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Cable Update (GBPUSD)

  • #152,581
  • Jul 29, 2009 2:54pm Jul 29, 2009 2:54pm
ya'all had a good day?
Its all in the mind.
  • #152,582
  • Jul 29, 2009 3:00pm Jul 29, 2009 3:00pm
Quoting 5abi
ya'all had a good day?
Wasn't feeling it today, so no trades, loads of wussed trades which would of worked though, which is cool


You ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,583
  • Jul 29, 2009 3:04pm Jul 29, 2009 3:04pm
Yeah I took 4 trades that is unusually high for me. One last night and 3 this morning. All winners, so a great day can take the week off just watching from the sidelines On days like this I think so hard what am I doing working when I could be doing better trading full time.

Quoting Turveyd
Wasn't feeling it today, so no trades, loads of wussed trades which would of worked though, which is cool


You ??
Its all in the mind.
  • #152,584
  • Jul 29, 2009 3:23pm Jul 29, 2009 3:23pm
Quoting 5abi
Yeah I took 4 trades that is unusually high for me. One last night and 3 this morning. All winners, so a great day can take the week off just watching from the sidelines On days like this I think so hard what am I doing working when I could be doing better trading full time.
did you hold on your short just below Daily pivot yesterday when we talk about going down till 6400 and 6350 ??
Pivot point is the best way
  • #152,585
  • Jul 29, 2009 3:26pm Jul 29, 2009 3:26pm
Quoting 5abi
Yeah I took 4 trades that is unusually high for me. One last night and 3 this morning. All winners, so a great day can take the week off just watching from the sidelines On days like this I think so hard what am I doing working when I could be doing better trading full time.
I do understand your feeling.. Ithink the same , but 1st January bye bye, I'm going full time.
  • #152,586
  • Jul 29, 2009 3:36pm Jul 29, 2009 3:36pm
Quoting 5abi
Yeah I took 4 trades that is unusually high for me. One last night and 3 this morning. All winners, so a great day can take the week off just watching from the sidelines On days like this I think so hard what am I doing working when I could be doing better trading full time.

I should be full time from Monday despite a account value you'd laugh at

More of a case of desperation and no work on but hate programming so tis a good thing hopefully

Take 2 weeks off, trade full time and see how it goes for you, if you make enough and you like it, sack the job dude!!

But only trade part time and have a life is my advice!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,587
  • Jul 29, 2009 3:44pm Jul 29, 2009 3:44pm
Lejumeau,

wish you best! I have waited long enough, just smoothing a few kinks here and there and then I will join the club lol

I am on mission critcal project that cant leave in lurch

Quoting Lejumeau
I do understand your feeling.. Ithink the same , but 1st January bye bye, I'm going full time.
Its all in the mind.
  • #152,588
  • Jul 29, 2009 3:45pm Jul 29, 2009 3:45pm
No account is small enough if you are good enough you will grow it soon.

I would give it all it takes no half baked efforts. Looking at a 01/10 time frame.



Quoting Turveyd
I should be full time from Monday despite a account value you'd laugh at

More of a case of desperation and no work on but hate programming so tis a good thing hopefully

Take 2 weeks off, trade full time and see how it goes for you, if you make enough and you like it, sack the job dude!!

But only trade part time and have a life is my advice!!
Its all in the mind.
  • #152,589
  • Jul 29, 2009 3:48pm Jul 29, 2009 3:48pm
Morning guys, Bears a nice day....... Bulls be careful be very careful
Attached Image (click to enlarge)
Click to Enlarge Name: untitled.JPG Size: 94 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,590
  • Jul 29, 2009 3:49pm Jul 29, 2009 3:49pm
that is the one I am talking about, got out at 6391 and then took a long at 6358 when woke up. Pivot is great and the second trade I took was also at my S1. That was one easy 120 pips just between 2 lines. it looks shabby tonigh though, My guess is it is totally 50:50 ATM goes eother direction so staying out atm.

Quoting Lejumeau
did you hold on your short just below Daily pivot yesterday when we talk about going down till 6400 and 6350 ??
Pivot point is the best way
Its all in the mind.
  • #152,591
  • Jul 29, 2009 3:50pm Jul 29, 2009 3:50pm
Quoting 5abi
No account is small enough if you are good enough you will grow it soon.

I would give it all it takes no half baked efforts. Looking at a 01/10 time frame.

Yep growing it is the plan, got a few months money behind me thankfully!!

Soon be 01/10 just got to survive Xmas
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,592
  • Jul 29, 2009 3:55pm Jul 29, 2009 3:55pm
Cliche as it is most traders are killed cuz of account size. IMHO, even if you could manage a 5K account by saving some dough and start risking 2-3 % per trade you have a astronomically higher chance of survival. Just my 2 pence. But even that will not be enough for a living, considering where you live.


Quoting Turveyd
Yep growing it is the plan, got a few months money behind me thankfully!!

Soon be 01/10 just got to survive Xmas
Its all in the mind.
  • #152,593
  • Jul 29, 2009 3:59pm Jul 29, 2009 3:59pm
Quoting 5abi
that is the one I am talking about, got out at 6391 and then took a long at 6358 when woke up. Pivot is great and the second trade I took was also at my S1. That was one easy 120 pips just between 2 lines. it looks shabby tonigh though, My guess is it is totally 50:50 ATM goes eother direction so staying out atm.
It's clear as day my friend.....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #152,594
  • Jul 29, 2009 4:03pm Jul 29, 2009 4:03pm
hehe, ok, care to share?

Quoting Bull_Bear
It's clear as day my friend.....
Its all in the mind.
  • #152,595
  • Jul 29, 2009 4:03pm Jul 29, 2009 4:03pm
Quoting 5abi
Cliche as it is most traders are killed cuz of account size. IMHO, even if you could manage a 5K account by saving some dough and start risking 2-3 % per trade you have a astronomically higher chance of survival. Just my 2 pence. But even that will not be enough for a living, considering where you live.

Thats actually a Myth, I'm trading @3%-4% risk currently, but normally out @1/2 my SL so average is 1.5-2% losses. I'm getting @85% win rate ( including the out for +2's ) so not really focusing on my losers anyway there nothing!!

A 5K account, traded at 3% risk, if traded badly will be killed in the same period as a £500 account traded at 3%.

When learning which would you prefer to lose ??


I recommend, Shorting my account around here


My in trade account lows, where £50.47 or something, account margin is £50, it turned into a nice profit saved the account and 6weeks later up 700% to nearing £400.

£400 worries me though, I've reversed off £400 Hard 3 times previously, never gotten above it and I mean £400 to £100 in hours.

So trading a bit nervous here, as I go crazy trying to break it LOL

That and no spare cash, could add £100 maybe £200 but nothing more if I blow it, so 5K is out of the question, I have Zero money coming in
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,596
  • Jul 29, 2009 4:09pm Jul 29, 2009 4:09pm
Turvy, why do we argue about this always to your point if you are learning then why risk 4 % at all?

This is simple math, you trade 12 hours a day, and with a right mind and proper MM, you could make money at end of the day with a 55 % hit rate. And that is with a 2 % risk to reward. But well who am I to harp upon this every man is unto himself...


Quoting Turveyd
Thats actually a Myth,...
Its all in the mind.
  • #152,597
  • Jul 29, 2009 4:18pm Jul 29, 2009 4:18pm
Quoting 5abi
Turvy, why do we argue about this always to your point if you are learning then why risk 4 % at all?

This is simple math, you trade 12 hours a day, and with a right mind and proper MM, you could make money at end of the day with a 55 % hit rate. And that is with a 2 % risk to reward. But well who am I to harp upon this every man is unto himself...

Demo does not work for me, I like to earn while I learn to keeps the mind focused, I do drop back after bad times to Demo.

Got my system down tight so not really in learning phase anyway, in confidence to trade more of my setups phase currently.

Prefer my 85%+ hit rate thanks, I have a cheat so I can try a setup in a way that nearly always gets me into profit and if no follow through I bail, not giving it back is key to me.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #152,598
  • Jul 29, 2009 4:39pm Jul 29, 2009 4:39pm
Thing is that the rules change. and so 'feeling' the market is my way...

Sometimes the DOW goes up and so does cable (relief at no depression) - sometimes the DOW goes up and cable goes down (America doing better than UK)

There are many 'rules' which work for afew days or a few weeks and then the total opposite kicks in

My only enemy is complacency and not scenting a rule change

Usually though, any huge move (I mean two) is a candidate for a retrace position - I have been caught by not waiting for the second huge candle

Once the huge candles are in place and the market is dithering, the profit takers and ditherers will put it into retrace mode because the move was overdone - but only by 25% or so max so I am not greedy on the retrace

The market nearly always overshoots

If it starts going the way of the huge move again then I am out pronto

Its no get rid quick method, but it works most times and its simple
  • #152,599
  • Jul 29, 2009 4:41pm Jul 29, 2009 4:41pm
im short from 1.6388-- looking for 1.6250 or 1.6200

seems with good treasury sale today, great housing numbers earlier this week all could make dollar strong---although i am long turn dollar bear.

im about to short the euro/usd too i think
  • #152,600
  • Jul 29, 2009 4:42pm Jul 29, 2009 4:42pm
treasury sales was not good today. but you are right dollar will strengthen

Quoting pipple
im short from 1.6388-- looking for 1.6250 or 1.6200

seems with good treasury sale today, great housing numbers earlier this week all could make dollar strong---although i am long turn dollar bear.

im about to short the euro/usd too i think
Its all in the mind.
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