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Cable Update (GBPUSD)

  • #84,821
  • Aug 29, 2008 1:56am Aug 29, 2008 1:56am
Quoting micho
no i guess nobody is trading gu this month because it sucks big time
You're defenitely right, august was terrible for GU. But for me personally i squeeze my usual target of +30 pips out of it. sometimes i look for another entry when there is a good setup and sometimes i just call it a day and walk out with +30. I'm defenitely looking forward to the upward retracement next week on gu. $$$$
  • #84,822
  • Aug 29, 2008 1:57am Aug 29, 2008 1:57am
Quoting micho
no i guess nobody is trading gu this month because it sucks big time

ahleeen ya m3allem
come on every1 sould be trading GU
i just made money shorted at 1.8307 till 8284
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #84,823
  • Aug 29, 2008 1:57am Aug 29, 2008 1:57am
Quoting Forextrader4
I'm out of my short at 1.8269 with +30 pips. I'm so happy i passed my daily target of 30 pips. So far today +21 pips, +12 pip, and +30 pips. I hope everyone else is Pipping..lol
what is your lot size?
When life gives you lemons, make lemonade
  • #84,824
  • Aug 29, 2008 1:58am Aug 29, 2008 1:58am
Quoting mr.leahy
?? it only sucks if you try to go long lol
it sucks both ways
When life gives you lemons, make lemonade
  • #84,825
  • Aug 29, 2008 1:59am Aug 29, 2008 1:59am
Quoting salah k.
ahleeen ya m3allem
come on every1 sould be trading GU
i just made money shorted at 1.8307 till 8284
hi man
you can make money and lose money quickly as well. trading gu this month is like gambling.
what lot size u play
When life gives you lemons, make lemonade
  • #84,826
  • Aug 29, 2008 2:00am Aug 29, 2008 2:00am
Quoting micho
what is your lot size?
Each trade is 5 mini lots. So usually i look for +30 pips everyday wich equals to $150. I do not take more than Two trades at a time which would equal to 10 mini lots= 1 standard lot. =] So today so far $315 all together.
  • #84,827
  • Aug 29, 2008 2:04am Aug 29, 2008 2:04am
Quoting Forextrader4
Each trade is 5 mini lots. So usually i look for +30 pips everyday wich equals to $150. I do not take more than Two trades at a time which would equal to 10 mini lots= 1 standard lot. =] So today so far $315 all together.
so 0.5 lots is how much risk out of ur account balance?
When life gives you lemons, make lemonade
  • #84,828
  • Aug 29, 2008 2:05am Aug 29, 2008 2:05am
Quoting micho
hi man
you can make money and lose money quickly as well. trading gu this month is like gambling.
what lot size u play

no dude i ve been selling since 197 me and boxingislife

so i kinda caught the trend on gold cable euro aussie from almost the beginnig
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #84,829
  • Aug 29, 2008 2:05am Aug 29, 2008 2:05am
today until now im on +612$ but overall this shit month still down around 3.5k
When life gives you lemons, make lemonade
  • #84,830
  • Aug 29, 2008 2:05am Aug 29, 2008 2:05am
Here's my post from another thread....I too had spotted the contracting moves in cable and so took my profits early as Frankies Hour often has a reversal. I did consider leaving half open and putting a limit order at the MS1 level - 269 plus spread and slippage. But being Freaky Friday I put the pips in my bank.....TWT

"The first trade of my day was sweet.

Price couldn't make the 350 / MR1 confluence indicating weakness, also this was the 61.8% retrace of yesterdays range.

My entry was at the break of the 34 ema and I put a limit order at 290 to allow for a push to 285 - a level that often gives a bounce after a 100 level is broken.....http://www.forexfactory.com/images/icons/icon12.gif"



Edit: No reversal in FH today, MS1 was hit, so that would have given +32 and +50
Attached Thumbnailshttp://www.forexfactory.com/attachme...1&d=1219991754
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Trading Levels with WRBs
  • #84,831
  • Aug 29, 2008 2:07am Aug 29, 2008 2:07am
Quoting micho
so 0.5 lots is how much risk out of ur account balance?
It is little less than 3% of the total balance. I don't want to risk anymore than that just in case it goes against me i don't want my emotions to kick in. I'm very happy usually with +30 pips a trade ( a day) = $150. But most of the time i take a good 3-4 trades a day. So some days i end up with over 30 pips. Like today so far +63.
  • #84,832
  • Aug 29, 2008 2:09am Aug 29, 2008 2:09am
Sorry guys, i know this is off the topic but is anyone in the hurricane area?
Keep It Simple Stupid
  • #84,833
  • Aug 29, 2008 2:12am Aug 29, 2008 2:12am
Quoting salah k.
no dude i ve been selling since 197 me and boxingislife

so i kinda caught the trend on gold cable euro aussie from almost the beginnig
cool
When life gives you lemons, make lemonade
  • #84,834
  • Aug 29, 2008 2:13am Aug 29, 2008 2:13am
Quoting micho
today until now im on +612$ but overall this shit month still down around 3.5k
wow....thats my account....i hope u make it back friend ....this is heading to 1.82.....on 1hr chart it retrace 61.8....im looking to see if it break 1.82..i might try and short it..ABCD pattern...
Attached Image (click to enlarge)
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  • #84,835
  • Aug 29, 2008 2:14am Aug 29, 2008 2:14am
you know sal, we have a different style in trading
for my style this month it was bad. i mean the pattern changed, i hope its not permanent like what happened with EURUSD in April 2007.
When life gives you lemons, make lemonade
  • #84,836
  • Aug 29, 2008 2:19am Aug 29, 2008 2:19am
Quoting micho
you know sal, we have a different style in trading
for my style this month it was bad. i mean the pattern changed, i hope its not permanent like what happened with EURUSD in April 2007.
How many lots do you trade on your trades? Do you have a set numbers of lots for each trade like i do it or do you do it differently?
  • #84,837
  • Aug 29, 2008 2:22am Aug 29, 2008 2:22am
Quoting micho
you know sal, we have a different style in trading
for my style this month it was bad. i mean the pattern changed, i hope its not permanent like what happened with EURUSD in April 2007.
Pardon my ignorance, but could you please tell me what happened to eurusd in April 2007?

Thanks.
Expected the unexpected
  • #84,838
  • Aug 29, 2008 2:23am Aug 29, 2008 2:23am
Quoting micho
you know sal, we have a different style in trading
for my style this month it was bad. i mean the pattern changed, i hope its not permanent like what happened with EURUSD in April 2007.
its back to normal now .....3 weeks ago it just blew everything away...just overnight totally caught a lot of people...its still blowing the supports..this is the problem with EA..it cannot adapt to change unless u reprograme it...

i hope u can adjust it...but then be carefull...market can change again and u must have sure u dont get caught again..
  • #84,839
  • Aug 29, 2008 2:24am Aug 29, 2008 2:24am
It up is forceing
  • #84,840
  • Aug 29, 2008 2:25am Aug 29, 2008 2:25am
Quoting Forextrader4
How many lots do you trade on your trades? Do you have a set numbers of lots for each trade like i do it or do you do it differently?
i trade 1.5 to 2% of my account balance, around 1.7 lots now and its progressive
When life gives you lemons, make lemonade
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