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Cable Update (GBPUSD)

  • #61,321
  • Apr 10, 2008 1:22pm Apr 10, 2008 1:22pm
I'm out.
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,322
  • Apr 10, 2008 1:30pm Apr 10, 2008 1:30pm
Quoting Bones
That’s interesting Mike you trade off the 8hr.I trade using MT4 which dose not have an 8hr but I do have a multiplier indicator which could make an 8hr if you thought the 8 is a good TF to watch.
I mean I don’t use MT4 Just cause its free ,I really like it .When I started I paid for Meta Stock ver 10 (actually own it)which I didn’t think was any better than MT4.
So basically I also wondered what charting package you use.
And also Ameri I know you pay for charting wondered if you would let me know what charting you use.
Hope that’s not to personal a question guys and I promise not about to ask your inside leg measurement,lol
For 8 hour charts, I use another free charting package called Net Dania. I agree with you, there is no real reason to pay for charts when the free ones have all that you need. lol

As for inside leg measurements, I wouldn't want some of the other guys in here feeling bad lol jk jk
I dream, therefore I become.
  • #61,323
  • Apr 10, 2008 1:31pm Apr 10, 2008 1:31pm
Quoting jimo
i am short G/U from 9820 and waiting for 9650
closed my short 9720 +100 pips from G/U enough for today
  • #61,324
  • Apr 10, 2008 1:32pm Apr 10, 2008 1:32pm
Quoting manize
I'm out.
You did right Manize. I am waiting for 1.9650 because any thing can happen but I think whatever thing would happen would start from Sunday. This downsize pattern I hope will continue to atleast Asia Session tonight so I will be out from my 3 Mini Accounts. Because Market is like Wolf as you are not sure when he attack to the person.
  • #61,325
  • Apr 10, 2008 1:43pm Apr 10, 2008 1:43pm
Well I do believe my trading has turned a corner, I've accepted something, I'm a short term scalper do you know what i like it.

Got over my fear of placing a trade at anything other than the perfect bottom.

I see the price moving up for instance I can jump in while it's moving, without worrying paranoidly about it turning on me, ride it and exit for any kinda profit or kill it on a failure, perfect

Also been able to lower my stops to 10pips aswell, so when I'm wrong I really don't care.

Give it a week of this and I'll start creeping the lots up, and job done

No research, no caring, keeping it really simple and high hopes here.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,326
  • Apr 10, 2008 1:48pm Apr 10, 2008 1:48pm
Quoting Bones
That’s interesting Mike you trade off the 8hr.I trade using MT4 which dose not have an 8hr but I do have a multiplier indicator which could make an 8hr if you thought the 8 is a good TF to watch.
I mean I don’t use MT4 Just cause its free ,I really like it .When I started I paid for Meta Stock ver 10 (actually own it)which I didn’t think was any better than MT4.
So basically I also wondered what charting package you use.
And also Ameri I know you pay for charting wondered if you would let me know what charting you use.
Hope that’s not to personal a question guys and I promise not about to ask your inside leg measurement,lol
Bones,
I use fxtrek's intellicharts, they are the best charting software on the market I believe, simply because you can have a text message sent to your cell phone to signal you when something is going on in the market that needs your attention. Check them out, remember its fxtrek's intellicharts.

Good luck Bro,
Jamie.
  • #61,327
  • Apr 10, 2008 1:51pm Apr 10, 2008 1:51pm
Quoting LuckyLurker
Hi all.

Short entered:

1.9756 TP@ 1.9536

Still Holding but SL moved to BE
USD Est Non Mortuus
  • #61,328
  • Apr 10, 2008 2:05pm Apr 10, 2008 2:05pm
Need to catch some ZZZZZ's. Still holding long @ 1.9792 and @1.9734. See u in the morning
  • #61,329
  • Apr 10, 2008 2:16pm Apr 10, 2008 2:16pm
Quoting Turveyd
Well I do believe my trading has turned a corner, I've accepted something, I'm a short term scalper do you know what i like it.

Got over my fear of placing a trade at anything other than the perfect bottom.

I see the price moving up for instance I can jump in while it's moving, without worrying paranoidly about it turning on me, ride it and exit for any kinda profit or kill it on a failure, perfect

Also been able to lower my stops to 10pips aswell, so when I'm wrong I really don't care.

Give it a week of this and I'll start creeping the lots up, and job done

No research, no caring, keeping it really simple and high hopes here.
What I have learned from this trading is to require a lot of patience which I didn't have in the beginning plus a very good entry point into the trade like I saloote to all those guys who are in Short from 2.0025, 1.9903 and 1.9820 because the best entry point I think since last Friday would be 2.0025 and I think one of us would have this entry point for Shorts. I think practice would make a person perfect with a small risk but in this way that person will identify the best trading techniques like a good entry point when the market is at the top out for instance 2.0025 and when the market is at the bottom out for instance 1.9660 even if that person has to wait for 1 week but then if he gets it he would control his trade very easily with 8 hours of sleep and a nice time with his significant others stuff like but you that requires patience, and patience and patience.....

Thank you all. This forum is great, we will keep this to be great!!!!!!!!
  • #61,330
  • Apr 10, 2008 2:24pm Apr 10, 2008 2:24pm
Asyed4, I've simplified it more than that, I'm good on my M1 at spotting buying / selling ie a 10 - 30pips move in general, so I spot buying I go long, without hesitation, I spot selling I exit, or go short if flat.

It allows me to keep my stops so small I don't care.

7 winners in a row, since adopting that today, totally @70pips.

Only breaking even on the day as my first few trades sucked, I went long at the top doh!! but got that mess back
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,331
  • Apr 10, 2008 2:28pm Apr 10, 2008 2:28pm
Quoting asyed4
What I have learned from this trading is to require a lot of patience which I didn't have in the beginning plus a very good entry point into the trade like I saloote to all those guys who are in Short from 2.0025, 1.9903 and 1.9820 because the best entry point I think since last Friday would be 2.0025 and I think one of us would have this entry point for Shorts. I think practice would make a person perfect with a small risk but in this way that person will identify the best trading techniques like a good entry point when the market is at the top out for instance 2.0025 and when the market is at the bottom out for instance 1.9660 even if that person has to wait for 1 week but then if he gets it he would control his trade very easily with 8 hours of sleep and a nice time with his significant others stuff like but you that requires patience, and patience and patience.....

Thank you all. This forum is great, we will keep this to be great!!!!!!!!

I just created my signature as follows:

Al-Syed
Time is Money and Money
has no frontier!!!
  • #61,332
  • Apr 10, 2008 2:43pm Apr 10, 2008 2:43pm
Quoting Turveyd
Asyed4, I've simplified it more than that, I'm good on my M1 at spotting buying / selling ie a 10 - 30pips move in general, so I spot buying I go long, without hesitation, I spot selling I exit, or go short if flat.

It allows me to keep my stops so small I don't care.

7 winners in a row, since adopting that today, totally @70pips.

Only breaking even on the day as my first few trades sucked, I went long at the top doh!! but got that mess back
I understand your technique of spotting buying / selling but this is for expereinced traders and I am not but I atleast think that when you say market is moving you jump with small loss and when market is flat you jump with shorts. I am sure you follow 1HR momentum for to go long and 4 HR momentum for to go short. I think this is a very good technique if a person wants to make money every day (8 hours) just like if that person is working from a company and he has a fixed income or if that person wants to replace his first hand money into this....

I will definitely follow this spotting buying/selling with predetermined stops/loss for 1 week in my demo account then I will let you but I already know it is working for you guys.....

Al-Syed
Time is Money and Money
has no frontier!!!

http://www.forexfactory.com/images/misc/progress.gif

  • #61,333
  • Apr 10, 2008 2:48pm Apr 10, 2008 2:48pm
Quoting LuckyLurker
Still Holding but SL moved to BE
Hi LuckyLurker

why you trader win we sleep?

I think Cable not retch to 1.9536 this week because the news form US is bad.
Grasp all lose all
  • #61,334
  • Apr 10, 2008 2:50pm Apr 10, 2008 2:50pm
I'm pretty sure we don't have anough momentum to move that much further down before revisiting at least 1.9750 area and possibly a little bit higher. This will be a good area for shorts IMO, for the ride down to 1.95-1.96. The daily is definitely bearish and so I am, without a doubt, looking to see more downside movement throughout the next coming days. Easy money. Have a great night and good luck in your trades everyone, I'm out to go shooting with my buddy.
I dream, therefore I become.
  • #61,335
  • Apr 10, 2008 2:52pm Apr 10, 2008 2:52pm
Quoting Teefoo
Hi LuckyLurker

why you trader win we sleep?

I think Cable not retch to 1.9536 this week because the news form US is bad.
News can sometimes take quite a while before it takes its toll on the price.
I dream, therefore I become.
  • #61,336
  • Apr 10, 2008 2:58pm Apr 10, 2008 2:58pm
Quoting Teefoo
Hi LuckyLurker

why you trader win we sleep?

I think Cable not retch to 1.9536 this week because the news form US is bad.
I agree with that as there is no more news of UK this rest of the week except G7 meeting tomorrow for all. My guess is it would go down to at least 1.9650/60 range or if it could break that level then it might go down to 1.9620/30 range....

One other thing I want to say to everybody that please close all their positons before the market closes at 4:00 pm Central time because I just saw next week UK Calendar and there are tons of news during the whole week especially RiCS house price balance (that is a nasty one) and also there are tons of US news which sounds like negative tones. I know some of us don't care of the news I also don't care but one nasty thing about news is if it hits the Cable then it would either be 200 pips down or 150-180 pips up and you all saw on Tuesday night with Halifax news.

Al-Syed
Time is Money and Money
has no frontier!!!

http://www.forexfactory.com/images/misc/progress.gif

  • #61,337
  • Apr 10, 2008 3:00pm Apr 10, 2008 3:00pm
Quoting asyed4
I agree with that as there is no more news of UK this rest of the week except G7 meeting tomorrow for all. My guess is it would go down to at least 1.9650/60 range or if it could break that level then it might go down to 1.9620/30 range....

One other thing I want to say to everybody that please close all their positons before the market closes at 4:00 pm Central time because I just saw next week UK Calendar and there are tons of news during the whole week especially RiCS house price balance (that is a nasty one) and also there are tons of US news which sounds like negative tones. I know some of us don't care of the news I also don't care but one nasty thing about news is if it hits the Cable then it would either be 200 pips down or 150-180 pips up and you all saw on Tuesday night with Halifax news.

Al-Syed
Time is Money and Money
has no frontier!!!

http://www.forexfactory.com/images/misc/progress.gif

Ooops.... I forgot to say at 4:00 pm Central time tomorrow (Friday)...
  • #61,338
  • Apr 10, 2008 3:03pm Apr 10, 2008 3:03pm
Thats the 1 issue, thankfully I've got the time to sit here for a hour or 2, not planning to do 8hours, only useable when the markets having big ish short term moves really. You want it to start a move and keep going long enough to cover the spread and make some $$$$'s

Just around the main news times works for me.

I tried to move to bigger trades, i SUCK I just can't do it.


So KISS plan in action ( Keep it simple stupid )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,339
  • Apr 10, 2008 3:16pm Apr 10, 2008 3:16pm
Quoting Teefoo
Hi LuckyLurker

why you trader win we sleep?

I think Cable not retch to 1.9536 this week because the news form US is bad.
I'll close the position tomorrow.
USD Est Non Mortuus
  • #61,340
  • Apr 10, 2008 4:41pm Apr 10, 2008 4:41pm
Quoting LuckyLurker
I'll close the position tomorrow.
i got a feeling it will hit tonight ....direction looks great.
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