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Cable Update (GBPUSD)

  • #104,381
  • Dec 4, 2008 11:21am Dec 4, 2008 11:21am
Quoting Beeps
well at least you're still up Navin,

you gave your time, but you learned a few moves not to make, make sure you write them down for later.

i try to remember to check my mistakes book every day, tho' i'm finding that the more it hurts, the better i learn it.

why not take a break & work on your plan.
i just took a the wrong signal ....and went in 0.02 instead of 0.01.....bad trade, i gave it a chance at 74 to retrace and the minute i knew i was wrong i cancelled all positions, just a bad trade decision thats all ...

dailly was bearish, 4hr was up and lower time frame were down were down...
the hedge was a good idea as i caught the move up only thing is i canceled where i thought it might have retraced and lost a lot of pips there...that was the big mistake
  • #104,382
  • Dec 4, 2008 11:23am Dec 4, 2008 11:23am
Quoting eohater
My brother Turtle and I were talking about this last night. I agree, everyone should check their trades and what went wrong after the dust has settled. Emotions can get in the way when you just lost money and you try and figure out the mistake and look for a new entry at the same time. Losses happen and they suck, but it's inevitable. We all loose money, we just need to control our losses and let our winners run.

Trade well everyone!
That's excellent advice bro! We have to learn from our mistakes in this game and as soon as possible too. If we continue to do the same things over and over, the results will be the same..

I just got stopped out at be on my short btw... I have to step out so I will wait for a new ride...
Patience + Discipline - Greed = Success
  • #104,383
  • Dec 4, 2008 11:24am Dec 4, 2008 11:24am
Quoting micho
ugly cursed day!!

Sorry to hear that , this has been an amazing day for me. I completely robbed the footsie. Im going out to celebrate
  • #104,384
  • Dec 4, 2008 11:27am Dec 4, 2008 11:27am
3 times for god's sake she came up and fetched me!!!!!!!!!!!!!!!!
When life gives you lemons, make lemonade
  • #104,385
  • Dec 4, 2008 11:29am Dec 4, 2008 11:29am
Quoting mpurdy1973
sorry ZULU is a USA millary term for GMT :-)

e.g. 1712 ZULU time (seventeen hundred twelve hours zulu time) = 5:12 pm GMT
ah I see - I am off to Greenwich in July to stand on Bradley's meridian - left foot in the eastern hemisphere and right foot in the west and all that...
I suppose all the Zulus have watches now, though I find that mental picture quite surreal

Anyway, DOW is going down and euro/gbp are going up ! now thats a change...
something is afoot
  • #104,386
  • Dec 4, 2008 11:32am Dec 4, 2008 11:32am
Quoting allserene
ah I see - I am off to Greenwich in July to stand on Bradley's meridian - left foot in the eastern hemisphere and right foot in the west and all that...
I suppose all the Zulus have watches now, though I find that mental picture quite surreal

Anyway, DOW is going down and euro/gbp are going up ! now thats a change...
something is afoot
it hit my stop loss first time in 15 sell trades
When life gives you lemons, make lemonade
  • #104,387
  • Dec 4, 2008 11:32am Dec 4, 2008 11:32am
Quoting micho
3 times for god's sake she came up and fetched me!!!!!!!!!!!!!!!!
I know its annoying waiting for this thing to fall! i dont wanna go out until it does dunno where to TP yet?
  • #104,388
  • Dec 4, 2008 11:35am Dec 4, 2008 11:35am
Quoting micho
3 times for god's sake she came up and fetched me!!!!!!!!!!!!!!!!
bad luck Micho,

i get a lot of that,

sometimes she chases me all the way out into the bloody garden to get me...?

i tend to stop at three bad goes & come back tomorrow..
  • #104,389
  • Dec 4, 2008 11:36am Dec 4, 2008 11:36am
Quoting micho
it hit my stop loss first time in 15 sell trades
superb ! keep it up but watch for em switching the rules
  • #104,390
  • Dec 4, 2008 11:38am Dec 4, 2008 11:38am
I love all the fear and uncertainty because any big moves are bound to reverse

There is no confidence in anything - luvvly jubbly !

I just go contra after any big move in any direction
  • #104,391
  • Dec 4, 2008 11:38am Dec 4, 2008 11:38am
Quoting Beeps
bad luck Micho,

i get a lot of that,

sometimes she chases me all the way out into the bloody garden to get me...?

i tend to stop at three bad goes & come back tomorrow..
i was +80 then i got BE then i sold the top and was +80 then she got me BE then i sold the top again and was +60 then she caught my stop loss -31!!!!! whats this?!?!?!?!?!?
When life gives you lemons, make lemonade
  • #104,392
  • Dec 4, 2008 11:40am Dec 4, 2008 11:40am
my mate who works for one of the largest interbank dealers as a trader said that this move was a short squeeze and covering of positions opened up earlier as 1.5% cut was expected by some so if this is indeed whats happening it should reverse - we'll see.
  • #104,393
  • Dec 4, 2008 11:40am Dec 4, 2008 11:40am
Quoting steelhead
Dont go long here. Dont do it.
I shorted this girl 4 times this morning without any follow through..

To me that is the best indicator that it is not ready to go down and a long is in order.

Don't worry...went long on the break of resistance at 4700 and closed for +80

Jumped on the south bound train at 4796. 62 ema on the 1h

I still love you man...i trade a lot like you!
  • #104,394
  • Dec 4, 2008 11:41am Dec 4, 2008 11:41am
Quoting chrispang81
today is one hell of a ride. roller coaster
welcome to the Jungle mate,

crazy days so far this week, month, quarter...

i'm new too, having fun today....so far, but i find that can easily change very quickly, depending on who's driving the bus, if you get my drift.

good luck in your trades
  • #104,395
  • Dec 4, 2008 11:44am Dec 4, 2008 11:44am
how about shorting 0.1 lots with 200 pip stop... if it move 500 pips, you get the same profit as shorting 1.0 lots with a 20 pip stop and a 50 pip move....

1) peace of mind
2) better chance of not having the stop hit
3) same profit :-)


if you do this everytime the h1 / 62 hit a retracement and pyramid you can make a lot of profit, with little or no lose


any thoughts?
  • #104,396
  • Dec 4, 2008 11:47am Dec 4, 2008 11:47am
its prob gonna make a H&S 4664 then 4710 then 1.3000
  • #104,397
  • Dec 4, 2008 11:51am Dec 4, 2008 11:51am
Am Shortin This Bicth Now
  • #104,398
  • Dec 4, 2008 11:53am Dec 4, 2008 11:53am
Quoting enoh james a
Am Shortin This Bicth Now
kind of late, but should be a few pips still left be carefull
  • #104,399
  • Dec 4, 2008 11:54am Dec 4, 2008 11:54am
Quoting Infinity
That's excellent advice bro! We have to learn from our mistakes in this game and as soon as possible too. If we continue to do the same things over and over, the results will be the same..

I just got stopped out at be on my short btw... I have to step out so I will wait for a new ride...
Yes it is.....

I was making lots of mistakes my first year and a half.

Printing off the charts daily lets me sit back and see how the day went, I look at my entries and exits. See where I made mistakes, and also look at my good trades. :nerd:

Patience and discipline is the key!!!

HOLLA
  • #104,400
  • Dec 4, 2008 11:56am Dec 4, 2008 11:56am
Quoting lexazver
my mate who works for one of the largest interbank dealers as a trader said that this move was a short squeeze and covering of positions opened up earlier as 1.5% cut was expected by some so if this is indeed whats happening it should reverse - we'll see.
I love having my shorts squeezed
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