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Cable Update (GBPUSD)

  • #76,481
  • Jul 18, 2008 12:37pm Jul 18, 2008 12:37pm
Quoting 2be
Hi Navin,
you are absolutely right re overtrading.
How are you doing now.
Best wishes to all, and many good trades,
2be
i did well this week......very happy about my trading decisions, im not sure but i think i made 380-400 pips on cable this week..which is something to be proud about ....thanks to every who has shown support to me (including yourself) in the past

thank u...
  • #76,482
  • Jul 18, 2008 1:04pm Jul 18, 2008 1:04pm
Quoting nAVIN2007
i did well this week......very happy about my trading decisions, im not sure but i think i made 380-400 pips on cable this week..which is something to be proud about ....thanks to every who has shown support to me (including yourself) in the past

thank u...

380-400 thats coming along, I do fear though there will be too many millionaires on this thread in time
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #76,483
  • Jul 18, 2008 1:19pm Jul 18, 2008 1:19pm
Quoting Turveyd
380-400 thats coming along, I do fear though there will be too many millionaires on this thread in time
ABSOLUTELY...i will never mention it again....i just wanted to causee ive had a few guys pm me..giving me advise and hints and i think it only right to share a progress report....especially when im complaining mostly .... make a change huh?

also u know me only trading 0.1.....so i need huge pips to give a result
  • #76,484
  • Jul 18, 2008 1:41pm Jul 18, 2008 1:41pm
Quoting nAVIN2007
ABSOLUTELY...i will never mention it again....i just wanted to causee ive had a few guys pm me..giving me advise and hints and i think it only right to share a progress report....especially when im complaining mostly .... make a change huh?

also u know me only trading 0.1.....so i need huge pips to give a result
Great post! Many more pips to you nAVIN. Let the compounding work with you and keep your risk in check.
  • #76,485
  • Jul 18, 2008 1:50pm Jul 18, 2008 1:50pm
Great Job Nav!
USD Est Non Mortuus
  • #76,486
  • Jul 18, 2008 2:13pm Jul 18, 2008 2:13pm
Quoting nAVIN2007
i did well this week......very happy about my trading decisions, im not sure but i think i made 380-400 pips on cable this week..which is something to be proud about ....thanks to every who has shown support to me (including yourself) in the past

thank u...
Congrats... i love those weeks...I been following this thread for quite some time, and I have been able to gain some pips from all of you. however in the last 2 weeks i'm down 300 - 400 pips... i been out since tuesday...i need to refocus..
i'm a newbie working with a mini account... my plan is to give it another 5 months then maybe start working with some real dough!!!
any opinions for next week?
show me some charts

good weekend everyone!
  • #76,487
  • Jul 18, 2008 4:39pm Jul 18, 2008 4:39pm
Naked Gu weekly chart.....

We could see some more bearish action next week based on this week's close. The long wick at the top and the close below 2.000 could take us back down to 9800 area. If 9800 is taken out then we could possibly be heading back down to 9600 area. Next week should be interesting....
Attached Image (click to enlarge)
Click to Enlarge Name: guweek.GIF Size: 16 KB
Patience + Discipline - Greed = Success
  • #76,488
  • Jul 18, 2008 5:50pm Jul 18, 2008 5:50pm
Quoting nAVIN2007
ABSOLUTELY...i will never mention it again....i just wanted to causee ive had a few guys pm me..giving me advise and hints and i think it only right to share a progress report....especially when im complaining mostly .... make a change huh?

also u know me only trading 0.1.....so i need huge pips to give a result
Even at 0.1 you can get to the Mil++ dude, easy.

The problem is cracking how to live to 47,247

Although if the inflation goes up like I expect in the UK soon, that'll be a weekly wage
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #76,489
  • Jul 18, 2008 6:02pm Jul 18, 2008 6:02pm
Quoting Infinity
I am not a fan of Elliott or his waves......but I love trend lines and MAs..
I still fancy long but I will wait on day close...
Yes, it's on its way up. The sooner you get in the better chance according to the chart and current US economy trend.
{Promotion Removed}
  • #76,490
  • Jul 18, 2008 6:03pm Jul 18, 2008 6:03pm
Quoting Infinity
Naked Gu weekly chart.....

We could see some more bearish action next week based on this week's close. The long wick at the top and the close below 2.000 could take us back down to 9800 area. If 9800 is taken out then we could possibly be heading back down to 9600 area. Next week should be interesting....

I agree 100%. Its a combo of Gbp dominated news(not much us publish on the dock), Overpriced $ doom and gloom ($ could seriously rally here), Oil might tank, Technically theres a lot of room for downside adjustment.

With all that said, I'm waiting for a nice adjustment, then going long!
USD Est Non Mortuus
  • #76,491
  • Jul 18, 2008 9:14pm Jul 18, 2008 9:14pm
Pivot lines fixed Indicator ... hope u all like it. One of the best. IMO


http://www.forexfactory.com/images/editor/attach.gif
Attached File(s)
File Type: mq4 Pivot lines fixed.mq4   18 KB | 335 downloads
  • #76,492
  • Jul 18, 2008 9:25pm Jul 18, 2008 9:25pm
Quoting forexpert
Yes, it's on its way up. The sooner you get in the better chance according to the chart and current US economy trend.
Isn't the United Kingdom in the same economical down trend as US? Looking at the numbers they fundamentally seem worse. I expected GBP to stay above 2.00 during the last run up. Didn't see dropping below so fast. Do you ever short GBP?
  • #76,493
  • Jul 18, 2008 10:11pm Jul 18, 2008 10:11pm
Quoting Manny
Congrats... i love those weeks...I been following this thread for quite some time, and I have been able to gain some pips from all of you. however in the last 2 weeks i'm down 300 - 400 pips... i been out since tuesday...i need to refocus..
i'm a newbie working with a mini account... my plan is to give it another 5 months then maybe start working with some real dough!!!
any opinions for next week?
show me some charts

good weekend everyone!
I am a newbie too, starting forex just 6 months ago. I was rather ambitious in the beginning, wanting to make it big fast. Had a large account and entered big lots. Had some heavy losses, almost halved my account. But just now getting the hang of it. Not easy for sure, to tame this forex beast. But I have now doubled my account finally.

Believe cable has some downward potential, same with fiber, this next week. Let's see how it pans out.
Expected the unexpected
  • #76,494
  • Jul 19, 2008 6:24am Jul 19, 2008 6:24am
Quoting scyang
I am a newbie too, starting forex just 6 months ago. I was rather ambitious in the beginning, wanting to make it big fast. Had a large account and entered big lots. Had some heavy losses, almost halved my account. But just now getting the hang of it. Not easy for sure, to tame this forex beast. But I have now doubled my account finally.

Believe cable has some downward potential, same with fiber, this next week. Let's see how it pans out.

how long did it take to double yur account from when u lost half?
  • #76,495
  • Jul 19, 2008 6:24am Jul 19, 2008 6:24am
I also think Cable will drop next week. Stochs on Daily are relatively high and have recently crossed down. The shape of the Stochs looks good as well.
  • #76,496
  • Jul 19, 2008 7:02am Jul 19, 2008 7:02am
Quoting nAVIN2007
how long did it take to double yur account from when u lost half?
It was within the last 1.5 months that I made a steady upward movement in my account value. Taking a look at my account history, I realize that at the worst time, I was down by 2/3 of the account value. It was a tough uphill fight. I mostly definitely don't say that I understand how this market behaves. If anything, I would say to always expect the unexpected.
Expected the unexpected
  • #76,497
  • Jul 19, 2008 7:07am Jul 19, 2008 7:07am
Quoting scyang
I am a newbie too, starting forex just 6 months ago. I was rather ambitious in the beginning, wanting to make it big fast. Had a large account and entered big lots. Had some heavy losses, almost halved my account. But just now getting the hang of it. Not easy for sure, to tame this forex beast. But I have now doubled my account finally.

Believe cable has some downward potential, same with fiber, this next week. Let's see how it pans out.
Just to clarify, it is only my prediction that cable and fiber will continue to fall. I am not holding any positions currently. All trades were closed before the end of the week. I am not confident enough of where things will go. Many things will come into play next week.
Expected the unexpected
  • #76,498
  • Jul 19, 2008 11:25am Jul 19, 2008 11:25am
Weekend musings...

The technical stuff is ok but the market is at the mercy of contrarian thinking and world events which might be interpreted 180 degrees different to what you and I would imagine.

I am of the opinion that all that matters is channels and a huge reversal can take place at any second for the most obscure of reasons

My Conclusion: I establish the trend and the channels and buy the dips (opposite for a bear market)

I let it ride at least 24 hours and get out when two big candles have gone my way no matter where they are in the channel

Stop losses are 100% certain to be triggered if they are too close so only big stop losses are used which will still maintain a big part of the account balance

The rules change every few days and what is a big stop loss in a steady market will not be big if it is hugely choppy - so no rigid strategy can work when the rules are changing every few seconds.

In that respect, overly technical systems are bound to fail

News - I learned my lesson when the drip drip of bad US news took the dollar down and down - until suddenly the market took the view that this would cause a world recession where the USD would be the reserve currency, so the next very bad US news took the USD up ! Conclusion - I don't trust or self-interpret news because I can be wrong about reaction even if I am right in economic theory terms

and if there is no trend and no obvious dip ? I stay out except for very minor dabblings to stay in touch and reinforce my own fallibility so I don't get cocky
  • #76,499
  • Edited 1:06pm Jul 19, 2008 11:29am | Edited 1:06pm
im going with buy the dips...we in a uptrend and dailly formed a bulish pin ...but as usaul i suspect it will go right to support and thats my dip....and shall buy.

good luck folks and enjoy the weekend
  • #76,500
  • Jul 19, 2008 12:54pm Jul 19, 2008 12:54pm
i hate Elliot
i hate trend lines
i hate oscillators and MA
i hate trends
i hate volumes
i love money
When life gives you lemons, make lemonade
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