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Eur/Gbp 30

  • #1
  • First Post: Dec 13, 2009 6:28pm Dec 13, 2009 6:28pm
Im starting out again trying to work out where the heck ,im going wrong with my trading .Hopefully i will look back at realise where i have gone wrong over the years and correct my mistakes!
I am going to try and make 30 pips a day trading the EUR/GBP.
The reason for this is it can make or break me in 30 pips ,plus it doesnt move more than 100 pips a day ,in eithier direction.
I will give myself a 50 pip stoploss,and hopefully bring it down in time where i can get within say a 25 pip stop,all being well.
Wish me luck and may the force be with you always(just had to put that in)
Also i am going to call in real time my trades(please do not follow with real money as im as green as grass)
This is where i can see for myself and work out where i am going wrong,and why i took the trade and exited, ect in the first place .
Here We Go...!
  • #2
  • Dec 13, 2009 6:36pm Dec 13, 2009 6:36pm
Ok im going long and leaving it overnight ,hopefully my stop wont be taken out !.The reason for this trade is all my stocs are down from 1m 5m 15m .
Price @9004 s/l 50=8954.
Goodnight
  • #3
  • Dec 13, 2009 7:18pm Dec 13, 2009 7:18pm
Post some charts as you go along and maybe someone can help you. I wish you the best in your trading.
  • #4
  • Dec 14, 2009 1:39am Dec 14, 2009 1:39am
Quoting magnumfreak
Post some charts as you go along and maybe someone can help you. I wish you the best in your trading.
I will try and post a chart,once i work out how too!
  • #5
  • Dec 14, 2009 1:47am Dec 14, 2009 1:47am
Quoting Tvrspeed12
Ok im going long and leaving it overnight ,hopefully my stop wont be taken out !.The reason for this trade is all my stocs are down from 1m 5m 15m .
Price @9004 s/l 50=8954.
Goodnight
Last night 00:00 G.M.T i left a trade on the table ,only to wake up at 07:00 to find my trade had made my 30 pips
Closed trade @9046:Reason all my stocs on M1 M5 M15 where way high.Decided to T/P .Just witnessed it drop by 10 pips ,so i was right on time .News from eur in next 2 hours!
  • #6
  • Dec 14, 2009 1:55am Dec 14, 2009 1:55am
My first chart!
Attached Image (click to enlarge)
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  • #7
  • Dec 14, 2009 4:49pm Dec 14, 2009 4:49pm
Today,im looking at support/resistance (the red line) on my H4 chart as shown @8972.It will be interesting to find out which way it goes.Can anyone tell me if im starting to look in the right place! I have never been on such a higher timeframe before ,always traded with M1 M5 M15 charts.
Attached Image (click to enlarge)
Click to Enlarge Name: eur11.gif Size: 66 KB
  • #8
  • Dec 14, 2009 6:28pm Dec 14, 2009 6:28pm
Ive decided to take a midnight trade again.The basis for this trade ,i think is because of the support @9072.Which i am hoping will hold out .
Price now 9085 T/P 9115 S/L 9035
  • #9
  • Dec 15, 2009 4:50am Dec 15, 2009 4:50am
Trade from last night expired to within the pip @8935,funny that.When past the resistance level @8972.
This is where being a newbie i would be chasing every single trade ,to make up for the 50 pip loss.For the first time im not going to.I will sit back and wait for the market to come to me .When i lose a trade like this ,i end up losing even more ,so i need to go and study where/when and why the trade whent against me .
Its called discipline
  • #10
  • Dec 15, 2009 4:59am Dec 15, 2009 4:59am
Having looked at my chart ,im going to see if it will make a retracment from 8935 to the 61.8 fib line .Which has just surprised me ,in that its bang on my support line (red) of 8972 from last night !
Dont you just love the way the markets move.
Attached Image (click to enlarge)
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  • #11
  • Edited 7:57pm Dec 15, 2009 7:55pm | Edited 7:57pm
Hello,I also trade this pair and the best time to trade it is 1am - 5am and if you still have the energy up until about 10:30 am est.also a 50 pip sl is huge for this pair 25 max for me but I am only trading a few dollars per pip.What kind of system are you trading with ??? PS:the correlation pair with this is gbp/usd and this is my set up- 5,8,13 sma... macd 5,34,5...rsi 14, 5 min chart also 1 min take trades from either and I also look at the 1 hr/ 4hr for trend direction.all bill williams except the rsi...
  • #12
  • Dec 16, 2009 4:39am Dec 16, 2009 4:39am
Ive listed 2 charts one from yesterday and one for today .The one from yesterday didnt reach my traget of 8972.The one for today ,im looking at a retracment of 50 on the fib,at about 8933.just have to wait and see.
Learning all the while.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eur11111.gif Size: 51 KB
Click to Enlarge Name: eur111111.gif Size: 50 KB
  • #13
  • Dec 16, 2009 4:51am Dec 16, 2009 4:51am
Quoting monikroc
Hello,I also trade this pair and the best time to trade it is 1am - 5am and if you still have the energy up until about 10:30 am est.also a 50 pip sl is huge for this pair 25 max for me but I am only trading a few dollars per pip.What kind of system are you trading with ??? PS:the correlation pair with this is gbp/usd and this is my set up- 5,8,13 sma... macd 5,34,5...rsi 14, 5 min chart also 1 min take trades from either and I also look at the 1 hr/ 4hr for trend direction.all bill williams except the rsi...
Hi! Not sure about the time zone ,but i think your 8 hours behind me which would make 10.30am est between 6am-10am gmt.I sometimes rise at 6.30 depends usually before 8am ,at london open.
I use rsi and stocs in 1m / 5 m and then go naked on 15m using fib lines.The correlation is also with aud/usd ,it seems to follow gbp/usd.
  • #14
  • Dec 16, 2009 6:38am Dec 16, 2009 6:38am
Hello again,I forgot to mention that the gbp/usd correlation is inverse to the eur/gbp 90 x out of 100,thanxs... PS: I live on the east coast -charlotte,nc est time zone...
  • #15
  • Dec 16, 2009 2:50pm Dec 16, 2009 2:50pm
Quoting monikroc
Hello again,I forgot to mention that the gbp/usd correlation is inverse to the eur/gbp 90 x out of 100,thanxs... PS: I live on the east coast -charlotte,nc est time zone...
Hiya,totally agree with you on the correlation!Im from the black country ,near Birmingham ,a small town called Wolverhampton .There is only one time zone and thats gmt.We are a tiny island next to France,you may of heard of it England
  • #16
  • Dec 17, 2009 2:41am Dec 17, 2009 2:41am
Since yesterday,my chart seemed to have no direction at all ,apart from down .Which is a good sign i guess as it can only go two ways .This tells me the markets must have sold days in advance,waiting for the FOMC Statement/Federal Funds Rate.I think they call it the Anti Dollar Theres good and evil everywhere!Still this doesnt make me a better trader so. STAY AWAY FROM THE MARKETS YOU FOOL A DAY BEFORE AND AFTER FOMC STATEMENT.AND BANK OF ENGLAND STATEMENT/RATE.
Attached Image (click to enlarge)
Click to Enlarge Name: eur11111.gif Size: 51 KB
  • #17
  • Dec 18, 2009 7:16pm Dec 18, 2009 7:16pm
I am never going to listen to another call from this forum telling me to so long hard or soft or even short.
Ive had it..
Let think about it,where ive been ,you have ppl short long if only i copuld work or who is where at a given time i would be rich!let see .short 2 hours ago then disappear untill the next day dependind where you are in the world .Lost my bank today,so im givin up but not without a fight you mother f^^%$£%s.Looks like im on my own apart from a few .a couple.so if you dont here from me i a few weeks i have givenup and got a job!
One last try eh
Then forget it
so you dumb ass been staring at it all the time since 2007
conclusion i saved 20 pips today for 50 ,still using 50 stop loss im not safe anymore.
godbless
  • #18
  • Dec 18, 2009 7:22pm Dec 18, 2009 7:22pm
i dont trust any god
Merry xmas every one
Attached Image (click to enlarge)
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  • #19
  • Dec 19, 2009 8:07am Dec 19, 2009 8:07am
Amazing how the 200 xpo ma kissed the high on thursday and friday.
  • #20
  • Dec 22, 2009 3:50am Dec 22, 2009 3:50am
Im looking at selling @8925/30
Reason my stocks are high on M15
Waiting for conformation from GBP/USD,see if it gains any strenght.
Plus we are seeing a upside down head and shoulders.
Attached Image (click to enlarge)
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