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Cable Update (GBPUSD)

  • #115,441
  • Jan 27, 2009 10:47am Jan 27, 2009 10:47am
Can you help ? Thancks !!!! And good luck !!!!!
  • #115,442
  • Jan 27, 2009 10:49am Jan 27, 2009 10:49am
Quoting ZuZuFx
Hey guys !!!! How are you today ! Hope your ok ...because i am in deep shit like i said 3 days ago ....i have minus 7.500 euro on my trade ( don't say nothing bad ...cause i say to manny bad words until today ) . I am in this trouble because i bye GBP on 1.5152 on december (100K) and now i am down ....and i whant to make some money today ....i whant to bye or sale 500K for a short trade to recover some money but i don't know what to do ....bye or sale ? What is your opinnion ? Sorry for my english !!!
Hey ZUZU,

well price is up like we discussed before, if I was long right now i would close and see if this trend line holds or not thats my opinion anyway, good luck
  • #115,443
  • Jan 27, 2009 10:50am Jan 27, 2009 10:50am
Quoting PipLand
This trendline is very important i feel. If it holds up now then I reckon it will pave the way back down to 1.35xx possibly lower. If its broken then I cant see price being held back until 1.44xx
..good price action for up! i think
Attached Image (click to enlarge)
Click to Enlarge Name: cable30mr.gif Size: 27 KB
  • #115,444
  • Jan 27, 2009 10:53am Jan 27, 2009 10:53am
Quoting ZuZuFx
Hey guys !!!! How are you today ! Hope your ok ...because i am in deep shit like i said 3 days ago ....i have minus 7.500 euro on my trade ( don't say nothing bad ...cause i say to manny bad words until today ) . I am in this trouble because i bye GBP on 1.5152 on december (100K) and now i am down ....and i whant to make some money today ....i whant to bye or sale 500K for a short trade to recover some money but i don't know what to do ....bye or sale ? What is your opinnion ? Sorry for my english !!!
how much are u currently down....? i must be reading what u wrote wrong..
  • #115,445
  • Jan 27, 2009 10:56am Jan 27, 2009 10:56am
  •  Trader#2EF1
  • | Status: Unregistered Trader
i am so confused...
  • #115,446
  • Jan 27, 2009 10:58am Jan 27, 2009 10:58am
Quoting nAVIN2007
..good price action for up! i think
Yeah price right now is holding so will prob at least test the trendline again
  • #115,447
  • Jan 27, 2009 10:59am Jan 27, 2009 10:59am
look at the m5 candles.. if that doesnt' tell us we need to move from this area before picking a direction.. I don't know what does.... I'm taking a break... too much chart time...
DireXiv Make it happen, no one else is going to do it for you...
  • #115,448
  • Jan 27, 2009 11:00am Jan 27, 2009 11:00am
I am 7.533 down and still 12.164 cash
  • #115,449
  • Jan 27, 2009 11:01am Jan 27, 2009 11:01am
Quoting PipLand
The banking situation is pretty bad over here but i havent resulted to putting it under the pillow just yet, although that time might come soon lol

My trades are entered mainly on technical analysis although I do like to know what is going on fundamentally.

The downtrend resistance line looked strong and thats pretty much why i shorted this.
Maybe i should reveal some things i do : i use this thread purely as one of my three indicators. I love it bcos of the Technical Analyst(s) in it. Secondly, i resolved to rely on breakout strategy for now. Wearing Shorts Or Long is not necessary in a neutral and dark climate. Thirdly, i use what comes as best option at the moment, i mean, somehow a mixture of many systems or just nothing at all. I must confess am still studying the market and yet to find any solid direction or best strategy. But for the main time Sup/Rest and Daily pivot points seem to play the major role in my breakout system.
  • #115,450
  • Jan 27, 2009 11:02am Jan 27, 2009 11:02am
maybe my english is bad ...thats why you dont't understand ....i have a 19.700 euro account right now ....minus 7.573 ....and still 12.116 cash ...
  • #115,451
  • Jan 27, 2009 11:04am Jan 27, 2009 11:04am
Quoting ZuZuFx
maybe my english is bad ...thats why you dont't understand ....i have a 19.700 euro account right now ....minus 7.573 ....and still 12.116 cash ...
First, let me ask, how long have you been trading? 2nd, why did you marry a position so high up and watch the beating your account took all the way to the bottom? 3rd, have you learned anything from this?
Just digging in the trenches like everyone else!
  • #115,452
  • Jan 27, 2009 11:06am Jan 27, 2009 11:06am
stop losses aren't for sissies?
  • #115,453
  • Jan 27, 2009 11:09am Jan 27, 2009 11:09am
Quoting Fx24k
stop losses aren't for sissies?
I think you need to replace the ? with a !

Otherwise, good first post. SL are not for sissies, it's for those who want to preserve their existance in this industy.
Just digging in the trenches like everyone else!
  • #115,454
  • Jan 27, 2009 11:10am Jan 27, 2009 11:10am
Quoting PipLand
Hey ZUZU,

well price is up like we discussed before, if I was long right now i would close and see if this trend line holds or not thats my opinion anyway, good luck
I am sorry ...but i will never close a deal with minus 7000 euro even is i die tomorow ........i will wait her to go back to 1.51 ....i now i look stupid but is not the first time when i do this .....i will go whith her whethever she'll go ....even if i have to deposit more money !!! She can't beat me up ...nooo !!!!
  • #115,455
  • Jan 27, 2009 11:10am Jan 27, 2009 11:10am
Quoting eohater
First, let me ask, how long have you been trading? 2nd, why did you marry a position so high up and watch the beating your account took all the way to the bottom? 3rd, have you learned anything from this?
With all my respect to you, EO, don't be hard on ZU. I went through this too last year. It takes some time to understand that -200 much better than
-2000. As a freshman last year I burned 5K before I got it. Not a bright move, ah?
  • #115,456
  • Jan 27, 2009 11:12am Jan 27, 2009 11:12am
Quoting ZuZuFx
I am sorry ...but i will never close a deal with minus 7000 euro even is i die tomorow ........i will wait her to go back to 1.51 ....i now i look stupid but is not the first time when i do this .....i will go whith her whethever she'll go ....even if i have to deposit more money !!! She can't beat me up ...nooo !!!!
To be honest if that is you attitude to Forex you might as well close your account now and take it to Vegas! Because it doesnt matter how many times you win or how much you make, one day you will lose the lot
  • #115,457
  • Jan 27, 2009 11:15am Jan 27, 2009 11:15am
Quoting PipLand
To be honest if that is you attitude to Forex you might as well close your account now and take it to Vegas! Because it doesnt matter how many times you win or how much you make, one day you will lose the lot
Well said!

Attempting to win back the losses with a speculative 500k lot (5 times the original size) is sheer stupidity - it may work out once, or even twice, but this approach will finish your account some day, of that there is no doubt.

I am not being excessively hard on a newbie, but the guy needs a reality check, because this is a tough, tough business. He simply has to change his outlook to have any chance of survival.
  • #115,458
  • Jan 27, 2009 11:17am Jan 27, 2009 11:17am
Quoting eohater
First, let me ask, how long have you been trading? 2nd, why did you marry a position so high up and watch the beating your account took all the way to the bottom? 3rd, have you learned anything from this?
O , yeahhh......i learn to manny things but it's to lait right now ....lucky for me that i can support her with cash until she go to 0.00 even down ....i was greedy , i was hopping that she will recover every day but she go deeper and deeper ....until now !!!! It's hard to understand , i guess , you all playing on demo or with 10k max.....
But it's true ...i can send you my platform pic if you don't belive me ....
And finnaly i wanna say that i am a 33 years girl ...with 1 year experience !!!
  • #115,459
  • Jan 27, 2009 11:17am Jan 27, 2009 11:17am
Did anybody spill Crazy Glue in between 4155-4165?
  • #115,460
  • Jan 27, 2009 11:25am Jan 27, 2009 11:25am
Quoting ZuZuFx
Hey guys !!!! How are you today ! Hope your ok ...because i am in deep shit like i said 3 days ago ....i have minus 7.500 euro on my trade ( don't say nothing bad ...cause i say to manny bad words until today ) . I am in this trouble because i bye GBP on 1.5152 on december (100K) and now i am down ....and i whant to make some money today ....i whant to bye or sale 500K for a short trade to recover some money but i don't know what to do ....bye or sale ? What is your opinnion ? Sorry for my english !!!
Hello Zuzufx,
I saw many of your post long time ago but people like me should not talk due to the presence of some real experts here. I really want them to continue on higher matters thats why i have the courage to reply you.
You actually reminded me of my early days in school when our teacher use to make us run a race from the class room to a small distance, then back to the class. Some will only run half way... then wait for the "true" runners to meet them and then pretend running the full distance.
Idea i got : If u really believe that there will be a turn.... then....stop(i mean go out of the trade)....wait...or place a sell/buy stop/limit....untill the trend moves to your direction heading towards your target.
You cant lose in forex.....lose here is only temporal......if trading remain your business full/part time; maybe thats how i see it.
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