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Cable Update (GBPUSD)

  • #220,821
  • Apr 23, 2010 2:41am Apr 23, 2010 2:41am
Look for a move up thru the morning, then a selloff around noonish EST.
  • #220,822
  • Apr 23, 2010 2:43am Apr 23, 2010 2:43am
if the GDP is more than .4% then the it will go up and i have looked the price movement and looks to go up 100 pips stright
  • #220,823
  • Apr 23, 2010 2:44am Apr 23, 2010 2:44am
I am comfortable with over 1500 Pips this week, so I am not going to hang my ass out. But a word to the wise, if you are down looking for a catchup, better to lick thy wounds then to chase this beast on Friday.....!!!

Just FYI
Jim
  • #220,824
  • Apr 23, 2010 2:44am Apr 23, 2010 2:44am
Although I am not in at moment, I am leaning towards there being a climb to 5450 area with a big selloff back to 1.53 this afternoon. Will follow closely but I will not be entering until there is clarity after the news
  • #220,825
  • Apr 23, 2010 2:49am Apr 23, 2010 2:49am
Quoting Nene
I am comfortable with over 1500 Pips this week, so I am not going to hang my ass out. But a word to the wise, if you are down looking for a catchup, better to lick thy wounds then to chase this beast on Friday.....!!!

Just FYI
Jim
good job bro.. congrats.
  • #220,826
  • Apr 23, 2010 2:50am Apr 23, 2010 2:50am
Quoting A-speculator
good job bro.. congrats.
I'm still BE after 6 weeks

that could be seen as an achievement!
@pawpaw1000 on Twitter
  • #220,827
  • Apr 23, 2010 2:52am Apr 23, 2010 2:52am
Quoting Nene
I am comfortable with over 1500 Pips this week, so I am not going to hang my ass out. But a word to the wise, if you are down looking for a catchup, better to lick thy wounds then to chase this beast on Friday.....!!!

Just FYI
Jim
Well done, nice bunch of pips
Just my 2 cents worth
  • #220,828
  • Apr 23, 2010 2:53am Apr 23, 2010 2:53am
Quoting pawpaw1000
I'm still BE after 6 weeks

that could be seen as an achievement!
yeah.. not easy to survive in this business.. good job.
  • #220,829
  • Apr 23, 2010 2:55am Apr 23, 2010 2:55am
Quoting Nene
I am comfortable with over 1500 Pips this week, so I am not going to hang my ass out. But a word to the wise, if you are down looking for a catchup, better to lick thy wounds then to chase this beast on Friday.....!!!

Just FYI
Jim
not bad man keep it up

let the market come to u
  • #220,830
  • Apr 23, 2010 2:57am Apr 23, 2010 2:57am
Buy @ 1.3550
SL @ 1.5306
TP @ 1.5460

daily - 4HR - 1HR charts pointing up supported by RSI and MACD
tried to break 1.5340 but failed to close below during Asian session

attached 1HR chart

Happy pipping!
Attached Image (click to enlarge)
Click to Enlarge Name: 2010.04.23 - 1hr - trade 78 - pure price action.gif Size: 50 KB
  • #220,831
  • Apr 23, 2010 2:59am Apr 23, 2010 2:59am
Quoting pawpaw1000
I'm still BE after 6 weeks

that could be seen as an achievement!
For starting 6 weeks ago and not loosing yet, this is fantastic paw.
Most beginners loose in the beginning or even worst blow their account. You are doing great, man, keep it up.
For my part, i have blown my first account (1.5 years back), then after months become kind of breakeven trader and improving slowly.
But your learningspeed is awesome. Nice!
  • #220,832
  • Apr 23, 2010 2:59am Apr 23, 2010 2:59am
Nene, congrats on the good pipping! Would love to have that tally!

Pawpaw, break-even is an achievement. considering 95% of people LOSE, to be break even shows you have succeeded in the most important rule. Preservation of capital.

I still think 30 pips a day is a great day. Average between 20-30 normally, but part of my reason is that I quit while I'm ahead. Whilst cutting off further gain, I at least preserve my winnings. 1500 pips a week is good money even on the lowest denomination. Well done!
  • #220,833
  • Apr 23, 2010 3:02am Apr 23, 2010 3:02am
I apprecate the vote of confidence, but you guys will be fine. Just dont follow your heart, just your technicals, trendlines and such and you will be fine. Just keep 1 thing in mind, Your trendlines start to prove stronger on the larger timeframes. And you lagging indys are like tits on a bull under the 4 hr. Just use your head.
Jim
  • #220,834
  • Apr 23, 2010 3:04am Apr 23, 2010 3:04am
German Ifo Business Climate smashes expectiations to 101.6 , not bad , could we see a euro rally , im in for 20 pips.
  • #220,835
  • Apr 23, 2010 3:04am Apr 23, 2010 3:04am
traded eu/yen long - and waiting for gb data now
  • #220,836
  • Apr 23, 2010 3:06am Apr 23, 2010 3:06am
If it makes you feel better, I lost $75,000 when I first started FX.

Quoting dag777
For starting 6 weeks ago and not loosing yet, this is fantastic paw.
Most beginners loose in the beginning or even worst blow their account. You are doing great, man, keep it up.
For my part, i have blown my first account (1.5 years back), then after months become kind of breakeven trader and improving slowly.
But your learningspeed is awesome. Nice!
  • #220,837
  • Apr 23, 2010 3:07am Apr 23, 2010 3:07am
paw

u are doing great we did blown a lot acc when we started no loss is a win
  • #220,838
  • Apr 23, 2010 3:07am Apr 23, 2010 3:07am
Quoting Nene
If it makes you feel better, I lost $75,000 when I first started FX.
Bet you've made that back nicely!!

I lost a fair bit of cash when i first started, then stopped and went onto demo for months. Still trade a lot on demo when learning new techniques.
  • #220,839
  • Apr 23, 2010 3:14am Apr 23, 2010 3:14am
Yea, I think that every good trader has to take his licks at first. The good ones stop taking them at some time and get smart.

Quoting The Magician
Bet you've made that back nicely!!

I lost a fair bit of cash when i first started, then stopped and went onto demo for months. Still trade a lot on demo when learning new techniques.
  • #220,840
  • Apr 23, 2010 3:18am Apr 23, 2010 3:18am
what i am hoping for - nice data and they pump - and then heavily short
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