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Cable Update (GBPUSD)

  • #154,501
  • Aug 3, 2009 11:47am Aug 3, 2009 11:47am
Quoting nAVIN2007
yes i guess so..
every1 has a price to get nervous with real money thou..
So true...
Ghost Rider - WWTBMD?
  • #154,502
  • Aug 3, 2009 11:48am Aug 3, 2009 11:48am
Quoting Turveyd
Got to get over that fear of losing, why do you think we are all demo account millionaires!!
if someone can truely turn a small demo account into a million without refunding demo money then person has a mastery of his craft and yes there's a really high likelihood that that person can replicate that performance in real-money account...in this case and only this it's NOTHING - ZILCH to do with emotions, psychology etc. because he/she has already got that part down when he hit the millions on a simulated enviroment...
Hear the music before the song is over ...
  • #154,503
  • Aug 3, 2009 11:48am Aug 3, 2009 11:48am
Anyway, looks like the market is done giving chances to trade today. You all have a great day!
Ghost Rider - WWTBMD?
  • #154,504
  • Aug 3, 2009 11:48am Aug 3, 2009 11:48am
Quoting alex1976
Damm true!

Trying to pick a top or trade a turn is like trying to surf into the wave instead of with it!

I am guilty of this many a time, and I know its wrong, but have not yet fully controlled my emotions to hold off of trades like that.

When I do, and just take trades with the immediate trend, then Im sure I will start being consistently succesful.
u really will bro! .....its the biggest change in my trading..trend is yur friend..
i used alway post in here and was known to always get the direction wrong, remember..(nav indicator bullshit) it nice to now start making good decision which lead to profit..its a start aye
  • #154,505
  • Aug 3, 2009 11:49am Aug 3, 2009 11:49am
Quoting alex1976
Albchr, that is also very true, cause sometimes I myself think I am trading what I'm seeing, only to find out that I was wrong!

So of course its easier said than done, to trade what you see!

Im not successful yet although I know what I am doing sometimes is wrong.

Sometimes the trend changes, that is what your SL and the EXIT button is for it doesn't change often though thankfully.

And when it does keep your loss as small as possible and make your profits exceed your losses.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,506
  • Aug 3, 2009 11:49am Aug 3, 2009 11:49am
Quoting albchr
Anyway, looks like the market is done giving chances to trade today. You all have a great day!

chris u doig well buddy?..
  • #154,507
  • Aug 3, 2009 11:51am Aug 3, 2009 11:51am
Quoting GlobalMacro
if someone can truely turn a small account into a million without refunding demo money then person has a mastery of his craft and yes there's a really high likelihood that that person can replicate that performance in real-money account...in this case and only this it's NOTHING - ZILCH to do without your emotions, psychology etc. because he/she has already got that part down when he hit the millions on a simulated enviroment...

I've never ran as far as the millions, but we likely all could do it.

Demo is pretty void of emotions and fear and greed to me so Demo just doesn't translate into my live account sadly.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,508
  • Aug 3, 2009 11:54am Aug 3, 2009 11:54am
Quoting nAVIN2007
u really will bro! .....its the biggest change in my trading..trend is yur friend..
i used alway post in here and was known to always get the direction wrong, remember..(nav indicator bullshit) it nice to now start making good decision which lead to profit..its a start aye

Nav don't take this the wrong way but........

Your screwed until you reduce your TF, your trades on moves that are dead and long gone, or you can turn into a 2 - 3 day hold swing trader that what H4 is for, not intraday trades.

Chris how is M15 and H1 going ?? Finding the market easier to read yet ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,509
  • Aug 3, 2009 11:54am Aug 3, 2009 11:54am
You don't want to "buy now", you'll need to wait for another key area to be broken before going in. If you're already in, raise your SL's, book in profits and ride it... We should see some sideways movement for a bit, and a break of 1.7000 should see a 1.7138 on the cards, this is a key resistance area, then play the pullback from there, should the key points be hit.

Quoting albchr
So you're saying trust the up trend and buy, right?
PM Me If You Need Help!
  • #154,510
  • Aug 3, 2009 11:55am Aug 3, 2009 11:55am
Quoting nAVIN2007
chris u doig well buddy?..
Not too shabby this morning Nav. Made back quite a bit of last month's losses. I see your position is still working well...
Ghost Rider - WWTBMD?
  • #154,511
  • Aug 3, 2009 11:57am Aug 3, 2009 11:57am
Quoting GlobalMacro
if someone can truely turn a small demo account into a million without refunding demo money then person has a mastery of his craft and yes there's a really high likelihood that that person can replicate that performance in real-money account...in this case and only this it's NOTHING - ZILCH to do with emotions, psychology etc. because he/she has already got that part down when he hit the millions on a simulated enviroment...
from what u know of me...how now would u think id perform on live account..do u think now i could be ready?..tips, what i can improve on plz suggest good or bad yur view is wellcome ..
  • #154,512
  • Aug 3, 2009 11:58am Aug 3, 2009 11:58am
Interesing GU's turned down, only Short and Medium wise, ( 23SMMA and 100SMMA nearing the 540SMA / 6900 where the longer term trends should push it up again.

Expect a dip to 6890 to take out the SL's under there before reversing before they can get back in!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,513
  • Aug 3, 2009 11:58am Aug 3, 2009 11:58am
Quoting albchr
Not too shabby this morning Nav. Made back quite a bit of last month's losses. I see your position is still working well...
my target should be hit this week..
  • #154,514
  • Aug 3, 2009 11:59am Aug 3, 2009 11:59am
Quoting BobHall
You don't want to "buy now", you'll need to wait for another key area to be broken before going in. If you're already in, raise your SL's, book in profits and ride it... We should see some sideways movement for a bit, and a break of 1.7000 should see a 1.7138 on the cards, this is a key resistance area, then play the pullback from there, should the key points be hit.

I wouldn't think of it. I have the same 7000 area in mind. I'd love to play some pullbacks, if we had any today...LOL

Looks like she's coming down a bit now. Who knows, might get a nice long entry again around the 6850ish area....
Ghost Rider - WWTBMD?
  • #154,515
  • Aug 3, 2009 11:59am Aug 3, 2009 11:59am
Quoting nAVIN2007
from what u know of me...how now would u think id perform on live account..do u think now i could be ready?..tips, what i can improve on plz suggest good or bad yur view is wellcome ..
You've just got to DO IT!!! and Keep doing it, and keep asking yourself WHY it goes wrong ( sometimes even a perfect trade will fail ofcourse ), thats the only way to learn.

Yes you've got to pay to learn, but IF and this is a IF you crack it, the gains are worth the effort ( well better had be after all the time I've put in )
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,516
  • Aug 3, 2009 12:01pm Aug 3, 2009 12:01pm
Quoting Turveyd
You've just got to DO IT!!! and Keep doing it, and keep asking yourself WHY it goes wrong ( sometimes even a perfect trade will fail ofcourse ), thats the only way to learn.

Yes you've got to pay to learn, but IF and this is a IF you crack it, the gains are worth the effort ( well better had be after all the time I've put in )
There worth it!
Just digging in the trenches like everyone else!
  • #154,517
  • Aug 3, 2009 12:01pm Aug 3, 2009 12:01pm
Quoting RichLadyFX
I see. Its very boring without a position! Short@6935 and lets hope.
Hi RichLadyFx, hope you still have the position and you're already in profit
  • #154,518
  • Aug 3, 2009 12:04pm Aug 3, 2009 12:04pm
Quoting eohater
There worth it!

That's what I like to hear

As WW3 starts and money becomes worthless LOL
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #154,519
  • Aug 3, 2009 12:08pm Aug 3, 2009 12:08pm
Quoting Turveyd
I've never ran as far as the millions, but we likely all could do it.

Demo is pretty void of emotions and fear and greed to me so Demo just doesn't translate into my live account sadly.
I used a million because you said "demo account millionaires"...take any benchmark you like...if a person can grow a small demo account in a CONSISTENT manner into a respectable level within a reasonable amount of time (6-12 months) with realistic risk parameters then there's a no doubt in my mind that there's VERY high likelihood of that person being able to replicate the same methodology in a real-money environment without psychology, emotions, what have you, interfering...
these factors serve only as a smoke screen for the inherent shortcomings of the trading system being utilized. A good trading system (be it discretionary or mechanical) incorporates contingencies as to accomodate the inevitable psychological pressures.
Now please don't confuse someone just using a demo to experiment strategies or growing an account wild-west style with unrealistic risk provisions and within extremely short time....with what I outlined above.
Hear the music before the song is over ...
  • #154,520
  • Aug 3, 2009 12:11pm Aug 3, 2009 12:11pm
Quoting nAVIN2007
from what u know of me...how now would u think id perform on live account..do u think now i could be ready?..tips, what i can improve on plz suggest good or bad yur view is wellcome ..

It's funny Nav, you know my story so, when I was demoing I had to try really hard to treat it as real because my family depends on it. I felt every win, every loss and rode the emotional roller coaster like mad. There were many times my wife had to tell me not to beat myself up so much.

Now that I'm live, I have to try really hard to think of it as a demo and forget the money aspect of it. (Not easy in my situation as you know) Especially with the huge risk I must take, but I try.
Ghost Rider - WWTBMD?
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