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Cable Update (GBPUSD)

  • #62,981
  • Apr 25, 2008 11:25am Apr 25, 2008 11:25am
Quoting nAVIN2007
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 ...
50p/pip is not too bad on your amount, but it is obviously affecting your mental state... Maybe u should consider changing brokers. I use Oanda for micro lots, then move up to mini.... Waiting for the day i can move up to full lots
  • #62,982
  • Apr 25, 2008 11:27am Apr 25, 2008 11:27am
Quoting nAVIN2007
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 ...

Ahh but you see on fruit machines I'm a WINNER, I'm in profit on them over the years, only cause I put 30p in while bored as a kid and won £1 so I'm 70p up, only time I've ever put money into them, like being a fruit machine winner difference is fruit machines are rigged plain and simple.

You to trade your system, need to risk the 100SL's atleast to learn with, I suggest you start trading based on that and holding for bigger profits, you've got to force yourself end of the day, if you don't you won't go anywhere.

I've got to force myself to take my setups to rather than being lazy / wussie but i've got 8weeks left, I'm in no hurry!! LOL

* I must not be lazy next week, hopefully over this bug and feeling myself by then to *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,983
  • Apr 25, 2008 11:27am Apr 25, 2008 11:27am
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.
Turveyd, is that $2/pip?
  • #62,984
  • Apr 25, 2008 11:34am Apr 25, 2008 11:34am
Yeah, but only cause I've got my head back in the game and time is running short, likely not wise on a $600 account but hey, got to take risks in this game.

I see, you thought I had my TP at $2 LOL not that much of a scalper
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,985
  • Apr 25, 2008 11:49am Apr 25, 2008 11:49am
Hi guys I'm back n ready for next week....cleared my head so I have my FX mojo back...

I forgot about FX for a day...got some sleep involuntarily..I might add and this morning I realised the new channel that was created...all this time I wasnt seeing it...so my entry points looking back were horrible...

So I have some checklists I need to tick off for setting up a trade. If this helps me to stick to the plan then so be it.
  • #62,986
  • Apr 25, 2008 11:52am Apr 25, 2008 11:52am
Only just got my mojo back, so you better not of nicked mine!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,987
  • Apr 25, 2008 12:05pm Apr 25, 2008 12:05pm
no it aint yours...

I guess when u making some bad trades and cant figure it out, its best to take a breather...get ure composure (free ur mind) and then return to the FX table as it will always be here waiting for u....

I always heard this but never appreciated it till now. Take heed other newbies...
  • #62,988
  • Apr 25, 2008 12:22pm Apr 25, 2008 12:22pm
Well if I start sucking and losing again, can we hook up some kinda time share for this Mojo

Yeah it's too easy to get stuck in a never repeating loop of death, where all of your trades seem to lose cause your just falling for the same market trick from a setup, that likely worked once by luck and fails 99% of the time for instance ( that happened to me recently )



Just took a few pips on the bounce near 1.9800 so guess my Mojo is intact
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,989
  • Apr 25, 2008 1:02pm Apr 25, 2008 1:02pm
hey traders

i dont know if u noticed but this upcoming month should hold the turning point.

i say this because if u check monthly time frame we are in bearish movement however the next candle is gonna touch the line so closing over that might initiate bullish momentum and vice versa.

any comments are appreciated.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,990
  • Apr 25, 2008 1:04pm Apr 25, 2008 1:04pm
one other thing does any one know a site that can offer 24 hour news for oil.

u know basic stuff like supply demand issues.

because the sites i have are shitty.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #62,991
  • Apr 25, 2008 1:24pm Apr 25, 2008 1:24pm
Quoting Doose
Hi guys I'm back n ready for next week....cleared my head so I have my FX mojo back...

I forgot about FX for a day...got some sleep involuntarily..I might add and this morning I realised the new channel that was created...all this time I wasnt seeing it...so my entry points looking back were horrible...

So I have some checklists I need to tick off for setting up a trade. If this helps me to stick to the plan then so be it.
yeah man! most of the time u lose it can be justified as lack of attention or knowledge which is good means we can improve..read all u can bro and sooner or later u will kick yourself for some of the trades u took...

i find this with myself anyways have good weekend and hopefully next week will be our week !!! ..
  • #62,992
  • Apr 25, 2008 3:11pm Apr 25, 2008 3:11pm
Quoting nAVIN2007
yeah man! most of the time u lose it can be justified as lack of attention or knowledge which is good means we can improve..read all u can bro and sooner or later u will kick yourself for some of the trades u took...

i find this with myself anyways have good weekend and hopefully next week will be our week !!! ..

If your losing money it's easy, just do the opposite of what your doing

If your making, don't fix what isn't broken.


All have good weekends, come back refreshed and ready to make a killing!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,993
  • Apr 25, 2008 4:01pm Apr 25, 2008 4:01pm
Hi all, sorry don't feel lke typing againg so here is my analysis

http://www.forexfactory.com/showpost...ostcount=75592
  • #62,994
  • Apr 25, 2008 5:10pm Apr 25, 2008 5:10pm
If you look at the monthly a little closer you will see it is definatly in an uptrend, ole buddy. And there are signs that it will continue as encapsulated in the grey rectangle. The almost erfect set of Tweezer Bottoms and the inverted hammer are telling a story here. They are telling me that the uptrend is about to get more aggressive.

Jim

Quoting salah k.
hey traders

i dont know if u noticed but this upcoming month should hold the turning point.

i say this because if u check monthly time frame we are in bearish movement however the next candle is gonna touch the line so closing over that might initiate bullish momentum and vice versa.

any comments are appreciated.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 48 KB
  • #62,995
  • Apr 25, 2008 5:18pm Apr 25, 2008 5:18pm
Taking into account 1 MONTH charts to gauge Day trading positions, I have truely seen it all know!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #62,996
  • Apr 25, 2008 7:36pm Apr 25, 2008 7:36pm
Quoting Turveyd
Taking into account 1 MONTH charts to gauge Day trading positions, I have truely seen it all know!!
Good for position traders, fairly useless to day traders (unless you're doing stopless).

IMHO what would be good each day is, well before LO, if people would give their opinions (with reasons preferred) on:

* Will main direction for the day be UP or DOWN (or will it be a low range Up/Down day)
* Possiblity of retrace and turn
* Probable targets

My 0.00000000000005¢
Darkness lies one inch ahead..
  • #62,997
  • Apr 26, 2008 2:28am Apr 26, 2008 2:28am
Have A Nice Weekend Traders!
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  • #62,998
  • Apr 26, 2008 3:05am Apr 26, 2008 3:05am
Quoting Turveyd
Taking into account 1 MONTH charts to gauge Day trading positions, I have truely seen it all know!!
That’s absolutely the correct way to do it .
Any new pair start with the monthly then move down but keep an eye on it as this chart can give you 1 pip entries with hundreds or thousands of pips worth of gain.
Although not recently on this pair but take a look at that nice trend up anyone could have got some great trades there and direction was clear.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #62,999
  • Apr 26, 2008 3:33am Apr 26, 2008 3:33am
I posted this monthly plan on April the 6.
I was on holiday when the low happened and not trading.
I see now I may have picked the low of the month within a very few pips.

I also attach my monthly unchanged as it is today and you will see that lower pitchfork line held price perfectly.

The pichfork by the way defines the trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: month.gif Size: 55 KB
Click to Enlarge Name: mon.gif Size: 44 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #63,000
  • Apr 26, 2008 3:45am Apr 26, 2008 3:45am
I am a day trader but my most favourite chart
It’s the Weekly.
Think about it
How many ways can you draw lines on the higher TF’s .
Its not many, and that’s the same for everyone which is why your lines are more than likely the ones everyone is working too.
This is the problem with the lower TF’s there is to much choice and your line may just be your own.
On-site guru & also FF member's' psychiatrist, when not drinking tea
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