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Cable Update (GBPUSD)

  • #101,821
  • Nov 27, 2008 6:07am Nov 27, 2008 6:07am
Quoting i.shawish
THANKS ALCANDO...BUT I DON`T KNOW WHY MY ENTRANCE IS BAD...ALSO AS I MENTIONED BEFOR DAYS I DON`T USE STOP LOSS BECAUSE I HATE THE RED BARS IN MY HESTORY...THE OTHER BAD THING IS MY CLOSING, I ENTERED BEFORE A WHILE SHORT IN 5480 AND CLOSED IT AT 5430!!! I DON`T KNOW WHATS UP TO ME
Have you tried sticking to following longer time frames like the 1 and 4 hr, if you havent then this should help to give you confidence of the direction of the trade, and help you stay in a winning trade longer. Its much easier to get spooked on short time frames
  • #101,822
  • Nov 27, 2008 6:09am Nov 27, 2008 6:09am
Quoting alcando
Thanks dude....


I don't get it. Care to share a chart at some point to explain? Sounds interesting...

BTW anyone else looking for a bounce on 5385?
  • #101,823
  • Nov 27, 2008 6:10am Nov 27, 2008 6:10am
Quoting i.shawish
THATS MY IDEA FOR NOW...AND YOU SHOULD WATCH IT

yur just entering without retrace in mind...like EO says market moves in both directions.....wait for the price to retrace then enter in the direction u want this way u can get reduce drawdown
  • #101,824
  • Nov 27, 2008 6:11am Nov 27, 2008 6:11am
Quoting Vourvoul


I don't get it. Care to share a chart at some point to explain? Sounds interesting...

BTW anyone else looking for a bounce on 5385?
I may close a short there but wont be looking for a long entry
  • #101,825
  • Nov 27, 2008 6:11am Nov 27, 2008 6:11am
Quoting PipLand
Have you tried sticking to following longer time frames like the 1 and 4 hr, if you havent then this should help to give you confidence of the direction of the trade, and help you stay in a winning trade longer. Its much easier to get spooked on short time frames
Fully aggree!
using the shorter time frames to just time the trades works so much better!
Keep It Simple Stupid
  • #101,826
  • Nov 27, 2008 6:11am Nov 27, 2008 6:11am
Quoting i.shawish
THANKS ALCANDO...BUT I DON`T KNOW WHY MY ENTRANCE IS BAD...ALSO AS I MENTIONED BEFOR DAYS I DON`T USE STOP LOSS BECAUSE I HATE THE RED BARS IN MY HESTORY...THE OTHER BAD THING IS MY CLOSING, I ENTERED BEFORE A WHILE SHORT IN 5480 AND CLOSED IT AT 5430!!! I DON`T KNOW WHATS UP TO ME
try using this brother. use it on 30m or 1h. use it wisely.
Attached File(s)
File Type: ex4 goldminer1.ex4   6 KB | 416 downloads


Attached File(s)
File Type: ex4 goldminer2.ex4   4 KB | 394 downloads
  • #101,827
  • Nov 27, 2008 6:17am Nov 27, 2008 6:17am
any one believe she will go back to test the high?
Keep It Simple Stupid
  • #101,828
  • Nov 27, 2008 6:19am Nov 27, 2008 6:19am
Quoting Alastair
any one believe she will go back to test the high?

yeah it looks like it will test the high again my short was closed
  • #101,829
  • Nov 27, 2008 6:25am Nov 27, 2008 6:25am
Quoting alcando
Thanks dude....
thanks bro!always known that but never really thought it thru
  • #101,830
  • Nov 27, 2008 6:29am Nov 27, 2008 6:29am
i think upside still not over.
  • #101,831
  • Nov 27, 2008 6:30am Nov 27, 2008 6:30am
Quoting i.shawish
Hay Guys I Have A Good News For You...i Don`t Know Whats Up, But Through This Week My Enteries Was Wonderfull!!! When I Enter Short It Goes Up For 100 Pips At Least, And When I Go Long It Goes Down For 100 Pips At Least...so I Will Post My Enteries To Go Against It And Get Profit For Sure...damit
Hic hic, so please tell me you are in long or short now, I will go the reverse direction to you. ha ha just joking.
but I think you should enter short now at 1.54 and wait untll the end of next week when GU is 1.45, sure that you will make about near 1000 pips. hic hic.
Blanchflower said that a ``downward spiral was in train"
Give me patience
  • #101,832
  • Nov 27, 2008 6:31am Nov 27, 2008 6:31am
Yes, I struggle with the confidence on the closes too. If I question whether its going to move further I often exit at the start of the bounce closest to the strongest resistance. I don't trade the same as the good traders here yet. I often exit at a strong resistance/support and and wait for the bounce. If the bounce is strong I feel it is better to not lose the pips and re-pay the 3 pip spread than have it go against me by 30pips.

Sometimes it does not return but once it has bounced I don't mind re-entering in the original direction when it turns, as long as it has not past my exit point+spread. Thats only at strong levels and times when I expect a strong bounce. It also means that I do not mind setting a stop at 25 from that new level as it is less than I would have lost in the first place. A 23fib correction is normal and so I play from there.

As for stops, if your entry is at a S&R level, fib or and you trust the trend and your analysis there is no need to lose more than 20-40 pips on a entry. I always use a stop and I believe it saves my butt many times..

Your exit was good earlier but if you saw it turn at the new 23 fib of the strong downtrend you could have re-entered and made more on the trade than just keeping it.



Quoting i.shawish
THANKS ALCANDO...BUT I DON`T KNOW WHY MY ENTRANCE IS BAD...ALSO AS I MENTIONED BEFOR DAYS I DON`T USE STOP LOSS BECAUSE I HATE THE RED BARS IN MY HESTORY...THE OTHER BAD THING IS MY CLOSING, I ENTERED BEFORE A WHILE SHORT IN 5480 AND CLOSED IT AT 5430!!! I DON`T KNOW WHATS UP TO ME
Ride the Bulls bearback!
  • #101,833
  • Nov 27, 2008 6:40am Nov 27, 2008 6:40am
Quoting moewenger
try using this brother. use it on 30m or 1h. use it wisely.
Attachment

Attachment
thanks alot...i think they must work on MT4. i will try them
what you get in the wind goes through the storms
  • #101,834
  • Nov 27, 2008 6:43am Nov 27, 2008 6:43am
Quoting Bullfx
Hic hic, so please tell me you are in long or short now, I will go the reverse direction to you. ha ha just joking.
but I think you should enter short now at 1.54 and wait untll the end of next week when GU is 1.45, sure that you will make about near 1000 pips. hic hic.
Blanchflower said that a ``downward spiral was in train"
the thing i trust it...that no body loos if he stay in safe place and wait, ever it takes alot time maby but at the end as the major trend not broken the profit will come...but the bad thing is thate i spend alot of time without trading just watching!!! until i got my profit...
what you get in the wind goes through the storms
  • #101,835
  • Nov 27, 2008 6:45am Nov 27, 2008 6:45am
Quoting alcando
Yes, I struggle with the confidence on the closes too. If I question whether its going to move further I often exit at the start of the bounce closest to the strongest resistance. I don't trade the same as the good traders here yet. I often exit at a strong resistance/support and and wait for the bounce. If the bounce is strong I feel it is better to not lose the pips and re-pay the 3 pip spread than have it go against me by 30pips.

Sometimes it does not return but once it has bounced I don't mind re-entering in the original direction when it...

thats usefull and i will do it in my managing
what you get in the wind goes through the storms
  • #101,836
  • Nov 27, 2008 6:47am Nov 27, 2008 6:47am
Happy Thanksgiving to my American friends....
Patience + Discipline - Greed = Success
  • #101,837
  • Nov 27, 2008 6:48am Nov 27, 2008 6:48am
Do you have these templates in *.tpl format?
Probability Professor
  • #101,838
  • Nov 27, 2008 6:50am Nov 27, 2008 6:50am
Quoting i.shawish
the thing i trust it...that no body loos if he stay in safe place and wait, ever it takes alot time maby but at the end as the major trend not broken the profit will come...but the bad thing is thate i spend alot of time without trading just watching!!! until i got my profit...
if u saw my trades back 2-3 months ago...my god i so picked the wrong directions...practically everytime.hence the nick nav indiactor

we all do it.....u have to learn to buy on support sell at resistance type thinking
  • #101,839
  • Nov 27, 2008 6:52am Nov 27, 2008 6:52am
Quoting i.shawish
the thing i trust it...that no body loos if he stay in safe place and wait, ever it takes alot time maby but at the end as the major trend not broken the profit will come...but the bad thing is thate i spend alot of time without trading just watching!!! until i got my profit...
This is how I trade. I wait for the price to come to me.

Sometimes it takes a whole day, it gets there and kicks me in the face. Like yesterday...

What matters is that you have a trading plan and stick to it. Let the trade come to you.

The price can be 200 pips away from your order and you know that it will eventually get there but don't trade that move cause it's against your trading principles. Frustrating at times but it pays off and that's what matters.

Overtrading is a disease. Some people do it really well and very profitably. Most don't!

So my advice is, patience...
  • #101,840
  • Nov 27, 2008 6:53am Nov 27, 2008 6:53am
Quoting Alastair
any one believe she will go back to test the high?
The possibility is there.
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