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Cable Update (GBPUSD)

  • #120,001
  • Feb 12, 2009 4:01am Feb 12, 2009 4:01am
Quoting napster_630
hi abuawad
i have a question
when take a position by your signal?!
for example when the 15m or 30m candles close below your sell price then take a sell position???
you have to use the analysis table also.
for example for the 1st sell entry for today.
the unknown area down limit was, 1.4365. we have to see 4H candle close below it and new one open also below it to confirm the direction.
now i use the 30M&15M to check the closing early above or below some value like support or resistant or even previous targets.
which was in today case 1.4353 and 1.4365
i hope you got it...
  • #120,002
  • Feb 12, 2009 4:02am Feb 12, 2009 4:02am
cong abu. and what do u think now about your third sell order ?
  • #120,003
  • Feb 12, 2009 4:03am Feb 12, 2009 4:03am
Abuawad, I have to say I am very impress with your trading and style. This is the 1st time I actually see your posts. Pretty amazing results. What more amazing is that I noticed you stick to 1 currency GBP and only this thread since you posted first back in Feb 08. I have read that this is what most successful trader on the floor do. They are specialists in 1 or 2 currencies at most! Although it would be hard to follow your posts as I am on different time zone with you but I will be following your posts from now on. Keep up the good analysis and great sharing.



Quoting Abuawad
you got me wrong, what i mean go to the first post of me... i was also new here and i learn.. nothing comes in one time... you have to spend some time also blowing some demo accounts also my friend.
  • #120,004
  • Feb 12, 2009 4:04am Feb 12, 2009 4:04am
Quoting Abuawad
the unknown area down limit was, 1.4365. we have to see 4H candle close below it and new one open also below it to confirm the direction.
4H candle Jakarta time (GMT +7) - right?
  • #120,005
  • Feb 12, 2009 4:08am Feb 12, 2009 4:08am
Quoting SeaPip
Abuawad, I have to say I am very impress with your trading and style....
thanks a lot for your words...
  • #120,006
  • Feb 12, 2009 4:10am Feb 12, 2009 4:10am
Quoting fifo
4H candle Jakarta time (GMT +7) - right?
the time on the chart now is 11:09 AM
  • #120,007
  • Feb 12, 2009 4:13am Feb 12, 2009 4:13am
Quoting linleysound
Man, again I find your views on how US data effects Cable to be somewhat muddled.....
I dont see whats the problem.
Please tell me what you dont understand of what i said, and i'll explain it again.
I even didnt say what numbers to expect on the news release, i just said bad US data on this news release (Unemployment Claims mostly) could weaken the dollar and drive the gbpusd up. Just that.
  • #120,008
  • Feb 12, 2009 4:17am Feb 12, 2009 4:17am
Quoting juanchoc
I dont see whats the problem.
Please tell me what you dont understand of what i said, and i'll explain it again.
I even didnt say what numbers to expect on the news release, i just said bad US data on this news release (Unemployment Claims mostly) could weaken the dollar and drive the gbpusd up. Just that.
Exactly...you fail to take into account RISK AVERSION - In these risk averse times bad US data often makes investors flee to safe havens i.e. they buy the USD.
  • #120,009
  • Feb 12, 2009 4:17am Feb 12, 2009 4:17am
Quoting Abuawad
you got me wrong, what i mean go to the first post of me... i was also new here and i learn.. nothing comes in one time... you have to spend some time also blowing some demo accounts also my friend.


please check your email i sent you an email..i know i have to learn and i am not saying i want to know everything now..
MY OPINION NOT FINANCIAL ADVISE
  • #120,010
  • Feb 12, 2009 4:26am Feb 12, 2009 4:26am
abuawad i think your third sell order hit the SL, but today is very good with your profitable 2 trades. Good Luck
  • #120,011
  • Feb 12, 2009 4:29am Feb 12, 2009 4:29am
Quoting nicotine
abuawad i think your third sell order hit the SL, but today is very good with your profitable 2 trades. Good Luck
No it's not i just explain it before few min, we should see the 30M candle close below 1.4170. before we say it'll active or not.
dose it close yet? the answer is no, so the position still on hold not active.
  • #120,012
  • Feb 12, 2009 4:36am Feb 12, 2009 4:36am
shall we close our short, gentlemen, ladies?
  • #120,013
  • Feb 12, 2009 4:40am Feb 12, 2009 4:40am
Quoting Abuawad
No it's not i just explain it before few min, we should see the 30M candle close below 1.4170. before we say it'll active or not.
dose it close yet? the answer is no, so the position still on hold not active.
hmm i understood i think.last 30 min candle close 1.4181 and right now price is 1.4155 but your order is still hold not active, isnt it ????
and you are waiting now this 30min candle??
  • #120,014
  • Feb 12, 2009 4:41am Feb 12, 2009 4:41am
Quoting uut
shall we close our short, gentlemen, ladies?
I would ,getting a little dangerous
  • #120,015
  • Feb 12, 2009 4:42am Feb 12, 2009 4:42am
  •  Trader#A46B
  • | Status: Unregistered Trader
Quoting macK
gonna close my shorts now... tnx for the input... wasn't watching
I hang my head in shame. set for longs, left for 4 days... pow... will now bow to greater authorities...

shame, shame, shame on me
  • #120,016
  • Feb 12, 2009 4:54am Feb 12, 2009 4:54am
day trading the forex market i think is the worse thing that will happen to a forex trader. because so many forces will walk against him/her and as time foes he/she will continue to lose focus. the best profile for a trader is to position his trade. why? because he trade less and win more and secondly his risk to reward will be something like this 1:5 at the minimum. to consolidate this is the more important factor money management which so many traders look to be less important. as for the present gbp/usd market i'm still looking for further downtrend though not much as the pair has currently run close to six hundred point of which i'm five hundred piont beneficiary.
  • #120,017
  • Feb 12, 2009 4:56am Feb 12, 2009 4:56am
Quoting goodwings
Wormboy,
Thanks. i really understand where your strategy is based on which someone also tried to explaind that the market tend to persist on the oversold direction on a larger time frame based on the fact that many traders at such moments believe that there should be the direction of the market.
Am a day trader. Larggely a scalper. I think one needs lots of courage to be your type!http://www.forexfactory.com/images/icons/icon14.gif
Your welcomed mate.
I use to trade scalp/daytrade before. Didn't turn out too well for me, so I changed the way I trade & never looked back since. But hey, what ever works for you as long as it stays green is good no?
Good luck on your trade
Thank You
  • #120,018
  • Feb 12, 2009 4:58am Feb 12, 2009 4:58am
Quoting dgr8truth
day trading the forex market i think is the worse thing that will happen to a forex trader. because so many forces will walk against him/her and as time foes he/she will continue to lose focus. the best profile for a trader is to position his trade. why? because he trade less and win more and secondly his risk to reward will be something like this 1:5 at the minimum. to consolidate this is the more important factor money management which so many traders look to be less important. as for the present gbp/usd market i'm still looking for further downtrend...
Well said
  • #120,019
  • Feb 12, 2009 4:59am Feb 12, 2009 4:59am
Quoting bobcat
I agree, i am also in the trade, but what i was looking for is peoples opinions backed up by their technical analysis, as i keep reading abit of a bullish long term bias, i would like to know why that is and where they think the turning point will be.
That's good man & I agree completely. Opinions are much needed to keep ourselves in checked, especially ones that are contrary to our own. But, it should by no means let you sway from your original target methinks. Good luck with your trade
Thank You
  • #120,020
  • Feb 12, 2009 5:12am Feb 12, 2009 5:12am
The way I see it we are all different and have different styles of trading fallowing anybody advise is not really trading ,do your own research and trade your own plan,because nothing works 100% ,this way you will be blaming only yourself,cheers
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