now im confused bro is..not sure if this is correct but does this not look like divergence which should result in us going high (north)

what yah think?....check the thick blue lines out
Looks promissing, but on the 4H it showing me down, what you have i have the oppossit! lol! lets see who the real horns is gonna win i say DOWN
And your mouth dropped
  • #56,960
  • Mar 3, 2008 3:26pm Mar 3, 2008 3:26pm
Quoting Turveyd
Remember you could flip a coin as to direction to enter and with good Money Management still make a profit.

On the positive side I have a totally 100% unique system, entirely self created
Sounds like Stacking with a coin strategy (which works people), but if its perfect, wanna share? or are you not into late christmas?

Remeber; stacking needs huge funds for big profits, also stacking envolvs a long long time to make moeny slowly.

but im curiouse Do share sir! do share
And your mouth dropped
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