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Cable Update (GBPUSD)

  • #65,301
  • May 12, 2008 9:44am May 12, 2008 9:44am
Quoting hornet
what you mean by over soled ?
sorry over bought
  • #65,302
  • May 12, 2008 9:50am May 12, 2008 9:50am
Quoting nAVIN2007
sorry over bought
nav,

if I may say something....

I think you are too erratic in your trading, you enter too much on gut and first impressions. This one might be right but overall, the feeling I get from your trading is this. Also before you do enter decide on your SL, instead of doing like last week where you were hoping for it to reverse while it kept going down. You must realise that last week you missed out on a lot of short opportunities because you were long and were only seeing things that would indicate a reversal.

Just my 2 cents as constructive criticism, no offense meant.
The quality of your life is brought about by the quality of your thinking.
  • #65,303
  • May 12, 2008 9:52am May 12, 2008 9:52am
By the way, I have nothing against gut feeling. I use it a lot but, I also have rules. And when the rules give me the go ahead I enter
The quality of your life is brought about by the quality of your thinking.
  • #65,304
  • May 12, 2008 9:56am May 12, 2008 9:56am
Well if your reason for being short is still valid and the price has gotten better and you understand if this moves against you then it's time to exit then the thing to do is short a second 0.1 lot here, bring your average up.

Not here exactly hopefully nearer your line so your risking less if you have to exit.

bla bla bla
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #65,305
  • May 12, 2008 10:11am May 12, 2008 10:11am
Quoting hornet
nav,

if I may say something....

I think you are too erratic in your trading, you enter too much on gut and first impressions. This one might be right but overall, the feeling I get from your trading is this. Also before you do enter decide on your SL, instead of doing like last week where you were hoping for it to reverse while it kept going down. You must realise that last week you missed out on a lot of short opportunities because you were long and were only seeing things that would indicate a reversal.

Just my 2 cents as constructive criticism, no offense meant.
i have 80% trade success rate i entered a long based on my price view on what i thought pound should be worth, i also knew market is undecided on direction so as long as i can hold a position i will be fine.

Im experimenting with this account my objective to hold the equity as long as possible so i can practice......thats it ..its all trial and error rright now for me..

and making profit...which im doing already surprisingly
  • #65,306
  • May 12, 2008 10:13am May 12, 2008 10:13am
Quoting nAVIN2007
i have 80% trade success rate i entered a long based on my price view on what i thought pound should be worth, i also knew market is undecided on direction so as long as i can hold a position i will be fine.

Im experimenting with this account my objective to hold the equity as long as possible so i can practice......thats it ..its all trial and error rright now for me..

and making profit...which im doing already surprisingly
ok
The quality of your life is brought about by the quality of your thinking.
  • #65,307
  • May 12, 2008 10:18am May 12, 2008 10:18am
Short at 1.9620
The quality of your life is brought about by the quality of your thinking.
  • #65,308
  • May 12, 2008 10:20am May 12, 2008 10:20am
I am sure for long now ! Just wait a more dip ... hmm pending order 1.9590 ..
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #65,309
  • May 12, 2008 10:21am May 12, 2008 10:21am
Sorry guys, had to run out. Anything happening? I see we ran up to the trendline.
  • #65,310
  • May 12, 2008 10:24am May 12, 2008 10:24am
Quoting hornet
Short at 1.9620
why did you pick that particular price level?
  • #65,311
  • May 12, 2008 10:25am May 12, 2008 10:25am
Quoting hornet
Short at 1.9620
me too!
Patience + Discipline - Greed = Success
  • #65,312
  • May 12, 2008 10:25am May 12, 2008 10:25am
im not expecting to make money .....its all just practice on a live account as apposed to demo just one step up ...this is why im actually not bothered if i miss a great step up..main thing is im growing in confidence and reckon it just a question time b4 it all click in place...must be positive
  • #65,313
  • May 12, 2008 10:26am May 12, 2008 10:26am
Quoting maverick
why did you pick that particular price level?
SL is 1 pip above the high, I entered at the close of the 11.10 candle giving me 1.9620
The quality of your life is brought about by the quality of your thinking.
  • #65,314
  • May 12, 2008 10:26am May 12, 2008 10:26am
I guess I can add to my short now. Anyone been looking at a TP.... 9569 maybe 9530 even.
  • #65,315
  • May 12, 2008 10:27am May 12, 2008 10:27am
Hoping for 1.97 area
Attached Image (click to enlarge)
Click to Enlarge Name: gutoday.gif Size: 32 KB
  • #65,316
  • May 12, 2008 10:30am May 12, 2008 10:30am
Is this not a little uptrend we go here! and just pierced the trendline
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp1.gif Size: 15 KB
Click to Enlarge Name: gbp2.gif Size: 17 KB
  • #65,317
  • May 12, 2008 10:32am May 12, 2008 10:32am
Quoting hornet
Short at 1.9620
can i ask why u shorted there?
  • #65,318
  • May 12, 2008 10:36am May 12, 2008 10:36am
Yep, you got it. If not for the resistance I would say no-brainer...But 9700, Man, I cant believe it would retrace that far, but stranger things have happened. Got to admit, Ima little perplexed here guys, need some input form you this time. I would have thought it be coming down by now.

Quoting Runway Trade
Is this not a little uptrend we go here! and just pierced the trendline
  • #65,319
  • May 12, 2008 10:39am May 12, 2008 10:39am
Long at 1.9620 (not joking with anyone) Small up trend, up day, broke channel line, and above th 50% Fibo. I think we are going to 1.9680
Attached Image (click to enlarge)
Click to Enlarge Name: gbp1.gif Size: 21 KB
  • #65,320
  • May 12, 2008 10:42am May 12, 2008 10:42am
selling at resistance with out confirmation..that is not erratic?
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