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Cable Update (GBPUSD)

  • #117,441
  • Feb 3, 2009 11:37am Feb 3, 2009 11:37am
Quoting nAVIN2007
yes i do agree, however on the 1hr i need to see something which tells me price wants to falls when i see this......i may exit...the trade i placed im monitoring on small time frame but entry and exit is based on weekly and this will be the method of trading id adapt when i go live as i wont be able to manage the trades

yellow line resistance should form support when it breaks i will exit especailly if 4hr is a pin but so far its looking bullish to me
I don't look smaller then 1h time frame and 4h that's how I trade and I can set the trade and leave
  • #117,442
  • Feb 3, 2009 11:38am Feb 3, 2009 11:38am
Quoting joemiami
Hmmmm.... 15 min salivating to head down...we'll see.

Sophia, why you say it could to 1.4476?...based on what?
My crystal ball remember I have one lol
  • #117,443
  • Feb 3, 2009 11:39am Feb 3, 2009 11:39am
Quoting eohater
I'm short from 4390, targeting 4250 area, I've taken profit on half the trade at 4350 and will add again should she go back up.
Hello Eohater

Can I just confirm your signals for entering this trade. Was it confluence where price hit both the 4H 150EMA and the 4H downward trend line? Or something else?

Thanks
  • #117,444
  • Feb 3, 2009 11:40am Feb 3, 2009 11:40am
But you are making money now
  • #117,445
  • Feb 3, 2009 11:41am Feb 3, 2009 11:41am
Quoting nAVIN2007
yes i do agree, however on the 1hr i need to see something which tells me price wants to falls when i see this......i may exit...the trade i placed im monitoring on small time frame but entry and exit is based on weekly and this will be the method of trading id adapt when i go live as i wont be able to manage the trades

yellow line resistance should form support when it breaks i will exit especailly if 4hr is a pin but so far its looking bullish to me
Sorry for the delayed response, caught with other things. Out of curiosity, what timeframe do you normally hold your trade?
  • #117,446
  • Feb 3, 2009 11:41am Feb 3, 2009 11:41am
Quoting sofia101
I don't look smaller then 1h time frame and 4h that's how I trade and I can set the trade and leave
yes...this is what im trying to do now i think its necessary then only when going live again do i stand a chance..that was my biggest issue with live account...being constantly talked out of my belief..because of fear of losing
  • #117,447
  • Feb 3, 2009 11:42am Feb 3, 2009 11:42am
Quoting Nardino
Sorry for the delayed response, caught with other things. Out of curiosity, what timeframe do you normally hold your trade?
4hrs
i see what yur saying but i think it require more experience on my part to get to this stage
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  • #117,448
  • Feb 3, 2009 11:43am Feb 3, 2009 11:43am
Quoting sofia101
My crystal ball remember I have one lol
is that better than those magic 8 balls at Toys R Us?.....
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  • #117,449
  • Feb 3, 2009 11:43am Feb 3, 2009 11:43am
I agree on statements bout trading live is different to demo. I made the change over couple of weeks back. Makin money on the demo fairly easy, then when my own money involved i pulled out of trades when started to go negative, even tho i change nothing. Suddenly you get real emotions when real money is involved as a result i started off bad by loosing, but account is now back up by £49.57. I only trade 3 figure sum, start capital £200. I trade 0.02 - 0.05 lot per trade lol. I did plan to invest more but needed it to buy van. Kinda glad i didnt.
  • #117,450
  • Feb 3, 2009 11:46am Feb 3, 2009 11:46am
Quoting joemiami
is that better than those magic 8 balls at Toys R Us?.....
cool
  • #117,451
  • Feb 3, 2009 11:48am Feb 3, 2009 11:48am
Quoting nAVIN2007
yes...this is what im trying to do now i think its necessary then only when going live again do i stand a chance..that was my biggest issue with live account...being constantly talked out of my belief..because of fear of losing

So true nAVIN

i have been talked out of some really great trades..so..if you do your homework..design your trade..set your risk level..and let it work its majic..try not to second guess yourself..but keep an eye on news...best we can do..
  • #117,452
  • Feb 3, 2009 11:50am Feb 3, 2009 11:50am
Quoting JammerJams
So true nAVIN

i have been talked out of some really great trades..so..if you do your homework..design your trade..set your risk level..and let it work its majic..try not to second guess yourself..but keep an eye on news...best we can do..
the hurdles are all emotional in this game
  • #117,453
  • Feb 3, 2009 11:51am Feb 3, 2009 11:51am
Ok, let's see: Im short at 1.4382, maybe I'll just let her flow downward on 1 HR chart.....
  • #117,454
  • Edited 11:58am Feb 3, 2009 11:53am | Edited 11:58am
Quoting nAVIN2007
4hrs
i see what yur saying but i think it require more experience on my part to get to this stage
4Hrs. is a good timeframe but if you are trading intraday you might consider hourly. I don't know how you do your TA too. You need to start by looking at the picture. From monthly, weekly, daily, all the way down and use 5- or 15-mins. for your entry. Then monitor with indicators.

You will need to be clear about your risks tolerance level. This is what I do.

4hrs. is good if you are swing trading, ie. leaving your position for a few days. I'm not clear if that is your trading style. Is it?
  • #117,455
  • Feb 3, 2009 11:58am Feb 3, 2009 11:58am
Quoting joemiami
Ok, let's see: Im short at 1.4382, maybe I'll just let her flow downward on 1 HR chart.....

g/u view analysis: http://blog.fxinstructor.com/

Hello Joe..

to ease your mind..g/u does not have a clear direction for the time being..we hit the low end of an initial resistence level...if it stays here or lower..we will be testing the 4030 level..all inidcations are pointing that way..

i have caught a short...and set BE+ already..going to let it ride with TP at 4080.

I will set SL downward at 50% of profit level. securing 50 pips. after a 100 pip move down..and enter new short..at a more opportune time..and entry.

I will not open a second entry unless initial entry is secured at +BE minimum

good luck..
  • #117,456
  • Feb 3, 2009 11:59am Feb 3, 2009 11:59am
Nice bearish pin on 4 HR materializing....lets hope she stays true to her word
  • #117,457
  • Feb 3, 2009 12:00pm Feb 3, 2009 12:00pm
Congrats to everybody who had guts to take short with me
  • #117,458
  • Feb 3, 2009 12:04pm Feb 3, 2009 12:04pm
Quoting Nardino
4Hrs. is a good timeframe but if you are trading intraday you might consider hourly. I don't know how you do your TA too. You need to start by looking at the picture. From monthly, weekly, daily, all the way down and use 5- or 15-mins. for your entry. Then monitor with indicators.

You will need to be clear about your risks tolerance level. This is what I do.

4hrs. is good if you are swing trading, ie. leaving your position for a few days. I'm not clear if that is your trading style. Is it?
i have leaned toward the j16 style of trading, have learned so much from jim, i gotta give him credit, yes i like to leave a position open for a week maybe even longer all depends
  • #117,459
  • Feb 3, 2009 12:15pm Feb 3, 2009 12:15pm
Quoting nAVIN2007
i have leaned toward the j16 style of trading, have learned so much from jim, i gotta give him credit, yes i like to leave a position open for a week maybe even longer all depends
I know Jim from years back to 2005. Nice guy.
Like I said I'm don't want to change your trading style. It would be wrong of me to want to because I don't know your risks appetite.

However, 4hrs is perfect for your style especially if your're holding more than a day. What you may be lacking is enough mileage that gives you the edge in the marketplace. That will come if you don't give up. You can make it.

I wish you the very best.
  • #117,460
  • Feb 3, 2009 12:17pm Feb 3, 2009 12:17pm
Hope she bounces back down off the 5 min trend line......she "should"
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