Cable Update (GBPUSD)

i like cute

cable seems to be in a buy and forget mode

under these circumstances its best traded on 1 minute and 5 minute charts

Last print 1.5641. Target still expecting 1.5795-1.5831 area to realize in the next couple of days. Keep long.

Yes !!! I did surrounding M5-200/DP !

Trading like dancing listen to the rhythm and GO With it

fucking bulls
and .... my greedy ((

selll biggest hammer on 15

1hr screenshot below

G/L

Bounce again at M5-200/DP !

Hi TAU, I see you have built up quite a few shorts, I agree with you on the direction, could you explain your money management vis-a-vis the position building? Do you have same position size alll the time? % Of account with staring position...?

Thanks

PJ

You could just shut up and leave, but you dont have that kind of self dignity.

PA is hitting the 50% fibo level from the high of 2009.8.5 and low of 2010.5.19

...meanwhile back in trading land....How strong are the £ bulls / $ bears today? Or is the fact we reached the 4hr channel top again an ominous sign of a pending correction/reversal ??

Time will tell.

G/L

I think today the bit of correlation left betweem GU and EU is passing away....

Good day to you,

Until it backfires on me...

Seriously though - I am a very conservative guy when it comes to the money. I have made a directional decision on a couple of pairs this week. To be able to possibly benefit, I need to be in the market.

Therefor I opened my initial trades as the market opened on Sunday. Should price then move to my targets immediately, I have positions open. Should price move against my initial entry, I add.

I can always wait for better entries, but then I may miss the move all together. So I have to sacrifice. I normally select an average movement of the pair to determine when to add. Some slower pairs will have more frequent addition - faster moving pairs less frequent.

The diversification over a couple of pairs usually works quite well, as some will move strongly, others will not.

I use up to 10% of my available funds as a total guideline. The entries are fixed lots within my tolerance. I never "double up" or increase lot size with fresh entries to substantially improve average entry price. I stick to a fixed size - as I do not know how far price may move against me. Could be 500 pips or 1000 pips. This does improve my average entry price, but not substantially - which is ok.

I do not know how to better explain.

Regards

beautiful comparison! especially as he's blind!

thanks for the explanation, I've been experimenting with that kind of trading too. I belive you are right about needing to be in the market and I think most successful trades trade this way.

PJ

The MA on GU right now is NUTS.

Whipsaw

Good day to you,

Truly a greedy bunch in charge. They should be ashamed.. continually sucking in more and more and more.

I guess in the end, it will then just speed things up substantially when the curveball comes. Bring it - big boy

Regards

LOL love it! thats brightened up my Friday afternoon as I wait for my next patient! thanks