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Cable Update (GBPUSD)

  • #140,341
  • Jun 25, 2009 9:34pm Jun 25, 2009 9:34pm
Quoting iqyusan
already protect 100 pips, running 14x pips, TP 6535 .....
Good luck bro
  • #140,342
  • Jun 25, 2009 9:35pm Jun 25, 2009 9:35pm
Evening everyone .. i was on a little vacation visiting my old roomates back in my university town and havent been posting much.

Ill see some of you tomorrow for the NY session around 730 am EST.

Good luck tonight!
  • #140,343
  • Jun 25, 2009 9:52pm Jun 25, 2009 9:52pm
Quoting Just20pips
Good luck bro
... just wanna trade my yesterday plan >>> http://www.forexfactory.com/showthre...71569&page=116

I dont know what i'm doing
  • #140,344
  • Jun 25, 2009 9:56pm Jun 25, 2009 9:56pm
Quoting Ferick
Lo and behold, it was a shallow pullback. +123 Pips in the money so far. Next up, 1.6470. I am very generous tonight- only targeting 1.6540.
Decided to exit at 1.6423 with +110 Pips. No longer feel confident about the move N beyond 1.6470 and I want to sleep. Good luck everyone.
  • #140,345
  • Edited 10:18pm Jun 25, 2009 10:05pm | Edited 10:18pm
Quoting Nisda_
Salam grashid,

So, you are still trading this week?
I'm with you sir, but I think it will try to retest again at 1.66 BE..but i"m out today. Yesterday managed to long from 1.6244 for 100pips for today record.
as i say..yesterday till next week NFP is my resting day...i could be wrong so check with your chart and post and ask for some comment..Good Luck
  • #140,346
  • Jun 25, 2009 11:08pm Jun 25, 2009 11:08pm
Does anyone know if there is way to measure Market Depth in FX? Can you visually see the orders? How many @ whatever price and the size of the order.

I see people say buyers/sellers lining up at certain levels. How do you see this? Are you using S/R levels and Volume?

I have no idea.

Cheers
  • #140,347
  • Jun 25, 2009 11:23pm Jun 25, 2009 11:23pm
if u get an answer to this ?please tell the world,Mike in Michigan
  • #140,348
  • Jun 25, 2009 11:30pm Jun 25, 2009 11:30pm
Quoting torcuswelby
if u get an answer to this ?please tell the world,Mike in Michigan
Comming from an equity trading background where Market Depth is a good measure of market I struggle with FX without it.

I understand because there is no central exchange for FX, its hard to measure Market Depth.

Confused
  • #140,349
  • Jun 25, 2009 11:37pm Jun 25, 2009 11:37pm
Quoting pjpipster
Does anyone know if there is way to measure Market Depth in FX? Can you visually see the orders? How many @ whatever price and the size of the order.

I see people say buyers/sellers lining up at certain levels. How do you see this? Are you using S/R levels and Volume?

I have no idea.

Cheers
People are saying these when they see how price react at certain s/r levels. ie strong rejection at support level (strong presence of buyers) vice versa. That's why it is ultra important to wait till price gets to a certain s/r level & wait for the reaction before placing an order. Sound traders always wait for confirmation. Poor traders always assume.
Btw, having identified major s/r levels and price action understanding is about the only thing you need technically to trade. Put more effort in managing risk.

Good luck
Thank You
  • #140,350
  • Jun 25, 2009 11:45pm Jun 25, 2009 11:45pm
Wormboy, are you still staying out until 4h range is broken, or are you gonna take a trade in todays uk session?

Im thinking buy on a retracement as were going back to test 6600!
  • #140,351
  • Jun 25, 2009 11:46pm Jun 25, 2009 11:46pm
Quoting pjpipster
Does anyone know if there is way to measure Market Depth in FX? Can you visually see the orders? How many @ whatever price and the size of the order.

I see people say buyers/sellers lining up at certain levels. How do you see this? Are you using S/R levels and Volume?

I have no idea.

Cheers
pm me.... i can respond to this
Blogging daily now at www.volume.zone
  • #140,352
  • Jun 25, 2009 11:49pm Jun 25, 2009 11:49pm
Quoting wormboy
People are saying these when they see how price react at certain s/r levels. ie strong rejection at support level (strong presence of buyers) vice versa. That's why it is ultra important to wait till price gets to a certain s/r level & wait for the reaction before placing an order. Sound traders always wait for confirmation. Poor traders always assume.
Btw, having identified major s/r levels and price action understanding is about the only thing you need technically to trade. Put more effort in managing risk.

Good luck
Thanks Wormboy,

Your knowledge and and words are truely respected.
  • #140,353
  • Jun 25, 2009 11:51pm Jun 25, 2009 11:51pm
Quoting alex1976
Wormboy, are you still staying out until 4h range is broken, or are you gonna take a trade in todays uk session?

Im thinking buy on a retracement as were going back to test 6600!
Hi alex yes I'm still staying out. I had my sell PO triggered yesterday but I had closed the trade since to reduce the loss after confirmation that h4 ltl is still intact. Here was the trade : http://www.forexfactory.com/showpost...postcount=1502

I have only been trading dragon this past week in the absence of trading cable. I can wait.

Good luck with your trading
Thank You
  • #140,354
  • Jun 25, 2009 11:56pm Jun 25, 2009 11:56pm
there is no thing as market depth on the platforms that most of us trade off. There are professional ecn style platforms that show the depth of the market either side of price point. I think account min is 250 k . I looked into one once , but did not have the required capital.

I use vsa. I do not really want to post this openly as there are certain muppets (aka sycho) in forex factory that do not deserve me sharing my knowledge with them .

However one person should not spoil it for the rest

here is a chart that reads like a book.... if you know how to read it. I have marked it up best I can

Attached Image (click to enlarge)
Click to Enlarge Name: ym6.png Size: 283 KB
Blogging daily now at www.volume.zone
  • #140,355
  • Jun 25, 2009 11:57pm Jun 25, 2009 11:57pm
Wormboy, why don't you like ranges?
  • #140,356
  • Jun 26, 2009 12:13am Jun 26, 2009 12:13am
Quoting malcolmb14
there is no thing as market depth on the platforms that most of us trade off. There are professional ecn style platforms that show the depth of the market either side of price point. I think account min is 250 k . I looked into one once , but did not have the required capital.

I use vsa. I do not really want to post this openly as there are certain muppets (aka sycho) in forex factory that do not deserve me sharing my knowledge with them .

However one person should not spoil it for the rest

here is a chart that reads like a book.... if you know...
Greetings...
Dude.. your graph view attaract me >.< would you mind if you share it with us your technical skills? together with your template ..
P/s : sorry if my english make you confuse.. Im not english expert.. >.<
  • #140,357
  • Jun 26, 2009 12:13am Jun 26, 2009 12:13am
Quoting alex1976
Wormboy, why don't you like ranges?
Because since the day I started trading the only way that I've traded is with the trend. And I have stuck with it since.
And the consolidation period on cable this time around is unthinkable to be honest. Never thought I'd have to wait this long for a breakout lol. And rightfully I'll admit that I've missed out on making quite a good amount from this range, but since I'm not losing any, I guess no harm done.
Thank You
  • #140,358
  • Jun 26, 2009 12:20am Jun 26, 2009 12:20am
Quoting wormboy
Because since the day I started trading the only way that I've traded is with the trend. And I have stuck with it since.
And the consolidation period on cable this time around is unthinkable to be honest. Never thought I'd have to wait this long for a breakout lol. And rightfully I'll admit that I've missed out on making quite a good amount from this range, but since I'm not losing any, I guess no harm done.

I like your approach to trading Wormboy!

I can learn a lot from veterans like yourself!
  • #140,359
  • Jun 26, 2009 12:25am Jun 26, 2009 12:25am
Quoting alex1976
I like your approach to trading Wormboy!

I can learn a lot from veterans like yourself!
The only thing to learn is self control

Okay buddy you have a good one, be back later.
Thank You
  • #140,360
  • Jun 26, 2009 12:29am Jun 26, 2009 12:29am
Quoting pjpipster
Comming from an equity trading background where Market Depth is a good measure of market I struggle with FX without it.

I understand because there is no central exchange for FX, its hard to measure Market Depth.

Confused
Get ECN account, interactive brokers requires 10k and shows market depth (I have used them in the past), mbtrading requires less and provides market depth (as far as I know) too.

The market is not centralized so you see only a portion of the total market - you could also use currency futures.
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