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Cable Update (GBPUSD)

  • #57,721
  • Mar 10, 2008 5:43pm Mar 10, 2008 5:43pm
Quoting karmostaji
Yep, good MM is key

It's great to have another Muslim brother on board with us
dont 4get about me.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,722
  • Mar 10, 2008 5:45pm Mar 10, 2008 5:45pm
Quoting salah k.
i know ur right but sometimes i cant help thinking about the over exaggerated market reactions especially to the news. and with this dollar crisis its difficult to sell any currency against the dollar.
thats all im worried about truly.
I know, sometimes news comes positive and the pair sinks lol
You'll see crazy stuff in forex and sometimes you try to use common sense but it won't work, it's good to have knowledge about the fundamentals and news but it's best to stick to the chart.

I listen to news n fundamentals but I don't trade based on them.
Trade what you see, not what you think.
  • #57,723
  • Mar 10, 2008 5:46pm Mar 10, 2008 5:46pm
Quoting salah k.
dont 4get about me.
Feeling left out? LOL, good to have you with us Salah
Trade what you see, not what you think.
  • #57,724
  • Mar 10, 2008 5:46pm Mar 10, 2008 5:46pm
Quoting salah k.
i know ur right but sometimes i cant help thinking about the over exaggerated market reactions especially to the news. and with this dollar crisis its difficult to sell any currency against the dollar.
thats all im worried about truly.
do what the chart tells u ...what u are doing is thinking about everything and comming up with no trade ...keep it simple bro
  • #57,725
  • Mar 10, 2008 5:47pm Mar 10, 2008 5:47pm
My Fav system / indicator is 9EMA on a 1min chart, DO NOT bet against this short term direction pointer cause it's pretty powerful.

K.I.S.S. people
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,726
  • Mar 10, 2008 5:48pm Mar 10, 2008 5:48pm
Quoting nAVIN2007
do what the chart tells u ...what u are doing is thinking about everything and comming up with no trade ...keep it simple bro
He is confusing himself by looking at different things.

It's like one sign says left, the other says right, Salah is standing in the middle thinking
Trade what you see, not what you think.
  • #57,727
  • Edited 6:06pm Mar 10, 2008 5:53pm | Edited 6:06pm
Quoting salah k.
bones mate could u post the URL for james fan 16
http://www.forexfactory.com/showthread.php?t=2331

I mention James 16 fan only because this person has my uttermost respect its not the name of his thread Salah. Guys a lot of what he teaches is not difficult .I mean start with support and resistance .Check your charts for areas where price constantly gets rejected as resistance and when broke becomes great support and mark them as points to watch.
Take a look at what Abuawad is doing. He is essentially buying and selling off support and resistance, a very effective system.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #57,728
  • Mar 10, 2008 5:55pm Mar 10, 2008 5:55pm
Quoting Bones
http://www.forexfactory.com/showthread.php?t=2331

I mention James 16 fan only because this person has my uttermost respect its not the name of his thread Salah. Guys a lot of what he teaches is not difficult .I mean start with support and resistance .Check your charts for areas where price constantly gets rejected and when broke becomes great resistance and mark them as points to watch.
Take a look at what Abuward is doing. He is essentially buying and selling off support and resistance, a very effective system.
James teaches PRICE ACTION and that's the ultimate thing every trader must know/understand because you will be able to trade a naked chart

Listen to Bones you nice people
Trade what you see, not what you think.
  • #57,729
  • Mar 10, 2008 6:00pm Mar 10, 2008 6:00pm
Quoting karmostaji
He is confusing himself by looking at different things.

It's like one sign says left, the other says right, Salah is standing in the middle thinking
i know u r perfectly right but wouldnt it be better if both signs say left or both say right and then enter in a position???????

im not out to make a living of forex. not just yet. i need to test the market from all sides and in different environments.
and for now my aim is to pass the first month without loss to see what it feels like to trade live.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,730
  • Mar 10, 2008 6:04pm Mar 10, 2008 6:04pm
Quoting salah k.
i know u r perfectly right but wouldnt it be better if both signs say left or both say right and then enter in a position???????

im not out to make a living of forex. not just yet. i need to test the market from all sides and in different environments.
and for now my aim is to pass the first month without loss to see what it feels like to trade live.
You are just starting, take your time and try out everything, you learn forex by experimenting and going through experience, it won't get any easier.

If you need help in anything bro, just shoot me a PM.

Good luck Salah
Trade what you see, not what you think.
  • #57,731
  • Edited 6:12pm Mar 10, 2008 6:06pm | Edited 6:12pm
Coulda shoulda woulda 45pips I shoulda made Arrgghhhhhh!!!!

Last time I listen to you boys !!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,732
  • Mar 10, 2008 6:06pm Mar 10, 2008 6:06pm
Quoting salah k.
i know u r perfectly right but wouldnt it be better if both signs say left or both say right and then enter in a position???????

im not out to make a living of forex. not just yet. i need to test the market from all sides and in different environments.
and for now my aim is to pass the first month without loss to see what it feels like to trade live.
U will have losses what u have to be carefull about is the loss u get dont wip out yur wins. the first chance u see a trade going against u..cancel it..dont try and ride it till it swings your way...this game really is only about one thing mm..honestly!!!!

I hate to sound like i trade already but i know guys and have been on courses where people know so much but still lose it it all comes down to...how u manage yur losses
  • #57,733
  • Mar 10, 2008 6:07pm Mar 10, 2008 6:07pm
Quoting Turveyd
Coulda shoulda woulda 45pips I shoulda made Arrgghhhhhh!!!!

Last time I listen to you boys !!
Listen to yourself, ONLY!
Trade what you see, not what you think.
  • #57,734
  • Mar 10, 2008 6:07pm Mar 10, 2008 6:07pm
Quoting karmostaji
You are just starting, take your time and try out everything, you learn forex by experimenting and going through experience, it won't get any easier.

If you need help in anything bro, just shoot me a PM.

Good luck Salah
thnx i'll also keep u posted on my account.
good luck to u too.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #57,735
  • Mar 10, 2008 6:15pm Mar 10, 2008 6:15pm
Karm, actually last time I listen to news and create a bearish scenario LOL


6profits in a row but all SMALL, I need some +45pip moves to get this show on the road!!


* Adding more $$$'s, shortly so I'll be less worried about taking a loss and can hold things like this better *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,736
  • Mar 10, 2008 6:19pm Mar 10, 2008 6:19pm
Quoting 4x_Trader
Position long @ 2.0158 stopped @ 2.0080, stand aside....
Wow, that is tricky, 4x_T.

At the time of your post, price was ~20075. So the question arises, why not go long then and get even more profit ("Greed is good" - Gordon Gekko).

I interpret your call as: Price will only reach 20280 if it gets to 20158 first

Is my interpretation correct??
Darkness lies one inch ahead..
  • #57,737
  • Mar 10, 2008 6:50pm Mar 10, 2008 6:50pm
Quoting nAVIN2007
the first chance u see a trade going against u..cancel it..dont try and ride it till it swings your way...this game really is only about one thing mm..honestly!!!!


Correct there Navin, a issue I struggles with but i'm much much better at, most of the time flipping a coin is as good at picking the next move as anything else, it's how you react to the move when it starts to move against you is key.

Being out of the trade has the advantage you can get back in, in the opposite direction to, so you don't a) lose money and b) hopefully make money, win win ish situation.

Careful of getting wip sawed around though, exiting your long at the bottom then shorting and repeating.

Avoiding fast moving markets, where the direction is unclear is also key, you/ well I can't think fast enough to get outta harms way when required, i prefer to find a setup like the one earlier, then wuss it and sell out for small change LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,738
  • Mar 10, 2008 6:56pm Mar 10, 2008 6:56pm
If your long, continually ask yourself, would I go long here ???

If the answer comes up as NO, regardless of profit or loss, EXIT.

Continually move your stops up aswell.

I'm presently moving my stop once I see +@3 pips profit, to 1/2 the loss @7pips, theory being I just don't care about 7pips!!!

Odds are if my -77pips hits, my -13 pips will hit 80% of the time, cause my trade is just wrong, same as my 13pip stop 80% of the time these are hit a 20-25pip stop would of been hit, but thats a product of my particularl trading system. So why use more than -13 stop.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,739
  • Mar 10, 2008 7:05pm Mar 10, 2008 7:05pm
-55 expected, -64 got, does that mean a there reporting a drop in house prices ??

Volumes wild, but no direction yet, I assume thats bad news therefore Down, but yeah.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #57,740
  • Mar 10, 2008 7:11pm Mar 10, 2008 7:11pm
Im starting to buy again.
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On-site guru & also FF member's' psychiatrist, when not drinking tea
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