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Cable Update (GBPUSD)

  • #107,401
  • Dec 17, 2008 1:50am Dec 17, 2008 1:50am
Quoting mpurdy1973
i agree not a good place to short... short on the rallies... however, i think we have seen the high for the week... i got a short at 1.5700.... so far so good :-)
I meant at this level bro.
At 1.5700 you are already in 100++ green
  • #107,402
  • Dec 17, 2008 1:52am Dec 17, 2008 1:52am
Quoting alcando
That was a great level for a short. Not much question of a loss and the only question would be when to take profit. Great sell. Wish I had got in then. The 15530-60 area is a real toughie and has been used a lot in the past so I see it being used again for buyers. Either way you have great profit potential.

lol I am still short haha....how do you know how far my analsysis is ...as well as how deep of a move am I looking ...as well a how long term am I looking?
  • #107,403
  • Dec 17, 2008 1:53am Dec 17, 2008 1:53am
this a very fierce war between short and long, it scare me.
  • #107,404
  • Dec 17, 2008 1:53am Dec 17, 2008 1:53am
Quoting Vourvoul
Hey... I thought you went to sleep!

i did, but now i am up :-) got to get things done early today before the baby wakes up!
  • #107,405
  • Dec 17, 2008 1:56am Dec 17, 2008 1:56am
All of you scalpers should go long and hold for a few days with targets at 1.66 to 1.7. You'll be happy you did and thank yourselves for changing you fear strategy...........Good luck
  • #107,406
  • Dec 17, 2008 1:58am Dec 17, 2008 1:58am
Quoting alcando
That was a great level for a short. Not much question of a loss and the only question would be when to take profit. Great sell. Wish I had got in then. The 15530-60 area is a real toughie and has been used a lot in the past so I see it being used again for buyers. Either way you have great profit potential.

i plan on holding till friday... this market is too overbought... and above high of the range... i have another sell limit at 5800 in case of a spike by eager bulls :-)
  • #107,407
  • Dec 17, 2008 2:03am Dec 17, 2008 2:03am
Quoting gagakrimba
I meant at this level bro.
At 1.5700 you are already in 100++ green

yep, but i also have two other short that are lower... so overall i am down some pips :-(

however i am also short the eur /jpy and eur / usd... which balance out... in the last hour my overall net pips went from -100 to +400 .... right now i am -55
  • #107,408
  • Dec 17, 2008 2:04am Dec 17, 2008 2:04am
Quoting mpurdy1973
i plan on holding till friday... this market is too overbought... and above high of the range... i have another sell limit at 5800 in case of a spike by eager bulls :-)
That 1h fast stoch looks great for following the trend in a bullish manner through the day. If it breaks then overbought doesn't matter and the pair will run.
  • #107,409
  • Dec 17, 2008 2:07am Dec 17, 2008 2:07am
Quoting Shermenator
Sell stop

1.5578

Attachment
Of course, If it go through there, then it would fall freely as a brick.
yesterday I said it up and it was, today I think it will fall don't go against trend.
An interesting thing that, when you look back Gbp/Usd chart of December last year, you will see GU was 2.0700 at beginning of month and at the end of month it was 1.9700, loosing about 1000 pips
I don't mean this would be the same but just for some referrence .
Give me patience
  • #107,410
  • Dec 17, 2008 2:07am Dec 17, 2008 2:07am
May anyone explain ?
Attached Image (click to enlarge)
Click to Enlarge Name: retrace171208.gif Size: 56 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,411
  • Dec 17, 2008 2:07am Dec 17, 2008 2:07am
lol. Nothing personal dude. But there have been a few guys who have followed calls blindly on the forum lately so we need to alert them to bad calls. You trade fine but you trail large stops which can murder new traders.

The problem is taking a short from a low level is a technique best used on breakouts and not retracements on what is likely an uptrend. You may win your trade but you had to trail a 60 pip loss to do so. For a trader with a 40 pip stop loss that was a losing trade already.


Quoting Shermenator
lol I am still short haha....how do you know how far my analsysis is ...as well as how deep of a move am I looking ...as well a how long term am I looking?
Ride the Bulls bearback!
  • #107,412
  • Dec 17, 2008 2:12am Dec 17, 2008 2:12am
Quoting alcando
That is a terrible level for a sell. I will buy at 15560 and wipe you back up for ages. keep it below that or sell at resistance at the high above here. Please, nobody place that sell stop.
http://www.forexfactory.com/images/icons/icon14.gif
Many happy pips returned ...
  • #107,413
  • Dec 17, 2008 2:13am Dec 17, 2008 2:13am
Quoting alcando
lol. Nothing personal dude. But there have been a few guys who have followed calls blindly on the forum lately so we need to alert them to bad calls. You trade fine but you trail large stops which can murder new traders.

The problem is taking a short from a low level is a technique best used on breakouts and not retracements on what is likely an uptrend. You may win your trade but you had to trail a 60 pip loss to do so. For a trader with a 40 pip stop loss that was a losing trade already.

What does it matter how big your stop loss is? 1% risk is 1% risk whether it is 30pips or 300pips
  • #107,414
  • Dec 17, 2008 2:16am Dec 17, 2008 2:16am
Quoting sleep1Iopen
All of you scalpers should go long and hold for a few days with targets at 1.66 to 1.7. You'll be happy you did and thank yourselves for changing you fear strategy...........Good luck
I pay gr8 attention when u speak....

Sonic
  • #107,415
  • Dec 17, 2008 2:17am Dec 17, 2008 2:17am
[quote=alcando;2424261]lol. Nothing personal dude. But there have been a few guys who have followed calls blindly on the forum lately so we need to alert them to bad calls. You trade fine but you trail large stops which can murder new traders.

The problem is taking a short from a low level is a technique best used on breakouts and not retracements on what is likely an uptrend. You may win your trade but you had to trail a 60 pip loss to do so. For a trader with a 40 pip stop loss that was a losing trade already.[/quote

if people follow blindly,that is there concern.

Sherminator is not like the rest on here,who get off on posting there gains,after the event.

Good on you S. keep it up
  • #107,416
  • Dec 17, 2008 2:20am Dec 17, 2008 2:20am
Quoting gagakrimba
Yeah....entered @ 1.5600 and with 2 posts entered yesterday still holding
I guess it is LONG...
what is ur SL??

Sonic
  • #107,417
  • Dec 17, 2008 2:21am Dec 17, 2008 2:21am
Retest support level 1.5545 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #107,418
  • Dec 17, 2008 2:23am Dec 17, 2008 2:23am
Quoting alcando
lol. Nothing personal dude. But there have been a few guys who have followed calls blindly on the forum lately so we need to alert them to bad calls. You trade fine but you trail large stops which can murder new traders.

The problem is taking a short from a low level is a technique best used on breakouts and not retracements on what is likely an uptrend. You may win your trade but you had to trail a 60 pip loss to do so. For a trader with a 40 pip stop loss that was a losing trade already.

true... no one should trade of of other peoples calls...

i trade with large stops because i use very small lots:
i trade with 0.1 lots instead of 1.0 lots... so a 400 pip stop is equal to a 40 pip stop by $ loss

the reason i am doing this is because there are 3 things you have to do to be a good trader:

1) get the right direction
2) get the right entry
3) good money management

most people can get #1 correct; the problem comes with #2 and #3... if you use lower lots... your time maybe off, however you can double up at -100, and double up again at -200... if you got the direction correct you make more profitable trades. furthermore, if you have lower lots you dont feel as bad when they go against you.
  • #107,419
  • Dec 17, 2008 2:23am Dec 17, 2008 2:23am
Hi there,
i make some modification on my system, and i shear it with you here but please just monitor it its not yet confirmed.
Attached Image
  • #107,420
  • Dec 17, 2008 2:24am Dec 17, 2008 2:24am
gbp/usd never fall in december since euro was launched.so i long gbp/usd from 1.4500 until end of december .euro/usd have a tendancy to fall in january so i will short euro/usd early january 2009 because there are some trader trade base on calender only.
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