Just digging in the trenches like everyone else!
Cable Update (GBPUSD)
- #122,041
- Feb 19, 2009 6:15pm Feb 19, 2009 6:15pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
- #122,043
- Feb 19, 2009 6:22pm Feb 19, 2009 6:22pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #122,044
- Feb 19, 2009 6:24pm Feb 19, 2009 6:24pm
In this case probability was equal gambling.
No offense. Your shorted it 4385 at 7:50am, but at 9:00am you’ve been sweating out at 4450.
But anyway, the most important thing is result.
Congrats with your pips and good luck!
The following is to help you see how I worked out my ODDS.
Position opened at 10.33 gmt @ 1.4351. I admit that I came to the table late and took the trade later than I would liked to have done. Better for me to have taken the trade as it bounced off of R2, but then its just not possible to be at the cpu round the clock.
There were many arguments for both short and long position on the thread but for me they fell in favour of a short ( the same as for mseaz9 @4391, ragnakore @4395, marj @4375 and alfamichi @4341)
Please see post #121178 where I stated that that I expected cable to go up in the short term which it did. But there wasnt any evidence that it would be a runaway which it wasnt. My target on the short was 50% retracement of fibs from yesterdays low to what I perceived was the days high of 1.4417 R2. Although Thursdays high was in fact 1.4447 but it also hit my target without any problems.
With regards to sweating it out, you would be right if my mm was poor but it wasnt, which I why I could have a large s/l.
Imo many traders loose much of their account by using too large a lot size and too small a s/l. Panic soon sets in and they think they are doing the right thing by cutting there losses, only for the trade to turn round on them and take them back in to the green zone (if only they had still been in a trade) You probably recognise those symptoms yourself??. I know it was one of my earlier problems.
So if there is anyone here who can stand up and say that every time they put a trade on there isnt a little bit of a gamble in it, then I will show you a trader who knows what is going to happen for sure on the next candle, yeah right, I think not. All that you can do after filtering through all your indis and fundies is come to a decision on the side of PROBABILTY
Good luck in your trades Komissar and I hope we may talk again, also may your pips be green. Now where did I put that Sporting Life
- #122,045
- Feb 19, 2009 6:27pm Feb 19, 2009 6:27pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
I would like to see how you can support this statement. Please share.
Would anyone like to see how I can see what he's stating?
Just digging in the trenches like everyone else!
- #122,047
- Feb 19, 2009 6:31pm Feb 19, 2009 6:31pm
- Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts
I guess he's not going to share.
Would anyone like to see how I can see what he's stating?
I'm game, letter rip!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
- #122,048
- Feb 19, 2009 6:40pm Feb 19, 2009 6:40pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!
- #122,049
- Feb 19, 2009 6:58pm Feb 19, 2009 6:58pm
- Joined Feb 2008 | Status: Trader | 5,732 Posts
Patience + Discipline - Greed = Success
- #122,050
- Feb 19, 2009 7:07pm Feb 19, 2009 7:07pm
- | Joined Aug 2006 | Status: Terrapin Pipper | 1,186 Posts
I will be watching to get out of my shorts and back on the long side, but I will need to see some strong PA before I jump back in. I have shorts from 4300. I've already hit my first TP at 4230, but my next TP is at 4180. If we should pullback to around 426x and hold before going to 4180, I will add to my position and send the troups marching with fresh soldiers. I personally would not open a new position at the current price short until I would see a pullback. There will be some nice movements coming up in the next 2hrs.
Well, here we are again...
my make believe paper, is still holding @1.4208, yeah, i know...
"And your point is Jeff...?!" !!!
What i'm liking to see on my 3hr chart is that nice head & shoulder
played back out, going back up, hitting the greater downward trend,
and back down in line.
-Though, on a three hr chart, it looks like the bottom's been "Stuck",
w/Arrows about 6 times, in the last week. Boy if she breaks,
Great.
Just Check'in in,
Have a great one Eo & Infinity,
-great to hear you all,
Jeff
!
I will work to Objectively Identify my Edges
- #122,052
- Feb 19, 2009 8:24pm Feb 19, 2009 8:24pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
eO buddy!
Well, here we are again...
my make believe paper, is still holding @1.4208, yeah, i know...
"And your point is Jeff...?!" !!!
What i'm liking to see on my 3hr chart is that nice head & shoulder
played back out, going back up, hitting the greater downward trend,
and back down in line.
-Though, on a three hr chart, it looks like the bottom's been "Stuck",
w/Arrows about 6 times, in the last week. Boy if she breaks,
Great.
Just Check'in in,
Have a great one Eo & Infinity,
-great to hear you all,
Jeff
Good to hear from you Jeff! Can't believe your still holding that paper trade from earlier in the week.
I agree, if she breaks, it's going to be like Niagra Falls. Hold on and all seats should be in the upright position with seat belts securely fastened.
It'll be nice to see you back on the intraday, take care of your family first. Currencies will always be here.
Just digging in the trenches like everyone else!
- #122,053
- Feb 19, 2009 8:26pm Feb 19, 2009 8:26pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!
- #122,054
- Feb 19, 2009 8:27pm Feb 19, 2009 8:27pm
- Joined Dec 2008 | Status: Conservative | 2,112 Posts
- #122,055
- Feb 19, 2009 8:29pm Feb 19, 2009 8:29pm
- Joined Dec 2008 | Status: Conservative | 2,112 Posts
- #122,056
- Feb 19, 2009 8:32pm Feb 19, 2009 8:32pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!
- #122,058
- Feb 19, 2009 8:38pm Feb 19, 2009 8:38pm
- Joined Dec 2008 | Status: Conservative | 2,112 Posts
- #122,059
- Feb 19, 2009 8:38pm Feb 19, 2009 8:38pm
- Joined May 2008 | Status: "One for all, and all for one" | 11,228 Posts
Just digging in the trenches like everyone else!