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Cable Update (GBPUSD)

  • #96,421
  • Nov 7, 2008 9:00am Nov 7, 2008 9:00am
hammer guy got defeated this time around...

5820 if top of m15 channel
Patience + Discipline - Greed = Success
  • #96,422
  • Nov 7, 2008 9:00am Nov 7, 2008 9:00am
Quoting eohater
My position is covered in the profit! I'm not ready to add!
cable has fallen back into that range....good job on being carefull

it touched the line and bounced and retrace 50% fibo confluence....it needs to now make a new low otherwise something is definately keeping up
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  • #96,423
  • Nov 7, 2008 9:04am Nov 7, 2008 9:04am
ADX on 15 bulish now.Ichimoku bearish,momentum bulish..We are testing 5850 again or ranging from now little.Since it is friday and closing time soon....

i am out of trades for sure.Weare still betwen 1 hr and 4 hr S/R line and that is bad place to start anything .very mixed signaks.will not gamble.

out for sure.Last short SL hit+1
  • #96,424
  • Nov 7, 2008 9:05am Nov 7, 2008 9:05am
Quoting Infinity
hammer guy got defeated this time around...

5820 if top of m15 channel
chart...
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Patience + Discipline - Greed = Success
  • #96,425
  • Nov 7, 2008 9:06am Nov 7, 2008 9:06am
Quoting Infinity
hammer guy got defeated this time around...

5820 if top of m15 channel
He'll be back to pound her ass! I'm off to lunch, my position is covered green, so no worries here. I'd like to come back to a pleasant surprise of 5600 area.
Just digging in the trenches like everyone else!
  • #96,426
  • Nov 7, 2008 9:09am Nov 7, 2008 9:09am
Quoting eohater
He'll be back to pound her ass! I'm off to lunch, my position is covered green, so no worries here. I'd like to come back to a pleasant surprise of 5600 area.
Enjoy your lunch bro... I am going to do the same... 5600 area would be nice after lunch...
Patience + Discipline - Greed = Success
  • #96,427
  • Nov 7, 2008 9:09am Nov 7, 2008 9:09am
Quoting eohater
He'll be back to pound her ass! I'm off to lunch, my position is covered green, so no worries here. I'd like to come back to a pleasant surprise of 5600 area.

If you come back after our President-elect speaks, you may get your wish!!!!

  • #96,428
  • Nov 7, 2008 9:18am Nov 7, 2008 9:18am
Dam it got stopped out for +10 pips off my short, oh well I think I'm done trading for the week, but I'll hang around and keep watching and learning. Am up about 300 pips for the week, but account is even with beginning of week, when I had disastrous play with too much per pip than my account could handle playing silly buggers (could have blown my account, but was brutal and cut losses not soon enough though), so have written proper trading plan and have learnt that MM is the key even if you are 120% certain the market is going to go where you think, just play with what you can afford. thank god I made it all back tho with proper MM this time so am very releived this week
please DON'T copy my trades I am still learning
  • #96,429
  • Nov 7, 2008 9:42am Nov 7, 2008 9:42am
Quoting ezmystic
so have written proper trading plan and have learnt that MM is the key even if you are 120% certain the market is going to go where you think, just play with what you can afford. thank god I made it all back tho with proper MM this time so am very releived this week
100% right!

MM is the key, you can have more loss then winner and still win!
If you rafine your entry, getting less drawdown possible, then you get on the winner side and will be able to add a little bit more on your position.

------------------

I'm far from a pro trader, but as you i'm learning whit pratice. Had blow one accont before and now i'm carefull about entry and mm.

Keep on good work!
  • #96,430
  • Nov 7, 2008 9:48am Nov 7, 2008 9:48am
Quoting Inzider
100% right!

MM is the key, you can have more loss then winner and still win!
If you rafine your entry, getting less drawdown possible, then you get on the winner side and will be able to add a little bit more on your position.

------------------

I'm far from a pro trader, but as you i'm learning whit pratice. Had blow one accont before and now i'm carefull about entry and mm.

Keep on good work!
yes i agree....mm is the most important thing without it u cant find success in this game
  • #96,431
  • Nov 7, 2008 9:56am Nov 7, 2008 9:56am
Quoting Inzider
100% right!

MM is the key, you can have more loss then winner and still win!
If you rafine your entry, getting less drawdown possible, then you get on the winner side and will be able to add a little bit more on your position.

------------------

I'm far from a pro trader, but as you i'm learning whit pratice. Had blow one accont before and now i'm carefull about entry and mm.

Keep on good work!
Cheers Bro,

My entries are getting better, but I didn't lock in profit and then though it would come back and before long I was in deep poop and had to be brutal as I would have blown it if I had waited for it to come back round.

Careful entries are key as well tho, I now wait allday if I have to for an entry
please DON'T copy my trades I am still learning
  • #96,432
  • Edited 10:37am Nov 7, 2008 10:14am | Edited 10:37am
Quoting ezmystic
Cheers Bro,

My entries are getting better, but I didn't lock in profit and then though it would come back and before long I was in deep poop and had to be brutal as I would have blown it if I had waited for it to come back round.

Careful entries are key as well tho, I now wait allday if I have to for an entry
i always find the hardest thing about getting the right entry is to sell or buy against the price action....nearly always..it takes a lot of nerve to be able to do this..something i havent been able to do properly
  • #96,433
  • Nov 7, 2008 10:18am Nov 7, 2008 10:18am
Quoting ezmystic
Cheers Bro,

My entries are getting better, but I didn't lock in profit and then though it would come back and before long I was in deep poop and had to be brutal as I would have blown it if I had waited for it to come back round.

Careful entries are key as well tho, I now wait allday if I have to for an entry
I do use an EA for SL and TS, if that can help you.

That way i don't need to manage those or i won't touch my SL because of emotion.

Its me.
  • #96,434
  • Nov 7, 2008 10:20am Nov 7, 2008 10:20am
Quoting nAVIN2007
i always find the hardest thing about getting the right entry is to sell or buy against the price action....nearly always..it takes a lot of nerve to be able to do this..something i have been able to do properly
i know, if market has moved 100 pips its really hard going against this, practice practice and more practice is needed until it is just a reaction
please DON'T copy my trades I am still learning
  • #96,435
  • Nov 7, 2008 10:22am Nov 7, 2008 10:22am
Back from lunch and I like where price is at. Let's see her go down further!
Just digging in the trenches like everyone else!
  • #96,436
  • Nov 7, 2008 10:25am Nov 7, 2008 10:25am
Quoting Inzider
I do use an EA for SL and TS, if that can help you.

That way i don't need to manage those or i won't touch my SL because of emotion.

Its me.
cheers for that, I normally get in roughly ok and lock in as soon as poss 30 pips or so, i am trying to close any losers quick now it was just that that particular trade had too much money on for my account and didn't want to lose it so thought I'd wait for it too come back down to a more managable loss and it just got worse. Just sucked it up and got brutal in the end which saved me lots, but then I was wounded and had to get confidence again to get back in.
please DON'T copy my trades I am still learning
  • #96,437
  • Nov 7, 2008 10:27am Nov 7, 2008 10:27am
Quoting eohater
Back from lunch and I like where price is at. Let's see her go down further!
it's looking good for you bro. I wonder what effect Obama will have on this. I'm just gonna sit and watch as I'm done for the week.
please DON'T copy my trades I am still learning
  • #96,438
  • Nov 7, 2008 10:30am Nov 7, 2008 10:30am
Quoting ezmystic
it's looking good for you bro. I wonder what effect Obama will have on this. I'm just gonna sit and watch as I'm done for the week.
That's a million dollar question. I'm hoping by him opening his mouth it will strengthen the $ and send her back down to where she belongs. I want to see 5725 get rejected on the 15m chart and send her back down.
Just digging in the trenches like everyone else!
  • #96,439
  • Nov 7, 2008 10:42am Nov 7, 2008 10:42am
Quoting eohater
Back from lunch and I like where price is at. Let's see her go down further!
....
Attached Image
Patience + Discipline - Greed = Success
  • #96,440
  • Nov 7, 2008 10:42am Nov 7, 2008 10:42am
i just funded my account back to 3k i hope i have learnt even to make money.

EO and a very few are the only people i know generally that dont have to worry so much about risk reward since he practically get it right on entry 95% of the time.
I find my biggest issue is when i get a profitable position i never hold the position to the point where it was = to the risk....then i get a loss and it wipes me out.......its such a emotion issue.....but now i realise and am going in on a game plan...if i can get over this ....then i should make corn


5 year of experience cant be bought overnight hey buddy...
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