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Cable Update (GBPUSD)

  • #100,261
  • Nov 21, 2008 9:35am Nov 21, 2008 9:35am
I'm long a@ 1.4800.
Anyone care to follow
  • #100,262
  • Nov 21, 2008 9:35am Nov 21, 2008 9:35am
Quoting micho
i have a question, who is a full time or dedicated trader here?
hands up! ive been full time since march 07! still hanging on in there! would find it very difficult to back to a work environment for sure,

been a very steep learning curve... something I would highly recommend if really love the markets...

made alot of sacrifices in the meantime, found that if u can steady the intial turbalances and learn money management you have a chance
Trading is 80% Emotional, 20% Technical
  • #100,263
  • Nov 21, 2008 9:35am Nov 21, 2008 9:35am
Quoting eohater
Look at your 15m chart and the candle that charged 4700 and closed with a big ass wick. The following candle you should have closed out your short and went long. Very little draw down, you made money down, now make it on the way back up too.

Good trade on your short bro! I lost some of my profit from my long this morning because I added at 4909 to my long position from 4750 and got stopped out at 4850.
its really quite a tricky situation......it went above the high yesterday and now right by the low......the market i think is now dancing around the support and resistance areas....i closed out just because being friday no way i will hold over the weekend..

but to me this is 100% going down according to my thought procress...if by chance it consolidates then we are very close to a reversal
Attached Image (click to enlarge)
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  • #100,264
  • Nov 21, 2008 9:40am Nov 21, 2008 9:40am
Quoting gagakrimba
I'm long a@ 1.4800.
Anyone care to follow
care or dare??
  • #100,265
  • Nov 21, 2008 9:41am Nov 21, 2008 9:41am
Quoting micho
hehe
hi micho its me jake,ave not been trading 4 a week now,just resumed now,it surely looks like a h&s in 15 min chart.
  • #100,266
  • Nov 21, 2008 9:46am Nov 21, 2008 9:46am
Quoting fx local
hands up! ive been full time since march 07! still hanging on in there! would find it very difficult to back to a work environment for sure,

been a very steep learning curve... something I would highly recommend if really love the markets...

made alot of sacrifices in the meantime, found that if u can steady the intial turbalances and learn money management you have a chance

Thats great to hear, so there is hope to do this full time then
  • #100,267
  • Nov 21, 2008 9:50am Nov 21, 2008 9:50am
Quoting nAVIN2007
its really quite a tricky situation......it went above the high yesterday and now right by the low......the market i think is now dancing around the support and resistance areas....i closed out just because being friday no way i will hold over the weekend..

but to me this is 100% going down according to my thought procress...if by chance it consolidates then we are very close to a reversal

could still be going down but I dont think there is enough momentum and your right not to hold this one over the weekend, reckon theres gonna be BIG Gap!!
  • #100,268
  • Nov 21, 2008 9:51am Nov 21, 2008 9:51am
Quoting gagakrimba
I'm long a@ 1.4800.
Anyone care to follow
Not a good entry... the previous 1 hour bullish pin has already played out, we have not cleared the 10ema on m15, clear shampoo on m15 and also 4h showing plenty room for down.. I hope you got a chance to set your sl in positive..

I wouldn't be surprised to see 1.4650-60 before the day closes...
Patience + Discipline - Greed = Success
  • #100,269
  • Nov 21, 2008 9:52am Nov 21, 2008 9:52am
Quoting fx local
hands up! ive been full time since march 07! still hanging on in there! would find it very difficult to back to a work environment for sure,

been a very steep learning curve... something I would highly recommend if really love the markets...

made alot of sacrifices in the meantime, found that if u can steady the intial turbalances and learn money management you have a chance
would be an adventure to quit the job for forex but who knows
When life gives you lemons, make lemonade
  • #100,270
  • Nov 21, 2008 9:53am Nov 21, 2008 9:53am
Quoting PipLand
could still be going down but I dont think there is enough momentum and your right not to hold this one over the weekend, reckon theres gonna be BIG Gap!!
yep i cant take the chance my broker opens at 11pm on sunday.....so i cant even play the gaps and anything can happen...specailly idf it gaps over the stop loss
  • #100,271
  • Nov 21, 2008 9:55am Nov 21, 2008 9:55am
Take a look at this h4 chart. Note the rejection after touching the 5/10 sma on the retest....

Also check out the oscillator...
Attached Image (click to enlarge)
Click to Enlarge Name: h4.gif Size: 24 KB
Patience + Discipline - Greed = Success
  • #100,272
  • Nov 21, 2008 10:08am Nov 21, 2008 10:08am
Quoting PipLand
could still be going down but I dont think there is enough momentum and your right not to hold this one over the weekend, reckon theres gonna be BIG Gap!!
My broker send me an email today to notify that they reduce 5 times the leverage for the open positions for the weekend. They are like rats before the ship sinks, have a feeling of something bad for them. Maybe afraid of losing money due gap.
  • #100,273
  • Nov 21, 2008 10:10am Nov 21, 2008 10:10am
only goes to show how good gurps must be to give trade full time and make a living from it.....
the way my job is going i might be in the same boat only not at choice...

last week i lost 400 pip on micro account which was a about £18 loss now its £6....clawing my way back

so this week i must have made about 260 pips or something..
  • #100,274
  • Nov 21, 2008 10:16am Nov 21, 2008 10:16am
Quoting vorschlag
My broker send me an email today to notify that they reduce 5 times the leverage for the open positions for the weekend. They are like rats before the ship sinks, have a feeling of something bad for them. Maybe afraid of losing money due gap.

Yeah, you can bet your life its not for your benefit!
  • #100,275
  • Nov 21, 2008 10:21am Nov 21, 2008 10:21am
Quoting vorschlag
My broker send me an email today to notify that they reduce 5 times the leverage for the open positions for the weekend. They are like rats before the ship sinks, have a feeling of something bad for them. Maybe afraid of losing money due gap.
tell yur broker they suck!
  • #100,276
  • Nov 21, 2008 10:23am Nov 21, 2008 10:23am
Quoting nAVIN2007
only goes to show how good gurps must be to give trade full time and make a living from it.....
the way my job is going i might be in the same boat only not at choice...

last week i lost 400 pip on micro account which was a about £18 loss now its £6....clawing my way back

so this week i must have made about 260 pips or something..
what was your entry price today and where was your stoploss?
When life gives you lemons, make lemonade
  • #100,277
  • Nov 21, 2008 10:24am Nov 21, 2008 10:24am
Quoting nAVIN2007
i closed it just incase ....1hr bullish candle looks a bit worrying....still 100+ pips not bad..

might sell higher up if it goes there
hey nav, well pleased for you on that 100ish pip profit, now you got to do it everyday and you can say goodbye to that job! I wish i could say the same, but i will get there.
please DON'T copy my trades I am still learning
  • #100,278
  • Nov 21, 2008 10:26am Nov 21, 2008 10:26am
Quoting PipLand
Yeah, you can bet your life its not for your benefit!
lol.. but they didnt do it before. so it's a sign
  • #100,279
  • Nov 21, 2008 10:33am Nov 21, 2008 10:33am
Quoting micho
what was your entry price today and where was your stoploss?
i messed up there too...my stop was 200 pips away from entry target was a new low.....i really thought today it was gonna blow right down..

u notice we were above the 62 ema but this time i didnt even see it as a obstacle i was quite sure it would fall...i gotta work on staying in the trades

next time i will just place on BE and even if it comes back at least it wasnt a loss... still this week is a improvement
Attached Image (click to enlarge)
Click to Enlarge Name: xample.JPG Size: 265 KB
  • #100,280
  • Nov 21, 2008 10:35am Nov 21, 2008 10:35am
Quoting vorschlag
lol.. but they didnt do it before. so it's a sign
yeah definatly a sign. They are probably noticing some extreme positioning in one direction and getting scared lol
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