Cable Update (GBPUSD) | Page 10251 | 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)

  • #205,001
  • Mar 10, 2010 11:39pm Mar 10, 2010 11:39pm
Quoting javapips
i don't know what side that about? i'm stupid in flipping....

BTW is that true? 145 trade and all win?

so this day i hope not be the 'first'..., take care with your short..

if you call a 240 pip dd to make 12 pips a win .... sure
Blogging daily now at www.volume.zone
  • #205,002
  • Mar 10, 2010 11:52pm Mar 10, 2010 11:52pm
Quoting javapips
i don't know what side that about? i'm stupid in flipping....

BTW is that true? 145 trade and all win?

so this day i hope not be the 'first'..., take care with your short..
i quit the short on the last dip

but here is the deal

4990 is the current 4 hour resistance which needs to break for any valid long setup

5050 is the daily resistance and the current kiss of death level too

as per daily charts there is nothing to call a valid long setup

so for this matter subject to 4990 holding i will be interested in shorting only


ps. if malcolm or his gang messes with me, kindly protect me, from here onwards i am under your protection.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 19 KB
  • #205,003
  • Mar 11, 2010 12:43am Mar 11, 2010 12:43am
Quoting forexlion
i quit the short on the last dip

but here is the deal

4990 is the current 4 hour resistance which needs to break for any valid long setup

5050 is the daily resistance and the current kiss of death level too

as per daily charts there is nothing to call a valid long setup

so for this matter subject to 4990 holding i will be interested in shorting only


ps. if malcolm or his gang messes with me, kindly protect me, from here onwards i am under your protection.
cable is simply not able to sustain itself @ 4990
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 19 KB
  • #205,004
  • Mar 11, 2010 12:46am Mar 11, 2010 12:46am
Quoting fourxtrader
Then we can spend our leisure time reading Malcolmb's posts.

Dr. D.
Everything with a grain of salt.

Forexlion has a profitable and valid method of trading, though not my style, does go along with the theory that a hold from any position will become profitable at some point...

That being said, playing the direction of the major trend will help this along to be sure. I do remember times as a new trader when I have cost myself massive losses up and down chasing a trade, getting all pissed off after taking a loss and seeing price come to a place that would make me profitable.

Taking some time to learn charting and come up with something that wouldn't require large draws against you is something I advocate for, but is any system perfect???

I know for myself, that when a trade goes against me and my indicators, I am out. This triggers a take profit point or a stop loss depending on when I entered the play.

Understanding that even if I muck up a trade, simply waiting it out would generate a profit at some point, does offer a little bit more encouraging than the thought of having to lose hundreds against my account with no salvation.

A while back in my days of stock trading, I used to follow other peoples plays. Always caught misery and bloodshed, some that will never be able to be sold. When the money ran out and I had to wait to liquidate my positions before taking extra trades, I realized that I would probably stand a better chance at succeeding if I was able to understand a good play from a bad, technicals vs fundamentals and when I should take a trade was better than following others into bad plays. This is exactly what I did.

With stocks, they can fall off the pages, never to be traded again. With forex, you can wait a few hundred and again, if you are patient and playing with the major trend, the play will return to you, really a benefit.

So...long story short...

Work on being able to play your own trades, your style may differ than what others offer.
Know that another traders threshold for loss might be greater than your account can tolerate.
Your idea of profit may differ from other traders, set your own goals, make them realistic, and use safety range plays to assist.
Gain a working strategy with proper and effective money management.
Learn your charting.

And if you shit the sheets on your trade, make sure your playing with the trend.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #205,005
  • Mar 11, 2010 12:50am Mar 11, 2010 12:50am
Nothing wrong with draw downs. A 1,000 pip draw down , is same as 100 pip drawn down, depending on size of trade. Not any idiot can make profit by holding a trade with a draw down, or every idiot would make profit.
  • #205,006
  • Mar 11, 2010 12:54am Mar 11, 2010 12:54am
Quoting Magix
Everything with a grain of salt.

Forexlion has a profitable and valid method of trading, though not my style, does go along with the theory that a hold from any point will become profitable at some point...

That being said, playing the direction of the major trend will help this along to be sure. I do remember times as a new trader when I have cost myself massive losses up and down chasing a trade, getting all pissed off after taking a loss and seeing price come to a place that would make me profitable.

Taking some time to learn charting and...
Every timeframe tells a different picture
There are many different styles of trading. Choose one that you are comfortable with
Develop a system that works for you and stick to it
  • #205,007
  • Mar 11, 2010 1:01am Mar 11, 2010 1:01am
Quoting bbakker
Every timeframe tells a different picture
There are many different styles of trading. Choose one that you are comfortable with
Develop a system that works for you and stick to it
1 hour is the most profitable for me, i never go against 1 hour trends

even if the main trend is down, if 1 hour turns i exit and wait for a good entry again

then starts my routine of milking
  • #205,008
  • Mar 11, 2010 1:03am Mar 11, 2010 1:03am
Quoting Clouds
Nothing wrong with draw downs. A 1,000 pip draw down , is same as 100 pip drawn down, depending on size of trade. Not any idiot can make profit by holding a trade with a draw down, or every idiot would make profit.
absolutely agree but the idiot needs to be able to stick to the trade decision, and this is where people suffer..all because they never discounted the fact that the trade can go wrong..
  • #205,009
  • Mar 11, 2010 1:03am Mar 11, 2010 1:03am
Quoting forexlion
cable is simply not able to sustain itself @ 4990
wow the verdict was " do it "

http://www.random.org/coins/?num=1&c...decision-maker

so i am short again
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 20 KB
  • #205,010
  • Mar 11, 2010 1:12am Mar 11, 2010 1:12am
Quoting forexlion
wow the verdict was " do it "

http://www.random.org/coins/?num=1&c...decision-maker

so i am short again
  • #205,011
  • Mar 11, 2010 1:14am Mar 11, 2010 1:14am
Signing in for the London session..

Hoping for a good day.
{Promotion Removed}
  • #205,012
  • Mar 11, 2010 1:14am Mar 11, 2010 1:14am
Seems to me GBP finding support around 1.4950-60 .....i am in a buy...with (0.1) lot only....might average around 1.4900 if need be with stops 20 pips below yesterdays low that is 1.4871
Raza
  • #205,013
  • Mar 11, 2010 1:15am Mar 11, 2010 1:15am
Quoting malcolmb14
what is wrong with you ?

you are not trading a real account. I doubt it . Why come on here and brag ... your max draw down was -5672 pips to make 2700 pip . Nice work NOT... any idiot can take a trade and hold it till it comes back to profit

sorry but I call bullshit when i see it.
Nail... head! So misleading to newbies, who fall for it, hook, line and sinker. Anyone who follows this draw down strategy will get their fingers burned as it comes back to bite them in the arse.

Remember newbies... Wheat and chaff! Do your homework!
  • #205,014
  • Mar 11, 2010 1:22am Mar 11, 2010 1:22am
Quoting forexlion
wow the verdict was " do it "

http://www.random.org/coins/?num=1&c...decision-maker

so i am short again
Think you might need to add the 1440 ema to your 1m charts mango..red dotted line.

It has been the bounce line all day.
Attached Image (click to enlarge)
Click to Enlarge Name: 1440.jpg Size: 105 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #205,015
  • Mar 11, 2010 1:25am Mar 11, 2010 1:25am
Quoting forexlion
wow the verdict was " do it "

http://www.random.org/coins/?num=1&c...decision-maker

so i am short again
preet .. we opened above dp
Thank You
  • #205,016
  • Mar 11, 2010 1:32am Mar 11, 2010 1:32am
Yesterday I posted a bullish view on GBPUSD, as I mentioned there, for clear confirmation of a bullish pattern we should wait for completing of wave 5 (on 5 min chart).

During the Asian trading session the cable was trading in the range of previously formed wave 3. Since the max level of wave 3 was established, price action on GU made 3-wave downside move, then 5-wave uptrend formation and finally retraced to the latter significantly.

In this situation we can awain GU climbing higher till at least 1.499. To prove the bullish scenario, it should break 1.4995 level, in that case it can for sure form 5 parts of wave 5 (possible parts 1 and 2 are already depicted on a chart).

Buy orders can be put with SL right below 1.492 level. If 1.4995-1.5 level is broken, SL can be pur lower, to 1.487 in order to avoid fake closure.

The chart is attached in the signature link.
  • #205,017
  • Mar 11, 2010 1:33am Mar 11, 2010 1:33am
Quoting wormboy
preet .. we opened above dp
i dun know if you noticed or not, but we seem to be in a massive selling pressure

i have access to reuters ifhr which gives me info on what big doggs are doing their trade deals, i am not a simple mt4 trader now, i upgraded in Jan

i see sell orders suddenly vanishing to reappear and get traded at convenient prices.
  • #205,018
  • Mar 11, 2010 1:39am Mar 11, 2010 1:39am
i guess i am the only one milking the shorts
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 20 KB
  • #205,019
  • Mar 11, 2010 1:43am Mar 11, 2010 1:43am
Quoting Magix
Think you might need to add the 1440 ema to your 1m charts mango..red dotted line.

It has been the bounce line all day.
I like the different coloured lines for the resistance and support lines for different timeframes. The MA planets are aligning themselves for no clear short-term direction. This is a notorious difficult time to trade, so plan carefully. You know my long-term view.
  • #205,020
  • Mar 11, 2010 1:46am Mar 11, 2010 1:46am
Quoting forexlion
i guess i am the only one milking the shorts
Don't you mean the cows.
889 traders viewing now, 4 are registered:
johncen
,
Simoleon
,
ndtrunghieu
,
lzuda20