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Cable Update (GBPUSD)

  • #163,061
  • Sep 3, 2009 5:22am Sep 3, 2009 5:22am
Quoting albchr
Too crazy for the way I have to trade right now. Once I get to a point more like a position trader, I'll trade her as well.
yo chrissy..

u know bro! i find trading cable the worst currency.....its ping pong for real
dragon moves fast....but it moves like expected not so mush like ping...

go in small bro...like u say to me..u have the tools and it certainly will help with the bills..

trade safe my amigo
  • #163,062
  • Sep 3, 2009 5:24am Sep 3, 2009 5:24am
is there any possibilities to touch 6329..?
  • #163,063
  • Sep 3, 2009 5:26am Sep 3, 2009 5:26am
Quoting wormboy
welp, malcolmb trades this pair using low timeframes with great success bro.
Think it's like what fx1618 said, you need to familiarize yourself with the pair.
:d howz ya wormie n howz ur trade
  • #163,064
  • Sep 3, 2009 5:27am Sep 3, 2009 5:27am
So were is the next resistance now?
  • #163,065
  • Sep 3, 2009 5:27am Sep 3, 2009 5:27am
If anybody ever doubted the power of macroeconomics, just check the services PMI figures this morning on FF and check out the PA reaction to it since...almost 100 pips...

Remember: 'Taint watcha do, it's the way thatcha do it...
Hear the music before the song is over ...
  • #163,066
  • Sep 3, 2009 5:28am Sep 3, 2009 5:28am
cable breaking just above the prev 4hr swing hi=previous res=potential res zone to the 50% fib of the 6665-6108 swing down @ 6387.
ex member
  • #163,067
  • Sep 3, 2009 5:29am Sep 3, 2009 5:29am
Quoting Faryad
:d howz ya wormie n howz ur trade
hey faryad
No trade atm, except a small short on dragon I just took. Don't think I'll put any serious money on the line today. (serious by my standards anyway )
Thank You
  • #163,068
  • Sep 3, 2009 5:31am Sep 3, 2009 5:31am
Quoting wormboy
hey faryad
No trade atm, except a small short on dragon I just took. Don't think I'll put any serious money on the line today. (serious by my standards anyway )
  • #163,069
  • Sep 3, 2009 5:33am Sep 3, 2009 5:33am
Quoting wormboy
welp, Malcolmb trades this pair using low timeframes with great success bro.
Think it's like what fx1618 said, you need to familiarize yourself with the pair.
True but then comparing me to malcolmb is....well...there is NO comparison...LOL He knows SO much more about trading and markets in general.

I have been learning about volume as well but alas, there is only so much studying one can do at one time...lol So I've been trying to prioritize my learning as to what works best "near term" for my situation. Which, ATM, is looking for smaller moves (of course I'll take the bigger ones too), tighter entries with little to no draw down and smaller SL's and with slightly larger positions.

This is why I've been learning EO's method. I have a ways to go but it's now getting to the point where my eye is beginning to see the setups pretty quick. So far, it seems it's working well....
Ghost Rider - WWTBMD?
  • #163,070
  • Sep 3, 2009 5:36am Sep 3, 2009 5:36am
Quoting nAVIN2007
Nav!
What's up bro? Why the long face?
Thank You
  • #163,071
  • Sep 3, 2009 5:36am Sep 3, 2009 5:36am
Quoting qp2
He is talking about money management in this context, mm can also mean mickey mouse a completely diferent concept meaning "disneylandish"

I hope I dont confuse the issue by saying some times my MM (money management) is MM mickey mouse, this leads to loses getting out of hand.

I feel my major mistakes are now in the past, if they are not I cannot afford to keep trading.

I hope this helps.
great explanation bro.. thanks alot..yea mickey mouse in disneylandish.. haha..
Play it HarD*
  • #163,072
  • Sep 3, 2009 5:37am Sep 3, 2009 5:37am
Good day to you,

All I can see right now is Tuesday's high @ 1.6373 , round number 1.6400 and then the upper level of the weekly channel by low @ 1.6420. Hope this assists.

Regards
  • #163,073
  • Sep 3, 2009 5:38am Sep 3, 2009 5:38am
Quoting wormboy
hey faryad
No trade atm, except a small short on dragon I just took. Don't think I'll put any serious money on the line today. (serious by my standards anyway )
So tempting, but have to compensate my loss in cable. I was so close to pulling the trigger. BUT self control talk sense into me lol....
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,074
  • Sep 3, 2009 5:38am Sep 3, 2009 5:38am
Quoting nAVIN2007
yo chrissy..

u know bro! i find trading cable the worst currency.....its ping pong for real
dragon moves fast....but it moves like expected not so mush like ping...

go in small bro...like u say to me..u have the tools and it certainly will help with the bills..

trade safe my amigo
I know what you mean my brother. But like WB just said, being familiar with a pair is important and I've traded cable from the start. Although I must say, she ain't behaving like she did when I started this Forex journey a year ago...

But given the worlds economies, I'm thinking that's to be expected I guess. Things weren't "quite" the mess they are now back then. I'm taking small steps buddy, but they're going in the right direction now....
Ghost Rider - WWTBMD?
  • #163,075
  • Sep 3, 2009 5:39am Sep 3, 2009 5:39am
Short @ 1.6382 Stop loss @ 1.6520
Target.....Put it this way I have given up swinging this thing for the last month or so as i have hit break even more than I have made profit lol...
Let Price determine your future!
  • #163,076
  • Sep 3, 2009 5:42am Sep 3, 2009 5:42am
Quoting wormboy
Nav!
What's up bro? Why the long face?

cause we on opposites on dragon..
  • #163,077
  • Sep 3, 2009 5:43am Sep 3, 2009 5:43am
Quoting albchr
True but then comparing me to malcolmb is....well...there is NO comparison...LOL He knows SO much more about trading and markets in general.

I have been learning about volume as well but alas, there is only so much studying one can do at one time...lol So I've been trying to prioritize my learning as to what works best "near term" for my situation. Which, ATM, is looking for smaller moves (of course I'll take the bigger ones too), tighter entries with little to no draw down and smaller SL's and with slightly larger positions.

This is...
okay, point taken.
Don't worry bout it tho, you'll come around I'm sure.
Btw, just a heads up, double top & crows on dragon. Just a thought.
Good luck
Thank You
  • #163,078
  • Sep 3, 2009 5:44am Sep 3, 2009 5:44am
Quoting Geppyg
Short @ 1.6382 Stop loss @ 1.6520
Target.....Put it this way I have given up swinging this thing for the last month or so as i have hit break even more than I have made profit lol...
Thats right bro, keep your stops tight especially at this stage How you been kicking?
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #163,079
  • Sep 3, 2009 5:45am Sep 3, 2009 5:45am
Quoting albchr
I know what you mean my brother. But like WB just said, being familiar with a pair is important and I've traded cable from the start. Although I must say, she ain't behaving like she did when I started this Forex journey a year ago...

But given the worlds economies, I'm thinking that's to be expected I guess. Things weren't "quite" the mess they are now back then. I'm taking small steps buddy, but they're going in the right direction now....
small step is needed to climb mountains
  • #163,080
  • Sep 3, 2009 5:45am Sep 3, 2009 5:45am
Quoting nAVIN2007
cause we on opposites on dragon..
lol okay. m5 heads up bro. Might play out, might not who knows
Thank You
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