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Cable Update (GBPUSD)

  • #62,581
  • Apr 23, 2008 6:52pm Apr 23, 2008 6:52pm
I'm actually a programmer, used to be regarded as the best in my area 20years ago sadly, these I'm a dead beat plain and simple ( shhhh don't tell my clients ), also self taught and I've read ZERO books on programming

But I'm FED up to the back teeth with it and don't want to be doing it anymore, so end of the year I want my company closed and gone and forgotten just to make a modest living from forex!!

Tis the plan, 3months is the dream but time is infinite!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,582
  • Apr 23, 2008 6:58pm Apr 23, 2008 6:58pm
look at a 1 hr chart, make the candles small and pan out from it

now wat do you see? this will give you direction
Don't chase the market, Let the market come to you
  • #62,583
  • Apr 23, 2008 7:00pm Apr 23, 2008 7:00pm
Quoting Turveyd
I'm actually a programmer, used to be regarded as the best in my area 20years ago sadly, these I'm a dead beat plain and simple ( shhhh don't tell my clients ), also self taught and I've read ZERO books on programming

But I'm FED up to the back teeth with it and don't want to be doing it anymore, so end of the year I want my company closed and gone and forgotten just to make a modest living from forex!!

Tis the plan, 3months is the dream but time is infinite!!!
Good luck.
  • #62,584
  • Apr 23, 2008 7:04pm Apr 23, 2008 7:04pm
Quoting Turveyd
I'm actually a programmer, used to be regarded as the best in my area 20years ago sadly, these I'm a dead beat plain and simple ( shhhh don't tell my clients ), also self taught and I've read ZERO books on programming

But I'm FED up to the back teeth with it and don't want to be doing it anymore, so end of the year I want my company closed and gone and forgotten just to make a modest living from forex!!

Tis the plan, 3months is the dream but time is infinite!!!
Take a $20,000 account and make 30 pips a day which is EASY, trade very conservative with 2 full lots, dont get greedy...now do the math $600 a day x 5 days $3000 a week $12,000 a month

When you make your 30, STOP do not overtrade...STOP till tomorrow

if you cannot pull 30 lousy pips from 2 TRILLION then you do not belong in forex.

there is no need to hit the homeruns with 100 and 200 pips, they are nice yes but with good money management you can trade stress free for a couple hours a day and make a really nice living.
Don't chase the market, Let the market come to you
  • #62,585
  • Apr 23, 2008 7:08pm Apr 23, 2008 7:08pm
Quoting Turveyd
Salah, there is a old says regards your learned in books.

If you can't profit trading, write and sell a book!!!


If there making millions, why write a book ??
yeah bro theres actually a better saying:

those who can, DO
but those who can't, teach.

nice one I'm planning on saying it in my graduation to fuck up the teachers before I leave.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,586
  • Apr 23, 2008 7:12pm Apr 23, 2008 7:12pm
Hello everyone.
This pair is moving so nice... wow

Here is something interesting for your analisis and considiration.

Note that the AB=CD formations in progress AB has about the same amount of candle of CD. This is a strong characteristic of this pattern.
Let see....
Attached Image (click to enlarge)
Click to Enlarge Name: Gartley GBP-USD APRIL 23-2008.png Size: 79 KB
  • #62,587
  • Apr 23, 2008 7:12pm Apr 23, 2008 7:12pm
Quoting Tmac
Take a $20,000 account and make 30 pips a day which is EASY, trade very conservative with 2 full lots, dont get greedy...now do the math $600 a day x 5 days $3000 a week $12,000 a month

When you make your 30, STOP do not overtrade...STOP till tomorrow

if you cannot pull 30 lousy pips from 2 TRILLION then you do not belong in forex.

there is no need to hit the homeruns with 100 and 200 pips, they are nice yes but with good money management you can trade stress free for a couple hours a day and make a really nice living.
great idea

only thing missing is 18,000$
hehe

but if i had 20,000$ i would do that but only with 1 lot risking 5% of account and possibly making 6000$ which is great.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,588
  • Apr 23, 2008 7:15pm Apr 23, 2008 7:15pm
Quoting Carrera
Hello everyone.
This pair is moving so nice... wow

Here is something interesting for your analisis and considiration.

Note that the AB=CD formations in progress AB has about the same amount of candle of CD. This is a strong characteristic of this pattern.
Let see....
great to have u back carrera

u have the greatest charts here plus the coolest avatar.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,589
  • Apr 23, 2008 7:23pm Apr 23, 2008 7:23pm
Quoting salah k.
great idea

only thing missing is 18,000$
hehe

but if i had 20,000$ i would do that but only with 1 lot risking 5% of account and possibly making 6000$ which is great.
then you borrow it, payments on $18,000 will be less than $500 a month easy.........25 pips more a month or average 1 per day added to the 30
Don't chase the market, Let the market come to you
  • #62,590
  • Apr 23, 2008 7:31pm Apr 23, 2008 7:31pm
Quoting salah k.
great to have u back carrera

u have the greatest charts here plus the coolest avatar.


however man the ab=cd your using is on a relatively small time frame so wat are the chances it would play out.
Great question!
Usually this type of pattern you will see them at any time frame and they execute very good 7 out 10. This patterns are part of the psychology of the market. That is the reason that sometimes when news are good, price goes the other way and vice versa when news are bad, price goes the other way. The diference is this... If TF is small like 5M 15M even 1H, the TP is going to be according to the TF. 4H and up, the movement are longer because the pattern is bigger.

Just draw a FIB to check how many pips you will get from the bounce of the CD leg. Just see 38% of retracement. Woala, you could get more than 100s pips there. Even better pips when the movement is in favor of the trend. Could go up to 61% fib easily.

So, the pattern could be valid at any TF. The TF will be important for the pips to collect.

I hope this could help. Send me an email here [email protected]. I will send you great information about how this pattern works.
  • #62,591
  • Apr 23, 2008 7:32pm Apr 23, 2008 7:32pm
I need say $2500 per month to be nice, my aim is 50pips per day average, so 50 x 20 = $1000 at 0.1 lots, so at 0.3 lots thats $3000 per month.

The maths sure sounds easy doesn't, never that easy in real life though.

Obviously longer term goal with account growth is $10 per pip and $10,000
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,592
  • Apr 23, 2008 8:26pm Apr 23, 2008 8:26pm
This pair is in the middle of a channel move down. If you kept your short this morning then good for you. If you are out like me, stay out and wait for the next signal.
  • #62,593
  • Apr 23, 2008 8:30pm Apr 23, 2008 8:30pm
I flushed my buy limit since I am now back at my computer,
  • #62,594
  • Apr 23, 2008 8:34pm Apr 23, 2008 8:34pm
Quoting hard1head1
This pair is in the middle of a channel move down. If you kept your short this morning then good for you. If you are out like me, stay out and wait for the next signal.
Could today be shaping up as the inverse of yesterday, with "tweezer bottoms" possibly signalling a move up? (blue arrows - yesterday you used them as a signal for the move down). Yesterday there was confirmation, with price falling slghtly then recovering to a lower high (red arrow), before falling substantially.

What think ye?
Attached Image (click to enlarge)
Click to Enlarge Name: 080424 GBP-USD H1 Inverse of yesterday.gif Size: 65 KB
Darkness lies one inch ahead..
  • #62,595
  • Apr 23, 2008 8:39pm Apr 23, 2008 8:39pm
JR, I look for them to be a bit more even, If you are looking short, wait for a break of the low.

Quoting TraderJR
Could today be shaping up as the inverse of yesterday, with "tweezer bottoms" possibly signalling a move up? (blue arrows - yesterday you used them as a signal for the move down). Yesterday there was confirmation, with price falling slghtly then recovering to a lower high (red arrow), before falling substantially.

What think ye?
  • #62,596
  • Apr 23, 2008 8:42pm Apr 23, 2008 8:42pm
I am going to wait for the price to hit the area of the thick green line on my chart, which is the bottom of the channel.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 54 KB
  • #62,597
  • Apr 23, 2008 8:46pm Apr 23, 2008 8:46pm
Quoting Tmac
if you cannot pull 30 lousy pips from 2 TRILLION then you do not belong in forex.
LOL!!!!!!!!!!!
  • #62,598
  • Apr 23, 2008 8:47pm Apr 23, 2008 8:47pm
But you have to remember, it could go all the way to the Daily UTL, ( Thick White Line ), Which is circa 9650...... Or it could turn right here.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 54 KB
  • #62,599
  • Apr 23, 2008 8:53pm Apr 23, 2008 8:53pm
Another good example is the E/U right now. It is moving closer to the 4 Hr UTL or Outer trend line. When it hits I will put a long order in there since it is a good safe trade and the stop can be placed relatively close and the upside is about 200 pips.
  • #62,600
  • Apr 23, 2008 8:55pm Apr 23, 2008 8:55pm
Cable is a little differant since the area I am looking at is a DTL, and the price could dance down the back for awhile, not so clear an entry.
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