Cable Update (GBPUSD) | Page 12531 | 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)

  • #250,601
  • Sep 2, 2010 8:47am Sep 2, 2010 8:47am
  •  zigizum
  • | Joined Aug 2010 | Status: Not in a hurry too blow my account | 52 Posts
Quoting cloggie
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.

Like your ideas mate.

Respect!

Ill let you know when my first 33 goes throu...

Btw, got out of my long +3. Still short...
  • #250,602
  • Sep 2, 2010 8:48am Sep 2, 2010 8:48am
Quoting zameer
here it is i have a dirty chart !!!
hmmmmmmmmmm lots of lines on that chart.
  • #250,603
  • Sep 2, 2010 8:49am Sep 2, 2010 8:49am
Quoting zameer
here it is i have a dirty chart !!!
holly cow..thats an obstacle course but if it works thats what matters
  • #250,604
  • Sep 2, 2010 8:50am Sep 2, 2010 8:50am
Long 5366
  • #250,605
  • Sep 2, 2010 8:50am Sep 2, 2010 8:50am
Quoting zameer
ok let me try.........
cheers is good practice to post charts. makes it easier to discuss our thoughts.

Quoting cloggie
I am pretty sure that he was answering Pipchicks first question and not disagreeing with her chart.
you're right. misread his response.


Quoting nAVIN2007
if this isnt good support i dont know what is..
hey Nav!

watching same area. still think we have a bit more to drop before the next bounce.
  • #250,606
  • Sep 2, 2010 8:50am Sep 2, 2010 8:50am
Quoting Gbp/usd
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...
Welcome to the asylum and congrats on your success.

Hope to see you share in what you have learned of the market and how it applies to GBP/USD with others.

All the best into the close of the week.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #250,607
  • Sep 2, 2010 8:50am Sep 2, 2010 8:50am
Quoting zameer
here it is i have a dirty chart !!!
Whats dirty about it? Perhaps messy in some peoples opinion but it looks ok to me . Well done, i still cant do it
All systems of divination, like music itself,work through patterns.
  • #250,608
  • Sep 2, 2010 8:51am Sep 2, 2010 8:51am
Quoting PipChick
hmmmmmmmmmm lots of lines on that chart.

Yup, and Zameer you are missing the 3 that should be staring you in the face:

In white.

When I start the morning, I find my handful of pairs that could be of interest for the day's trading, I then have a look at the fundamentals to see what is happening and where the strengths and weaknesses are, I then look at the correlated pairs and other instruments for confirmation of that thought process. I then find my intraday trends and list my SR's in order of importance, I grade them on what interaction I would suspect around them. I use TL's, Fibs, SR's and pivots for those. That's how I build my trading day.
Attached Image (click to enlarge)
Click to Enlarge Name: Zameer's chart.gif Size: 42 KB
  • #250,609
  • Sep 2, 2010 8:51am Sep 2, 2010 8:51am
Quoting PipChick
hmmmmmmmmmm lots of lines on that chart.
Etch a Sketch version of Meta 4?

Just a jest, nobody get all bent outa shape...

lol.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #250,610
  • Sep 2, 2010 8:51am Sep 2, 2010 8:51am
Quoting PipChick
hmmmmmmmmmm lots of lines on that chart.
the last bottom red like which cable just break i suppose it was a support after which 1.5330 is the good support what you say ???
  • #250,611
  • Sep 2, 2010 8:52am Sep 2, 2010 8:52am
Quoting zameer
here it is i have a dirty chart !!!
zameer ..

holding a 200 pips drawdown before a confirmed reversal is suicidal.
Do the right thing.

Good luck.
Thank You
  • #250,612
  • Sep 2, 2010 8:55am Sep 2, 2010 8:55am
Quoting PipChick
Cable update:
Zam...look at this previous post. News coming out shortly.
  • #250,613
  • Sep 2, 2010 8:56am Sep 2, 2010 8:56am
Quoting wormboy
zameer ..

holding a 200 pips drawdown before a confirmed reversal is suicidal.
Do the right thing.

Good luck.

Ah sh!t, I didn't even see that until you pointed it out. You seem to close your trades at 10-20 pips so you would need anything upto 20 consecutive winners to make up for that one.

Another thing, using volume in MT4 is a bit like a chocolate teacup, just about as useful. It just shows what your broker has for its volume, so unless you own shares in your broker and it is listed, not really of much use in trading.

In general you seem to suffer from what most "newer" traders suffer from, information overload, hard to see what price is doing with that much stuff on your charts that has no relation to where price currently is.
  • #250,614
  • Sep 2, 2010 8:57am Sep 2, 2010 8:57am
Quoting zameer
here it is i have a dirty chart !!!

For MT4 If you open properties for you trendlines and unmark option for "ray" .
Your chart will look much more beautiful
  • #250,615
  • Sep 2, 2010 8:58am Sep 2, 2010 8:58am
re support/resistance debate above:

You gotta try and figure out where the big money might enter the market, ie it does so on the 1hr chart +....not for example at lower t/f ma's etc...

If playing sub 1hr Mark on a 1hr chart where the obvious near-term previous imbalances of demand/supply and supply/demand are...mark too where these resulting fractal swing lo or hi's are co-existant on the 4hr...then add in relevant fibs and trend lines and you can then spot the potential support/resistance/sbr/rbs quite quickly. If playing on a 1hr trigger do the same for a 4hr/daily combo etc...

Current 1hr chart is below,,...see the near term demand that occurred at the ascending trend line and the previous support that became resistance on the retest as examples.

http://www.easy-upload.net/fichiers/z.201092155749.gif


G/L
ex member
  • #250,616
  • Sep 2, 2010 9:02am Sep 2, 2010 9:02am
Quoting desi99
sorry, stupid question but what is BE ?
BE breakeven
TP take profit
SL stop loss
  • #250,617
  • Sep 2, 2010 9:04am Sep 2, 2010 9:04am
Quoting zameer
here it is i have a dirty chart !!!

dude.

didn't realize you're 200 P draw down. you never know how low price can drop until it gets there. support gets broken all the time.

taking losses is part of the business, taking huge losses puts you out of business.
  • #250,618
  • Sep 2, 2010 9:04am Sep 2, 2010 9:04am
Zameer, here is my bigger picture asschart with the larger TF levels to watch. This is H4, and the next level to go (5348) will open the way for a nice long drop, one that would start to worry Navin to no end....

Having a picture in your mind of the larger TF levels gives you an indication of where the big boys are going, just like bbmac said above.

The big boys play the big game, they are not out to scalp a few pips here and there, having an understanding of the bigger picture would make your trading so much more profitable.

The one function often neglected on MT4 is the zoom out button, use it constantly to give you a better picture of what is going on around you.
Attached Image (click to enlarge)
Click to Enlarge Name: asschart september.gif Size: 18 KB
  • #250,619
  • Sep 2, 2010 9:07am Sep 2, 2010 9:07am
Quoting cloggie
Ah sh!t, I didn't even see that until you pointed it out. You seem to close your trades at 10-20 pips so you would need anything upto 20 consecutive winners to make up for that one.

.
I hope he decides to close the trade before nfp tomorrow. That -200 pips can easily be -400 by then. Playing with fire this ...
Thank You
  • #250,620
  • Sep 2, 2010 9:11am Sep 2, 2010 9:11am
320-300 could be the last buying support...

clear break this area will bring her to 240 - to Bull Bear target 190
Verily, in every difficulties there is relief
336 traders viewing now