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Cable Update (GBPUSD)

  • #150,701
  • Jul 24, 2009 10:35am Jul 24, 2009 10:35am
Quoting AmeriTrini
good luck Sir!!! you seem to have the trading down, but not the money management...............

LOL...yeah, pretty tough to manage what one doesn't have...LOL

I didn't loose any, just didn't make any the past two days...LOL

But I'll keep working on it.

Thank You sir!!...
Ghost Rider - WWTBMD?
  • #150,702
  • Jul 24, 2009 10:37am Jul 24, 2009 10:37am
Quoting mktjong
While waiting for timing .. enjoy this one:

http://www.facebook.com/ext/share.ph...u=GgiLu&ref=nf
Hi mktjong, nice video, very relaxing, thanks bro.
  • #150,703
  • Jul 24, 2009 10:41am Jul 24, 2009 10:41am
Quoting LondonTrader
HI All,

4H with Bollinger (and yesterday divergence on it) shows down trend to (might) continue. The same with 15Minuts S&P500 and DowJhons...are sloping down

Just a thought

LOndon Trader

LT, how far south do you think it would go. any ideas on eur/usd?
  • #150,704
  • Jul 24, 2009 10:42am Jul 24, 2009 10:42am
Quoting direct-trade
Average around 500-800 pips profit per month.

1st Month: 500 x £2 per pip = £1000
2nd month: 500 x £3 = £3000
3rd: 500 x 4 = £4000
4th: 500 x 6 = £6000
5th: 500 x 8 = £8000 and so on...
Should this be:
1st(£1000) Month: 500 x £2 per pip = £1000
2nd(£2500) month: 500 x £3 = £1500 + £1000 1st month
3rd(£4500): 500 x 4 = £2000 + £1500 + £1000
4th(£7500): 500 x 6 = £3000 + £2000 + £1500 + £1000
5th(£11500): 500 x 8 = £4000 + £3000 + £2000 + £1500 + £1000 and so on...

Really like your charts and analysis DT, especially the head and shoulder stuff earlier this week.
  • #150,705
  • Jul 24, 2009 10:43am Jul 24, 2009 10:43am
Quoting OmegaFire
No one is sure of anything until 6385 is broken to the downside.
  • #150,706
  • Jul 24, 2009 10:43am Jul 24, 2009 10:43am
Could you say more about breakout - where can we find more info about - how much can we obtain etc, please?

LT
Quoting direct-trade
Here's a simple one for you if you want to trade for 1 minute a day. It works better on GBP/JPY.

Enter at 9AM GMT (GMT is +1 at the moment). Take the previous candle (that is, 8am-9am London) and enter in that candle's direction.

SL 100, TP 150, move SL to B/E when +100. No trailing stop.

If the candle is less than 10 pips, then wait until the next candle.

Most consecutive loses in 1 year is around 6-8, so make sure your account can take it if jumping straight in a losing streak. Now, even with a 50% win rate, because your TP is larger than...
Discomfort and profit often stand side by side
  • #150,707
  • Jul 24, 2009 10:44am Jul 24, 2009 10:44am
Quoting direct-trade
Here's a simple one for you if you want to trade for 1 minute a day. It works better on GBP/JPY.

Enter at 9AM GMT (GMT is +1 at the moment). Take the previous candle (that is, 8am-9am London) and enter in that candle's direction.

SL 100, TP 150, move SL to B/E when +100. No trailing stop.

If the candle is less than 10 pips, then wait until the next candle.

Most consecutive loses in 1 year is around 6-8, so make sure your account can take it if jumping straight in a losing streak. Now, even with a 50% win rate, because your TP is larger than...
I built an EA for this because I live in NYC and I am not usually awake in the middle of the night but this has indeed worked relatively well. This month has been a little bumpy (33% hit rate) but I have been backtesting different variables and 100 SL and 500% of the 8AM GMT candle for TP has been working well. (33% hit rate but with avg. TP of couple hundred pips, you still earn pips). I usually also move SL to B/E after 75-100 pip movement.
  • #150,708
  • Jul 24, 2009 10:44am Jul 24, 2009 10:44am
Quoting nasori
still LONG in GU to 1.6600
i think u will have this one to the next week

i have a small lot @ 1.6400 ( long one )

Good luck
  • #150,709
  • Jul 24, 2009 10:45am Jul 24, 2009 10:45am
Quoting nasori
still LONG in GU to 1.6600
how many days it takes sir to hit ur t/p lol
  • #150,710
  • Jul 24, 2009 10:55am Jul 24, 2009 10:55am
Quoting forexlion
wow
How about ur few hundred K drawndown last few month...is normal for people to learn from thier mistake...dont be like childish mate...
  • #150,711
  • Jul 24, 2009 11:02am Jul 24, 2009 11:02am
Quoting direct-trade
Beware...big boys at play and creating upmoves to sell into...Stops are on the Radar before we fall. Current price 16540...expect spike before we go.

hEY bRO FROM WHERE ur getting the information abt this????It is so helpful to trade??Reply
  • #150,712
  • Jul 24, 2009 11:09am Jul 24, 2009 11:09am
Quoting amis0405
hEY bRO FROM WHERE ur getting the information abt this????It is so helpful to trade??Reply
Up move to sell into, what does it means ? UP first then Down, isn't that ?
Is that maybe ... maybe .... DT is one off the big boys ?
  • #150,713
  • Jul 24, 2009 11:11am Jul 24, 2009 11:11am
Quoting mktjong
4 hr chart is the least. Smaller time frame is subjected to whipsaw. I use 6 hr, 12 hr, and daily plus volume.
Agreed. Today's fall was pretty obvious on the H4.
Thank You
  • #150,714
  • Jul 24, 2009 11:12am Jul 24, 2009 11:12am
Quoting LondonTrader
Could you say more about breakout - where can we find more info about - how much can we obtain etc, please?

LT
Here you go:

http://www.forexfactory.com/showthread.php?t=183582
http://www.forexfactory.com/showthread.php?t=103682
  • #150,715
  • Jul 24, 2009 11:17am Jul 24, 2009 11:17am
Quoting hadleyma
I built an EA for this because I live in NYC and I am not usually awake in the middle of the night but this has indeed worked relatively well. This month has been a little bumpy (33% hit rate) but I have been backtesting different variables and 100 SL and 500% of the 8AM GMT candle for TP has been working well. (33% hit rate but with avg. TP of couple hundred pips, you still earn pips). I usually also move SL to B/E after 75-100 pip movement.
Yes, July and August are the least preforming months using this system, but like you say, even with a bad "33%" month you still end in profit.

Glad to see others trading this way.

Good idea with the EA, I personally dont use them as I like to watch and enter manually...just in case.

Happy trades and a good weekend to ya.
  • #150,716
  • Jul 24, 2009 11:20am Jul 24, 2009 11:20am
Quoting KillPhil08

Really like your charts and analysis DT, especially the head and shoulder stuff earlier this week.
Thanks, appreciate it. Hopefully we will get some great PA next week...if not then this could range until end August...

Have a good weekend!
  • #150,717
  • Jul 24, 2009 11:21am Jul 24, 2009 11:21am
Quoting LondonTrader
Hi Mktjong,

On my MetaTrader4 i don`t have 6H and 12h. Only 4H and daily

Which volume indicator do you use for FX?

LT

try GTS pro from fx solution u have have more tf to decide ur position but the least from tick -1min and straight to monthly chart ....all tf is there so check it out.
MY OPINION NOT FINANCIAL ADVISE
  • #150,718
  • Jul 24, 2009 11:23am Jul 24, 2009 11:23am
Quoting freeasabird
Up move to sell into, what does it means ? UP first then Down, isn't that ?
Is that maybe ... maybe .... DT is one off the big boys ?

Yup Quite Possible
  • #150,719
  • Jul 24, 2009 11:24am Jul 24, 2009 11:24am
A slowly and steadily grinding downward until NY closes I guess .. it hasn't really traded down to 1.6380 area to find significant buyers, more in 1.6310 area ..
  • #150,720
  • Jul 24, 2009 11:24am Jul 24, 2009 11:24am
Hi all,
I'm still short, is that a wise thing to do?
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