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Cable Update (GBPUSD)

  • #62,961
  • Apr 25, 2008 9:33am Apr 25, 2008 9:33am
Quoting Moe
:surprised, then you don't have a dream, don't limit yourself.
$20 per pip and taking average 100pips per day = $2000 per day, which is what I earn in a month, so to me that is a dream!!

Tis all relative!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,962
  • Apr 25, 2008 9:34am Apr 25, 2008 9:34am
Quoting DJ4x
exactly, so u live to trade another day.... isn't that the point?

absolutely...
  • #62,963
  • Apr 25, 2008 9:36am Apr 25, 2008 9:36am
Your sounding happier anyway Navin, good.

I feel rough, so it's kicked in my can't be arsed lazy mode this week, +$84 or something though, so do me!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,964
  • Apr 25, 2008 9:38am Apr 25, 2008 9:38am
Quoting Turveyd
$20 per pip and taking average 100pips per day = $2000 per day, which is what I earn in a month, so to me that is a dream!!

Tis all relative!!

lets just put it this way if he trades 50 lots minimum and get 100 pips a day average which i know he does..it gives u an idea and its great man ..seeing someone living yur dream makes u closer to the dream ..dont worry we will get there but dude aint happening on 1 M time frame the stress of it would kill u ...rofl
  • #62,965
  • Apr 25, 2008 9:40am Apr 25, 2008 9:40am
Quoting Turveyd
Your sounding happier anyway Navin, good.

I feel rough, so it's kicked in my can't be arsed lazy mode this week, +$84 or something though, so do me!!

thats a great week man .... in fact any week without a lose has to be good ..
  • #62,966
  • Apr 25, 2008 9:44am Apr 25, 2008 9:44am
Quoting nAVIN2007
thats a great week man .... in fact any week without a lose has to be good ..
ooh, i'll second that
  • #62,967
  • Apr 25, 2008 9:45am Apr 25, 2008 9:45am
Quoting nAVIN2007
thats a great week man .... in fact any week without a lose has to be good ..
Absolutely.
  • #62,968
  • Apr 25, 2008 9:52am Apr 25, 2008 9:52am
Go go go
USD Est Non Mortuus
  • #62,969
  • Apr 25, 2008 9:55am Apr 25, 2008 9:55am
flag formation ...looking good for long just need to pass weekly pivot
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  • #62,970
  • Apr 25, 2008 10:02am Apr 25, 2008 10:02am
Quoting nAVIN2007
lets just put it this way if he trades 50 lots minimum and get 100 pips a day average which i know he does..it gives u an idea and its great man ..seeing someone living yur dream makes u closer to the dream ..dont worry we will get there but dude aint happening on 1 M time frame the stress of it would kill u ...rofl
You realise its the same market regardless of the TF, just some people like DETAIL and loads of it and some people don't.

Would I trade better on 30second charts YES!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,971
  • Edited 10:09am Apr 25, 2008 10:04am | Edited 10:09am
I think Moe is one of few experienced guy I met on this thread, it takes gut for someone to report losses. The other few ones are QuickSilver, Forexguru. I dunno what is happening to them especially QuickSilvers.

I think the devil must have played some tricks on Moe, things happened.

The other thing is that there are too many people coming and going brandishing their charts all with the hope of getting attention. Others shooting down others.

This is not a self promotion but this what I said on last Monday how the market will behaviour this week. But I am not sure if any person took note of it. But that is how market behavioured up till this moment dead accurate!

Links:
http://www.forexfactory.com/showpost.php?p=1962232&postcount=62243
Quoting fxbroker
Year I left at +121 pips - and left bigger chunck 124 out.

Last week chaos - market cycle started bullish and end on friday bullish; this week cycle started bearish pointing down to 9684/9604 where it was a week before last week.
If people take care to view market as cycles not misterious monster or based on some Fibo numbers which is wrong anyway, they will do well. I have an indepth research on how to view market cycles as seconds, minute, hourly, daily market, weekly, monthly, quarterly and yearly market cycles.
This line of thinking is not in line with orthodox theories, but the facts are there for those who are interested to know how to use the knowledge.

That is how things are whether we believe or deviate from it or not. Things will still happen and work they way they are met to work.
  • #62,972
  • Apr 25, 2008 10:06am Apr 25, 2008 10:06am
What a Bus Ride it's been today ladies and gentlemen!!!

I hope plenty of people got on board!

Have a great weekend out there in forexland.

Rob
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  • #62,973
  • Apr 25, 2008 10:11am Apr 25, 2008 10:11am
...good picture

have a good weekend

yeah cable this week has been rough i never seen 1 hr candle have so many pips carried with it .....mm saved my backside from losses ..
  • #62,974
  • Apr 25, 2008 10:31am Apr 25, 2008 10:31am
Quoting nAVIN2007
nope im not im a position trader but right now ..emotions are stoping me from staying in winning positions...i knew the big moves where there and when they were happening, it just this week i didnt want to over trade and am concerned with good entery..

i have placed 3 trades for the week only and exited after getting 30 pips total ...im at a profit this week cause i didnt over trade...waiting for the right setups is impt for me and i just have a few things missing and when i get it right ..i shall take off i know it!

moe places trade everyday and exits same day .....just goes for home runs, im happy to find a trend, get in a leave it ...this is what im working towards...and where i wanna be, so i dont have to worry about news and retracement and stuff
Nav,

What I have learned is that our emotions get the better of us if we are trading amounts which are too large for us. If my trade plan includes a stop loss of 100 pips, I need to be totally comfortable seeing that 100 pips get taken out. I need to be trading a lot size which is not large enough to make me 'react' and not stick to my original plan.

Whether each tick is worth 1c, $1, $10, $100, $1000 ...we all have a level that we can handle mentally. We all need to adjust our trade size according to this and of course the 1 or 2% rule is well touted by authors such as Alexander Elder and Mark Douglas, etc. The 1 or 2% will of course reflect the size of our individual accounts. Both have written great books which help us in what is probably the most challenging aspect of trading.

For me, finding the right trade size allowed me to trade my plan with confidence, regardless of whether the trade turns out to be a winner or a loser. Because although I might feel that I have an edge, I will always get it wrong sometimes, and that's ok. It has to be ok.

Have a good weekend.

I've got a pub to go to
Rob
  • #62,975
  • Apr 25, 2008 10:35am Apr 25, 2008 10:35am
Quoting priceaction
Nav,

What I have learned is that our emotions get the better of us if we are trading amounts which are too large for us. If my trade plan includes a stop loss of 100 pips, I need to be totally comfortable seeing that 100 pips get taken out. I need to be trading a lot size which is not large enough to make me 'react' and not stick to my original plan.

Whether each tick is worth 1c, $1, $10, $100, $1000 ...we all have a level that we can handle mentally. We all need to adjust our trade size according to this and of course the 1 or 2% rule is well touted by authors such as Alexander Elder and Mark Douglas, etc. The 1 or 2% will of course reflect the size of our individual accounts. Both have written great books which help us in what is probably the most challenging aspect of trading.

For me, finding the right trade size allowed me to trade my plan with confidence, regardless of whether the trade turns out to be a winner or a loser. Because although I might feel that I have an edge, I will always get it wrong sometimes, and that's ok. It has to be ok.

Have a good weekend.

I've got a pub to go to
Rob
yes yur right ...i will have to think in the weekend only thing im trading 50p a pip and i feel maybe i need to go lower perhaps....100 pip SL means i lose £50 on £2,200 thats a bit high i think......more than 2%

and thats the lowest my broker goes ...
  • #62,976
  • Apr 25, 2008 10:43am Apr 25, 2008 10:43am
Quoting nAVIN2007
yes yur right ...i will have to think in the weekend only thing im trading 50p a pip and i feel maybe i need to go lower perhaps....100 pip SL means i lose £50 on £2,200 thats a bit high i think......
Nav,

I think that once you make a reasonable deal with yourself concerning lot size, you will feel increased comfort and confidence in your trading. In fact it's quite a nice feeling and your trading will also be more enjoyable.

I know we all love the idea of trading a bigger lot size than we should but it's just not good business sense, and at the end of the day, this is about running a business and we need to do it smartly if the business is to succeed.

Now I really must go get that beer.

Cheers all.
Rob

PS I use Alpari and they allow you to trade micro, mini as well as full lots.
  • #62,977
  • Apr 25, 2008 10:48am Apr 25, 2008 10:48am
2.27% there Navin, thats close enough, Moe runs at 10% so 2.27% is fine.

As long as your profitable and can mentally handle it, then use as big a lot size as you can in theory, be a waste of time and money not to.

I've moved upto $2 per trade, focus's the mind recently at my stop I'm @5% which is fine for me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,978
  • Apr 25, 2008 10:48am Apr 25, 2008 10:48am
Quoting priceaction
Nav,

I think that once you make a reasonable deal with yourself concerning lot size, you will feel increased comfort and confidence in your trading. In fact it's quite a nice feeling and your trading will also be more enjoyable.

I know we all love the idea of trading a bigger lot size than we should but it's just not good business sense, and at the end of the day, this is about running a business and we need to do it smartly if the business is to succeed.

Now I really must go get that beer.

Cheers all.
Rob

PS I use Alpari and they allow you to trade micro, mini as well as full lots.
CHEERS buudy ....good advise i think this is something i need to do, its just the emotion that makes it all fall apart..i will do this definately, thx man
  • #62,979
  • Apr 25, 2008 10:52am Apr 25, 2008 10:52am
Quoting Turveyd
2.27% there Navin, thats close enough, Moe runs at 10% so 2.27% is fine.

As long as your profitable and can mentally handle it, then use as big a lot size as you can in theory, be a waste of time and money not to.

I've moved upto $2 per trade, focus's the mind recently at my stop I'm @5% which is fine for me.
thats the problem man , even 50p a pip is hectic for me ...it effects my decisions...u have to understand im a guy never in my life have i liked losing money, i never gambled b4 and then i find forex......lol

i never even played a fruit machine cause of the idea of gambling..the feeling i get when im in a trade, i hate it ..

if i can just do what i do on a demo i will be sweet ...
  • #62,980
  • Apr 25, 2008 11:21am Apr 25, 2008 11:21am
short GBPUSD and EURUSD should be good and take a small profit at just arround 10-20pips as well.should be done to nite
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