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Cable Update (GBPUSD)

  • #103,081
  • Dec 2, 2008 8:20am Dec 2, 2008 8:20am
Quoting Infinity
It's all about entry and money management bro.. Even though I am scaling into my positions, when I reach 2-4% thats it, no more adding.. my first position was small at 5027, my second was larger at the 1h 62ema.. I still have room for 1 more at the 4h 50ema depending on price action...

If I am wrong, I wont be crying because my loss would still not be significant based on my money management...
I love your strategy. Unfortunately again, my PO on H1/62 failed to fill, 10 pips above the highest action, becuase I am offline when she went there !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #103,082
  • Dec 2, 2008 8:21am Dec 2, 2008 8:21am
oups didnt know that my soldier can move the market instantly by 10 pips lol

target 57, or 21 or further... or even break even who knows
When life gives you lemons, make lemonade
  • #103,083
  • Dec 2, 2008 8:21am Dec 2, 2008 8:21am
Quoting Infinity
Our system is very similar bro... We trust our mas led by price action...

yes i see this...im starting to see and gain confidence in them..
  • #103,084
  • Dec 2, 2008 8:24am Dec 2, 2008 8:24am
Quoting nAVIN2007
yes i see this...im starting to see and gain confidence in them..
hey nav, someone said that my comments were silly or something like this... maybe they misunderstood... anyway, yes u have to use stop loss even with micro lots, rr should be >1.5 and u should not be adding shorts like i told u, but now u did the mistake and left the order to run, do u wish to close it now for -239128391283 or just add decent shorts after signals with good stop loss?
When life gives you lemons, make lemonade
  • #103,085
  • Dec 2, 2008 8:24am Dec 2, 2008 8:24am
Quoting micho
oups didnt know that my soldier can move the market instantly by 10 pips lol

target 57, or 21 or further... or even break even who knows
  • #103,086
  • Dec 2, 2008 8:26am Dec 2, 2008 8:26am
Quoting Vourvoul
heheh
When life gives you lemons, make lemonade
  • #103,087
  • Dec 2, 2008 8:27am Dec 2, 2008 8:27am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Personally going to wait a little longer before going short. Looks like dollar index needs to retrace a bit more IMO. 86.00 is the level I'd be looking at to see if it holds for buying dollar again. I could be wrong though...lol. Currently flat - not sure which way she's going. Seems attractive to sell these levels, but I think it could go a little higher.

EDIT: Maybe even a H&S - 4 hr chart. Confused - staying out for now.
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"Wishful thinking dies hard." Igor T.
  • #103,088
  • Dec 2, 2008 8:27am Dec 2, 2008 8:27am
maybe now it will go down so slowly... we still have room until 1.5280
When life gives you lemons, make lemonade
  • #103,089
  • Dec 2, 2008 8:30am Dec 2, 2008 8:30am
the question that rises here is: should go straight short now like most of us did or just wait longer for a signal on 1h chart as it should be... here fear and greed play.. and u start getting scared not wanting to miss the train if the signal came quick and went down like a rocket...
When life gives you lemons, make lemonade
  • #103,090
  • Dec 2, 2008 8:31am Dec 2, 2008 8:31am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting micho
maybe now it will go down so slowly... we still have room until 1.5280
Testing the DP now...possibly. May I ask what's at 5280?
"Wishful thinking dies hard." Igor T.
  • #103,091
  • Dec 2, 2008 8:33am Dec 2, 2008 8:33am
Quoting micho
hey nav, someone said that my comments were silly or something like this... maybe they misunderstood... anyway, yes u have to use stop loss even with micro lots, rr should be >1.5 and u should not be adding shorts like i told u, but now u did the mistake and left the order to run, do u wish to close it now for -239128391283 or just add decent shorts after signals with good stop loss?

yes i agree u have to have a stop loss but u also need a filter for i know if this retrace more than 75% of the move from hi to low then ....im out but till then i will give it everychance.....if it gets past this ema which lies with 50% retrace then the 61.8 is quite strong, lots of confluence with resistance..if that fails then im f**ked
  • #103,092
  • Dec 2, 2008 8:33am Dec 2, 2008 8:33am
Quoting FxChi
Testing the DP now...possibly. May I ask what's at 5280?
im working on this now since rsi daily and weekly <50 this is the last 4h down trend... 1.5280 is the 79% of it
Attached Image (click to enlarge)
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When life gives you lemons, make lemonade
  • #103,093
  • Dec 2, 2008 8:34am Dec 2, 2008 8:34am
Quoting nAVIN2007
yes i agree u have to have a stop loss but u also need a filter for i know if this retrace more than 75% of the move from hi to low then ....im out but till then i will give it everychance.....if it gets past this ema which lies with 50% retrace then the 61.8 is quite strong, lots of confluence with resistance..if that fails then im f**ked
lol come on man, 75% of which trend? you have to ask yourself this question? you cant just use one trend and base everything on it, u gotta be dynamic also
When life gives you lemons, make lemonade
  • #103,094
  • Dec 2, 2008 8:38am Dec 2, 2008 8:38am
Quoting Infinity
Our system is very similar bro... We trust our mas led by price action...
Hell yeah! My twin brother and I are on the same page!! Price action will always lead the way and our ma's give us targets for profit and entry.
Just digging in the trenches like everyone else!
  • #103,095
  • Dec 2, 2008 8:40am Dec 2, 2008 8:40am
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting micho
im working on this now since rsi daily and weekly <50 this is the last 4h down trend... 1.5280 is the 79% of it
Oh I see what you're saying now. Thanks. I'm staying on the sidelines - dollar index really looks like it wants to retrace a bit more to me. I also think when we see 4 hr hidden div. on cable 4 hr charts (you probably might want to watch a quicker RSI setting, maybe a 9, 10, or even 14 but no more than 14), and when that hits she's falling. Anyways I'm out going to the gym. Later and good luck all.
"Wishful thinking dies hard." Igor T.
  • #103,096
  • Dec 2, 2008 8:40am Dec 2, 2008 8:40am
Quoting micho
lol come on man, 75% of which trend? you have to ask yourself this question? you cant just use one trend and base everything on it, u gotta be dynamic also
the large swing on the 4hr...high and low
  • #103,097
  • Dec 2, 2008 8:41am Dec 2, 2008 8:41am
Quoting Infinity
I closed out my shorts at 4990.. We may test 62ema again...
Must be on the same page...4991 for me, good job!

HOLLA
  • #103,098
  • Dec 2, 2008 8:41am Dec 2, 2008 8:41am
Quoting nAVIN2007
yes i agree u have to have a stop loss but u also need a filter for i know if this retrace more than 75% of the move from hi to low then ....im out but till then i will give it everychance.....if it gets past this ema which lies with 50% retrace then the 61.8 is quite strong, lots of confluence with resistance..if that fails then im f**ked
I'm waiting for the 61.8 bus... (if it gets there) I'll stand in its way nav... no worries
  • #103,099
  • Dec 2, 2008 8:41am Dec 2, 2008 8:41am
my sl just got reached still wanna short any way
  • #103,100
  • Dec 2, 2008 8:42am Dec 2, 2008 8:42am
Quoting FxChi
Oh I see what you're saying now. Thanks. I'm staying on the sidelines - dollar index really looks like it wants to retrace a bit more to me. I also think when we see 4 hr hidden div. on cable 4 hr charts (you probably might want to watch a quicker RSI setting, maybe a 9, 10, or even 14 but no more than 14), and when that hits she's falling. Anyways I'm out going to the gym. Later and good luck all.
ciao
When life gives you lemons, make lemonade
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