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Cable Update (GBPUSD)

  • #59,721
  • Mar 27, 2008 6:49pm Mar 27, 2008 6:49pm
Quoting littlejohn
Sorry old chap....now i will say it quite bluntly...this is bullshit...no one can make 85% per month on consistent basis. Even frigging G Soros takes losses and i think he knows a thing or two about trading.
85% per month. You remind me of a cross between Arthur Daley and Delboy.

Who say 85% profit. read the post again. i say i take 85% from the profit i make for each month to my personal account at the bank... read it after that post your comment
  • #59,722
  • Mar 27, 2008 6:50pm Mar 27, 2008 6:50pm
The 2 steps sucks normally, baby steps forward then giants step back though for me!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,723
  • Mar 27, 2008 6:53pm Mar 27, 2008 6:53pm
70% of my trades are profitable at this point, although I'm still losing money.

I feel 70%-80% of trades winning is acheiveable with a good system and experience.

The trick is risking above slipping abit in order to make more from the trades though, what I'm currently working on.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,724
  • Mar 27, 2008 7:06pm Mar 27, 2008 7:06pm
I closed all positions at or close to market. Hedged the 2 on top. Might get a retrace. I’m off to bed. Another lesson learnt lol
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #59,725
  • Mar 27, 2008 7:08pm Mar 27, 2008 7:08pm
This is looking quite bearish with R1 as resistance. Notice the increase in volume (shorts), when price touched R1 previously. Daily also closed with pin bar...

With the UK housing prices coming out... unless its shockingly good, this looks like downside biaseness.
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Trade the reaction, not the news!
  • #59,726
  • Mar 27, 2008 7:08pm Mar 27, 2008 7:08pm
Casing point, just held a EU short from 1.5815 for over 1hour for +4 pips


But first trade off the week, happy to be out without being stopped.


And boring as hell with no real movement going on!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,727
  • Mar 27, 2008 7:16pm Mar 27, 2008 7:16pm
Quoting Abuawad
Who say 85% profit. read the post again. i say i take 85% from the profit i make for each month to my personal account at the bank... read it after that post your comment
hi there Abuawad,where is your daily projection?
  • #59,728
  • Mar 27, 2008 7:16pm Mar 27, 2008 7:16pm
Sure you've got enough lines on your chart there 2feet.


My take would be down from here ( not directly ) to retest 1.9870 put in a higher high then move back up again.

We are pretty much just playing the all news is bad news game here, so UK news ='s DOWN, US news = UP.

Work out the good GBP news and work out odds based on last 20 items of news being bad and do the same for the USA, bet you'll get 70% bad so therefore treating all news as bad is with the trend and acceptable.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,729
  • Edited 8:01pm Mar 27, 2008 7:33pm | Edited 8:01pm
Quoting littlejohn
Hi Guys,
I don't mean to be rude to anyone. But, please please think how anyone can make hundreds of pips everyday. I saw that article by Tim Morge here. I read about him. This guy has been trading for 35 years. He was responsible for 20% of all the volume in cash forex. He manages soverign funds of 3 countries. Would you like to know his success rate, 68%. After all these years he is right only 2 out of 3 attempts. Some of you guys are fairly experienced, ask yourself just how easy is it to make 100's of pips every bleeding day. Todays range is about 135 yet some one has managed to pull out more than 200 pips. I mean just how does our respected friend do it. He has a fulltime job on top of it. Abuawad, I am sorry if you feel i am attacking you. My post is about bullshitters in general.
Quoting TraderJR
Abuawad

You should post a screen shot of your forex trading account - showing times, entries, SL TP etc. to put any who doubt to rest

I'd post mine but it's too embarassing...
I’m not going to speak about my trading method for you. For more than reason.
First I loss many times in this market why! Because I was focusing on many currencies.
Second trading during the news.
Third don’t use money management for the account.

But I learn my lesson in the hard way. So my plan is:
1. Focus on one currency only.
2. No trading during the news
3. Using money management and hard management only 1%~2%

So let me say I have 10,000 USD in my account the 1% is 100 USD. Which give me only 1 stander lot “1 pip 10 $ for GBPUSD”.
Targeting 50 ~74 pip in day which is easy to collect them in cable. That give me 500 ~ 750 $
Each month there are only 4 week * 5 days = 20 day
Finally let me say I make profit 1,000 by the end of the month I’ll withdraw 800~850 and keep 150~200 in the account and start over again for the next month.
There are some day with 0 trading why !! because I can’t find my direction at that day.
Think again in something why should I post my close position for you here just to show you that what I’m saying the true!!!
Ok here you can see it, and next time try to check the post’s that I post here over and over before you think in judge me.

Now Are You Happy
Last thing. I have information that FXCM will be enable the trading throw MT4. If that thing is true and they ably the investor password I’ll more than happy to shear it with you all to help the member here. And to throw a big stone in the eyes of the glues members.
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  • #59,730
  • Mar 27, 2008 7:38pm Mar 27, 2008 7:38pm
28-3-2008
Who have any problem with this post simply but me in your ignore list and you will be unable to see it.
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  • #59,731
  • Mar 27, 2008 7:54pm Mar 27, 2008 7:54pm
Quoting littlejohn
Hi Guys,
I don't mean to be rude to anyone. But, please please think how anyone can make hundreds of pips everyday. I saw that article by Tim Morge here. I read about him. This guy has been trading for 35 years. He was responsible for 20% of all the volume in cash forex. He manages soverign funds of 3 countries. Would you like to know his success rate, 68%. After all these years he is right only 2 out of 3 attempts. Some of you guys are fairly experienced, ask yourself just how easy is it to make 100's of pips every bleeding day. Todays range is about 135 yet some one has managed to pull out more than 200 pips. I mean just how does our respected friend do it. He has a fulltime job on top of it. Abuawad, I am sorry if you feel i am attacking you. My post is about bullshitters in general.

172 pip from the high and low.
and if you are smart you can see on the chart that cable is not moving in one direction only it go up and down. only who have the time and account can handle this movment can move with cable in the same time

check this you can collect 376 pip. not only 200.
or you didn't collect any pip yesterday
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  • #59,732
  • Mar 27, 2008 8:14pm Mar 27, 2008 8:14pm
Quoting littlejohn
Hi Guys,
I don't mean to be rude to anyone. But, please please think how anyone can make hundreds of pips everyday. I saw that article by Tim Morge here. I read about him. This guy has been trading for 35 years. He was responsible for 20% of all the volume in cash forex. He manages soverign funds of 3 countries. Would you like to know his success rate, 68%. After all these years he is right only 2 out of 3 attempts. Some of you guys are fairly experienced, ask yourself just how easy is it to make 100's of pips every bleeding day. Todays range is about 135 yet some one has managed to pull out more than 200 pips. I mean just how does our respected friend do it. He has a fulltime job on top of it. Abuawad, I am sorry if you feel i am attacking you. My post is about bullshitters in general.
i can't see any bullshitters here in this fourm. but you are the new b'day here .
try to focus on the trading not observing the other that will make pips more for you, than counting words and comment on who ever here.
  • #59,733
  • Mar 27, 2008 8:18pm Mar 27, 2008 8:18pm
More on topic, why oh why did I exit my short on EU, why didn't i short GU it was obviously going to follow EU at some stage


took 4pips should make 10x's that, this be getting stupid and wasteful!!


* does anyone want me to prove my 4pips LOL *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,734
  • Mar 27, 2008 8:22pm Mar 27, 2008 8:22pm
Quoting Abuawad
i can't see any bullshitters here in this fourm. but you are the new b'day here .
try to focus on the trading not observing the other that will make pips more for you, than counting words and comment on who ever here.
Abuawad I would I love to be your student.
  • #59,735
  • Edited 8:39pm Mar 27, 2008 8:28pm | Edited 8:39pm
Quoting andrezuttu
Abuawad I would I love to be your student.
I’m not the teacher here I’m also a student as you the difference is the level I’m in the mmm let me see I think the second level still 10 level more
  • #59,736
  • Mar 27, 2008 8:38pm Mar 27, 2008 8:38pm
I feel it 2.0126 if we get a close above this in a one hour chart its giong up ...
  • #59,737
  • Mar 27, 2008 8:50pm Mar 27, 2008 8:50pm
Taking 85% of profit out is a good strategy, okay not going to hit the million as quick but how many lots can you trade at once honestly.

My plan is over £1000 GBP take out 50% of profit, none below not worth it.
But when the account gets to £10000 GBP ( and IF ofcourse ), then I'll likely take the account back to 10K every month, thats enough to trade $20-$30 per pip for me, why would I really want to trade higher.

( keep a slush fund to top up on down months to )

Might be worth sticking to 85% ish out, just to keep some account growth!! hmmmm.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #59,738
  • Mar 27, 2008 8:58pm Mar 27, 2008 8:58pm
Hi Abuawad,

I just would like to know how to interpret the analysis you post, Could you kindly explain. Thank you.
  • #59,739
  • Mar 27, 2008 9:05pm Mar 27, 2008 9:05pm
Quoting Abuawad
I’m not the teacher here I’m also a student as you the difference is the level I’m in the mmm let me see I think the second level still 10 level more
your numbers are phenomenal but dont understand your method clearly would you be kind enough to start a thread where you focus on explaining your method so other can find similiar success
  • #59,740
  • Mar 27, 2008 9:24pm Mar 27, 2008 9:24pm
Do most of you watch the cable during the London session or are you using auto trades? Being in the US makes it hard to be awake for the London open.

Thanks!
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