Cable Update (GBPUSD)

that is a very bad trade. but good luck., trade safe..

egkid & fontu

do u guys hav any position in gold. i am long from 1109. wats ur tak on gold.

lol

I have 8 trades 7 wins and 1 loss on this method,profit about 700 pips on january ,risk just 80 pips on every trade and always close first position on 1:1 RRR and second close manulay...If i lost this trade its ok 80 pips minus 700,i will ahve 620 this year on long term trading...


Cheers and trade safe....

Still currently Short on the Cable from 1.5983. We have seen price continue to drive down. With the close of the previous 4h Candle I have now reduced the initial risk of the trade by 100%. Stop Loss is now set to +1. Will continue to look for more opportunities to lock in profit as price falls.

pls i wont any one help me in usdjpy

i can see will make a corectoin is i am right or where will it go??

Place a buy limit at 1.587 SL 1.583 TP 1.6
The black TL had been a strong R/S in past history hope it still will this time

Still short from 1.5983. With price pushing down a little further and approaching possible levels of support I have now moved my Stop Loss into the green a little more @ +43 pips. Will continue to monitor price and look for further opportunities to lock in more profit.

Hi All,
This is my trades this week till now.

http://www.forexfactory.com/showthre...34#post3427934

My last post : http://www.forexfactory.com/showthre...54#post3421054

It looks like the 4H has played out. Previous chart compared to current attached. Murrey Math Lines seem to be working well with the EMAs at the moment.

I'm flat but will be looking at the [0/8] Murrey Math Line (1.58691) for support.
If I were to trade it, I would at least 2 bars on the 4H and put a Long @ 1.59302. For a short, I'd still wait for it to clear 1.58081

Safe trading

10 RULES OF TRADING MY WEEKLY SIGNAL

1. Try not to trade when the pair is in the middle and not near any support or resistance.
.
2. When the price comes near the support or resistance, be extra watchful. The time for entry has now come.

3. Watch carefully how the prices behave near the S or R. It can do only 2 things at this time:

(a) It will pierce the support or resistance conclusively.
Action: Don’t enter the trade for breakout trading now. Wait for price to touch BACK the S or R line. Once it gets rejected from the line the breakout is confirmed. Now enter with 35/40 pips SL.
(b) It will bounce from the S or R line. Now this is a difficult situation. One can not be sure whether this is a bounce or it will pierce the line in second or third attempt.
Action: At this moment take the help of indicators. If the long term indicator 4H or daily are pointing upwards then most probably the bounce from the support is real. If the indicators are pointing downwards then the support will be broken in subsequent attempt.
Also the candle pattern on 15 min upward chart may help by forming doji, piercing or engulfing pattern, hammer to give additional input that the bounce from support or rejection from Resistance is real.
A divergence will give strong signal that what we are seeing is a real bounce or rejection.

4. Once the trade direction is ascertained look for 5 min or 15 min chart to get the best possible entry.
5. Place your trades, once you have found a trade that meets your risk/reward ratio and limit order (if applicable) and then walk away !!!

Not watching the market is often one of best ways to trade because it eliminates all emotions of fear, hope & greed. At least walk away from the real platform. Open a demo platform and try to chat in the room. Be relaxed. Maximum u r going to loose is your risk amount if stopped out. No trader can take away your life if u loose this trade.

6. Moving Your Stop and Limits:

Don’t be in a hurry to move SL to entry or in profit. U will get stopped out for peanuts or 0 profit. Never move your SL below the entry in buy trade or above the entry in sell trade. This is a certain way of losing less but surely loosing money. Once u are in profit equal to risk pips (SL amount) and 10 pips more, move SL to +10. From there for every 15 pips profit (closed price) move SL by 5 pips.
7. Exiting a trade.
Exiting decision is equally more important. Do the same exercise like that for entry when the prices touch the next support or resistance. If further breakout occurs, continue the trade. If no breakout then follow the step (b) of entry to exit.
8.If in doubt ???
Don’t enter the trade if in doubt
Don’t leave the trade open if in doubt, exit immediately.
Don’t trail the SL by above rules, if in doubt. Trail it closely.
9. Never be in doubt.
Follow a sound money management, and never listen to market noise about option expiry, a big trader from Japan buying this, Dow, Gold or Oil prices etc etc.

10.Study the charts after each trade and keep a log.
Take notes recording whatever you are doing right and wrong with your trading, as well as any observations you have made of the markets That alone will help you in developing you as a better trader by learning from the past mistakes and not repeating. The more you will be able to identify and will not take the wrong trades, more you will get the right trades and be on the path to build a fortune for yourself.

RULES OF POSTING:

1. No need to use Font Size 50

yes sir next time

You are allowed to EDIT your post

i cant change the font size

It's really no big deal to me but if you ever do need to change font sizes...just copy your whole post, then paste it in notepad/word or something and just change the font size. Then copy and paste it back into your post.

EDIT. I could really care less about the font size just some 411
DZ

thanks a lot i did it

Thanks for the methods on SL and such, a lot of times that's how I'll use my trailing stops too

Donnie

"If wishes were horses, beggars would ride."

Wishfully begging to see a daily close (with candle body)
above the LTL (~1.5938).

Dr. D.

Long since 1.5900 with SL at 1.5880, playing for a correction after a short day of 180 pips.