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Cable Update (GBPUSD)

  • #77,281
  • Jul 23, 2008 11:50pm Jul 23, 2008 11:50pm
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 11:54pm Jul 23, 2008 11:54pm
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 24, 2008 12:03am Jul 24, 2008 12:03am
Quoting micho
hello

how many lots?
1 lot per entry
  • #77,284
  • Jul 24, 2008 12:14am Jul 24, 2008 12:14am
Quoting DJ4x
1 lot per entry
cool
When life gives you lemons, make lemonade
  • #77,285
  • Jul 24, 2008 12:18am Jul 24, 2008 12:18am
Quoting DJ4x
1 lot per entry
Same with me.
Waiting for London open.
  • #77,286
  • Jul 24, 2008 12:18am Jul 24, 2008 12:18am
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 24, 2008 12:21am Jul 24, 2008 12:21am
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 24, 2008 12:21am Jul 24, 2008 12:21am
Quoting Wijaya
any opinion where the price might go?
i think to meet his GirlFriend
  • #77,289
  • Jul 24, 2008 12:22am Jul 24, 2008 12:22am
good morning all
  • #77,290
  • Jul 24, 2008 12:24am Jul 24, 2008 12:24am
Quoting warta
good morning all
on behalf of all, good morning wartaaaaaaaaaaaaa
When life gives you lemons, make lemonade
  • #77,291
  • Jul 24, 2008 12:29am Jul 24, 2008 12:29am
Quoting micho
i have a question, im curious to know how many lots you play your trades?
2-5
  • #77,292
  • Jul 24, 2008 12:31am Jul 24, 2008 12:31am
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 24, 2008 12:32am Jul 24, 2008 12:32am
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 24, 2008 12:34am Jul 24, 2008 12:34am
Quoting eohater
5-8
do you put stop loss or keep it hanging?
When life gives you lemons, make lemonade
  • #77,295
  • Jul 24, 2008 12:41am Jul 24, 2008 12:41am
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 24, 2008 12:41am Jul 24, 2008 12:41am
Quoting micho
do you put stop loss or keep it hanging?
morning michooooooooooooo hows u today ?
  • #77,297
  • Jul 24, 2008 12:43am Jul 24, 2008 12:43am
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 24, 2008 12:44am Jul 24, 2008 12:44am
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$??
When life gives you lemons, make lemonade
  • #77,299
  • Jul 24, 2008 12:45am Jul 24, 2008 12:45am
Quoting warta
morning michooooooooooooo hows u today ?
cool got some 600$ yesterday
When life gives you lemons, make lemonade
  • #77,300
  • Jul 24, 2008 12:48am Jul 24, 2008 12:48am
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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