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Cable Update (GBPUSD)

  • #92,201
  • Oct 17, 2008 6:45am Oct 17, 2008 6:45am
Quoting micho
well frankly, its alright... i just withdraw my initial 5.5k today and i had 5.2k profit playing with them... now 4.5k left...
anyway i feel more relaxed cause my initial money is with me now, worst case senario i win 0$ so its better like this cause i was playing with a plan and making loads of money until god decided to stop my plan after 10 years of successful back testing and 3 months of exact results... so i was playing big lots high risk with small tp until i reach 5k profit again... now i feel safe

good idea , relieve stress and cant lose this way
  • #92,202
  • Oct 17, 2008 7:02am Oct 17, 2008 7:02am
short looking in bad shape now
When life gives you lemons, make lemonade
  • #92,203
  • Oct 17, 2008 7:04am Oct 17, 2008 7:04am
also long looking in bad shape

everything is bad shape
When life gives you lemons, make lemonade
  • #92,204
  • Oct 17, 2008 7:09am Oct 17, 2008 7:09am
Quoting micho
also long looking in bad shape

everything is bad shape
this is one of those days both look like they can happen....thats why u dont trade..we gonna have to wait for a breakout and whatever we think the possility of the opposite happening here is very high
  • #92,205
  • Oct 17, 2008 7:12am Oct 17, 2008 7:12am
Quoting nAVIN2007
this is one of those days both look like they can happen....thats why u dont trade..we gonna have to wait for a breakout and whatever we think the possility of the opposite happening here is very high
well the last 15min down trend from few hours fooled me... and i went short in the bottom then hedged in the top then... you know... this is one of these days where every decision is wrong
When life gives you lemons, make lemonade
  • #92,206
  • Oct 17, 2008 7:45am Oct 17, 2008 7:45am
Quoting micho
well the last 15min down trend from few hours fooled me... and i went short in the bottom then hedged in the top then... you know... this is one of these days where every decision is wrong

The last two days have been terrible, just terrible. I cannot see any trend. Just when I think it's going to make a H&S it slumps back again. DESPITE the bad US housing stats, this thing is stalled.

Bad idea to trade right now. If anyone has any strong insights, please share
  • #92,207
  • Oct 17, 2008 7:49am Oct 17, 2008 7:49am
just look at the dow right now just look a few weeks back forex market really pairing with the dow if dow going south forex market going same way just follow the flow n trading for short term only
  • #92,208
  • Oct 17, 2008 7:52am Oct 17, 2008 7:52am
i will buy if it's running above 1.7400 i think
Money management is good for your health...
  • #92,209
  • Oct 17, 2008 7:59am Oct 17, 2008 7:59am
crap
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When life gives you lemons, make lemonade
  • #92,210
  • Oct 17, 2008 8:03am Oct 17, 2008 8:03am
i have to say im 60% long and 40% short direction wise....but not trading it
  • #92,211
  • Oct 17, 2008 8:07am Oct 17, 2008 8:07am
Quoting micho
well the last 15min down trend from few hours fooled me... and i went short in the bottom then hedged in the top then... you know... this is one of these days where every decision is wrong
I know that feeling! I have made more bad decisions than good ones this week. But hey, it's Friday, the sun is shining. Back to it again on Monday.

Good trading everybody
  • #92,212
  • Oct 17, 2008 8:24am Oct 17, 2008 8:24am
diverence playing out...
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  • #92,213
  • Oct 17, 2008 8:24am Oct 17, 2008 8:24am
Quoting 13thheaven
i will buy if it's running above 1.7400 i think
Once again need to say.ranging market as i sid it could be.Best time to lost money.When it is ranging i would sell at level if it is close to high and buy at low area.So if price go down you will llost less money because you enter at 7300 area and if goes up more pips to be made.Oposit for short.This way since we are in range and we don't know for how long if you buy at 7400 price will more likly go down to 7300 area and you lost 100 pips or more.If goes up more you are 1 very lucky men.Very risky i think in this kind of market.Once again i don't have chart in front of me but you don't have to chase every day pips.Sometimes it is better to stay away.I know many people who lost money in past 2 days.They just don't want to listen and greedy is killing them.

Many setups will be in future.Let the big boys make move first then join.On the days like this don't looking price action but waiting for breakout and buying at lows not highs.

Thi is my thinking
  • #92,214
  • Oct 17, 2008 8:31am Oct 17, 2008 8:31am
wow, thank's a lot for the advise...
thinking of it, i will place it on my demo so that i won't lose money even if i'm wrong...
buy @1.7400 , liquidate @1.7484
thx again... sorry i'm just a newbie (a little greedy newbie) that still needs lot of learning

Quoting \"expert\"
Once again need to say.ranging market as i sid it could be.Best time to lost money.When it is ranging i would sell at level if it is close to high and buy at low area.So if price go down you will llost less money because you enter at 7300 area and if goes up more pips to be made.Oposit for short.This way since we are in range and we don't know for how long if you buy at 7400 price will more likly go down to 7300 area and you lost 100 pips or more.If goes up more you are 1 very lucky men.Very risky i think in this kind of market.Once again i don't have chart in front of me but you don't have to chase every day pips.Sometimes it is better to stay away.I know many people who lost money in past 2 days.They just don't want to listen and greedy is killing them.

Many setups will be in future.Let the big boys make move first then join.On the days like this don't looking price action but waiting for breakout and buying at lows not highs.

Thi is my thinking
Money management is good for your health...
  • #92,215
  • Oct 17, 2008 8:37am Oct 17, 2008 8:37am
Ok i made quick look at chart.On 1 hr we have reverse divergense.last time i saww that i said when the price was above 8000 that could test low at 7500 area.Now we bounce of 4 hr Gann and with this divergense we could test 7200 or 7135 area and if plays out we migt test again 7000.On the aother hand 7270 area (DP area) is good support for now for longs but in my thinking just for sculping today if you must take a trade.

On 5 min chart bearish divergence and that is why we have this down movment for now.But 5 m time frame is to small to watch for divergences in my experience and gives small range of pips.

So i think we could range for some hours or even whole day and on opening we could see new gaps because many countrys will make moves with their bailout plans.

if you not alredy in trade i would stay out for now
  • #92,216
  • Edited 8:52am Oct 17, 2008 8:40am | Edited 8:52am
Quoting 13thheaven
wow, thank's a lot for the advise...
thinking of it, i will place it on my demo so that i won't lose money even if i'm wrong...
buy @1.7400 , liquidate @1.7484
thx again... sorry i'm just a newbie (a little greedy newbie) that still needs lot of learning
any experiencied trader would shit a brick to enter this market this has to be a time not to trade. its crazy how it works seems people that are new to trading cant assess risk and just see pips....today it might give huge pips but at the same time....u can blow yur account trading this noise

weekly suggest down if not down today then wait to sunday...if it goes up a bit bit or ends as a doji then we are looking at retrace...or we can go down further to make a new low

which it gonna be is not possible to know as the dailly is saying up!

if im wrong then please someone through some enlightement
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  • #92,217
  • Oct 17, 2008 8:52am Oct 17, 2008 8:52am
Quoting PipGal
The last two days have been terrible, just terrible. I cannot see any trend. Just when I think it's going to make a H&S it slumps back again. DESPITE the bad US housing stats, this thing is stalled.

Bad idea to trade right now. If anyone has any strong insights, please share
I'm sitting on my cash right now. I've only made one trade since the close of the US Session and made only 3 pips. She is so tight right now she's ready to expolode. The question is which direction? NO ONE KNOWS!
Just digging in the trenches like everyone else!
  • #92,218
  • Oct 17, 2008 8:55am Oct 17, 2008 8:55am
OK i have solution for this day.Place order arround 7295.Buy or sell.You can even do all of them together.That way you will make pips 100% because we are ranging.Or buy at DP area sell at 73100 area.You can try this on demo.

As for demo trade it takes sometime to do on demo but it is not same whenyou are on real acc.Take micro account and trade that way.Then you will make good experiance and you will not take trades that easy.I was in some profit on demo but on real i am killing machine,Because on demo i was trying all kind of things and on real no kiding just when i am positive.that way i have much less bad trades and learned many things about patience.This is my experience.You might be oposite so...
  • #92,219
  • Oct 17, 2008 8:57am Oct 17, 2008 8:57am
Quoting \"expert\"
OK i have solution for this day.Place order arround 7295.Buy or sell.You can even do all of them together.That way you will make pips 100% because we are ranging.Or buy at DP area sell at 73100 area.You can try this on demo.

As for demo trade it takes sometime to do on demo but it is not same whenyou are on real acc.Take micro account and trade that way.Then you will make good experiance and you will not take trades that easy.I was in some profit on demo but on real i am killing machine,Because on demo i was trying all kind of things and on real no kiding just when i am positive.that way i have much less bad trades and learned many things about patience.This is my experience.You might be oposite so...

my big loss in august put a end to my over trading
  • #92,220
  • Oct 17, 2008 9:03am Oct 17, 2008 9:03am
4h 50ema might be a nice place to take a short!
Just digging in the trenches like everyone else!
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