Cable Update (GBPUSD) | Page 12530 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

GBP/USD

Similar Threads

Cable Update - Continued 118 replies

Cable Update (GBP/USD) without Idiots 25 replies

cable short for gbpusd? 10 replies

Why is GBPUSD called cable? 76 replies

Cable (GBPUSD) vs Euro (EURUSD) 31 replies

Attachments: Cable Update (GBPUSD)
Exit Attachments

Cable Update (GBPUSD)

  • #250,581
  • Sep 2, 2010 8:14am Sep 2, 2010 8:14am
what is the next rock solid support for cable ???
  • #250,582
  • Sep 2, 2010 8:16am Sep 2, 2010 8:16am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting zameer
what is the next rock solid support for cable ???

I see it at 1,5385-92

long from 64-84, waiting for TP SL at 54
  • #250,583
  • Sep 2, 2010 8:21am Sep 2, 2010 8:21am
Quoting zigizum
I see it at 1,5385-92

long from 64-84, waiting for TP SL at 54
i have a short at 1.5394.......... not sure where to close
  • #250,584
  • Sep 2, 2010 8:23am Sep 2, 2010 8:23am
Quoting zigizum
I see it at 1,5385-92

long from 64-84, waiting for TP SL at 54

I am not going to question your strategy, well a bit maybe. Why CT an obvious bear day, would it not be a lot easier and more profitable to short the retraces, look at the whole day the only long opportunities so far have been the opens and the news, the retraces have been tiny and laborous while the moves down have had good momentum and would have been more profitable.

Why the bulk of traders here take so much pride and pleasure in countertrading and picking the bottoms I will never understand.
  • #250,585
  • Sep 2, 2010 8:23am Sep 2, 2010 8:23am
Quoting zameer
i have a short at 1.5394.......... not where to close
Do you know how to find S & R?

I posted some charts earlier today with major S and R
  • #250,586
  • Sep 2, 2010 8:24am Sep 2, 2010 8:24am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting zameer
i have a short at 1.5394.......... not sure where to close

Yes...overall im also short from 1.5445 and 1,5394...leave it running i guess...BE is right solution i guess
  • #250,587
  • Sep 2, 2010 8:26am Sep 2, 2010 8:26am
Quoting PipChick
Do you know how to find S & R?

I posted some charts earlier today with major S and R
not very accurately ............................
  • #250,588
  • Sep 2, 2010 8:26am Sep 2, 2010 8:26am
Quoting zigizum
Yes...overall im also short from 1.5445 and 1,5394...leave it running i guess...BE is right solution i guess

Instead of setting BE at each and every trade, why don't you make sure you get paid first, use a 50/50 or 33/33/33 strategy, take some money of the table then run the rest, find the "fat" part of your trade get paid and run the rest on the skinny end.
  • #250,589
  • Sep 2, 2010 8:30am Sep 2, 2010 8:30am
Been trading simulation for 2 years with dbfx then opened an account with them in February. Nice market maker, and good with money in general.

anyway i only trade the gbp/usd so this thread is ideal for me.

Now this week Monday 30th (UK bank holiday) until Thursday 2nd i have made 243.3 pips in profit and lost about 30 pips in general. I did not trade on Wednesday, as i try to leave one day for observation only, watching the market move. I believe the secret to this industry is good money management and timing. I would like to thank the forex factory for their calender which has been so helpful in my planning and evacuation of trades.

I hope to be here long. thanks.
Our beliefs are based on logic and the pursuit of clearity.
  • #250,590
  • Sep 2, 2010 8:33am Sep 2, 2010 8:33am
Quoting zameer
not very accurately ............................
how about posting a chart to show us where you think support is if you disagree.
  • #250,591
  • Sep 2, 2010 8:35am Sep 2, 2010 8:35am
Quoting Fudomyo
how about posting a chart to show us where you think support is if you disagree.
if this isnt good support i dont know what is..
  • #250,592
  • Sep 2, 2010 8:37am Sep 2, 2010 8:37am
Quoting Fudomyo
how about posting a chart to show us where you think support is if you disagree.
ok let me try.........
  • #250,593
  • Sep 2, 2010 8:38am Sep 2, 2010 8:38am
Quoting Fudomyo
how about posting a chart to show us where you think support is if you disagree.

I am pretty sure that he was answering Pipchicks first question and not disagreeing with her chart.

Quoting PipChick
Do you know how to find S & R?
Quoting zameer
not very accurately ............................
  • #250,594
  • Sep 2, 2010 8:39am Sep 2, 2010 8:39am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting cloggie
Instead of setting BE at each and every trade, why don't you make sure you get paid first, use a 50/50 or 33/33/33 strategy, take some money of the table then run the rest, find the "fat" part of your trade get paid and run the rest on the skinny end.


Yes, never did use 33/33/33 strategy...ill try it for sure...

otherwise like retrace also...ussualy try to add up position around 61,8 retrace?
  • #250,595
  • Sep 2, 2010 8:39am Sep 2, 2010 8:39am
Pulled short here for want of a better thing to do. looking for 40-50pips and I'm out of it. Being careful not to deploy much troop, something is going to happen in usd/chf and gbp/chf that might need heavy troop deployment.
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #250,596
  • Sep 2, 2010 8:41am Sep 2, 2010 8:41am
Quoting cloggie
I am pretty sure that he was answering Pipchicks first question and not disagreeing with her chart.
yes, he just meant he couldnt find S & R accurately.
  • #250,597
  • Sep 2, 2010 8:41am Sep 2, 2010 8:41am
Quoting Fudomyo
how about posting a chart to show us where you think support is if you disagree.
the print screen which i take is too heavy 2.63mb how i made it lighter ?
  • #250,598
  • Sep 2, 2010 8:42am Sep 2, 2010 8:42am
Quoting zigizum
Yes, never did use 33/33/33 strategy...ill try it for sure...

otherwise like retrace also...ussualy try to add up position around 61,8 retrace?

On a good entry you take 1/3 at the fat part of the trade, the momentum bars, 1/3 at your initial target of major support and let the last third run to wherever it takes you. If you want to add to trades on retraces keep in mind Cable loves the 50.

The whole point of trading is getting paid and you would be surprised how many traders here forget about that and let a profitable trade turn red on them or end up at BE.
  • #250,599
  • Sep 2, 2010 8:42am Sep 2, 2010 8:42am
Quoting zameer
the print screen which i take is too heavy 2.63mb how i made it lighter ?

You using MT4?
  • #250,600
  • Sep 2, 2010 8:45am Sep 2, 2010 8:45am
Quoting Fudomyo
how about posting a chart to show us where you think support is if you disagree.
here it is i have a dirty chart !!!
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 37 KB
320 traders viewing now