out of all waiting thank god
I only trade XAU/USD. Based on USD news & Fib SR & BB20
Cable Update (GBPUSD)
- #213,861
- Apr 7, 2010 6:31am Apr 7, 2010 6:31am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
- #213,862
- Apr 7, 2010 6:33am Apr 7, 2010 6:33am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
enough of fiber
cable not yet
EDIT: Well, they are already half way down!
- #213,864
- Apr 7, 2010 6:34am Apr 7, 2010 6:34am
- Joined Feb 2010 | Status: Inactive | 6,482 Posts
If I were you I'd take my profit and run, you've already lost 20 pips on this trade with the retrace. No one is sure whether we will break 30 today.
Ask cloggs what he thinks as he is still holding but I learnt yesterday from my mentor that I should book profits!
- #213,866
- Apr 7, 2010 6:35am Apr 7, 2010 6:35am
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
I've done that before and set the level slightly wrong, like my long at 15310, my long a couple of weeks ago at 15046 and a few others
Ironically, if I'd just been patient with everything, I'd have been a LOT better off than I was. Dont want to say how much I'm down over the past 2 weeks as it's quite embarassing, suffice to say it's made a big dint!
do that and you wont be sorry, promise you!!! I was up 25% but lost it all back down to just 5% because I traded too big for my account. This is week 5 for me and am 15% so I should be VERY happy.
@pawpaw1000 on Twitter
- #213,867
- Apr 7, 2010 6:37am Apr 7, 2010 6:37am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
Fibre is beginning to drop her pants now, testing daily S1!
EDIT: Well, they are already half way down!
- #213,869
- Apr 7, 2010 6:40am Apr 7, 2010 6:40am
- Joined Nov 2009 | Status: voodoo boodoo hit man | 17,076 Posts
Got jump from 1.5187 bro !
- #213,870
- Apr 7, 2010 6:41am Apr 7, 2010 6:41am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
If I were you I'd take my profit and run, you've already lost 20 pips on this trade with the retrace. No one is sure whether we will break 30 today.
Ask cloggs what he thinks as he is still holding but I learnt yesterday from my mentor that I should book profits!
Flip over to the H4, see how bearish the bar is. That indicates seller strength & the bar closes in less than 30 minutes. When cloggie advised you to close yesterday, the H4 closed a hammer, a bullish reversal, which indicated buyers stepping in. As of now, with the current H4 bar, there is no indication of buyers stepping in yet, unless of course it can jump back up by 130 pips in 23 minutes. His 512x target is only 20 pips away, very likely it will hit. If in any case it doesn't he ought to manage his position to his comfort level, ie locking in satisfied profit
Good luck
Thank You 
- #213,871
- Apr 7, 2010 6:41am Apr 7, 2010 6:41am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
I only trade XAU/USD. Based on USD news & Fib SR & BB20
- #213,872
- Apr 7, 2010 6:43am Apr 7, 2010 6:43am
- Joined Apr 2009 | Status: Technical Artist | 1,609 Posts
good post 
Correct, no one can be sure. That's where the charts is able to guide you.
Flip over to the H4, see how bearish the bar is. That indicates seller strength & the bar closes in less than 30 minutes. When cloggie advised you to close yesterday, the H4 closed a hammer, a bearish reversal, which indicated buyers stepping in. As of now, with the current H4 bar, there is no indication of buyers stepping in yet, unless of course it can jump back up by 130 pips in 23 minutes. His 512x target is only 20 pips away, very likely it will hit. If in any case it...
Its all in the mind.
- #213,875
- Apr 7, 2010 6:49am Apr 7, 2010 6:49am
- | Joined Apr 2010 | Status: In the red, aiming for the green! | 285 Posts
Brother, its normal for noobs to lose... Trade with smaller lots so you dont lose soo much at a time! My account was $400 and I trade 3K lots at a time which means that when I make 70 pips, like now, I only make $21 but that is 5% of m account! if it hits my s/l at 30 pips back I only lose 2%...
do that and you wont be sorry, promise you!!! I was up 25% but lost it all back down to just 5% because I traded too big for my account. This is week 5 for me and am 15% so I should be VERY happy.
1. Didnt put SL's on so that I'd just ride the wave until things came back to me if I knew it would
2. Got cocky with the size of the trades because I'd made some reasonable money
3. Doubled up trades when things were going up being greedy
My lessons learned so far:
1. SL or lose it is right (nice sig
2. Just because you've made some money, dont gamble it away
3. Dont get too greedy
Also very important, and pointed out here a few times by others, patience is key sometimes.
2 weeks ago I had no SL, doubled up my trade as it was going up and put on a large sum point for point. I woke up the next morning to find a majority of my account wiped out, but it started bouncing back up. All the pointers were that it was going to drop again, so I cut my losses. If I'd waited 24 hours I would have been back at square 1, if I'd left it 72 hours I'd have pretty much doubled my account.
HARD lesson, but one I needed to learn and luckily didnt fall TOO badly, i.e. I've still got some money left!
Back to basics, it has to be for me!
- #213,877
- Apr 7, 2010 6:49am Apr 7, 2010 6:49am
- Joined Jan 2009 | Status: Not bothered. | 18,084 Posts
thx wormy, am out finally, will re-enter if i find a comfortable spot, am still learning
good post
Thank You
- #213,878
- Apr 7, 2010 6:50am Apr 7, 2010 6:50am
- Joined Jan 2010 | Status: No Hope for FF | 3,772 Posts
@pawpaw1000 on Twitter
- #213,879
- Apr 7, 2010 6:51am Apr 7, 2010 6:51am
- | Joined Dec 2007 | Status: Trader | 3,220 Posts
I only trade XAU/USD. Based on USD news & Fib SR & BB20