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Cable Update (GBPUSD)

  • #144,861
  • Jul 9, 2009 1:19pm Jul 9, 2009 1:19pm
Quoting alex1976
Navin, Well based on what we have both said, price is now going north in the near term, thats where price is going and nothing suggests anything different!


So I would say look to buy a dip, some point after the daily candle closes the way it is (assuming it does'nt turn into a hammer)

Right now that whole short view from Monday till yesterday can be thrown out, cause now we are going north, until further notice!
agree
Attached Image (click to enlarge)
Click to Enlarge Name: trade.gif Size: 31 KB
  • #144,862
  • Jul 9, 2009 1:19pm Jul 9, 2009 1:19pm
Quoting Turveyd
Really definately Mine not the thread starter ???

Really Really, I gave up on that system awhile ago, although it worked it didn't suite how I trade so I've got a new 1 that wipes that 1 easy

Try it with these SMA's M1 20SMA Smoothed and 100 SMA Smoothed, those Smoothed SMA's out perform my previous SMA's hugely.
I'm not an MA Basher but I do have to ask;
Why do you feel an average over the last 20 Minutes & 100 Minutes on a 1 Minute Chart would give you any pertinent insight into projection?
Is it perhaps due to your "Smoothing Factor"?
  • #144,863
  • Jul 9, 2009 1:19pm Jul 9, 2009 1:19pm
Quoting Pak Tiger
wow! What a recovery by Cable today. Its a great sigh of relief for someone who has long at 1.67 without any stop losses :-)



Very well said Jack! Gotta agree with you! I was quite depressed yesterday when i was hearing the voices of 1.5800 and down, its always good to go with you own methods/systems and your own decision rather than jumping on the band wagon!
wow...well bro we are waiting for 53xx-58xx sinec last month but now until it won't reach there it can't go up more but please be careful it could go there by monday or may be tomorrow....best of luck...and remmber if you see any sign so close your trade or lock your account ...but from next time must use SL...b ecause i am one trader who losted 5k last year without SL...


Ub
  • #144,864
  • Jul 9, 2009 1:23pm Jul 9, 2009 1:23pm
Quoting alexandru987
Just show him your system.(the KISS one)

I`ve been using it for a month now and it`s the best system for me...

Even in the worse days you get some pips... all you need to do is keep your greed in check and take a few pips at a time. Max loss i got using this in a day was like 20 pips... max win aprox. 150 pips.

So thank you man for sharing!

Green pips!

What is the KISS system you are using?
  • #144,865
  • Jul 9, 2009 1:26pm Jul 9, 2009 1:26pm
Can anyone tell me if successful forex traders today, lost a decent amount of money when they first started, before they eventually became profitable?
  • #144,866
  • Jul 9, 2009 1:26pm Jul 9, 2009 1:26pm
dayly just hit resistance @ 6375 so a close a bove that we should think 66xx again but this pairs should retrace at least 75-100 pips be4 go up i guess.


Angelina.
  • #144,867
  • Jul 9, 2009 1:27pm Jul 9, 2009 1:27pm
Quoting alex1976
Can anyone tell me if successful forex traders today, lost a decent amount of money when they first started, before they eventually became profitable?
i was short at first hit resistance 6375 and target 45 pips to 6330 and got it check my post be4 and i wait next retrace to decide long or short.

GoodLuck Alex


Angelina.
  • #144,868
  • Jul 9, 2009 1:28pm Jul 9, 2009 1:28pm
Quoting Angelina
dayly just hit resistance @ 6370 so a close a bove that we should think 66xx again but this pairs should retrace at least 75-100 pips be4 go up i guess.


Angelina.
Why do you say 75-100? Is it based in Previous Retrace Ratios or do you have some support listed there? If so, could you explain please?
  • #144,869
  • Jul 9, 2009 1:32pm Jul 9, 2009 1:32pm
dunno what kind of trader am i but i just short @ 163.40 stop loss @ 164.50 my tp back to 161.75 just my feeling , after my buying hit tp now come back with my selling, although its a litle bit surprising with gu hit 1.6390 today , i thought it would be the tomorrow candles stick closing just my feeling. so i'm selling now pls go down gu
Just Newbie Need Guidance From The Expert
  • #144,870
  • Jul 9, 2009 1:33pm Jul 9, 2009 1:33pm
Quoting Bemac
I'm not an MA Basher but I do have to ask;
Why do you feel an average over the last 20 Minutes & 100 Minutes on a 1 Minute Chart would give you any pertinent insight into projection?
Is it perhaps due to your "Smoothing Factor"?

I'm using them as S/R and trend direction pretty unique maybe but it's working for Alex without the Smoothed SMA's.

Complicated to explain, don't know why the smoothing allowed me to find SMA's that back curve tested so much better that are working live but hey not complaining. I guess this setup is in favour banks wise maybe ??

23sma smoothed currently sorry, been tweaking.

Add Envelopes, 23 smoothed 0.16% and 100 smoothed 0.40%


Add the template to a GU chart and see if it holds for you.
Attached File(s)
File Type: tpl latest kiss.tpl   13 KB | 286 downloads
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #144,871
  • Jul 9, 2009 1:35pm Jul 9, 2009 1:35pm
Quoting wormboy
Why are you taking the piss 300 pips AFTER the move?

Can you point out to me where the next top / bottom is?
Never said i took the move. Just saying buying after it has gone up this far is a reciepe for disaster.

Does that float your melon?
  • #144,872
  • Jul 9, 2009 1:36pm Jul 9, 2009 1:36pm
Quoting Bemac
Why do you say 75-100? Is it based in Previous Retrace Ratios or do you have some support listed there? If so, could you explain please?
Yes Bemac, i based on previous retrace ratios.

Angelina.
  • #144,873
  • Jul 9, 2009 1:36pm Jul 9, 2009 1:36pm
Quoting alex1976
Can anyone tell me if successful forex traders today, lost a decent amount of money when they first started, before they eventually became profitable?

Thats standard I'm afraid, just keep it minimal but Demo trading doesn't work for me, so I just keep topping up £100 when required keep it at hobby money.

nearly 5 years in here, been profitable then lost it a few times, profitable again currently, but will see how long for

So it's a long game, with great rewards.

* I'll add, I'm lazy I started 5 years ago, but only really been making a effort since March *
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #144,874
  • Jul 9, 2009 1:39pm Jul 9, 2009 1:39pm
What a day for cable! Best gains in weeks!

But I won't get suckered into any long by the wonky market action today. Scouting for good levels to short cable, short stocks, long $VIX. I smell a rat...
  • #144,875
  • Jul 9, 2009 1:39pm Jul 9, 2009 1:39pm
Quoting ubaidahsan
wow...well bro we are waiting for 53xx-58xx sinec last month but now until it won't reach there it can't go up more but please be careful it could go there by monday or may be tomorrow....best of luck...and remmber if you see any sign so close your trade or lock your account ...but from next time must use SL...b ecause i am one trader who losted 5k last year without SL...


Ub
Gotcha bro!! Definately SL is the way to go for any newbie and day trader like me whose new into forex. But i have heard the new NFA regulations are taking the SL and Limits out of it so that wont be good in any way. Maybe i wud switch to some non-US borker by then.

Thanks for your advice once again bro! Cheers!
  • #144,876
  • Jul 9, 2009 1:41pm Jul 9, 2009 1:41pm
If you want this to go down use your magic button, hit the buy and just wait
  • #144,877
  • Jul 9, 2009 1:43pm Jul 9, 2009 1:43pm
Quoting jack.canadia
i was long last night from 6040 .. i closed because everyone and their mother screamed 5800 .....
i thought u had big cojones, but that is sissy if you run away

get back in here, we need u
  • #144,878
  • Jul 9, 2009 1:45pm Jul 9, 2009 1:45pm
Quoting ubaidahsan
it won't reach there it can't go up more

Ub
Ha ha. "Cant"? Do you have a time machine to step in to tomorrow? It certainly CAN go up more. The market will do whatever the hell it wants.
There's always money in the banana stand.
  • #144,879
  • Jul 9, 2009 1:45pm Jul 9, 2009 1:45pm
Quoting yakutatjack
Never said i took the move. Just saying buying after it has gone up this far is a reciepe for disaster.

Does that float your melon?
And using the contradicting views from a forum as an indicator to trade is not? lol

http://www.forexfactory.com/showpost...stcount=144837

now .. where's that awesome ignore button . ...
Thank You
  • #144,880
  • Edited 2:02pm Jul 9, 2009 1:49pm | Edited 2:02pm
Quoting yakutatjack
Never said i took the move. Just saying buying after it has gone up this far is a reciepe for disaster.

Does that float your melon?

LOL...I wear glasses and my hindsight is 20/20 too....

Dam shame we can't make these charts run left to right sometimes huh?
Ghost Rider - WWTBMD?
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