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Cable Update (GBPUSD)

  • #150,321
  • Jul 23, 2009 4:55pm Jul 23, 2009 4:55pm
Quoting albchr
I've never traded the Asian session. Is there much activity during it?

Probably a silly question since there wasn't any between London and US combined...LOL
It depends..Monday, for example, JPY bank holiday, no important news but there was some activity, contrary to my thoughts
  • #150,322
  • Jul 23, 2009 4:59pm Jul 23, 2009 4:59pm
Quoting albchr
I've never traded the Asian session. Is there much activity during it?

Probably a silly question since there wasn't any between London and US combined...LOL
Sometimes yes, better off on EJ or GJ though.


But trading tired is suicide and getting addicted and trading on adrenalin even worse!!

SLEEP!!!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #150,323
  • Jul 23, 2009 5:00pm Jul 23, 2009 5:00pm
Quoting albchr
I've never traded the Asian session. Is there much activity during it?

Probably a silly question since there wasn't any between London and US combined...LOL
No, the volatility and activity is lower than in the other sessions. Major movements before 05-06 UTC/GMT is highly unusual.
  • #150,324
  • Jul 23, 2009 5:06pm Jul 23, 2009 5:06pm
Quoting alex1976
albchr, based on the bearish looking daily that just closed, should we be looking for shorts going into UK session?
My daily closes in 2 hours so not sure yet. It would have to close at least below 6310 and even if it does, it's pretty small at that. It is off a nice round number of 6550.

I've been of the mind GU will drop. But with the past two days of crazy PA, I have no idea when.
Ghost Rider - WWTBMD?
  • #150,325
  • Jul 23, 2009 5:08pm Jul 23, 2009 5:08pm
I would say cut it down by a 100th



Quoting LizardGizzard
I hate to say it, but with that sort of gambling, you're not going to have your account much longer. Are you gambling on purpose? Bet smaller! If 750 doubles your account and you're trading with near standard lots, it probably wont work it too well. Just trying to help. Cut that size by 1/10th.
Its all in the mind.
  • #150,326
  • Jul 23, 2009 5:15pm Jul 23, 2009 5:15pm
Quoting albchr
I've never traded the Asian session. Is there much activity during it?

Probably a silly question since there wasn't any between London and US combined...LOL

OK then, we have a depends, a sometimes and a no......

I believe that all adds up to = I'll get a few hours sleep then...LOL

Thanks folks!...
Ghost Rider - WWTBMD?
  • #150,327
  • Jul 23, 2009 5:19pm Jul 23, 2009 5:19pm
Quoting 5abi
I would say cut it down by a 100th

Nah keep going, you've doubled your account, took your seed money out incase it all goes wrong and playing with the houses money.


Grow some balls people!!!

Okay cut it by 1/2!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #150,328
  • Jul 23, 2009 5:21pm Jul 23, 2009 5:21pm
Quoting albchr
OK then, we have a depends, a sometimes and a no......

I believe that all adds up to = I'll get a few hours sleep then...LOL

Thanks folks!...

i have personally seen asia creating the day`s high or low many a times and pa is kinda slower but there sure is action going gu usually has 60-100 pip range and i have observed it respects no brainer s&r resistance zones for 15-30 pip scalps on the 5m chart. i usually like to see a bull hammer or a bear pin coming off "the whole world can see them" s&r zones. works like 90%. what i think you should add is volume and there is an awesome indicator for it in the VSA thread which helps you determine with a very big chance of success whether a s&r zone will be respected or blown thru. you can also spot pretty easy climactic selling and buying or hidden selling into strength or hidden buying on weakness which occurs at round numbers and super obbvious trendlines and s&r zones. sometimes to the pip. for example: cant post a chart right now but on a 5m chart there is a bullish 5m pinbar at around 4:30 pm with large volume relative to its background which tipped me off for some hidden professional buying in the background. sure enough price shot up to previous support turned resistance @ 1.6500 (round number) where u can take profit. easy 25-30 pips
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #150,329
  • Jul 23, 2009 5:29pm Jul 23, 2009 5:29pm
Quoting djambazov84
on a 5m chart there is a bullish 5m pinbar at around 4:30 pm ...
Which time? GMT, GMT +2 EST?
  • #150,330
  • Jul 23, 2009 5:34pm Jul 23, 2009 5:34pm
Come on now, you have been here longer enough to know what kind of returns are realistic.

Umm well if you have a 500 dollar account you want to gamble away fine with me, but when you are dealing with a 50 K + account I think anyone sane enough will see what I mean. I dont understand a x % a day crowd. Not at all. At 3 % a month you are beating every idiot out there running around with your mutual funds and 401Ks.




Quoting Turveyd
Nah keep going, you've doubled your account, took your seed money out incase it all goes wrong and playing with the houses money.


Grow some balls people!!!

Okay cut it by 1/2!!
Its all in the mind.
  • #150,331
  • Jul 23, 2009 5:35pm Jul 23, 2009 5:35pm
Quoting Pollux
Which time? GMT, GMT +2 EST?

sorry 4:30 est
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #150,332
  • Jul 23, 2009 5:37pm Jul 23, 2009 5:37pm
Quoting Angelina
I long EU @ 4121 @ 38% sl moved BE target 23.6%

good luck.
cant be nicer for this week.

EJ and GJ and EU give me +130 pips and I decide to out now to take some rest so total now is +320 pips for this week. I m not gona trade tomorrow.
good luck to all of you.

Angel.
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  • #150,333
  • Jul 23, 2009 5:38pm Jul 23, 2009 5:38pm
One man running for the first base let see will he be safe or out.
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  • #150,334
  • Jul 23, 2009 5:40pm Jul 23, 2009 5:40pm
Quoting Lejumeau
One man running for the first base let see will he be safe or out.
He is safe now let see if he can make it to the second base
  • #150,335
  • Jul 23, 2009 6:05pm Jul 23, 2009 6:05pm
Quoting 5abi
Come on now, you have been here longer enough to know what kind of returns are realistic.

Umm well if you have a 500 dollar account you want to gamble away fine with me, but when you are dealing with a 50 K + account I think anyone sane enough will see what I mean. I dont understand a x % a day crowd. Not at all. At 3 % a month you are beating every idiot out there running around with your mutual funds and 401Ks.

The returns are only limited by how good a trader you are and how good a system you've got.

I've got a Fantastic system which should win 80%+ of the time and average profit should be 3x's average loss. With Regular 100pip+ winners!!

I'm great on the theory of it all.

But my weakness is placing trades in a real time environment, which is why I'm just watching alot and working on that.


Improve on my weakness and I don't see any reason why I can't make 100pips per day average, and with 80%+ win rate I'll be running my Lot's pretty high for the size of the account and backing off as it grows!

I've got 2 months to turn a £325 ish account into something I can take a wage from ie £800 so I need to get it to £2000 !! so 3% isn't going to cut it.


Sorry I just don't buy this entire you can't do it attitude, if your trading consistently and profitably then GO FOR IT!!! Lifes to short to always play it safe.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #150,336
  • Jul 23, 2009 6:06pm Jul 23, 2009 6:06pm
Quoting ganymedes
Long @ 1.6484, SL @ 1.6452.
SL moved to BE.
Let's see if it's able to survive the asian session...
  • #150,337
  • Jul 23, 2009 6:07pm Jul 23, 2009 6:07pm
The 3% per year mutual funds stuff, the funds are making alot more than 3%, but they've got Billions and all they can do is soak up the new weak money, yep us retail traders.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #150,338
  • Jul 23, 2009 6:16pm Jul 23, 2009 6:16pm
Quoting Turveyd
I've got a Fantastic system which should win 80%+ of the time and average profit should be 3x's average loss. With Regular 100pip+ winners!!

I'm great on the theory of it all.

But my weakness is placing trades in a real time environment, which is why I'm just watching alot and working on that.
Then no reason to trade it manually, right?
You should get this system automated (or at least semi-automated), i.e. create an "Expert Advisor" to trade for you.

Ok, I know it's not that easy. But seriously, might be an idea if your system is very good!
  • #150,339
  • Jul 23, 2009 6:18pm Jul 23, 2009 6:18pm
Doing the fantasy excel spread sheet thing, with my planned Lot size increases I can get to £2000+ at just 30 pips per day.

I made 28pips today with just 1 trade, before having to work



Easy Peasy
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #150,340
  • Jul 23, 2009 6:25pm Jul 23, 2009 6:25pm
Quoting ganymedes
Then no reason to trade it manually, right?
You should get this system automated (or at least semi-automated), i.e. create an "Expert Advisor" to trade for you.

Ok, I know it's not that easy. But seriously, might be an idea if your system is very good!

I've written my own indicator ( real basic ), to highlight the direction AGAIN to stop me trading against the immediate market direction.

I plan to develop this further into a trade alert system but never fully automated, don't really believe a EA could be programmed with all the rules and the sense when not to trade.

Also teaming up with a girl I know next Wednesday cause she's out of work then to like I'll be, doing a we both have to agree on a trade before entering a trade and only 1 of us has to say Exit for us to both exit. She's trading exactly the same system so it should stop us holding trades against us longer than we should ( her issue to ) and placing stupid trades in the first place.

We work well together so 2 brains Should be better than 1, find out next week.

Also twice the eyes looking out for trades!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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