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Cable Update (GBPUSD)

  • #183,341
  • Nov 17, 2009 5:58am Nov 17, 2009 5:58am
Quoting gammase1
Forget it, mate.
lol
  • #183,342
  • Nov 17, 2009 5:59am Nov 17, 2009 5:59am
Quoting gammase1
Hey Pipland,

Long time! How's it going?

He didn't mention any s/l in his strategy, so he will eventually be wiped out.

Did you read about David Einhorn's (the guy who predicted the fall of Lehman) prediction regarding Japan's dire fiscal position? He is of the opinion that, with public sector debt at 200% of GDP, they may have now passed the point of no return, meaning a major currency crisis potentially looms. In response to this, CDS prices for the cost of insuring JGBs have doubled in recent weeks.

All the best, Paul
Hi Paul, going good thnx. Certainly has been a long time. How you been?

I havent seen that exact article but I have been doing a lot of reading suggesting the same outcome for the Yen.

Looks like conslidation patterns in some Yen pairs, im looking to start dumping it v soon!

USD/JPY may be the best vehicle
  • #183,343
  • Nov 17, 2009 5:59am Nov 17, 2009 5:59am
Quoting nAVIN2007
PAUL that is not fair..August 2008? would have killed any1..i know this cause i tried it

u know the answer already.. good question
I done badly in August 2008, too. I think we were both long cable when price broke out of range at 1.95(?) and too slow to acknowledge what was happening.

But he needs to robustly test the EA over different types of markets, rather than make blind and dangerous assumptions based on a trial in tight ranging markets. He would likely have been killed in EURJPY from August to the start of November in 2008, where 400-500 pips a day moves weren't an uncommon feature in the market.
  • #183,344
  • Edited 6:17am Nov 17, 2009 6:06am | Edited 6:17am
Quoting gammase1
I done badly in August 2008, too. I think we were both long cable when price broke out of range at 1.95(?) and too slow to acknowledge what was happening.

But he needs to robustly test the EA over different types of markets, rather than make blind and dangerous assumptions based on a trial in tight ranging markets. He would likely have been killed in EURJPY from August to the start of November in 2008, where 400-500 pips a day moves weren't an uncommon feature in the market.

actually that period is why i cant long in cable, it emotionally finished me off..thats why i short cause i know if im wrong it wont kill as quick.

august...bloody hell man..price fell to the bottom like i never thought it would.

all i remember is amertrini say (he was long too) " dont worry u wont regret it"..man did i regret..bless him wherever he is...i do miss jamie

I will go far to say if i didnt trade that period id be a much better trader today..assuming the loss didnt teach me anything
Edit: - nope it did: money management
  • #183,345
  • Nov 17, 2009 6:21am Nov 17, 2009 6:21am
Quoting PipLand
when the yen collapses he may get to test his system live! I hope it incorporates a SL somewhere!

The averaging down works well, yes it's risky you need 2 things to make it work :-


1. A sensible line in the same for your SL, mine is generally 200ema, but 600sma and 1440sma work for me to.
2. You need to make enough profit when you profit so that 2 positive trades = @1 loss if your SL is hit, if you can't hold for atleast 50% of your worst case loss don't bother.

I had a run of 23 profits in a row off this, but didn't have the exit strategy so badly slapped the account ofcourse, you can get a win rate of 90%+ easy IF your good.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,346
  • Nov 17, 2009 6:23am Nov 17, 2009 6:23am
Quoting nAVIN2007
nope it did: money management
Sorry mate didn't teach you that, it taught you FEAR and since you trade at such a low lever of risk you'll never make more than scraps.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,347
  • Nov 17, 2009 6:25am Nov 17, 2009 6:25am
Quoting w4rrenminded
da previous chart ..

http://www.forexfactory.com/showpost...stcount=183225

this is my view at glance

Attachment

"just" a c0ns0lidati0n bef0re breaching new high 4m0nths peri0d
t0lerance whenever she's still inside that silly f0rk

happy pipping f0lks
is that a pair of cable yellow eyes u were drawing? it might be a call for cable awaken from sleep and fly even higher?
  • #183,348
  • Nov 17, 2009 6:29am Nov 17, 2009 6:29am
Quoting Turveyd
Sorry mate didn't teach you that, it taught you FEAR and since you trade at such a low lever of risk you'll never make more than scraps.

really..
u know i have thinking about it and i come up with your greed is one of the reasons why trading can be difficult.

in april next year i plan to place an extra 14k into trading account then i can trade minilot...right now im concerned with technicals and a defined method..then i can try my luck

stop being so damn greedy u might actually make money
making scaps is better than making no profit
Attached Image (click to enlarge)
Click to Enlarge Name: trade.GIF Size: 36 KB
  • #183,349
  • Nov 17, 2009 6:34am Nov 17, 2009 6:34am
Look like a push to the 61% ret. setting up
A. Finesse Williams Making Millions One Pip At A Time!
  • #183,350
  • Nov 17, 2009 6:35am Nov 17, 2009 6:35am
Quoting paromi
i blowed my account..

well... it can happens. i think many of us (a lot of us???... all of us??) blowed our account one or two, or three times... don't hesitate, think again, use demo or nanolots (interbank, oanda, marketiva), read about MM, risk/reward ratios, etc, search for a method in what you feel comfortable, and start again very slow....

Q: how much money you blow? (if you want to respond)
  • #183,351
  • Nov 17, 2009 6:35am Nov 17, 2009 6:35am
Quoting nAVIN2007
really..
u know i have thinking about it and i come up with your greed is one of the reasons why trading can be difficult.

in april next year i plan to place an extra 14k into trading account then i can trade minilot...right now im concerned with technicals and a defined method..then i can try my luck

stop being so damn greedy u might actually make money
making scaps is better than making no profit

Nah not really, I embrace greed and factor it into my system, without greed I'd have no reason to trade after all.

Making scraps is a waste of time and energy to me, get rich or die trying is more my style.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,352
  • Nov 17, 2009 6:39am Nov 17, 2009 6:39am
Quoting Turveyd
Nah not really, I embrace greed and factor it into my system, without greed I'd have no reason to trade after all.

Making scraps is a waste of time and energy to me, get rich or die trying is more my style.
that is sad..it shows yur not prepared to graft for it..it simply shows u dont know what it takes to be successfull...success cannot come to someone who isnt prepared to work for it.

i hope u change your mind

be lucky my friend
  • #183,353
  • Edited 6:54am Nov 17, 2009 6:46am | Edited 6:54am
Quoting Yngwie
1.6877 is a level to watch.. pass this level we might see 1.6955. However below this price is bearish.. might go down until 1.6750
Quoting Yngwie
1.675 then 1.6670
Quoting Yngwie
Sold 1 lot at 1.6853 and more sell order at 1.6865
Closed at 1.6755 --> 98 + 110 = 208pips..


ermm maybe we might see 1.6670 if 6750 breaks.
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #183,354
  • Nov 17, 2009 6:47am Nov 17, 2009 6:47am
i started trading back in early 2004, i blew about 10 account from 2004 to 2006, then my trading skills got better, i went from 1k account to well over 300k by 2009, so it can happen.
  • #183,355
  • Nov 17, 2009 6:47am Nov 17, 2009 6:47am
Quoting nAVIN2007
that is sad..it shows yur not prepared to graft for it..it simply shows u dont know what it takes to be successfull...success cannot come to someone who isnt prepared to work for it.

i hope u change your mind

be lucky my friend


slow n steady..patient is virtue as we r not gambler..this is what i learn after blown my account severl time before...

like old people say..little then...later become mountain
  • #183,356
  • Nov 17, 2009 6:51am Nov 17, 2009 6:51am
Quoting nAVIN2007
that is sad..it shows yur not prepared to graft for it..it simply shows u dont know what it takes to be successfull...success cannot come to someone who isnt prepared to work for it.

i hope u change your mind

be lucky my friend

Except I've been trading for 10 years on and off, I lived off trading stocks for awhile ages and ages back, I've revamped my system numerous times so I can safely say I've put the graft in, big time infact.

What's your win / loss ratio ?? and Average Profit / Loss then Nav ??
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #183,357
  • Nov 17, 2009 6:51am Nov 17, 2009 6:51am
Quoting grashid


slow n steady..patient is virtue as we r not gambler..this is what i learn after blown my account severl time before...

like old people say..little then...later become mountain

yes brother..we didnt start forex to gamble otherwise would have gones to the horse races and at least enjoy..

small steps climb mountains
  • #183,358
  • Nov 17, 2009 6:52am Nov 17, 2009 6:52am
Quoting aswilled
Look like a push to the 61% ret. setting up
That 50% appears to be a key level
A. Finesse Williams Making Millions One Pip At A Time!
  • #183,359
  • Nov 17, 2009 6:53am Nov 17, 2009 6:53am
Quoting Turveyd
Except I've been trading for 10 years on and off, I lived off trading stocks for awhile ages and ages back, I've revamped my system numerous times so I can safely say I've put the graft in, big time infact.

What's your win / loss ratio ?? and Average Profit / Loss then Nav ??
bit early to be honest i only been in 2 trades, the cable one failed and im stiill in this euro ...i targeting possibly the low of previous month, then 1.4 area

looking for 1k pips
  • #183,360
  • Nov 17, 2009 6:57am Nov 17, 2009 6:57am
Quoting nAVIN2007
yes brother..we didnt start forex to gamble otherwise would have gones to the horse races and at least enjoy..

small steps climb mountains

My Method, although always a element of gambling has much less gambling than your method, you've barely got a edge on your method where as mines got a huge edge!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
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