Cable Update (GBPUSD) | Page 11035 | 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)

  • #220,681
  • Apr 22, 2010 3:41pm Apr 22, 2010 3:41pm
Quoting Temps
who never loses malcomb??

I would really like to know??

pm me please....
  • #220,682
  • Apr 22, 2010 3:42pm Apr 22, 2010 3:42pm
Quoting kill56
show me which one
please take a look at my yellow arrows
Attached Image (click to enlarge)
Click to Enlarge Name: screen.gif Size: 29 KB
  • #220,683
  • Apr 22, 2010 3:43pm Apr 22, 2010 3:43pm
Quoting malcolmb14
Mind sharing the trades and why you took , maybe Mag and I can evalualte them for you and give you pointers as to what went wrong.

We have all made mistakes , some learnt form them and some not. I forgot to set my +60 pip gj trade stop to be abd just got notification I was stopped out -50 . Lol

I forgot what a bitch gj can be have not traded her in a while
Yea I tried gy when i fist started out because when i was demoing it was giving me 15-20 pips at least 3 times a day. The first week I was live it gave me my first margin call. Aud/usd the same all of a sudden. That was my first main hit today. At 11:31 I soldfrom 9250 to 9272. Then on cable (which is the only pair I trade outside of the occasional aud/usd) at 15:05 I sold from 5386 to 5372 and at 16:55 I sold from 5355 to 5384, which really got under my skin.
  • #220,684
  • Apr 22, 2010 3:46pm Apr 22, 2010 3:46pm
Quoting bzyqe
please take a look at my yellow arrows
here its
Attached File(s)
File Type: mq4 !_super-signals_v2.mq4   1 KB | 313 downloads
  • #220,685
  • Apr 22, 2010 3:47pm Apr 22, 2010 3:47pm
Quoting cloggie
I got distracted by the leadership debate here and heard my pricealarm, closed at BE. Ah well, am done for tonight could have had a few pips on this trade if I had set a SL to BE+.
I donīt took the trade but
thought for myself by reaching DP at 1.5393,
now cloggie is cashing in.

The politics, what a mess... but you had the right direction.

Iīm out for today, see you all tomorrow
  • #220,686
  • Apr 22, 2010 3:50pm Apr 22, 2010 3:50pm
Quoting kill56
here its
thank you very much
  • #220,687
  • Apr 22, 2010 3:50pm Apr 22, 2010 3:50pm
Quoting dag777
I donīt took the trade but
thought for myself by reaching DP at 1.5393,
now cloggie is cashing in.

The politics, what a mess... but you had the right direction.

Iīm out for today, see you all tomorrow

yeah I had the right direction and should have moved my SL away from BE. I really enjoyed the debate tonight and am glad that William Glegg got notched down a few by both Brown and Cameron. I loved GB's line telling him to get real. It is a shame I can't vote in the general election here only the local ones. I am done for tonight see you guys at Franky open. I put on a cheeky short with a tight TS at 5375, getting me some milk money overnight.
  • #220,688
  • Apr 22, 2010 3:53pm Apr 22, 2010 3:53pm
malc how is the ES doing i hope u got some out of it
  • #220,689
  • Apr 22, 2010 3:59pm Apr 22, 2010 3:59pm
THX KILL
Attached Image (click to enlarge)
Click to Enlarge Name: thxkillioweuone.gif Size: 58 KB
  • #220,690
  • Apr 22, 2010 4:02pm Apr 22, 2010 4:02pm
Quoting Ineedpips9
Yea I tried gy when i fist started out because when i was demoing it was giving me 15-20 pips at least 3 times a day. The first week I was live it gave me my first margin call. Aud/usd the same all of a sudden. That was my first main hit today. At 11:31 I soldfrom 9250 to 9272. Then on cable (which is the only pair I trade outside of the occasional aud/usd) at 15:05 I sold from 5386 to 5372 and at 16:55 I sold from 5355 to 5384, which really got under my skin.

I think this may be an easy solution

It seems you sold :
1.5386 to 1.5372
1.5355 and stopped out 1.5384

Both of these seems to be in the US session today.

Is this correct ?

If so consider the daily range. GU is about 120 pip right now. It completed that as the US stock market opened. Once gu completes its daily range , if a down day I always consider selling tough as often it will reverse to upside to form a little flag on 15 min chart and forming wick on daily candle.
Blogging daily now at www.volume.zone
  • #220,691
  • Apr 22, 2010 4:07pm Apr 22, 2010 4:07pm
Quoting malcolmb14
well according to a few in here that never lose .... the days range was 1200 pip and they made every single one of them ...

lol

GU looks like bear flag to me on 15. Waiting till late Asia I think to trade
Hi mal and All
Yep agree with you But it seems it play hard to get
  • #220,692
  • Apr 22, 2010 4:12pm Apr 22, 2010 4:12pm
We will test the weekly pivot once more.

Jim
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 39 KB
  • #220,693
  • Apr 22, 2010 4:14pm Apr 22, 2010 4:14pm
Quoting malcolmb14
I think this may be an easy solution

It seems you sold :
1.5386 to 1.5372
1.5355 and stopped out 1.5384

Both of these seems to be in the US session today.

Is this correct ?

If so consider the daily range. GU is about 120 pip right now. It completed that as the US stock market opened. Once gu completes its daily range , if a down day I always consider selling tough as often it will reverse to upside to form a little flag on 15 min chart and forming wick on daily candle.
yes. they were during the us session. Am I understanding you when you say that at the end of each session look at the range and be on the look out for trend reversals?
  • #220,694
  • Apr 22, 2010 4:38pm Apr 22, 2010 4:38pm
looking and thinking it dos look like an H&S but it will be valid if we cross the n line are we geting there time will tell ,till then lets play the range

info back plz
Attached Image (click to enlarge)
Click to Enlarge Name: h4 cable.gif Size: 26 KB
  • #220,695
  • Apr 22, 2010 4:41pm Apr 22, 2010 4:41pm
Quoting Ineedpips9
The problem(s) are evident. For chart reading, I use the 1H and sometimes 4H to see which direction I should be trading for the day. I then look at the 5M and 15M charts to find and entry/exit position.I use the Pivot_v3, IBFX Daily Pivots, forexsignalszulutrade, and the moving averages of 365,200,144,89,55, and 34 as my indicators/ma. I think tose usually give good entry, but exit is another story for me.

I only expose 1.5% of capital and usually have only one order open, sometimes two. In the past I've always had my stop loss at 25 pips...
Scalping Gu myself I have remark that over 40 pips DD, most of the time the trade wont get back at entry. Keep in mind that most commun correction is 50%, so if price made 40 pips usual correction will be 20 pips...

I use myself 30 to 35SL and I am able usualy to close in -5 to -15 pips DD. If you have a nice accuraty for entry and try to never get a full loss then it will make sens I think.

You maby have also too much tools on the chart and not focus on what's happening. Bar makes high and low. Highier high = trend up, lower low = trend down, no higher high and no lower low = ranging...

Sounds childish but this is still the way price action act.

I use yesterday fibs levels and daily pivot, + 00 and 50 as chart map.
30 200 600 and 1440 ema.

I got now prention, just trying to help.

Later!
"Fly Kite Fly!"
  • #220,696
  • Apr 22, 2010 4:51pm Apr 22, 2010 4:51pm
Quoting Ineedpips9
yes. they were during the us session. Am I understanding you when you say that at the end of each session look at the range and be on the look out for trend reversals?
When trading intraday think of London to where you are now.

Ask yorself has the range completed ? if not is the daily candle still forming and is anything left to complete daily range ? ( ie gj had 40 pip to complete daily range this morning in US)

As you can see here by very quickly into the us markets the daily range had more than completed. It was a down day so sell prevailed during the London session . Once daily range has completed very often price reverses as there is profit taking .

go back and look in your charts and see how often this works out. Do not take excat limit of daily ranges either , for example 110 is daily range of last 21 days ... this mnean that we should see 90 each day

So the long and short of it is .... the sells you took at bottom of daily range would have needed to sit till at least the next London session ( and that is assuming it will be down) to work .

Just something for you to think about and maybe keep you out of trouble in the future

Attached Image (click to enlarge)
Click to Enlarge Name: chart04b.jpg Size: 190 KB


Attached Image (click to enlarge)
Click to Enlarge Name: chart04b.jpg Size: 190 KB
Blogging daily now at www.volume.zone
  • #220,697
  • Apr 22, 2010 4:53pm Apr 22, 2010 4:53pm
Long @ 1.5390
SL @ 1.5339
TP Open

Attached Image (click to enlarge)
Click to Enlarge Name: Picture0090.png Size: 18 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #220,698
  • Apr 22, 2010 5:25pm Apr 22, 2010 5:25pm
Quoting USD-Bear
Long @ 1.5390
SL @ 1.5339
TP Open

Attachment
I wouldl ike to see a dip in Frankie to the 1.5360 area , then buy off that as volume kicks in , other than that looks like a bear flag on 15
Blogging daily now at www.volume.zone
  • #220,699
  • Apr 22, 2010 5:36pm Apr 22, 2010 5:36pm
dixy at 81.72 lets see what japan will do
  • #220,700
  • Apr 22, 2010 5:59pm Apr 22, 2010 5:59pm
Thanks Malcolm and Zulu. And everybody who had kind words and good sound advice this evening. Instead of kicking myself this weekend over my bad trades, I can now focus my concentration on researching and analyzing and follow up and study all the information you guys have provided. In a wierd way I'm kinda glad that I get to learn something new(although I wish I didn't have to take such a loss, but thats the price I guess).

Anyways, thanks again and I'll see ya tommorrow.
223 traders viewing now, 2 are registered:
dude007
,