Attachments: Cable Update (GBPUSD)

Cable Update (GBPUSD)

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#252,861
Sep 14, 2010 8:38am Sep 14, 2010 8:38am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Quoting pawpaw1000

Disliked

Aah, magix, you know what I mean! letting the crappy PA influence my emotions instead of letting it tell me DONT BLOODY TRADE!

Ignored

There is lots of things to get to know about market that goes along with a little PA...ie, are we going up or are we coming down.

Part of keeping emotions in check and setting effective stops is having a little better understanding of just this.

Currently...we are right back to roll over price...

Critical time of trade imo, we go positive or we see rejection...Alls I know is I triggered off the double hulls for a quick 16x2 here and will wait to see what happens.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#252,862
Sep 14, 2010 8:43am Sep 14, 2010 8:43am

ba1ker
Joined Feb 2010 | Status: Inactive | 6,482 Posts

Quoting dil

Disliked

Dude control your emotions , 2 agoyears emotions was with me i burned 8 ~ accounts now im making alot of money , last month 60% ~ , this month for 14 days aleardy 43% ~ , REMEMBER REMOVE EMOTIONS

Ignored

Easier said than done!

A good way of removing emotions when trading is to plan your trade, which is probably easier to do when you are working of the higher timeframes. Once I have planned my trade and the trade is executed, the trade is out of my hands and I let the market determine whether it hits my TPs or SL. The market will decide the fate of whether it was a good plan or bad plan. When day trading I have smaller targets... but I always try to let the last one run with a trailing stop behind it or close it out by COB. A day trade is what the name implies, a trade that lasts no longer than a day.

I am still debating with myself whether I should use technical stops when day trading or just fixed targets of 10, 20, 30, etc. pips. This can only be decided through trail and error, experience of the market and what works for ME in order to come to the right conclusion that suits me. Day trading is and should be a completely different mindset to swing trading. I also have to take into account that I have a day job... <sigh> so many factors, but I will eventually get there! I can also come to the conclusion that day trading is not suitable for me!!!

Lunch time is over...

#252,863
Sep 14, 2010 8:45am Sep 14, 2010 8:45am

USD-Bear
Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts

Quoting dil

Disliked

i'm gonna post with details if this candle gonna close like this

Ignored

The exciting is killing me

Don't be a hero. Don't have an ego. Always question yourself

#252,864
Sep 14, 2010 8:46am Sep 14, 2010 8:46am

Dayboy001
| Joined May 2008 | Status: Trader | 1,413 Posts

Anyone got a view on whats happening on the crosses?

#252,865
Sep 14, 2010 8:48am Sep 14, 2010 8:48am

Sutts
| Joined Sep 2009 | Status: Trader | 1,188 Posts

Quoting Magix

Disliked

There is lots of things to get to know about market that goes along with a little PA...ie, are we going up or are we coming down.

Part of keeping emotions in check and setting effective stops is having a little better understanding of just this.

Currently...we are right back to roll over price...

Critical time of trade imo, we go positive or we see rejection...Alls I know is I triggered off the double hulls for a quick 16x2 here and will wait to see what happens.

Ignored

How do you calculate your buy and sell areas Magix. Are they based around the DP? Would also appreciate an explanation of double hull if you get the time. Thanks!

#252,866
Sep 14, 2010 8:49am Sep 14, 2010 8:49am

dil
| Membership Revoked | Joined Dec 2009 | 884 Posts

Quoting USD-Bear

Disliked

The exciting is killing me

Ignored

why lol ?

#252,867
Sep 14, 2010 8:50am Sep 14, 2010 8:50am

Precap2
| Joined Aug 2009 | Status: Non-graduating student | 575 Posts

Quoting pawpaw1000

Disliked

Aah, magix, you know what I mean! letting the crappy PA influence my emotions instead of letting it tell me DONT BLOODY TRADE!

Ignored

When I hear about emotion-free trading I laugh mirthfully and mirthlessly at the same time. Is that possible? I have traded for 7 whole years and still don't understand that concept. Even the Turtle guys that tried to keep emotions out with their 20MA and 50MA tunnel never quite got control of theirs. I think emotion ruins people through denial of it.

My 2 cents tho

Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'

#252,868
Sep 14, 2010 8:50am Sep 14, 2010 8:50am

tetis
Joined Sep 2007 | Status: Lion's Heart | 886 Posts

I took my 34 pips of long

congratulation to all long traders and also who trades to their knowledge not others!!!!!!!!

#252,869
Sep 14, 2010 8:52am Sep 14, 2010 8:52am

dag777
| Joined Sep 2009 | Status: Trader | 531 Posts

i try a short at 1.5449, sl at 1.5491, tp 1.5390

#252,870
Sep 14, 2010 8:52am Sep 14, 2010 8:52am

USD-Bear
Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts

Quoting dil

Disliked

why lol ?

Ignored

Because you make it sound so special.....

Don't be a hero. Don't have an ego. Always question yourself

#252,871
Sep 14, 2010 8:53am Sep 14, 2010 8:53am

Dayboy001
| Joined May 2008 | Status: Trader | 1,413 Posts

Quoting dag777

Disliked

i try a short at 1.5449, sl at 1.5491, tp 1.5390

Ignored

With you on that one

#252,872
Sep 14, 2010 8:54am Sep 14, 2010 8:54am

Precap2
| Joined Aug 2009 | Status: Non-graduating student | 575 Posts

USD/CHF is at a powerful psychological level 1.00000. Would be looking for a buy signal. Good luck guys.

Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'

#252,873
Sep 14, 2010 8:55am Sep 14, 2010 8:55am

Alexbabwa
| Joined Aug 2010 | Status: Trader | 218 Posts

Quoting Alexbabwa

Disliked

I am long myself, but not very confident in it, back at 420, sl still holding at 385 below weekly pivot

Ignored

out at 46 for +26 pips, exit based on descending trend line

now short 51, sl 501

#252,874
Sep 14, 2010 8:56am Sep 14, 2010 8:56am

dag777
| Joined Sep 2009 | Status: Trader | 531 Posts

Quoting Dayboy001

Disliked

With you on that one

Ignored

maybe we are a bit early, 1.5470 is the better entry,
if it gets there i maybe add depends on pa at this point

#252,875
Sep 14, 2010 8:57am Sep 14, 2010 8:57am

Beljevina
Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts

Quoting Precap2

Disliked

USD/CHF is at a powerful psychological level 1.00000. Would be looking for a buy signal. Good luck guys.

Ignored

Remain cautious ... forexlive reports the following:

Swiss Rate Hike Talk Swirling - Traders note talk of one of the big Swiss banks circulating an e-mail touting a rate hike from the SNB this Thursday. One would think the monetary conditions created by a record high franc would be enough to dissuade them from hiking but I assume these guys know more than me…makes no sense, but it is what we’re hearing.

If the hike occurs, one market prognosticator likes it to the biggest policy blunder since the ECB hiked in the summer of 2008…

#252,876
Sep 14, 2010 8:58am Sep 14, 2010 8:58am

Magix
Joined Feb 2009 | Status: Half in the Bag | 17,827 Posts

Quoting Sutts

Disliked

How do you calculate your buy and sell areas Magix. Are they based around the DP? Would also appreciate an explanation of double hull if you get the time. Thanks!

Ignored

I choose not to play in congested areas, but will grab a quick take for a couple bucks.

Double hulls looks like the chart. I use a fast and slow, like using Moving Average crosses, the hulls are a combination of movings...

In effect, this is like using 2 sets of moving average crosses.

When price is above the line, it changes to a buy, price below, changes to a sell, and I typically look for trades in favor of them both. Choppy waters can get you into a heap of trouble real fast, but having an idea if you're looking to buy or looking to sell helps.

Trades taken on these alone with keep you in the good. Trade as price moves in favor of the major, take exit when price triggers to the opposing, on a scalp basis, or hold as price moves above major until it crosses to the counter...

Along with these, I do add moving averages, daily open and pivot as you can see in my previous charts.

Again, just another way of looking at things.

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Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!

#252,877
Sep 14, 2010 9:00am Sep 14, 2010 9:00am

dag777
| Joined Sep 2009 | Status: Trader | 531 Posts

Quoting Beljevina

Disliked

Remain cautious ... forexlive reports the following:
[indent]Swiss Rate Hike Talk Swirling - Traders note talk of one of the big Swiss banks circulating an e-mail touting a rate hike from the SNB this Thursday. One would think the monetary conditions created by a record high franc would be enough to dissuade them from hiking but I assume these guys know more than me…makes no sense, but it is what we’re hearing.

If the hike occurs, one market prognosticator...

Ignored