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Cable Update (GBPUSD)

  • #164,661
  • Sep 10, 2009 8:34am Sep 10, 2009 8:34am
Quoting topestyles
Thanks to everyone for the good words..but i am sacred it may be too late.My parents,friends,every one around all think i am an unserious person,they never believed the idea of online money making...they had no idea about forex even whenever i explain..they all say i am a lazy person cos i sit behind the computer all day trading....
Enough said, your life is worth more that that. If you are feeling sad, you should be, but don't drag it too long. Self pity is useless, step outside and have a smoke or a glass of beer.

This is the basic guideline that was taught to me (in Indonesian time/ +7 GMT):
1. Morning - probably just trade Yen. If the difference between today's high or low is less than 38, don't come in yet, as the Yen is prone to changing trend.

2. Afternoon - 1 PM - 2:30 PM if any of the 3 Musketeers (GU/ AU/ EU) break yesterday's high/ low, you can go in with the trend. The best indications will be if the 3 Musketeers break high or low ard the same time.

3. 2:30 PM - 3:00 PM don't trade...prone to volatility.

4. Risk management as mentioned by Worm Boy...VERY IMPORTANT

5. Go with the trend...for newbie scalping is what usually kill us. Don't be afraid to put a Stop Loss. I use yesterday's high or low +/- 2 pips as my S/L.

6. When in doubt (listen to Gershwin) don't come in. It's still money in the pocket. Forex world is a bottomless pit and endless sky...there will always tomorrow. Today's high might be tomorrow's low...

Hope that'll help. Sorry seniors, I don't know much reading graphs...
Please feel free to add or criticize...Thanks
  • #164,662
  • Sep 10, 2009 8:34am Sep 10, 2009 8:34am
Quoting spintrader
you mean cable down, dollar up right?
yes.. bearish moment has come.. lets pray together..
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #164,663
  • Sep 10, 2009 8:34am Sep 10, 2009 8:34am
what happenned 2 the euro, 100 pips fall in about 10 mins?
any breaking news? any bombings
  • #164,664
  • Sep 10, 2009 8:35am Sep 10, 2009 8:35am
Quoting skerdi-meta
what happenned 2 the euro, 100 pips fall in about 10 mins?
any breaking news? any bombings

just supply hitting the market @ 1.46
there was a hi volume 5min pinbar that gave a nice signal
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #164,665
  • Sep 10, 2009 8:35am Sep 10, 2009 8:35am
Quoting Yngwie
yes.. bearish moment has come.. lets pray together..
Bearish too for me bro, don't pray if it goes up or down doesn't matter, this is a high risk trade at this moment, difficult in my opinion as Eur/Usd was in range.
"Hate the sin, love the sinner." - Gandhi
  • #164,666
  • Sep 10, 2009 8:36am Sep 10, 2009 8:36am
Com'on guys let's not kick the guy while he is down. He's extremely distraught, some words of support goes a long way. Like we all try and support one another with the trading here.

I know he will find his feet again and become a bigger man.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #164,667
  • Sep 10, 2009 8:36am Sep 10, 2009 8:36am
Quoting Yngwie
yes.. bearish moment has come.. lets pray together..
I'm with you there my friend..
  • #164,668
  • Sep 10, 2009 8:37am Sep 10, 2009 8:37am
For those LONG, like me.... lets hope the S/R Line, formed at 1.6585 on the 8th August @ 11:00 GMT, tested on the 9th August 14:00 GMT and broken two hours ago holds.
  • #164,669
  • Sep 10, 2009 8:37am Sep 10, 2009 8:37am
Quoting Bull_Bear
Com'on guys let's not kick the guy while he is down. He's extremely distraught, some words of support goes a long way. Like we all try and support one another with the trading here.

I know he will find is feet again and become a bigger man.
I was down too when started but what helped is stay a side for about 1 month and write my rules down while I did some demo trading, and now I stick to the rules as a mad bull, less and less emotion everyday and you grow balls too when you have a very precise system.

Never give up topestyles, they want your money but soon you'll start to kick asses and laugh about old times.
"Hate the sin, love the sinner." - Gandhi
  • #164,670
  • Sep 10, 2009 8:40am Sep 10, 2009 8:40am
Quoting nAVIN2007
yo azim is this shit hectic or what dragon looks like we got sellers bro, hang tight..keep the faith..this is a very bad wekk for me if i get stopped id have lost all my profit from last week....

dont know whats going on..
you tell me nav.
2nd day running now lol. Take it easy bro, even with last week's gain, I have nothing to show for right now since positions are in -ve
But still hanging on with this current trade - barely. That last spike up almost took me out.
Let's see how this goes. Dragon's still in that rising wedge bro, looky very top heavy.
Thank You
  • #164,671
  • Sep 10, 2009 8:40am Sep 10, 2009 8:40am
Quoting I like steak
Tau...weather is good...wasup?
Howzit!

All good here. Just observing what the market is doing. If GU closes in the 160.00 area posted earlier, then this will be a sign for me that things have "normalized" a bit and I will take it from there.

Not in any hurry....

Thank you for asking. Appreciated.

Good trading!
  • #164,672
  • Sep 10, 2009 8:41am Sep 10, 2009 8:41am
Quoting Bull_Bear
Wormie wots happened to Dragon? She just does not want to move, lagging alot
The beast will move bro, just be prepared. Because when she does, you won't be able to catch your breath
Thank You
  • #164,673
  • Sep 10, 2009 8:42am Sep 10, 2009 8:42am
there is why it fell, not sure if this becomes a downtrend, but not sure
  • #164,674
  • Sep 10, 2009 8:42am Sep 10, 2009 8:42am
Quoting TheGabriel
Bearish too for me bro, don't pray if it goes up or down doesn't matter, this is a high risk trade at this moment, difficult in my opinion as Eur/Usd was in range.
yes.. we have Stoploss! LoL!
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #164,675
  • Sep 10, 2009 8:43am Sep 10, 2009 8:43am
here's the link sorry

http://www.forexlive.com/
  • #164,676
  • Sep 10, 2009 8:44am Sep 10, 2009 8:44am
Quoting TheGabriel

Wormy still nursing? going good bro? I'm now from -100 pips to -40 and holding.
Eur/Gbp went to the first bearish base I_like_steak
Yup. Not too good atm, but still in it. Let's see if our persistance pays
Thank You
  • #164,677
  • Sep 10, 2009 8:44am Sep 10, 2009 8:44am
Quoting topestyles
Thanks to everyone for the good words..but i am sacred it may be too late.My parents,friends,every one around all think i am an unserious person,they never believed the idea of online money making...they had no idea about forex even whenever i explain..they all say i am a lazy person cos i sit behind the computer all day trading....
Ore bawo ni? I sympathized with you, I ve been there and Im still there. nothin ease come easy, think about all the great people, there achievement comes after many failures. you need to stick in there and promised yourself you will not fail your self forget about your critics they dont count. on parting shot, I live u with these words from the greatest basket baller of all time
IVE MISSED OVER 9000 SHOTS IN MY CAREER. IVE LOST ALMOST 300 GAMES,26 TIMES IVE BEEN TRUSTED TO TAKE THE GAME WINNING SHOT --AND MISSED, IVE FAILED OVER AND OVER AND OVER AGAIN IN MY LIFE. AND THATIS WHY I SUCCEED
AIR JORDAN
  • #164,678
  • Sep 10, 2009 8:44am Sep 10, 2009 8:44am
Quoting Bull_Bear
Com'on guys let's not kick the guy while he is down. He's extremely distraught, some words of support goes a long way. Like we all try and support one another with the trading here.

I know he will find his feet again and become a bigger man.
I had a reason to respect you .....

Good Luck mate
Well Said....
Let Price determine your future!
  • #164,679
  • Sep 10, 2009 8:45am Sep 10, 2009 8:45am
Quoting TheGabriel
I was down too when started but what helped is stay a side for about 1 month and write my rules down while I did some demo trading, and now I stick to the rules as a mad bull, less and less emotion everyday and you grow balls too when you have a very precise system.

Never give up topestyles, they want your money but soon you'll start to kick asses and laugh about old times.

nobody has a precise system this is the problem, this is why he is in the situation he is in...
topestyles dont listen to BS..when u trade your speculating on market direction, anything can happen and will.....u use money management because u understand this....if your wrong there no pain because u assessed the risk b4 and knew what price u pay to find out if your right...

the reason why u feeling like this is because u never thought of losing the money cause u thought yur method was the holly grail, and only saw the winning....u need to read trading in the zone....

f*ck the system, precision and all this BS...its all b*ll*cks!!!!

that is the difference beween a trader thought process and get rich wanna be
  • #164,680
  • Sep 10, 2009 8:46am Sep 10, 2009 8:46am
Quoting Fx1618
For those LONG, like me.... lets hope the S/R Line, formed at 1.6585 on the 8th August @ 11:00 GMT, tested on the 9th August 14:00 GMT and broken two hours ago holds.
Okay, The Beast is at Resistance-TrendLine formed way back on the 2nd August.

We might see some ranging on Cable until either one decides on the way to go.... me bank North... at least for now

Current SL @ 1.6555

... back in a few, goodluck to all
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