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Cable Update (GBPUSD)

  • #80,901
  • Aug 8, 2008 1:37am Aug 8, 2008 1:37am
Quoting digitalspree
Hi Guys i have been reading the thread for a while now. I am in a long position from quite a while ago and has nearly hit my s/l now. Would it be best to close this position or move the stoploss further. Note: account nearly blown.

Im a newbie, now i know always manage risks, which i clearly did not in this trade.
stop trading right now. go back to demo and keep reading basic TA books. Dont swap systems/methods. When you can be profitable for at least 3-6 months only then reconsider going back to trade your live account. burning account its like a phase all traders has to get by before even succeeding to trade on B/E if you know what i mean.

cheers
  • #80,902
  • Aug 8, 2008 1:40am Aug 8, 2008 1:40am
Quoting belekas
stop trading right now. go back to demo and keep reading basic TA books. Dont swap systems/methods. When you can be profitable for at least 3-6 months only then reconsider going back to trade your live account. burning account its like a phase all traders has to get by before even succeeding to trade on B/E if you know what i mean.

cheers
that is good advise....u have to give yourself everychance....
the resistance appears to be holding....
  • #80,903
  • Aug 8, 2008 1:41am Aug 8, 2008 1:41am
Hi guys,

just want to say that you all have been a great source of knowledge for GBP/USD because i'm a new one in this area (meening forex).

Can't believe GBP felt like this! Holding long from 1.5.... uf


Greetings from Croatia
  • #80,904
  • Aug 8, 2008 1:43am Aug 8, 2008 1:43am
Thanks for the advise guys, I am going to hold for a little while
  • #80,905
  • Aug 8, 2008 1:43am Aug 8, 2008 1:43am
Quoting salah k.
hey man im good hows ur trading

heheh stick in a long position with a 1/2 micro lot loool nevermind i will be out at the end of the retrace hope so
  • #80,906
  • Aug 8, 2008 1:47am Aug 8, 2008 1:47am
Quoting digitalspree
Hi Guys i have been reading the thread for a while now. I am in a long position from quite a while ago and has nearly hit my s/l now. Would it be best to close this position or move the stoploss further. Note: account nearly blown.

Im a newbie, now i know always manage risks, which i clearly did not in this trade.
how big is your account and what position did u enter? and wht lot size?...i didnt read the bit where u say yur account is almost blown...this is very bad
  • #80,907
  • Aug 8, 2008 1:48am Aug 8, 2008 1:48am
yes i am agree, i think it 'll still godown, we should wait for the monday.
  • #80,908
  • Aug 8, 2008 1:52am Aug 8, 2008 1:52am
Quoting nAVIN2007
how big is your account and what position did u enter? and wht lot size?...i didnt read the bit where u say yur account is almost blown...this is very bad

10 Mini Contracts long at 1.9571
2 at 1.9508
2 at 1.9532

I can add more funds but don't know how risky that would be. Kind of panicing!
  • #80,909
  • Aug 8, 2008 2:03am Aug 8, 2008 2:03am
Quoting digitalspree
10 Mini Contracts long at 1.9571
2 at 1.9508
2 at 1.9532

I can add more funds but don't know how risky that would be. Kind of panicing!

u need to go back to books bro....anything under 1.9600 is downtrend u should have sold below i.9600..people like me who think there to smart might have entered lower expecting a retracement.go up then short...

i dunno what to say bro ...yur in a very tight position.....what equity u have left?

it looks like this is going a lot lower..
  • #80,910
  • Aug 8, 2008 2:08am Aug 8, 2008 2:08am
Quoting nAVIN2007
u need to go back to books bro....anything under 1.9600 is downtrend u should have sold below i.9600..people like me who think there to smart might have entered lower expecting a retracement.go up then short...

i dunno what to say bro ...yur in a very tight position.....what equity u have left?

it looks like this is going a lot lower..

i can add another 1k to my account. I think its best to close...
  • #80,911
  • Aug 8, 2008 2:12am Aug 8, 2008 2:12am
Quoting digitalspree
i can add another 1k to my account. I think its best to close...
your decision bro....i dunno what happening either.....sinking like UK declared themselves bankrupt or something
  • #80,912
  • Aug 8, 2008 2:17am Aug 8, 2008 2:17am
Market for cable has reached the edge of yearly chaos.

A break and close below this point today means flip over
and butterfly effect as this may hurt and ruin many accounts
still holding long.

This is also best time to take a long-term position either sell or buy
with small capital.

Any person still long position at this point must be of a strong heart
and risk taker. Such trade is not based on Godly wisdom, or even technicality as it can flip to either side.

For chaos traders this should be happy moments to trade!!!!!!!!!!!
  • #80,913
  • Aug 8, 2008 2:20am Aug 8, 2008 2:20am
Quoting fxbroker
Market for cable has reached the edge of yearly chaos.

A break and close below this point today means flip over
and butterfly effect as this may hurt and ruin many accounts
still holding long.

This is also best time to take a long-term position either sell or buy
with small capital.

Any person still long position at this point must be of a strong heart
and risk taker. Such trade is not based on Godly wisdom, or even technicality as it can flip to either side.

For chaos traders this should be happy moments to trade!!!!!!!!!!!
i agree....this week was there to break people in half..yur decision making process had to be spot on sell...even catching a retrace would have destroyed u..chaos in every sense of the word.
  • #80,914
  • Aug 8, 2008 2:21am Aug 8, 2008 2:21am
Quoting nAVIN2007
haaaaaaaa it moving up now .....fakeout people ....just kidding, to early to tell

salah hows u going bro....? hope u keeping well brother
good man how are u?
long time no speak
u holdin any positions?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #80,915
  • Aug 8, 2008 2:24am Aug 8, 2008 2:24am
you should close ur trades and wait for the monday, i also closed my positions now my account is fresh and waiting for monday opening.
  • #80,916
  • Aug 8, 2008 2:25am Aug 8, 2008 2:25am
"F*ck your support" said the Cable
They should have never gave you traders money.
Don't Get Bitter, Get Better
  • #80,917
  • Aug 8, 2008 2:26am Aug 8, 2008 2:26am
Quoting salah k.
good man how are u?
long time no speak
u holdin any positions?
i think i jinxed it ...i went in on 0.3 lot and everytime i do this is get it!...seems my timing is just fantastic to lose money....unbelieveable..what the hell is happeing here
  • #80,918
  • Aug 8, 2008 2:30am Aug 8, 2008 2:30am
Quoting NuB
"F*ck your support" said the Cable
They should have never gave you traders money.
honestly bro what the hell is happening?????
  • #80,919
  • Aug 8, 2008 2:32am Aug 8, 2008 2:32am
Quoting nAVIN2007
honestly bro what the hell is happening?????

this support is so gay damn

this is the 1st time i see a support need a support
  • #80,920
  • Aug 8, 2008 2:34am Aug 8, 2008 2:34am
Quoting warta
this support is so gay damn

this is the 1st time i see a support need a support

blew right through it!!!!!!
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