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Cable Update (GBPUSD)

  • #212,341
  • Apr 1, 2010 9:55am Apr 1, 2010 9:55am
Quoting pawpaw1000
I agree but I want to be making 5% per month consistently at least for the risk associated with trading. And if one is conservative (2% risk) making 10% pm shouldnt be too hard...

Guess consistency is the name of the game but I have been trading simulated 3months with gains much larger than 10% and now my 1st month live should end above 10% as well...

Largest draw down was when I just started my live account and the emotions rocked me a bit causing me to make stupid mistakes and that drawdown was 6%...
So if you got 1000$ you want to make 50$ everymonth ? trading like 12-15h hours a day for 50$ ? better work to macdonalds..
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account
COT: The precious data ignored
  • #212,342
  • Apr 1, 2010 9:56am Apr 1, 2010 9:56am
5300 is looking more and more achievable.
  • #212,343
  • Apr 1, 2010 9:56am Apr 1, 2010 9:56am
Quoting pawpaw1000
I agree but I want to be making 5% per month consistently at least for the risk associated with trading. And if one is conservative (2% risk) making 10% pm shouldnt be too hard...

Guess consistency is the name of the game but I have been trading simulated 3months with gains much larger than 10% and now my 1st month live should end above 10% as well...

Largest draw down was when I just started my live account and the emotions rocked me a bit causing me to make stupid mistakes and that drawdown was 6%...
Simulation is not the real thing because you don't have the emotional factor as it isn't real money. IMO, good for testing new trading plans, but that is about all. I went straight to live trading, albeit micro trading to understand the emotional side of trading too.

Chocks away!
  • #212,344
  • Apr 1, 2010 9:58am Apr 1, 2010 9:58am
Quoting kuroro001
So if you got 1000$ you want to make 50$ everymonth ? trading like 12-15h hours a day for 50$ ? better work to macdonalds..
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account
He is micro trading first to ensure that he has got his strategies right before he increases the stakes in 12 months time and starting from afresh, but with a bigger starting pot!
  • #212,345
  • Apr 1, 2010 9:59am Apr 1, 2010 9:59am
Quoting wormboy
why thank you!

new high bro .... mmmmmmmmmm
Yep, you can count on that dollar falling bro.
Ghost Rider - WWTBMD?
  • #212,346
  • Apr 1, 2010 10:01am Apr 1, 2010 10:01am
Quoting albchr
Yep, you can count on that dollar falling bro.
  • #212,347
  • Apr 1, 2010 10:01am Apr 1, 2010 10:01am
Quoting kuroro001
So if you got 1000$ you want to make 50$ everymonth ? trading like 12-15h hours a day for 50$ ? better work to macdonalds..
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account
well the idea is to make 5% a month on a $100 000 account...

but to show you what compound interest does. starting with $4000 and trading 5 years at 5% pm gives you:

$ 74716.74 and 5% of that is $3700 which aint a bad salary.
@pawpaw1000 on Twitter
  • #212,348
  • Apr 1, 2010 10:04am Apr 1, 2010 10:04am
Quoting albchr
Yep, you can count on that dollar falling bro.
When she hit's this daily TL and the 365 MA, she'll bounce "breifly".

Of course I'm not saying she'll drop straight down. But down she'll go.
Attached Image (click to enlarge)
Click to Enlarge Name: usdx_daily.gif Size: 23 KB
Ghost Rider - WWTBMD?
  • #212,349
  • Apr 1, 2010 10:04am Apr 1, 2010 10:04am
Quoting cloggie
Long 5235, target 534

Closed at 5285, gotten my 200 pips out of fibre and cable today. Don't want to be greedy, hit my target.
  • #212,350
  • Apr 1, 2010 10:04am Apr 1, 2010 10:04am
Quoting nAVIN2007
triple bar low higher close..if this doesnt go up now..
Quoting nAVIN2007
i exited positions..now flat...i dont like what im seeing..taking the pips and running..
Oh well... sheeeeet happens. The main thing is that you come out with green pips, but must be a little frustrating to see it go without you.

This is where my 3 little runners theory comes in! You must be aware of this theory?
  • #212,351
  • Apr 1, 2010 10:04am Apr 1, 2010 10:04am
Quoting kuroro001
So if you got 1000$ you want to make 50$ everymonth ? trading like 12-15h hours a day for 50$ ? better work to macdonalds..
I know it's 5% but it looks nothing....you'll be so old when you'll trade twice your account
lol
depends where you live hombre. 50usd per day consistently over 22 trading days is more than enough where I am from. I'll be making twice the monthly average income.
Thank You
  • #212,352
  • Apr 1, 2010 10:04am Apr 1, 2010 10:04am
Quoting pawpaw1000
well the idea is to make 5% a month on a $100 000 account...

but to show you what compound interest does. starting with $4000 and trading 5 years at 5% pm gives you:

$ 74716.74 and 5% of that is $3700 which aint a bad salary.
yeh i agree on that ....good luck on your trip to 100 000 mate
It's my trip as well
COT: The precious data ignored
  • #212,353
  • Apr 1, 2010 10:05am Apr 1, 2010 10:05am
Quoting cloggie
Closed at 5285, gotten my 200 pips out of fibre and cable today. Don't want to be greedy, hit my target.
That is some lovely work today. It is Easter, so a chocolate medal is winging its way to you
  • #212,354
  • Apr 1, 2010 10:06am Apr 1, 2010 10:06am
Quoting wormboy
lol
depends where you live hombre. 50usd per day consistently over 22 trading days is more than enough where I am from. I'll be making twice the monthly average income.
Are you from Jamaica Wormboy?
  • #212,355
  • Apr 1, 2010 10:08am Apr 1, 2010 10:08am
Quoting stunna29
Are you from Jamaica Wormboy?
Botswana
  • #212,356
  • Apr 1, 2010 10:09am Apr 1, 2010 10:09am
common 5300
  • #212,357
  • Apr 1, 2010 10:10am Apr 1, 2010 10:10am
Quoting kuroro001
yeh i agree on that ....good luck on your trip to 100 000 mate
It's my trip as well
I'm in a lucky position at the moment as my rugby gives me alot of time to trade while at the same time paying me enough so I can save money for my forex...

Not alot of 23 year olds in my position and I intend to capitalise on it. Rugby is only until 34 MAX! so my income curve is different to normal as I increase quickly in earnings but after a certain age it finishes!!!

but if you use your money wisely it works great for investments and Creating residual income... And not having to work anymore
@pawpaw1000 on Twitter
  • #212,358
  • Apr 1, 2010 10:12am Apr 1, 2010 10:12am
Quoting bbakker
Oh well... sheeeeet happens. The main thing is that you come out with green pips, but must be a little frustrating to see it go without you.

This is where my 3 little runners theory comes in! You must be aware of this theory?

my goal behind the year was to come out profitable..i have developed my mindset not to be bothered..i only trade when price does what i want..

back 7 months ago ..i would be pissed off that i exited..but that is emotion which is very bad for one to have in trading..i will wait for next setup, even if it takes whatever time it takes not bothered.

one thing i also wanted to prove to myself is that im not addicted to the market..im happy just that i got it right that is enough for me!!!..
  • #212,359
  • Apr 1, 2010 10:13am Apr 1, 2010 10:13am
Quoting stunna29
Are you from Jamaica Wormboy?
Jamaica? I wish ....
Thank You
  • #212,360
  • Apr 1, 2010 10:15am Apr 1, 2010 10:15am
Goodday boys and girls, I am done for today, London close coming up and am looking forward to a volatile day tomorrow. NFP coming up, if all the census workers are counted we could see 300. as both Fibre and cable are at important levels, any number in the 300 region will see a drop in both; fibre to 1.34 and cable to 1.51, any number below 175 will see a further move; fibre to 1.36 and cable to 1.535
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