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Cable Update (GBPUSD)

  • #84,501
  • Aug 28, 2008 3:46am Aug 28, 2008 3:46am
Just wondering how much everyone puts on per pip as a percentage of how much is in their account balance.

Say account balance $5000 do people put on between $1-$5 per pip?
please DON'T copy my trades I am still learning
  • #84,502
  • Aug 28, 2008 3:48am Aug 28, 2008 3:48am
Quoting micho
compared to the last 10 years, this month's patterns have changed. do you know what i mean? i hope its just temporary, that happened before for a month of time, but hopefully not forever like EURUSD

thats because UK entered first recession in over 10 years, u have to realise what is the main theme is in the markets and trade it, market is what it is, we cant control it, we can only control our own actions.....

first six months cable spent cosoldating in crap range brackets now out of it and firmer moving lower, u just have to trade what u see and go with the flow, i day trade cable there monthly patterns dont really matter a huge deal, price action is the key on monthly period, 2.00 level was overpriced market now looking for fair value for sterling which seems to be lower on "monthly" averages on 15 year basis. it shows u markets over shoot.
Trading is 80% Emotional, 20% Technical
  • #84,503
  • Aug 28, 2008 3:50am Aug 28, 2008 3:50am
Quoting fx local
thats because UK entered first recession in over 10 years, u have to realise what is the main theme is in the markets and trade it, market is what it is, we cant control it, we can only control our own actions.....

first six months cable spent cosoldating in crap range brackets now out of it and firmer moving lower, u just have to trade what u see and go with the flow, i day trade cable there monthly patterns dont really matter a huge deal, price action is the key on monthly period, 2.00 level was overpriced market now looking for fair value for sterling which seems to be lower on "monthly" averages on 15 year basis. it shows u markets over shoot.
how can i get the history of GBPUSD 5min chart before 1999? for metatrader
When life gives you lemons, make lemonade
  • #84,504
  • Aug 28, 2008 3:57am Aug 28, 2008 3:57am
Quoting nAVIN2007
i think the only way out of this is to take partail profit if it goes to the top and partail if it comes down....cause 0.8 lot size in make me very nervous...
its ok buddy..ive been in your situation before..but now i try not to use my emotion coz its killing me dude
  • #84,505
  • Aug 28, 2008 4:03am Aug 28, 2008 4:03am
Quoting bbmac
Hi Nav, I too am willing you to suceed. In respect of the current situation, unless you close out the opposing trades when one of the furthest entry points is reached be it the buy or sell, and then hold those trades to recover the opposing loss,...then the trade is already lost. Whatever you do tghough, make a decision and stick to it.

In repect of your general situation, quite simply at the moment; you do not have a reliable consistently profitable over a sample trading system/methodology that you are able to impliment with impunity on a live account.

Stop live trading now and go back to demo,....until you are consistently profitable with a methodology, then build up live slowly from 0.1lot only going to next level when you are consistently profitable at the former.

G/L.
i found what im doing wrong only just realised it ...all my entries should have been the opposite...seems i broke the most important rule in trading...

in channel assume bounce as appossed to breakout......i guess i was after a perfect entry that i always assume it will break instead of bounce..

so i need to change this thought process.....and learn what f*cking support and resistance means....like fxlocal say "school boy errors" and i hedged because of fear of blowing account...which i think by me time to fix my shit..

posting this cause im likely to lose this trade big time but id want to post this cause other might be doing the same thing..and at least some good can come out of it... my hedged loss is £247..balance is now only 1,7k
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  • #84,506
  • Aug 28, 2008 4:14am Aug 28, 2008 4:14am
Nice triangle on 1 Hr. Price squeezed right at the apex. Waiting for a breakout
  • #84,507
  • Aug 28, 2008 4:16am Aug 28, 2008 4:16am
MNI Cable: Fundamental levels (orders, options, technicals)
$1.8490/500 Medium offers
$1.8450 Medium offers
$1.8430 Medium offers
$1.8400/10 Medium offers/Stops on break/Int.Day high $1.8404 (Asia)
$1.8390/95 Recovery highs early Europe/Medium offers
$1.8370 ***Current market rate 0903GMT Thursday
$1.8330/20 Medium demand
$1.8300 Medium demand
$1.8285/80 Medium demand/$1.8285 NY low
$1.8265/50 Medium demand/Stops on break
$1.8230/20 Medium demand
Trading is 80% Emotional, 20% Technical
  • #84,508
  • Aug 28, 2008 4:17am Aug 28, 2008 4:17am
I look at your chart, i see short signal now..
Are you short at the moment?
"Invest With The Insiders, Not The Masses" George Muzea
  • #84,509
  • Aug 28, 2008 4:20am Aug 28, 2008 4:20am
Quoting kamsurin
Nice triangle on 1 Hr. Price squeezed right at the apex. Waiting for a breakout
euro/usd is moving up but cable stays at one level
Jesus Christ is my only Lord !
  • #84,510
  • Aug 28, 2008 4:21am Aug 28, 2008 4:21am
Quoting Qu|cksilver
I look at your chart, i see short signal now..
Are you short at the moment?

long and short..
  • #84,511
  • Aug 28, 2008 4:33am Aug 28, 2008 4:33am
Heres what I think Nav



Quoting nAVIN2007
i found what im doing wrong only just realised it ...all my entries should have been the opposite...seems i broke the most important rule in trading...

in channel assume bounce as appossed to breakout......i guess i was after a perfect entry that i always assume it will break instead of bounce..

so i need to change this thought process.....and learn what f*cking support and resistance means....like fxlocal say "school boy errors" and i hedged because of fear of blowing account...which i think by me time to fix my shit..

posting this cause im likely to lose this trade big time but id want to post this cause other might be doing the same thing..and at least some good can come out of it... my hedged loss is £247..balance is now only 1,7k
Attached Image (click to enlarge)
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On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #84,512
  • Aug 28, 2008 4:47am Aug 28, 2008 4:47am
Failed breakout to the upside. Will we see a breakout to the downside?
Attached Image (click to enlarge)
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  • #84,513
  • Aug 28, 2008 5:01am Aug 28, 2008 5:01am
06:00 08/28 CABLE FALLS 20 PIPS TO $1.8350 AFTER WEAK UK CBI SURVEY
06:00 08/28 UK Aug Sales Volumes Hit All Time Low - CBI
06:00 08/28 UK Data: CBI Distributive Trades Table - Retailing
06:00 08/28 CBI MONTHLY VOLUME BALANCE LOWEST ON RECORD; WELL BELOW F'CAST
06:00 08/28 CBI: AUG QUARTERLY REPORTED SELLING PRICES +48% VS +56% IN MAY
06:00 08/28 CBI: AUG QTRLY AVG EXPECTED SELLING PRICES +42% VS +52% MAY
06:00 08/28 CBI: AUG QTRLY BUSINESS SITUATION -5% VS +6% IN MAY
06:00 08/28 UK CBI: AUG VOLUME OF UNDERLYING SALES -30% VS -20% JULY
06:00 08/28 UK CBI: AUG ORDERS VOLUME BALANCE -56% VS -37% JULY
06:00 08/28 UK CBI: SEP EXPECTED SALES BALANCE -42% VS -32% FOR AUG
06:00 08/28 UK CBI DIST TRADES: AUG SALES VOL BALANCE -46% VS -36% JULY
Trading is 80% Emotional, 20% Technical
  • #84,514
  • Aug 28, 2008 5:06am Aug 28, 2008 5:06am
again sell is stress free money making strategy
Trading is 80% Emotional, 20% Technical
  • #84,515
  • Aug 28, 2008 5:18am Aug 28, 2008 5:18am
sell sell sell
  • #84,516
  • Aug 28, 2008 5:25am Aug 28, 2008 5:25am
It does not want to fall down
  • #84,517
  • Aug 28, 2008 5:39am Aug 28, 2008 5:39am
to risky to short OR long at this point; mixed signals - im going to wait...
  • #84,518
  • Aug 28, 2008 5:40am Aug 28, 2008 5:40am
Quoting mr.m
to risky to short OR long at this point; mixed signals - im going to wait...
ps. although my bias is short!
  • #84,519
  • Aug 28, 2008 5:41am Aug 28, 2008 5:41am
EURGBP down, so it could hold that.
  • #84,520
  • Aug 28, 2008 5:43am Aug 28, 2008 5:43am
This day will pass mixed
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