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Cable Update (GBPUSD)

  • #57,261
  • Mar 5, 2008 2:06pm Mar 5, 2008 2:06pm
tony how long have u been trading m8?
  • #57,262
  • Mar 5, 2008 2:09pm Mar 5, 2008 2:09pm
Quoting nAVIN2007
tony how long have u been trading m8?
Mate, if you don't mind, may I know which timeframe you are seeing the Gartley?

Thanks
  • #57,263
  • Mar 5, 2008 2:11pm Mar 5, 2008 2:11pm
Thanks everybody, i've collected some strength and got out of that hedge accepting some little losses. Let's see what tomorrow will bring us, it is still a new day.
{Promotion Removed}
  • #57,264
  • Mar 5, 2008 2:21pm Mar 5, 2008 2:21pm
Quoting mazdaz
Mate, if you don't mind, may I know which timeframe you are seeing the Gartley?

Thanks
daily chart..
Attached Image (click to enlarge)
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  • #57,265
  • Mar 5, 2008 2:24pm Mar 5, 2008 2:24pm
Quoting nAVIN2007
daily chart..
Ahh. Will have a look. Thanks
  • #57,266
  • Mar 5, 2008 2:28pm Mar 5, 2008 2:28pm
Big divergence on 15 min chart, looks ready to go up again to me, what do others think
Tom(uk)
  • #57,267
  • Mar 5, 2008 2:34pm Mar 5, 2008 2:34pm
Quoting booktimes
Big divergence on 15 min chart, looks ready to go up again to me, what do others think
Tom(uk)
thats asuming we are undersoled....the closes are still bearish and each bar close is lower than the previous....and if u look at 1hr chart we are far from undersoled ..i doubt we are going up ...it will likely fall for a bit (me thinks, im on a demo) ...cant be taken seriously .....lol
  • #57,268
  • Mar 5, 2008 2:38pm Mar 5, 2008 2:38pm
.9900 is a good S/R level
Trade what you see, not what you think.
  • #57,269
  • Mar 5, 2008 2:38pm Mar 5, 2008 2:38pm
Its personal choice but I found the only way to scalp the market was to hedge. A hedge can also be a great choice if you have no idea what is happening as it pauses the situation rather than letting the market run against you. I do not hedge now, in fact I do not even use a stop loss close to the action.

I have been looking more long term since Dec/Jan and ok the there was a transition which I found difficult but the last few weeks im finding I can apply a lot of what I have already learnt, with a lot more patience + I have also been reading reading reading.

I have been trading about 18 months, always live, and have lost way ,way more than I have ever earned. I put it down to tuition.

On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,270
  • Mar 5, 2008 2:43pm Mar 5, 2008 2:43pm
[quote=karmostaji;1886920].9900 is a good S/R level[/quot

Exactly Karmostaji
I profit took in that last 4 hr bar like a lot of other traders by the look of it ,looking to get back in long as things look very bullish to me.
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,271
  • Mar 5, 2008 2:46pm Mar 5, 2008 2:46pm
Im with you on that, I paper traded for a while but was too cavalier, it wasnt my money, I took silly trades it wasnt as if It was real money, I decided one day to trade for real and go through all the stress and it felt totally different, trading in demo and trading real time is too totally different experiences, 10% trading and 90% mental, I lost a shit load or money until I started to take it as a real job, honed it right down got rid of as many risk aspects as i could, im still not perfect but lose a lot less and as you said the money it has cost me is the cost of my education
Tom(uk)
  • #57,272
  • Mar 5, 2008 2:55pm Mar 5, 2008 2:55pm
Hi Tom ,yes education.
Also I am not sure that this would have kept my interest had I not experienced loss.
I Think Nav and Salah are doing it the correct way and if I was lucky enough to have found this forum earlier I think my loss would have been less.
I mean if you have no one to actually speak to the hill is much steeper.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,273
  • Mar 5, 2008 2:59pm Mar 5, 2008 2:59pm
I mean since I started posing in December and have been given a few pointers my learning has gone into turbo drive ,lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,274
  • Mar 5, 2008 3:11pm Mar 5, 2008 3:11pm
Quoting Bones
I mean since I started posing in December and have been given a few pointers my learning has gone into turbo drive ,lol
if someone with your skill and knowledge has lost more than u have gained thats scary for me ...damn.
I really pray that live trading isnt so difficult to demo, i think and like to think id only be more cautious and apply mm rules which i dont now..this can only help. keep fingers crossed for me m8
  • #57,275
  • Mar 5, 2008 3:19pm Mar 5, 2008 3:19pm
Quoting nAVIN2007
if someone with your skill and knowledge has lost more than u have gained thats scary for me ...damn.
I really pray that live trading isnt so difficult to demo, i think and like to think id only be more cautious and apply mm rules which i dont now..this can only help. keep fingers crossed for me m8
trading live is a totally different ball game, psychologically, mentally, emotionally, it'll be a wild rule but you need to adapt to the situation.

Experience is the best teacher.
Trade what you see, not what you think.
  • #57,276
  • Mar 5, 2008 3:21pm Mar 5, 2008 3:21pm
i just heard that exxonmobil makes 5 million $ every hour.
impressive
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,277
  • Mar 5, 2008 3:29pm Mar 5, 2008 3:29pm
Quoting karmostaji
Experience is the best teacher.
unfortunately in this business it comes at a high price.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,278
  • Mar 5, 2008 3:32pm Mar 5, 2008 3:32pm
Quoting salah k.
unfortunately in this business it comes at a high price.
The majority in forex blow up their first/second account before they learn, no matter how much you trade on demo, LIVE is different.

I can't explain it better, you've got to try it and then you'll realize.
Trade what you see, not what you think.
  • #57,279
  • Mar 5, 2008 3:33pm Mar 5, 2008 3:33pm
Quoting salah k.
i just heard that exxonmobil makes 5 million $ every hour.
impressive


Probably not from GBP trading
{Promotion Removed}
  • #57,280
  • Mar 5, 2008 3:40pm Mar 5, 2008 3:40pm
Quoting nAVIN2007
if someone with your skill and knowledge has lost more than u have gained thats scary for me ...damn.
I really pray that live trading isnt so difficult to demo, i think and like to think id only be more cautious and apply mm rules which i dont now..this can only help. keep fingers crossed for me m8
Yes Nav my friend my fingers will be firmly crossed and as I said you have a big advantage over other guys starting out and that’s everyone on this thread will be there to talk to.
Now my main loss has been from say my first year and I really have had bad days chasing them losses. I believed I could just do this and I was proved wrong. It’s always the same when you start something new it seems daunting but as time goes on things unravel and become easier. When you do decide to go live you must trade the smallest lots you can for the first few months as the experience will change from demo.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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