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Cable Update (GBPUSD)

  • #59,081
  • Mar 20, 2008 10:42am Mar 20, 2008 10:42am
Quoting Abuawad
till now from 1.9815 to 1.9770 45 pip
thats it for today i think.
  • #59,082
  • Mar 20, 2008 10:53am Mar 20, 2008 10:53am
Quoting Abuawad
till now from 1.9815 to 1.9770 45 pip
thats it for today i think.
Still a good day!

I shorted at 9820, rode it back up to 9873, with stops above the resistance line just enough to keep from being stopped out and back down to 9790 and got out.

I'm still trying to figure out adequate stop loss.. seems like 50-60 pips is needed for safety.
"I know how hard it is for you to put food on your family." George W. Bush
  • #59,083
  • Mar 20, 2008 11:14am Mar 20, 2008 11:14am
what time does the market shut today ..guys?
  • #59,084
  • Mar 20, 2008 12:32pm Mar 20, 2008 12:32pm
Quoting Bones
I do not want to be a known as a constant Long type trader and I am not in the market as i expect it to be flat or choppy for the next few days.These are the things i am watching though.
Ok so far so good on this one,waiting to near close though
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,085
  • Mar 20, 2008 12:37pm Mar 20, 2008 12:37pm
It won't close until 9am EST or something, so only over the USA's trading schedule!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,086
  • Mar 20, 2008 12:39pm Mar 20, 2008 12:39pm
Quoting Turveyd
It won't close until 9am EST or something, so only over the USA's trading schedule!!!
So what do you mean?
Im looking towards my close tonight
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,087
  • Mar 20, 2008 1:09pm Mar 20, 2008 1:09pm
the market is open till tomorrow 5-6pm ..
  • #59,088
  • Mar 20, 2008 1:11pm Mar 20, 2008 1:11pm
Quoting LuckyLurker
In roughly 20 minutes I may be entering long targeting 2.0035. 4h candle close pending.


Edit: entered long @ 1.9812 TP 2.0029 ..

Very high risk due to neg gbp data possibly.. trade with caution.

Just closed long @1.9845 .. I'll wait for a better entry later. +33 booked.

not the best easiest pips I've earned for sure.
USD Est Non Mortuus
  • #59,089
  • Mar 20, 2008 1:13pm Mar 20, 2008 1:13pm
I think 12:30pm GMT allowing for USA being on summer time already.

EU long's got a shot nearer 1.5400 if possible, stop tight!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,090
  • Mar 20, 2008 1:17pm Mar 20, 2008 1:17pm
finished down £50 for the week ...and what disappointing is a lost it all today..damnit!!..this has to be the most stressfull emotional thing i have ever done....lol ...i dunno if im cut out for this ..im very sad
  • #59,091
  • Mar 20, 2008 1:20pm Mar 20, 2008 1:20pm
Quoting LuckyLurker
Just closed long @1.9845 .. I'll wait for a better entry later. +33 booked.

not the best easiest pips I've earned for sure.

i think if u stayed in a bit longer ud have been reaped the full reward the stupid thing looks like it breakout now ..
  • #59,092
  • Mar 20, 2008 1:31pm Mar 20, 2008 1:31pm
Quoting nAVIN2007
i think if u stayed in a bit longer ud have been reaped the full reward the stupid thing looks like it breakout now ..
Maybe, but I'd rather let it make its move up, then short it after I see where it's next top is.

I closed the long because my plan only allowed it to stay open for one session. There could be some downside risk now. I never mind taking a small profit then missing out on pips when following a rule. Trading is neither fun, boring, exciting or emotional, it just is what it is, a job.
USD Est Non Mortuus
  • #59,093
  • Mar 20, 2008 1:31pm Mar 20, 2008 1:31pm
Navin, sorry to hear my warnings came true, seen it 100's of times from other newbies and also with myself still.

-£50 is nothing, outta 3K thankfully, but for the next period you will be paying to learn, got to happen sadly.

Your main issue is, you've trained for long ish term holds and fear has turned you into a scalper, I've done the same and just decided to be the best scalper I can, for the time being atleast.

If you stick at it you've got a chance of living the dream ie rich and retired and no more work, if you don't ZERO chance realistically, but 98% will give up before realising the dream sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,094
  • Mar 20, 2008 1:34pm Mar 20, 2008 1:34pm
Nice attitude Lurker and the required one for this game.

You've assessed it, came up with, could really go either way 50/50, so no point in holding, take profit sit on the fence and await the next opertunity, spot on!!

If your not 70%+ sure the market will do as you want Navin, take profit, or even a small loss and wait.


EU's doing me proud, only trade off the week
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,095
  • Mar 20, 2008 1:42pm Mar 20, 2008 1:42pm
Quoting Turveyd
Nice attitude Lurker and the required one for this game.

You've assessed it, came up with, could really go either way 50/50, so no point in holding, take profit sit on the fence and await the next opertunity, spot on!!

If your not 70%+ sure the market will do as you want Navin, take profit, or even a small loss and wait.


EU's doing me proud, only trade off the week
Yea EU is very interesting these days. Tell us about your trade.
USD Est Non Mortuus
  • #59,096
  • Mar 20, 2008 1:44pm Mar 20, 2008 1:44pm
Out of EU +17 my ownly trade off the week, atleast it was profitable

Better than most weeks
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,097
  • Mar 20, 2008 1:47pm Mar 20, 2008 1:47pm
Quoting Turveyd
Out of EU +17 my ownly trade off the week, atleast it was profitable

Better than most weeks
nice job.
USD Est Non Mortuus
  • #59,098
  • Mar 20, 2008 1:51pm Mar 20, 2008 1:51pm
Just a normal Chop play lurker only works when the market is quite and not trending, actually it works alot but you've got to let the range slip abit more.

White and a Grey line area is my 90min sma range wait for the momentum to flatten out and take your chances, using the 9ema line ( 8,9,10 in yellow ).

See the 12hour sma line 2 red maybe lines @1.5448 area, shorting near woulda worked great earlier!!
Attached Image
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,099
  • Mar 20, 2008 1:56pm Mar 20, 2008 1:56pm
Quoting Turveyd
Just a normal Chop play lurker only works when the market is quite and not trending, actually it works alot but you've got to let the range slip abit more.

White and a Grey line area is my 90min sma range wait for the momentum to flatten out and take your chances, using the 9ema line ( 8,9,10 in yellow ).

See the 12hour sma line 2 red maybe lines @1.5448 area, shorting near woulda worked great earlier!!
Yea I'm waiting for it to show me 5265ish. That could potentially be a very nice buy area if it goes to re-test high or pop a new one. I dont think its ready to unwind fully to 4xxx yet until it tests that high area again.
USD Est Non Mortuus
  • #59,100
  • Mar 20, 2008 2:01pm Mar 20, 2008 2:01pm
I'm just sticking to intraday setups with no real planning ahead.

Scalping with the trend is where its at, for consistent regular 20-30pip profits without the requirement to have to watch the market 24hours per day!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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