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Cable Update (GBPUSD)

  • #153,081
  • Jul 30, 2009 11:14am Jul 30, 2009 11:14am
Quoting allserene
People who dont trust their shorts should use attractive underwear!
Hear the music before the song is over ...
  • #153,082
  • Jul 30, 2009 11:17am Jul 30, 2009 11:17am
Quoting spintrader
good decision Navin- It might drop some, but it's being pretty stubborn at staying up near the resistance line. I think it might break it during asia.

There'll be another chance to short soon enough
if this isnt indecision i dunno what is
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  • #153,083
  • Jul 30, 2009 11:20am Jul 30, 2009 11:20am
Quoting nAVIN2007
if this isnt indecision i dunno what is
hi Navin,

you're right...it is indecision...but the question is indecision about what?
I think it's indecision to break out of range...
Hear the music before the song is over ...
  • #153,084
  • Jul 30, 2009 11:22am Jul 30, 2009 11:22am
this was just usual bulls trap, angry Antarctida bears just already been sent to support their North American brothers in this stupid fight for our money!
So let's support our little brothers while they making money for us!
ROBOT FOREX
  • #153,085
  • Jul 30, 2009 11:22am Jul 30, 2009 11:22am
Quoting nAVIN2007
if this isnt indecision i dunno what is

haha...yea navin...that a good indicator that some people have eyes longed to see the shorts happening..
Play it HarD*
  • #153,086
  • Jul 30, 2009 11:22am Jul 30, 2009 11:22am
Bull flag...IF equities hold!
  • #153,087
  • Jul 30, 2009 11:25am Jul 30, 2009 11:25am
Quoting GlobalMacro
hi Navin,

you're right...it is indecision...but the question is indecision about what?
I think it's indecision to break out of range...
hi bro..

yes the way i see it..this is uptrend and we got a bearish signal and bears cant follow through..only one place to go..and its a big, big channel with already broke to go south and came back up...when the b*tch breaks wind we gonna fly...
  • #153,088
  • Jul 30, 2009 11:25am Jul 30, 2009 11:25am
Quoting Forbes55
this was just usual bulls trap, Antarctida bears just already been sent to support their North American brothers in this stupid fight for our money!
So let's support our little brothers while they making money for us!
funny you should mention this...I don't know why but for some weird reason ever since the numbers came out I kept thinking about grizzly bears...LOL
Hear the music before the song is over ...
  • #153,089
  • Jul 30, 2009 11:33am Jul 30, 2009 11:33am
Hi guys, this may not be the best place to post this type of thing but i have been following this thread daily and reading your posts for a couple of months now so here we go...

I recently made the transition from demo to live acount after 3 months + on demo of making a consistant profit. I am sure you have all heard this before but i have found the leap to live to be a shock to the system. Basically i have just closed the live acount after 2 weeks and a loss off 33% of my acount.

Losing real money just has a completly different psychological effect and i openend my self up to knee jerk and revenge trading. I found i was making my stops a lot tighter than i would on demo. I want to know how you guys 'get in the zone' or get in the right mindset for trading. did any of you guys experience this when you started for real? How did you get over it? Is it just this time of year? I have noticed cable just seems to lifeless sometimes.
  • #153,090
  • Jul 30, 2009 11:36am Jul 30, 2009 11:36am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
As said, All prepration for tomorrow folks...



ams
  • #153,091
  • Jul 30, 2009 11:40am Jul 30, 2009 11:40am
No reason to get so excited we are just ranging not even close to a breakout...

1hr chart
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  • #153,092
  • Jul 30, 2009 11:42am Jul 30, 2009 11:42am
Quoting a5h
Hi guys, this may not be the best place to post this type of thing but i have been following this thread daily and reading your posts for a couple of months now so here we go...

I recently made the transition from demo to live acount after 3 months + on demo of making a consistant profit. I am sure you have all heard this before but i have found the leap to live to be a shock to the system. Basically i have just closed the live acount after 2 weeks and a loss off 33% of my acount.

Losing real money just has a completly different psychological...
How big was your live account and how was your position sizing? If you lost 33% in two weeks, you must have been risking way too much or severely limiting your profitable trades. Trading anything more than 10K lots with anything less than 5K equity can affect your decision making unless you've been trading a very long time. Experience is the best teacher. It will teach you not to sweat your losses. Make your stops logical....as in setting them in accordance with S/R and not an arbitrary number. I've definitely been in that situation years ago. Good thing for you is that you only lost 33% of your account learning a valuable lesson and not 100% like most people have, including myself. Get back on the horse!
There's always money in the banana stand.
  • #153,093
  • Jul 30, 2009 11:42am Jul 30, 2009 11:42am
Quoting a5h
Hi guys, this may not be the best place to post this type of thing but i have been following this thread daily and reading your posts for a couple of months now so here we go...

I recently made the transition from demo to live acount after 3 months + on demo of making a consistant profit. I am sure you have all heard this before but i have found the leap to live to be a shock to the system. Basically i have just closed the live acount after 2 weeks and a loss off 33% of my acount.

Losing real money just has a completly different psychological...
i went through the same thing..the only thing i can say is i think its about trusting your edge..u have to get in a place in your trading where its like riding a bike u just do it..u dont think about it just happens..only then can u have the conviction to say in trade when theres drawdown...

and all the problems stem from that..set the stop and let the trade run..if u cant do this then u will in the long run always lose...

dont risk 100 pips drawdown if u cant stay in the trade for 100 pips profit...when i started id risk 100 pips and make 10 pips profit and close the trade because i was nervous about lossing..its all about self development.. using maths and probability..

learn to be wrong 10 times and have 1 winner and your profitable..then u will feel comfortable (ps i cant do this...but trying...LOL)
  • #153,094
  • Jul 30, 2009 11:43am Jul 30, 2009 11:43am
ok I have figured it out

I have a lot of shares and the only one that fell today is mcdonalds

McDonalds lost a lot at q2 because of the strong dollar

This tells me the market believes the dollar will strengthen more

So I have sold my mcdonalds at a loss and i am shorting cable and euro

Well its a logic trail of sorts
  • #153,095
  • Jul 30, 2009 11:47am Jul 30, 2009 11:47am
pulback time... to my first target 6450
everytime price hit the daily support or daily resistance it was overbougth or oversold and did retrace to the previous support or resistance and even more.

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  • #153,096
  • Jul 30, 2009 11:48am Jul 30, 2009 11:48am
I went long..
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  • #153,097
  • Jul 30, 2009 11:51am Jul 30, 2009 11:51am
Todays Highs have been well tested, and retested giving me confidence to go short with a larger SL atm, shall leave shorts overnight, and see what the morning brings
Make sure losses are small and profits are bigger!
  • #153,098
  • Jul 30, 2009 11:52am Jul 30, 2009 11:52am
Quoting nAVIN2007
I went long..
ROBOT FOREX
  • #153,099
  • Jul 30, 2009 11:57am Jul 30, 2009 11:57am
Quoting Forbes55
using my instinct
  • #153,100
  • Jul 30, 2009 11:58am Jul 30, 2009 11:58am
Quoting nAVIN2007
hi bro..

yes the way i see it..this is uptrend and we got a bearish signal and bears cant follow through..only one place to go..and its a big, big channel with already broke to go south and came back up...when the b*tch breaks wind we gonna fly...
LOL...no,no...this is actually what really happened...they tried to take off, then soon enough they found out, Oops, they're low on fuel, so they decided to play it safe and cancel the flight...and figured what the heck they might as well refuel over a cold one...LOL
Hear the music before the song is over ...
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