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Cable Update (GBPUSD)

  • #93,121
  • Oct 22, 2008 4:25am Oct 22, 2008 4:25am
How soon do the senior traders here move their SL to BE?

I feel I wait too long which sometimes results in me having bad trades, for eg. I mostly wait for a +30 pip then move my SL to BE.

I just had a cable trade turn, was +14 up and then she turned, taking me out at -27.
  • #93,122
  • Oct 22, 2008 4:25am Oct 22, 2008 4:25am
Quoting 13thheaven
i'm still waiting to long if it's above 1.6450, and short if it BL...
micho, what do you think of the trend for hours ahead?
well the down trend is horrible so play only shorts
When life gives you lemons, make lemonade
  • #93,123
  • Oct 22, 2008 4:28am Oct 22, 2008 4:28am
Quoting micho
well the down trend is horrible so play only shorts
its amazing isnt it ......400 pips fall in my sleep ...this currency is looking dangerous..big time
  • #93,124
  • Oct 22, 2008 4:31am Oct 22, 2008 4:31am
Quoting Jnita
How soon do the senior traders here move their SL to BE?

I feel I wait too long which sometimes results in me having bad trades, for eg. I mostly wait for a +30 pip then move my SL to BE.

I just had a cable trade turn, was +14 up and then she turned, taking me out at -27.
I'm not a senior member, but I wait till about +20ish pips and put it at +1 rather than BE if that helps. You will get some losing trades even the best do. I also have a SL around 100pips until I'm in my profit because cable will take you out with too tighter SL

Came out of last trade +52 as well
please DON'T copy my trades I am still learning
  • #93,125
  • Oct 22, 2008 4:34am Oct 22, 2008 4:34am
Quoting ezmystic
I'm not a senior member, but I wait till about +20ish pips and put it at +1 rather than BE if that helps. You will get some losing trades even the best do. I also have a SL around 100pips until I'm in my profit because cable will take you out with too tighter SL

Came out of last trade +52 as well
Ok thanks!

Nice trade!
  • #93,126
  • Oct 22, 2008 4:36am Oct 22, 2008 4:36am
Quoting nAVIN2007
its amazing isnt it ......400 pips fall in my sleep ...this currency is looking dangerous..big time
yep weird markets
When life gives you lemons, make lemonade
  • #93,127
  • Oct 22, 2008 4:36am Oct 22, 2008 4:36am
4H chart looks like it could be turning....
  • #93,128
  • Oct 22, 2008 4:45am Oct 22, 2008 4:45am
Quoting ezmystic
hey guys,
just worked out how to put up chart.

eohater I wonder if you could let me know if I was correct in my analysis. I guess I am as I am in the trade positive.

black line 50sma I think although it just says bar average on my software, yellow line 35 sma, thick blue 10sma, green 20sma

I hope this might help others
Good entry....

There were two candles that couldn't break that 50sma, wise to enter on that next candle!

HOLLA
  • #93,129
  • Oct 22, 2008 4:47am Oct 22, 2008 4:47am
Will a pound and farther go downward? Or will there be a rebound upwards?
  • #93,130
  • Oct 22, 2008 4:51am Oct 22, 2008 4:51am
Quoting bowman
Will a pound and farther go downward? Or will there be a rebound upwards?
My money is on further downward, but there may be a short rebound.
  • #93,131
  • Oct 22, 2008 4:51am Oct 22, 2008 4:51am
Quoting Turtle
Good entry....

There were two candles that couldn't break that 50sma, wise to enter on that next candle!

HOLLA
thanks bro, eo's charts have helped me loads, and I'm using a spread bet company so I'm just taking money off them and not other traders
please DON'T copy my trades I am still learning
  • #93,132
  • Oct 22, 2008 4:56am Oct 22, 2008 4:56am
Quoting ezmystic
thanks bro, eo's charts have helped me loads, and I'm using a spread bet company so I'm just taking money off them and not other traders
I thank him also...he has helped alot of us.

My trading has gone to another level, with what he has showed me, combined with what I already know. :nerd:

HOLLA
  • #93,133
  • Oct 22, 2008 4:56am Oct 22, 2008 4:56am
Quoting ezmystic
thanks bro, eo's charts have helped me loads, and I'm using a spread bet company so I'm just taking money off them and not other traders
The money still comes from other traders- it's just a big pool.
  • #93,134
  • Oct 22, 2008 5:09am Oct 22, 2008 5:09am
Quoting PipGal
4H chart looks like it could be turning....
When life gives you lemons, make lemonade
  • #93,135
  • Oct 22, 2008 5:11am Oct 22, 2008 5:11am
im on a short from 1.6318 target 1.6256
When life gives you lemons, make lemonade
  • #93,136
  • Oct 22, 2008 5:11am Oct 22, 2008 5:11am
Quoting spintrader
The money still comes from other traders- it's just a big pool.
Oh I didn't know that.
please DON'T copy my trades I am still learning
  • #93,137
  • Oct 22, 2008 5:12am Oct 22, 2008 5:12am
significant resistance at 1.6293
When life gives you lemons, make lemonade
  • #93,138
  • Oct 22, 2008 5:15am Oct 22, 2008 5:15am
Quoting micho
significant resistance at 1.6293
you mean support?
  • #93,139
  • Oct 22, 2008 5:18am Oct 22, 2008 5:18am
Well guys didn't trade my plan and gave up pips not lost. Closed my short position late yesterday during the retrace before the big down. Was at work and couldn't watch it. Crap!!!!
  • #93,140
  • Oct 22, 2008 5:24am Oct 22, 2008 5:24am
Quoting PipGal
you mean support?
yep i mean what you said, i closed it already at 1.63
how are YOU pipgal
When life gives you lemons, make lemonade
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