Cable Update (GBPUSD)

Hi guys

what a boring period we are in been sitting on a long at 4771 for over an hour
got some mastakes to correct from this morning
Anyone agree a move to 4815 is coming?

I guess we are waiting for news at 1:30 here is hoping we start pushing up

waiting for short 14746 with target 14620

out for 10 pip loss bummer

Yeah I'm out at BE for the news.

Cable is looking to test .4500 My sentiments remain the same
http://www.forexfactory.com/showpost...stcount=226274
edit: bottom trade taken off

bakker,
the deal is,

-Everything in FX changes when you put money on it.
-You can't demo forever. But you should stay on and learn about yourself and your style.
-There is no holy grail. The holy grail of trading is in every trader FX / otherwise.
-confidence / practice, a strong will and stomach
- TA and FA ---- or ----- FA and TA. Can't have one w/o the other

Your friend / FF member pawpaw made a good statement to you.

My advice, scratch the demo now, and open the micro, immediately you will become a better trader if you are serious about this.

If you are not, - well you might be "IT" and all but don't think someone won't know the second you are "working" overtime if you know what I mean.

Take it or leave it. Just advice.

I am looking for a bounce long off this retest. looks 50/50 but the upside is great.

Jim

If I stopped trying to catch the bounces and just focused on following the bloody trend, I'd grab 10X the pips! Lesson learned!

SL hit

I done with cable, other pairs need attention

Later

Cable is the only pair to trade!

Thanks for the advice and I agree with what you are saying. I do have micro, but I have no trading plan. When I started I was using my micro account and trading with real money, but I was in reality guessing as I had no plan to follow. I am now formulating my plan and it will be done in the next 4-6 weeks while I am test running it on demo. I would like to thank the Voodoo Boodoo team for allowing me to see a strategy that works for them and I plan to follow.

Pawpaw is also on micro and when testing a plan, he blew 40% of his account. http://www.forexfactory.com/showthre...gy#post3697684

He is now using demo to test his plan.

I'd rather have a trading plan set in stone before I go back to micro. This is what the james16 thread taught me.

I work in IT, for a software company. My boss knows what I am doing. He wasn't born yesterday. I worked my butt off last year working weekends, evenings, etc. but because I am the last to join the team (I have been here 7 years now) and the ratio of Senior to Expert is already set, my only chance of promotion here is if someone were to leave. Nobody has left during my time here except through redundancy 5 years ago. So I told them I was not happy and told them where was the incentive.... they shrug their shoulders and said that was policy from head office in another country. So I said fine, but I will just do my 9:30-18:00 and do enough work for them to still give me my bonus as they have done every year since I have worked here, except for last year because of the downturn even though I worked my butt off. BTW, two months later, the big cheese came over and gave me a token bonus outside of the standard bonus system

So f**k them and local management know what I am up to, but they want me stay. So I am now getting into Forex to make my own bonus, hopefully in the long term much bigger than they can ever give me.

I have hit my TP and I have had enough for today. I am also going on a stag weekend tomorrow as one of my friends is going to get married next week. I am going to get seriously messy and reflect on my experience of this forum and thread as well as taking a break from my Forex studies.

Thanks again for having the time to respond with your valuable advice.

Buy at 1.4700 TP open SL 20pips

yeah i noticed that, cheeky bastards.

how did ya work that one out?

must still be in. low of 85

cable certainly not for the faint heart and it really tests one's trading prowess (I've still got lots to learn)

charts tell me otherwise, but my head tells me that its done a daily 200 pip range (from 14900). It can't be far from a bottom for the day (provided no more bad news), but catching falling knives is not best practice here.

hence, i'm not trading this one now. I'm punting (i think the ROI is worth it).

closed @14690 - waiting for long@ 14730 with target 14780

By the skin of my teeth but still there hoping for 4830 test

Hmmm, I added to my short.

I might be well wrong but after 231 pip range im hoping its had enough down for today and we will get a rise towards London closing hope my fingers dont end up smelling HAHAHA

not sure whether to long myself.