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Cable Update (GBPUSD)

  • #82,541
  • Aug 15, 2008 11:33am Aug 15, 2008 11:33am
im short @ 1,8654
Keep It Simple Stupid
  • #82,542
  • Aug 15, 2008 12:01pm Aug 15, 2008 12:01pm
Quoting scyang
God commanded that man should eat by the sweat of his face. This started from Adam and won't finish until the end of time. Sitting at your desk and try and get some sense of what one believes is God is not what He is after. He didn't go through incarnation, human living, death, resurrection and ascension, so He can help you and me make money and get rich. God never fails in His promises that He will provide for what we need, no more, no less. Please refer to my earlier response.
I responded to your earlier post already.

You said you don't think God has anything to do with FOREX
why don't you leave it at that?

Why worry about what I think or use to trade.
All I know is that if I obey His Commands I do well in my business called FOREX trading like today!

154pips + 71 pips + 79pips + 92pips
Because He said we should apply His wisdom. May be the way I view and apply my Living God is different from the way you do.
  • #82,543
  • Aug 15, 2008 12:02pm Aug 15, 2008 12:02pm
looks like USD is fighting back and the GBP downtrend continues!
  • #82,544
  • Aug 15, 2008 12:08pm Aug 15, 2008 12:08pm
No chance of me lusting after my neighbors ox - she has just gone to Safeway in her luminous lycra pants - jeez it's put me off my porridge

I think the longs are capitulating and thats the end of the up spikes for a while
  • #82,545
  • Aug 15, 2008 12:09pm Aug 15, 2008 12:09pm
Quoting allserene
No chance of me lusting after my neighbors ox - she has just gone to Safeway in her luminous lycra pants - jeez it's put me off my porridge

I think the longs are capitulating and thats the end of the up spikes for a while

funny. you know you want some!!
  • #82,546
  • Aug 15, 2008 12:16pm Aug 15, 2008 12:16pm
any suggestions on a resistance level from here?
Keep It Simple Stupid
  • #82,547
  • Aug 15, 2008 12:26pm Aug 15, 2008 12:26pm
Quoting allserene
No chance of me lusting after my neighbors ox - she has just gone to Safeway in her luminous lycra pants - jeez it's put me off my porridge

I think the longs are capitulating and thats the end of the up spikes for a while
It is not a spike, the up movement is been gradually established for GBP/USD.
You won't see it yet until it is fully established by then it might be too late.

The Spirit of my God has long told me to close out otherwise i will be guilty of GREED!

CHEERS allserene, don't give up on God.

Happy weekend to all of you whether you believe me or not, or whether you believe God or not.

Don't take offense about my posting, this is just a forum to exchange alternate methods of taming FOREX.

Orthodox statistical methods has blind folded people for too
long, if you are looking to be profitable try and seek for alternate method don't be hooked to losing worldly methods. That is satanic to keep making same mistakes all the time.
  • #82,548
  • Aug 15, 2008 12:41pm Aug 15, 2008 12:41pm
Trading plan GBP/USD before close....
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Twitter: Forexlivetrade - Buy: AFFI.CPH ISIN: DK0015966592 - target 12 DKK
  • #82,549
  • Aug 15, 2008 12:45pm Aug 15, 2008 12:45pm
Quoting nAVIN2007
well bro after the loss i had ..i havent entered market at all ....just been going work bro and earning my money back that way...just sitting on the side lines, and puching myself if the word long come into my head...

howz u brother?

Navin do not stop trading. Even with a demo account so you will not rust youself and you will follow the market wave. It is just a sugestion Nav.
  • #82,550
  • Aug 15, 2008 12:49pm Aug 15, 2008 12:49pm
Quoting nAVIN2007
well bro after the loss i had ..i havent entered market at all ....just been going work bro and earning my money back that way...just sitting on the side lines, and puching myself if the word long come into my head...

howz u brother?
I hear that!! I haven't traded either.........just watching, this is nuts!!

  • #82,551
  • Aug 15, 2008 12:53pm Aug 15, 2008 12:53pm
Quoting asyed4
GENTLEMEN:

After 6 nights of fighting and 2 nights of my foolishness based on this stupid UK situation for GBP/USD pair, I total lost $8K in my Standard Account and I lost 5K in my mini Accounts. I went away from Currency Market since Wednesday night.

I am back to my Demo Account and my mini Accounts. I currently have $0 in my Standard Account and transfered whatever money just to eliminate my emotions not to transfer money to standard to do trade in standard account.

I think I am not going to touch my standard account until GBP settled down and catch the proper range and I think it will take at least 6 months for GBP to settle down I think.....

I think everything is fair in love and war and I think Forex trading is basically a war between a person's money and the market up and down..... I didn't take it personally but I will not take any big risk from now on as I can't afford more than mini accounts for the rest of this year.

brother im very sorry to hear u lost so much...i hope in some way to gain something from this experience money cannot buy..we all must have have learnt so much from this experience...cable lossing it marbles and keeping us guessing all times
  • #82,552
  • Aug 15, 2008 12:55pm Aug 15, 2008 12:55pm
Quoting AmeriTrini
I hear that!! I haven't traded either.........just watching, this is nuts!!

it really is isnt it..
  • #82,553
  • Aug 15, 2008 12:57pm Aug 15, 2008 12:57pm
Quoting oscarfrx
Navin do not stop trading. Even with a demo account so you will not rust youself and you will follow the market wave. It is just a sugestion Nav.
i havent stoped trading...just not doing it live as i have to work and i cant place pending oreder in a market which is as nuts as this
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  • #82,554
  • Aug 15, 2008 1:00pm Aug 15, 2008 1:00pm
Quoting nAVIN2007
brother im very sorry to hear u lost so much...i hope in some way to gain something from this experience money cannot buy..we all must have have learnt so much from this experience...cable lossing it marbles and keeping us guessing all times
Yes I am sorry for asyed2 also

You can't be really aware of the dangers of static electricity until you have been jolted badly

that 14k loss or whatever, was tuition fees - use that experience or it will be wasted money

I lost the same amount once and I went red hot right down to my toes - I was so ashamed and I never did it again
  • #82,555
  • Aug 15, 2008 1:04pm Aug 15, 2008 1:04pm
a loss like that will kill me...

i learned one lesson no matter how good u think u are...u have to play this game safe, greed can never take over...when ever i keep it safe i win. when i get greedy i lose big time..
  • #82,556
  • Aug 15, 2008 1:28pm Aug 15, 2008 1:28pm
Up up up up 1,8650
  • #82,557
  • Aug 15, 2008 1:36pm Aug 15, 2008 1:36pm
Quoting Optimum
Up up up up 1,8650
Trade on what you see not on what you want to see
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  • #82,558
  • Aug 15, 2008 1:38pm Aug 15, 2008 1:38pm
Quoting nAVIN2007
a loss like that will kill me...

i learned one lesson no matter how good u think u are...u have to play this game safe, greed can never take over...when ever i keep it safe i win. when i get greedy i lose big time..
AMEN! Greed kills!
Just digging in the trenches like everyone else!
  • #82,559
  • Aug 15, 2008 1:47pm Aug 15, 2008 1:47pm
Quoting Patience
Well this might give you a little laugh. I just closed a short trade that I had opened in November 2006 at 1.9151 at 1.9150 on Friday. I've also got a couple in the 1.86 area as well and I'm kind of hoping that we'll be heading in that direction for at least the next three full weeks of trading in August if not for the rest of the year.

I'm by no means a technical trader but I guess I'm sort of relying on the fact that Cable's average yearly range is around 2000 odd pips and since the high has been around 2.04 and it has broken the bottom of the yearly range then I'm assuming that it could go to the 1.84 - 1.85 area. If it doesn't, oh well, I guess I'll just be waiting a little longer! Doesn't stop me trading in the meantime though and trading is way more exciting than gambling IMHO. Just make sure your account can handle the drawdowns - he, he ....

Good trades to all
Oh, my, all it took was a mere three days to hit my other trades. If only I had left the trade at 1.9151 open but I was also expecting a correction and hoping to get in higher up to sell.

We live and learn to trade another day ....
Nothing worth having is easy.
  • #82,560
  • Aug 15, 2008 1:48pm Aug 15, 2008 1:48pm
Quoting asyed4
GENTLEMEN:

After 6 nights of fighting and 2 nights of my foolishness based on this stupid UK situation for GBP/USD pair, I total lost $8K in my Standard Account and I lost 5K in my mini Accounts. I went away from Currency Market since Wednesday night.

I am back to my Demo Account and my mini Accounts. I currently have $0 in my Standard Account and transfered whatever money just to eliminate my emotions not to transfer money to standard to do trade in standard account.

I think I am not going to touch my standard account until GBP settled down and catch the proper range and I think it will take at least 6 months for GBP to settle down I think.....

I think everything is fair in love and war and I think Forex trading is basically a war between a person's money and the market up and down..... I didn't take it personally but I will not take any big risk from now on as I can't afford more than mini accounts for the rest of this year.
Sorry to hear that but then again, I can relate myself with your situation. I also lost big at the beginning. When I look back, I can clearly see my mistakes which I will never do this time.
I wasn't following the trend and never used stop loss.
Remember, when NZD went from .6900 to .80, I was holding my short NZD position from .74 until it got liquidated by Margin call. All I was thinking it will come down and never though that it can hit .80.
Same happening this time, GBP fell from 1.201 to 1.86 in few weeks but I am cautious then before so I survived this volatility.
It's all learning experience.
Be strong, Analyse your mistake and move on as a better trader. Don't give up.
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