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Cable Update (GBPUSD)

  • #149,401
  • Jul 22, 2009 11:36am Jul 22, 2009 11:36am
Quoting Turveyd
That's what I'm doing, yes I'm paying @£1500 thus far to learn but I expect I'll make back my £1500 real quick when perfected so it's a chance I'm willing to take!!
Im using a Micro account at $0.10 a pip while I learn. Because Live trading is waaaaay different than demo trading. Just to get an idea. I've made about 380 pips on my demo account in the past 3 days (where I use larger stop losses and dont mind opening positions prematurely bc I dont mind losing fake money); and I've made 66 pips on my live account where I think twice before entering a trade and set SL in a much more conservative manner.

So while I learn how to trade well and gain confidence in my live trading, I'm sticking to a micro account.
On a journey to consistency.
  • #149,402
  • Jul 22, 2009 11:36am Jul 22, 2009 11:36am
What will it retrace to?
Disclaimer: Check your 1m charts
  • #149,403
  • Jul 22, 2009 11:38am Jul 22, 2009 11:38am
Quoting Proness
Strong resistance at 646x. Lets see how it goes from here.

Caution, theme at the moment is, fake top, pull back abit get the shorts in then up quickly hit the shorts stops before going down.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,404
  • Jul 22, 2009 11:39am Jul 22, 2009 11:39am
boxing time....
  • #149,405
  • Jul 22, 2009 11:40am Jul 22, 2009 11:40am
Quoting albchr
I guess all you folks with incomes can afford to loose real money. I've been disabled since November 07 and not a dime of income. This account is the last of my savings we lived on for that time.

Yep...LOL...You can BET I used a demo account for the last 10 months and still do for trying new things.

To each their own I always say...
Sorry to hear that bro. But I think Forex can be your lasting profession and a good income if you trade it right. Nevertheless, I also concern with your MM, just take it slow as long as it is in a consistent basis. You will be blown off by how powerful the compound percentage is.
  • #149,406
  • Jul 22, 2009 11:42am Jul 22, 2009 11:42am
Btw, am waiting for 1.6490 resistance area .. and see the PA and volume altogether.
  • #149,407
  • Jul 22, 2009 11:42am Jul 22, 2009 11:42am
Quoting Tataocb
Im using a Micro account at $0.10 a pip while I learn. Because Live trading is waaaaay different than demo trading. Just to get an idea. I've made about 380 pips on my demo account in the past 3 days (where I use larger stop losses and dont mind opening positions prematurely bc I dont mind losing fake money); and I've made 66 pips on my live account where I think twice before entering a trade and set SL in a much more conservative manner.

So while I learn how to trade well and gain confidence in my live trading, I'm sticking to a micro account....
similiar to me, made arround 1k pips in last 4 days... same about stop losses and taking things less serious with 'fake money'. i lost like turvey with real, i think its a necessary step to be successfull. and even look at wormy, he made a lot more loss, and now hes profitable.all depents on individuality and like worm said, this losses make you harder

i advise too to practice with micro-live, to get no false confident on demo.
sly
  • #149,408
  • Jul 22, 2009 11:43am Jul 22, 2009 11:43am
Im thinking maybe a bounce at 1.6480. That's where I have my resistance line.
On a journey to consistency.
  • #149,409
  • Jul 22, 2009 11:46am Jul 22, 2009 11:46am
forgot all your shorts as long i'm long ;-) . (first short entry could be around 90)
  • #149,410
  • Jul 22, 2009 11:46am Jul 22, 2009 11:46am
right on target


Quoting forex3e
anyone see 1647x as their target?
  • #149,411
  • Jul 22, 2009 11:46am Jul 22, 2009 11:46am
Quoting ganymedes
The dollar is re-testing yesterdays lows in a few moments.
Broken!
  • #149,412
  • Jul 22, 2009 11:46am Jul 22, 2009 11:46am
i short @ 1.6480
  • #149,413
  • Jul 22, 2009 11:47am Jul 22, 2009 11:47am
There is my pause before the push higher, which has been costing me dearly recently.


Should pull back to @1.6450 from here, but we'll see.

SHORT!!! and doomed as i've posted it and it's against the trend LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #149,414
  • Jul 22, 2009 11:47am Jul 22, 2009 11:47am
Quoting ganymedes
Broken!
huh
  • #149,415
  • Jul 22, 2009 11:48am Jul 22, 2009 11:48am
Quoting mktjong
Sorry to hear that bro. But I think Forex can be your lasting profession and a good income if you trade it right. Nevertheless, I also concern with your MM, just take it slow as long as it is in a consistent basis. You will be blown off by how powerful the compound percentage is.
Appreciate that man. I too am concerned but...a 5k account, 6k in bills per month, makes good MM a bit tough...LOL

I don't trade this way because I "want" to.

No time for compounding...(yet)..hehe
Ghost Rider - WWTBMD?
  • #149,416
  • Jul 22, 2009 11:50am Jul 22, 2009 11:50am
just bounce 30 point please
  • #149,417
  • Jul 22, 2009 11:50am Jul 22, 2009 11:50am
Quoting wormboy
hmmm ... something wrong with my chart. suddenly everything stopped.
bernanke died?
pa =
My fears were confirmed. Killed my shorts and wen Long. TP 6540.
Now it's also refusing to pull up. Oh my God!

Will be more patient next time. No need to speculate. The arket will always decide and we just follow.

Any inputs guys?
In all your ways acknowledge Him and He will direct your path.
  • #149,418
  • Jul 22, 2009 11:50am Jul 22, 2009 11:50am
Quoting Turveyd
Caution, theme at the moment is, fake top, pull back abit get the shorts in then up quickly hit the shorts stops before going down.
So short is the way to go?

H1 high is somewhere around the 649x area. Nevertheless, the M15, M30 & H1 charts are telling me to go long. Really conphused!
~Bhavik
  • #149,419
  • Jul 22, 2009 11:51am Jul 22, 2009 11:51am
the time that i put that silly avatar it was a black day i will delete it
  • #149,420
  • Jul 22, 2009 11:52am Jul 22, 2009 11:52am
Quoting albchr
Appreciate that man. I too am concerned but...a 5k account, 6k in bills per month, makes good MM a bit tough...LOL

I don't trade this way because I "want" to.

No time for compounding...(yet)..hehe

what country do you live in man? 6k in bills/month? that's quite a lot.
And how come you dont get any disable benefits?
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