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Cable Update (GBPUSD)

  • #216,861
  • Apr 13, 2010 10:49am Apr 13, 2010 10:49am
Quoting Magix
Shows a lotta brass, but not sure he is one anybody should be following.

A massive spike in any direction can trip this out, and still continue on trend.

There are ways to get ahead in this game, slow and steady is fine for me paw.
Yeah, I think its ridiculous to do that but to each his own...

I am now only 5% up after 5 weeks... Looks like I'm going backwards now... AI!
@pawpaw1000 on Twitter
  • #216,862
  • Apr 13, 2010 10:49am Apr 13, 2010 10:49am
Just a quick question out of curiosity!!

How many of you guys (gals) have multiple trades open at one time? and do any of you take advantage of keeping trades open to benefit from rollover interest?

Apologies if this has been asked before
  • #216,863
  • Apr 13, 2010 10:51am Apr 13, 2010 10:51am
Quoting omiunu
got impatient closed at 1.5354. tripled my account today. no more trades for me until 1.5290. wish everyone luck


If one were to read u for the first time, given what u have said and done here today, would u say one would have got a good impression of u?
  • #216,864
  • Apr 13, 2010 10:53am Apr 13, 2010 10:53am
Quote:
Originally Posted by omiunu http://cdn.forexfactory.com/images/buttons/viewpost.gif
Can some one please tell me i am not crazy :d

check this magix...

sorry thought it would post the pic. He went short 30 dollars a pip with a $2000 account...
__________________

Actually he was exposed for $60 per lot !!!!
  • #216,865
  • Apr 13, 2010 10:54am Apr 13, 2010 10:54am
Quoting OldReigatian
Just a quick question out of curiosity!!

How many of you guys (gals) have multiple trades open at one time? and do any of you take advantage of keeping trades open to benefit from rollover interest?

Apologies if this has been asked before
yep, maybe not all at once but, for example today i traded cable, eur/yen and dax simultaneously
  • #216,866
  • Apr 13, 2010 10:58am Apr 13, 2010 10:58am
will she repeat the same shitt like last night or she will jump out of the box
Attached Image (click to enlarge)
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  • #216,867
  • Apr 13, 2010 11:03am Apr 13, 2010 11:03am
Quoting Magix
Shows a lotta brass, but not sure he is one anybody should be following.

A massive spike in any direction can trip this out, and still continue on trend.

There are ways to get ahead in this game, slow and steady is fine for me paw.
I agree.

It's the prayer/myth of a lot of beginners. Please let me get a big winner before some losers, and not the other way around. Then I'll use proper money management.
The market is always right.
  • #216,868
  • Apr 13, 2010 11:06am Apr 13, 2010 11:06am
Quoting kill56
will she repeat the same shitt like last night or she will jump out of the box
I reckon, same shit!

I'm done... Didnt have alot of time to trade today and had a red day...

Am kinda depressed / angry as I started really well, was up 20% after 3 weeks but have slowly been losing it all the way down to just 5% up...
@pawpaw1000 on Twitter
  • #216,869
  • Apr 13, 2010 11:09am Apr 13, 2010 11:09am
LUCK is the one attribute that nobody ever includes in the list of how to be a successful trader


I was thinking back on my life yesterday and I have done some incredibly risky/stupid things, any one of which would have ruined my life

My dad used to observe that if I fell in the sewage works, I would come out smelling of roses

I think we fashion our own success most of the time, but getting away with what should have been a huge disaster is just pure luck

One of my worst positions in forex was saved when the Madrid bombing happened and the markets went nuts with the price hurtling around. I got out of a horrible position with a handsome profit. That is just pure luck.


Well there's some philosophy while we ponder the straight line on the market
  • #216,870
  • Apr 13, 2010 11:14am Apr 13, 2010 11:14am
Quoting OldReigatian
Just a quick question out of curiosity!!

How many of you guys (gals) have multiple trades open at one time? and do any of you take advantage of keeping trades open to benefit from rollover interest?

Apologies if this has been asked before

yes. AUD-long hold for interest.

held for long time. For my lot size, I get now (at the new ex rate) USD6.5- per day (incl weekends) per contract.

(i wonder if its the same interest everywhere in the world.)

the most expensive for me is to hold AUD-short. they charge a much higher interest which gets taken from my acc balance.


At the moment, the only product paying interest is AUD - long.

two years ago i got a slight interest for Au-short
I have no enemy; I make Incautiousness my Enemy.
  • #216,871
  • Apr 13, 2010 11:15am Apr 13, 2010 11:15am
Quoting pawpaw1000
I reckon, same shit!

I'm done... Didnt have alot of time to trade today and had a red day...

Am kinda depressed / angry as I started really well, was up 20% after 3 weeks but have slowly been losing it all the way down to just 5% up...
Dont be too hard on yourself your in the green.... today was a really crap day pa was all over the place.... i am down 5% today got caught with a long before the big drop but will get it back over the next few days, remember if your not losing money your in the minority,

Best of luck to us....
  • #216,872
  • Apr 13, 2010 11:16am Apr 13, 2010 11:16am
Quoting allserene
LUCK is the one attribute that nobody ever includes in the list of how to be a successful trader


I was thinking back on my life yesterday and I have done some incredibly risky/stupid things, any one of which would have ruined my life

My dad used to observe that if I fell in the sewage works, I would come out smelling of roses

I think we fashion our own success most of the time, but getting away with what should have been a huge disaster is just pure luck

One of my worst positions in forex was saved when the Madrid bombing happened and...
Agree to an extent, but you make your own luck to a certain extent. FX isn't a part time job, not if you want to make a living from it. If you only want to make (say) a couple of hundred quid a month from it, you can afford small trades on average deposit and wait for the bad trades to come back around. That's what I'm in it for. If my kitty grows and I can afford to trade bigger, I will, but until then I'm happy to claw in enough money to cover the annual vacation and some treats
  • #216,873
  • Apr 13, 2010 11:16am Apr 13, 2010 11:16am
Quoting davidiyaji
Here we go
Here we go
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  • #216,874
  • Apr 13, 2010 11:16am Apr 13, 2010 11:16am
Quoting allserene
LUCK is the one attribute that nobody ever includes in the list of how to be a successful trader


I was thinking back on my life yesterday and I have done some incredibly risky/stupid things, any one of which would have ruined my life

My dad used to observe that if I fell in the sewage works, I would come out smelling of roses

I think we fashion our own success most of the time, but getting away with what should have been a huge disaster is just pure luck

One of my worst positions in forex was saved when the Madrid bombing happened...
On a similar note - sort of - it's the markets that often give me an indication as to whether something serious has happened - I was watching Dow futures during 9/11 and futures dropped 200+ points within secs. Ditto London bombings. RIP all those who died.
  • #216,875
  • Apr 13, 2010 11:17am Apr 13, 2010 11:17am
Quoting pawpaw1000
I reckon, same shit!

I'm done... Didnt have alot of time to trade today and had a red day...

Am kinda depressed / angry as I started really well, was up 20% after 3 weeks but have slowly been losing it all the way down to just 5% up...
sorry bro

go back and see where it went wrong

let the market come to u dont chase it

if i have a green i am out waiting for awhile enjoy a smoke
  • #216,876
  • Apr 13, 2010 11:20am Apr 13, 2010 11:20am
I'm off guys! Have a good day all and catch u later cable!
  • #216,877
  • Apr 13, 2010 11:25am Apr 13, 2010 11:25am
Quoting free4440273
I'm off guys! Have a good day all and catch u later cable!
Ditto, if it's anything like the last few days, the final furlong will be like watching paint dry.

CU all tom
  • #216,878
  • Apr 13, 2010 11:29am Apr 13, 2010 11:29am
Quoting OldReigatian
Ditto, if it's anything like the last few days, the final furlong will be like watching paint dry.

CU all tom
LOL, but plenty of volatility today in cable, and esp. eur/yen which i also trade. like i always say -- always money to be made

take care!
  • #216,879
  • Apr 13, 2010 11:36am Apr 13, 2010 11:36am
did we break the ltl on the h1 ?

i still need to see a break of 1.5330 to confirm we going down and a top has been formed.
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  • #216,880
  • Apr 13, 2010 11:43am Apr 13, 2010 11:43am
We are at an interesting place here, back to the 538 area, however this last retrace on H1 is the exact 38.2 fib retrace of the 51280-54845 move up. With the major support just below the retrace at 5335 on H4 we can expect some consolidation here in late hour trading for a likely move back up to 5480 as long as 5335 holds on H4. Alternatively a break of 5335 will bring us down to 5141.

For now I stand aside to watch the action.
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