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Cable Update (GBPUSD)

  • #250,001
  • Aug 31, 2010 5:51am Aug 31, 2010 5:51am
Quoting zameer
i close my long at 1.5429 +19 pip .................

Congrats something is better than nothing.......

Just add up all those 'small pip profits' and you'll end up with a good 'big profit' hopefully
  • #250,002
  • Aug 31, 2010 5:53am Aug 31, 2010 5:53am
Quoting pawpaw1000
Summer trading is sooo crappy!
contrare, have really enjoyed it, although admittedly my first with a 'real money account' , but still good fun and good for learning too
  • #250,003
  • Aug 31, 2010 5:55am Aug 31, 2010 5:55am
Quoting iqyu5an
me too ... add long @ 5421
how about your TP ??

wait for US sesion to take cable fly, thighten your seatbelt
  • #250,004
  • Aug 31, 2010 5:55am Aug 31, 2010 5:55am
Quoting AdrianHNV
Congrats something is better than nothing.......

Just add up all those 'small pip profits' and you'll end up with a good 'big profit' hopefully
yes i usually dont go 4 the big ones............ bcoz i m still a beginner
  • #250,005
  • Aug 31, 2010 5:57am Aug 31, 2010 5:57am
I have been short from 437 for a while now. Stop above the trend line currently at 445. Looking for new lows unless negative US data comes later
  • #250,006
  • Aug 31, 2010 5:57am Aug 31, 2010 5:57am
Am I the only one looking at the H&S? There's a confluence of fibs leading to possibly a butterfly.
Attached Image
  • #250,007
  • Aug 31, 2010 5:59am Aug 31, 2010 5:59am
Quoting zameer
yes i usually dont go 4 the big ones............ bcoz i m still a beginner

I don't usually go for the big one's either.......... Too much too loose!!!!!

Little ones are best, then once target reached for the day, close account and if need bee go onto a practice account or a ''''''gaming account'''' for the rest of the day, mind you there is always gardening to do
  • #250,008
  • Aug 31, 2010 6:01am Aug 31, 2010 6:01am
Quoting digger1
lol, keeping that heart rate up keeps you young ha ha
Then how come I look so old and tired? My eyes are square shaped, like the monitor they are forced to stare at, and I have a permanent crease in my forehead from frowning while I squint at the same square inch of the screen showing the GBPUSD price. In the night I see little flashes of green and red in my dreams.

I prefer going for a run to keep the heart rate up, at least you feel better afterwards.

She's making another downward attempt, nerves are jangling, back to squinting at the price...
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #250,009
  • Aug 31, 2010 6:02am Aug 31, 2010 6:02am
Quoting zameer
yes i usually dont go 4 the big ones............ bcoz i m still a beginner
Small profits ok if you do not let losing positions go too far.
My problem before was make profits but could not control my self in the losing side and one bad trade used to eat up many small.
Caution is the word. Happy trading
  • #250,010
  • Aug 31, 2010 6:02am Aug 31, 2010 6:02am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting samirb
Good day,

i m expecting it ll retest ltl or closer at london open before falling more

Good luckhttp://cdn.forexfactory.com/images/s...m/thumbsup.gif
Attached Thumbnails
current chart

Very nice, hope that you added your shorts there mate

good luck to all
  • #250,011
  • Aug 31, 2010 6:03am Aug 31, 2010 6:03am
Quoting trending
Am I the only one looking at the H&S? There's a confluence of fibs leading to possibly a butterfly.
Not likey all these names...... We have Bulls, Bears and Butterflies......

where do the Bees come into the equation
  • #250,012
  • Aug 31, 2010 6:04am Aug 31, 2010 6:04am
There is nothing long yet....she's really depressed for being rejected multiple times overhead... hugging the floor for now...
Attached Image (click to enlarge)
Click to Enlarge Name: H1.gif Size: 12 KB
Hear the music before the song is over ...
  • #250,013
  • Aug 31, 2010 6:05am Aug 31, 2010 6:05am
Quoting dashboard
i take long @ 1.5419, TP = 1.548, SL = (adjust later)
Having no stop loss or moving your stops is one of the most dangerous things a trader can do so then why do so many of them do it? It’s because of one of two reasons. Either its because they are so fearful of taking a loss that they keeping moving the stop back in the hopes that the market will turn and they can get out at breakeven, or its because they are so sure in their ability to predict the market that they move their stop because they just know that if they give the trade enough time eventually it will work out. Unfortunately 99% of the time both of these traders are wrong and are left huge holes in their trading accounts.

To avoid the above scenario all you have to do is stick to your stops. You need to realize that they are there to protect you from losing more than you can afford. That’s why they are called stop losses because they are designed to stop you from losing more than you are willing to, and when you move them after you are already in a trade because of your emotions then you are defeating the purpose of using a stop at all.

So do yourself a favour, when you set a stop do not move it under circumstances unless you are moving it up to trail a winning position. Trust me your trading account will thank you.

Original piece at http://www.forexcrunch.com/a-little-...rading-career/

Note: Some scalpers do not use SLs, but then again if they see price move 5 or 10 pips against them they will close the losing position and look for the next setup.

Good luck with your trade
  • #250,014
  • Aug 31, 2010 6:05am Aug 31, 2010 6:05am
Quoting AdrianHNV
Not likey all these names...... We have Bulls, Bears and Butterflies......

where do the Bees come into the equation
Forex is a Beesness.
  • #250,015
  • Aug 31, 2010 6:06am Aug 31, 2010 6:06am
don't see adding long now as a safe trade.
the monthly pvp is being severely tested & there is no bounce or reversal whatsoever yet to suggest that it could turn here. htf are still showing shortside.

good luck
Thank You
  • #250,016
  • Aug 31, 2010 6:08am Aug 31, 2010 6:08am
Quoting bbakker
Having no stop loss or moving your stops is one of the most dangerous things a trader can do so then why do so many of them do it? It’s because of one of two reasons. Either its because they are so fearful of taking a loss that they keeping moving the stop back in the hopes that the market will turn and they can get out at breakeven, or its because they are so sure in their ability to predict the market that they move their stop because they just know that if they give the trade enough time eventually it will work out. Unfortunately 99% of the time...
thanks for advise bro.....

i will cut loss when 1h candle close more low from 1.5395
  • #250,017
  • Aug 31, 2010 6:08am Aug 31, 2010 6:08am
Here is USDX H1. Took a bounce off support and retesting now. What next?
Attached Images
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #250,018
  • Aug 31, 2010 6:17am Aug 31, 2010 6:17am
Quoting bbakker
Having no stop loss or moving your stops is one of the most dangerous things a trader can do so then why do so many of them do it? It’s because of one of two reasons. Either its because they are so fearful of taking a loss that they keeping moving the stop back in the hopes that the market will turn and they can get out at breakeven, or its because they are so sure in their ability to predict the market that they move their stop because they just know that if they give the trade enough time eventually it will work out. Unfortunately 99% of the time...
Afternoon Everyone!

Very true - I learnt my lesson doing that!

As for scalping - I'm the one who usually gets scalped!!!.....However I have managed 2 successful scalps this morning.
  • #250,019
  • Aug 31, 2010 6:19am Aug 31, 2010 6:19am
Quoting Precap2
Here is USDX H1. Took a bounce off support and retesting now. What next?
USDX is only 11.9% GBP...

something to think about!
Hear the music before the song is over ...
  • #250,020
  • Aug 31, 2010 6:22am Aug 31, 2010 6:22am
Quoting wormboy
don't see adding long now as a safe trade.
the monthly pvp is being severely tested & there is no bounce or reversal whatsoever yet to suggest that it could turn here. htf are still showing shortside.

good luck
Personally I'm only looking for about 1.5480, on the basis that I see a completed Elliott Wave 5-down and the A & B waves of the ABC correction. Provided price does not break 1.5395, I'll stay in. I'm probably completely full of sh*t, but it won't hurt much if I am. It felt like a reasonable gamble to take.

Are the CAD GDP numbers likely to affect GU and if so what is the relationship?
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
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