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Cable Update (GBPUSD)

  • #104,441
  • Dec 4, 2008 10:50am Dec 4, 2008 10:50am
Quoting nwsuccess
Yes, that would an insane place to short. With that being said, I can only imagine a herd traders will do just that. I will be looking for longs around 1.46-1.45ish if the conditions are appropriate when and if price goes there. In order to short it, I am watching 1.48-1.49.
My mentor strikes again. Well done on the shorts at 4800 and longs at 4500. You truly are Master Yoda
  • #104,442
  • Dec 4, 2008 10:53am Dec 4, 2008 10:53am
Quoting steelhead
Not to be rude but any information that is gleaned from a 5 minute chart should not lead you to believe that a large breakout is about to accur. I mean seriously a large breakout on a 5 minute chart is 20 pips.

Focus on the Big Picture
Not to be rude but it depends on how many pips you are going for.

From what I have read today on this thread most people have just sold/bought on a whim - making up any level they like.

Not to be rude.
  • #104,443
  • Dec 4, 2008 10:53am Dec 4, 2008 10:53am
Quoting steelhead
No I didnt get it.
steelhead,
Sent it again
  • #104,444
  • Dec 4, 2008 10:53am Dec 4, 2008 10:53am
Quoting micho
im back... its been a flat week so far for me...

i contact hotspot fx, anybody knows about them?
heard from some people that they are one of the better brokers.
  • #104,445
  • Dec 4, 2008 10:54am Dec 4, 2008 10:54am
Perftect - just made my 20 pips for the day.
  • #104,446
  • Dec 4, 2008 10:54am Dec 4, 2008 10:54am
Quoting mpurdy1973
EOHater,

i have the H1 / 62 ema down good (it worked 2 times so far for me)

what other trades to u do?

on the 5m, 15, and h1?
I don't trade anything under 15m. Please feel free to check my journal in my signature for the different setups I look for an play off of. Please feel free to post questions on my journal.

Glad the 62ema is working good for you.

EO
Just digging in the trenches like everyone else!
  • #104,447
  • Dec 4, 2008 10:57am Dec 4, 2008 10:57am
Quoting eohater
I don't mean to be a smart ass, but look at your 15m chart and the price level of 4720. You can see the support that is there.
thats why i exit at 20 level because it usually is good support level but just looking at what happened around that level shows that someone is loading up there.
  • #104,448
  • Dec 4, 2008 10:58am Dec 4, 2008 10:58am
Quoting micho
hhey man, 0.1 only

dont worry buddy ..u will get it back! ..this is just a hectic week to trrade..
  • #104,449
  • Dec 4, 2008 10:59am Dec 4, 2008 10:59am
Quoting ACartwright
Not to be rude but it depends on how many pips you are going for.

From what I have read today on this thread most people have just sold/bought on a whim - making up any level they like.

Not to be rude.

.....hmmmm....all the trades I've taken in the past day have had no more of a draw down of 15 pips on them and I've made over 580 pips today on only 4 trades....so I will excuse myself from the most.

But, to address your breakout on the 5m chart. I agree that it all depends on the # of pips your looking for. If your making your pips, then good! Keep up the hard work!
Just digging in the trenches like everyone else!
  • #104,450
  • Dec 4, 2008 11:00am Dec 4, 2008 11:00am
Quoting nAVIN2007
be carefull here cable is looking to give a bullish pin on dailly.
Not a tragedy....

  • #104,451
  • Dec 4, 2008 11:04am Dec 4, 2008 11:04am
Quoting eohater
.....hmmmm....all the trades I've taken in the past day have had no more of a draw down of 15 pips on them and I've made over 580 pips today on only 4 trades....so I will excuse myself from the most.

But, to address your breakout on the 5m chart. I agree that it all depends on the # of pips your looking for. If your making your pips, then good! Keep up the hard work!
Hi eohater,

I was refering to others on this thread - not my intention to cause offence.

Congrats on the pips.

It has been a few mad days.

Might as well make hay while its shining.
  • #104,452
  • Dec 4, 2008 11:05am Dec 4, 2008 11:05am
Quoting eohater
.....hmmmm....all the trades I've taken in the past day have had no more of a draw down of 15 pips on them and I've made over 580 pips today on only 4 trades....so I will excuse myself from the most.

But, to address your breakout on the 5m chart. I agree that it all depends on the # of pips your looking for. If your making your pips, then good! Keep up the hard work!
As a mtter of interest - do you simply use s/r?
  • #104,453
  • Dec 4, 2008 11:06am Dec 4, 2008 11:06am
Quoting eohater
.....hmmmm....all the trades I've taken in the past day have had no more of a draw down of 15 pips on them and I've made over 580 pips today on only 4 trades....so I will excuse myself from the most.

But, to address your breakout on the 5m chart. I agree that it all depends on the # of pips your looking for. If your making your pips, then good! Keep up the hard work!
good to know that is possible..i guess my stops are to damn large then..as well as my hedging tactics
  • #104,454
  • Dec 4, 2008 11:10am Dec 4, 2008 11:10am
It seems that almost all the brokers will be the same when it comes to deposits & withdrawal. Easy deposits by credit/debit card but hard to withdraw. All the same reason. That is WE CANT WITHDRAW MORE THAN THE INITIAL DEPOSITS.

But this rules apply only for credit/debit card transaction. There should be no problem if we're using wire transfer. Which it will charge around $40 per transfers.

The other reasons why this is only occured with the credit/debit card is because many of client's local banks are not supported under the CFT(Combatting Financial of Terrorism) programme which this rule existed since the September 11, 2001.

My advice to newbie's is that we must use wire transfer for deposits & withdrawal. It's good because in every transaction it will be stored in our local's bank history. This is something that cannot be deleted.

TRADE WELL!!
  • #104,455
  • Dec 4, 2008 11:10am Dec 4, 2008 11:10am
Quoting ACartwright
As a mtter of interest - do you simply use s/r?
No offense taken bro! I do understand what your saying about people just throwing out calls that don't have a substance. Thus why you need to treat this thread as an outlet and not an indicator of your trades. Trade what you see.

I use more than just simple s/r. I use a combination of MA's, candle patterns and fibs (higher time frames), and channels. I combine all of them together. I enter most of my trades off the 15m chart, but I do enter off the 1h as well and confluence with the 4h chart. I'm having mental issues with the 4h chart lately. Not everyone's 4h candle closes and opens at the same time. Feel free to check out my journal in my signature. Your welcome anytime to ask questions or post insights that you might have.
Just digging in the trenches like everyone else!
  • #104,456
  • Dec 4, 2008 11:13am Dec 4, 2008 11:13am
Quoting nAVIN2007
good to know that is possible..i guess my stops are to damn large then..as well as my hedging tactics
It is possible bro! You can do this. Do me a favor though and go back over your trades and figure out where you f*cked up at. It's almost like you need to do the opposite of what your thinking. If you think it's going farther long, maybe you need to go short and vice versa. I don't know bro, but I want to see you succeed.
Just digging in the trenches like everyone else!
  • #104,457
  • Dec 4, 2008 11:14am Dec 4, 2008 11:14am
Quoting nAVIN2007
dont worry buddy ..u will get it back! ..this is just a hectic week to trrade..
i got them back already.... but i could have made some profits instead of seeing it hitting my be all the time
When life gives you lemons, make lemonade
  • #104,458
  • Dec 4, 2008 11:15am Dec 4, 2008 11:15am
please all, anybody has any idea about GFT TRADING? PLEASE!
When life gives you lemons, make lemonade
  • #104,459
  • Dec 4, 2008 11:17am Dec 4, 2008 11:17am
Quoting Vourvoul
Not a tragedy....

it qould be quite the opposite i hope pound rallies like crazy because its not fun having your own currency at such low leels especially if going abroad.
  • #104,460
  • Dec 4, 2008 11:17am Dec 4, 2008 11:17am
Interesting that no one picked up on my praiseing my mentor. The real guru of the forex market i owe all i know to him.

Thanks my friend your guidence was heaven sent. Have never looked back since.
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