Cable Update (GBPUSD) | Page 9328 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #186,541
  • Dec 8, 2009 12:24pm Dec 8, 2009 12:24pm
Quoting thetruthspy

hopefully daily 200 ema will hold the train..
It's not looking good for the dog...
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #186,542
  • Dec 8, 2009 12:25pm Dec 8, 2009 12:25pm
finger on the trigger we are approching the test line will it bounce of the low or not
  • #186,543
  • Dec 8, 2009 12:28pm Dec 8, 2009 12:28pm
look at euro - if there is ANY correlation left it will drag cable down

there hasn't been any for along time though...
  • #186,544
  • Dec 8, 2009 12:29pm Dec 8, 2009 12:29pm
Quoting Magix
It's not looking good for the dog...
lol...
do you still holding your long??
or already change to short?
  • #186,545
  • Dec 8, 2009 12:31pm Dec 8, 2009 12:31pm
Quoting thetruthspy
lol...
do you still holding your long??
or already change to short?
I keep my long is it bad?
  • #186,546
  • Dec 8, 2009 12:31pm Dec 8, 2009 12:31pm
shoulda, woulda, hada, coulda

Made a trade (entry 1.6445 at a good compression point) and set a narrow stop in a specific 'psychological' account balance level rather than outside a 'psychological' trading zone. Walked away for the evening and returned to find that I was stopped out by 1 or 2 pips of the last hourly high (1.6461 plus spread) in an area that should have been no-man's land near recent hourly highs. The trade subsequently moved down nearly ~200 pips in (what would have been) my favor and still counting.

I read recently another poster's caution regarding this 'other' psychological account balance level that may skew our trading judgement. Something I had never considered before... we all know about placing stops outside of target zones that include whole round and 1/4 numbers plus S/R levels and recent highs. I have now discovered first hand the 'effect' of account balance zones and their 'affect' on our psyche, which may cloud our thinking and over power our judgement when setting stops and targets.

I was closing this particular account with a certain broker and decided to make one last trade... I wanted my final account balance to not draw below a certain dollar figure... an absolute rock bottom point, while still respecting a 3% trade risk level. If I had have paid more attention to proper stop/loss principles and not let this 'psychological' account balance override my trade judgement I could have easily been up an additional 3% and even 6% with proper management.

What a 'bonehead' move!

Well, I did pick the compression zone and near point of separation, but just didn't give it enough room to wiggle loose to profit in the large breakout.

Dr. D.
Attached Image
  • #186,547
  • Dec 8, 2009 12:32pm Dec 8, 2009 12:32pm
close my short with 10 pip I will wait for a break on ether side.
  • #186,548
  • Dec 8, 2009 12:34pm Dec 8, 2009 12:34pm
Quoting thetruthspy
lol...
do you still holding your long??
or already change to short?
Still holding.

Will add if we close below the LOD, and wait for the ride back up. We are still in the same channel, so, holding ground, and believe we will still see a retrace.

Not much of a play day...**Yawn**
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #186,549
  • Dec 8, 2009 12:34pm Dec 8, 2009 12:34pm
Quoting Slotery
I keep my long is it bad?
I have cashed my cable short out as this could be a bottom on the 15m

Still making hay on the euro - haystacks actually
  • #186,550
  • Dec 8, 2009 12:37pm Dec 8, 2009 12:37pm
Quoting allserene
look at euro - if there is ANY correlation left it will drag cable down

there hasn't been any for along time though...
e/u could be stopped at 1.4700 resistance
  • #186,551
  • Dec 8, 2009 12:37pm Dec 8, 2009 12:37pm
New Obama Plans: 'Spend Our Way Out' of Downturn- AP
  • #186,552
  • Dec 8, 2009 12:40pm Dec 8, 2009 12:40pm
Quoting KwAAkS
e/u could be stopped at 1.4700 resistance
agreed - thats a lot of pips for one day - i ALWAYS sell my shares when they make 7 to 10% in a week and i do the same with currencies - greed is the enemy
  • #186,553
  • Dec 8, 2009 12:40pm Dec 8, 2009 12:40pm
That's it for today I'm happy that I catch the 100pip ride on the down side from the London session .I wouldn't be suprise that price will range at that level for the rest of the session ..
  • #186,554
  • Dec 8, 2009 12:40pm Dec 8, 2009 12:40pm
Quoting Bio
New Obama Plans: 'Spend Our Way Out' of Downturn- AP
IF the dog thing hasn't brought up cable, neither will the Obama thing.

lol
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #186,555
  • Dec 8, 2009 12:40pm Dec 8, 2009 12:40pm
Quoting Magix
Still holding.

Will add if we close below the LOD, and wait for the ride back up. We are still in the same channel, so, holding ground, and believe we will still see a retrace.

Not much of a play day...**Yawn**
me too...
already 7 cs (1hr) tried to break 1.6244.....
that's mean already 7hrs i keep watching
hopefully this was the last one try to break 1.6244...
  • #186,556
  • Dec 8, 2009 12:41pm Dec 8, 2009 12:41pm
im still holding my short with locked in profits of 175 pips and a limit order long trade at 1.6320... market doesnt seem to be doing a lot and momentum is on the decline...

any comments on what might happen in the asian session???
  • #186,557
  • Dec 8, 2009 12:42pm Dec 8, 2009 12:42pm
:nerd:1.6271 !
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #186,558
  • Dec 8, 2009 12:59pm Dec 8, 2009 12:59pm
Hi All,

Any smart reason it should go below 1.6200?
  • #186,559
  • Edited 1:19pm Dec 8, 2009 1:06pm | Edited 1:19pm
Quoting fx1o1
Hi All,

Any smart reason it should go below 1.6200?
Maybe tomorrow, today seems like stuck around 1.6271 (MP Nov 09) ! I don't recomend long, but if tempted to make an entry, I choose long, 1st target 1.6313/20, SL 1.6240/60 !
Attached Image (click to enlarge)
Click to Enlarge Name: 081209.gif Size: 62 KB
I only trade XAU/USD. Based on USD news & Fib SR & BB20
  • #186,560
  • Dec 8, 2009 1:12pm Dec 8, 2009 1:12pm
Quoting Magix
IF the dog thing hasn't brought up cable, neither will the Obama thing.
lol
Let the puppy have it Magix Cable don't wanna move!
251 traders viewing now, 3 are registered:
Olu
,
,
Meer-Shayhak