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Cable Update (GBPUSD)

  • #80,841
  • Aug 7, 2008 11:26pm Aug 7, 2008 11:26pm
I was watching the us/yen range on the 1hr. It was moving across to the ascending trendline. It had enough room for a couple more moves. Got some coffee and off she went with everything else.
  • #80,842
  • Aug 7, 2008 11:28pm Aug 7, 2008 11:28pm
looosing pips is a part from this game we have to accept it aswell , but the important thing is to learn how to looose less not how to never loose
  • #80,843
  • Aug 7, 2008 11:29pm Aug 7, 2008 11:29pm
Quoting warta
hey guys we have to accept the red pips with a large smile as we do with green pips
i refuse to go down.....its not logical to accept defeat here..u never know if it retraces back above 1.9388 and london session build on it then..we really have the bottom weekly thn next week be bullish as a bounce likely

otherwise 1.9163 we going towards...need to be strong
  • #80,844
  • Aug 7, 2008 11:29pm Aug 7, 2008 11:29pm
Something to look forward too:
Attached Image (click to enlarge)
Click to Enlarge Name: chart.JPG Size: 148 KB
  • #80,845
  • Aug 7, 2008 11:32pm Aug 7, 2008 11:32pm
Quoting nAVIN2007
i refuse to go down.....its not logical to accept defeat here..u never know if it retraces back above 1.9388 and london session build on it then..we really have the bottom weekly thn next week be bullish as a bounce likely

otherwise 1.9163 we going towards...need to be strong
I am not closing out my loss, I refuse too!!!! I can absorb a move to 1.9100 as well, so come on cable, lets see what you have!!!!
  • #80,846
  • Aug 7, 2008 11:33pm Aug 7, 2008 11:33pm
Quoting nAVIN2007
i refuse to go down.....its not logical to accept defeat here..u never know if it retraces back above 1.9388 and london session build on it then..we really have the bottom weekly thn next week be bullish as a bounce likely

otherwise 1.9163 we going towards...need to be strong

am not with u in this coz no one can control the market but we can control our emotion , if u think about it , every day we have minimum 100 of pips move up or down so if u accept ur red today and cut ur lost u can make them back next day but lets say the down trend never stop what will be ur situation with ur old long position?
  • #80,847
  • Aug 7, 2008 11:34pm Aug 7, 2008 11:34pm
Quoting AmeriTrini
I am not closing out my loss, I refuse too!!!! I can absorb a move to 1.9100 as well, so come on cable, lets see what you have!!!!

thats the spirit bro...!!!! fight to the end
  • #80,848
  • Aug 7, 2008 11:34pm Aug 7, 2008 11:34pm
Quoting nAVIN2007
i refuse to go down.....its not logical to accept defeat here..u never know if it retraces back above 1.9388 and london session build on it then..we really have the bottom weekly thn next week be bullish as a bounce likely

otherwise 1.9163 we going towards...need to be strong
I hear you but pls be careful with that type of thinking...I too think this is irrational and I'm a short...but something bigger is going on here and I'm not sure why the London session would reverse this downtrend just yet.

I mean it is not common for the Asian markets to move the rest of the mkt like this, so is this something bigger?!?!?
  • #80,849
  • Aug 7, 2008 11:34pm Aug 7, 2008 11:34pm
WTF...... Just woke up. Rather going back to sleep.
I'm fucked.
Have to cut my first entry now.
  • #80,850
  • Aug 7, 2008 11:34pm Aug 7, 2008 11:34pm
if this month (august) turn out like months before where graveyard formed (doji), then we'll see at least 9841 at the end of this month ...

well, this is forex ... anything is possible ...
one day at the top, next day at the bottom ...
  • #80,851
  • Aug 7, 2008 11:35pm Aug 7, 2008 11:35pm
Quoting nAVIN2007
thats the spirit bro...!!!! fight to the end
I can absorb another 500 pips down, and we know that's not going to happen!!!
  • #80,852
  • Aug 7, 2008 11:36pm Aug 7, 2008 11:36pm
Quoting warta
am not with u in this coz no one can control the market but we can control our emotion , if u think about it , every day we have minimum 100 of pips move up or down so if u accept ur red today and cut ur lost u can make them back next day but lets say the down trend never stop what will be ur situation with ur old long position?
in trading u have to cut losses if u know your in a losing position...just based on a correction this trade is worth holding...only exit your trades if u know its doomed, its just not logical ......if it passes my absolute low i will exit...cable has meet all it short targets.....if i exit my trades, not like id short here...so for me no point..
  • #80,853
  • Aug 7, 2008 11:37pm Aug 7, 2008 11:37pm
Quoting nAVIN2007
thats the spirit bro...!!!! fight to the end

loool fight till closing ur account and then start cryin like a baby .. its not logic bro
money managment is the most important thing
think about it
  • #80,854
  • Aug 7, 2008 11:39pm Aug 7, 2008 11:39pm
Quoting nAVIN2007
in trading u have to cut losses if u know your in a losing position...just based on a correction this trade is worth holding...only exit your trades if u know its doomed

man u think we r not in a losing trade now as we r long and in green for a 100 of pips ? for me if this price break the R 3 i will close and sit aside and what i lost today i can make it next week 4 sure
  • #80,855
  • Aug 7, 2008 11:41pm Aug 7, 2008 11:41pm
Quoting Pennypacker
I hear you but pls be careful with that type of thinking...I too think this is irrational and I'm a short...but something bigger is going on here and I'm not sure why the London session would reverse this downtrend just yet.

I mean it is not common for the Asian markets to move the rest of the mkt like this, so is this something bigger?!?!?
my account balance is £2,460 and loss so far is £213...i can absorb this move till i know what the hell is happening....but i hear u...thx bro
  • #80,856
  • Aug 7, 2008 11:43pm Aug 7, 2008 11:43pm
this is whats happening
Attached Image
When life gives you lemons, make lemonade
  • #80,857
  • Aug 7, 2008 11:44pm Aug 7, 2008 11:44pm
I was lucky, I closed my position from yesterday and was going to figure a place to jump in at the time I was watching the yen.
  • #80,858
  • Aug 7, 2008 11:45pm Aug 7, 2008 11:45pm
Quoting micho
this is whats happening
  • #80,859
  • Aug 7, 2008 11:46pm Aug 7, 2008 11:46pm
When life gives you lemons, make lemonade
  • #80,860
  • Aug 7, 2008 11:48pm Aug 7, 2008 11:48pm
Quoting warta
man u think we r not in a losing trade now as we r long and in green for a 100 of pips ? for me if this price break the R 3 i will close and sit aside and what i lost today i can make it next week 4 sure

i know your concerned for me bro....i will exit the minute i realise this trade is doomed but im not convienced and i know 1.9600 i should see at least and i can exit....im a position trader and actually getting used to this shit ..

thx for the concern bro
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