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Cable Update (GBPUSD)

  • #143,201
  • Jul 6, 2009 12:39pm Jul 6, 2009 12:39pm
I'm taking a short shot here @ 6262. Tight stop though. Just playing with this one.....
Ghost Rider - WWTBMD?
  • #143,202
  • Jul 6, 2009 12:39pm Jul 6, 2009 12:39pm
My message dissappeared.
  • #143,203
  • Jul 6, 2009 12:41pm Jul 6, 2009 12:41pm
I will add to my short here as I take my morning long off. There is 76 % Fib level, 4hr UTL and a Major 4 hr DTL all converging here at the 1.6270 area.

Ne
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  • #143,204
  • Jul 6, 2009 12:41pm Jul 6, 2009 12:41pm
Quoting roreki
i added one now @ 1.6263 ,, i think it will go down from there
Watch the soldiers.
Good luck with your trades.
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Thank You
  • #143,205
  • Jul 6, 2009 12:41pm Jul 6, 2009 12:41pm
I made one of the biggest mistakes today...no not a loss but did not take my profits...knowing that cable has done this over 10 times now...I have just put my limits to to 315 was shorting all the way from 520.....but now am looking at the picture...and does not please me at all....Thought the trend was broken but this is too big a retracement for me to handle...looks like 315 will be a bullish reversal....and will take my 210 pips instead of 400 pips slap on the wrist for me....

Also hedged long but came out for a nasty 10 pips.....

I have had enough for trading today

Good Luck all

Yep...Quote of the day Geppy the looser...lol
Let Price determine your future!
  • #143,206
  • Jul 6, 2009 12:43pm Jul 6, 2009 12:43pm
Adding a short @ 1.6253 (still holding short @ 1.64).
  • #143,207
  • Jul 6, 2009 12:43pm Jul 6, 2009 12:43pm
Quoting jack.canadia
Old support, a trendline and a fib or two in there depending on where u draw it from

last line of defence for mee
Nicely drawn.

May not close above this trendline on this hourly close. Price action in the next hour should be key.
  • #143,208
  • Jul 6, 2009 12:44pm Jul 6, 2009 12:44pm
I am now out of all trades except my ex amount of lots at 520....which means only 10 % of my positions profits have been taken and no trading till friday or break even

Good Luck

GeppyG
Let Price determine your future!
  • #143,209
  • Jul 6, 2009 12:44pm Jul 6, 2009 12:44pm
Quoting Geppyg
I made one of the...
Profit's profit bro. Don't sweat it
Thank You
  • #143,210
  • Jul 6, 2009 12:46pm Jul 6, 2009 12:46pm
Quoting Geppyg
I made one of the biggest mistakes today...no not a loss but did not take my profits...knowing that cable has done this over 10 times now...I have just put my limits to to 315 was shorting all the way from 520.....but now am looking at the picture...and does not please me at all....Thought the trend was broken but this is too big a retracement for me to handle...looks like 315 will be a bullish reversal....and will take my 210 pips instead of 400 pips slap on the wrist for me....

Also hedged long but came out for a nasty 10 pips.....

I have...
Geppy, you're no loser as long as you stuck to your plan. And it is under my assumption that your plan was for cable to tank after it broke down below the channel.
  • #143,211
  • Jul 6, 2009 12:49pm Jul 6, 2009 12:49pm
Quoting Ipips
Geppy, you're no loser as long as you stuck to your plan.
I agree. Not to mention that in Forex, even BE is a win...
Ghost Rider - WWTBMD?
  • #143,212
  • Jul 6, 2009 12:50pm Jul 6, 2009 12:50pm
I saw a lot of profit...and made the biggest mistake....of greed..yep..totally have to say it something that I need to learn...I have had the patience in the last 7 months to see mega losses and have converted them into profit brov because i dont scalp at all I swing ...but trying to swing cable has been very hard in the last 2 months....

Brov...I know I am babbling...but to be honest feel really gutted that I made such an amateur mistake...back to the drawing board.....

Thanks for your comments..

Wormboy.....Hope your trading plan is working....
Let Price determine your future!
  • #143,213
  • Jul 6, 2009 12:55pm Jul 6, 2009 12:55pm
Quoting Geppyg
I saw a lot of profit...and made the biggest mistake....of greed..yep..totally have to say it something that I need to learn...I have had the patience in the last 7 months to see mega losses and have converted them into profit brov because i dont scalp at all I swing ...but trying to swing cable has been very hard in the last 2 months....

Brov...I know I am babbling...but to be honest feel really gutted that I made such an amateur mistake...back to the drawing board.....

Thanks for your comments..

Wormboy.....Hope your trading plan is working.......
Again, the question to ask yourself is "did you follow your plan?" If you didn't follow or did not have a plan, then yes, you have made a mistake.

If you had a plan and followed it, why should you be blaming yourself?
  • #143,214
  • Jul 6, 2009 1:00pm Jul 6, 2009 1:00pm
i have it on 1.6232 sell price it will go to 1.6170 any comment...?
  • #143,215
  • Jul 6, 2009 1:01pm Jul 6, 2009 1:01pm
Okay, I'm off to bed.

Not a good trading day for me with these wild swings in the cable. Hopefully we can have some clear direction tomorrow. Take care and good trading~
  • #143,216
  • Jul 6, 2009 1:02pm Jul 6, 2009 1:02pm
Quoting Geppyg
I saw a lot of profit...and made the biggest mistake....of greed..yep..totally have to say it something that I need to learn...I have had the patience in the last 7 months to see mega losses and have converted them into profit brov because i dont scalp at all I swing ...but trying to swing cable has been very hard in the last 2 months....

Brov...I know I am babbling...but to be honest feel really gutted that I made such an amateur mistake...back to the drawing board.....

Thanks for your comments..

Wormboy.....Hope your trading plan is working.......
It's not amateur. I saw a lot of profit earlier myself. Look where the trade was closed out :
http://www.forexfactory.com/showpost...postcount=1618

So what if you get stopped out at +ve. You bloody got paid man!
You're just doing what many people can preach but rarely do. (letting profit run). Lol not run in the wrong way btw. It's a step in the right direction bro, don't worry about it. You are managing your trades right as far as I'm concerned. You didn't overtrade did you? Less stressful was it not?

Cheers bro, take it easy, it's only Monday & you've made some good returns so enjoy the moment
Thank You
  • #143,217
  • Jul 6, 2009 1:02pm Jul 6, 2009 1:02pm
Quoting jack.canadia
damn i should have kept that damn long from 6115 lol..

two shorts now that i will cut off at 6300. for now im holding 6230 and 6265.
Jack,
Was thinking 6300 would be the best price to place a short instead of exiting the other short.

If it breaks above, then can of course exit 'cos it may be heading for the 6400
In all your ways acknowledge Him and He will direct your path.
  • #143,218
  • Jul 6, 2009 1:06pm Jul 6, 2009 1:06pm
I`m short at 1.6244, TP at 1.61 , at this point, If it bounces I`ll buy for a climb to 1.6420 = 50 % fib retracement . If 1.61 is taken , I`ll sell it ,1.58 would be my target.
Don`t follow me, this is just my plan and I could be wrong.
I`ve been wrong before,and I may be wrong again.
  • #143,219
  • Jul 6, 2009 1:13pm Jul 6, 2009 1:13pm
Quoting OmegaFire
Jack,
Was thinking 6300 would be the best price to place a short instead of exiting the other short.

If it breaks above, then can of course exit 'cos it may be heading for the 6400

I agree Omega...I don't trust these shorts
Hero Traders Live to see their Accounts Die!
  • #143,220
  • Jul 6, 2009 1:16pm Jul 6, 2009 1:16pm
Quoting simoneg
I agree Omega...I don't trust these shorts
Im holding and on a strong break of 6300 ill close.
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