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Cable Update (GBPUSD)

  • #162,161
  • Sep 1, 2009 4:08am Sep 1, 2009 4:08am
Quoting nAVIN2007
A new low ..that fact that we danced aroud so long..is a sign of a big fall..trading live is very different...first time i was shaking, now i can think straight but i exited a winning position....and thats a sign of weakness, i need to work on that!

at least 1.59 i think
Dont worry I have exited early just as it moves in my direction, nothing worse when you do that, of course theres always the next one!

I still get nervous and I have been doing this for a few months now (watching the market on and off for about 2 years), I think the key is having rules and sticking to them- even when its tempting to break them!
Last week started badly for me and got worse, pulled out just before a big move in my direction and then followed with three consecutive losses!Worst since starting to trade, destroyed my strike rate.

This week will be better, one of my rules is 1 trade a day, just to start, as I learn more I will expand on that, had a nice win today, so dont want to throw those pips away!

Best of luck!
  • #162,162
  • Sep 1, 2009 4:14am Sep 1, 2009 4:14am
closed short @ 16249 from 16349 fast +100p on london session non bad
tageted to 16210 but
  • #162,163
  • Sep 1, 2009 4:20am Sep 1, 2009 4:20am
Hey guys,

wish i was on 2 hours earlier.. hope you guys made the most of it..
Cheers!
  • #162,164
  • Sep 1, 2009 4:21am Sep 1, 2009 4:21am
Quoting antic81
Dont worry I have exited early just as it moves in my direction, nothing worse when you do that, of course theres always the next one!

I still get nervous and I have been doing this for a few months now (watching the market on and off for about 2 years), I think the key is having rules and sticking to them- even when its tempting to break them!
Last week started badly for me and got worse, pulled out just before a big move in my direction and then followed with three consecutive losses!Worst since starting to trade, destroyed my strike rate.

This...

u too buddy...
  • #162,165
  • Sep 1, 2009 4:21am Sep 1, 2009 4:21am
like I said, trending down. This is textbook stuff.

Same H4 channel last week :
http://www.forexfactory.com/attachme...3&d=1251473517

Same H4 channel earlier when I positioned a short :
http://www.forexfactory.com/showpost...postcount=2714

Same H4 channel attached below. Boo Yah!
Attached Image (click to enlarge)
Click to Enlarge Name: gu4s.JPG Size: 74 KB
Thank You
  • #162,166
  • Edited 4:39am Sep 1, 2009 4:21am | Edited 4:39am
I now have a small long at 1.6242 SL 1.6230 as I expect a swing rebound after that sudden drop.
  • #162,167
  • Sep 1, 2009 4:21am Sep 1, 2009 4:21am
Quoting antic81
Dont worry I have exited early just as it moves in my direction, nothing worse when you do that, of course theres always the next one!

I still get nervous and I have been doing this for a few months now (watching the market on and off for about 2 years), I think the key is having rules and sticking to them- even when its tempting to break them!
Last week started badly for me and got worse, pulled out just before a big move in my direction and then followed with three consecutive losses!Worst since starting to trade, destroyed my strike rate....
With you on the rule breaking matey! First urge I get after a loss is to get REVENGE on the market and jump straight back in.

Note to self: DONT JUMP STRAIGHT BACK IN!!!!!

m
  • #162,168
  • Sep 1, 2009 4:25am Sep 1, 2009 4:25am
I've used this chart alone for countless time. Same shit, different day.
The descending utl keeping buyers at bay. Good luck going long.

http://www.forexfactory.com/attachme...5&d=1251474409

same chart below
Attached Image (click to enlarge)
Click to Enlarge Name: gu4sa.JPG Size: 89 KB
Thank You
  • #162,169
  • Sep 1, 2009 4:28am Sep 1, 2009 4:28am
Quoting wormboy
I've used this chart alone for countless time. Same shit, different day.
The descending utl keeping buyers at bay. Good luck going long.

http://www.forexfactory.com/attachme...5&d=1251474409

same chart below
LOL...... I can't hear say it louder
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #162,170
  • Sep 1, 2009 4:30am Sep 1, 2009 4:30am
Quoting Bull_Bear
LOL...... I can't hear say it louder
BOO YAH!! BADA BING BADA BOOM!!
Thank You
  • #162,171
  • Sep 1, 2009 4:34am Sep 1, 2009 4:34am
Quoting albchr
Yeah, I think the Asian session will bring it up a little higher (maybe 6300/30 area) for a better entry heading south. In the longer term (next couple months), I'm bearish on this pair overall. But as always, there will plenty of opportunity in both directions to fill the pip mobile...

Ghost Rider - WWTBMD?
  • #162,172
  • Sep 1, 2009 4:40am Sep 1, 2009 4:40am
Good albchr! I also had a sell last night wich i left opened.
"Hate the sin, love the sinner." - Gandhi
  • #162,173
  • Sep 1, 2009 4:40am Sep 1, 2009 4:40am
Quoting Pyramus
I now have a small long at 1.6242 SL 1.6230 as I expect a swing rebound after that sudden drop.
Still in the game for my longs added another at 1.6225
  • #162,174
  • Sep 1, 2009 4:40am Sep 1, 2009 4:40am
Quoting Pyramus
I now have a small long at 1.6242 SL 1.6230 as I expect a swing rebound after that sudden drop.
That was fruitful. What made you go long? Any method behind your trading decision? These are the imposing question for you to think about when you place a every trade. food for thought......
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #162,175
  • Sep 1, 2009 4:46am Sep 1, 2009 4:46am
Quoting Bull_Bear
That was fruitful. What made you go long? Any method behind your trading decision? These are the imposing question for you to think about when you place a every trade. food for thought......
Well not much space to drop below and after reaching 1.6375 I don't believe that all bulls suddenly turn bear most of them still hanging on there for a re-test.
  • #162,176
  • Sep 1, 2009 4:46am Sep 1, 2009 4:46am
Quoting TheGabriel
Good albchr! I also had a sell last night wich i left opened.
Yep, waking up to this is better than sex. Think I'll go have a smoke....
Ghost Rider - WWTBMD?
  • #162,177
  • Sep 1, 2009 4:51am Sep 1, 2009 4:51am
Quoting Pyramus
Well not much space to drop below and after reaching 1.6375 I don't believe that all bulls suddenly turn bear most of them still hanging on there for a re-test.
Thats guessing and gambling on gut feeling. Theres no room that type of play in the forex market. You will learn the hard way if you don't start to learn the mechanics of trading. If not continue as you are and most people will tell you the outcome.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #162,178
  • Sep 1, 2009 5:00am Sep 1, 2009 5:00am
mr wormboy,
hope you don't mind this silly question from this idiot again. how do you guys draw the chart and have the ability to predict the flow or shall i say the swing? not just 20,30 pips but much more than that. how you guys know where to put what? most of my trade i rely on price action only. its good for small pips like 20, 30 or so.
furthermore, how the hell you guys draw it? i'm using metatrade 4 platform and i can't draw like that. or shall i put it i don't know how? thanks in advance.
  • #162,179
  • Sep 1, 2009 5:00am Sep 1, 2009 5:00am
Quoting Bull_Bear
Thats guessing and gambling on gut feeling. Theres no room that type of play in the forex market. You will learn the hard way if you don't start to learn the mechanics of trading. If not continue as you are and most people will tell you the outcome.
I have learned the hard way already and been there also learned from my previous mistakes I can easily spot re-occuring trade scenario and learned how to trade them that is just for me of course. But one thing is for sure I'm just risking a small portion of what I had already earned for today's trade.
  • #162,180
  • Sep 1, 2009 5:00am Sep 1, 2009 5:00am
The correction we're having is similar to the one we've had at the same level with previous bearish wave...story repeats itself again, if it moves down again to 1.620 as I expect it will be exactly the same movement repeated.
"Hate the sin, love the sinner." - Gandhi
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