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Cable Update (GBPUSD)

  • #252,021
  • Sep 9, 2010 2:56pm Sep 9, 2010 2:56pm
Quoting wormboy
eid mubarak brother

eid mubarak brother hope all u days are eid coloerd with green and great helth full of happenis
  • #252,022
  • Sep 9, 2010 2:57pm Sep 9, 2010 2:57pm
Quoting Magix
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...
Thanx Magix,

Means alot coming from you... I reckon I want one more week of profitable trade before stepping up the lots... Don't want to risk more than 3% of account though! Don't you think it would be better to throw in another 1k into my account and then watch how it goes with that?

Do another month profit and then add 5k giving me around 6k which then means growing account at around 7 - 15% pm will give me almost 1k per month which would be grand to grow my account. As you know, i don't have any responsibilities and can afford to lose the cash if I must but having grown as I have, I'd be positive that I could grow it to 10k by 8months...

Emotions are the big thing, you are right... I have found by cutting my losses short i am able to take 5 trades losing around 40 pips and then get one 100 pipper once in a while and I'm good to go...

Wondering whether my emotions will change with more money?

Many questions which still need to be answered. I'm really motivated to make a success of this within the next two years as i see things deteriorating in my country and would love to be able to earn foreign currency while living in SA...

thanks again and please keep the advise coming...

PS reckon it would be good, seeing as I have a 130$ account to maybe push risk up to 6% which then gives me a average tp of 18%?
@pawpaw1000 on Twitter
  • #252,023
  • Sep 9, 2010 2:59pm Sep 9, 2010 2:59pm
Quoting wormboy
if you did this earlier ...



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.
Thanks wormy, will definately bare this in mind as I fine tune my system before adding bigger doe!

please keep recommendations coming, need all the help i can get!
@pawpaw1000 on Twitter
  • #252,024
  • Sep 9, 2010 3:01pm Sep 9, 2010 3:01pm
Quoting kill56
eid mubarak brother hope all u days are eid coloerd with green and great helth full of happenis


hmm ... I am all happy on this great day no doubt, but I don't roll that way brother!

Enjoy the festivities kill
Thank You
  • #252,025
  • Sep 9, 2010 3:04pm Sep 9, 2010 3:04pm
Quoting pawpaw1000

Wondering whether my emotions will change with more money?
Yes...

Any changes to your current trade style will have an initial impact. It is how comfortable you are with this that will allow you to continue.

As far as adding more to the account...

This decision is yours. Yes, you want to make sure your ass is covered, this too will help you from losing your shit on a spike against you, but all in all, the decision is yours.

Take that extra trade for a couple of rides...see how it works out for ya...if it don't quite feel right, just go back to doing what you are doing.

I have tripled an account in a week only to crush it back to bust after trying to go to far to fast. Take the time you need. Take an extra risk or two. Keep control.

And most importantly.

DO NOT let one bad trade mess with your head. IF you take a hit, no biggie, sit back, collect your thoughts, take on your original MM and make it back. Chasing a loss by adding to your risk will most inevitably put you on the wrong side of the Forex Trader statistics.

Be one of the 10%.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,026
  • Sep 9, 2010 3:05pm Sep 9, 2010 3:05pm
Quoting pawpaw1000
Thanks wormy, will definately bare this in mind as I fine tune my system before adding bigger doe!

please keep recommendations coming, need all the help i can get!
you're welcome my friend.

Will do whatever I can to help, you're one of the few here who are worth the time and effort

have a good day & good luck!
Thank You
  • #252,027
  • Sep 9, 2010 3:11pm Sep 9, 2010 3:11pm
Quoting wormboy
you're welcome my friend.

Will do whatever I can to help, you're one of the few here who are worth the time and effort

have a good day & good luck!

Thanks guys...
@pawpaw1000 on Twitter
  • #252,028
  • Sep 9, 2010 4:07pm Sep 9, 2010 4:07pm
Quoting wormboy
you're welcome my friend.

Will do whatever I can to help, you're one of the few here who are worth the time and effort

have a good day & good luck!
EID MUBARAK to all my trading brothers and sisters on this forum. Wishing you all the best of heath and happiness. MAY PEACE BE UPON YOU ALL.
You've got to be IN IT to WIN IT!
  • #252,029
  • Sep 9, 2010 4:12pm Sep 9, 2010 4:12pm
I was busy trying to do something about my birthday today 9th and you guys picked all the falling pips. I'll try for crumbs and then make a good try tomorrow.

Peace
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #252,030
  • Sep 9, 2010 4:24pm Sep 9, 2010 4:24pm
Longs @ 1.5430
SL 1.5325 (long term positions (I hope))
Target 1.6000

D1:
Attached Image (click to enlarge)
Click to Enlarge Name: Picture0126.png Size: 38 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #252,031
  • Sep 9, 2010 4:43pm Sep 9, 2010 4:43pm
Quoting USD-Bear
Longs @ 1.5430
SL 1.5325 (long term positions (I hope))
Target 1.6000

D1:
Attachment
With ya here....Long Biased again...

Reason, area at the top of the chart has not been filled by London. I got a bit of an issue with NY settings tops n bottoms in this game. IF the books get cleared tonight, I would be looking for the H4 resistance line to become the new support. Now, hopeful as you are for 1.6, I would settle just getting in the good graces of the H4 to get us out of the current area.

Good luck on yer trade.

Chart 1, area not filled hourly.
Chart 2, area not filled and H4 resistance line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gup1.jpg Size: 76 KB
Click to Enlarge Name: gup2.jpg Size: 87 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,032
  • Sep 9, 2010 4:48pm Sep 9, 2010 4:48pm
[quote=Magix;4012304]With ya here....Long Biased again...

Good luck on yer trade.

Thanks!
Don't be a hero. Don't have an ego. Always question yourself
  • #252,033
  • Sep 9, 2010 4:49pm Sep 9, 2010 4:49pm
what do u mean by h4 res line
is it the yellow line sitting about 5465 or some else

please reply

thanks as always helpful


Quoting Magix
With ya here....Long Biased again...

Reason, area at the top of the chart has not been filled by London. I got a bit of an issue with NY settings tops n bottoms in this game. IF the books get cleared tonight, I would be looking for the H4 resistance line to become the new support. Now, hopeful as you are for 1.6, I would settle just getting in the good graces of the H4 to get us out of the current area.

Good luck on yer trade.

Chart 1, area not filled hourly.
Chart 2, area not filled and H4 resistance line.
We cannot direct the winds but we can adjust our sail.
  • #252,034
  • Sep 9, 2010 4:54pm Sep 9, 2010 4:54pm
Man do you ever sleep i see you online 26/5?


any ways can request help any time from you..

And i was reading post between you and paw...It has groomed me alot

I'll try couple extra from monday onwards..cheerz thank you



One day i'll be a step ahead of you in trading if i keep gettin help from 3 masters
eheh
cloggie magix wormy
We cannot direct the winds but we can adjust our sail.
  • #252,035
  • Sep 9, 2010 4:55pm Sep 9, 2010 4:55pm
Quoting Magix
With ya here....Long Biased again...

Reason, area at the top of the chart has not been filled by London. I got a bit of an issue with NY settings tops n bottoms in this game. IF the books get cleared tonight, I would be looking for the H4 resistance line to become the new support. Now, hopeful as you are for 1.6, I would settle just getting in the good graces of the H4 to get us out of the current area.

Good luck on yer trade.

Chart 1, area not filled hourly.
Chart 2, area not filled and H4 resistance line.
Hi bro
How r u?
Market Have been ranging for days , It refuse to go on a direction "My daily Say long for days now. Seems like Big Payers Play In Caution way or maybe sideline, Don't Know why no direction.Start to lose my Patience

there is a Mess in the market need to cleanup
  • #252,036
  • Sep 9, 2010 5:02pm Sep 9, 2010 5:02pm
Quoting posterboy
what do u mean by h4 res line
is it the yellow line sitting about 5465 or some else

please reply

thanks as always helpful
I work with the different time frames using the 200EMA as a trend identifier. The one we have been having the most amount of issues closing above to allow the trend to continue topside is the H4.

You can see where this line is challanged several times before it finally gives, I am looking for a continuation topside as we have captured support on the Daily 200 EMA, not shown and would like to see a directional break. Now as London hasn't seen the top of the chart about 50ish pips...I am thinking that there is a good chance they will try to clear the books. Cover this area of trade. IF that happens, there is a good likelihood that we will finally hold above this line and allow further movement up the chart.

Price at current is above daily support, so, a close above this line would allow an actual trend instead of this bouncy shit that I am sure we are all getting a little tired of.
Attached Image (click to enlarge)
Click to Enlarge Name: 200s.jpg Size: 61 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,037
  • Sep 9, 2010 5:07pm Sep 9, 2010 5:07pm
Quoting posterboy
Man do you ever sleep i see you online 26/5?


any ways can request help any time from you..

And i was reading post between you and paw...It has groomed me alot

I'll try couple extra from monday onwards..cheerz thank you



One day i'll be a step ahead of you in trading if i keep gettin help from 3 masters
eheh
cloggie magix wormy
We have all put in our time...a lot of great traders here, always room for one more. Take it as it comes mango, slow and steady really can win the race.

And like all others, new, intermediate and even us old dawgs apply, if ya got a question, ASK ASK ASK ASK ASK ASK ASK ASK ASK...

Best to feel sheepish asking a question instead of having your ass handed to you on something you may not understand.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,038
  • Sep 9, 2010 5:18pm Sep 9, 2010 5:18pm
i trade like cloogie has shown to me so far river box trading simple like he says old school simple tl's ...

i use better volume idi just to keep tabs on strenght on swings though it really help 50%..besides i just put on 200 ema ......

i learnt from u if its challanges on m5 and stays above it challanges m15 200 ema..i hope iam rite..

Q1 how do u trade do you position your trade like big boys or day swing trader..
please be comprehensive


thankssssss...
chart below see it.

i have a order set at 5415 on that orange and pink tl stop below sep 9 low
Q2 does m1 really help i get a heart attack watchin m1....
if yes how and in what u spot on it
Attached Image (click to enlarge)
Click to Enlarge Name: magix.gif Size: 24 KB
We cannot direct the winds but we can adjust our sail.
  • #252,039
  • Sep 9, 2010 5:28pm Sep 9, 2010 5:28pm
Quoting posterboy
Q1 how do u trade do you position your trade like big boys or day swing trader..
please be comprehensive


There isn't a trader that doesn't like to see hundreds of pips mount in the account, but that really only applies if there is a trend in place. Grabbing and holding here, (current price), is like both myself and USD-Bear mentioned, hopeful.

I prefer to trade off the 5m charts, I have a few things that I look for, a couple of different charts loaded. This helps me keep perspective.

I know what I would like to see and at current we are below the 200 on 5 for daily open...typically not a great sign for a long position, but we have seen some support from the other time frames. Current on deck is the M30.

This whippy market has been anything but easy to trade, and as things go, a solid break from here, I am out of this trade and will watch later Asian for something better to come my way.

I am a directional trader, but, with no direction, I take what I can get. 20, 30, 50...shit, I will take 5 if I don't like what I see.

Check my thread to have a better idea of what I look at...

HERE

And feel free to ask as many questions as you need to.

Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252,040
  • Sep 9, 2010 5:33pm Sep 9, 2010 5:33pm
And a current chart with the last of the supports...failure here, I reconsider my position.
Attached Image (click to enlarge)
Click to Enlarge Name: ch1.jpg Size: 222 KB
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
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