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Cable Update (GBPUSD)

  • #74,921
  • Jul 8, 2008 2:11am Jul 8, 2008 2:11am
Quoting Moe
to many new people in here,
You've got yourself a new fan club Moe, the stories off the only profitable trader on this site must be spreading

Hit your 1.4Mil yet ??? I'm real close to £500
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,922
  • Jul 8, 2008 2:14am Jul 8, 2008 2:14am
no im not in a trade right now, but long look better then short at the momment.
If I Go Broke Trying Then I Will die happy.
  • #74,923
  • Jul 8, 2008 2:16am Jul 8, 2008 2:16am
Quoting JamesCZ
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.

I'm running a high risk averaging down system, $2 per entry currently, main aim is to NEVER take a loss, but when i do take a loss it's HURTS.

I was showing $100 down on my trade just ( which is NASTY ), but +$30 here.

Guess my MAX risk is $200 per trade currently.

Not suggesting you try this, i've got a system which works well and suits this, with it up 100% 6weeks rare trading, without i'd be WIPED in no time.

It beats taking multiple small hits, but you've got to work out what suits your personality then stick with it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,924
  • Jul 8, 2008 2:18am Jul 8, 2008 2:18am
Quoting Turveyd
You've got yourself a new fan club Moe, the stories off the only profitable trader on this site must be spreading

Hit your 1.4Mil yet ??? I'm real close to £500
please no fan club, i too loose money, and yes i was then i lost some still hanging around 1.3 remember i lost it all.
If I Go Broke Trying Then I Will die happy.
  • #74,925
  • Jul 8, 2008 2:20am Jul 8, 2008 2:20am
Quoting Moe
no im not in a trade right now, but long look better then short at the momment.
Just killed my UJ Long for a nice chunk of change

Mixed again here, waiting a safer bet as that was against the trend and STUPID, but way over sold so panned out!!

Waiting a setup!!

Just Smashed the £500, YESSSSSSSSSSSSSSS!!! New highs

* expects a -$200 next trade LOL *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,926
  • Jul 8, 2008 2:23am Jul 8, 2008 2:23am
Quoting Turveyd
I'm running a high risk averaging down system, $2 per entry currently, main aim is to NEVER take a loss, but when i do take a loss it's HURTS.

I was showing $100 down on my trade just ( which is NASTY ), but +$30 here.

Guess my MAX risk is $200 per trade currently.

Not suggesting you try this, i've got a system which works well and suits this, with it up 100% 6weeks rare trading, without i'd be WIPED in no time.

It beats taking multiple small hits, but you've got to work out what suits your personality then stick with it.
It sound like exactly what I have been doing on my demo account. I was risking high pip value and some days I traded almost 50 trades! Yes, I earned 500% in one week, but I don't think this method could give me profits for more than this one week...I think, I will try to start with less pip value and then see what will happened to my account.
-- There's no winner without lose --
  • #74,927
  • Jul 8, 2008 2:27am Jul 8, 2008 2:27am
Quoting Moe
please no fan club, i too loose money, and yes i was then i lost some still hanging around 1.3 remember i lost it all.
Sorry mate, think you already have that on here!!

We all lose, i just lose rarely but with style.

1.3Mil NICE, hey I like my $1000 ( £500 ) status Big improvement from $112 ( £56 ), with £50 margin requirement LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,928
  • Jul 8, 2008 2:27am Jul 8, 2008 2:27am
Quoting JamesCZ
It looks my theory about double tops was bad
Maybe she will go up again to test it and we will realy have double, or maybe triple top? And then, she could fall to 1.9700...but I am afraid to get into a trade
-- There's no winner without lose --
  • #74,929
  • Jul 8, 2008 2:32am Jul 8, 2008 2:32am
Quoting JamesCZ
It sound like exactly what I have been doing on my demo account. I was risking high pip value and some days I traded almost 50 trades! Yes, I earned 500% in one week, but I don't think this method could give me profits for more than this one week...I think, I will try to start with less pip value and then see what will happened to my account.
I've came to the conclusion, markets chop around enough so if I keep averaging down the market will likely get a swing in my direction to get me out with a small profit more often that not.

Last 24trades I've only lost on 3 occasions, 2 of them where stupid cause I read the news doh and fought the trend!!!, 1 was a tight stop which got hit perfectly before a 200pips move in my direction.

Technically I haven't had a GOOD trade that has not chopped me back to a profitable level yet since adopting this
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,930
  • Jul 8, 2008 2:33am Jul 8, 2008 2:33am
Quoting JamesCZ
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?
well yewsterday was around 140+ pips but this doesnt normally happen....half of the guys in here will trade lot sizes way to big and at half again will have no account...every six months or so ....theres new people in here..

high leverage = greed = emotion = risk = possible loss of account

just my 2 pips .have to shoot to work now ...good luck
  • #74,931
  • Jul 8, 2008 2:36am Jul 8, 2008 2:36am
Quoting Turveyd
I've came to the conclusion, markets chop around enough so if I keep averaging down the market will likely get a swing in my direction to get me out with a small profit more often that not.

Last 24trades I've only lost on 3 occasions, 2 of them where stupid cause I read the news doh and fought the trend!!!, 1 was a tight stop which got hit perfectly before a 200pips move in my direction.

Technically I haven't had a GOOD trade that has not chopped me back to a profitable level yet since adopting this
Zeah, I understand. So you are doing exactly what I have been doing on my 4 account before, which are now in the trading heaven I think, this could work, but one day will come 2 or three bad trades and with many, many pips lose and then your account will join the other ones in the trading heaven...but maybe not, I wish you to have better trades than I with this system.
-- There's no winner without lose --
  • #74,932
  • Jul 8, 2008 2:37am Jul 8, 2008 2:37am
LOL Damn ranging market. Guess I'll just keep jammin to Ecstasy of Gold till it makes up its mind.
Don't Get Bitter, Get Better
  • #74,933
  • Jul 8, 2008 2:41am Jul 8, 2008 2:41am
Quoting nAVIN2007
well yewsterday was around 140+ pips but this doesnt normally happen....half of the guys in here will trade lot sizes way to big and at half again will have no account...every six months or so ....theres new people in here..

high leverage = greed = emotion = risk = possible loss of account

just my 2 pips .have to shoot to work now ...good luck
Okay, thanks. How many months (years) do you trade? I will probably try to change my system and will trade only with $0.50 pip value. And I will try to have consistent profits about 50 pips each day for one month. If it will works, than my system could be good...if I will lose my trading account again, many hours of demo trading will be waiting for me:nerd:
-- There's no winner without lose --
  • #74,934
  • Jul 8, 2008 2:41am Jul 8, 2008 2:41am
Quoting nAVIN2007
well yewsterday was around 140+ pips but this doesnt normally happen....half of the guys in here will trade lot sizes way to big and at half again will have no account...every six months or so ....theres new people in here..

high leverage = greed = emotion = risk = possible loss of account

just my 2 pips .have to shoot to work now ...good luck

When your learning and not profitable keep them small, when your profitable then you might aswell bet big, when I start losing I'll scale back down again if needs be, no point wasting your time at $1 for ever.

Look at Moe, he accepts big account swings, cause he knows over all he'll make money trading how he does.

I'm risking 15% of my account, leaving my lots at .2 with upto 3 entrys for the time being as my account grows the 15% drops, and all being well I'll move to .3 with 3 entrys max next month

GREED will kill you.
But FEAR will kill you even quicker, accept it's a gamble and a risk and get on with it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,935
  • Jul 8, 2008 2:49am Jul 8, 2008 2:49am
Quoting JamesCZ
Zeah, I understand. So you are doing exactly what I have been doing on my 4 account before, which are now in the trading heaven I think, this could work, but one day will come 2 or three bad trades and with many, many pips lose and then your account will join the other ones in the trading heaven...but maybe not, I wish you to have better trades than I with this system.
As said James, you need a system to back it up!!

My theory is based on there is too much randomness to ever pick a exact bottom, so why get stopped on the next bit of randomness, why not take advantage of the randomness.

BUT I will say I do need to start holding for bigger profits to offset the loses I will eventually take.

And due to this, I'm less paranoid and scared over my entrys so i make smarter traders in general and more of them used to barely trade before as it was never quite perfect.

This is the first time I've dragged myself out of bed to get the good pips in the am and profited YES
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,936
  • Jul 8, 2008 2:50am Jul 8, 2008 2:50am
Quoting JamesCZ
Okay, thanks. How many months (years) do you trade? I will probably try to change my system and will trade only with $0.50 pip value. And I will try to have consistent profits about 50 pips each day for one month. If it will works, than my system could be good...if I will lose my trading account again, many hours of demo trading will be waiting for me:nerd:
i have been trading just 7 months.....moe uses big lots why????? cause his account can take that risk ...a $800 account at 1$ a pip is ok ...8 trades 100 pip SL account blown...this sound good or bad? risk wise

u should at least have a win rate of 75% on demo to think about live trading
  • #74,937
  • Jul 8, 2008 2:52am Jul 8, 2008 2:52am
Quoting JamesCZ
Okay, thanks. How many months (years) do you trade? I will probably try to change my system and will trade only with $0.50 pip value. And I will try to have consistent profits about 50 pips each day for one month. If it will works, than my system could be good...if I will lose my trading account again, many hours of demo trading will be waiting for me:nerd:
look for high reward: risk trade probabilities and u will be fine
  • #74,938
  • Jul 8, 2008 2:53am Jul 8, 2008 2:53am
Quoting Abuawad
08-07-2008
Looks like its going to open and close inside the unknown area. What do you make of this?
Don't Get Bitter, Get Better
  • #74,939
  • Jul 8, 2008 2:55am Jul 8, 2008 2:55am
Quoting nAVIN2007
i have been trading just 7 months.....moe uses big lots why????? cause his account can take that risk ...eith a 800% account yur risk is through the roof..
Moes account, has 20% swings up and down, which is pretty much the same as my risk.

Without my averaging down / scaling in style I'd likely still be losing money here, rather than flicking through autotrader looking for a new car, hmmmmm.

* new to me £500 TOPS LOL *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #74,940
  • Jul 8, 2008 2:58am Jul 8, 2008 2:58am
Quoting nAVIN2007
i have been trading just 7 months.....moe uses big lots why????? cause his account can take that risk ...a $800 account at 1$ a pip is ok ...8 trades 100 pip SL account blown...this sound good or bad? risk wise
You think, 100 pip SL is ok? I thought, maximum is about 20 pips? You are trading on 1hr, or 4hr chart? When you are talking about 100 pips SL, it must be some of these charts, because there are possible big movements. Maybe this is not bad idea, try to trade on these charts and hold trades about some hours, not just minutes.
-- There's no winner without lose --
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