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Cable Update (GBPUSD)

  • #112,441
  • Jan 19, 2009 3:37am Jan 19, 2009 3:37am
Good morning people,hope you cashed in on this drop.
  • #112,442
  • Jan 19, 2009 3:39am Jan 19, 2009 3:39am
Quoting trader2160
Good morning people,hope you cashed in on this drop.
morning buddy
only managed to catch +20.
How bout you?
Keep It Simple Stupid
  • #112,443
  • Jan 19, 2009 3:42am Jan 19, 2009 3:42am
Quoting Bullfx
FTSE is + 2%. Try Long G/U at 1.4650, TP at 1.4780
She has drop more than 250 pips from the peak. I think entering long at that price is a good idea
  • #112,444
  • Jan 19, 2009 3:43am Jan 19, 2009 3:43am
Quoting Alastair
morning buddy
only managed to catch +20.
How bout you?
No,got back just now.
  • #112,445
  • Jan 19, 2009 3:47am Jan 19, 2009 3:47am
Quoting Alastair
morning buddy
only managed to catch +20.
How bout you?
Damned....miss that drop. I thought she was going to break 1.5000
  • #112,446
  • Jan 19, 2009 3:49am Jan 19, 2009 3:49am
Quoting pipmyride
Galation how about yourself ?
I work on exactly the same principle. 50 pips per day is the target. One day one could reep 100 pips, the next could be -50.

I work with a 2% money management rule. If any one trade reached 2% of my account equity, it will be liquidated. If I have $100,000 in my account, I will have a maximum of $20 per pip.

I work the value per pip based upon the ATR of the time frame I'm trading. From the ATR I calculate the stop loss. I then can decide how much each pip will be worth, to give the trade room to move without hitting my 2%.

Example: 100,000 USD in account

  1. 2% = $2000 risk for the trade
  2. ATR = 125
  3. Stop = 150
  4. MAXimum Value per pip = 2000/150 = $13.33 pp

That's my approach. On higher probability trades I will have a higher value per pip, while still honouring the 2% rule: however, this is up to my discretion on what I think the probability of any given trade is.

Probability Professor
  • #112,447
  • Jan 19, 2009 4:02am Jan 19, 2009 4:02am
Its scalp time? daily HL not update...
  • #112,448
  • Jan 19, 2009 4:03am Jan 19, 2009 4:03am
Quoting Galation
That's my approach.
Great stuff - thanks !
  • #112,449
  • Jan 19, 2009 4:04am Jan 19, 2009 4:04am
Quoting Atondra
Damned....miss that drop. I thought she was going to break 1.5000
Bad luck dude
  • #112,450
  • Jan 19, 2009 4:30am Jan 19, 2009 4:30am
Quoting trader2160
Bad luck dude
I tried replying to your email: but it says your inbox was full...... How many messages do you send and receive!?!?
Probability Professor
  • #112,451
  • Jan 19, 2009 4:38am Jan 19, 2009 4:38am
Quoting Galation
I tried replying to your email: but it says your inbox was full...... How many messages do you send and receive!?!?
yeah it reached capacity this weekend,wasnt aware that sent messages counted as well.
  • #112,452
  • Jan 19, 2009 4:48am Jan 19, 2009 4:48am
its my first post on this forum

Sell GBP/USD market price (1.4680)
Add sell 1.4760

stop 1.4844

Target 1.4525

Good luck all
  • #112,453
  • Jan 19, 2009 4:55am Jan 19, 2009 4:55am
Quoting gc_fx
its my first post on this forum

Sell GBP/USD market price (1.4680)
Add sell 1.4760

stop 1.4844

Target 1.4525

Good luck all
good call..let see
  • #112,454
  • Jan 19, 2009 5:25am Jan 19, 2009 5:25am
Quoting gc_fx
its my first post on this forum

Sell GBP/USD market price (1.4680)
Add sell 1.4760

stop 1.4844

Target 1.4525

Good luck all
--------------------------------

Do not let the pound deceive you ... it may show you that it wants to shoot up during Newyork open ... but the end is south direction !!
  • #112,455
  • Jan 19, 2009 5:34am Jan 19, 2009 5:34am
looks like head a shoulders possibly forming on g/u m15
DireXiv Make it happen, no one else is going to do it for you...
  • #112,456
  • Jan 19, 2009 5:42am Jan 19, 2009 5:42am
Quoting gc_fx
--------------------------------

Do not let the pound deceive you ... it may show you that it wants to shoot up during Newyork open ... but the end is south direction !!

i followed you..entered @ 1.4658, but i am so scared..sl @1.4720
  • #112,457
  • Edited 6:01am Jan 19, 2009 5:46am | Edited 6:01am
Quoting gc_fx
--------------------------------

Do not let the pound deceive you ... it may show you that it wants to shoot up during Newyork open ... but the end is south direction !!
I'm with you, entered @ 1.4678 SL @ 1.4750 with litle lots. closed @ 14640. ( my Internet connection very suck! I'm quit)

thanks for your signal gc_fx

happy green pips all!
  • #112,458
  • Jan 19, 2009 5:53am Jan 19, 2009 5:53am
Quoting biax
I'm with you, entered @ 1.4678 SL @ 1.4750 with litle lots.

i am not alone
  • #112,459
  • Jan 19, 2009 5:54am Jan 19, 2009 5:54am
Good luck to all three of you.Just remember there is no US session today,so liquidity will be thin.
  • #112,460
  • Jan 19, 2009 5:55am Jan 19, 2009 5:55am
I agree with the short bias people on here are showing but im not entering short at this price level. We could see as high as 1.4880 today which is the top of the wedge before this comes down more, I will be looking for short entries around 1.48xx
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