Cable Update (GBPUSD)

how any1 supposed to know that fool will say ....oh shit ...hedge gonna need a miracle......

as allan said "hedges are for farmers"

gud lck

sterling got every reason to break 8300 lets see if it happens...

Nav, mate, you are not in a hedge trade ...you just have open positions, it would only be a hedge if you had bought higher than you sold or sold higher than you bought then you would always be hedged at the difefrence until the value dae of those orders.

Your only hope of recovering the situation is to await either your furthest sell or buy entry level to be reached, at which point the other buy or sell will be in profit, then close out the opposing orders and hold the open orders in the hope of a follow thru that could recover the opposing now closed trades losses+

nav - cut losses let winners run, dont hedge unless u know what ur doing

when trading badly u start to wish and hope, u need timeout from markets analyse why and what u doing wrong? self evalution the key, yes journal is a good idea to keep track of ur decision making disciple

I dont think that falling GBR only cased by this news -

BOE Blanchflower: Substantial Fall in Interest Rates Needed Aug 28 / 10:21

Take a look at the oil it dropped 2 dollars for past hour

Again we're at the same weekly pivot. Let's see will it hold. If not, then next pivot is over 200 pips down.

i think this is the bottom for now ....i need to get out of these longs .....i dont want to hold to 1.7....

hi NAVIN
great man

Buy gbp/usd: 1,8177 - retrace from 1,8177 to 1,8260

hi buddy .....im in a lot of mess here...but im learning so much ..university fee and a challenge to come out of this successfully......

8315-33 becomes the first potential resistance now on any pullback from this area.

Did I miss the opportunity to go long?
edit: Long 1.8323, but I'll stop it out if it falls too hard.

Once again just like yesterday I will be looking for a long position down here.

now i can work on a plan to get out of the longs....as this appear to be a base now ...assuming the news on UK confidence cant break this puppy

Not sure who was always saying Trend is your Friend-- but Thank you!!

Followed trends past three days for +230 pips - now getting confidence back after blowing the account.

Also -- which is working for me-- I am not looking at any forums untill I have closed all trades for the day-- this gives me the chance to go with what I see and beleive and not get conflicting thoughts- which has happenned.

GL all for those going still in there today.

Navin you trade too much man. Always in and out. Patience my friend. Get away from your computer every now and again. Private message me man.

this trend has been paying well to its followers.
My thoughts are that we have two areas to look at:
1-8244-219 where there is a confluence of many things including the weekly 365ema and some monthly fib levels.
2-8180 area where we have amonthly support plus the monthly 89ema.
Below these levels i'l look for 8094 which is the 74.6% of the move from 1.7049.
There is no bottom to this trend until a weekly signal presents itself; nothing smaller than a weekly candlestick signal is reliable.

Right on steelhead im seeing the same thing man

As well as 'the trend is your friend'

it is important to remember 'pride comes before a fall'

The most account blowing danger period comes after 6 or 10 wins when people feel invincible - because that is when they change the rules !!!!

What worked this week will not work next week

and we feel bemused

Once we realise that the 'news' often doesn't work the way it should, then we can make sense of the irrationality.

We can't see the rationality because we don't have all the info and we never will so it's no good looking for it

Watch your parking meters and keep those s/l's on at all times - I used to ride bareback but I don't nowadays