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Daily Cable Analysis

  • #7,481
  • Edited 1:52pm Mar 2, 2007 1:37pm | Edited 1:52pm
9000 - 9399 i choose long
9400 - 9599 long and short
9600 - 9900(above) i choose short

thats the way my target always hit .

mostly " i am long term "
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,482
  • Mar 2, 2007 1:49pm Mar 2, 2007 1:49pm
I don't use SL too..

I don't trust the free spread (on volatility) to my bank....
  • #7,483
  • Mar 2, 2007 1:53pm Mar 2, 2007 1:53pm
Quoting notme32
if my target didnot hit today, then it should be hit next week , i always get my target , sometimes need more than a week. by the time i add another long or short each day , in and out. but still target still remain target and must be hit.
i use the same strategy.... work 90% of succefull trades and many pips+++++
  • #7,484
  • Mar 2, 2007 2:00pm Mar 2, 2007 2:00pm
Pay attention to next week news events.

Even on Monday we have USD ISM Non-Manufacturing Index

This could move G/U a lot.
  • #7,485
  • Mar 2, 2007 2:05pm Mar 2, 2007 2:05pm
Quoting henrycarol
Pay attention to next week news events.

Even on Monday we have USD ISM Non-Manufacturing Index

This could move G/U a lot.
Would you please elaborate on what the projected outcome will be?
All hard work brings a profit, but mere talk leads only to poverty.
  • #7,486
  • Mar 2, 2007 2:10pm Mar 2, 2007 2:10pm
what an interesting day to say the least. I entered several longs and scaled out profits. it was working quite well untill I got greedy was hoping for a double bottom @1.9515 where I added several lots. closed out my position giving back my profits and incuring a small loss, good thing I did so as I fell asleep could have been ugly! once we made a new low it was time to exit it is better to get out with a small loss then incuring a large draw down once I was free of that trade I was able to make several other trades ending with a decent profit! much better than holding a long with a large draw down over the weekend. the weekly chart shows a higher high and a lower low ,still in the range . see ya all soon peace
  • #7,487
  • Mar 2, 2007 2:14pm Mar 2, 2007 2:14pm
wow page 500 for this thread! way ta go monarch!
  • #7,488
  • Mar 2, 2007 2:16pm Mar 2, 2007 2:16pm
Quoting pablorpl
i use the same strategy.... work 90% of succefull trades and many pips+++++
ah i got a friend here

from now i will make work 100%, never cut loss my position, always close with profit, its only need time.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,489
  • Mar 2, 2007 2:18pm Mar 2, 2007 2:18pm
Quoting notme32
ah i got a friend here

from now i will make work 100%, never cut loss my position, always close with profit, its only need time.

sounds interesting but risky,, is it not?
Whatever you do, just keep doing it in a dicipline manner.
  • #7,490
  • Mar 2, 2007 2:22pm Mar 2, 2007 2:22pm
yes , thats why i love forex, risky .......

but it can do by locking.....short and long

and i see no risk , only test my patience
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,491
  • Mar 2, 2007 2:26pm Mar 2, 2007 2:26pm
Quoting notme32
yes , thats why i love forex, risky .......
So do you just keep two trades open in opposite directions and close one as it reaches the top/bottom and wait for the other one to reach its target? The obvious question then is, if you know when the price will reach a top or bottom, why bother with bi-directional trades, instead of going in one direction at a time? Let me know. Thanks
  • #7,492
  • Mar 2, 2007 2:36pm Mar 2, 2007 2:36pm
because i never sure about direction.

i just closed with profit and wait the other position reach profit too. ( when i feel its enough ), i also added some position after i closed with profit.

the other left position will be my target .

How to explain this better way ? i dunno
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,493
  • Mar 2, 2007 2:41pm Mar 2, 2007 2:41pm
Quoting notme32
because i never sure about direction.

i just closed with profit and wait the other position reach profit too. ( when i feel its enough ), i also added some position after i closed with profit.

the other left position will be my target .

How to explain this better way ? i dunno
Ok I think I understand. But in that case you need to be prepared to handle drawdawn of >1000 pips at times, and it may take a very long time for you to recover this. For example if you had a short position opened in october or november 2006, you'd still be deep in the minus. Or am I still missing something?
  • #7,494
  • Mar 2, 2007 2:41pm Mar 2, 2007 2:41pm
Quoting notme32
because i never sure about direction.

i just closed with profit and wait the other position reach profit too. ( when i feel its enough ), i also added some position after i closed with profit.

the other left position will be my target .

How to explain this better way ? i dunno
Interesting... you go on trading despite the loosing trade, that will reduce drawdown. In this quite 400-500 pips ranging market since December, no reason why the looser will not become a winner eventually...

If a fat reversal comes, pull the plug, be happy.
  • #7,495
  • Mar 2, 2007 2:43pm Mar 2, 2007 2:43pm
I will share with you my actions today

I have waited many days without any transaction but decided to enter today Friday March 2nd.
From last night I have entered the following trades on my mini account (1 pip = 1$):

buy @ 1.9590 with PT at 9640
buy @ 1.9555 PT 9605
buy @ 1.9515 PT at 9565
buy @ 1.9460 profit target open

GBP now is around 9435

I have gained many pips and lost same from some other quick transaction too.

I have learned a new stratregy now considering the MACD chart (written by Philip Nel in jan 07 here in FF) and will start applying it next week based on 4 hours chart.

This is the link for the strategy and in fact I have tested it last night on both GBP & EUR and they have both worked ok.
http://www.forexfactory.com/showthread.php?t=14630


I will use my open positions on the above strategy now on.
  • #7,496
  • Mar 2, 2007 2:44pm Mar 2, 2007 2:44pm
Quoting 59fender
short 1.9456
closed short entering long 1.9438
  • #7,497
  • Mar 2, 2007 2:48pm Mar 2, 2007 2:48pm
do you use this strategy before news? after news?
do you look at any chart? time frame?


Quoting notme32
because i never sure about direction.

i just closed with profit and wait the other position reach profit too. ( when i feel its enough ), i also added some position after i closed with profit.

the other left position will be my target .

How to explain this better way ? i dunno
Whatever you do, just keep doing it in a dicipline manner.
  • #7,498
  • Mar 2, 2007 2:57pm Mar 2, 2007 2:57pm
say i holding short at 9442 since week ago and long at 9564 since 2 days ago.
( many other position in and out between that time, with many pips.)

yesterday i closed my long(9564) at 9600 ( + 36) at that time my short at9442 become (-158, virtually because still open).
Today price reach my position and i closed at 9425 . then i long from 9435 still open, if price goes down then i will take short at 9395, locking again.
So i will have short at 9395 and long at 9425 , i will closed with profit both, never cut loss, just lock again and again.
I Deeply Love My Virtual Life In Virtual World , RLC
  • #7,499
  • Mar 2, 2007 3:03pm Mar 2, 2007 3:03pm
Quoting notme32
say i holding short at 9442 since week ago and long at 9564 since 2 days ago.
( many other position in and out between that time, with many pips.)

yesterday i closed my long(9564) at 9600 ( + 36) at that time my short at9442 become (-158, virtually because still open).
Today price reach my position and i closed at 9425 . then i long from 9435 still open, if price goes down then i will take short at 9395, locking again.
So i will have short at 9395 and long at 9425 , i will closed with profit both, never cut loss, just lock again and again.
What would you do in the case of current GBP/JPY fall? Let's say at the beginning you long-ed at 236.00 but then it moved at opposite direction. Short. And after closing that short, it still moved down. Then what?
Anyway, it's end of week, enjoy weekend everyone!
Tra-X
  • #7,500
  • Mar 2, 2007 3:05pm Mar 2, 2007 3:05pm
ohhh for how long have you been using this strategy???

and what broker do you use???
-i personally use forex and they dont let me be short and long at the same time in a pair

by the way your method sounds owesome,, again for how long have you used it? and what is ur pip average per week or month??

nice info!!!!!
Quoting notme32
say i holding short at 9442 since week ago and long at 9564 since 2 days ago.
( many other position in and out between that time, with many pips.)

yesterday i closed my long(9564) at 9600 ( + 36) at that time my short at9442 become (-158, virtually because still open).
Today price reach my position and i closed at 9425 . then i long from 9435 still open, if price goes down then i will take short at 9395, locking again.
So i will have short at 9395 and long at 9425 , i will closed with profit both, never cut loss, just lock again and again.
Whatever you do, just keep doing it in a dicipline manner.
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