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Cable Update (GBPUSD)

  • #104,341
  • Dec 4, 2008 10:36am Dec 4, 2008 10:36am
Bro navin....hedging only give you more headaches
  • #104,342
  • Dec 4, 2008 10:37am Dec 4, 2008 10:37am
Quoting steelhead
Navin tell me you are not serious. Man you need some help my friend. Get away from it for a bit take a break. You are making terrible decisions. Not trying to be mean but honestly its the truth.

Im just shaking my head right now thinking about it. Walk away
I would have to agree on this!!! Navin, you need to quit taking these damn hedges. Losses are a part of this, it's nothing personal, it's just trading.
Just digging in the trenches like everyone else!
  • #104,343
  • Dec 4, 2008 10:38am Dec 4, 2008 10:38am
today is one hell of a ride. roller coaster
  • #104,344
  • Dec 4, 2008 10:40am Dec 4, 2008 10:40am
Quoting eohater
I would have to agree on this!!! Navin, you need to quit taking these damn hedges. Losses are a part of this, it's nothing personal, it's just trading.
i canceled the hedge and probably wiped all profit i made might even go into my 3k .i wont do it again
  • #104,345
  • Dec 4, 2008 10:41am Dec 4, 2008 10:41am
Quoting nAVIN2007
ass is in the hedge again...
nav, bro u need to develop a plan, told u b4, u got zero strategy, which means zero money management, stop chasing trades then hedging, u will not improve urself until u have an edge ....
Trading is 80% Emotional, 20% Technical
  • #104,346
  • Dec 4, 2008 10:41am Dec 4, 2008 10:41am
Quoting nAVIN2007
i canceled the hedge and probably wiped all profit i made might even go into my 3k .i wont do it again
I know it sucks to loss money, I really do! I've been there!!
Just digging in the trenches like everyone else!
  • #104,347
  • Dec 4, 2008 10:41am Dec 4, 2008 10:41am
Quoting fx local
same here! im long anyway looking to 4785 area, in decent profit stop...
Excellent trade!! I went long at 4654 on the retest of the broken channel.. I closed a bit early at 4755 but I just wanted 100 pips anyway because the position was heavy.. I am now watching how the h1 50sma and 62ema reacts..

Yo EO....
Attached Image
Patience + Discipline - Greed = Success
  • #104,348
  • Dec 4, 2008 10:42am Dec 4, 2008 10:42am
She is already above the daily pivot.
Let's see if she can break R1
  • #104,349
  • Dec 4, 2008 10:43am Dec 4, 2008 10:43am
Quoting Infinity
Excellent trade!! I went long at 4654 on the retest of the broken channel.. I closed a bit early at 4755 but I just wanted 100 pips anyway because the position was heavy.. I am now watching how the h1 50sma and 62ema reacts..

Yo EO....
That was a nice ride wasn't bro! I'm already in on the short at 4800 off the 62ema. I did enter early, but I could afford to with the bonus round I'm playing in today.
Just digging in the trenches like everyone else!
  • #104,350
  • Dec 4, 2008 10:43am Dec 4, 2008 10:43am
Quoting Infinity
Excellent trade!! I went long at 4654 on the retest of the broken channel.. I closed a bit early at 4755 but I just wanted 100 pips anyway because the position was heavy.. I am now watching how the h1 50sma and 62ema reacts..

Yo EO....
Your closing price is same as me bro
  • #104,351
  • Dec 4, 2008 10:43am Dec 4, 2008 10:43am
if EOHater is correct, should go south now :-)
  • #104,352
  • Dec 4, 2008 10:43am Dec 4, 2008 10:43am
Quoting gagakrimba
Bro navin....hedging only give you more headaches
hedging when used with no plan, is just an emotional response to the uncertainty of risk, if u cant accept risk u shouldnt be trading,
Trading is 80% Emotional, 20% Technical
  • #104,353
  • Dec 4, 2008 10:45am Dec 4, 2008 10:45am
Quoting Infinity
Excellent trade!! I went long at 4654 on the retest of the broken channel.. I closed a bit early at 4755 but I just wanted 100 pips anyway because the position was heavy.. I am now watching how the h1 50sma and 62ema reacts..

Yo EO....
thanks bro, ive covered the lot now, that 1hr 62ema!!
Trading is 80% Emotional, 20% Technical
  • #104,354
  • Dec 4, 2008 10:45am Dec 4, 2008 10:45am
Quoting mpurdy1973
if EOHater is correct, should go south now :-)
I dont think so.
Should test 1.4894 1st
  • #104,355
  • Dec 4, 2008 10:45am Dec 4, 2008 10:45am
lost today 85 pips, always because of wrong SL.
I shorted 795 sl was 815 hit by 1 pip and came down.

BAd
  • #104,356
  • Dec 4, 2008 10:46am Dec 4, 2008 10:46am
Quoting mpurdy1973
if EOHater is correct, should go south now :-)
Hey!! Don't blame me if your trade doesn't work out. I'm not the only one that plays the 1h 62ema. I am short myself from 4800 because I do trust it. We did just have a hell of a run up and when she moves that fast one way, she will usually go the other way just as fast. Other factors we have in our favor for this going back down: DOW is negative, Lunch time in the US so profit taking usually occurs. We'll see how she pans out. I wish everyone the best of luck with their trades.
Just digging in the trenches like everyone else!
  • #104,357
  • Dec 4, 2008 10:48am Dec 4, 2008 10:48am
Quoting fx local
hedging when used with no plan, is just an emotional response to the uncertainty of risk, if u cant accept risk u shouldnt be trading,
Totally agree - its dithering and its a rabbit trapped in car headlamps

I hedged my GBP in the bank at 2.04 using short selling on spreadbet platform when I knew I would be moving to US - but otherwise, its perpetuating a loss and sapping of one's morale

best just take the loss, get it over with, and start again
  • #104,358
  • Dec 4, 2008 10:48am Dec 4, 2008 10:48am
Quoting gagakrimba
I dont think so.
Should test 1.4894 1st
Very possible, I will let price action lead the way and tell me to get the hell out. I do like how the last 15m candle closed. If I wasn't already in the short, I would be either getting in now, or looking for the current working 15m candle to work up half the wick and then go short with tight SL. Trade what you see though.
Just digging in the trenches like everyone else!
  • #104,359
  • Dec 4, 2008 10:50am Dec 4, 2008 10:50am
the market chanels between 0000-0600 Zulu time, then breaks the chanel... see attachement for details
Attached Image (click to enlarge)
Click to Enlarge Name: gbpEarlyMorningBreakout.jpg Size: 101 KB
Attached File(s)
File Type: mq4 mpurdy_GBPtriggerTimes.mq4   7 KB | 330 downloads
  • #104,360
  • Dec 4, 2008 10:54am Dec 4, 2008 10:54am
Quoting eohater
Hey!! Don't blame me if your trade doesn't work out. I'm not the only one that plays the 1h 62ema. I am short myself from 4800 because I do trust it. We did just have a hell of a run up and when she moves that fast one way, she will usually go the other way just as fast. Other factors we have in our favor for this going back down: DOW is negative, Lunch time in the US so profit taking usually occurs. We'll see how she pans out. I wish everyone the best of luck with their trades.
np, i am one a few americans left that thinks you should take responsibility for your own actions

however, under the current USA conditions - if it goes bad... maybe i should try to get a bailout from taxpayers money
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