Cable Update (GBPUSD)

Quoting nAVIN2007

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i hope lucky is ok..and placed a stop loss causee this is account blowing moves...even with good mm

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Quoting AmeriTrini

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Those bastards at FXCM don't have a clue what the PHUCK they are talking about, they are the ones that I listened too when they called for a long at 9550/9600. Look what the PHUCK happened then!!!! They don't want you to place one trade and make money off that, they would like you to screw up big and place many trades so that they can make money off the spread!!!! BASTARDS!!!!

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Quoting asyed4

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Agreed big time, no doubt about it. Actually we are not brokers; we are private individuals and they don't want us to be succeeded in our lives. I strongly agree with you and I also don't like their help desk support; they are stupid and don't know what they are talking about...

Actually I also don't listen them at all; today I just reviewed their analysis most of the time they are wrong; I only have two fxcm accounts and I was only using one account and now I am using both because i can use less spread like 10 cents per pip just to do more practice even in live account...
in this way if I losse I wouldn't loose much...

I thing the best thing is MR. Ameritrani is follow the trend and Forex brian strategy is also good I have few accounts with Forex and they are bette than FXCM at least their commentry and Brian's momentum views now he does 24 hours a day from Monday to Friday....

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Quoting AmeriTrini

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Those bastards at FXCM don't have a clue what the PHUCK they are talking about, they are the ones that I listened too when they called for a long at 9550/9600. Look what the PHUCK happened then!!!! They don't want you to place one trade and make money off that, they would like you to screw up big and place many trades so that they can make money off the spread!!!! BASTARDS!!!!

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Quoting AmeriTrini

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Who is Brian?

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Quoting asyed4

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Brian Dolan, Chief Currency Strategist, her at Forex.com, One time I didn't listen and that's how I stuck with my stupid trades that I had to manually close.
On last Sunday night (not this sunday night when cable was @ 1.9750) around 12:30 am or 1:00 am he particularly mentioned in his anlaysis within the research section that there is strong key support around 1.9680 and if that breaks then this pair will go down and I am very stupid enough to do long when the pair is at 1.9715.....

Even in the practice account of forex he does that research but I am not sure in practice account you will be able to view his overnight comments as he recently started for UK session as well...........

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Quoting nAVIN2007

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i hope lucky is ok..and placed a stop loss causee this is account blowing moves...even with good mm

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Quoting Infinity

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Hello Navin,

Money management must work in tandem with risk management.. It is since this big cable move that I realise that a lot of people on this thread don't use stop losses, mental or otherwise. This is not wise. One must use stop loss, even if it is mental. You MUST know how much you are willing to risk on a trade before you enter it....

I currently have a very small long still open @ 9000 but if price goes below 8836, I will close this trade for a loss as I am not willing to risk more than that amount on this single trade.

In order to survive in this market, we have to learn to cut losses early.

Bless

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Quoting Infinity

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Hello Navin,

Money management must work in tandem with risk management.. It is since this big cable move that I realise that a lot of people on this thread don't use stop losses, mental or otherwise. This is not wise. One must use stop loss, even if it is mental. You MUST know how much you are willing to risk on a trade before you enter it....

I currently have a very small long still open @ 9000 but if price goes below 8836, I will close this trade for a loss as I am not willing to risk more than that amount on this single trade.

In order to survive in this market, we have to learn to cut losses early.

Bless

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Quoting asyed4

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I totally agree with you Infinity; in order to even success in this market we have to determine the risk before entering into the market. Now I am keep revising every time when I submit a new trade..... I have been doing trading for the last 1 year but again I made that fundamental mistake didn't determine how much I had to take risk; every day I extend the SL which is not a good practice. I mean I admit that sometimes bigger SL saved me but this dangerous move 600 pips in one week and another week 200-300 pips in two days, if I would follow DJ4X I should close everything on last Friday that would save some money but at that I also didn't determine how much final I had to take the risk.

This is the fundamental discipline and one of the other we especially me avoid applying correctly on the open positions..................

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Quoting nAVIN2007

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the thing with the trading is we actually did the right thing....all of us exited when that major support on monthly broke....when that happened we all exited since we knew there was no chance..that was good trading, exit when theres no chance......if we held then id say theres a problem...we gave it everychance to succeed but it wasnt meant to be

if exited early and it hit monthly support 50% fibo and bounced that would have killed us to...

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Quoting AmeriTrini

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Who is Brian?

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Quoting JgrB

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Maybe the one from "Life of Brian"???

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