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Cable Update (GBPUSD)

  • #60,821
  • Apr 8, 2008 1:23am Apr 8, 2008 1:23am
What's a good entry point for short right now?
Expected the unexpected
  • #60,822
  • Apr 8, 2008 1:34am Apr 8, 2008 1:34am
Quoting sharon_gpl
gbp/usd will hit 1.95xx by this week
Looks like it shall, next support is in the region on 9670, then 9370 region. On daily chart one can see the possible symetry achieved by such a scenario. It shall take some time though with the nervous markets atm everything is possible.
Make sure losses are small and profits are bigger!
  • #60,823
  • Apr 8, 2008 1:39am Apr 8, 2008 1:39am
Quoting scyang
What's a good entry point for short right now?

im looking for BUY rite now
short i think finish ready..
waiting confirmation for BUY SIGNAL

SORRY THIS FOR USDJPY...
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  • #60,824
  • Apr 8, 2008 1:41am Apr 8, 2008 1:41am
im really not sure ...i hate situations like this cause its like u have to say to yourself how long is a piece of string....i expecting a bounce around 1.9751 its a really good support and placing a long there if i get a confirmation..
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  • #60,825
  • Apr 8, 2008 1:42am Apr 8, 2008 1:42am
Really? What makes you think it will go long? What's your entering price to buy?
Expected the unexpected
  • #60,826
  • Apr 8, 2008 1:45am Apr 8, 2008 1:45am
HI ULTRAMAN,

My bias uj is down 101.50, 101.30 and maybe 100.
  • #60,827
  • Apr 8, 2008 1:48am Apr 8, 2008 1:48am
Quoting scyang
Really? What makes you think it will go long? What's your entering price to buy?
risk reward....it wont be a bad trade....and besides this area has been tested 5 times...it might not break...me entering a long is will be based on a bounce and the bullish candle would have to close around 1.9805 only then would i consider it a safe kinda entery..

it would make it a bullish piercing pattern and we would be moving up!

only enter the market if u feel its right and yur 90% sure otherwise just wait till u are...its better than getting it wrong and reacting to impulse....speaking from experience of live trading for 4 weeks now
  • #60,828
  • Apr 8, 2008 1:49am Apr 8, 2008 1:49am
Quoting nAVIN2007
im really not sure ...i hate situations like this cause its like u have to say to yourself how long is a piece of string....i expecting a bounce around 1.9751 its a really good support and placing a long there if i get a confirmation..
i agree with u nAVIN2007 but need confirmation b4 enter long...
i like diz situation
short-long
long-short

wish u luck in ur trading
  • #60,829
  • Apr 8, 2008 1:50am Apr 8, 2008 1:50am
Quoting priceaction
Tomaz, your posts would be interesting to others if you included analysis.
Good trading!!! (live or demo?)
what do you mean live or demo?? of course its live, otherwise it would be meaningless
  • #60,830
  • Apr 8, 2008 1:53am Apr 8, 2008 1:53am
Quoting sharon_gpl
HI ULTRAMAN,

My bias uj is down 101.50, 101.30 and maybe 100.
ic but not 4 me..
i take a risk to take long n long at USDJPY..
just need to be patient..
hoping i getting risk reward as well
  • #60,831
  • Apr 8, 2008 1:54am Apr 8, 2008 1:54am
Quoting nAVIN2007
well isnt fibos based on superstition bro the number 23 turned into 32 and all that stuff ...
Fibonacci numbers and ratios have nothing to do with superstition at all. It is just a very important observation, also related to human perception and expariencing of eg. symetry, or harmony. One would not call it superstition that piano has 8 white and 5 black keys in an octav. Whether one applies it to trading or not depends on individual traders style. There is a lot written on the subject, and even a simle observation of the 4hr chart for example might provide some food for thoughts. Sorry if I repeat the obvoius, and no harm has been meant.
Make sure losses are small and profits are bigger!
  • #60,832
  • Apr 8, 2008 1:57am Apr 8, 2008 1:57am
Quoting Ultraman
im looking for BUY rite now
short i think finish ready..
waiting confirmation for BUY SIGNAL

SORRY THIS FOR USDJPY...
orite my PO just hit...
currently +4PIPs..
im looking forward as well 4 my target exit
im still hoping to getting risk reward on USDJPY..

let see what will happen
  • #60,833
  • Apr 8, 2008 2:01am Apr 8, 2008 2:01am
Quoting 2be
Fibonacci numbers and ratios have nothing to do with superstition at all. It is just a very important observation, also related to human perception and expariencing of eg. symetry, or harmony. One would not call it superstition that piano has 8 white and 5 black keys in an octav. Whether one applies it to trading or not depends on individual traders style. There is a lot written on the subject, and even a simle observation of the 4hr chart for example might provide some food for thoughts. Sorry if I repeat the obvoius, and no harm has been meant.
yur right i was also questioning as i wrote the word "superstition" i only thought it maybe perhaps because of the number 23.....lol
but yes yue completely right ...its not supertition at all..
  • #60,834
  • Apr 8, 2008 2:03am Apr 8, 2008 2:03am
Quoting Ultraman
i agree with u nAVIN2007 but need confirmation b4 enter long...
i like diz situation
short-long
long-short

wish u luck in ur trading

u too buddy ..happy trading to us all, hopefully one of these day we all will crack this puppy ...

see chart ...this could be a very positive signal if only the bullish candle grows...high wave candle engulfed by bullish candle...if this happens on 1 hr time frame ..we gonNa be rich ....LOL
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  • #60,835
  • Apr 8, 2008 2:12am Apr 8, 2008 2:12am
Quoting tomaz55
what do you mean live or demo?? of course its live, otherwise it would be meaningless
Tomaz, the reason I ask is because many people here trade demo.
That's what I mean my friend. Sorry if it wasn't clear :-)

Great to see you making cash!
  • #60,836
  • Apr 8, 2008 2:18am Apr 8, 2008 2:18am
Quoting priceaction
Tomaz, the reason I ask is because many people here trade demo.
That's what I mean my friend. Sorry if it wasn't clear :-)

Great to see you making cash!
priceaction, i never understood why people trade demo, they can make 1,000 pips per week but when they trade live... you know how it ends
  • #60,837
  • Apr 8, 2008 2:21am Apr 8, 2008 2:21am
Quoting tomaz55
priceaction, i never understood why people trade demo, they can make 1,000 pips per week but when they trade live... you know how it ends
Agree, I have ever make over 1xxx pips a month on demo, right now still -260 pip on live account.

Try it, you will know it
  • #60,838
  • Apr 8, 2008 2:23am Apr 8, 2008 2:23am
Quoting tomaz55
priceaction, i never understood why people trade demo, they can make 1,000 pips per week but when they trade live... you know how it ends
Absolutely Tomaz! It's very different. The major challenge of psychology caused by fear & greed is missing from demo trading.

But demo trading does help people learn the technical aspect of trading.

Only the real thing will teach them the psychology.
  • #60,839
  • Apr 8, 2008 2:23am Apr 8, 2008 2:23am
Quoting mavewei
Agree, I have ever make over 1xxx pips a month on demo, right now still -260 pip on live account.

Try it, you will know it
You are so right. But at least you are still in the money on live account.
Expected the unexpected
  • #60,840
  • Apr 8, 2008 2:28am Apr 8, 2008 2:28am
Quoting tomaz55
priceaction, i never understood why people trade demo, they can make 1,000 pips per week but when they trade live... you know how it ends

Trading demo is great to a stage...the problem is when yur live the emotions that are natuaral need to be overcome and this can destroy yur account ....like i have found..

I was trading out of fear and placed 53 trades in the first week (1 currency, cable) and won 40 trades but still was at a loss...even now im at a loss but i think im much more calm now and down £300 but turned a corner..i hope ...lol.
i need to be focused enough to believe in myself and allow the trade to hit the target and not close position to exit small profit...this is where i went wrong , but demo u just dont get the same emotions (that feeling of fear needs to leave u otherwise your doomed to lose the account) also entering with 0.1 makes it hard cause the market can turn and take u out ..i think it better to enter with 0.2 ...get 20 pips exit 80% and move SP to entery and let the rest ride..this is what im trying now ..it better work....lol
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