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Cable Update (GBPUSD)

  • #146,961
  • Jul 16, 2009 10:46am Jul 16, 2009 10:46am
Quoting mktjong
Certainly, don't ask for too much if you are day trading. 30-40 pips per a day is reasonable, if consistent, can keep your employer away
More or less trading Forex is just like business 101 - buy cheap, sell high and vice versa. I've noticed that at the time European market opens (around 11 AM GMT, just these 2 pairs GBP/USD & EUR/USD), if u see price touches hourly Bollinger band upper or lower band, then go with the opposite trend. Set for 30-40 pips and no stoploss. You would likely win (it's not 100% guaranteed but it's close if u don't...

Well, when I have a million dollar account, perhaps I'll trade with no stop-loss.

But in my particular situation, that would be certain suicide....
Ghost Rider - WWTBMD?
  • #146,962
  • Jul 16, 2009 10:47am Jul 16, 2009 10:47am
perfect scalp, buy at 405, stop at 390 take profit at 430. nothing risky about that.
  • #146,963
  • Jul 16, 2009 10:47am Jul 16, 2009 10:47am
Agree

London Trader
Quoting albchr
Well, when I have a million dollar account, perhaps I'll trade with no stop-loss.

But in my particular situation, that would be certain suicide....
Discomfort and profit often stand side by side
  • #146,964
  • Jul 16, 2009 10:48am Jul 16, 2009 10:48am
Quoting albchr
Well, when I have a million dollar account, perhaps I'll trade with no stop-loss.

But in my particular situation, that would be certain suicide....
No need a million dollar bro, just use smaller lot
  • #146,965
  • Jul 16, 2009 10:50am Jul 16, 2009 10:50am
Quoting mktjong
No need a million dollar bro, just use smaller lot
Not possible in my "particular" situation. Some day though....
Ghost Rider - WWTBMD?
  • #146,966
  • Jul 16, 2009 10:51am Jul 16, 2009 10:51am
now move ur stop to break even , u have a free trade
  • #146,967
  • Jul 16, 2009 10:52am Jul 16, 2009 10:52am
Quoting albchr
Well, when I have a million dollar account, perhaps I'll trade with no stop-loss.

But in my particular situation, that would be certain suicide....
Bro.. what's your TP for your short position?
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #146,968
  • Jul 16, 2009 10:57am Jul 16, 2009 10:57am
Quoting mktjong
No need a million dollar bro, just use smaller lot
..well speach mate .. am agreed with you on this...anyway ..opsss..GU?

by the way <95% of my trading is with no SL setting unless at the breakout testing area.....just a precaution....and am just thinking of long term profit by step by step profit taking with 100% emc2.....i look some people here is just wating for some signal from somebody which they do not know where to buy and where to long with no MM...but if me ...am better take this golden oppurtunity to skill up my technical strategy
  • #146,969
  • Jul 16, 2009 10:58am Jul 16, 2009 10:58am
If u r not using any stops u r really looking for trouble.
  • #146,970
  • Jul 16, 2009 10:58am Jul 16, 2009 10:58am
Quoting Yngwie
Bro.. what's your TP for your short position?

My short was stopped out at +5 on the news man.

Well, considering it's only moved a total of 40 pips (up and down) in the last two hours, I'd say right here.

Depends on where you got in but it looks pretty dead to me right now....no?
Ghost Rider - WWTBMD?
  • #146,971
  • Jul 16, 2009 11:00am Jul 16, 2009 11:00am
closed at 420. 15pips
  • #146,972
  • Jul 16, 2009 11:05am Jul 16, 2009 11:05am
Quoting albchr
My short was stopped out at +5 on the news man.

Well, considering it's only moved a total of 40 pips (up and down) in the last two hours, I'd say right here.

Depends on where you got in but it looks pretty dead to me right now....no?

dead if break 1.6429 in this hour.. hopefully going down..
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #146,973
  • Jul 16, 2009 11:11am Jul 16, 2009 11:11am
Quoting Yngwie
dead if break 1.6429 in this hour.. hopefully going down..
Hope always get my account killed.
  • #146,974
  • Jul 16, 2009 11:12am Jul 16, 2009 11:12am
Quoting Yngwie
dead if break 1.6429 in this hour.. hopefully going down..
Honestly, if you're in profit I'd just take it. Or, set your stop to BE or BE +

My dead cat twitches more than this on a daily basis.....
Ghost Rider - WWTBMD?
  • #146,975
  • Jul 16, 2009 11:15am Jul 16, 2009 11:15am
Quoting grashid
..well speach mate .. am agreed with you on this...anyway ..opsss..GU?

by the way <95% of my trading is with no SL setting unless at the breakout testing area.....just a precaution....and am just thinking of long term profit by step by step profit taking with 100% emc2.....i look some people here is just wating for some signal from somebody which they do not know where to buy and where to long with no MM...but if me ...am better take this golden oppurtunity to skill up my technical strategy
Please brother don't make such mistakes. If e.g any bad news breaks out and a drop of 300 pips occurs then that will be a disaster for you. Just go for long SL of maybe 50 or 100 etc.
You've got to be IN IT to WIN IT!
  • #146,976
  • Jul 16, 2009 11:28am Jul 16, 2009 11:28am
Quoting dobbie11
Hello folks,

I have been reading the post and to much surprise see a lot confusion, which is were I was over 2 years ago when consolidation happen..
We can all read and each takes what ever knowldge he thinks is useful.
TK for the informative tips. I agree with u on most..
  • #146,977
  • Jul 16, 2009 11:30am Jul 16, 2009 11:30am
Quoting ubaidahsan

what do you say isn't it looking that it is making a way to go up till 66xx??as it is doing correction since yesterday so i think tomorrow we will test 66xx what do you say??
I say you pull up a h1 chart and draw 2 horizontal lines across 6450 and the other at 6390 and you will see the consolidation zone. Forget the corrective wave & seeing 66xx by tomorrow. You don't know that, nobody does. Have you not read enough calls for this thing to tank for the past 24 hours? Have you not read enough calls saying this thing will fly to the moon today? The market is ranging. It will do this for as long as you think it won't & it certainly can go the opposite way if it wants.


Quoting ubaidahsan
because if it has to fall so it could be tonight if it not happen so tomorrow we can see 66xx?what do you say????
No it doesn't have to fall tonight or else we'll see 66xx. Listen, I've went on about cable tanking to 5300 for over a month & there are others who had call this thing to fly up to 8000 for as long as I have. Guess what? That was over a month ago and we're still here. There are no IF NOT the market will do otherwise. Don't assume my friend. Even with the very best indicators or fundies knowledge, being early does not necessarily make you right. Take a step back & chill instead of chasing trades. Trade the breakout instead, you will decrease exposing yourself to unnecessary risk dramatically. That much I can GUARANTEE you.


Quoting ubaidahsan
i was in dragon trade and was entered at154.50 and out with 150
Nice. Dragon is in no fly zone atm. Don't try to be a hero.
Good luck bro.
Thank You
  • #146,978
  • Jul 16, 2009 11:33am Jul 16, 2009 11:33am
Quoting Ifty
Please brother don't make such mistakes. If e.g any bad news breaks out and a drop of 300 pips occurs then that will be a disaster for you. Just go for long SL of maybe 50 or 100 etc.
no argument..its depend...
  • #146,979
  • Jul 16, 2009 11:34am Jul 16, 2009 11:34am
Quoting albchr
Well, when I have a million dollar account, perhaps I'll trade with no stop-loss.
or you can just adjust your position size and lower it
Thank You
  • #146,980
  • Jul 16, 2009 11:38am Jul 16, 2009 11:38am
Quoting wormboy
or you can just adjust your position size and lower it

Come on brother, YOU know my situation. I don't play large lots because I like to or I'm greedy.....
Ghost Rider - WWTBMD?
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