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Cable Update (GBPUSD)

  • #87,641
  • Sep 12, 2008 9:41am Sep 12, 2008 9:41am
only place to start is from the bottom for me now... closed out. Wish me luck on my journey back up gentleman
Lets do this...
  • #87,642
  • Sep 12, 2008 9:42am Sep 12, 2008 9:42am
Quoting Infinity
My summary for today...

loss = 0 pips
win = 0 pips
total = 0 pips

ya.. it is hard to make deal
  • #87,643
  • Sep 12, 2008 9:43am Sep 12, 2008 9:43am
Quoting Shilva
if it does i am really glad I had a stop!!!!!!!!!!!!!

you need somewhere around 8600 don't you?
i need 83-84....

this is the retracement bit, so what i have to do now is wait for it to retrace 50 or 61.8 of the downward move and exit the long and hopefully it will conitnue down or wait for it to go right up and place buys on break even and on the way down the sell will engage assuming we staying in a downtrend...any iother way is to dangerous...

if it fall right to almost bottom i can buy 0.1 and hold till i reach a max..that might help also.. its a big mess
  • #87,644
  • Sep 12, 2008 9:45am Sep 12, 2008 9:45am
look at USDJPY in 1h
from 10670 to 107.40

and GBP do nothing
  • #87,645
  • Sep 12, 2008 9:46am Sep 12, 2008 9:46am
Quoting jcminvest
only place to start is from the bottom for me now... closed out. Wish me luck on my journey back up gentleman

i think u made the right decision welldone on that...

read, read and read..good luck on the comeback already!!!!!!
  • #87,646
  • Sep 12, 2008 9:46am Sep 12, 2008 9:46am
Quoting Hamood FX
ya.. it is hard to make deal
Not really, this move was always very likely after yesterdays close but I decided on short trades only this week. Besides, I'm not really the freaky Friday type...
Patience + Discipline - Greed = Success
  • #87,647
  • Sep 12, 2008 9:49am Sep 12, 2008 9:49am
Quoting Infinity
Not really, this move was always very likely after yesterdays close but I decided on short trades only this week. Besides, I'm not really the freaky Friday type...
  • #87,648
  • Sep 12, 2008 9:50am Sep 12, 2008 9:50am
Quoting jcminvest
only place to start is from the bottom for me now... closed out. Wish me luck on my journey back up gentleman
Good luck bro but please, practice patience, discipline and remove the greed. Never get too confident, be humble or be humbled.....
Patience + Discipline - Greed = Success
  • #87,649
  • Sep 12, 2008 9:51am Sep 12, 2008 9:51am
good lord this thing has some power behind it
  • #87,650
  • Sep 12, 2008 9:52am Sep 12, 2008 9:52am
Quoting NoBread
wkly pivot 7828, but i tried a short @ 7700 yeah that worked out good

don't worry mate, I had a short from 7735, that worked out better (not)

please DON'T copy my trades I am still learning
  • #87,651
  • Sep 12, 2008 9:56am Sep 12, 2008 9:56am
Quoting jcminvest
only place to start is from the bottom for me now... closed out. Wish me luck on my journey back up gentleman
My condolences!!! I'm proposing a moment of silence for brother jcm...I'm really in a state of shock...did he really just lose 32K...not too mention his whole account on one friggin' trade....unf-ingbelievable...and sad!!
  • #87,652
  • Sep 12, 2008 9:58am Sep 12, 2008 9:58am
Quoting PippinAintEZ
My condolences!!! I'm proposing a moment of silence for brother jcm...I'm really in a state of shock...did he really just lose 32K...not too mention his whole account on one friggin' trade....unf-ingbelievable...and sad!!
goes to show money management way more important than chart analysis...
Trading is 80% Emotional, 20% Technical
  • #87,653
  • Sep 12, 2008 10:01am Sep 12, 2008 10:01am
Quoting jcminvest
is it worth taking a 25k hit to hold 7k to continue trading another day? or risking it to see if the EUR comes back down at all for me?
jcminvest,

I made the mistake last year of holding on to a large floating loss. It wiped out my account. In looking back, if I had taken a rather large loss, I would have been able to trade another day instead of having to take a year off to try again. However, it was a very good lesson (well learned this time) as I was new and didn't follow the stop loss rules of good mm.

I'm really sorry for your loss, I know how it feels, my was a several thousand dollar loss as well.

Good luck with whichever way you choose.
Enter Signature
  • #87,654
  • Sep 12, 2008 10:04am Sep 12, 2008 10:04am
jcminvest,

I'm sorry, my computer connection must be running very slow, I didn't realize you had already closed before my last post.

I'm hoping you can make it back.
Enter Signature
  • #87,655
  • Sep 12, 2008 10:06am Sep 12, 2008 10:06am
expect a selloff in the next hour before London closes?!
  • #87,656
  • Sep 12, 2008 10:07am Sep 12, 2008 10:07am
Quoting PippinAintEZ
My condolences!!! I'm proposing a moment of silence for brother jcm...I'm really in a state of shock...did he really just lose 32K...not too mention his whole account on one friggin' trade....unf-ingbelievable...and sad!!
i doubt he lost 32k real money thats a lot of doe, maybe he talking about lot size or something
  • #87,657
  • Sep 12, 2008 10:09am Sep 12, 2008 10:09am
Quoting Runway Trade
expect a selloff in the next hour before London closes?!
after london closed...do you think it will be down???
  • #87,658
  • Sep 12, 2008 10:09am Sep 12, 2008 10:09am
greed won and I lost my friends.... im still trading... just with much less but a lesson was learned. I just hope you guys can help pick me up after this. Im back to where I started. But yes it was very very poor MM. I have learned and hope and pray I dont make the same mistake again.
Lets do this...
  • #87,659
  • Sep 12, 2008 10:14am Sep 12, 2008 10:14am
right, i'm off guys, been stuck in a meeting for the last 2 hours and tp hit, then continued to go up another 100 pips
anyway, i'm finished for the day and i'm outta here and gonna enjoy the weekend.
have a good end to the session and a good weekend
PIPPED TO THE LINE
  • #87,660
  • Sep 12, 2008 10:14am Sep 12, 2008 10:14am
Quoting Hamood FX
after london closed...do you think it will be down???
I think before and down!?
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