Dislikedvery difficult to know
at least we know one thing doris got it wrong ...Ignored
The last part hasn't occurred yet - so that is the big part we all are waiting for.
Personally, I am short since last friday. So I do hope she got it wrong.
Cable Update (GBPUSD)
I was wondering how you guys read your charts do you wait for the close of candles or do you act on all jerks in the market?
- #73,386
- Jun 30, 2008 7:20am Jun 30, 2008 7:20am
I was wondering how you guys read your charts do you wait for the close of candles or do you act on all jerks in the market?
Trade Like a Robot make money Like a Bank
- #73,388
- Jun 30, 2008 7:24am Jun 30, 2008 7:24am
- | Joined May 2008 | Status: Trader | 1,245 Posts
For me I use the 1hr fo 95% of my trading, and 4hr chart for determining overall situations. My advice would be whatever you decide to make a decision on OPEN/CLOSE/MID of entry/exit just be consistent with it, or you will never be able to develop a trading plan. I choosed to make entries within the last 5 mins of close candle upto the 5 mins of the next open candle. I open up a 1 min time frame, only so I can try and shave off a few pips for good entry. However I choose to only base my decisions on a 1HR chart because indicators are little bit more reliable, anything IMO under like 30 min 15 min and 5 mins and so TFs, the indicators become less and less reliable. Not to discourge anyone to not trade the those time frames. I guess higher gaines can be made on shorter frames, because you can get in on a trade much earlier, however you can also get more false signals. The one drawdown to trading on the 1hr chart is that I tend to get in on trends a little late, thus dimenishing my chances for lengthly pip runs.
. Currently +45 pips. Locked on 22pips. Target around 1.9871 level for me. Not really achievable from my own chart. I have been waiting for this short since laz week.My overall trend for GU still is up up. Cause i saw a bull channel over my GU chart. Juz to take some profit in this small DT.
- #73,389
- Jun 30, 2008 7:25am Jun 30, 2008 7:25am
For me I use the 1hr fo 95% of my trading, and 4hr chart for determining overall situations. My advice would be whatever you decide to make a decision on OPEN/CLOSE/MID of entry/exit just be consistent with it, or you will never be able to develop a trading plan. I choosed to make entries within the last 5 mins of close candle upto the 5 mins of the next open candle. I open up a 1 min time frame, only so I can try and shave off a few pips for good entry. However I choose to only base my decisions on a 1HR chart because indicators are little bit more reliable, anything IMO under like 30 min 15 min and 5 mins and so TFs, the indicators become less and less reliable. Not to discourge anyone to not trade the those time frames. I guess higher gaines can be made on shorter frames, because you can get in on a trade much earlier, however you can also get more false signals. The one drawdown to trading on the 1hr chart is that I tend to get in on trends a little late, thus dimenishing my chances for lengthly pip runs.
nice
- #73,390
- Jun 30, 2008 7:30am Jun 30, 2008 7:30am
I would like to thank all of you that replied to my question. I use the 2 am 4H close to find the direction and used the close of the 30m with Fibs, Pivots, B Bands, and MA's to confirm good entry and continuation of the trend. I think it was Raz who said as long as your consistant and you hit it right on the head. More Pips to all. Im gonna let this fill up the Money Bin a lil more.
Don't Get Bitter, Get Better
- #73,391
- Jun 30, 2008 7:40am Jun 30, 2008 7:40am
- | Membership Revoked | Joined Mar 2005 | 4,703 Posts
If I Go Broke Trying Then I Will die happy.
. There are no news connected to the GPB now, crazy stuff.
- #73,397
- Jun 30, 2008 7:46am Jun 30, 2008 7:46am
- | Joined Nov 2006 | Status: Trader | 5,040 Posts
Same frm me. I was in +45. Juz in a second. I cant find my trade. It's been history... What does happen. Is it the bull abit too over power? some more in the same time?
I have checked and checked, tehre is no news for USD so as GBP???? Am i miss out anything
- #73,398
- Jun 30, 2008 7:46am Jun 30, 2008 7:46am
- | Joined Aug 2007 | Status: Trading make u smarter. | 1,230 Posts
wth going on with gbp, seems like many investors are loving the bad data from uk...
bad, awfull, close to recessionary data, shouldnot mean, weak currency????....
bad, awfull, close to recessionary data, shouldnot mean, weak currency????....
- #73,399
- Jun 30, 2008 7:47am Jun 30, 2008 7:47am
- Joined Jul 2007 | Status: Senior Member | 1,553 Posts
WTF ??????
