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Cable Update (GBPUSD)

  • #62,901
  • Apr 25, 2008 7:42am Apr 25, 2008 7:42am
Quoting nAVIN2007
to be honest the candle formation on chart at vital area is the edge in trading if u ask me...i just dont trust them right now as there was a reluctance to go up and then all of a sudden shot up..the candle pattern actually backed the move up, just that i hestitated cause of risk:reward

no way any1 knew it would shot up like it did ..candle stick patterns are the way to trade and are a leading indicator of price action ...but better indicator is there? and as u know already i dont use much less and actuallyapart from exiting winnig trades early ..im doing great....

BUT it's easier to see price action / market direction on a M1 or M5 chart, there is no waiting for a candle to close or need to read them, much better at getting better entry / exit prices to.

Drop the time frame to M30, see if you improve like you have from H4 get used to that, then maybe try M15, see which suites you best.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,902
  • Apr 25, 2008 7:45am Apr 25, 2008 7:45am
There is no emotion in this pair, this is where I used to lose a ton of pips when I first started trading, I am smart enough to leave it alone now, I will trade the E/J channel now for the remainder of the day.

Good luck
  • #62,903
  • Apr 25, 2008 7:45am Apr 25, 2008 7:45am
Quoting Moe
cable been choppy this whole year, there still pips on the table, but cable haven't had a good trending week this year.
Hi, Moe. Lost a lot this week. Just crazy especially yesterday. Trying to make up for my loss with last minute trading. Hope next week will be better.
  • #62,904
  • Apr 25, 2008 7:46am Apr 25, 2008 7:46am
cant see why cable would go down...

1.9980 is my target.
  • #62,905
  • Apr 25, 2008 7:47am Apr 25, 2008 7:47am
i lost $59,000 this week.
If I Go Broke Trying Then I Will die happy.
  • #62,906
  • Apr 25, 2008 7:51am Apr 25, 2008 7:51am
Quoting Moe
i lost $59,000 this week.
this is no laughing matter.

If I Go Broke Trying Then I Will die happy.
  • #62,907
  • Apr 25, 2008 7:52am Apr 25, 2008 7:52am
That reversal down from 9980 area had clear oscillator divergence on the 1 and 5min as well as oscillator extremes 15min and 30min...and on both 30min and 1hr a whole reversal candle closed outside the 20 bol, a case of extremne deviation at resistance.

oscillator divergence/extreme reads coupled with band/channel deviation at clearly identifiable support/resistance/sbr/rbs can be a high probability signal to enter the market, even if against trend, for a pullback/retrace/outright reversal in trend....particularly if such tech conditions extend beyond your trigger t/f
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  • #62,908
  • Apr 25, 2008 7:53am Apr 25, 2008 7:53am
IM PISS, my lost won't hurt my account im just upset my system let me down, FUCK YOU CABLE.
If I Go Broke Trying Then I Will die happy.
  • #62,909
  • Apr 25, 2008 7:54am Apr 25, 2008 7:54am
Quoting Moe
this is no laughing matter.
sorry to hear that, hope u recover from it well....

losing is very tough but hazardous part of this job...


best of luck to you
Trading is 80% Emotional, 20% Technical
  • #62,910
  • Apr 25, 2008 7:54am Apr 25, 2008 7:54am
Quoting hard1head1
There is no emotion in this pair, this is where I used to lose a ton of pips when I first started trading, I am smart enough to leave it alone now, I will trade the E/J channel now for the remainder of the day.

Good luck
u see thats a sign of a great trader, he been calling it all week and now he is getting out cause he realise luck might change and is happy ...good job man
great example of disapline
  • #62,911
  • Apr 25, 2008 7:56am Apr 25, 2008 7:56am
Quoting Moe
this is no laughing matter.
Wow,I thought I did bad....I had pips on the board and the then the news....crashed too quick to stop it...bummer!!
  • #62,912
  • Apr 25, 2008 7:56am Apr 25, 2008 7:56am
Very goo advice, Turvey

Quoting Turveyd
BUT it's easier to see price action / market direction on a M1 or M5 chart, there is no waiting for a candle to close or need to read them, much better at getting better entry / exit prices to.

Drop the time frame to M30, see if you improve like you have from H4 get used to that, then maybe try M15, see which suites you best.
  • #62,913
  • Apr 25, 2008 7:57am Apr 25, 2008 7:57am
Quoting fx local
sorry to hear that, hope u recover from it well....

losing is very tough but hazardous part of this job...


best of luck to you
thax man, i havent seen a lost like this in a long time, im just upset, i woke up and i was down 59k. :surprised
If I Go Broke Trying Then I Will die happy.
  • #62,914
  • Apr 25, 2008 7:58am Apr 25, 2008 7:58am
Quoting Moe
IM PISS, my lost won't hurt my account im just upset my system let me down, FUCK YOU CABLE.
moe buddy dont worry ..yur the best trader i know and all i can say i know u will come back from this, now u just need to rest and dont whatever u do place a trade...till u are happy in the head

i have no doubt u will make it back ..
  • #62,915
  • Apr 25, 2008 7:59am Apr 25, 2008 7:59am
Quoting Moe
i lost $59,000 this week.
Dude, don't post numbers on the negative side that large, gave me a heart attack!!


Your not serious though right ?? or Demo ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,916
  • Apr 25, 2008 8:01am Apr 25, 2008 8:01am
Quoting Turveyd
Dude, don't post numbers on the negative side that large, gave me a heart attack!!


Your not serious though right ?? or Demo ??
man i haven't had a demo in 5 years. this shit is real money bro.
If I Go Broke Trying Then I Will die happy.
  • #62,917
  • Apr 25, 2008 8:02am Apr 25, 2008 8:02am
Quoting Moe
thax man, i havent seen a lost like this in a long time, im just upset, i woke up and i was down 59k. :surprised
If you are serious, how big is / was your account to take a 59K hit, what are you trading at $100 per pip or something ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,918
  • Apr 25, 2008 8:02am Apr 25, 2008 8:02am
the greenback is being driven by speculators... next week is the FOMC meeting, a lot of traders have factored in a 25bps cut by the FED and that’s been factored in as USD weakness... there is now some thought among traders the FED may be nearing the end of this easing cycle and that we will see a less dovish accompanying statement out of the FED so traders are begging to price in the next FED decision as a pause.
Trade smarter not harder.
  • #62,919
  • Apr 25, 2008 8:04am Apr 25, 2008 8:04am
Quoting Moe
man i haven't had a demo in 5 years. this shit is real money bro.

eccckks, my heart just stopped again.

What profit do you average normally per week then ??? is it anywhere near 59K ??? cause it's all relative and 59K to 2years wages for me, I'm hoping it's bugger all for you.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,920
  • Apr 25, 2008 8:05am Apr 25, 2008 8:05am
ok guys i just went over my account statement and the trades i did this week, the lost wasn't as bad as i thought that lost came from this last trade, im realy only down $7,300 for the week after being up 63k, what a bumer on this trade.
If I Go Broke Trying Then I Will die happy.
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