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Cable Update (GBPUSD)

  • #110,661
  • Jan 11, 2009 3:23pm Jan 11, 2009 3:23pm
[quote=gammase1;2461855]
Quoting Si Tr4d3r

Si Tr4d3r,

Not having a pop at you personally, friend. From the experiences relayed in your post, additional advice would be to use a mental stop loss (but obey it rigorously) if the position is intra-day.

As for the stupid mistake department, I have made - and continue to make -plenty of those, so you are definitely not alone there!!

Good luck mate.

No worries, I'll have to think about it. Alltho that was part of my stupid mistake strategy, thinking ' a little more and it'll turn...,

Just need the self control to overide the greed element.

Thanks ..
  • #110,662
  • Jan 11, 2009 3:31pm Jan 11, 2009 3:31pm
Quoting golatigo
Agree - maybe even 4950ish
Entry for me will be as 4 macd hits from + to - and remains bearish...it may be a couple hours before we see any kind of serious drop. low volume right now...

I like what I see in the Daily..Hich stoch value 80 and RSI moving down to pierce 50 value...

its also building a nice resistence at 5100 level
  • #110,663
  • Jan 11, 2009 3:38pm Jan 11, 2009 3:38pm
Quoting JammerJams
Entry for me will be as 4 macd hits from + to - and remains bearish...it may be a couple hours before we see any kind of serious drop. low volume right now...

I like what I see in the Daily..Hich stoch value 80 and RSI moving down to pierce 50 value...

its also building a nice resistence at 5100 level
Still can't sign on to cms - bunch of b s
Think i'm ok, but would like to be seeing my charts
  • #110,664
  • Jan 11, 2009 3:42pm Jan 11, 2009 3:42pm
With the low volume and no news on the GBP will we see the the 1.53 area again and a possible down after that. Plus the gap normally gets filled on Sunday once the spread closes.
  • #110,665
  • Jan 11, 2009 3:43pm Jan 11, 2009 3:43pm
Quoting golatigo
Agree - maybe even 4950ish
Your ok right now..but not good to fly blind ....
especially if you did not place insurance on the entry..
  • #110,666
  • Jan 11, 2009 3:50pm Jan 11, 2009 3:50pm
Quoting JammerJams
Your ok right now..but not good to fly blind ....
especially if you did not place insurance on the entry..

Pretty sure i have a tp @ 5000, but can't confirm
guess i could call the dealing desk
already call tech support and was told I should have up by now
don't normally use stops - but did put one at 5200 on this trade
I know i have both euro & gdp going south this week

Thanks for the info by the way -- where do you have usd/gdp at right now
  • #110,667
  • Jan 11, 2009 4:01pm Jan 11, 2009 4:01pm
just prepare to short fellows
  • #110,668
  • Jan 11, 2009 4:08pm Jan 11, 2009 4:08pm
Taking a good look at the 1 Hr and 4 hr chart..I see a nice
evening Star just before the close last friday...

1 Hr... Evening start formation
4 Hr... Gravestone Doji formation

Next target is 5000
gotta hold that 5100 level..

My spreads are ranging from 3 pips to 14 pips..not good...
makes it difficult to calculate SL and TP placements...
Attached Image
  • #110,669
  • Jan 11, 2009 4:13pm Jan 11, 2009 4:13pm
Quoting golatigo
Pretty sure i have a tp @ 5000, but can't confirm
guess i could call the dealing desk
already call tech support and was told I should have up by now
don't normally use stops - but did put one at 5200 on this trade
I know i have both euro & gdp going south this week

Thanks for the info by the way -- where do you have usd/gdp at right now
I have had to close positions via phone before...just remember..you need to tell them close entry exactly..they wont tell you the current level its at...they dont want to be held responsible for miss information.

looks like it is holding nice below 5100 and dropping to a nice 5000 level in what seems 1 more hour to sooner then expected...
  • #110,670
  • Jan 11, 2009 4:29pm Jan 11, 2009 4:29pm
Quoting JammerJams
I have had to close positions via phone before...just remember..you need to tell them close entry exactly..they wont tell you the current level its at...they dont want to be held responsible for miss information.

looks like it is holding nice below 5100 and dropping to a nice 5000 level in what seems 1 more hour to sooner then expected...
by the way...You asked where I placed or will place my entry.

1. the 30 min sma has entered Short last friday..but I did not dare do it over the weekend.

2. The 4 Hr. sma is still too high but the 1 Hr. is getting plump for the taking...letting the crossover occur...and RSI 4 Hr. drop below 50

I would prefer that the 4 Hr. MACD drop into the negative region.

No news pending for a while on the pair
  • #110,671
  • Jan 11, 2009 4:41pm Jan 11, 2009 4:41pm
Quoting JammerJams
I have had to close positions via phone before...just remember..you need to tell them close entry exactly..they wont tell you the current level its at...they dont want to be held responsible for miss information.

looks like it is holding nice below 5100 and dropping to a nice 5000 level in what seems 1 more hour to sooner then expected...
Thanks for the info -- still not on yet
called tech again said they were resetting server
this is the first time in a long time that I've had a problem signing on
with them - think this b s started last thurs. though
confirmed that i do have a tp at 5000
keep it going south for me - thanks
  • #110,672
  • Jan 11, 2009 5:03pm Jan 11, 2009 5:03pm
Quoting golatigo
Thanks for the info -- still not on yet
called tech again said they were resetting server
this is the first time in a long time that I've had a problem signing on
with them - think this b s started last thurs. though
confirmed that i do have a tp at 5000
keep it going south for me - thanks

One more bit of advice..not trying to be controlling..but it is best not to have orders processed during the asian session..their rates (spread) are higher then London session....

good luck
  • #110,673
  • Jan 11, 2009 5:08pm Jan 11, 2009 5:08pm
Quoting JammerJams
One more bit of advice..not trying to be controlling..but it is best not to have orders processed during the asian session..their rates (spread) are higher then London session....

good luck
cms spreads are fixed - except during the holidays when they
fixed at 10 on gbp and euro day after x-mas and jan 2
Rest of the time euro - 2 / gbp - 4 -- always

thanks though
FYI - think not much asian session - japan banks closed
  • #110,674
  • Jan 11, 2009 5:17pm Jan 11, 2009 5:17pm
Quoting golatigo
cms spreads are fixed - except during the holidays when they
fixed at 10 on gbp and euro day after x-mas and jan 2
Rest of the time euro - 2 / gbp - 4 -- always

thanks though
FYI - think not much asian session - japan banks closed
set your SL tight if you have open entries with London session...

good luck
  • #110,675
  • Jan 11, 2009 5:26pm Jan 11, 2009 5:26pm
Quoting JammerJams
set your SL tight if you have open entries with London session...

good luck
If it doesn't come back on line soon I will be
calling the desk and closing while i'm still in the positive
i should just leave it to hit my tp, but without seeing my charts
and whats going on, it may be better to just get out
there is always another trade around the corner

just got off the phone with tech again - they keep saying anytime now
been saying that for 3 hours
  • #110,676
  • Jan 11, 2009 5:28pm Jan 11, 2009 5:28pm
w0rd!
lowest draw down possible please.
  • #110,677
  • Jan 11, 2009 5:34pm Jan 11, 2009 5:34pm
Quoting golatigo
If it doesn't come back on line soon I will be
calling the desk and closing while i'm still in the positive
i should just leave it to hit my tp, but without seeing my charts
and whats going on, it may be better to just get out
there is always another trade around the corner

just got off the phone with tech again - they keep saying anytime now
been saying that for 3 hours
this is sad..sorry to hear that..I understand that frustration.
The order to close that entry should be time stamped..and placed manually.

I can not give you advice on what to do with the open order...just move the SL up into the profit area for sure..at least..
  • #110,678
  • Jan 11, 2009 5:35pm Jan 11, 2009 5:35pm
I think it would be prudent to declare if you are a Live or Demo
trader either in your signitures or in your profiles - any thoughts?

My guess is that a majority here are demo traders, which is ok.
And of those that are live, may be only trading mini or super mini

How many on here really trade real money and with full lots or better?
Just asking - not trying to piss anyone off.
  • #110,679
  • Jan 11, 2009 5:40pm Jan 11, 2009 5:40pm
Quoting golatigo
I think it would be prudent to declare if you are a Live or Demo
trader either in your signitures or in your profiles - any thoughts?

My guess is that a majority here are demo traders, which is ok.
And of those that are live, may be only trading mini or super mini

How many on here really trade real money and with full lots or better?
Just asking - not trying to piss anyone off.
I do.......

HOLLA
  • #110,680
  • Jan 11, 2009 5:42pm Jan 11, 2009 5:42pm
Quoting JammerJams
this is sad..sorry to hear that..I understand that frustration.
The order to close that entry should be time stamped..and placed manually.

I can not give you advice on what to do with the open order...just move the SL up into the profit area for sure..at least..

From what I can see i'm up about $800 (80 pips) - looking at dukascopy.com
thinking it may be better to close (call in ) soon - if cms doesn't come back
on soon!!!! -- Just kinda gets me pissy when this shit happens.
But still have all week to make more
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