Cable Update (GBPUSD) | Page 3746 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #74,901
  • Jul 8, 2008 3:44am Jul 8, 2008 3:44am
Quoting NuB
I think they only make money of the spread. When people blow there acount that money is just transfered to another trader who is opposite their position, but I feel you. Keep it movin though, they got alot of money on these streets.
Not too sure on this, some brokers only trade your trade on the open market if your a profitable trader over all, if your a long term loser which lets face it 98% of traders are they might aswell take your trade themselves and take all your losses as profits.

FXCM used to do this, but they've became full broker recently.

Used to really notice the difference with FXCM, when I was losing and winning, losing instant fills, winning used to take abit for them to process the trade and lots of rejections.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,902
  • Jul 8, 2008 3:47am Jul 8, 2008 3:47am
Quoting Turveyd
Not too sure on this, some brokers only trade your trade on the open market if your a profitable trader over all, if your a long term loser which lets face it 98% of traders are they might aswell take your trade themselves and take all your losses as profits.

FXCM used to do this, but they've became full broker recently.

Used to really notice the difference with FXCM, when I was losing and winning, losing instant fills, winning used to take abit for them to process the trade and lots of rejections.

I too believe banks & brokers will just accept your trade themselve unless these orders are above $1 million or so, otherwise it's not worth their time, and I believe this is where they make most of their money from retail traders..
  • #74,903
  • Jul 8, 2008 3:48am Jul 8, 2008 3:48am
Quoting Galeforce 10
I look at the chart and pick a spot where if it were to pass that point, I would want to be in the other direction... then I place my stop 5 pips below that.

I almost never have my stop hit.

Keep working on it, I used to have my stop hit all the time till I realized I was just afraid and had it set too close.

Trade small amounts or paper trade until you get it down is my advice.

FX Solutions will let you trade in .10 increments, great way to learn, while keeping losses down.

G10.
Thanks, it sounds good. But could you please more explain to me this part? "I look at the chart and pick a spot where if it were to pass that point, I would want to be in the other direction... then I place my stop 5 pips below that."

Maybe it is because of my english, or something else why I don't understand it. Could you maybe send here some picture?
-- There's no winner without lose --
  • #74,904
  • Jul 8, 2008 3:48am Jul 8, 2008 3:48am
Quoting JamesCZ
Hope you are right. But I will have to really hard think about my system and my MM. I have lost 4 account, now I have acc which is 4x bigger then those before. But it doesn't look this could help me.
I found that it helps if you write your system down. Go back and see if it would have worked over the past months/year. I even put all my data into spread sheet so I can go back and reference it every night to find similarities. Once you find a system that works, STICK to it no matter what.
And remember SYSTEM stands for Save Your Self Time Energy & Money. Anyone can do this but not everyone will. Ask yourself wich one are you, CAN or CAN'T?
Don't Get Bitter, Get Better
  • #74,905
  • Jul 8, 2008 3:49am Jul 8, 2008 3:49am
Where is Moe?

Miss you! Must be nursing a hang over, or too busy with the ladies...
Enlightened.
  • #74,906
  • Jul 8, 2008 3:50am Jul 8, 2008 3:50am
i'm sure these brokers makes tonnes of money anyway, if you click your order, and the price moved in your favour, they reject your trade, but if it moved against your favour, they give you the old price, and on your take profit level, if it slipped against your favour, they slip you, if it shoot passed your limit, they give you your old price, so clearly most of the time, their spreads are way more than 3-4 pips anyway, so just pips alone, they make tonnes of money!
  • #74,907
  • Jul 8, 2008 3:50am Jul 8, 2008 3:50am
Quoting nAVIN2007
what lot size are u using?
As I wrote on some page before, I have mini account with 800$, so I trade 1 mLot on trade...it means 1pip = 1$. Maybe this is too much.
-- There's no winner without lose --
  • #74,908
  • Jul 8, 2008 3:52am Jul 8, 2008 3:52am
Quoting dragoncat
I too believe banks & brokers will just accept your trade themselve unless these orders are above $1 million or so, otherwise it's not worth their time, and I believe this is where they make most of their money from retail traders..
Sadly, betting on us over all losing isn't really a bet it's a sure thing.

I know FXCM don't do this, i know they used to though, they get to keep 1/2 the spread basically.

Wouldn't surprise me, if they stop me out 1 - 2 pips further out than the market though and then keep those 1 - 2 pips themselves, all adds up over millions of trades.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,909
  • Jul 8, 2008 3:53am Jul 8, 2008 3:53am
hi JamesCZ, I spend my weekends going through old data and back testing my system & signals before I put them to use, and I make sure they reach more than 1:1 risk/reward (limit:stop) ratio, and the accuracy have to be above 90% before i put them to use, I still make mistakes mis-spotting the signals when the market moves too quickly, hope that gives you some idea
  • #74,910
  • Jul 8, 2008 3:54am Jul 8, 2008 3:54am
hi Turveyd, they still give up to 1/2 pips to the referer of the account, I never would refer anyone to them though, after all I've been through with! haha...
  • #74,911
  • Jul 8, 2008 3:57am Jul 8, 2008 3:57am
Quoting NuB
I found that it helps if you write your system down. Go back and see if it would have worked over the past months/year. I even put all my data into spread sheet so I can go back and reference it every night to find similarities. Once you find a system that works, STICK to it no matter what.
And remember SYSTEM stands for Save Your Self Time Energy & Money. Anyone can do this but not everyone will. Ask yourself wich one are you, CAN or CAN'T?
Maybe it would help, because as I am thinking about my system, I really don't have any exact system. I trade using many methods, sometime using fibo, sometimes using breaking the supp or resist...and many other methods. Maybe I should use only one or two and just wait when these two give me a signal and no other. I think, today I will spend many hours about thinking of my system...it looks, everything wasn't clear for me till today.
-- There's no winner without lose --
  • #74,912
  • Jul 8, 2008 3:59am Jul 8, 2008 3:59am
Quoting JamesCZ
As I wrote on some page before, I have mini account with 800$, so I trade 1 mLot on trade...it means 1pip = 1$. Maybe this is too much.
Similar size to my account, I trade upto $6 per pip, but i'm Nuts.

Lots size should be dependant on your last batch of trades, if profitable go nuts, if losers go as small as possible but below $1 sounds kinda pointless to me.

I chart my account with Excel and make notes on every trade, stops me slipping into bad trading habits if nothing else, I also work out my win % rate, average lose value, average profit value, i find it helps.

I pulled my first trades off the report into excel, $200 added, $200 lost without 1 win a few times sad really.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,913
  • Jul 8, 2008 4:02am Jul 8, 2008 4:02am
Quoting Galeforce 10
Where is Moe?

Miss you! Must be nursing a hang over, or too busy with the ladies...
to many new people in here, ,
If I Go Broke Trying Then I Will die happy.
  • #74,914
  • Jul 8, 2008 4:03am Jul 8, 2008 4:03am
Quoting Turveyd
Similar size to my account, I trade upto $6 per pip, but i'm Nuts.

Lots size should be dependant on your last batch of trades, if profitable go nuts, if losers go as small as possible but below $1 sounds kinda pointless to me.

I chart my account with Excel and make notes on every trade, stops me slipping into bad trading habits if nothing else, I also work out my win % rate, average lose value, average profit value, i find it helps.

I pulled my first trades off the report into excel, $200 added, $200 lost without 1 win a few times sad really.
So you are really risking as I see. $6 on trade, how many percents of your account by month do you win? I counted, if I will trade with $1, sometimes $2 by pip, I could have 200% per month...but it seems, I will lose my 5th trading account, if something great wouldn't happened.
-- There's no winner without lose --
  • #74,915
  • Jul 8, 2008 4:04am Jul 8, 2008 4:04am
Quoting JamesCZ
As I wrote on some page before, I have mini account with 800$, so I trade 1 mLot on trade...it means 1pip = 1$. Maybe this is too much.
i trade 0.1 mini lot which i think is the same and i have 2K ...u are trading to big a lot size, forget about making money just get a feel for the market and trade keep it small this way u have everychance of getting out of the mess..

if i had traded 1 lot size id have no account.....

mm is key to keeping yur account...as time passes and yur account grows u can step it up a bit, then keep doing that till u become a pro

yesterday i stayed out of forum just to give my trading a bit of concentration..with 0.1 lot size trades i grew my account by 10% so dont think about short term ....think long term..

what u know about trading now u will laugh at in 6 months and likely kick yourself about the trading decision u made ..invest in the longer term

good luck buddy...
  • #74,916
  • Jul 8, 2008 4:05am Jul 8, 2008 4:05am
It looks my theory about double tops was bad
-- There's no winner without lose --
  • #74,917
  • Jul 8, 2008 4:07am Jul 8, 2008 4:07am
Quoting Moe
to many new people in here, ,
I'm new! I feel like I found a home with Cable though. Hopefully the thread continues to help the new people, myself included.

Are you in a position today Moe?
Enlightened.
  • #74,918
  • Jul 8, 2008 4:08am Jul 8, 2008 4:08am
Quoting tarektm
i have longed
Buhahaha!!!

Hey, guy! Donīt be emotional, and at this time, you are on right side!

Obviously, can change anytime...so, make right decisions and just look for few pips (like 20 pips per trade)...always use SL and be objective...donīt be like this guy here:

Inserted Video


Good luck & success!

Samuel
  • #74,919
  • Jul 8, 2008 4:09am Jul 8, 2008 4:09am
Quoting nAVIN2007
i trade 0.1 mini lot which i think is the same and i have 2K ...u are trading to big a lot size, forget about making money just get a feel for the market and trade keep it small this way u have everychance of getting out of the mess..

if i had traded 1 lot size id have no account.....

mm is key to keeping yur account...as time passes and yur account grows u can step it up a bit, then keep doing that till u become a pro

yesterday i stayed out of forum just to give my trading a bit of concentration..with 0.1 lot size trades i grew my account by 10% so dont think about short term ....think long term..

what u know about trading now u will laugh at in 6 months and likely kick yourself about the trading decision u made ..invest in the longer term

good luck buddy...
I thought my pip value is so big. But if you will look what nutter wrote, he is trading with $6 pip value and with account similar like mine. May I ask, how many pips per day do you usually win?
-- There's no winner without lose --
  • #74,920
  • Jul 8, 2008 4:11am Jul 8, 2008 4:11am
Quoting JamesCZ
Maybe it would help, because as I am thinking about my system, I really don't have any exact system. I trade using many methods, sometime using fibo, sometimes using breaking the supp or resist...and many other methods. Maybe I should use only one or two and just wait when these two give me a signal and no other. I think, today I will spend many hours about thinking of my system...it looks, everything wasn't clear for me till today.
I think today was your AH HAaa moment. It doesn't matter what tools you use just as long as it works consistently and your comfortable. Professionalize your system and you make professional money. If you treat it like a hobby and hop back and forth to whatever you feel like doing at the time, you will make hobby money.
Don't Get Bitter, Get Better
405 traders viewing now, 2 are registered:
,
CPUmice