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Cable Update (GBPUSD)

  • #242,401
  • Aug 2, 2010 10:29am Aug 2, 2010 10:29am
Quoting 4xStar
Here's what my 5 min chart looks like now...

Now that's a proper trading day. How many pips did you manage?
  • #242,402
  • Aug 2, 2010 10:31am Aug 2, 2010 10:31am
Yes, you are correct... It's a lot easier and leaves no pain behind....
Thanks, you are great in pinpointing out what the market is suggesting..

OK, step 1, change trading strategy, the rest will follow...


Quoting cloggie
There is a time and a place for countertrading, however as a "newer" trader I would figure out trend following first, lots easier. Predicting a reversal in a massive rally has cost many a trader his/her account.

Put up a 40-60 bar H1/H4, today it starts at the bottom left of your screen and ends at the top right, guess where the trend is? Now look for your dips and buy the shite out of 'm. Keep doing it until your trade gets stopped out, then start thinking about CT-ing it.

As a next level to watch I have 5926, the R3.
  • #242,403
  • Aug 2, 2010 10:32am Aug 2, 2010 10:32am
Quoting cloggie
Now that's a proper trading day. How many pips did you manage?
75 and counting .. she's on the move again...
******************* I'd rather make money than be right.
  • #242,404
  • Aug 2, 2010 10:33am Aug 2, 2010 10:33am
Quoting HowieTrader
Yes, you are correct... It's a lot easier and leaves no pain behind....
Thanks, you are great in pinpointing out what the market is suggesting..

OK, step 1, change trading strategy, the rest will follow...

Sometimes it is hard to see the forest through the trees. The blatantly obvious is often discounted, I mean trading can't be that easy now can it?
  • #242,405
  • Aug 2, 2010 10:33am Aug 2, 2010 10:33am
Quoting 4xStar
75 and counting .. she's on the move again...

Great, and how many indy's have you ignored so far?
  • #242,406
  • Aug 2, 2010 10:36am Aug 2, 2010 10:36am
Hello

I have just found your thread, and whilst I have only been back to Thursday's pages, I have picked up so much useful information - particularly the use of the boxes and the TL.

I have been using a fairly simple trading plan which uses bounces (or not) off the daily pivot, and the associated S & R. However, I would like to look at Cloggie's ideas tomorrow in real time.

As I am a complete newbie here, my posts are hand-moderated which apparently may take up to six hours (?!) and so I don't know how timely my questions will be, but I wondered if most of you guys are around most days?

Anyway, thanks again for the info and look forward to trading with you tomorrow! Also, thanks for confirmation of the Franky fakeouts - caught me out a couple of times!
  • #242,407
  • Aug 2, 2010 10:36am Aug 2, 2010 10:36am
I re-entered trade at the arrow, 5872 after she tested the bottom of the box she fell out of .. could I have gotten in lower? That lower TL was only put on after she made that retrace low .. was there another signal to get in earlier for the new long?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 34 KB
******************* I'd rather make money than be right.
  • #242,408
  • Aug 2, 2010 10:37am Aug 2, 2010 10:37am
Quoting cloggie
Great, and how many indy's have you ignored so far?
Dozens
******************* I'd rather make money than be right.
  • #242,409
  • Aug 2, 2010 10:39am Aug 2, 2010 10:39am
Quoting 4xStar
I re-entered trade at the arrow, 5872 after she tested the bottom of the box she fell out of .. could I have gotten in lower? That lower TL was only put on after she made that retrace low .. was there another signal to get in earlier for the new long?

You missed one inside TL that could have given you an earlier clue. Every time a TL disects a range it tends to from a wedge that is very tradeable. Zoom out a bit on your 15 and you'll see it. Below is roughly where she is.
Attached Image (click to enlarge)
Click to Enlarge Name: 4x gu 2.gif Size: 216 KB
  • #242,410
  • Aug 2, 2010 10:40am Aug 2, 2010 10:40am
Quoting 4xStar
Dozens

So you are finally going to clean up your charts a bit now?
  • #242,411
  • Aug 2, 2010 10:45am Aug 2, 2010 10:45am
...
Attached Image (click to enlarge)
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  • #242,412
  • Aug 2, 2010 10:56am Aug 2, 2010 10:56am
If you are in, stay in unless the range goes, if you are thinking about it, sit on your hands for a bit longer. If you are a scalper, scalp the lTL.
Attached Image (click to enlarge)
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  • #242,413
  • Aug 2, 2010 11:00am Aug 2, 2010 11:00am
Quoting egkid
Trading like dancing listen to the rhythm and GO With it
http://www.youtube.com/watch?v=dBHhS...eature=related
  • #242,414
  • Aug 2, 2010 11:05am Aug 2, 2010 11:05am
TRADING CAN BE SO SIMPLE..I JUST SAW THAT 2 DAY ....GREAT SALUTE....BUT ONE SMALL QUESTION FOR YOU? DOES THE SAME STRATEGY APPLY FPR gold TRADING....I TRIED I WITH GOLD IT TOOK 2 OF MY STOPS
Quoting cloggie
If you are in, stay in unless the range goes, if you are thinking about it, sit on your hands for a bit longer. If you are a scalper, scalp the lTL.
We cannot direct the winds but we can adjust our sail.
  • #242,415
  • Aug 2, 2010 11:06am Aug 2, 2010 11:06am
Quoting posterboy
TRADING CAN BE SO SIMPLE..I JUST SAW THAT 2 DAY ....GREAT SALUTE....BUT ONE SMALL QUESTION FOR YOU? DOES THE SAME STRATEGY APPLY FPR gold TRADING....I TRIED I WITH GOLD IT TOOK 2 OF MY STOPS

Am not a gold trader so can't help you there, and don't want to phantom a guess. Check with Grashid, he trades XAU quite a bit.

And trading can be very simple, how do you imagine any of the old boys ever made any money?
  • #242,416
  • Aug 2, 2010 11:08am Aug 2, 2010 11:08am
Range broken, taken my profit of that last dip. Am done hogging the thread for the day, promised 4X I would talk her through another day live after she had a chance to play with it a bit over the weekend.

Delivered.

So 4X how many pips on a Moody Monday?
Attached Image (click to enlarge)
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  • #242,417
  • Aug 2, 2010 11:13am Aug 2, 2010 11:13am
Quoting cloggie
You missed one inside TL that could have given you an earlier clue. Every time a TL disects a range it tends to from a wedge that is very tradeable. Zoom out a bit on your 15 and you'll see it. Below is roughly where she is.
OK .. I see it .. it looks like to get that angle you started at the high of Sunday. Why did you start there? i.e. do you always look at high or low of prev day for possible TL continuation on current day?
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 30 KB
******************* I'd rather make money than be right.
  • #242,418
  • Aug 2, 2010 11:13am Aug 2, 2010 11:13am
Quoting 4xStar
OK .. I see it .. it looks like to get that angle you started at the high of Sunday. Why did you start there? i.e. do you always look at high or low of prev day for possible TL continuation on current day?

No, the high of Friday, ignore the Sunday cr@p. Mine was only an estimate based on your cropped chart. Inside TL's are very powerful in a trend. I have had mine on the H4 for over 2 months and still use it.
  • #242,419
  • Aug 2, 2010 11:15am Aug 2, 2010 11:15am
Trading can be simple .....for the first time in my 2 yrs of on and off trading life i realize that all thanks to cloogs & 4 stars doc she left....short from friday was closed at 15693 took short from 15727 booked at 5703 long sl just below pivot and still riding 1 lot sl moved 5830..all thanks again to cloogs indi can go out of my chats just left ema's
We cannot direct the winds but we can adjust our sail.
  • #242,420
  • Aug 2, 2010 11:15am Aug 2, 2010 11:15am
http://i173.photobucket.com/albums/w...8/gbpusdh4.gif

please help me. I just lost 40 $ what i can do now
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