Cable Update (GBPUSD)
my feeling is that movement down for a correction from yesterday...it hit excatly the 61 % fib and looks to be on the way up...what do u guys think ..
i exited just incase ...i need better trades, my main problem is and i havent found a solution is i seem to think more logical on a demo and make excellent decision this falls apart when on a live account, even when i go with small lot size...i just dont think the same
Hey Nav,
I think you got your fibs upside down. Try this, unless I have been pulling them the wrong way for 3 years. ANy comments? Looks like 38% to me and it could come back farther as this could be a retrace of the move down.
Jim
cause im sure thats the retrace and 61 would be the right area for to go to ...technically ...
im not sure but surelly 0% will be the swing low and 100 the swing high ..
Well I have it the same as u hard1head1....
When using the fibs for the bull start from the low and swing to the high.
I end with 100% low and 0% at the high.
U have it upside down Navin
..........lol really we have to get this checked out ..i wont be surprise at all
true man .....it just seem what ever i try do the opposite happens ..its nuts
In fact he asked me to tell him about my trades so that he can counter trade them and make some money while I keep losing! 
Then do what my friend suggests d make some money while I keep losing!
my problems as to why i lose are so many but manly dont think the same as demo..i know what im doing but not apply and having the disapline to stick to plan ..i did yesterday and encounter massive loss..so know i worried again about the decision process.....i guess it all part of learning process and it worth the loss especailly u can make it! ..need to be in it to win it
bro ur not doing so bad but i mean u said it the problem is in the entry and im pretty sure its a problem u can handle.
i was doing well till yesterday i incurred no lose whole week but yesterday i placed all the eggs for the short and it broke out...what to do man just bad luck ..entery wasnt to bad either just the damn direction ..
see there diverence and its moving up still .....
For a long time my friend tried to convince me that forex trading is similar to calculated gambling. The lucky keep wining and the unlucky keep loosing. I have tried hard to not agree. With each positive/negative trade I find it harder to convince myself that forex trading is not gambling. I have seen so many heads and shoulders complete and oddly enough fail! Yes the neckline is broken, but the price goes back!
Let’s take a look at GBPUSD. It was forming a perfect H&S and even the fundamentals suggested a detoriating economy for UK. But, look what happened, a spectacular rally on the Pound. Even the USD goes up! Considering the fact that both GBP and USD where weak currencies I started to trade the GBPCHF. And today the CHF goes weaker against the GBP!
Perfect example of fundamentals and technicals going out of whack. So what does that leave? Gambling yup calculated gambling! Going forward I plan to trade with a very open mind. Not caring a damn about fundamentals or technicals. Am keeping my fingers crossed, this may make me a trader or make me give up this calculated gambling forever! Boy this has been the single most difficult thing to learn in my life!
I cud have been up 80pips more this morning. But chickened out. 
