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Cable Update (GBPUSD)

  • #144,201
  • Jul 8, 2009 8:41am Jul 8, 2009 8:41am
Guys , need some advs here ,
do you guys using trailing stop ??points???
course went im using it , usually its reach my SL 1st before Target TP ....
  • #144,202
  • Jul 8, 2009 8:41am Jul 8, 2009 8:41am
Quoting albchr
Right Idea Jack, just a little too soon....

Long 2 lots...6025
ya 6030 is also the daily 55 SMA too
  • #144,203
  • Jul 8, 2009 8:43am Jul 8, 2009 8:43am
Quoting jack.canadia
enjoy some draw downs .. u should have shorted near 61oo

oh well

Canad yes I could, but what would I guarantee?

You really believed that it could fall, disregard the chance to climb?

Dangerous.
  • #144,204
  • Jul 8, 2009 8:43am Jul 8, 2009 8:43am
Quoting medsfx
Guys , need some advs here ,
do you guys using trailing stop ??points???
course went im using it , usually its reach my SL 1st before Target TP ....
No and for that exact reason. You trail will either be to short so you get stopped out on the small pullbacks or to long that it wouldnt be worth the risk reward.
  • #144,205
  • Jul 8, 2009 8:44am Jul 8, 2009 8:44am
1.6175-1.6200 then ill be ok with shorting to ur 1.5900 #
  • #144,206
  • Jul 8, 2009 8:45am Jul 8, 2009 8:45am
I simply cant see any reason to long right now.....what am I missing?
  • #144,207
  • Jul 8, 2009 8:46am Jul 8, 2009 8:46am
Quoting Andre88
Canad yes I could, but what would I guarantee?

You really believed that it could fall, disregard the chance to climb?

Dangerous.
shorting after a spike down is nonsense... you are sitting what -20 right now? id be shitting myself
  • #144,208
  • Jul 8, 2009 8:46am Jul 8, 2009 8:46am
Quoting Andre88
Canad yes I could, but what would I guarantee?

You really believed that it could fall, disregard the chance to climb?

Dangerous.
i was thinking about 1.61 to short back when it was there i would have been fine with it but i would have expected to be negative of a while. but who knows....
  • #144,209
  • Jul 8, 2009 8:47am Jul 8, 2009 8:47am
Quoting Zuke
I simply cant see any reason to long right now.....what am I missing?
no one is saying long

we did hit some more support at 6030 though, and 1.60 is a biggie too
  • #144,210
  • Jul 8, 2009 8:47am Jul 8, 2009 8:47am
Quote
I used to trade on feelings but changed to trading on probabilities instead. Infinitely less stressful

Well said Zuke... and SOOOO true!
  • #144,211
  • Jul 8, 2009 8:47am Jul 8, 2009 8:47am
Quoting RichLadyFX
Almost there, Slayer.
lol.
Thank You
  • #144,212
  • Jul 8, 2009 8:47am Jul 8, 2009 8:47am
jack what or how much do u risk per trade???? if u dont mind me asking
  • #144,213
  • Jul 8, 2009 8:48am Jul 8, 2009 8:48am
Quoting Andre88
Canad yes I could, but what would I guarantee?

You really believed that it could fall, disregard the chance to climb?

Dangerous.
I think what Jack means is that 1.6030 is not an optimal level to place a new short entry, especially after how fast it fell.

If you meant it as a scalp then that's fine. If you're swing trading longer timeframe, then that's not so wise.
  • #144,214
  • Jul 8, 2009 8:49am Jul 8, 2009 8:49am
is anyone else long by chance or am i a lone wolf
  • #144,215
  • Jul 8, 2009 8:50am Jul 8, 2009 8:50am
Quoting tjhimself
jack what or how much do u risk per trade???? if u dont mind me asking
max 20-30 pips .. i dont deal with percentages of my account
  • #144,216
  • Jul 8, 2009 8:51am Jul 8, 2009 8:51am
Quoting wormboy
lol.
i took a look at ur dragon .. i cant wait to short it at 153
  • #144,217
  • Jul 8, 2009 8:51am Jul 8, 2009 8:51am
Quoting jack.canadia
shorting after a spike down is nonsense... you are sitting what -20 right now? id be shitting myself
Shorting a breakout after the spike is different from shorting during the spike. If people are entering a candle/bar that is moving then they are going to get punished. If the candle has closed and you set up a short then IMO thats a smarter way of trading.

For example I traded the breakout of the previous hours pin bar, I didnt get in before hand incase the bar ended up a completely full bullish bar, the story told in the bar would have been completely different and my trade set up wouldnt have existed.

In the end you will be right some wrong others but thats the nature of trading. Taking opportunities as they present themselves and trading them to your plan

Razor
  • #144,218
  • Jul 8, 2009 8:51am Jul 8, 2009 8:51am
Quoting jack.canadia
max 20-30 pips .. i dont deal with percentages of my account
thanks but do u ever have long tern trades
  • #144,219
  • Jul 8, 2009 8:53am Jul 8, 2009 8:53am
Quoting tjhimself
is anyone else long by chance or am i a lone wolf
Probably alone.......
  • #144,220
  • Jul 8, 2009 8:54am Jul 8, 2009 8:54am
Quoting jack.canadia
i took a look at ur dragon .. i cant wait to short it at 153
it ain't going back to 153 anytime soon.
Thank You
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