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  • #8,141
  • Feb 3, 2009 8:21am Feb 3, 2009 8:21am
Anyone ready to short the cable at 1.4340?
  • #8,142
  • Feb 3, 2009 8:27am Feb 3, 2009 8:27am
Quoting bumasoft
Would 1.2601 - .12645 be a good place to short the CAD? Or does the range start at 1.2566? How do you see things?
Yes that looks possible but, had my internet connection been on I would have probably entered on the retest of 12500.
  • #8,143
  • Feb 3, 2009 8:29am Feb 3, 2009 8:29am
I shorted the cable. God be with me!
  • #8,144
  • Feb 3, 2009 8:35am Feb 3, 2009 8:35am
Quoting bumasoft
I shorted the cable. God be with me!
Was watching that level but decided not to take it yet because of the ferocity of the move up not too long ago. Might wait till after the news to enter any trades today
  • #8,145
  • Feb 3, 2009 8:40am Feb 3, 2009 8:40am
Quoting islandpippin
Was watching that level but decided not to take it yet because of the ferocity of the move up not too long ago. Might wait till after the news to enter any trades today
I took it because of that big move, thinking: How long can it move up? It was moving right to an area of decent supply, so the novices must have went long. Let's see if I can transfer some money from their accounts to mine
  • #8,146
  • Feb 3, 2009 8:40am Feb 3, 2009 8:40am
Quoting PaulEamonn
Pearls of wisdom RC.
Not my pearls.

It's just my limited experience combined with what I learnt here.
  • #8,147
  • Feb 3, 2009 8:44am Feb 3, 2009 8:44am
Quoting cliffedwards
wedge getting very tight..

Update 15:41cet ..and Out @92 for 40
Nice call!
  • #8,148
  • Feb 3, 2009 8:49am Feb 3, 2009 8:49am
Banked 20 pips, SL at BE, letting the rest ride. I'm targeting 100 pips. Let's see how this goes.
  • #8,149
  • Feb 3, 2009 8:51am Feb 3, 2009 8:51am
[quote=RedCabbage;2511502]

  1. Define a consistent strategy at all levels.
  2. Log all of your set ups in detail whether actually traded or not.
  3. When you are consistently right, the results will speak for themselves and your self confidenence will come. quote]

Some other thoughts for trading during the learning process. It helps to maintain not only our financial capital but our mental capital as well:

Only Trade with the trend. Counter trends are so much more difficult. Stay with the trend and look for the pullbacks for entry. Trends exist on any timeframe but the trends on the larger timeframes are KING.

Trade only one currency pair. There are many trades each day on that one pair (I am trading the Euro almost exclusively). You learn how that one pair reacts; how it breathes; Great way to really learn to watch price action around the S/R levels.

Trade with Micro lots (1 Lot = $0.10). No stress trading. Develop a sense of the fact that some trades will lose. When a trade loses, say "Next" and get on to the next trade. The loss is minor and there is no emotion. That is what we strive for; objectivity.

SR

  • #8,150
  • Feb 3, 2009 8:55am Feb 3, 2009 8:55am
[quote=seattlerust;2511943]
Quoting RedCabbage

  1. Define a consistent strategy at all levels.
  2. Log all of your set ups in detail whether actually traded or not.
  3. When you are consistently right, the results will speak for themselves and your self confidenence will come. quote]

Some other thoughts for trading during the learning process. It helps to maintain not only our financial capital but our mental capital as well:

Only Trade with the trend. Counter trends are so much more difficult. Stay with the trend and look for the pullbacks for...

Thanks, SR. Nice thoughts.
  • #8,151
  • Feb 3, 2009 9:01am Feb 3, 2009 9:01am
Quoting bumasoft
Banked 20 pips, SL at BE, letting the rest ride. I'm targeting 100 pips. Let's see how this goes.
Ah, I got stopped out at BE
  • #8,152
  • Feb 3, 2009 9:06am Feb 3, 2009 9:06am
would like to see price re-touch the 1.4345/50 level to take a short--gbp/usd
  • #8,153
  • Feb 3, 2009 9:07am Feb 3, 2009 9:07am
Can anyone tell me what happened to BillyRayValentine?

Also, this site:

http://www.nobrainertrades.com

He (or someone) put a lot of effort into it; but it doesn't seem to have been updated for a while.
All flesh is as grass
  • #8,154
  • Feb 3, 2009 9:08am Feb 3, 2009 9:08am
Quoting c-note
would like to see price re-touch the 1.4345/50 level to take a short--gbp/usd
blowing right thru that level
  • #8,155
  • Feb 3, 2009 9:11am Feb 3, 2009 9:11am
Quoting c-note
blowing right thru that level
Certainly not helping with my self-confidence. LOL
  • #8,156
  • Feb 3, 2009 9:11am Feb 3, 2009 9:11am
Quoting dod
Can anyone tell me what happened to BillyRayValentine?

Also, this site:

http://www.nobrainertrades.com

He (or someone) put a lot of effort into it; but it doesn't seem to have been updated for a while.
That will be $100 please!
  • #8,157
  • Feb 3, 2009 9:15am Feb 3, 2009 9:15am
looks like 1.4425/30 area is next resistance level for gbp/usd. Daily chart for gbp is bullish
  • #8,158
  • Feb 3, 2009 9:16am Feb 3, 2009 9:16am
Quoting RedCabbage
That will be $100 please!
RC - there are 39 people reading this thread. I'm sure some of them went 'Uh huh!' to your comment. But there are also some (including me) that went 'What?'

You wanna elucidate?
RegardsPaul Eamonn
  • #8,159
  • Feb 3, 2009 9:16am Feb 3, 2009 9:16am
1.4435 seems like a decent next try for gbpusd. But I'm waiting for the EURO at 1.3025
  • #8,160
  • Feb 3, 2009 9:20am Feb 3, 2009 9:20am
Quoting bumasoft
1.4435 seems like a decent next try for gbpusd. But I'm waiting for the EURO at 1.3025
1.3025 area is the 50% fib retracement of current move down on daily
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