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Cable Update (GBPUSD)

  • #77,281
  • Jul 23, 2008 9:50pm Jul 23, 2008 9:50pm
Great article, the crazy money theory. So does that mean that technicals do not capture this kind of thinking that leads to sea changes in the market? with so many technical tools available to the techie, the best method seems to be a mix of fundies, technicals and follow-the-leader. So is cable up or down today? IMHO, no reason for cable to strengthen and will be ready to go short when it reaches 0050.
  • #77,282
  • Jul 23, 2008 9:54pm Jul 23, 2008 9:54pm
Iam currently Long when the previous candles high broke and will watch price action tell me either to hold it or not....also remeber everything against intraday should be treated like a scalp...

the arrows pointing up mean the 38.2 swing long and are holding and keep in mind we are in long condition in the 4 hour swing and we had a nice bounce at the intraday and also keep in mind we reversed yesterday 61.8 fibb....

I will let price guide me and tell me if its worth holding or not.....I have no problem having to reverse or having to take a loss this is trading...

Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.gif Size: 35 KB
  • #77,283
  • Jul 23, 2008 10:03pm Jul 23, 2008 10:03pm
Quoting micho
hello

how many lots?
1 lot per entry
  • #77,284
  • Jul 23, 2008 10:14pm Jul 23, 2008 10:14pm
Quoting DJ4x
1 lot per entry
cool
When life gives you lemons, make lemonade
  • #77,285
  • Jul 23, 2008 10:18pm Jul 23, 2008 10:18pm
Quoting DJ4x
1 lot per entry
Same with me.
Waiting for London open.
  • #77,286
  • Jul 23, 2008 10:18pm Jul 23, 2008 10:18pm
Good morning, evening or afternoon depending upon where your located!

I would also like to know if anyone out there has a beast of a system?
Just digging in the trenches like everyone else!
  • #77,287
  • Jul 23, 2008 10:21pm Jul 23, 2008 10:21pm
Quoting eohater
Good morning, evening or afternoon depending upon where your located!

I would also like to know if anyone out there has a beast of a system?
bonjour

what do you mean a beast of a system???
When life gives you lemons, make lemonade
  • #77,288
  • Jul 23, 2008 10:21pm Jul 23, 2008 10:21pm
Quoting Wijaya
any opinion where the price might go?
i think to meet his GirlFriend
  • #77,289
  • Jul 23, 2008 10:22pm Jul 23, 2008 10:22pm
good morning all
  • #77,290
  • Jul 23, 2008 10:24pm Jul 23, 2008 10:24pm
Quoting warta
good morning all
on behalf of all, good morning wartaaaaaaaaaaaaa
When life gives you lemons, make lemonade
  • #77,291
  • Jul 23, 2008 10:29pm Jul 23, 2008 10:29pm
Quoting micho
i have a question, im curious to know how many lots you play your trades?
2-5
  • #77,292
  • Jul 23, 2008 10:31pm Jul 23, 2008 10:31pm
Quoting micho
i have a question, im curious to know how many lots you play your trades?
5-8
Just digging in the trenches like everyone else!
  • #77,293
  • Jul 23, 2008 10:32pm Jul 23, 2008 10:32pm
Quoting Wijaya
2-5
oh boy, and do you set stop losses or just leave there hanging???
When life gives you lemons, make lemonade
  • #77,294
  • Jul 23, 2008 10:34pm Jul 23, 2008 10:34pm
Quoting eohater
5-8
do you put stop loss or keep it hanging?
When life gives you lemons, make lemonade
  • #77,295
  • Jul 23, 2008 10:41pm Jul 23, 2008 10:41pm
Quoting micho
do you put stop loss or keep it hanging?
It depends on when I get into the market. If I close out a trade, I'm going to place an order in the opposite direction usually. I do have a mental and financial stop loss that I'm not afraid to pull the trigger on if the trade gets out of hand. There are always more trades to take.
Just digging in the trenches like everyone else!
  • #77,296
  • Jul 23, 2008 10:41pm Jul 23, 2008 10:41pm
Quoting micho
do you put stop loss or keep it hanging?
morning michooooooooooooo hows u today ?
  • #77,297
  • Jul 23, 2008 10:43pm Jul 23, 2008 10:43pm
Quoting alsup1955
Yeah, either up or down
LOL yup that's where the price is goin. If you think about it, making money in forex is a 50-50 chance, the odds are pretty good.
  • #77,298
  • Jul 23, 2008 10:44pm Jul 23, 2008 10:44pm
Quoting eohater
It depends on when I get into the market. If I close out a trade, I'm going to place an order in the opposite direction usually. I do have a mental and financial stop loss that I'm not afraid to pull the trigger on if the trade gets out of hand. There are always more trades to take.
well if 5 to 8 lots... that means your account should be big...... like 80,000$??
When life gives you lemons, make lemonade
  • #77,299
  • Jul 23, 2008 10:45pm Jul 23, 2008 10:45pm
Quoting warta
morning michooooooooooooo hows u today ?
cool got some 600$ yesterday
When life gives you lemons, make lemonade
  • #77,300
  • Jul 23, 2008 10:48pm Jul 23, 2008 10:48pm
Retail Sales
As I said before I am in retail sales (day job) In May we had a good month. All I spoke to had a good May. Last month when retail figures came out for May USA, GBP, AUS, Canada and NZ all reported better than expected retail figures.

June for me has not a good month and all I spoke to also did not have a good month (this is across most industries, food clothing real estate) So watching the reports of retail figures this month for June, NZ,USA and CAD worse than expected

NZDhttp://www.forexfactory.com/images/m...mpact_high.gifRetail Sales m/m
http://www.forexfactory.com/images/m...dar_detail.gif -1.2% 0.0%

USDhttp://www.forexfactory.com/images/m...mpact_high.gifRetail Sales m/m
http://www.forexfactory.com/images/m...etail_star.gif 0.1% 0.4%


So when todays GBP retail fig come out I'll be short.....

Trade at your own risk
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