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Cable Update (GBPUSD)

  • #83,161
  • Aug 20, 2008 4:57am Aug 20, 2008 4:57am
Quoting bbmac

We all go through periods like the one you describe, Try and stick in there, keep watching, keep learning, keep reading, keep observing live market price behaviour and develop your own trading edge.
100% agree. still waiting CBI news
any comment about the news??
  • #83,162
  • Aug 20, 2008 5:00am Aug 20, 2008 5:00am
Quoting LetsTrade
I want to develop a program so that I can trade automatically. What program do I need to learn? I have read that API can do the trick.

Can anyone point me in the right direction?
hey man, very interesting point. i use one automatic program.

i use mt4, they have a language very similar to c and its simple so try to read and write some programs there, they have a nice help file.

When life gives you lemons, make lemonade
  • #83,163
  • Aug 20, 2008 5:01am Aug 20, 2008 5:01am
momentary support at the area of previous lows 8588 thru 8570/75, area of dly s1 pivot and 76.4% of rise from 8536-8684 area....cable now finding support after that break at the 1hr asc support t/line mentioned above.

No real resumption of the downtrend on this 1hr t/f until that 8536 low breaks....mni suggesting bids reside there.

Uk data being released as i type this....could see a break of this t/line
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ex member
  • #83,164
  • Aug 20, 2008 5:01am Aug 20, 2008 5:01am
Quoting nAVIN2007
still good performance
but i lost 3k by chance!!! thats what i hate, i didn't follow the system u know??
When life gives you lemons, make lemonade
  • #83,165
  • Aug 20, 2008 5:04am Aug 20, 2008 5:04am
Quoting DJ4x
Welll... that not so bad. Very positive in fact.
Keep up the good work
I work using minimum leverage. 30% gain in 4 months and almost most of it loss in one week. crap huh?
well how did you lose all of them in 1 week?
When life gives you lemons, make lemonade
  • #83,166
  • Aug 20, 2008 5:07am Aug 20, 2008 5:07am
Quoting micho
hey man, very interesting point. i use one automatic program.

i use mt4, they have a language very similar to c and its simple so try to read and write some programs there, they have a nice help file.

Thanks very much for the feedback. I will check it out.
  • #83,167
  • Aug 20, 2008 5:07am Aug 20, 2008 5:07am
Quoting micho
but i lost 3k by chance!!! thats what i hate, i didn't follow the system u know??
i started with 3k it came down to 2k....then bbmac started to help me and others i gained £460 back then 2 week come and lost £505...totally got my ass whooped....now i resting at £1,940

but it taught me the reason behind SL.i just got carried away with the damn range....and all when i thought i was finnaly get profitable almost..

oh well main thing is learn from it ...
  • #83,168
  • Aug 20, 2008 5:11am Aug 20, 2008 5:11am
Quoting micho
well how did you lose all of them in 1 week?
by following my system and not entirely trusting my instinct . Did not lose all, but a big chunk
  • #83,169
  • Aug 20, 2008 5:22am Aug 20, 2008 5:22am
Im long 1,8562
  • #83,170
  • Aug 20, 2008 5:23am Aug 20, 2008 5:23am
this pair shot up ard this time 24 hours ago ... i am long @ 1.8569
  • #83,171
  • Aug 20, 2008 5:27am Aug 20, 2008 5:27am
Quoting trading801
this pair shot up ard this time 24 hours ago ... i am long @ 1.8569
In a strict sense there isn't any risk - if the world will behave in the future as it did in the past. Merton Miller


Lets hope
  • #83,172
  • Aug 20, 2008 5:27am Aug 20, 2008 5:27am
Good shorts now around 80 for a break of the lows at 40. Stops above 1.8600.
  • #83,173
  • Aug 20, 2008 5:28am Aug 20, 2008 5:28am
also scalping long 1,8569
Keep It Simple Stupid
  • #83,174
  • Aug 20, 2008 5:28am Aug 20, 2008 5:28am
smart 30+ pip bounce from top of those 8540/30 bids mentioned earleir , area of yesterday's low, mni now touting '...offers building,' at and around the 38.2% of the fall from intraday hi-lo which would come in at 8595, as the first upside hurdle on any sustained recovery. Bids remain in place at 8540/30 and 8512/00, stops likely to be triggered on an break of this latter area.
ex member
  • #83,175
  • Aug 20, 2008 5:31am Aug 20, 2008 5:31am
Quoting bbmac
smart 30+ pip bounce from top of those 8540/30 bids mentioned earleir , area of yesterday's low, mni now touting '...offers building,' at and around the 38.2% of the fall from intraday hi-lo which would come in at 8595, as the first upside hurdle on any sustained recovery. Bids remain in place at 8540/30 and 8512/00, stops likely to be triggered on an break of this latter area.
sorry bro .. in layman terms?
  • #83,176
  • Aug 20, 2008 5:33am Aug 20, 2008 5:33am
Quoting nAVIN2007
i started with 3k it came down to 2k....then bbmac started to help me and others i gained £460 back then 2 week come and lost £505...totally got my ass whooped....now i resting at £1,940

but it taught me the reason behind SL.i just got carried away with the damn range....and all when i thought i was finnaly get profitable almost..

oh well main thing is learn from it ...
Quoting DJ4x
by following my system and not entirely trusting my instinct . Did not lose all, but a big chunk
i dont think its good to trade in a system without running a back test on the previous years and see what drawdown u get and stuff. i am not just saying that to annoy u but i will be so worried to trade without knowing the max drawdown from last years and the problem is, most manual trading is based on complex indicators and stuff thats hard to code in a program to do the back test

you know what guys, i promised myself not to trade manually anymore. i know its hard to resist but seems like everytime i touch it with my hand i lose money. besides, i made redundancy on everything. i work on 2 pcs, i leave one running at work with a stable connection, and i have the other one at home backup. i have 2 sources for power supply and also 2 connections at home lol

so i dont wanna repeat what happened last 2 weeks cause its really very bad luck
When life gives you lemons, make lemonade
  • #83,177
  • Aug 20, 2008 5:40am Aug 20, 2008 5:40am
Quoting nAVIN2007
i started with 3k it came down to 2k....then bbmac started to help me and others i gained £460 back then 2 week come and lost £505...totally got my ass whooped....now i resting at £1,940

but it taught me the reason behind SL.i just got carried away with the damn range....and all when i thought i was finnaly get profitable almost..

oh well main thing is learn from it ...
I started Trading with £500.00 18 months ago. Trading in December with a balance of £4997.00 LOST £4901.00 in 2 trades early Jan. Been back this last week, slowly, slowly. 10 pips here, 20 pips there!
  • #83,178
  • Aug 20, 2008 5:52am Aug 20, 2008 5:52am
fell asleep last nite and missed the action I was waitting for
  • #83,179
  • Aug 20, 2008 5:53am Aug 20, 2008 5:53am
Good morning micho.
Do you see us going down from here.
im looking for a short entry point.
Keep It Simple Stupid
  • #83,180
  • Aug 20, 2008 5:58am Aug 20, 2008 5:58am
Quoting Alastair
Good morning micho.
Do you see us going down from here.
im looking for a short entry point.
hi man, i really dont know cause i am not trading cable this week.
maybe we will range again from 1.85 to 1.87 but better buy from the bottom and sell from the top of the channel lines with tight stops
When life gives you lemons, make lemonade
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