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Cable Update (GBPUSD)

  • #61,081
  • Apr 9, 2008 12:26pm Apr 9, 2008 12:26pm
here is what I see for tomorrow
1.9600 area
bottom of down trend channel + Fibs + weekly and monthly pivot.
Attached Image (click to enlarge)
Click to Enlarge Name: gbppp.gif Size: 21 KB
  • #61,082
  • Apr 9, 2008 12:34pm Apr 9, 2008 12:34pm
Quoting fx local
stick to your trading plan, have your stops/limits predetermined before you even think of entering a trade. dont be to too concerned with where the market is going (you have zero control over that), only be concerned about about what u going to do when it gets there (you have 100% control over that). learn to think in probabilites and risk reward, slowly build up your trading edge and confidence. im still in the early part of the learning curve myself which is profoundly steeper that you might imagine.
Thank you so much of your advise. I think I need these great kind of advices.

Alqaz.
  • #61,083
  • Apr 9, 2008 12:34pm Apr 9, 2008 12:34pm
Quoting TraderJR
Alpari UK Close 19733, Open 19732

Such big differences shake one's confidence in the method of entry...

Anyway price has penetrated upper Target 1 19757
This is my MT4 4H

http://tftp.sytes.net/gbpusd.JPG

Just close it @9759 (Abuawad T1) with +48pips
  • #61,084
  • Apr 9, 2008 1:26pm Apr 9, 2008 1:26pm
Hello abuawad,

I was going through your manual, find it interesting but wasn't able to comprehend some though, I would suggest if you can do a video presentation showing how u setup your strategy....

It works for real!

thanks
  • #61,085
  • Apr 9, 2008 1:43pm Apr 9, 2008 1:43pm
Quoting ns_karthik
took the ride down from 9778 to 9678 for exactly 100 pips in abt 5 hrs...:-))..
Hi Ns,

I am new into all this, but I have been following these thread around 2-3 months, and have read yours many times. Good work.....I must say. I would like to ask your standing on this matter.
Today GBP went higher to about 9750......from 9683... Where do you judge it will move later, before and after the BoE news

Thanks.
  • #61,086
  • Apr 9, 2008 2:14pm Apr 9, 2008 2:14pm
Quoting ManBukitKuda
Hi Ns,

I am new into all this, but I have been following these thread around 2-3 months, and have read yours many times. Good work.....I must say. I would like to ask your standing on this matter.
Today GBP went higher to about 9750......from 9683... Where do you judge it will move later, before and after the BoE news

Thanks.
I can give you my opinion as I used to do the trading based on all the news and event. Initially what I see GBP will take a move down between 12:00 am- 2:00 am then from London opening its trend will confirm towards downward directon and it might decrease 10-15 pips every hour from the first hour. I can give you one hint as I have observed several times. Just 4 or 5 minutes before the red news comes, the current GBP level would be going upward very fastlly if the news would be red (Bad) and I think that will be the good entry point for late cummers. If that news or any news would be good then before 5 minutes of the news, the current rate would be jumping towards downward.

Best of luck to grasp tomorrow's news, I will be on my desk at around 5:00 am Central Zone.......
  • #61,087
  • Apr 9, 2008 3:53pm Apr 9, 2008 3:53pm
where is every1 did every1 lose money or something....i got stopped out ..bloody forex, i still thinking down..but knowing my luck we will go back up..
ihave practically blown my forst account.....if i lose this trade then im back to demo for 6 months
  • #61,088
  • Apr 9, 2008 3:58pm Apr 9, 2008 3:58pm
have the impression we might see 9850 tomorrow..
  • #61,089
  • Apr 9, 2008 4:01pm Apr 9, 2008 4:01pm
Quoting tomaz55
have the impression we might see 9850 tomorrow..
You must be kidding. Because if I would loose my 4 trading I would definitely go back to demo for at least 3 months.
  • #61,090
  • Apr 9, 2008 4:05pm Apr 9, 2008 4:05pm
Quoting asyed4
You must be kidding. Because if I would loose my 4 trading I would definitely go back to demo for at least 3 months.
i suggest everybody to go back to demo for 3 months (including me) lol

changed my tp to 9720, tomorrow i will reassess
  • #61,091
  • Apr 9, 2008 4:08pm Apr 9, 2008 4:08pm
Quoting tomaz55
have the impression we might see 9850 tomorrow..

actually im thinking maybe we starting to stall up ..but yes actually i dont know why but just havent been in sink with this currency all week...i lost £450 so far and placced a short to go toward 1.94..

if it fail im on demo, i need to get better at trading...ive lost the plot and gain more knowledge

yes we have a rising trendline on 1 hr chart and price likes that line ...it possible that will happen..might go to 1.9785 then back down
  • #61,092
  • Apr 9, 2008 4:17pm Apr 9, 2008 4:17pm
Quoting nAVIN2007
where is every1 did every1 lose money or something....i got stopped out ..bloody forex, i still thinking down..but knowing my luck we will go back up..
ihave practically blown my forst account.....if i lose this trade then im back to demo for 6 months
You cant go back to demo, not the same as live. Rather use 1 mini lot to trade but do it live. Live is the only way to learn. I have blow 3 accounts of $500 each trading min lot. I then left trading for 2 weeks did not evevn look at the computer. When I came back my head was clear and I was positive. Now I am finaly getting ahead after 1year learning. Keep it live and good trading.
  • #61,093
  • Apr 9, 2008 4:20pm Apr 9, 2008 4:20pm
Hi all.

Short entered:

1.9756 TP@ 1.9536
USD Est Non Mortuus
  • #61,094
  • Apr 9, 2008 4:20pm Apr 9, 2008 4:20pm
Another good morning...

Entered Long at 9713 (a little premature)....lol couldn't help myself (oh those emotions, how they play our souls).

Set T/P just below first target.....so i took 42 pips...yahoo....i wish i was mangaging it but, i probably would have banked more, oh well.

I got too greedy later and entered another long, BUT, set my S/L to only 25 (just to keep some profit if it went against me....AND OF COURSE; IT WENT AGAINST ME LOL.

Still, i have +17 pips in the bag. Better than being in the negative, thats for sure.
I look forward to tonights template...(hehe I live in Miami, FL).

Thansk Guys.
Good luck trading.
  • #61,095
  • Edited 5:04pm Apr 9, 2008 4:24pm | Edited 5:04pm
Just learn to guesss the unknown area limit what Master Abuawad will forecast for 10 - 04 - 2008. Horizontal line can be chosen as the 1st target.

Playing scalpe in the unknown area, got 40 pips. 1 long and 2 short !
Attached Image
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,096
  • Apr 9, 2008 4:25pm Apr 9, 2008 4:25pm
Quoting Runway Trade
You cant go back to demo, not the same as live. Rather use 1 mini lot to trade but do it live. Live is the only way to learn. I have blow 3 accounts of $500 each trading min lot. I then left trading for 2 weeks did not evevn look at the computer. When I came back my head was clear and I was positive. Now I am finaly getting ahead after 1year learning. Keep it live and good trading.

i started with £3000 lost £450 already but i need to gain more knowledge i dont know enough, the decisions i make i promise any1 looking at them would say ...i would have lost. i reckon my entery on most trades i couldnt have picked worse placed....like in the middle of a trendline, or selling at the bottom of a trendline instead of buying, whether its pressure or knowledge or both, i need to get my shit together cause otherwise im gonna blow the rest ...i placed a short and am thinking i have a 50% chance it its target...if not im back to demo....save and come back knowing whats happening....and another thing, im actually getting used to losing money thats worrying me too .......lol (not good or is it, not even sure about that ....lol)
  • #61,097
  • Apr 9, 2008 4:26pm Apr 9, 2008 4:26pm
Quoting nAVIN2007
actually im thinking maybe we starting to stall up ..but yes actually i dont know why but just havent been in sink with this currency all week...i lost £450 so far and placced a short to go toward 1.94..

if it fail im on demo, i need to get better at trading...ive lost the plot and gain more knowledge

yes we have a rising trendline on 1 hr chart and price likes that line ...it possible that will happen..might go to 1.9785 then back down
guys this is only money and please do not see anything granted as I was told that if you confident in your trade then you have 100% control. Plus you saw yesterday night tight range between 1.9648-1.9703 for 8 hours then in London opening it got up for few hours then it dropped back to 1.9680's range where I entered into the trade with Short but because of Euro went up so GBP went up to 1.9800. Actually I think GBP/EURO are brothers. But tomorrow morning it is interesting to see their fight because one is expected rate cut and another one is expected no rate cut.........
  • #61,098
  • Apr 9, 2008 4:32pm Apr 9, 2008 4:32pm
Quoting asyed4
guys this is only money and please do not see anything granted as I was told that if you confident in your trade then you have 100% control. Plus you saw yesterday night tight range between 1.9648-1.9703 for 8 hours then in London opening it got up for few hours then it dropped back to 1.9680's range where I entered into the trade with Short but because of Euro went up so GBP went up to 1.9800. Actually I think GBP/EURO are brothers. But tomorrow morning it is interesting to see their fight because one is expected rate cut and another one is expected no rate cut.........
yes they are correlated but that correlation right now is very weak, 2 months ago when EUR wasnt in a strong trend...i actually could trade it very easy and used it confirm where cable was going as they moved in same direction...were in sink but now i doubt it ...that beast is doing its own thing...
  • #61,099
  • Apr 9, 2008 4:38pm Apr 9, 2008 4:38pm
Quoting LuckyLurker
Hi all.

Short entered:

1.9756 TP@ 1.9536
may i ask where u placed your stop loss plz..i have mine at 1.9838
  • #61,100
  • Apr 9, 2008 4:45pm Apr 9, 2008 4:45pm
It's all about those entries ladies and gents. I'm still really looking to see this hit 1.98 and possibly higher before falling again. That will be a solid entry for me to add to short positions for another large drop in price.
I dream, therefore I become.
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