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Cable Update (GBPUSD)

  • #66,421
  • May 16, 2008 9:37am May 16, 2008 9:37am
Well ive been patiently demo trading and learning with pretty good sucess too. But i lost my job this week and i jumped into it trying to make some money to pay bills and ive been stuck trying to figure out how to turn this trade around.
  • #66,422
  • May 16, 2008 9:37am May 16, 2008 9:37am
Quoting SHarKTooTH
Hi guys,
Just wanted to let you know that I will be supplying "patience pills" from next week, feel free to let me know how many you want to order nAVIN, I got some special ones for you I really hoped that you would be holding on to your longs until the last minute, oh well there is always a next time. Good trading all.

We needed it this week. next week too late
  • #66,423
  • May 16, 2008 9:38am May 16, 2008 9:38am
think its goin short now?
  • #66,424
  • May 16, 2008 9:40am May 16, 2008 9:40am
Quoting nAVIN2007
yes i should have in the end of got fustrated with myself and actually went short, mad with myself and paid the price....if i stuck to my trade orginally id have lost less regardless..this has been the worst week ever trading

totally upset and feel like i could just give up right now ...lost £300 by being 100% stupid
I am really sorry for your loss, bro. How could you have lost if you still had your long positions? Didn't you mention that you had the highest long at somewhere near 1.9565? If that was the case then on average you would be making money now.
  • #66,425
  • May 16, 2008 9:43am May 16, 2008 9:43am
this is a much needed bounce in Cable....
Trading is 80% Emotional, 20% Technical
  • #66,426
  • May 16, 2008 9:45am May 16, 2008 9:45am
Hey Nav, it's always so much easier in hindsight.... Give your self a break
  • #66,427
  • May 16, 2008 9:45am May 16, 2008 9:45am
Long cable here and take profit at 2.1200
greed+gluttony+self-indulgence+craving= success
  • #66,428
  • May 16, 2008 9:46am May 16, 2008 9:46am
Quoting SHarKTooTH
I am really sorry for your loss, bro. How could you have lost if you still had your long positions? Didn't you mention that you had the highest long at somewhere near 1.9565? If that was the case then on average you would be making money now.

forums hey ....people keep telling me against the trend in the end u get confused and it all falls apart....its my fault for simply not trusting myself, what can be said apart from i must learn from this and next time not do this again

i knew that was the bottom ....this right now will go to the top and possible above 2.0 level ....

forum can be good but also cloud yur thoughts......to many ideas floating arounds ....
  • #66,429
  • May 16, 2008 9:48am May 16, 2008 9:48am
Quoting OwningSoros
Long cable here and take profit at 2.1200
????????????????????????????????
1700 pips
y would u think that?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,430
  • May 16, 2008 9:50am May 16, 2008 9:50am
anyway i had enough this week ....have a good weekend all ...
  • #66,431
  • May 16, 2008 9:50am May 16, 2008 9:50am
Quoting nAVIN2007
yes i should have in the end of got fustrated with myself and actually went short, mad with myself and paid the price....if i stuck to my trade orginally id have lost less regardless..this has been the worst week ever trading

totally upset and feel like i could just give up right now ...lost £300 by being 100% stupid
Being impatient and ever overtrading, Navin, that's the source of your failures. And many guys (including me) already told you so several times, so listen to them, finally.

Look, you are trading quite small ammounts (as you somewhere published them). So why not to let the trade live until it is profitable? Especially with longs that even bring you some swap profit? A fast look at the chart tells me that there is hardly 300 pips span within last 8 days. Should you just put any trade in the middle of it perhaps by flipping coin decision, you could have hatched some profit - sooner or later. That is as easy as that. Naturally, put your S/L somewhere really far away (300+ or so), just for emergency and let eventual drawdowns turn back into profit.

Since I abandoned all day study of charts and indicators and started to apply this strategy some half a year ago I started to be profitable - naturally not rich. For this strategy you really need strict mm, i.e. for big drawdowns you can afford to trade only small lots. Still, it is very comforting to see the forex can be mastered.
  • #66,432
  • May 16, 2008 9:51am May 16, 2008 9:51am
Quoting salah k.
????????????????????????????????
1700 pips
y would u think that?


it's the 4th wave up

Let's long cable and become a billionaire !
greed+gluttony+self-indulgence+craving= success
  • #66,433
  • May 16, 2008 10:00am May 16, 2008 10:00am
Goodday every one this my first posting here,just confirming if the trend is still down?
  • #66,434
  • May 16, 2008 10:01am May 16, 2008 10:01am
Nav, this is a 2 hour price movement on a day with thin liquidity. Why don't you sit it out for the day and relax? There is a lot of money to be made here.

Quoting nAVIN2007
forums hey ....people keep telling me against the trend in the end u get confused and it all falls apart....its my fault for simply not trusting myself, what can be said apart from i must learn from this and next time not do this again

i knew that was the bottom ....this right now will go to the top and possible above 2.0 level ....

forum can be good but also cloud yur thoughts......to many ideas floating arounds ....
{Promotion Removed}
  • #66,435
  • May 16, 2008 10:04am May 16, 2008 10:04am
Quoting OwningSoros
it's the 4th wave up

Let's long cable and become a billionaire !
sorry to be a nag
but which wave did u take as the first one

i want to c ur picture
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,436
  • May 16, 2008 10:05am May 16, 2008 10:05am
Quoting nAVIN2007
anyway i had enough this week ....have a good weekend all ...
hey bro everybody had a shitty week with cable
not just u so dont lose confidence
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #66,437
  • May 16, 2008 10:16am May 16, 2008 10:16am
No doubt. I paid the market with GU this week. Fortunately I made good bit of change on EURJPY and USDJPY.

Quoting salah k.
hey bro everybody had a shitty week with cable
not just u so dont lose confidence
{Promotion Removed}
  • #66,438
  • May 16, 2008 10:25am May 16, 2008 10:25am
thanks guys ...i just feel like im cursed right now ..im going to sit this out and think about how i can fix this.....i think writing a set of rues and maybe a start journal might help me examine my trades and posible give others some help...as in what not to do ...

i should have held ....but it seem impossible to know what was happpening and now the event happened every1 wiser...going short was stupid (after the bottom) and bullish pin but there was a 1hr close below the pivot...so going up seemed not the right thing to do but 4hr showed it was at a bottomof a range ...so i was stupid to go short

i going to load up my account again ..blown £900 in 10 weeks (i think) £2,100 left
almost 2 accounts blown...this really isnt easy is it?
  • #66,439
  • May 16, 2008 10:49am May 16, 2008 10:49am
Quoting Moe
im long 1.9463, s/l 1.9415, t/p 1.9609
Well well, we are almost there

Well done, good "call", Moe,
almost like in the old happy days of QuickSilver, FxDaily, Designer1 and so many others I miss so much here.
It was a fun, at that time, don't you think?
  • #66,440
  • May 16, 2008 10:53am May 16, 2008 10:53am
Quoting JanPoko
Well well, we are almost there

Well done, good "call", Moe,
almost like in the old happy days of QuickSilver, FxDaily, Designer1 and so many others I miss so much here.
It was a fun, at that time, don't you think?
i did the smart thing and close half my position at 1.9583, we all had a shitty week trading this pair you can't go wrong taking any profit.
If I Go Broke Trying Then I Will die happy.
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