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Cable Update (GBPUSD)

  • #67,861
  • May 27, 2008 3:48am May 27, 2008 3:48am
Now we wait for New Home sales.
  • #67,862
  • May 27, 2008 3:51am May 27, 2008 3:51am
Quoting Moe
i just took a look at the members at the bottom of this thread, look like we got a new group, i been around this thread since it was started, there been a new group every 2-3 months, some go on to bigger things and some drop off the map never to be heard from again.
I wish some of them were back again. It used to be such a fun, with QuickSilver and others (even FxDaily, remember?)...
  • #67,863
  • May 27, 2008 3:52am May 27, 2008 3:52am
hmm what do you guys think of a sell in the eur/gbp..looks really good for me ?
  • #67,864
  • May 27, 2008 3:54am May 27, 2008 3:54am
Quoting crazy horse
hmm what do you guys think of a sell in the eur/gbp..looks really good for me ?
based on???????
  • #67,865
  • May 27, 2008 3:56am May 27, 2008 3:56am
Quoting pepper
Now we wait for New Home sales.
what's most popular month for home sales, is it this month?
  • #67,866
  • May 27, 2008 3:57am May 27, 2008 3:57am
This thread is news driven.
Only looking for crumbs.......
  • #67,867
  • May 27, 2008 3:58am May 27, 2008 3:58am
Quoting Clouds
what's most popular month for home sales, is it this month?
Spring time, i.e. starting from March through June or July are the busy months for home sales.
Expected the unexpected
  • #67,868
  • May 27, 2008 3:58am May 27, 2008 3:58am
based on many many signals.. more than 5 about.. H&S on daily and on 1 and 4 hour.. doji weekly candle ..the previuos low has taken out on daily ,double repo on weekly chart. do you want more for a sell signal ?
  • #67,869
  • May 27, 2008 4:01am May 27, 2008 4:01am
3
Market rumour in EUR/GBP

Was told yesterday that a huge non-commercial volume was sold yesterday in EUR/GBP. My source told me more than 15Bln of non-commercial (i.e., the ones that make money) paper entered this market short. Obiovusly, they will not make the full move in a day, but I believe it is a good extra confirmation of the current technicalo picture. And the move is just around the corner...
  • #67,870
  • May 27, 2008 4:10am May 27, 2008 4:10am
Quoting crazy horse
3
Market rumour in EUR/GBP

Was told yesterday that a huge non-commercial volume was sold yesterday in EUR/GBP. My source told me more than 15Bln of non-commercial (i.e., the ones that make money) paper entered this market short. Obiovusly, they will not make the full move in a day, but I believe it is a good extra confirmation of the current technicalo picture. And the move is just around the corner...
trade off facts only!
Trading is 80% Emotional, 20% Technical
  • #67,871
  • May 27, 2008 4:11am May 27, 2008 4:11am
Quoting Moe
when it rains it pours
u know it
Attached Image
  • #67,872
  • May 27, 2008 4:14am May 27, 2008 4:14am
Quoting fxdoc
This thread is news driven.
Only looking for crumbs.......
New Home Sales will determine how deep this pullback will be.
  • #67,873
  • May 27, 2008 4:19am May 27, 2008 4:19am
well all this is just showing how weak a trader i actually am ...when i get the direction right i balls it up by not sticking in the trade, last night i exit both shorts cause i thought it could easily go up instead of down....

might have be a flag...

oh well another trade missed which could have come good...

the point is i think in trading in order to make money u have to risk losing it, it seem the carfeull i am the higher tendency to lose money all because im trying to keep it..

or maybe im just to damn emotional in trading
  • #67,874
  • May 27, 2008 4:26am May 27, 2008 4:26am
Quoting nAVIN2007
or maybe im just to damn emotional in trading
Fear of loss is the #1 motivator of man.

One of the best things ever taught to me was a principle called stop funding. Basically if the system you are using has determined that you should have a 20 pip stop on the next trade, once you reach 20 pips profit, take 50% of your trade off the table. That way, even if price came all the way back to your stop, the worst you could do is break even.

Once you do that, the fear of loss is gone and letting a trade run longer is no big deal.
  • #67,875
  • May 27, 2008 4:27am May 27, 2008 4:27am
Quoting nAVIN2007
well all this is just showing how weak a trader i actually am ...when i get the direction right i balls it up by not sticking in the trade, last night i exit both shorts cause i thought it could easily go up instead of down....

might have be a flag...

oh well another trade missed which could have come good...

the point is i think in trading in order to make money u have to risk losing it, it seem the carfeull i am the higher tendency to lose money all because im trying to keep it..

or maybe im just to damn emotional in trading
Imagine driving down the road, without the emotion of fear, that you don't wear your seat belt. Some emotions are good in trading. I do same thing as you, put in trades, exit prematurely, sometimes its good I do, and sometimes not.
  • #67,876
  • May 27, 2008 4:34am May 27, 2008 4:34am
Quoting magnumfreak
Fear of loss is the #1 motivator of man.

One of the best things ever taught to me was a principle called stop funding. Basically if the system you are using has determined that you should have a 20 pip stop on the next trade, once you reach 20 pips profit, take 50% of your trade off the table. That way, even if price came all the way back to your stop, the worst you could do is break even.

Once you do that, the fear of loss is gone and letting a trade run longer is no big deal.
this is something i should try....i go in on 0.1 and it turn out all or nothing...u cant exit some of the position, maybe trying a higher lot size, it may be the answer...thx for tip
  • #67,877
  • May 27, 2008 4:34am May 27, 2008 4:34am
Don’t put yourself down Nav everyone ,(even the ones that do this for a job) has gone through or going through that phase to some degree.
You are not completely confident in your trades which lead to bad decisions. I think you just need to see and believe XYZ works.
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #67,878
  • May 27, 2008 4:36am May 27, 2008 4:36am
Quoting Clouds
Imagine driving down the road, without the emotion of fear, that you don't wear your seat belt. Some emotions are good in trading. I do same thing as you, put in trades, exit prematurely, sometimes its good I do, and sometimes not.
i know buddy ...must be a common thing, i just do it all the time ...lol maybe the trick to exit 80% after a certain pip amount and place rest to break even ..
  • #67,879
  • May 27, 2008 4:38am May 27, 2008 4:38am
Quoting nAVIN2007
the point is i think in trading in order to make money u have to risk losing it, it seem the carfeull i am the higher tendency to lose money all because im trying to keep it..
Truly and fully accepting the risk is really hard to achieve, but unless you do it , you will be controlled by the market.
Solutions imho, are to really asses and accept the risk before entering the trade, and eventually trade smaller, to have emotions on a tight leach...
Getting it right is NOT as important as not getting it wrong.
  • #67,880
  • May 27, 2008 4:39am May 27, 2008 4:39am
Quoting nAVIN2007
i know buddy ...must be a common thing, i just do it all the time ...lol maybe the trick to exit 80% after a certain pip amount and place rest to break even ..
Unless I'm real confident in my trade, I prefer to trade when the market is moving. This way I can watch it go into green, and shortly put my break even, like u said.
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