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Cable Update (GBPUSD)

  • #83,521
  • Aug 21, 2008 4:49pm Aug 21, 2008 4:49pm
Quoting nAVIN2007
good i think thats the bottom...tested 3 times and produced 3 piercing patterns..we going up now i think...oil is back....and candle are not working...that my cue to stay the hell out!!!
staayy outtt!..

that's why i'm comfortable to see you here.. eventhough you are stay out.. but at least you are honest..

not like the "great trade position" posted by somebody out there.. looks like winning, but who knows?
  • #83,522
  • Aug 21, 2008 5:14pm Aug 21, 2008 5:14pm
well..maybe tomorow will be bullish.
but i'm short now at 1.8774, hope for retrace.
TP set to little above 50 sma, SL 3pips above today high.
entry when last candle open

i see hidden bearish divergence
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  • #83,523
  • Aug 21, 2008 5:40pm Aug 21, 2008 5:40pm
Quoting yank
well..maybe tomorow will be bullish.
but i'm short now at 1.8774, hope for retrace.
TP set to little above 50 sma, SL 3pips above today high.
entry when last candle open

i see hidden bearish divergence
price stopped at the 4h 50ema and is currently ob.... retracement is due. I am not shorting though as I am looking to buy a dip. If the gdp figure coming up is in line or better than forecast, this thing could fly..

I think we should see at least 8720 though....
Patience + Discipline - Greed = Success
  • #83,524
  • Aug 21, 2008 5:52pm Aug 21, 2008 5:52pm
Anyone wants to know the difference between gambling and trading:


Quoting yank
well..maybe tomorow will be bullish.
but i'm short now at 1.8774, hope for retrace.
TP set to little above 50 sma, SL 3pips above today high.
entry when last candle open

i see hidden bearish divergence

This is gambling...............and..............





Quoting Infinity
price stopped at the 4h 50ema and is currently ob.... retracement is due. I am not shorting though as I am looking to buy a dip. If the gdp figure coming up is in line or better than forecast, this thing could fly..

I think we should see at least 8720 though....

.........This is TRADING!!!

have a nice day............

p.s. Infinity, I know you meant 8820.
  • #83,525
  • Aug 21, 2008 5:53pm Aug 21, 2008 5:53pm
Quoting yank
well..maybe tomorow will be bullish.
but i'm short now at 1.8774, hope for retrace.
TP set to little above 50 sma, SL 3pips above today high.
entry when last candle open

i see hidden bearish divergence
moved SL to +10
  • #83,526
  • Aug 21, 2008 5:54pm Aug 21, 2008 5:54pm
Quoting gagakrimba
what goes down will go up...... it cant be going down continously )
George Bush's reputation went down and it ain't going up - he will have to go live in georgia where they will make him king and put him in charge of the new McDonalds in Tiblisi
http://findarticles.com/p/articles/m...20/ai_64423326
  • #83,527
  • Aug 21, 2008 6:02pm Aug 21, 2008 6:02pm
Quoting poweredbuyer
Agreed to some extent dude. Like I said bro this is for fun. I hedge on news releases and once direction is confirmed usually grab 15-30 pips.

I'm not offering any signals or calls no interest in that stuff ... Just messing around. Last time Im posting here cause im sending emails and posting it on my blog to those who expressed interest in my adventure. (I have 10-15 more people who want links etc I will send you after this post)

Starting Balance: $220.00
Current Balance: $1034.00
Trades: 15
Win: 11
Losses: 4
Duration: 6 days

Time for full lots :-) ...Tommorow I could have $0.00 or perhaps 3K ... lets see :-)

BTW: if I do hit 3K im donating 2K to a local cancer charity here in Toronto (my mother was recently diagnosed) plus I get a tax receipt :-)

All the best ya'll ...

**REMINDER**
Once I get to the $1000 mark I will be trading full lots. Once again this is pure gambling (although I am using TA and watchin the news etc) but because its EXTREMELY high risk I could get wiped out with 1 bad trade. This is just to feed my gambling needs lol ... haven't been to vegas in a while maybe its the withdrawls lol ...
If I hit my target of $3K I will stop.
**REMINDER **
All the best to you.
Sorry to hear about your mother.
  • #83,528
  • Aug 21, 2008 6:03pm Aug 21, 2008 6:03pm
Quoting AmeriTrini
Anyone wants to know the difference between gambling and trading:
I'm not gambling..i have explain if today is possible bullish.
i short while waiting for buy on dip.
if there is a chance, why not take it ???
i trade what i see
  • #83,529
  • Aug 21, 2008 6:10pm Aug 21, 2008 6:10pm
Quoting yank
I'm not gambling..i have explain if today is possible bullish.
i short while waiting for buy on dip.
if there is a chance, why not take it ???
i trade what i see

what if there is no dip? what if it just breaks out and goes up?, you might say, thats no problem I have a stoploss, but, if you didnt sell waiting for a dip, then you wouldn't have lost. In uptends, only buy on dips and in downtrends, only sell on tops, this my friend will save you tremendous headaches.

  • #83,530
  • Aug 21, 2008 6:15pm Aug 21, 2008 6:15pm
The only difference between gambling and trading:
Gambling the House has the odds in there favor,
Trading is a zero sum game, there is always a looser
on the other end of the trade.
Be it you or someone else.
  • #83,531
  • Aug 21, 2008 6:16pm Aug 21, 2008 6:16pm
Quoting yank
I'm not gambling..i have explain if today is possible bullish.
i short while waiting for buy on dip.
if there is a chance, why not take it ???
i trade what i see
Hahahahaha.....just do your thing bro.
dont mind those comments.
  • #83,532
  • Aug 21, 2008 6:24pm Aug 21, 2008 6:24pm
Quoting yank
I'm not gambling..i have explain if today is possible bullish.
i short while waiting for buy on dip.
if there is a chance, why not take it ???
i trade what i see
Patience + Discipline - Greed = Success

you could learn alot from the above equation, because anything that involves Greed, involves gambling. When you sell in a uptrend, it is Greed taking over. I am not trying to get on your case but just the opposite, make your case STRONGER!! all the best bro!!!

  • #83,533
  • Aug 21, 2008 6:32pm Aug 21, 2008 6:32pm
Quoting AmeriTrini
Patience + Discipline - Greed = Success

you could learn alot from the above equation, because anything that involves Greed, involves gambling. When you sell in a uptrend, it is Greed taking over. I am not trying to get on your case but just the opposite, make your case STRONGER!! all the best bro!!!

Leave him be....one of these days his greed will chew him up. Hahahahahaha
  • #83,534
  • Aug 21, 2008 6:37pm Aug 21, 2008 6:37pm
im a newb... demo'd for about 8 months and did well... been live for 4 weeks... moved my 3000 start to 8100 before the happened and now im holding 3 open positions totaling a -3000 balance. Stupid oil but i hope for a little bit more of a swing for me in the right direction and then take my loss. I Dont really know what else to do haha
Lets do this...
  • #83,535
  • Aug 21, 2008 6:50pm Aug 21, 2008 6:50pm
Today trend still bullish.
I will buy again later maybe somewhere at 1.8680 area

At the moment im short
  • #83,536
  • Aug 21, 2008 6:57pm Aug 21, 2008 6:57pm
Quoting AmeriTrini
Anyone wants to know the difference between gambling and trading:

This is gambling...............and..............

.........This is TRADING!!!

have a nice day............
Hehe . . . nice post. That's something lots of us could use a reminder about now and then . . .

  • #83,537
  • Aug 21, 2008 8:24pm Aug 21, 2008 8:24pm
Quoting jcminvest
im a newb... demo'd for about 8 months and did well... been live for 4 weeks... moved my 3000 start to 8100 before the happened and now im holding 3 open positions totaling a -3000 balance. Stupid oil but i hope for a little bit more of a swing for me in the right direction and then take my loss. I Dont really know what else to do haha

I would say don't marry a position but sometimes they just look soooo pretty, till of coarse, they take all of your money.

Most profitable traders will tell you they blew up 2 or more accounts before they considered this a stream of income. Anyone that's been trading currency for 3+ years has been in your position. Don't sweat it, if it goes good for you on this one, learn from it. If it goes bad, learn more.
USD Est Non Mortuus
  • #83,538
  • Aug 21, 2008 8:32pm Aug 21, 2008 8:32pm
Quoting jcminvest
im a newb... demo'd for about 8 months and did well... been live for 4 weeks... moved my 3000 start to 8100 before the happened and now im holding 3 open positions totaling a -3000 balance. Stupid oil but i hope for a little bit more of a swing for me in the right direction and then take my loss. I Dont really know what else to do haha
I agree with Lurker, we've all been there. Whatever the outcome, learn from it!
Just digging in the trenches like everyone else!
  • #83,539
  • Aug 21, 2008 9:27pm Aug 21, 2008 9:27pm
Here's something I've been looking at tonight. Let's here everyone's thoughts. I know everyone is pushing long and I understand. I'm biased long myself, but let's look for a minute.

Could this just be the outter channel support for the continuation of the fall? We have hit weekly pivot of 1.8796. I know AmeriTrini is happy because he was calling to go there since the 19 Aug. http://www.forexfactory.com/showthread.php?t=101433
Good call Bro..

I know oil does affect this pair, but I can't say that it drives it day in and day out.

My current position is short at 1.8760 with SL at 1.8817 TP is undetermined at this time. I'll cover the trade when I'm comfortably in profit with probably a trailing stop so if I fall asleep, I'll atleast close with profit. My problem is I sometimes miss the next ride this way, but I secure profits.
Attached Image (click to enlarge)
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Just digging in the trenches like everyone else!
  • #83,540
  • Aug 21, 2008 10:45pm Aug 21, 2008 10:45pm
very informative chart, now you're getting me nervous. Why is it that from different angles people see different things??

I'm holding Long from 8750, get 10 pips and get out.
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