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Cable Update (GBPUSD)

  • #253,161
  • Sep 15, 2010 1:57am Sep 15, 2010 1:57am
Quoting Temps
Morning all, Worked out well.......

nice prediction Temps,
i also took pipchick´s short late us session but was out before asia open,
have a nice trading day


yesterday my trading was mixed, +45, -56 and +23, a total of +12 pips,
for a day like yesterday i have to admitt it´s a puny result.
My first trade was good entry (1.5349 long as posted) but bad timing on profit taking, from +90 pips a decline to +45 pips, cashed in at the first retrace (psychology you know), the second was really bad entry (1.5449 short as posted) right into the megabull after US QE rumors hit the wires,
i made two mistakes 1. trying to pick the top, 2. changed my sl from 1.5491 to 1.5505, as bbakker mentionend "when market proofs you wrong, you are wrong, don´t change sl! The third trade was pipchick´s short for 23 pips (thx pipchick).
Hopefully today is a better day, already catched a few on the franky open.

I wish everybody a profitable day
  • #253,162
  • Sep 15, 2010 2:10am Sep 15, 2010 2:10am
Quoting dag777
nice prediction Temps,


yesterday my trading was mixed, +45, -56 and +23, a total of +12 pips,
for a day like yesterday i have to admitt it´s a puny result.

I wish everybody a profitable day
Weve all had 'puny trading days', hopefully we have all learnt from them too, I know I have, keeping a daily diary will help you remember them.

Good piping today
  • #253,163
  • Sep 15, 2010 2:15am Sep 15, 2010 2:15am
Long 482, sl just below days low at 440. Target half yesterdays high and second half around 650-680
  • #253,164
  • Sep 15, 2010 2:33am Sep 15, 2010 2:33am
+25
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" Never let the past hold the future to ransom "
  • #253,165
  • Sep 15, 2010 2:34am Sep 15, 2010 2:34am
+36
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" Never let the past hold the future to ransom "
  • #253,166
  • Sep 15, 2010 2:40am Sep 15, 2010 2:40am
Quoting AdrianHNV
Weve all had 'puny trading days', hopefully we have all learnt from them too, I know I have, keeping a daily diary will help you remember them.

Good piping today
Hi Adrian,

yes, keeping a trading journal helps,
i try to analyze my trades (mistakes) in the evening or at weekend,
also happy pippin to you...
  • #253,167
  • Sep 15, 2010 2:42am Sep 15, 2010 2:42am
Quoting Gleneagles
+36
Morning all

it is probably obvious but what are dustbin trades?

will be going long if this breaks 1.5530

good luck to all.
  • #253,168
  • Sep 15, 2010 2:47am Sep 15, 2010 2:47am
Goodmorning gentlemen and babies. Decided to enter early today, I missed the fastest profit yesterday. Meanwhile my short at NY close yesterday didn't do badly, up with 70pip to start the day.

Let's see how it goes today.
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,169
  • Edited 2:49am Sep 15, 2010 2:47am | Edited 2:49am
I am interested in how you more experienced traders handle news - I don't mean the really big ones, just the everyday economic announcements.

If you are in a profitable trade going into news how do you protect your position? Or is the only protection to close it?

Many thanks
  • #253,170
  • Sep 15, 2010 2:52am Sep 15, 2010 2:52am
G/M, ...Cable has given back over 50% of the 5587-5448 fall from yesterday's Hi@ 5587, that 5448 pullback low finding support at the previous 4hr swing hi x 3 zone (=potential rbs) Uptrend looks like it might develop on 4hr following the upside break of the descending channel on that daily t/f... 1hr is more mixed at the moment the 5448 Low being a LL on that t/f following 2 x LH. Uk employment data later.

G/L
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ex member
  • #253,171
  • Sep 15, 2010 2:56am Sep 15, 2010 2:56am
Quoting Delite
I am interested in how you more experienced traders handle news - I don't mean the really big ones, just the everyday economic announcements.

If you are in a profitable trade going into news how do you protect your position? Or is the only protection to close it?

Many thanks

cash in the market will be here after the news dont let the market take it back good luck
  • #253,172
  • Sep 15, 2010 3:01am Sep 15, 2010 3:01am
Quoting Dayboy001
Morning all

it is probably obvious but what are dustbin trades?

will be going long if this breaks 1.5530

good luck to all.
When I started of as a junior trader , my boss told me I am wasting his time, valuable resources, management time etc doing " dustbin trades" ......according to his definition anything less than 15 pips is a " dustbin trade "
The term is still used to describe small trades by some of the traders I have contact with.
" Never let the past hold the future to ransom "
  • #253,173
  • Sep 15, 2010 3:03am Sep 15, 2010 3:03am
any long-term GU thoughts, anybody?

I'm up biased in mind as per pic

regards,
snu
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  • #253,174
  • Sep 15, 2010 3:04am Sep 15, 2010 3:04am
Quoting kill56
cash in the market will be here after the news dont let the market take it back good luck

Good advice, kill, thanks!
  • #253,175
  • Sep 15, 2010 3:07am Sep 15, 2010 3:07am
Quoting AdrianHNV
Hopefully another Bizzzzzzy day today....And yes it is a good morning again the sun's shining and not a cloud in sight
.
Looking forward to good correlation trades again, like yesterday.
Hey Adrian,

Would you mind explaining how your correlation trades work - what specific things are you looking for to determine trade entry and exit?
"Sell? Sell? No! I can't Sell! I'll Sell When I'm Dead"
  • #253,176
  • Sep 15, 2010 3:08am Sep 15, 2010 3:08am
I dont post very often and sorry if my english is not the best it is not my first language. I read forexfactory allot but dont base my trading desisions on anything anyone says but trade as i see. It gives me a great laugh everyday when someone comes in and says it is going to be a up day or a short day because that guy said it or what do you think is the chanse of hitting that price today. For the people who starting out and is new no one know where the market is going. But although you dont know where the market is going there is no need that trading should be difficult. Find yourself a reliable indicator so that you can follow the ride. Do not try to face the traffic. Keep youre sl is in place with a good risk reward ration and follow the rides. Trade youre own plan.
  • #253,177
  • Sep 15, 2010 3:10am Sep 15, 2010 3:10am
just believe your own plan and trade it.... dont ever trust any poster... profit will come ....

Quoting snusnufreak
any long-term GU thoughts, anybody?

I'm up biased in mind as per pic

regards,
snu
not euphoria follower
  • #253,178
  • Sep 15, 2010 3:11am Sep 15, 2010 3:11am
Quoting Delite
I am interested in how you more experienced traders handle news - I don't mean the really big ones, just the everyday economic announcements.

If you are in a profitable trade going into news how do you protect your position? Or is the only protection to close it?

Many thanks
News is nuisance. Don't give back what you have already made. I don't trade news anyway, I avoid it. Any news including the almighty NFP. As a matter of fact on NFP days I reduce my lot size to 30%, and generally I trade half my normal lot size on Fridays.
Hope this helps. Good luck
Mystery Is The Final Product Of Ignorance. Hey! What's ma chart doin'
  • #253,179
  • Sep 15, 2010 3:14am Sep 15, 2010 3:14am


Quoting Neller
I dont post very often and sorry if my english is not the best it is not my first language....
not euphoria follower
  • #253,180
  • Sep 15, 2010 3:19am Sep 15, 2010 3:19am
Quoting Neller
I dont post very often and sorry if my english is not the best it is not my first language. I read forexfactory allot but dont base my trading desisions on anything anyone says but trade as i see. It gives me a great laugh everyday when someone comes in and says it is going to be a up day or a short day because that guy said it or what do you think is the chanse of hitting that price today. For the people who starting out and is new no one know where the market is going. But although you dont know where the market is going there is no need that...
I could not have said it better myself. I just follow the posts and love reading everyone's opinions and analysis. I'm not saying that I don't learn anything here. Just that the best thing is to follow your own plan.
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