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Cable Update (GBPUSD)

  • #227,621
  • May 19, 2010 10:57am May 19, 2010 10:57am
Quoting kill56
1BB

welcome back bro hope u had a great time
Cheers bro! I had a great time. Wedding is on Friday so I am looking forward to that too. Take it easy bro and speak to you soon!
  • #227,622
  • May 19, 2010 11:02am May 19, 2010 11:02am
Quoting 4xStar
No one else seems to be noticing, but I think pa has been nuts, jumping all over the place ... very hard to trade, but good practice for the fingers to scalp for small pips. I;m not sure why cable & fibre will jump 10 pips in an instant, then back again ... big swings up & down that seem to have no rhyme or reason.
I Agree, could anyone shed some light on why the market has been soo ridiculous this week...

Is KILLING me...
@pawpaw1000 on Twitter
  • #227,623
  • May 19, 2010 11:11am May 19, 2010 11:11am
Traders I am a habitual scalper for the most part , Many of you have witnessed a few agruments back and forth about using averages and trendlines . Evened mentioned that using averages is childlike . I guess to be a grown up trader you must use trendlines . My own opinion is drawing trendlines and looking at what has happened and drawing a conclusion of what may happen is one thing , technical analysis basically . Trading is not technical analysis. If you buy at a trendline drawn from where ever how ever and the market is still being sold you are basically throwing your money away , and vice versu selling at a trend line, witnessed many times on many differnt forums lol. Even a small breach of a longer time frame trendline can equate to hundreds of pips . The charts I have been posting is one of my favorite scalping charts. I would like to brag about picking the exact tops and bottoms but I really dont worry about them a person sure dont need to make money . The little blue average provided many entries to get in and take a few pips . The bounce off the big white average which I posted I was watching that area (was also yesterdays low). Another point dont be afraid to take some profit , a few smaller trades give you a nice pip total rivaling the so called big guns by weeks end. It is nice to think and hope every entry will go 150 pips up to the 1000s of pips to levels talked about above and below current price . Which ever level it goes to it will get there one pip at a time and there is things you can use to get some profit . The current short I had was closed near todays open . Start small and find something that works consistently and with practice you will be very profitable . Cheers all
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  • #227,624
  • May 19, 2010 11:11am May 19, 2010 11:11am
Quoting pawpaw1000
I Agree, could anyone shed some light on why the market has been soo ridiculous this week...

Is KILLING me...
hi paw. since last tuesday's hi @5045, cable's fell approx 800 pips upto monday. It's usually a norm to see a bit of consolidation before a correction or a continuation tbh.
Take it easy
Thank You
  • #227,625
  • May 19, 2010 11:13am May 19, 2010 11:13am
Quoting fourxtrader
When all else is down, Deere (DE) shares rose 3%....

Digger must have bought more tractors for his operations.

Dr. D.
voodooboodoodoc
Ah ha ha , havent had time to get to the dealer as of late but do have my eye on a few things lol
  • #227,626
  • May 19, 2010 11:24am May 19, 2010 11:24am
Quoting digger1
Traders I am a habitual scalper for the most part , Many of you have witnessed a few agruments back and forth about using averages and trendlines . Evened mentioned that using averages is childlike . I guess to be a grown up trader you must use trendlines...

Hi dig,

I scalp too. Strictly with trendlines. Here's my working m1 for the day complete with the entry/exit history earlier. All the trades were taken off the tl, break/bounce. No money was thrown away
Like you said, with practise, one can be profitable. Even with a bunch of lines.

Have a good one!
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Thank You
  • #227,627
  • May 19, 2010 11:25am May 19, 2010 11:25am
Quoting wormboy
Hi dig,

I scalp too. Strictly with trendlines. Here's my working m1 for the day complete with the entry/exit history earlier. All the trades were taken off the tl, break/bounce. No money was thrown away
Like you said, with practise, one can be profitable. Even with a bunch of lines.

Have a good one!
no doubt about it , the difference is you know how to draw a trend line I dont ha ha , the practice part makes anything workable
  • #227,628
  • May 19, 2010 11:32am May 19, 2010 11:32am
Quoting wormboy
Hi dig,

I scalp too. Strictly with trendlines. Here's my working m1 for the day complete with the entry/exit history earlier. All the trades were taken off the tl, break/bounce. No money was thrown away
Like you said, with practise, one can be profitable. Even with a bunch of lines.

Have a good one!
Hey wormy, those two green arrows on the left, are they entry points? if so, how did you enter?

And another quick question is how do you judge whether a line will hold or break, looking at engulfing candles or hammers?
@pawpaw1000 on Twitter
  • #227,629
  • May 19, 2010 11:32am May 19, 2010 11:32am
My trendlines end up like most , after a while running everywhich way looking like the old etch a shetch toy except its hard to hold a monitor up and shake and make them all dissappear lol. Profit margin seems to drop when I start guessing which one it may do something at ha ha
  • #227,630
  • May 19, 2010 11:33am May 19, 2010 11:33am
Quoting digger1
no doubt about it , the difference is you know how to draw a trend line I dont ha ha , the practice part makes anything workable
true. anything with practise usually yields positive results in the end.
Thank You
  • #227,631
  • May 19, 2010 11:34am May 19, 2010 11:34am
Quoting digger1
Traders I am a habitual scalper for the most part , Many of you have witnessed a few agruments back and forth about using averages and trendlines . Evened mentioned that using averages is childlike . I guess to be a grown up trader you must use trendlines...
digg my little kill can draw trend lines and he is good at it but he dos not like to see red pips and a lot of it
its a PA up and down i can make a lot more if i hit and run %100 or more than i use to make only this week i made money for the whole month when i look at the big companys they only use the dam ma's some add S/R or fibo nothing elss any way tl is ok if u make money of it
  • #227,632
  • May 19, 2010 11:41am May 19, 2010 11:41am
Quoting pawpaw1000
Hey wormy, those two green arrows on the left, are they entry points? if so, how did you enter?

And another quick question is how do you judge whether a line will hold or break, looking at engulfing candles or hammers?
no, the first two are exits. I bought lower on the ltl bounce, left a price alert ard dp & went to bed. Woke up when the alert triggered and closed the trade. I didn't sell the dp rejection because I was not ard to trade at the time, came back price had already fell again. So I waited to see if it'll hold, it broke instead, so I sold & scalped there.
You don't have to guess if it'll break or bounce tbh, let price lead you. It's the m1, so it's usually pretty quick & easy to decide. Candle formation on the m1 usually are not reliable imho.
Thank You
  • #227,633
  • May 19, 2010 11:41am May 19, 2010 11:41am
Quoting digger1
no doubt about it , the difference is you know how to draw a trend line I dont ha ha , the practice part makes anything workable

dig one person i do respect and he is humble willing to help others and he use TL the rest is a bunch of doodoo
  • #227,634
  • May 19, 2010 11:42am May 19, 2010 11:42am
Quoting kill56
digg my little kill can draw trend lines and he is good at it but he dos not like to see red pips and a lot of it
its a PA up and down i can make a lot more if i hit and run %100 or more than i use to make only this week i made money for the whole month when i look at the big companys they only use the dam ma's some add S/R or fibo nothing elss any way tl is ok if u make money of it
ha ha , kill I know you been collecting lots of greenie , make sure you teach kill jr
  • #227,635
  • May 19, 2010 11:45am May 19, 2010 11:45am
Quoting kill56
dig one person i do respect and he is humble willing to help others and he use TL the rest is a bunch of doodoo
Ah wormie he has got strong kung fu lol
  • #227,636
  • May 19, 2010 11:49am May 19, 2010 11:49am
Hi! Is anyone using fxcm? I can't open platform for 40 min already??
thanks
  • #227,637
  • May 19, 2010 11:49am May 19, 2010 11:49am
Quoting digger1
Ah wormie he has got strong kung fu lol
u are the man digg
  • #227,638
  • May 19, 2010 11:50am May 19, 2010 11:50am
hai..
just want to ask is downtrend now over or not?
Revesal Trader
  • #227,639
  • May 19, 2010 11:53am May 19, 2010 11:53am
Quoting digger1
Ah wormie he has got strong kung fu lol
catch you later dig. Trade safe!
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Thank You
  • #227,640
  • May 19, 2010 11:55am May 19, 2010 11:55am
same area wormie , should have kept you from guessing there was a bottom till there was a bottom lol
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