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Cable Update (GBPUSD)

  • #160,381
  • Aug 25, 2009 1:17am Aug 25, 2009 1:17am
mr wormboy,
you are right with the dragon yesterday. i closed mine prematurely. anyway just a question if you don't mind anwering. how big is your SL? if the dragon is going south, will the GU act in the same way? somethin like the usd/chf vs euro/usd.
one more thing, which is more important, chart analysis or the news? sorry bugging you. just trying to find my way....thanks......
  • #160,382
  • Aug 25, 2009 1:17am Aug 25, 2009 1:17am
Quoting mikjurado
Bad day yesterday with my long... We're now @1.6387 61.8% fibo level... Daily chart is long... so be carefull at this point... Still holding my long from yesterday! but soon will touch my SL
this thing is tight ....
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  • #160,383
  • Aug 25, 2009 1:19am Aug 25, 2009 1:19am
some news for all..

Aug. 25 (Bloomberg) -- Asian stocks fell and Treasuries advanced as lower profit at Chinese companies and evidence of increasing loan losses in the U.S. sapped demand for risky assets. South Africa’s rand and the Australian dollar dropped as commodity prices declined.


Aug. 25 (Bloomberg) -- Crude oil dropped from a 10-month high as concerns that China may tighten lending and more U.S. loans may default pushed equities lower and strengthened the dollar, reducing the investment appeal of commodities.
  • #160,384
  • Aug 25, 2009 1:19am Aug 25, 2009 1:19am
took a short just right now @ 1.6400 TP open , SL 1.6450
  • #160,385
  • Aug 25, 2009 1:23am Aug 25, 2009 1:23am
just bought
looking for 16475
if reached i will sell from there..this is ashort trade but long term i am bearish in gbp/usd
1.60000 coming

just ssaying what i am doing ..;
h
good luck pro's..
i am still a student..
Don't compare your Trades with Others
  • #160,386
  • Aug 25, 2009 1:27am Aug 25, 2009 1:27am
Quoting wormboy
lol, now you're pushing it.

some wood to chop for us to get to 6165:
http://www.forexfactory.com/showpost...postcount=2608
Hee heee just hope it UP 1st then can reload again to hit target
  • #160,387
  • Aug 25, 2009 1:27am Aug 25, 2009 1:27am
Quoting urutu
mr wormboy,
you are right with the dragon yesterday. i closed mine prematurely. anyway just a question if you don't mind anwering. how big is your SL? if the dragon is going south, will the GU act in the same way? somethin like the usd/chf vs euro/usd.
one more thing, which is more important, chart analysis or the news? sorry bugging you. just trying to find my way....thanks......
my stops? it depends on the trade. I use previous high as stops, so it can be 30 pips, can be 200. It does not matter, I just adjust my position size according to the trade. If the stop is wide, I will reduce the risk by minimising the lotsize.
Fixed stops are useless the way I trade.
Dragon most of the time has similar movement as cable, it depends on uj. I suggest you have the overlay of uj on your cable chart to understand dragon better.
I personally do not care about news. I don't move the market, so I sure as hell don't waste my time trying to guess the outcome. Just trade the direction & follow the money
Thank You
  • #160,388
  • Aug 25, 2009 1:37am Aug 25, 2009 1:37am
Bit off the topic of daily discussion but is this my graph lying to me or was there really a 6000 pip drop mid 2002?

Good luck.
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  • #160,389
  • Aug 25, 2009 1:41am Aug 25, 2009 1:41am
Quoting DubaiFX;<br /> [COLOR=Red
good luck pro's..[/color]

pro's dont believe in luck its just the students..just a thought and if anything i think it be more fitting for the students to have been wished the luck..
  • #160,390
  • Aug 25, 2009 1:42am Aug 25, 2009 1:42am
I personally do not care about news. I don't move the market, so I sure as hell don't waste my time trying to guess the outcome. Just trade the direction & follow the money [/quote]
mr wormboy,
aaahhhh........that makes sense....was wondering all these while why the hell my SL kept being hit only for the flow going for the desired direction. really frustrating....thanks a lot sir. can't find these sort of info from any books. at least the ones i have read. thanks again.
  • #160,391
  • Aug 25, 2009 1:43am Aug 25, 2009 1:43am
Quoting nAVIN2007
this thing is tight ....
where is ur stop loss bro??
Don't compare your Trades with Others
  • #160,392
  • Aug 25, 2009 1:43am Aug 25, 2009 1:43am
Quoting wormboy
my stops? it depends on the trade. I use previous high as stops, so it can be 30 pips, can be 200. It does not matter, I just adjust my position size according to the trade. If the stop is wide, I will reduce the risk by minimising the lotsize.
Fixed stops are useless the way I trade.
Dragon most of the time has similar movement as cable, it depends on uj. I suggest you have the overlay of uj on your cable chart to understand dragon better.
I personally do not care about news. I don't move the market, so I sure as hell don't waste my time trying...
U nailed this one bro...

ps: i still seeing double
  • #160,393
  • Aug 25, 2009 1:46am Aug 25, 2009 1:46am
for bears...
  • #160,394
  • Aug 25, 2009 1:52am Aug 25, 2009 1:52am
Quoting Jimz
for bears...
Dive hehe
  • #160,395
  • Aug 25, 2009 1:53am Aug 25, 2009 1:53am
Quoting urutu
aaahhhh........that makes sense....was wondering all these while why the hell my SL kept being hit only for the flow going for the desired direction. really frustrating....thanks a lot sir. can't find these sort of info from any books. at least the ones i have read. thanks again.
lol stop calling me sir, I probably am much younger than you
And yea, no books will teach you this. It needs the market to give you a beating and getting half broke before you get to figure something like that up. Welp at least, that's how I figured the risk management part out lol.
Good luck with your trading
Thank You
  • #160,396
  • Aug 25, 2009 1:55am Aug 25, 2009 1:55am
Quoting nAVIN2007

ps: i still seeing double
lol I hope you get those glasses back on bro. No double, dollar steadying up
Thank You
  • #160,397
  • Aug 25, 2009 1:58am Aug 25, 2009 1:58am
Quoting DubaiFX
where is ur stop loss bro??
im not in the trade..i have no good entry..i have 2 charts..and the stoploss would be miles away..the monthly is bearish so any movement to the upside is limited..

i wouldnt advise to go against the downward momentum as it can move 100 pips in minutes lucky for u there plenty of congestion

doomed trade if u ask me..isnt worth the risk...but its not about what i think, are u prepared to risk this amount for it to go up is what u need to ask yourself..

good luck buddy STOPLOSS HAS TO BE BELOW 1.62
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  • #160,398
  • Aug 25, 2009 2:01am Aug 25, 2009 2:01am
Quoting GlobalMacro
OK..sorry bulls but you were warned to get your act together...
I shorted again at 1.6500....
Cable's now trading @ 1.6491

Morning All,
I am carrying my short position established yesterday from 1.6500, now in the money w/ 146 pips @1.6354 .
Will continue to run the shorts for now.
Attached Image
Hear the music before the song is over ...
  • #160,399
  • Aug 25, 2009 2:02am Aug 25, 2009 2:02am
Here's what I'm looking at:
http://www.forexfactory.com/showpost...postcount=2612

Okay, be back later. Trade safe fellas.

p/s : still selling
Thank You
  • #160,400
  • Aug 25, 2009 2:08am Aug 25, 2009 2:08am
Quoting wormboy
lol I hope you get those glasses back on bro. No double, dollar steadying up
When i go live i wont be doing this stuff..i need cable to sink i have been in this trade for 4 months now..might be 3 ..
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