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Cable Update (GBPUSD)

  • #135,981
  • Jun 8, 2009 8:48am Jun 8, 2009 8:48am
Quoting ubaidahsan
i took 1st sell at 6201 second from 5950 and holding buy from 5910 so what to do close that buy or wait for 6030 level???already moved SL of buy at 5940 so what do you suggest now

Ub
Remeber, more trade you do, more risk you put your account into.. Greater Risk, greater loss.. Really keep that in mind, try to make each trade meaningful bro.. I'm not an expert, just want to share my mistakes...
  • #135,982
  • Jun 8, 2009 8:48am Jun 8, 2009 8:48am
Quoting c2v4l
Just cash in whatever profit you have now. If you are unsure of where it's going to go next, you might lose all those profits.
and what to do with shorts??hold it???or what???


Ub
  • #135,983
  • Jun 8, 2009 8:52am Jun 8, 2009 8:52am
Quoting mloistianto
Remeber, more trade you do, more risk you put your account into.. Greater Risk, greater loss.. Really keep that in mind, try to make each trade meaningful bro.. I'm not an expert, just want to share my mistakes...
bro i faced that risk already still facing until market won't go atleaset 300-400 points more i can't out from stress in my one of account my cousin traded and he stucked that account he took short from 4930,5300 and he was stuck and i was working on that account now acount is fine before that i locked that account and waiting to go market at 5700-5300 so then that account will be fine and safe but now SL is req for all trades i got lesson from that account and trying my level best to get out in profit from that account...so now i understand the risk trying to be professional trader

Ub
  • #135,984
  • Jun 8, 2009 8:54am Jun 8, 2009 8:54am
Quoting ubaidahsan
and what to do with shorts??hold it???or what???


Ub
Close out all your positions and regroup, When in doubt sit on the side. Looks like you won't get dinged if you close your short here and bag the profit
  • #135,985
  • Jun 8, 2009 9:00am Jun 8, 2009 9:00am
Quoting currencyexch
Close out all your positions and regroup, When in doubt sit on the side. Looks like you won't get dinged if you close your short here and bag the profit
hmm so if i'll close so how do i get more profit as everyone is saying that market could go till 5300?so what will be better to wait or close..if i'll close so again i will sit and will see that market is going and there will be no chance to earn?

Ub
  • #135,986
  • Jun 8, 2009 9:01am Jun 8, 2009 9:01am
Quoting 4cfx
Wish I had waited now!. Added at 1.5975 and another pending at 5995. Let's see. Enjoy yourself and thanks again for your help man.
Managed to get out with 70pips profit.

I agree with Jack that there's room to go up more as the correction just seems too shallow. I'm done now for the day so see you all later.
  • #135,987
  • Jun 8, 2009 9:04am Jun 8, 2009 9:04am
Quoting ubaidahsan
hmm so if i'll close so how do i get more profit as everyone is saying that market could go till 5300?so what will be better to wait or close..if i'll close so again i will sit and will see that market is going and there will be no chance to earn?

Ub
I thought you were profitable on your longs. Now your short is in the hole 30 pips, 20 more then the last post
  • #135,988
  • Jun 8, 2009 9:06am Jun 8, 2009 9:06am
Quoting ubaidahsan
hmm so if i'll close so how do i get more profit as everyone is saying that market could go till 5300?so what will be better to wait or close..if i'll close so again i will sit and will see that market is going and there will be no chance to earn?

Ub

You can always set up for breakout and pullback to the downside later. Right now we've been in no mans land for a while
  • #135,989
  • Jun 8, 2009 9:09am Jun 8, 2009 9:09am
looking like a short squeeze coming...
  • #135,990
  • Jun 8, 2009 9:13am Jun 8, 2009 9:13am
potential channel resistance on 1h chart.
  • #135,991
  • Jun 8, 2009 9:16am Jun 8, 2009 9:16am
Quoting HotPips
looking like a short squeeze coming...
what should be TP if someone shorts at 5990?
  • #135,992
  • Jun 8, 2009 9:19am Jun 8, 2009 9:19am
Quoting alex1976
potential channel resistance on 1h chart.
Depends on where you set the line. I have it already breaking the UTL. Of course if I redraw and include the spike of 6/4/09 puts resistance at 1.6004. That doesn't jive with any of the retace numbers I would have at 1.6030. That's why I'm on the sideline, need more direction
  • #135,993
  • Jun 8, 2009 9:19am Jun 8, 2009 9:19am
I'm short @ 5994 I'm on breakeven, many things in our favor, sm, comodities, the only bad thing is sentiment. There could be a short squeeze as everyone is short.
  • #135,994
  • Jun 8, 2009 9:25am Jun 8, 2009 9:25am
Quoting HotPips
I'm short @ 5994 I'm on breakeven, many things in our favor, sm, comodities, the only bad thing is sentiment. There could be a short squeeze as everyone is short.
I think you're ok there as I'm thinking 1.6030 is tops. Was also thinking of going short here and scale in
  • #135,995
  • Jun 8, 2009 9:26am Jun 8, 2009 9:26am
i think we are some where at the top point of to day, trading, for me, i will let the short floating till the next 12 hours.
newbies yang minat nak belajar forex, sila ym saya, ym: ammal007
  • #135,996
  • Jun 8, 2009 9:26am Jun 8, 2009 9:26am
out @ breakeven hehe
  • #135,997
  • Jun 8, 2009 9:32am Jun 8, 2009 9:32am
6060 looks like the top of the channel....
  • #135,998
  • Jun 8, 2009 9:35am Jun 8, 2009 9:35am
booked 20 pips here, on my short @ 6031, i just don't trust this.
  • #135,999
  • Jun 8, 2009 9:35am Jun 8, 2009 9:35am
Quoting ammal07
i think we are some where at the top point of to day, trading, for me, i will let the short floating till the next 12 hours.
What Tp you are targetting at and on what grounds?
  • #136,000
  • Jun 8, 2009 9:36am Jun 8, 2009 9:36am
Think we see a retest of the high then south she goes!!
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