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Cable Update (GBPUSD)

  • #223,781
  • May 5, 2010 4:33am May 5, 2010 4:33am
Quoting wormboy
okay.
but you do not need to have that many triggers to confirm in between tf.
Moving averages aren't leading indicators, so having the need to confirm on multiple tf & multiple crosses will just slow you into entry & slow you out of whipsaws. Imho, all you need is one trigger.
Just a thought.
so what did you use as a trigger? I guess I'm actually just watching DP and 365ma on m5... That will give me a confident entry and then look to add as we break other "triggers"...

IF WE GO TO LTL I'LL Buy just as it would be a really good entry but then my S/l would be really tight and brought to BE at any up move!
@pawpaw1000 on Twitter
  • #223,782
  • May 5, 2010 4:34am May 5, 2010 4:34am
100 standard lots. really?
forexlion, will u give me a jet?
  • #223,783
  • May 5, 2010 4:35am May 5, 2010 4:35am
this thing keep bouncing....

rofl
Attached Image (click to enlarge)
Click to Enlarge Name: 2.gif Size: 40 KB
Verily, in every difficulties there is relief
  • #223,784
  • May 5, 2010 4:35am May 5, 2010 4:35am
ha ha yeah man I'm in a short, I think probably I'm wrong. I'm hoping it will go down to the bottom again then I'm going to get out and join the scalpers

although I will tell you the bearish action down at the low can get quite convincing, especially after yesterday's bloodbath. However, I thin Regaitian is probably correct about the election, NFP, etc. causing price action to range quite a bit.

Home, Home on the range... where the deer and the antelope play...

Quoting pawpaw1000
HAHA! Hitch, you got a trade running? Lets please ignore them, it just fans the flames when we respond...

Pa is really slow but i guess the scalpers are killing today... that triangle is getting very small now on m15...
"The real genius is knowing when to stop." - Marc Faber
  • #223,785
  • May 5, 2010 4:37am May 5, 2010 4:37am
long again at 5152.
  • #223,786
  • May 5, 2010 4:39am May 5, 2010 4:39am
the usd had it's fun this week. now it's time for the stock market to regain something..... otherwise fox news would have nothing to talk about tomorrow, other than , the market is down again! it's that damn dollar.
  • #223,787
  • May 5, 2010 4:39am May 5, 2010 4:39am
Quoting The Magician
long again at 5152.
cant wait for this to break!!!

this is my Demo BTW, I use it for charting and currently trying my new strategy. BUT, this looks like such a nice setup, I might live it
Attached Image (click to enlarge)
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@pawpaw1000 on Twitter
  • #223,788
  • May 5, 2010 4:40am May 5, 2010 4:40am
Quoting TheFutureAce
so just a logical question i guess...why dont u point the guy towards the indicators that are reliable....or tell him which of ur indicators are reliable?

if u trade 100 standard lots...on them...this is well enough to trust ur indies

just my 2 cents
dont be lied by the figures bro if those indi r not reliable why show the pic to the public is it to advertise them or to mislead people
  • #223,789
  • May 5, 2010 4:41am May 5, 2010 4:41am
Quoting Clouds
100 standard lots. really?
forexlion, will u give me a jet?

yea keep in mind he also said he only risks 1.5 % of his account. This dude is a Billionaire. He also said he is working on deals to trade direct with banks and not deal with brokers. Check his thread LOL. Indian Guru Trading majors.

Ya never know he could be telling the truth. However this is the internet and any thing goes here.
  • #223,790
  • May 5, 2010 4:42am May 5, 2010 4:42am
Since the movement for cable is quite slow, why not look into the aussie and the kiwi. I think there is a nice setup for long.. Just my 0.02..
  • #223,791
  • May 5, 2010 4:44am May 5, 2010 4:44am
Quoting Pip Hunterr
yea keep in mind he also said he only risks 1.5 % of his account. This dude is a Billionaire. He also said he is working on deals to trade direct with banks and not deal with brokers. Check his thread LOL. Indian Guru Trading majors.

Ya never know he could be telling the truth. However this is the internet and any thing goes here.
thats right bro but for me this is show off/pride he doesnt act like the name suggest
  • #223,792
  • May 5, 2010 4:45am May 5, 2010 4:45am
I'm looking for this range to tighten a bit before a nice breakout (hopefully upwards with David Cameron holding a small majority ).

I've done very nicely with 2 recent breakouts using 5min charts so a 3rd would be very nice indeed!
Attached Image (click to enlarge)
Click to Enlarge Name: gu5min.gif Size: 35 KB
  • #223,793
  • May 5, 2010 4:46am May 5, 2010 4:46am
Quoting Pip Hunterr
yea keep in mind he also said he only risks 1.5 % of his account. This dude is a Billionaire. He also said he is working on deals to trade direct with banks and not deal with brokers. Check his thread LOL. Indian Guru Trading majors.

Ya never know he could be telling the truth. However this is the internet and any thing goes here.
oh , wow, 1.5%, so if he buy at 1.50 with stop loss 1.495 and target 1.51, he risk $50,000 which is 1.5% , so his balance $3.3 Million. Not quite a billionaire, but some nice money!
  • #223,794
  • May 5, 2010 4:48am May 5, 2010 4:48am
in my opinion, it is the nature of traders -- all traders -- to believe that they know something, and sometimes to talk about what they think they know.

when in fact the truth is, nobody really knows anything, until after the fact.

therefore, the best option is to concentrate on one's own progress, and not spend too much time focussing on others and what they think they know.

my $.02, hope it helps.
"The real genius is knowing when to stop." - Marc Faber
  • #223,795
  • May 5, 2010 4:52am May 5, 2010 4:52am
Quoting pawpaw1000
so what did you use as a trigger? I guess I'm actually just watching DP and 365ma on m5... That will give me a confident entry and then look to add as we break other "triggers"...
I used ma crosses a while back, don't use them anymore. Won't say why as I know there are many who uses them & I do not want to ruffle any feathers with my opinion. I just use price & a bunch of lines to trade nowadays.

Anyway, for this particular trade,
my buy trigger is the m5 ltl bounce & close above day open price. Apart from the emergency stop, my exit plan for this trade is price closing below the same ascending ltl.
I've attached my working chart below to illustrate to you the levels I'm working with.
Hope it helps.
Attached Image (click to enlarge)
Click to Enlarge Name: gum5.gif Size: 33 KB
Thank You
  • #223,796
  • May 5, 2010 4:53am May 5, 2010 4:53am
Quoting hhitch
in my opinion, it is the nature of traders -- all traders -- to believe that they know something, and sometimes to talk about what they think they know.

when in fact the truth is, nobody really knows anything, until after the fact.

therefore, the best option is to concentrate on one's own progress, and not spend too much time focussing on others and what they think they know.

my $.02, hope it helps.
agree...
Verily, in every difficulties there is relief
  • #223,797
  • May 5, 2010 4:58am May 5, 2010 4:58am
Quoting wormboy
I used ma crosses a while back, don't use them anymore. Won't say why as I know there are many who uses them & I do not want to ruffle any feathers with my opinion. I just use price & a bunch of lines to trade nowadays.

Anyway, for this particular trade,
my buy trigger is the m5 ltl bounce & close above day open price. Apart from the emergency stop, my exit plan for this trade is price closing below the same ascending ltl.
I've attached my working chart below to illustrate to you the levels I'm working with.
Hope it helps.

THANKS WORMY

Seems like a good strategy...

My trigger should be pulled withing the next 20 min looking at current PA..
BUT YAWN, it is SOOOO slow!
@pawpaw1000 on Twitter
  • #223,798
  • May 5, 2010 5:00am May 5, 2010 5:00am
Quoting bbakker
Attachment
It has been below Digger's daily pivot line as you can see on the above image, so still short biased, but I won't jump in until that wedge is broken and gives confirmation. Saying that it does need to retrace back to 200ema on m15 and m30 at some point and that is long.

Back to my work, although working from home today, so that is a nice bonus! Taxman still engaged and I love writing lots of BS, but not as much as ForexLion
  • #223,799
  • May 5, 2010 5:01am May 5, 2010 5:01am
Quoting fxrambo
thats right bro but for me this is show off/pride he doesnt act like the name suggest
True. Just remember there are many others here that truly want to help nubees. take advice from them and ur good. They all will share their knowledge. The ones I am sure of are Magic, Kill56 (I think lol) Wormboy and quite a few others who seem to have their Shit together from what I see.

I did post earlier that FXLion tail is good and I use it but he seems like more a a show off and joker than somebody who wants to help others.

Happy pipin
  • #223,800
  • May 5, 2010 5:04am May 5, 2010 5:04am
Quoting pawpaw1000
THANKS WORMY

Seems like a good strategy...

My trigger should be pulled withing the next 20 min looking at current PA..
BUT YAWN, it is SOOOO slow!

you're welcome
Thank You
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