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Cable Update (GBPUSD)

  • #106,801
  • Dec 15, 2008 3:00pm Dec 15, 2008 3:00pm
Quoting steelhead
Cause he wants serious drawdown and wants to buy in no mans land.
that's kind of what I was thinking.
Just digging in the trenches like everyone else!
  • #106,802
  • Dec 15, 2008 3:01pm Dec 15, 2008 3:01pm
Quoting steelhead
Cause he wants serious drawdown and wants to buy in no mans land.
Steel good observation. Timing is everything!
  • #106,803
  • Dec 15, 2008 3:01pm Dec 15, 2008 3:01pm
the way its all looking it looks as if eur and cable could reverse trend....market is giving good opportunities ..or death wishes..
  • #106,804
  • Dec 15, 2008 3:02pm Dec 15, 2008 3:02pm
Quoting ferndog
Waiting for an indication that it will stay long before i jump in. Right now the pound is long. Day is winding down. If i get in right now & this starts going down then i lose. I will wait until i can see a higher high & jump in a few pips above.
Do you normally trade this way in? If so, you must have some major drawdown on your account before getting into the green. Don't let me or anyone else stop you from your method, I'm just trying to understand. I will be looking for a clue to short her around that price and then go long back towards that price and higher once she tells me she's not going to make a lower low.
Just digging in the trenches like everyone else!
  • #106,805
  • Dec 15, 2008 3:02pm Dec 15, 2008 3:02pm
Quoting gagakrimba
You cant win all bro
I know i know but such a sweet ride
  • #106,806
  • Dec 15, 2008 3:09pm Dec 15, 2008 3:09pm
Quoting eohater
Do you normally trade this way in? If so, you must have some major drawdown on your account before getting into the green. Don't let me or anyone else stop you from your method, I'm just trying to understand. I will be looking for a clue to short her around that price and then go long back towards that price and higher once she tells me she's not going to make a lower low.
I use a big SL. I need to give my trade plenty of room to move in my direction. I just had a short trade in the USD/CAD were it went against me almost 300 pips which i didn't close & i ended up gaining 300 pips. This was last week by the way.GL on your trades
  • #106,807
  • Dec 15, 2008 3:12pm Dec 15, 2008 3:12pm
Quoting ferndog
I use a big SL. I need to give my trade plenty of room to move in my direction. I just had a short trade in the USD/CAD were it went against me almost 300 pips which i didn't close & i ended up gaining 300 pips. This was last week by the way.GL on your trades
WOW! That is a big SL!! If it works for you though, then by all means, don't let anyone change your method. I myself don't like that much of a drawdown. I'd rather short her from the higher high with tight SL and go long on the higher low and letting price action lead the way. It's working for you so keep up the good work!

Trade well!
EO
Just digging in the trenches like everyone else!
  • #106,808
  • Dec 15, 2008 3:13pm Dec 15, 2008 3:13pm
Im thinking about 1.5448 maybe as early as today.

lol
  • #106,809
  • Dec 15, 2008 3:14pm Dec 15, 2008 3:14pm
Quoting ferndog
I use a big SL. I need to give my trade plenty of room to move in my direction. I just had a short trade in the USD/CAD were it went against me almost 300 pips which i didn't close & i ended up gaining 300 pips. This was last week by the way.GL on your trades
If it went against you 300 pips, why not make money both ways........not very good trading......imho.
  • #106,810
  • Dec 15, 2008 3:16pm Dec 15, 2008 3:16pm
Quoting ferndog
I use a big SL. I need to give my trade plenty of room to move in my direction. I just had a short trade in the USD/CAD were it went against me almost 300 pips which i didn't close & i ended up gaining 300 pips. This was last week by the way.GL on your trades
i agree with eohater what a shock. Think though if you would have timed the trade better instead of 300 pips you could have had 500 or so.

If the entry was better you would not have experienced large drawdown.
  • #106,811
  • Dec 15, 2008 3:17pm Dec 15, 2008 3:17pm
Quoting eohater
Do you normally trade this way in? If so, you must have some major drawdown on your account before getting into the green. Don't let me or anyone else stop you from your method, I'm just trying to understand. I will be looking for a clue to short her around that price and then go long back towards that price and higher once she tells me she's not going to make a lower low.
Like right now i am short USD/CHF. I got in at 1.1750 so up now over +150 pips. EUR/CHF got in on a buy at 1.5600. Up now +275 pips. I don't know if you guys just like to scalp or close out positions in an hour or in a day but i leave my trades open for days to give it enough room. Peace
  • #106,812
  • Dec 15, 2008 3:20pm Dec 15, 2008 3:20pm
Quoting ferndog
Like right now i am short USD/CHF. I got in at 1.1750 so up now over +150 pips. EUR/CHF got in on a buy at 1.5600. Up now +275 pips. I don't know if you guys just like to scalp or close out positions in an hour or in a day but i leave my trades open for days to give it enough room. Peace
on usd/chf where was yur Stop loss>?
  • #106,813
  • Dec 15, 2008 3:20pm Dec 15, 2008 3:20pm
Entered another long @ 1.5300
  • #106,814
  • Dec 15, 2008 3:20pm Dec 15, 2008 3:20pm
yo guys im back so where do you think this beast is going
When life gives you lemons, make lemonade
  • #106,815
  • Dec 15, 2008 3:21pm Dec 15, 2008 3:21pm
Quoting ferndog
Like right now i am short USD/CHF. I got in at 1.1750 so up now over +150 pips. EUR/CHF got in on a buy at 1.5600. Up now +275 pips. I don't know if you guys just like to scalp or close out positions in an hour or in a day but i leave my trades open for days to give it enough room. Peace
I dont sleep to good with positions opening so I try to close them before sleeping for health reasons
  • #106,816
  • Dec 15, 2008 3:21pm Dec 15, 2008 3:21pm
Quoting micho
yo guys im back so where do you think this beast is going
Im thinking about 1.5448
  • #106,817
  • Dec 15, 2008 3:22pm Dec 15, 2008 3:22pm
Quoting ferndog
Like right now i am short USD/CHF. I got in at 1.1750 so up now over +150 pips. EUR/CHF got in on a buy at 1.5600. Up now +275 pips. I don't know if you guys just like to scalp or close out positions in an hour or in a day but i leave my trades open for days to give it enough room. Peace
I dont scalp, but I also wont knock it....there is a plan that if you made 20 pips a day, you would be making over $80,000 a month in just over 6 months by compounding your money.......don't try and dispute this with me please......I have a Master's in the only and only true language.......MATHEMATICS.
  • #106,818
  • Dec 15, 2008 3:23pm Dec 15, 2008 3:23pm
Quoting ferndog
Like right now i am short USD/CHF. I got in at 1.1750 so up now over +150 pips. EUR/CHF got in on a buy at 1.5600. Up now +275 pips. I don't know if you guys just like to scalp or close out positions in an hour or in a day but i leave my trades open for days to give it enough room. Peace
I'm mostly and intraday trader myself and I only trade cable. For example, since the open of the London session, I've made 423 pips today with very little drawdown on all my trades. If you system is working for you though, best of luck. I like to see green pippage as soon as possible myself without having to wait days for my trade to come back green. I take a hands on approach to my trades and manage the moves as they happen.
Just digging in the trenches like everyone else!
  • #106,819
  • Dec 15, 2008 3:24pm Dec 15, 2008 3:24pm
Quoting AmeriTrini
I dont scalp, but I also wont knock it....there is a plan that if you made 20 pips a day, you would be making over $80,000 a month in just over 6 months by compounding your money.......don't try and dispute this with me please......I have a Master's in the only and only true language.......MATHEMATICS.
THIS IS TRUE!! The 20 pip/day plan is for real with compounding your money!!
Just digging in the trenches like everyone else!
  • #106,820
  • Dec 15, 2008 3:24pm Dec 15, 2008 3:24pm
Quoting AmeriTrini
I dont scalp, but I also wont knock it....there is a plan that if you made 20 pips a day, you would be making over $80,000 a month in just over 6 months by compounding your money.......don't try and dispute this with me please......I have a Master's in the only and only true language.......MATHEMATICS.
yeah when i was scalping cable unintentially the other day cause it kept stalling i racked up loads of pips couldnt believe it. I should scalp more often but i find slightly longer positions less stressfull
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