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Cable Update (GBPUSD)

  • #85,321
  • Sep 1, 2008 9:42am Sep 1, 2008 9:42am
just don't look like there's juice to break this buck 80 level today.....

think I will start drinking and smokeing for the rest of the holiday.....
  • #85,322
  • Sep 1, 2008 9:50am Sep 1, 2008 9:50am
Quoting Shilva
just don't look like there's juice to break this buck 80 level today.....

think I will start drinking and smokeing for the rest of the holiday.....
no juice to go up either....
  • #85,323
  • Sep 1, 2008 9:56am Sep 1, 2008 9:56am
Quote
think I will start drinking and smokeing for the rest of the holiday.....

  • #85,324
  • Sep 1, 2008 9:58am Sep 1, 2008 9:58am
it keeps falling...
  • #85,325
  • Sep 1, 2008 10:03am Sep 1, 2008 10:03am
Anything can happen..........and usually does!

Went to the kitchen and poped a brew, came back for one more look and short is up 30
  • #85,326
  • Sep 1, 2008 10:12am Sep 1, 2008 10:12am
I stayed out of the market today, kinda regretting it as it seems it was easy money
  • #85,327
  • Sep 1, 2008 10:15am Sep 1, 2008 10:15am
Quoting micho
im short 1.8012
sl 1.8036
tp 1.7960
wish me luck
I am with you bro.
  • #85,328
  • Sep 1, 2008 10:17am Sep 1, 2008 10:17am
very strong bearish engulfing on 15M TF looks like jus holding 1.80 psychological level before it falls.
  • #85,329
  • Sep 1, 2008 10:22am Sep 1, 2008 10:22am
i see its stop loss hunting .....it went down took out quick i think now poped back above 1.800 level ....the piece of sh*t.....
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  • #85,330
  • Sep 1, 2008 10:23am Sep 1, 2008 10:23am
Quoting nAVIN2007
i see its stop loss hunting .....it went down took out quick i think now poped back above 1.800 level ....the piece of sh*t.....
were you long?
  • #85,331
  • Sep 1, 2008 10:24am Sep 1, 2008 10:24am
im hit ! im hit ! damned.
  • #85,332
  • Sep 1, 2008 10:29am Sep 1, 2008 10:29am
Quoting bksujal
were you long?
im hedged bro ...short and long .....the long was silly then i added to it...to get in biger trouble now im waiting for this to go right down or retrace up to 50% level...which i cant see....this is the only way i can prevent a biger loss

hedge loss is £252
  • #85,333
  • Sep 1, 2008 10:34am Sep 1, 2008 10:34am
Quoting nAVIN2007
im hedged bro ...short and long .....the long was silly then i added to it...to get in biger trouble now im waiting for this to go right down or retrace up to 50% level...which i cant see....this is the only way i can prevent a biger loss

hedge loss is £252
thats why people said SL is much better than hedge . . no headache, ..cut it and start a new battle.
  • #85,334
  • Sep 1, 2008 10:40am Sep 1, 2008 10:40am
Quoting spathi
thats why people said SL is much better than hedge . . no headache, ..cut it and start a new battle.
yeah thats true .....but there ways in which u can get out of it as well..i know the direction is down....so all i have to do is wait for the price to retrace to 50% level once it makes a lower low..... it will try make a lower high....place break even on the longs and place stop loss right were the longs are....this way i have a chance sell will engage and if it goes wrong i lose the same money anyway..

wont lose my money without a fight....if market want to adapt...i will be damned if i dont too...

well that the theory at least
  • #85,335
  • Sep 1, 2008 10:55am Sep 1, 2008 10:55am
Is it a good move to long at present price?
  • #85,336
  • Sep 1, 2008 10:58am Sep 1, 2008 10:58am
Quoting nAVIN2007
yeah thats true .....but there ways in which u can get out of it as well..i know the direction is down....so all i have to do is wait for the price to retrace to 50% level once it makes a lower low..... it will try make a lower high....place break even on the longs and place stop loss right were the longs are....this way i have a chance sell will engage and if it goes wrong i lose the same money anyway..

wont lose my money without a fight....if market want to adapt...i will be damned if i dont too...

well that the theory at least
I have hedged successfully using double the order size of the original position... and waited until they canceled each other out and closed both or closed the loser and kept the winning order open. I have also gotten double hedged and had a nasty MC. You can get out of trouble if you are careful. I am back to using stops again most of the time

Good Luck!!! I hope it goes in your favor.
  • #85,337
  • Sep 1, 2008 11:12am Sep 1, 2008 11:12am
Quoting MykeFX
I have hedged successfully using double the order size of the original position... and waited until they canceled each other out and closed both or closed the loser and kept the winning order open. I have also gotten double hedged and had a nasty MC. You can get out of trouble if you are careful. I am back to using stops again most of the time

Good Luck!!! I hope it goes in your favor.
thanks mate......id much rather use a stop loss instead of this..however due to the hedge being a problem it make me think a lot harder and i have learned a hell of a lot, just from this being a problem...the mainm thing for me is to get experience and dont lose my account ....i am no where near ready to being profitable, my learning curve needs to go a long way...

good luck to as well buddy ...hedge a lot less
  • #85,338
  • Sep 1, 2008 12:56pm Sep 1, 2008 12:56pm
Quoting nAVIN2007
im hedged bro ...short and long .....the long was silly then i added to it...to get in biger trouble now im waiting for this to go right down or retrace up to 50% level...which i cant see....this is the only way i can prevent a biger loss

hedge loss is £252

Navin you really need to stop over trading. The best way to get into the poor house is over trading. Be patient and wait for the right setup.
  • #85,339
  • Sep 1, 2008 12:57pm Sep 1, 2008 12:57pm
Quoting steelhead
Navin you really need to stop over trading. The best way to get into the poor house is over trading. Be patient and wait for the right setup.
trust me i stoped already
  • #85,340
  • Sep 1, 2008 2:11pm Sep 1, 2008 2:11pm
Im still holding my stupid long trade. I had a rule for myself to never trade on a sunday (monday night) and i broke that rule and now i am paying for it. I have always been consistant following my rules and i just don't know what got into me last night. I'm so pissed i have to sit here wait for it to go back up my way..ugh
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