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Cable Update (GBPUSD)

  • #176,921
  • Oct 15, 2009 10:18pm Oct 15, 2009 10:18pm
Quoting forexlion
big boys are cooking a tasty meal, all bulls are ivited

menu is bulls liver

in short:
we are very close to the top, trade with extra care
Maybe we're near the top, but I wouldn't short the Sterling yet. Closed my GU trade, so flat for the moment. Still long on GY.

With the Sainsbury M&A rumor and the news BOE may stop it's asset-purchase program on the back of the improving economy, we may see more upside to this.

Congratulations on the great trading!

I'm up 820 pips so far on the GU GY since London session yesterday. Amazing!

I've been posting my trades on the GY thread.
http://www.forexfactory.com/showthre...64#post3148564
  • #176,922
  • Oct 15, 2009 10:30pm Oct 15, 2009 10:30pm
Quoting forexlion
big boys are cooking a tasty meal, all bulls are ivited

menu is bulls liver

in short:
we are very close to the top, trade with extra care
I guess that when London opens, it will want to push it higher, it will try, if you want to catch top of this then it is too early, 6400 is only a on the way stop. Gonna look closely, but my bets are on the long side, will move sl at BE as quick as possible
  • #176,923
  • Oct 15, 2009 10:54pm Oct 15, 2009 10:54pm
i cant help myself to have another consecutive losses in shorting eur/gbp
3.0 lot SL @9265

i have this target to reduce my account by 1.5% every week
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  • #176,924
  • Oct 15, 2009 10:58pm Oct 15, 2009 10:58pm
AWESOME!!!
Congrats to you-

Up 502 atm on Dragon
and net 650 on Cable.

This is tough... At this point I want to give back nothing on retrace...

But will not let myself close on false break south only to be met by more buyers!

I would love to see Dragon meet 150.xx!!!

Quoting Fudomyo
Maybe we're near the top,-----
Congratulations on the great trading!

I'm up 820 pips so far on the GU GY since London session yesterday. Amazing!

I've been posting my trades on the GY thread.
http://www.forexfactory.com/showthre...64#post3148564
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #176,925
  • Oct 15, 2009 11:02pm Oct 15, 2009 11:02pm
Quoting Johor JCS
i cant help myself to have another consecutive losses in shorting eur/gbp
3.0 lot SL @9265

i have this target to reduce my account by 1.5% every week
Since the PA has confirmed this weekly fib is in action, you should use it. I have been using this fib to long the dips E/G since 0.85 zone. Until we go to the next line and ONLY IF we bounce can you start long again, your bias should be down (IMHO).
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  • #176,926
  • Oct 15, 2009 11:12pm Oct 15, 2009 11:12pm
Quoting sinner-
Since the PA has confirmed this weekly fib is in action, you should use it. I have been using this fib to long the dips E/G since 0.85 zone. Until we go to the next line and ONLY IF we bounce can you start long again, your bias should be down (IMHO).
cheers bro

i am expecting to loose 1.5% from my account every week, although the trend as u said is to long, but i keep on shorting it... my target is clear
  • #176,927
  • Oct 15, 2009 11:15pm Oct 15, 2009 11:15pm
Quoting XTrade
AWESOME!!!
Congrats to you-

Up 502 atm on Dragon
and net 650 on Cable.

This is tough... At this point I want to give back nothing on retrace...

But will not let myself close on false break south only to be met by more buyers!

I would love to see Dragon meet 150.xx!!!
nice!

I'm not a swing trader so don't like to let a lot of pips ride on an open trade.
What I did was close my lots on my target levels and opened new trades on a pullback on the 5M, moving my stop to BE shortly after. That way I don't give any pips back if we reverse. so the 820 pips are banked already.

I learned the hard way to stick to my TP targets so am pretty strict about closing my trades on plan. The broker fee is nominal to open a new trade if a rally keeps going. Everyone does it differently, but this works best for me.

I'm a stingy bastard with my broker, I don't like returning pips to them. lol
  • #176,928
  • Edited 11:42pm Oct 15, 2009 11:27pm | Edited 11:42pm
I am trying to swing/position trade more.

It has been more profitable to me. But I love being in and out throughout the day as well.

problem is the waiting for setup confirmation, the reward follows.

The only reason I made it this far was holding on the dips. I Can't look at M1
or M5 much really during the trade or else I may close too early.

Went from 375 pip area to 500 tonight by not closing, thus if losing 15 or 20 pips to ensure exit or hold, it is worth it.

Cable bounced too for me over 100+ tonight. same deal.

Btw, these are the 3rd and 4th most successful trades I have had yet, it does not always go as planned! such is learning FX, it never stops! Also made up for last nights losses.

this was my confirmation for trade

Cable was similar, did not post chart yet.

Quoting Fudomyo
nice!

I'm not a swing trader so don't like to let a lot of pips ride on an open trade.
What I did was close my lots on my target levels and opened new trades on a pullback on the 5M, ---
I'm a stingy bastard with my broker, I don't like returning pips to them. lol
XAU-XAG/USD_Gold n Silver Trader's Thread = Technicals, Fundamentals & News
  • #176,929
  • Oct 15, 2009 11:33pm Oct 15, 2009 11:33pm
Quoting grashid
ya notice that..almost to my target..just left 2 more pips and i just saw her atm...
Bro, I cant hold that 2pips anymore. Cant missed the first train for a short stop station...nanti belanja cincau tauuu...
Pride of opinion is a characteristic of losing traders
  • #176,930
  • Oct 15, 2009 11:44pm Oct 15, 2009 11:44pm
Quoting Fx1618
SL Moved > 1.6186
<send from mobile>
SLMoved to 1.6283 Banking 277 so far

... Thank You Lord

After successfully Demo trading for a while I re-funded my Live account for the third time with $300, living in SA, this is quite a bit of ZAR.

Unfortunately things went a bit peer shape and I was down to about $177 at the beginning of this week. If this trade exist on my SL, I'll be around $250 again.

Giving me back the confidence I needed with my System.

I'm away for the weekend leaving in a couple of hours, and updating from my mobile proofs to be a hassle, so if anyone is interested, the way I trade can be found at http://www.forexfactory.com/showthre...78#post3149978.

I only mention this, not because I think I can teach anyone, but before someone calls me a fake...
  • #176,931
  • Oct 15, 2009 11:57pm Oct 15, 2009 11:57pm
Quote
After successfully Demo trading for a while I re-funded my Live account for the third time with $300, living in SA, this is quite a bit of ZAR.

Hey Fx1618!
One more SA trader. I'm currently living PE. Been trading for about a year now. I blew my first mini account, went back to demo and is now currently trading with a micro account. Things are going much better now. The 1$/pip or R8/pip with only a $200 account was too much for me too handle so early on. My emotions took over. Now I'm much more comfortable with my trading and I'm learning more.

Nway should get to work. Good luck with the trading and may the pips be with you! Cool runnings.
  • #176,932
  • Oct 15, 2009 11:59pm Oct 15, 2009 11:59pm
any one shorting at 1.6450???
  • #176,933
  • Oct 16, 2009 12:01am Oct 16, 2009 12:01am
Hi Guys,

Thanking you all for your input and contribution to trading.

I have been a keen observer laterly, I trade real money in small lots and have made a loss for the last 2 weeks, looking at the charts it seems that I have had to work hard to acheive this, trust me it came easy.

I suspect I can turn things arround next week.

This is my chart of the daily and I feel by Monday at the latest we will see some confirmation of a continuation or reversal.

I feel it is in a long term down trend, but to state the obvious in a short term retracement, or up trend depending on your TF.

Due to stressed circumstances and unfamiliarity with the FF platform I have not participated as much as I would like, but trust me I am learning.

Many thanks and happy trading.
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  • #176,934
  • Oct 16, 2009 12:13am Oct 16, 2009 12:13am
Hi Guys,

It is to early to say, about 50 minutes early IMO but are they (possible) crows I can see.

My defination is rusty, but 3 1 hour down bars seems to fit the bill.

Early minutes yet, confirmation or otherwise on its way.

Happy trading.
  • #176,935
  • Oct 16, 2009 12:15am Oct 16, 2009 12:15am
hi....
please advise me.. i already sell @ 1.6267
sill floating loss
can i hold the post or better close
coz some our freinds predict next week GU will down
  • #176,936
  • Oct 16, 2009 12:16am Oct 16, 2009 12:16am
good morning ff,
i expect gbp/usd a pullback to 1.62 and gbp/jpy pullback 1.46 to go long again, just wait fo an entry ^^
  • #176,937
  • Oct 16, 2009 12:33am Oct 16, 2009 12:33am
Quoting PiptheRipper
The 1$/pip or R8/pip with only a $200 account was too much for me too handle so early on.
Hey Pip
Was my exact same problem... Myself trade Mini account or Micro not sure... Only trade 5% of my Balance which translates to 0.20 at $200. I will try and fund the account every month with at least $100 if necessary until I grew it large enough that that wont make a difference anymore.

I use compounding so at $250 I'll be trading 0.25 per lot and so on.

It was a metal shift called MM in here to get to this point. But hey... $0.2 x 50 pips is ruffly ZAR75 and after year or so $2x 50 pips = ZAR750... then we can start living.

Good luck to you

ps. I'm in Pretoria
MM
  • #176,938
  • Oct 16, 2009 12:40am Oct 16, 2009 12:40am
HI Guys,

For what it is worth the NZD USD the AUD USD and the EUR USD are going down, and the USD CHF is going up, on the 1/2 hourly and hourly it looks to me like a confirmation that cable has topped. However it does not happen untill it happens.

Happy trading
  • #176,939
  • Oct 16, 2009 12:49am Oct 16, 2009 12:49am
Quoting sunway
hi....
please advise me.. i already sell @ 1.6267
sill floating loss
can i hold the post or better close
coz some our freinds predict next week GU will down
Hi Sunway,

I lack the experence of many traders here however to answer that fully I wold have to know your account size to position size, and your risk tollerance.

Having said that if it was me, and I know all the above about myself, I would hold, Frankfurt opens soon, and london an hour after that, stand by for a reversal or continuation, and within the next 3 hours a 100 pip move one way or another (on a typical day)

By the time it starts you will know, its to early to say yet.

Please make your own decision, I cannot do that for you.

Happy trading.
  • #176,940
  • Oct 16, 2009 1:00am Oct 16, 2009 1:00am
Not crows or a valid reversal signal I can pick.

Happy trading
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