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Cable Update (GBPUSD)

  • #122,701
  • Feb 23, 2009 6:18am Feb 23, 2009 6:18am
[quote=Professor4x;2558014]
Quoting linleysound
Hello. Could you just clarify what 'stack' means exactly for those of us who don't know. Cheers[/q
[color=#1b2b52]A PYRAMID or STACK TRADE is similar to trend trade, while stacking at different break points, with 4:1 Leverage on entry, 2:1 Leverage on break point, and 1:1 Leverage, to create pyramid, while looking for a target. This trade requires good risk management, discipline, and patience, in order for market to hit target. It keeps your initial entry well below market, controlling your risk by adjusting stop...
Cool prof, thanks for that
  • #122,702
  • Feb 23, 2009 6:20am Feb 23, 2009 6:20am
not many sellers yet
Trade less make more!
  • #122,703
  • Feb 23, 2009 6:23am Feb 23, 2009 6:23am
Quoting JammerJams
Short entry at 1.4640 SL: 1.4700 TP 1.4430

taking this down...placing +BE at 1.4620 and lower...
Interesting stuff, your target is 20 pips below my stop so either you win i lose or i win you lose. Time will tell. IF i were a swing trader at these prices a short with tight stop is in play meaning that the pressure on techs is down. But i trend trade and the trend channel resistance is broken creating new channel so expect retracement into old channel but not down to my stop. AFter consolidation a further break out to topside and up channel formation. Market never lies so we will see and makes it more interesting. Thanks for post.
  • #122,704
  • Feb 23, 2009 6:26am Feb 23, 2009 6:26am
Quoting PipLand
Agree with this, I have 1.4660 down as the 38.2 fib of the move from 8th - 23rd Jan
hello

please Pipland ... i just wrote a note to all my friends and to any other people in forum who would like to share experience.

and you have to trade by your self and don't follow anybody

because ... there a lot of traders with different strategies ... about me ... i just trade for a few hours in day from London opening ... to us opening ..

so my advice is in this time frame ... so take care from anyone said any advice even me ... because you don't know what his time frame ,, intrady, swing , which frame ...

anyways all traders wons and i know it couldn't happen
  • #122,705
  • Feb 23, 2009 6:30am Feb 23, 2009 6:30am
Quoting JammerJams
Short entry at 1.4640 SL: 1.4700 TP 1.4430

taking this down...placing +BE at 1.4620 and lower...
same place. different target, 4520 (support trendline)..
  • #122,706
  • Feb 23, 2009 6:32am Feb 23, 2009 6:32am
Quoting JammerJams
Short entry at 1.4640 SL: 1.4700 TP 1.4430

taking this down...placing +BE at 1.4620 and lower...
just placed trade on my live platform as a matter of interest but only used 1 lot so no biggie either way. Left target with 1st post 4430
  • #122,707
  • Feb 23, 2009 6:38am Feb 23, 2009 6:38am
Quoting Professor4x
Interesting stuff, your target is 20 pips below my stop so either you win i lose or i win you lose. Time will tell. IF i were a swing trader at these prices a short with tight stop is in play meaning that the pressure on techs is down. But i trend trade and the trend channel resistance is broken creating new channel so expect retracement into old channel but not down to my stop. AFter consolidation a further break out to topside and up channel formation. Market never lies so we will see and makes it more interesting. Thanks for post.
Well...I am locked in for 20 pips now...
the rest is gravey...
oh...your SL might have been hit...do wish you best..
Never wish any losses for anyone...
  • #122,708
  • Feb 23, 2009 6:40am Feb 23, 2009 6:40am
For all those watching chat you can see that it's possible to have a long and short on same pair with a different strategy. This is great way to have a long term and short term open position at the same time. The longer term position must be lower leverage becasue since it targets wider trading range you must control your equity swing and drawdown. But when your short term trading it's important to have a tigher stop with higher leverage to maximize gain and participate on both sides of market. Great lesson learned about diversification. Carry trades are on as well for long term with gbp/jpy and eur/jpy both are showing great interest yeilds for long term hold.
  • #122,709
  • Feb 23, 2009 6:42am Feb 23, 2009 6:42am
Quoting JammerJams
Well...I am locked in for 20 pips now...
the rest is gravey...
oh...your SL might have been hit...do wish you best..
Never wish any losses for anyone...
When we enter a trade plan it is written in stone and we move on to next. If we move our stop or target during trade we had no plan at all. Also makes trading alot more fun because we know exactly what risk is taken and what reward to expect so no surprises and keeps us in complete control of our account balance.
  • #122,710
  • Feb 23, 2009 6:45am Feb 23, 2009 6:45am
Quoting deboooo2005
hello

please Pipland ... i just wrote a note to all my friends and to any other people in forum who would like to share experience.

and you have to trade by your self and don't follow anybody

because ... there a lot of traders with different strategies ... about me ... i just trade for a few hours in day from London opening ... to us opening...
Hey Debooo, I wasnt sure exactly what you meant. If it was to advise us to be carefull of other peoples calls as we all trade different time frames then this is good advice.

I personally look at daily 4hr and 1hr and use 15mins for entry. I mostly try to target big moves 200 pips but I usually bail out earlier than this if the market is indicating to me that its turning. Thats my style anyway. Once the market starts trending better I shall go back to adding to my positions instead of closing them up completely but in this market you have to take what you can get as its ranging a lot
  • #122,711
  • Edited 6:58am Feb 23, 2009 6:48am | Edited 6:58am
Quoting Professor4x
For all those watching chat you can see that it's possible to have a long and short on same pair with a different strategy. This is great way to have a long term and short term open position at the same time. The longer term position must be lower leverage becasue since it targets wider trading range you must control your equity swing and drawdown. But when your short term trading it's important to have a tigher stop with higher leverage to maximize gain and participate on both sides of market. Great lesson learned about diversification. Carry trades...
My SL was hit with profit... +30 pips
Next entry is below the upward trend line
Short entry: 1.4560 SL: 1.4660 TP: 1.4430

not entered yet...still waiting for candle below trendline...manual entry...

Assumption: price action drops in steady decline...triggers manual entry order.
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  • #122,712
  • Feb 23, 2009 6:48am Feb 23, 2009 6:48am
Well, if the uptrend channel of M15 will be broken with other confluence of events like hammers and the support lines, Prof may be rigth, if not , those in longs will look good. As i am writting this i think its broken!
  • #122,713
  • Feb 23, 2009 6:51am Feb 23, 2009 6:51am
Quoting JammerJams
My SL was hit with profit... +30 pips
Next entry is below the upward trend line
Short entry: 1.4560 SL: 1.4660 TP: 1.4430
Not sure why you exited your short trend trade already expect you must use a trailer. Trailers work best on swing or day trades so apparently that is your style. Will stay with my stop at 1.47 and target 4430. Just for interest.
  • #122,714
  • Feb 23, 2009 6:55am Feb 23, 2009 6:55am
Quoting goodwings
Well, if the uptrend channel of M15 will be broken with other confluence of events like hammers and the support lines, Prof may be rigth, if not , those in longs will look good. As i am writting this i think its broken!
My average time frame for holding trades is 14 hours so alot will happen in between but like my plan because its very hard to get in at bottom and sell at top. Everyone that nickel and dimes this market normally beat them selves up because they miss more trades than they catch. My trade is well within range of market and just have to wait for results. In the meantime i will throw some entries if techs are signal clearly when to enter. But totally will stick to original post on long postion.
  • #122,715
  • Feb 23, 2009 6:55am Feb 23, 2009 6:55am
hi again as i told if didn't break 1.4665 we may see corrective ... i short @ 1.4658 and if 1.4557 or 1.4554 couldn't hold ... i'll leave it open
  • #122,716
  • Feb 23, 2009 6:56am Feb 23, 2009 6:56am
Prof,
  • #122,717
  • Feb 23, 2009 6:57am Feb 23, 2009 6:57am
Prof,
I think it will break 1.4650 area ang go to 1.4690
  • #122,718
  • Feb 23, 2009 6:59am Feb 23, 2009 6:59am
Thanks Professor4x, i only wished i entered with my standard acc. I did that with my mini!
Jammerjams is a good macth for you. He makes me really think....but my system is more like yours.
  • #122,719
  • Feb 23, 2009 7:00am Feb 23, 2009 7:00am
I have the 4hr candle looking to close below 4600. My bearish bias remains unless this line is broken
Thank You
  • #122,720
  • Feb 23, 2009 7:01am Feb 23, 2009 7:01am
Quoting goodwings
Thanks Professor4x, i only wished i entered with my standard acc. I did that with my mini!
Jammerjams is a good macth for you. He makes me really think....but my system is more like yours.
and we wil make jammer think. Sounds like the making of reality tv show. Trade to Survive!!
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