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Cable Update (GBPUSD)

  • #61,341
  • Apr 10, 2008 4:46pm Apr 10, 2008 4:46pm
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.
Sounds totally like me . That's exactly how I made $8500 in 3 months. And I will continue to do so. Let's see where it goes. One thing though I take directions (which way it is going to move now) from my trading company (Forex.com) that posts periodically on different currency pairs.
  • #61,342
  • Apr 10, 2008 5:04pm Apr 10, 2008 5:04pm
Quoting sbhaumik
Sounds totally like me . That's exactly how I made $8500 in 3 months. And I will continue to do so. Let's see where it goes. One thing though I take directions (which way it is going to move now) from my trading company (Forex.com) that posts periodically on different currency pairs.
You mean take directions from Fores Espeicialist " Brian..." Can you tell me how much his analysis is right so far in your trading especially 1HR momentum because I would also like to do this short term trading as a day trader with minimal stop loss and I just did one short in my demo account this afternoon for 15-20 pips profit and 10-15 pips stop loss, it is still going on as I did it at a very flat level for shorts between 3:00 - 5:00 pm but I am sure it will hit my PT level.

I also would like to share my trading experience to you guys: I made $6,000 in 3 months only just based on London Red news wake up London time in US and follow the news, couple of things I was not doing on a daily basis is predetermining my profit or loss and that is why I lost heavily 4 weeks ago and that is how I joined this forum. When I was sitting more in US session and Asia Session without learning trend, stop loss since that time I was loosing money but believe me from December 10th - March 10th the only thing I was doing seeing the london news and acted accordingly and made $6000+
  • #61,343
  • Apr 10, 2008 5:09pm Apr 10, 2008 5:09pm
HI ASYED4,

Everything alright with gbp/usd trade??
  • #61,344
  • Apr 10, 2008 5:16pm Apr 10, 2008 5:16pm
Does anybody else see this huge H&S on GBP. If this materializes CABLE will go down to 1.8100 eventually! This will definitely be a long term trade!!!
Attached Image (click to enlarge)
Click to Enlarge Name: H&S GBPUSD.jpg Size: 143 KB
  • #61,345
  • Apr 10, 2008 6:07pm Apr 10, 2008 6:07pm
Quoting sbhaumik
Sounds totally like me . That's exactly how I made $8500 in 3 months. And I will continue to do so. Let's see where it goes. One thing though I take directions (which way it is going to move now) from my trading company (Forex.com) that posts periodically on different currency pairs.

Sounds good to me

My SL is soooo tight I really won't have much of a issue moving upto .2 or .3 lots real soon, then the £40 I scalped becomes £120 in 1 day and wowsa's.

I'm trailing getrendz spammers that posted the other day, crap spammer, but nice looking system, good tight ish stops and good track record, and phone texts so not got to be in front of the pc to get trades or make changes

Just missed a Jpy move, coulda got 20+ pips sub 2mins ohhh well
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,346
  • Apr 10, 2008 7:28pm Apr 10, 2008 7:28pm
hey guys.....whos actually knows what happen with sterling yesterday, i mean he suddenly drops from 9800 area to 9710 area, can any one explain whats going on
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  • #61,347
  • Apr 10, 2008 7:28pm Apr 10, 2008 7:28pm
Quoting Turveyd
Also been able to lower my stops to 10pips aswell, so when I'm wrong I really don't care.
Typically what TP do you use? Is your trading style scalping off the M5?

TIA
Darkness lies one inch ahead..
  • #61,348
  • Apr 10, 2008 8:02pm Apr 10, 2008 8:02pm
Quoting amangking_81
can any one explain whats going on
The usual - consistently inconsistent movement my friend.
  • #61,349
  • Apr 10, 2008 8:04pm Apr 10, 2008 8:04pm
Quoting sharon_gpl
HI ASYED4,

Everything alright with gbp/usd trade??
Hi Sheryl, Sorry I went to Jim came back shortly. I would say Bad or good. Actually I lost in my problem trade in my Standard account then I went for another lot for Short at 1.9779 and it went alright and I was very lucky that my stop loss was only 2 pips away with almost 40 pips and then I did the spot trading for 10 minutes with short and I got possibly 13 pips and samething I did yesterday a little there and little here. So overall I trimmed my losses about 40%-45% because my problem trade was bad so I have to pay the price. I didn't mind because in this way I have learned a lesson.

I still have few mini lots with shorts from the problem trade since Wednesday morning at 1.9690, 1.9684, 1.9661 in my couple of accounts with PT level I increased between 1.9645-1.9660. I have stop losses around 1.9825/1.9830 because I don't want to put a small stop losses and then if it is rally for few pips then I would be out, I want to see until tomorrow and then I will close my accounts, it is a 50 50 chance to break the 1.9660 level and we will see what happens.

Thanks for your help.
  • #61,350
  • Apr 10, 2008 8:28pm Apr 10, 2008 8:28pm
Quoting TraderJR
Typically what TP do you use? Is your trading style scalping off the M5?

TIA
Trading off the M1, mainly using 3 9 EMA's, 1 High, 1 Close, 1 Low, gives a nice band, got to wait for strength though and get in ASAP. Damn good short term direction system!!

Running a 10pip SL don't want to get stuck in any trades at all.

I only started PROPER scalping today

pips got today :-

2
15
22
14
.2 LOL
4
6
7
7
-.4
7
2
3
-10 ( just fxcm hung doh!! )

=78pips ish on the day, next to no draw down, no long term holds

Stronger the market more pips you'll get, like the first ones. ( expecting 15pips per trade after spread average, if I can get 40pips will try my best ) * 10 trades per day ='s loads of money.

Limited draw downs and tight stop makes trading 2+ lots on a $700 account easy, won't move upto $2 per pip till next week after more testing / experience, but 3 and 4 will soon follow if all goes to plan.


DO NOT TRY to pick bottoms or tops, thats stupid, market moving up GO LONG, first sign of weakness, profit is profit Take it!! easy!!

Starts to turn against you, don't hold and hope, even if in a small loss, kill it look after the pennys.



p.s. my first real day trading momentum day, got racked off with the ass kicking I was getting this week, and finally broke my fear of chasing positions, done it on JPY thought nice, tried it again, liked it, plan to stick with it until it proves to fail


Really happy, i've broke my FEAR of not getting the perfect bottom / top why I trade so little, made more trades today than the last month!!

It's like taking candy from a baby, it's cheating, pure and simple!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,351
  • Apr 10, 2008 8:35pm Apr 10, 2008 8:35pm
HAS ANYONE SEEN THE TEMPLATE FOR APRIL 11TH 2008

Just wondering if it was posted, because i don't see it.

Maybe im blind.
  • #61,352
  • Apr 10, 2008 8:40pm Apr 10, 2008 8:40pm
Quoting dread
HAS ANYONE SEEN THE TEMPLATE FOR APRIL 11TH 2008

Just wondering if it was posted, because i don't see it.

Maybe im blind.
Ummm... that's because Abuawad hasn't posted his table yet.

His latest post was yesterday @ 10:14 AM - nothing else all day. His up and down Targets for yesterday were wrong (were exactly the same as the previous day) - didn't realise until much later tho.

Also see post #61147
Darkness lies one inch ahead..
  • #61,353
  • Apr 10, 2008 9:16pm Apr 10, 2008 9:16pm
Quoting Turveyd
Really happy, i've broke my FEAR of not getting the perfect bottom / top why I trade so little, made more trades today than the last month!!

It's like taking candy from a baby, it's cheating, pure and simple!!
Thanks for sharing all that.

Sounds like you've reached some sort of tipping point and have gone critical - more power 2U

My goal is to be able to double my account at will in a reasonable period (a few month or so) before going live. Wonder if I'll live to see it..
Darkness lies one inch ahead..
  • #61,354
  • Apr 10, 2008 9:20pm Apr 10, 2008 9:20pm
Quoting Turveyd
Trading off the M1, mainly using 3 9 EMA's, 1 High, 1 Close, 1 Low, gives a nice band, got to wait for strength though and get in ASAP. Damn good short term direction system!!

Running a 10pip SL don't want to get stuck in any trades at all.
Be interested to try your system if you care to share it... (only DEMOing)
Darkness lies one inch ahead..
  • #61,355
  • Apr 10, 2008 9:23pm Apr 10, 2008 9:23pm
Another analysis I would like to share from FXCM:

Strategy:[email protected] The pair remains locked in a bear channel since posting highs by 2.0400 on March 14 and we are looking for a fresh top to be set below 2.0050, ideally by falling channel resistance in the 1.9925-50 area. Daily studies are edging lower, but lack any real momentum and the hourlies are oversold. 1.9640/50 is the downside pivot. (ams) 00:05 GMT
end

Al-Syed
Time is Money and
Money has no frontier!!!
  • #61,356
  • Edited 9:54pm Apr 10, 2008 9:25pm | Edited 9:54pm
Just posted the details + screen shots here


http://www.forexfactory.com/showthre...93#post1946593


No reason not to share!!

* edit , it's what we are here for, to help each other out, sadly forums don't work well so it all gets confused and likely has the opposite effect most of the time *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #61,357
  • Apr 10, 2008 10:56pm Apr 10, 2008 10:56pm
Where is Abuawad the master when we need him? Is he on vacation when the market is in turmoil?
Expected the unexpected
  • #61,358
  • Apr 10, 2008 11:06pm Apr 10, 2008 11:06pm
Quoting scyang
Where is Abuawad the master when we need him? Is he on vacation when the market is in turmoil?
His last post 10AM yesterday.

This is a major disadvantage of his system: I believe (so far) only he knows how to generate the various Targets and S/R lines - his PDF nothwithstanding. There is also a lot missing on how to get the best from the system.
Darkness lies one inch ahead..
  • #61,359
  • Edited 11:34pm Apr 10, 2008 11:07pm | Edited 11:34pm
Quoting Turveyd
Trading off the M1, mainly using 3 9 EMA's, 1 High, 1 Close, 1 Low, gives a nice band, got to wait for strength though and get in ASAP. Damn good short term direction system!!

Running a 10pip SL don't want to get stuck in any trades at all.

I only started PROPER scalping today

pips got today :-

2
15
22
14
.2 LOL
4
6
7
7
-.4
7
2
3
-10 ( just fxcm hung doh!! )

=78pips ish on the day, next to no draw down, no long term holds

Stronger the market more pips you'll get, like the first ones. ( expecting 15pips per trade after spread average, if I can get 40pips will try my best ) * 10 trades per day ='s loads of money.

Limited draw downs and tight stop makes trading 2+ lots on a $700 account easy, won't move upto $2 per pip till next week after more testing / experience, but 3 and 4 will soon follow if all goes to plan.


DO NOT TRY to pick bottoms or tops, thats stupid, market moving up GO LONG, first sign of weakness, profit is profit Take it!! easy!!

Starts to turn against you, don't hold and hope, even if in a small loss, kill it look after the pennys.



p.s. my first real day trading momentum day, got racked off with the ass kicking I was getting this week, and finally broke my fear of chasing positions, done it on JPY thought nice, tried it again, liked it, plan to stick with it until it proves to fail


Really happy, i've broke my FEAR of not getting the perfect bottom / top why I trade so little, made more trades today than the last month!!

It's like taking candy from a baby, it's cheating, pure and simple!!
Maybe I'll follow your style when I able to trade full time, 24 hrs a day. But for now I don't dare yet to be a fighter pilot like you. I still a beginner pilot of just only 4 months fly. I still need to know much more all thing about my plane. Trend chart is my 2nd wife to be loved by a strong feel, no rape everywhere and everytime.

Btw happy trade and hopefully always got big success !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #61,360
  • Apr 10, 2008 11:11pm Apr 10, 2008 11:11pm
Quoting scyang
Where is Abuawad the master when we need him? Is he on vacation when the market is in turmoil?
Just share , my view got 1.9706 - 1.9746 for the unknown area.
Attached Image
I only trade XAU/USD. Based on USD news & Fib SR & BB20
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