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Cable Update (GBPUSD)

  • #247,681
  • Aug 20, 2010 11:47am Aug 20, 2010 11:47am
I personally never really started too make any significant gains until I open a 'real account' with my own money.

I still remember the very first trade with my own money that I did.

My hands were sweating and trembling and my heart was thumping, especially as even though it was only $100 account it was my hard earned money, not a 'dummy or game account'. Needless to say I made a few mistakes and yes added to it along the way. But for the past 3 months or so, I have developed my own trading method which I 'tweek' on a regular basis, by keeping notes and re-reading them usually at the weekends.

I have come a long way since my first trade and hope one day to be able to call myself a successful and profitable 'day trader - forex trader'....on a regular basis.

Mouse just keep learning and you too will I'm sure get there.

There are those that try and give up and there are those that keep trying and succeed.

regards

Adrian
  • #247,682
  • Aug 20, 2010 11:48am Aug 20, 2010 11:48am
Quoting 4xStar
With a 10k account, I have a suggestion .. trade as if it were a $1k account, i.e. never more than 2 mini lots open....
Thank you for the help.. So far I am up $1370 this month... Today morning I was up over $2k but then after London open i went long then short then long then lost patience then played big lots.ghosh.. lost money..

I started trading 5 mini lots.. after I made $400 I increased the lot.. I have been lucky this month because all the profit came from counter trend plays and quick scalping..I know this is not sustainable...Your suggestion is a good one... I never thought about it that way, treating 10k as 1k and that makes you play small size.. i will definitely try that..

Actually I increased the lot size because I took this money by doing a balance transfer from my credit card ( 0% for 12 months) . so i was in a hurry to make the money to pay back the card to keep my credit history strong.. But i need to be patient.... I get really upset when i start loosing money in couple trades... I try to get it back the same day and get into more trouble.. Thats what happened today... Anyway thanks for thelp..
  • #247,683
  • Aug 20, 2010 11:49am Aug 20, 2010 11:49am
Also adding to my other post.

I learned not too be too greedy on a daily basis,,,,,,,,

Don't worry about those on here posting there + 200 pips set your own daily targets, and stick too them, do not over-trade. best way too loose an account.

I would much rather make + 10 pips a day every day than some and some......
  • #247,684
  • Aug 20, 2010 11:50am Aug 20, 2010 11:50am
bit of a anti climax after the week we've had...

great french summer, not gonna waste it watching paint dry...

Thanks for the week, I'm off for some wine, beef and a cigarette
@pawpaw1000 on Twitter
  • #247,685
  • Aug 20, 2010 11:51am Aug 20, 2010 11:51am
Quoting cloggie
This travelling salesman knocks on a farm's door and a little boy opens up, the salesman asks for the boys mother and the boy tell sthe salesman his mom is not home, she has died. The salesman apologises and asks for the boys father, the little boy tells the salesman that his father has died too, to what the salesman asks, what had happened. The boy replied that both had died in tractor accidents. The salesman asks if any other family member is there and the boy says, my Grandma was here earlier, so the salesman asks where is grandma now and the...

Keep a close watch on that young son of yours and your John Deere.

Applied to the forex as this story goes, 'my John Deere' is needing a
steering overhaul, after running over a daddy account, a mommy
account and even a granny account. Fortunately all of my children
and grandchildren stay far away from gramps and his hobby tractor. LOL

Dr. D.
  • #247,686
  • Aug 20, 2010 11:51am Aug 20, 2010 11:51am
Quoting pawpaw1000
bit of a anti climax after the week we've had...

great french summer, not gonna waste it watching paint dry...

Thanks for the week, I'm off for some wine, beef and a cigarette
Take care and have fun......


Thanks for all your work this week. most appreciated
  • #247,687
  • Aug 20, 2010 12:00pm Aug 20, 2010 12:00pm
If the price can get past the 5 min 200 ema, I reckon we can see 15550 and the completion of the bear flag.
  • #247,688
  • Aug 20, 2010 12:04pm Aug 20, 2010 12:04pm
Quoting fourxtrader
Keep a close watch on that young son of yours and your John Deere.

Applied to the forex as this story goes, 'my John Deere' is needing a
steering overhaul, after running over a daddy account, a mommy
account and even a granny account. Fortunately all of my children
and grandchildren[i][color=#0000ff]...
lol, funniest thing you will ever see doc , my 5 year old driving one of the big ones , cant reach the pedals , feet dont reach the floor but ah he he can wheel it alrite , 500 horses under the hood 36 foot wide culivater saves me a lot of time for sure , but yea, need a big field with no electric poles or buildings ha ha
  • #247,689
  • Aug 20, 2010 12:17pm Aug 20, 2010 12:17pm
Well folks...its that time of day on a Friday

for a CRUNCHY.......

I think for once I deserve it,,,,,,,,

Buzzzing off now...... Have a good weekend everyone
  • #247,690
  • Aug 20, 2010 12:30pm Aug 20, 2010 12:30pm
Quoting digger1
lol, funniest thing you will ever see doc , my 5 year old driving one of the big ones , cant reach the pedals , feet dont reach the floor but ah he he can wheel it alrite , 500 horses under the hood 36 foot wide culivater saves me a lot of time for sure , but yea, need a big field with no electric poles or buildings ha ha

I'm sure he is harnessed and encased in a
safe cab with a/c and Sesame Street videos.

Dr. D.
  • #247,691
  • Aug 20, 2010 12:45pm Aug 20, 2010 12:45pm
If a 6 year old can trade forex

What are you grand fathers doing in here ???

Inserted Video
  • #247,692
  • Aug 20, 2010 12:51pm Aug 20, 2010 12:51pm
Quoting Nate04
Price has yet to break the 200 ema on the 4 hour chart (or close at least). Just something to keep in mind...
in the tf 4hr, third candle to the left closed below 200 ema at a price 1.5480 when ema200 was 1.5508. i ve ICM terminal mt4 feeds. yes price went above in second so its not a clear cross down below ema200 yet.
  • #247,693
  • Aug 20, 2010 12:52pm Aug 20, 2010 12:52pm
Quoting AdrianHNV
I personally never really started too make any significant gains until I open a 'real account' with my own money.

I still remember the very first trade with my own money that I did.

My hands were sweating and trembling and my heart was thumping, especially as even though it was only $100 account it was my hard earned money, not a 'dummy or game account'. Needless to say I made a few mistakes and yes added to it along the way. But for the past 3 months or so, I have developed my own trading method which I 'tweek' on a regular basis, by keeping...
welldone adrian, nice to see people starting to achieve good results, keeping solid trading records and notes, is a must to become successful. and like you say it takes a long long time.
good job.

looks like a false breakdown today, could indicate that we may be going long next week, not had time to go through the charts though. im off to pub, have a good week all!
  • #247,694
  • Aug 20, 2010 1:04pm Aug 20, 2010 1:04pm
Quoting ohan
in the tf 4hr, third candle to the left closed below 200 ema at a price 1.5480 when ema200 was 1.5508. i ve ICM terminal mt4 feeds. yes price went above in second so its not a clear cross down below ema200 yet.
That is what I was saying with the "or close at least" statement. Below is the chart I was looking at. It clearly crosses the 200 ema, but does not close below it.

Anyhow, it really doesn't matter to much now anyways, end of the week and all. Have a safe and happy weekend!
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 19 KB
  • #247,695
  • Edited 1:19pm Aug 20, 2010 1:05pm | Edited 1:19pm
Quoting digger1
lol, funniest thing you will ever see doc , my 5 year old driving one of the big ones , cant reach the pedals , feet dont reach the floor but ah he he can wheel it alrite , 500 horses under the hood 36 foot wide culivater saves me a lot of time for sure , but yea, need a big field with no electric poles or buildings ha ha
Good Luck to your 5-year old and you, Digger but Sun Tzu said," There will be chaos in the world when Fear disappears". The "baddest" thing the Parents of the World may have done is to throw away the Stick ! Now there is nothing to hold the Elephant back and keep him chained to his stake !

"Datta. Dayadhwaam. Damyat." Give. Sympathise. Control. When you relinquish control, the other two lose their cogency - the Cart may go out of control with potential to destroy YOUR happiness. The three together "balance" our world: the best made stool will fall over without the third leg! Could you trade Forex without discipline ?
  • #247,696
  • Aug 20, 2010 1:07pm Aug 20, 2010 1:07pm
Quoting forexlion
If a 6 year old can trade forex

What are you grand fathers doing in here ???

http://www.youtube.com/watch?v=3oHssQwCijI
shame on all of us
  • #247,697
  • Aug 20, 2010 1:08pm Aug 20, 2010 1:08pm
huh, 55 is a fib number?
  • #247,698
  • Aug 20, 2010 1:15pm Aug 20, 2010 1:15pm
Lion, are you still holding your long?
whwre is your stop loss?
  • #247,699
  • Aug 20, 2010 1:20pm Aug 20, 2010 1:20pm
Quoting vilas
Good Luck to your 5-year old and you, Digger but Sun Tzu said," There will be chaos in the world when Fear disappears". The "baddest" thing the Parents of the World may have done is to throw away the Stick ! Now there is nothing to hold the Elephant back and keep him chained to his stake !
well you dont need to worry about my kids , they are not being rasied by the TV, video games, or a babysitter , doesent mean they will be perfect but they damn sure will know they are accountable for their actions . This neck of the woods there is no passing the blame . Good or bad you done it, you accept the responsibility.
  • #247,700
  • Aug 20, 2010 1:44pm Aug 20, 2010 1:44pm
Quoting digger1
well you dont need to worry about my kids , they are not being rasied by the TV, video games, or a babysitter , doesent mean they will be perfect but they damn sure will know they are accountable for their actions . This neck of the woods there is no passing the blame . Good or bad you done it, you accept the responsibility.
you're implying videogames are bad...
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