Cable Update (GBPUSD) | Page 12628 | 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)

  • #252,541
  • Sep 13, 2010 3:41am Sep 13, 2010 3:41am
Quoting Xxavier
Don't want to start flame of war here..

Entry doesn't mean anything by itself, its the exit that determines profit or loss... I think you are not giving yourself a chance by keeping such tight stops..But if its working for you, then please continue....
Jst want to add, if your making 20% on your equity in one day; then your risk management needs some serious re thinking.. It may work now, but if your up 20% on this day, how much of your equity did you risk to get it? 50%??

Money management is the name of the game if you want to still be doing this a few years from now, i typically use 2.5% of my equity in each trade and even some people think thats far too much!
  • #252,542
  • Sep 13, 2010 3:47am Sep 13, 2010 3:47am
Quoting pawpaw1000
Heya FourXtrader...

Yeah, have seen it time and time again... Must say though that I do have a different view on things when it comes to the questions of life.

For me, I'm here to try and help people, or I hope I am blessed enough to be able to do it.

I don't want to blow my horn or something but just the facts:

http://www.globalissues.org/article/...acts-and-stats

When i read that I really can't understand how we in the western world can continue the way we do without even blinking a eye! How can you justify staying...
Hi Paw,

Wasn't wrong to put you on my buddy's list ....some time ago.....it makes a real difference with some here.....

Btw still in France ????

Wish you all the best
Non licet omnibus adire Corinthum
  • #252,543
  • Sep 13, 2010 3:50am Sep 13, 2010 3:50am
Quoting PIPMunch
Jst want to add, if your making 20% on your equity in one day; then your risk management needs some serious re thinking.. It may work now, but if your up 20% on this day, how much of your equity did you risk to get it? 50%??

Money management is the name of the game if you want to still be doing this a few years from now, i typically use 2.5% of my equity in each trade and even some people think thats far too much!
I think if you read paws original post he is only risking 2% on each trade with a 5.1 risk reward giving him 20% if the two trades won.
  • #252,544
  • Sep 13, 2010 3:54am Sep 13, 2010 3:54am
Quoting PIPMunch
Jst want to add, if your making 20% on your equity in one day; then your risk management needs some serious re thinking.. It may work now, but if your up 20% on this day, how much of your equity did you risk to get it? 50%??

Money management is the name of the game if you want to still be doing this a few years from now, i typically use 2.5% of my equity in each trade and even some people think thats far too much!
Think you got confused with pawpaw's and my messages. I did not say anything about 20% in one day neither did pawpaw..

EDIT: Temp, did not see your message.. Thanks
  • #252,545
  • Sep 13, 2010 4:11am Sep 13, 2010 4:11am
My H1 chart says up move might be tired. What does yours say? I'm going short right now.
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #252,546
  • Sep 13, 2010 4:16am Sep 13, 2010 4:16am
Quoting Precap2
My H1 chart says up move might be tired. What does yours say? I'm going short right now.
agreed,will play this range till we get a clear break, goodluck...
Attached Image (click to enlarge)
Click to Enlarge Name: 9.png Size: 35 KB
  • #252,547
  • Sep 13, 2010 4:17am Sep 13, 2010 4:17am
Quoting Precap2
My H1 chart says up move might be tired. What does yours say? I'm going short right now.
You need to wait for an H4 close below 1.2790 to short euro. Market sentiment is unclear and this does not seem to be a retracement! Beware of hidden traps!
  • #252,548
  • Sep 13, 2010 4:22am Sep 13, 2010 4:22am
Hi guys and ladies,

Had an oustanding week-end at american movies festival in Deauville.....so many beautiful ladies....

Anyway back to trading....

Yes I still believe in shorts......despite an opening bar on H4 at upper line of kumo....which is a warning for shorts....so I'll use a tight SL.....

So be careful.....

GL to everyone
Attached Image (click to enlarge)
Click to Enlarge Name: saisie_chart.gif Size: 37 KB
Non licet omnibus adire Corinthum
  • #252,549
  • Sep 13, 2010 4:28am Sep 13, 2010 4:28am
Remember this: Cable has done it's weekly high already (you can quote me). I'm going short all the way
Attached Image
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #252,550
  • Sep 13, 2010 4:32am Sep 13, 2010 4:32am
Quoting rashidcm2004
You need to wait for an H4 close below 1.2790 to short euro. Market sentiment is unclear and this does not seem to be a retracement! Beware of hidden traps!
I don't value H4 much thought except for short-term trend and not candles formation, I often place long term trades off it. My broker's H4 and yours are obviously different. Mine just closed with the last hour
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #252,551
  • Sep 13, 2010 4:37am Sep 13, 2010 4:37am
short 1,5459 with small position (0,5%) on 5min break triangle. SL at 5470, TP1-100MA, TP2 5425
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 28 KB
  • #252,552
  • Sep 13, 2010 4:38am Sep 13, 2010 4:38am
Quoting Xxavier
Not taking profits on this one yet.. The price action and the chart still looks really good..
Did not get the follow thru I was looking for.. So closing it for few pips loss...
  • #252,553
  • Sep 13, 2010 4:39am Sep 13, 2010 4:39am
Quoting Xxavier
Don't want to start flame of war here..

Entry doesn't mean anything by itself, its the exit that determines profit or loss... I think you are not giving yourself a chance by keeping such tight stops..But if its working for you, then please continue....
No war, always good to discuss things...

I enter with let's say 5 micro lots, with a tight s/l, when I get 10 pips I exit 2. move s/l closer. If i get 20 I close 2 and move s/l to b/e...

See how nice it works...
@pawpaw1000 on Twitter
  • #252,554
  • Sep 13, 2010 4:42am Sep 13, 2010 4:42am
Quoting pawpaw1000
No war, always good to discuss things...

I enter with let's say 5 micro lots, with a tight s/l, when I get 10 pips I exit 2. move s/l closer. If i get 20 I close 2 and move s/l to b/e...

See how nice it works...
BTW, just entered on the break down on cable at 5450...

s/l at 5460... t/p unknown...
EDIT: S/l to BE
@pawpaw1000 on Twitter
  • #252,555
  • Sep 13, 2010 4:46am Sep 13, 2010 4:46am
Quoting PIPMunch
Jst want to add, if your making 20% on your equity in one day; then your risk management needs some serious re thinking.. It may work now, but if your up 20% on this day, how much of your equity did you risk to get it? 50%??

Money management is the name of the game if you want to still be doing this a few years from now, i typically use 2.5% of my equity in each trade and even some people think thats far too much!
Mate, you got it all wrong... If you can get a good enough entry so you only have to risk 15 pips (2%) of account and then catch a 60 pip trade, you're up 8%... catch one on three different pairs and what you got?

Takes alot of practise but I'm willing to put in the time...

This way you don't let losers run and get the most out of your winners...
@pawpaw1000 on Twitter
  • #252,556
  • Sep 13, 2010 4:50am Sep 13, 2010 4:50am
Quoting nAVIN2007
funny isnt it!..like i said empty vessels make big sound always..
Agree 100% bro.
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #252,557
  • Sep 13, 2010 4:55am Sep 13, 2010 4:55am
Quoting nAVIN2007
funny isnt it!..like i said empty vessels make big sound always..
not euphoria follower
  • #252,558
  • Sep 13, 2010 4:56am Sep 13, 2010 4:56am
Quoting pawpaw1000
Mate, you got it all wrong... If you can get a good enough entry so you only have to risk 15 pips (2%) of account and then catch a 60 pip trade, you're up 8%... catch one on three different pairs and what you got?

Takes alot of practise but I'm willing to put in the time...

This way you don't let losers run and get the most out of your winners...
Making 20% a day has some irony to it. You need patience to enter only clean trades and they always come along and pay well. My daily target is 200pips and I always meet it with easy in all market conditions. Patience would at first seem to take away your profit. Wrong!!! It brings profit. Real good profit.

Try it
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #252,559
  • Sep 13, 2010 4:59am Sep 13, 2010 4:59am
Quoting mahathir
what is your tp?
Hi,closed long earlier for 101pips. Setting a tp at the outset is too subjective for me, I try to chase profits with stop losses where I can, the initial focus for me is to try and get above b/e, sometimes after a retest of b/e.

On sidelines right now. Interestingly the 1.6FE of that 9th sept swing low is close to 1.53 round number, and the 50% rt of today's up move is close to 1.54 round number. Just being simple minded!
  • #252,560
  • Sep 13, 2010 4:59am Sep 13, 2010 4:59am
Do your HEAD IN PA, however I favour shorts as we speak looking for an entry. No Trades yet.
Attached Image (click to enlarge)
Click to Enlarge Name: cable.JPG Size: 122 KB
Veni, Vidi, Vici (We came, we saw, we conquered)
440 traders viewing now, 2 are registered:
Altaf249
,
ricmaj