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Cable Update (GBPUSD)

  • #252,001
  • Sep 9, 2010 11:40am Sep 9, 2010 11:40am
Quoting 4xStar
I've been trying to get the foil hat off of gammase, but he's a stubborn one ...
  • #252,002
  • Sep 9, 2010 11:43am Sep 9, 2010 11:43am
Quoting cloggie
What brain?
hehe... so they did have a sense of humour back in the 30's...

Seriously, anyone see some action tonight? would love to catch another 30 - 50 pips...

Otherwise, back to my conspiracy vids on youtube...
@pawpaw1000 on Twitter
  • #252,003
  • Sep 9, 2010 11:44am Sep 9, 2010 11:44am
if there is no action on PA,

watch this and tell me what you think... a compilation of all the "KOOKS"...

Inserted Video


WELL, JUST AS I SAY THAT WE SPIKE 6 PIPS!!! WOHOO... BREAK OUT THE CHAMPAGNE!!!
@pawpaw1000 on Twitter
  • #252,004
  • Sep 9, 2010 11:47am Sep 9, 2010 11:47am
Quoting pawpaw1000
hehe... so they did have a sense of humour back in the 30's...

Seriously, anyone see some action tonight? would love to catch another 30 - 50 pips...

Otherwise, back to my conspiracy vids on youtube...
Just closed out my last trade for NY short for 30...

Support here on the M30, 15, 5...will wait for Rollover now and see whatsa shaking.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,005
  • Sep 9, 2010 11:49am Sep 9, 2010 11:49am
Closed my short on that last surge downward, was in from 5469 so that's enough pips for me, don't want to hang around baby-sitting it. The garden is calling...
******************* I'd rather make money than be right.
  • #252,006
  • Sep 9, 2010 11:53am Sep 9, 2010 11:53am
Quoting 4xStar
Closed my short on that last surge downward, was in from 5469 so that's enough pips for me, don't want to hang around baby-sitting it. The garden is calling...
well, I believe in working hard for your money and so I'm up 12 pips and will stick here until I get atleast 30!!!

changed TP to 5408... don't see us reaching 5385 with this PA!!!
@pawpaw1000 on Twitter
  • #252,007
  • Sep 9, 2010 12:06pm Sep 9, 2010 12:06pm
Quoting pawpaw1000
well, I believe in working hard for your money and so I'm up 12 pips and will stick here until I get atleast 30!!!

changed TP to 5408... don't see us reaching 5385 with this PA!!!
if you want to scalp, learn to do it right my friend.
before you look to the cluster support @5408 as your tp, draw a line across 5430 & look back to the 8th of September. Guess where the previous hour's doji formed ..
Thank You
  • #252,008
  • Sep 9, 2010 12:10pm Sep 9, 2010 12:10pm
Quoting wormboy
if you want to scalp, learn to do it right my friend.
before you look to the cluster support @5408 as your tp, draw a line across 5430 & look back to the 8th of September. Guess where the previous hour's doji formed ..
Yeah, see that but as long as I have BE I want to hold for 30 pips... I'm not a scalper, traded the break of the "box"...
@pawpaw1000 on Twitter
  • #252,009
  • Sep 9, 2010 12:15pm Sep 9, 2010 12:15pm
Quoting pawpaw1000
well, I believe in working hard for your money and so I'm up 12 pips and will stick here until I get atleast 30!!!

changed TP to 5408... don't see us reaching 5385 with this PA!!!
Thanks to the lousy PA and small trading range within the consolidation , I actually made more pips today with my " dustbin trades " than my bread-and butter swing trades. +104 v +75 , hopefully we will see a breakout during my lifetime
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_02 Sep. 09 21.07.jpg Size: 114 KB
" Never let the past hold the future to ransom "
  • #252,010
  • Sep 9, 2010 12:15pm Sep 9, 2010 12:15pm
Quoting pawpaw1000
Yeah, see that but as long as I have BE I want to hold for 30 pips... I'm not a scalper, traded the break of the "box"...
Double your lot size...decrease your pip target and make your dough faster.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,011
  • Sep 9, 2010 12:19pm Sep 9, 2010 12:19pm
Quoting pawpaw1000
Yeah, see that but as long as I have BE I want to hold for 30 pips... I'm not a scalper, traded the break of the "box"...
you are going for 30 pips, on ny market hours with the rest closed. you are scalping.
Even if you traded the ltf breakout, you should have the minor supp/res levels on your chart. Else, you'll just be trading blind. Holding out for that 30 pips will no longer be tactical, it'll just be hoping
Thank You
  • #252,012
  • Sep 9, 2010 12:26pm Sep 9, 2010 12:26pm
Quoting wormboy
you are going for 30 pips, on ny market hours with the rest closed. you are scalping.
Even if you traded the ltf breakout, you should have the minor supp/res levels on your chart. Else, you'll just be trading blind. Holding out for that 30 pips will no longer be tactical, it'll just be hoping
AAh, well, I have been doing this nightly with some success but I must agree you are right. Got stopped BE but my problem is if my s/l is 10 pips and my t/p is 10 then I'm not sure whether I'll have the same success as now. Thats why I have s/l of 10 and tp of 30 at least to give me 3 to 1 with s/l to be asap...

Magix, I see what you are saying and I've thought of that but doubling profits also means doubling losses. Whats your view on that, maybe you could help me out with this?

I have now made 8% on my live account with this being my 3rd week. I only trade about 1 and 1/2 days per week so am pretty stoked but maybe need to think about making these NY trades scalps and so shorter t/p but higher value?
@pawpaw1000 on Twitter
  • #252,013
  • Sep 9, 2010 12:31pm Sep 9, 2010 12:31pm
Quoting pawpaw1000
AAh, well, I have been doing this nightly with some success but I must agree you are right. Got stopped BE but my problem is if my s/l is 10 pips and my t/p is 10 then I'm not sure whether I'll have the same success as now. Thats why I have s/l of 10 and tp of 30 at least to give me 3 to 1 with s/l to be asap...
you need to learn to be flexible. Having a fixed 3:1 ratio on all taken trades will only work under certain market conditions, not all.
Look at it this way, you keep moving trades to bep like the last one you took. You can have 5 of those bep trades in a night & 1 losing 10 pip trade right after, you'll still end up in a loss. Do not move to bep and hold out trades blindly, there are times where you have to take profit earlier, take it.
Thank You
  • #252,014
  • Sep 9, 2010 12:36pm Sep 9, 2010 12:36pm
Quoting wormboy
you need to learn to be flexible. Having a fixed 3:1 ratio on all taken trades will only work under certain market conditions, not all.
Look at it this way, you keep moving trades to bep like the last one you took. You can have 5 of those bep trades in a night & 1 losing 10 pip trade right after, you'll still end up in a loss. Do not move to bep and hold out trades blindly, there are times where you have to take profit earlier, take it.
yeah, but what happens then is when I become afraid or nervous I close winners short! I'm hoping it'll come with time...

maybe scalp gbp jpy in late night session on demo to practise?
@pawpaw1000 on Twitter
  • #252,015
  • Sep 9, 2010 12:37pm Sep 9, 2010 12:37pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
More consolidation before re-test of 1.6000 levels?
60 and 200 DMA providing solid support zone.
RSI hovering around 50 and stoch crossing up from under 20.
See chart.
Attached Image (click to enlarge)
Click to Enlarge Name: daily.gif Size: 40 KB
Being right is one, taking it from the table is two.
  • #252,016
  • Sep 9, 2010 12:40pm Sep 9, 2010 12:40pm
Quoting pawpaw1000
Magix, I see what you are saying and I've thought of that but doubling profits also means doubling losses. Whats your view on that, maybe you could help me out with this?

I have now made 8% on my live account with this being my 3rd week. I only trade about 1 and 1/2 days per week so am pretty stoked but maybe need to think about making these NY trades scalps and so shorter t/p but higher value?
Some nice gains there paw...

I think your trading has been going awesome. I try to keep eyes on a lot of traders, see where they have come from and where they are heading to and I think you are most certainly lined up for greatness, no questions.

After the London bells close, NY may or may not want to play, so, if you find yourself wanting to take a trade, have an idea of what you want to see, of course still play according to your charts, double up on your lot sizes, kill one for half your target set sl to BE on the other. You can still walk away with a few sheckles even if you don't gain the full range of trade.

Really, you have done well with trading off your charts, increasing your lot size will assist you in growing your account faster. If you are consistent enough with 1 lot, it will be the same with a second lot. Build your MM strategy as you have built your confidence with your chart.

Lastly...It is your money. IF you are comfortable enough trading with what you got and are happy with what you get, don't let anybody try talk you into something else. That comfort zone is what will keep your emotions at bay and allow you to continue your success.

Seriously my friend, all well wishes for ya.

And I believe you are not only a great example of what can be done, but a Grand example of how it can. Take each day as they come, learn what you can and profit when you see opportunity.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,017
  • Sep 9, 2010 12:48pm Sep 9, 2010 12:48pm
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting Gleneagles
, hopefully we will see a breakout during my lifetime
Being right is one, taking it from the table is two.
  • #252,018
  • Sep 9, 2010 12:50pm Sep 9, 2010 12:50pm
hi all

happy eid

3eed mobarak


all went great we hit the lows of yesterday happy with pa,

hope u are all in green

i am trying to figer the S10 chart with ema's it looks cool need to test

best of luck to all
  • #252,019
  • Sep 9, 2010 12:51pm Sep 9, 2010 12:51pm
Quoting pawpaw1000
yeah, but what happens then is when I become afraid or nervous I close winners short! I'm hoping it'll come with time...

maybe scalp gbp jpy in late night session on demo to practise?

if you did this earlier ...

Quoting wormboy
if you want to scalp, learn to do it right my friend.
before you look to the cluster support @5408 as your tp, draw a line across 5430 & look back to the 8th of September. Guess where the previous hour's doji formed ..
and you flipped over to the m5 you'd see a hammer formed or the m15 you'd see a doji formed 2 pips off 5430. you can then decide if you'd want to bank your profits or at least move your trade into profit, say 10 pips, that way you'll end up with a 1:1 win loss ratio regardless. Don't worry about closing out the trade too soon, happens all the time, it's way better than to watch your trade being in profit and then you end up with nothing, or worse ... a loss.
Thank You
  • #252,020
  • Sep 9, 2010 12:53pm Sep 9, 2010 12:53pm
Quoting kill56
hi all

happy eid

3eed mobarak


all went great we hit the lows of yesterday happy with pa,

hope u are all in green

i am trying to figer the S10 chart with ema's it looks cool need to test

best of luck to all
eid mubarak brother
Thank You
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