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Cable Update (GBPUSD)

  • #214,841
  • Apr 8, 2010 1:31pm Apr 8, 2010 1:31pm
Quoting pawpaw1000
14oo cloggs, and we starting down HOPING!
In about 30 mins the move will start. Same time like yesterday.
not sure if up or down :0

UJ shud move up and EU/GU shud move down starting tomorrow
  • #214,842
  • Apr 8, 2010 1:35pm Apr 8, 2010 1:35pm
Quoting Honored
In about 30 mins the move will start. Same time like yesterday.
not sure if up or down :0

UJ shud move up and EU/GU shud move down starting tomorrow

I'd be Honored if you could arrange that, I'm a bit heavy on my short trades and need about 40 pips of the current value so I can close a couple for a small profit.
  • #214,843
  • Apr 8, 2010 1:36pm Apr 8, 2010 1:36pm
I need help creating a formula to perform the following.

Let position 1 = A
Let position size 1 = AX
Let position 2 = B
Let position size 2 = BX
Let old stop loss = C
Let new stop loss = D

I opened a long position (AX) in GBPUSD at 1.5260 (A) with a stop loss at 1.51460 (C) with a risk of 5%. At the time I write this GBPUSD is pretty much where I opened, but earlier was down 20 pips and also at that time my stop loss had moved up to 1.5164 (D) which decreased my risk from 5% to something less.

What I want to do is open an additional long position (BX) so that I increase my risk back to 5% based off the current price (B) and the new stop loss (D) when combined with my current open position.

Any ideas on a formula?
  • #214,844
  • Apr 8, 2010 1:41pm Apr 8, 2010 1:41pm
Quoting Smurf Trader
Well, both my 4hr and 1hr wedge have been broken to the upside...Now we must hope 5280 holds and sends us back down.

My 5360 and 5275 stops are moved to 5290 to cut my loses if 5280-85 doesnt hold and will reevaluate from there.

Attachment

Attachment

On a good note....The U/J is acting just as planned
It broke but this is the line in the sand #458
  • #214,845
  • Apr 8, 2010 1:41pm Apr 8, 2010 1:41pm
Quoting Exsilium
I need help creating a formula to perform the following.

Let position 1 = A
Let position size 1 = AX
Let position 2 = B
Let position size 2 = BX
Let old stop loss = C
Let new stop loss = D

I opened a long position (AX) in GBPUSD at 1.5260 (A) with a stop loss at 1.51460 (C) with a risk of 5%. At the time I write this GBPUSD is pretty much where I opened, but earlier was down 20 pips and also at that time my stop loss had moved up to 1.5164 (D) which decreased my risk from 5% to something less.

What I want to do is open an additional long position...
do you plan on taking your trade to bep at any given time when your trade is in profit before it hits your target?
Thank You
  • #214,846
  • Apr 8, 2010 1:43pm Apr 8, 2010 1:43pm
Quoting TheLastCoke
It broke but this is the line in the sand #458
Thanks for that perspective Coke
  • #214,847
  • Apr 8, 2010 1:44pm Apr 8, 2010 1:44pm
Quoting wormboy
do you plan on taking your trade to bep at any given time when your trade is in profit before it hits your target?
No. I have a TP of 50 blind, but if Im watching i tag a 10 pip TS when 50 is hit, otherwise out at 50.

Normally I wouldnt average down like this, but the stop loss at the original entry was 2-3 times more than what I would normally use making my position rather small. This was caused by this back and forth cable has been doing for the last few days... screwing with various indicators.

It would be easy to average down if i used the same exact lot size, but the 1-2% gain on the stop loss movement woud not turn out to be the same as the original entry.
  • #214,848
  • Apr 8, 2010 1:47pm Apr 8, 2010 1:47pm
Quoting Exsilium
No. I have a TP of 50 blind, but if Im watching i tag a 10 pip TS when 50 is hit, otherwise out at 50.

Normally I wouldnt average down like this, but the stop loss at the original entry was 2-3 times more than what I would normally use making my position rather small. This was caused by this back and forth cable has been doing for the last few days... screwing with various indicators.
same difference. once you trail or set it to bep your risk reward ratio is out the window.
Thank You
  • #214,849
  • Apr 8, 2010 1:47pm Apr 8, 2010 1:47pm
Quoting Exsilium
I need help creating a formula to perform the following.

Let position 1 = A
Let position size 1 = AX
Let position 2 = B
Let position size 2 = BX
Let old stop loss = C
Let new stop loss = D

I opened a long position (AX) in GBPUSD at 1.5260 (A) with a stop loss at 1.51460 (C) with a risk of 5%. At the time I write this GBPUSD is pretty much where I opened, but earlier was down 20 pips and also at that time my stop loss had moved up to 1.5164 (D) which decreased my risk from 5% to something less.

What I want to do is open an additional long position...
I have a spreadsheet for my trades with a space at the side with something similar to work out my average if I've put a few bids on:

You want something like ((A * AX) + (B * BX)) / (AX + BX), which will work for longs and shorts too and you can expand it for numerous entries at different levels.

eg two bids for 5 something at 1000 and at 1020 ((1000 * 5) + (1020 * 5)) / (5+5) = 1010

Not exactly what you are after, but maybe you can base something on it.
Back to basics, it has to be for me!
  • #214,850
  • Apr 8, 2010 1:49pm Apr 8, 2010 1:49pm
Quoting TheLastCoke
It broke but this is the line in the sand #458
Good one coke. At this time the neckline is at 1.5302 i hope it touches and comes back since we are in consolidation mode.
  • #214,851
  • Apr 8, 2010 1:49pm Apr 8, 2010 1:49pm
Quoting TheLastCoke
It broke but this is the line in the sand #458
And the buyers dont want to give up today by the looks of it. I have a feeling I'm going to lose pips if we dont bounce soon!
Back to basics, it has to be for me!
  • #214,852
  • Apr 8, 2010 1:50pm Apr 8, 2010 1:50pm
crunch time here. bears last chance is the Coke's neck line.
  • #214,853
  • Apr 8, 2010 1:52pm Apr 8, 2010 1:52pm
Quoting jp09
crunch time here. bears last chance is the Coke's neck line.
So where are all the shorters SL's set?
Back to basics, it has to be for me!
  • #214,854
  • Apr 8, 2010 1:53pm Apr 8, 2010 1:53pm
Quoting BadTradingFi
So where are all the shorters SL's set?
82 but mine is tight.
  • #214,855
  • Apr 8, 2010 1:56pm Apr 8, 2010 1:56pm
Quoting jp09
82 but mine is tight.
And close, but maybe getting further away...
Back to basics, it has to be for me!
  • #214,856
  • Apr 8, 2010 1:58pm Apr 8, 2010 1:58pm
Quoting BadTradingFi
So where are all the shorters SL's set?
Still here.
  • #214,857
  • Apr 8, 2010 1:58pm Apr 8, 2010 1:58pm
divergence on 5m and 10m RSI anyone?
  • #214,858
  • Apr 8, 2010 2:05pm Apr 8, 2010 2:05pm
I put a bigger bang under his tree this time.....WAKE UP!

http://www.forexfactory.com/showpost...stcount=214892
  • #214,859
  • Apr 8, 2010 2:12pm Apr 8, 2010 2:12pm
Quoting BadTradingFi
So where are all the shorters SL's set?

SL 5303 ... abit above daily R1

good luck everybody!

PS. WHO IS SHORT??? (still..)
... feel better day by day.
  • #214,860
  • Apr 8, 2010 2:13pm Apr 8, 2010 2:13pm
Quoting BadTradingFi
So where are all the shorters SL's set?
90
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