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Cable Update (GBPUSD)

  • #253,401
  • Sep 15, 2010 12:45pm Sep 15, 2010 12:45pm
Quoting Delite
Hi everyone

Just wanted to say that I have had my most successful day to date....
I've learnt a lot from here and some day i hope i can share something to others as well ... thank you
  • #253,402
  • Sep 15, 2010 12:46pm Sep 15, 2010 12:46pm
Quoting Delite
Anticipating or is there an actual reason to place the trade? (Only trying to help!)
Thanks delite,

Yeah, i always get home from rugby at around this time and always see the same shite! BEEG move during the last couple of hours and some sideways before moving South...

Let's see, not too technical but I have this tried and tested
@pawpaw1000 on Twitter
  • #253,403
  • Sep 15, 2010 12:46pm Sep 15, 2010 12:46pm
Quoting Gbp/usd
Feel embarrassed today as i have done myself a disservice. Sold at 1.5500 got out with -80 pips at 1.5630 then went short again only to lose another 50 pips. total loss today was -129.3 pips, just don't know where the upswing data is coming from?

Alas i shall return tomorrow with a new plan. Until then i shall nurse my wounds.
(dailly chart see)
yesterday..we broke the low on dailly then price reversed and broke the high of the previous (dailly chart) market told which direction was favoured..

today price sank to 50% fib level (low of yesterday to high would be where u place the fibs)..we retraced to 50% then broke the high..classic cable characterics telling u market wants to go up

hope what i have written helps..if not i will post a chart
  • #253,404
  • Sep 15, 2010 12:48pm Sep 15, 2010 12:48pm
Quoting pawpaw1000
Thanks delite,

Yeah, i always get home from rugby at around this time and always see the same shite! BEEG move during the last couple of hours and some sideways before moving South...

Let's see, not too technical but I have this tried and tested
Good stuff! Just wanted to check!

Good luck!
  • #253,405
  • Sep 15, 2010 12:49pm Sep 15, 2010 12:49pm
Quoting Gbp/usd
Feel embarrassed today as i have done myself a disservice. Sold at 1.5500 got out with -80 pips at 1.5630 then went short again only to lose another 50 pips. total loss today was -129.3 pips, just don't know where the upswing data is coming from?

Alas i shall return tomorrow with a new plan. Until then i shall nurse my wounds.
Sorry to hear that. What was the basis of yr shorts and what tf? Were ma's pointing up or down? Treat it like a business, learn to always use stop losses - treat 'em as a type of "use by date"
  • #253,406
  • Sep 15, 2010 12:52pm Sep 15, 2010 12:52pm
Quoting bimmerbob
Sorry to hear that. What was the basis of yr shorts and what tf? Were ma's pointing up or down? Treat it like a business, learn to always use stop losses - treat 'em as a type of "use by date"

Just to add - until you can see where you went wrong (either with the original decision or with the decision not to get out sooner) then don't place another trade. This was good advice given to me and it ensures you understand and learn from mistakes witout rushing in trying to recoup losses.

Good luck.
  • #253,407
  • Sep 15, 2010 12:53pm Sep 15, 2010 12:53pm
Quoting pawpaw1000
Thanks delite,

Yeah, i always get home from rugby at around this time and always see the same shite! BEEG move during the last couple of hours and some sideways before moving South...

Let's see, not too technical but I have this tried and tested
Yeah, there normally (from what I've noticed) isn't much volume between about now and the asian open.
  • #253,408
  • Sep 15, 2010 1:06pm Sep 15, 2010 1:06pm
hey gbp/usd

have you seen this thread .
there are some excellent webinars from sam seidon, if had you seen these you would have been looking to go long on dips as daily has broke out of the range.
hope this may help you in the future

cheers slim

http://www.forexfactory.com/showthread.php?t=255586

Quoting Gbp/usd
Feel embarrassed today as i have done myself a disservice. Sold at 1.5500 got out with -80 pips at 1.5630 then went short again only to lose another 50 pips. total loss today was -129.3 pips, just don't know where the upswing data is coming from?

Alas i shall return tomorrow with a new plan. Until then i shall nurse my wounds.
  • #253,409
  • Sep 15, 2010 1:17pm Sep 15, 2010 1:17pm
Thanks guys but i have a good idea of why i messed up today and the greater picture (daily charts with 50% retracement from previous days high) i did not see this classic move by cable. Come tomorrow morning (GMT) i shall have a new plan.

Thanks for your advice guys.
Our beliefs are based on logic and the pursuit of clearity.
  • #253,410
  • Edited 1:38pm Sep 15, 2010 1:29pm | Edited 1:38pm
Quoting Gbp/usd
Feel embarrassed today as i have done myself a disservice. Sold at 1.5500 got out with -80 pips at 1.5630 then went short again only to lose another 50 pips. total loss today was -129.3 pips, just don't know where the upswing data is coming from?

Alas i shall return tomorrow with a new plan. Until then i shall nurse my wounds.
Today's high is around 15650 and didn't fall below 5610 there's no way you can lose that second 50 pips. Typo?

Ok got it, sold at 15500 stopped out at 15580, short at 15580 stopped at 15630.
  • #253,411
  • Sep 15, 2010 1:30pm Sep 15, 2010 1:30pm
Quoting Gbp/usd
Thanks guys but i have a good idea of why i messed up today and the greater picture (daily charts with 50% retracement from previous days high) i did not see this classic move by cable. Come tomorrow morning (GMT) i shall have a new plan.

Thanks for your advice guys.
try this..look at dailly for bullish or bearish..always keep an eye on retracement to 61.8 or 50% and enter in the direction of the dailly trend

the fib itself is useless but when it lines up with a support or resistance..the chance of success increase big time..

any1 who can scalp this market is good..its very tough..and PA is absolutely nuts
  • #253,412
  • Sep 15, 2010 2:04pm Sep 15, 2010 2:04pm
i have short from 1.5617 , target 22 pips
wt ur say?
thnx, amir
  • #253,413
  • Sep 15, 2010 2:16pm Sep 15, 2010 2:16pm
Quoting Gbp/usd
Feel embarrassed today as i have done myself a disservice. Sold at 1.5500 got out with -80 pips at 1.5630 then went short again only to lose another 50 pips. total loss today was -129.3 pips, just don't know where the upswing data is coming from?

Alas i shall return tomorrow with a new plan. Until then i shall nurse my wounds.
Ouch! Sorry to hear that Me, currently short at 1.5530 hoping to tp at 1.5580. Doesn't look like it thou seeing how slow the PA is today.
Make your losses in demo. Earn your profits live.
  • #253,414
  • Sep 15, 2010 2:18pm Sep 15, 2010 2:18pm
Quoting Delite
Sorry to perpetuate this argument, but I really had to respond to this.

I am assuming your post refers to Cloggie?...
Whole heartedly agree. There seem to be quite a few "new" posters that have an axe to grind. They need to go grind it outside this forum...probably would help them to develop thicker skin.
What we obtain too cheap, we esteem too lightly.
  • #253,415
  • Sep 15, 2010 2:22pm Sep 15, 2010 2:22pm
Quoting Forexia
Ouch! Sorry to hear that Me, currently short at 1.5530 hoping to tp at 1.5580. Doesn't look like it thou seeing how slow the PA is today.
Action most likely will not increase until the asian session opens. this is what normally happens this time of day.
  • #253,416
  • Sep 15, 2010 2:31pm Sep 15, 2010 2:31pm
Keep shorting , and i want thank you for the your moneys its nice , you cant have it back it's my moneys now hahaha High five D
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  • #253,417
  • Sep 15, 2010 2:35pm Sep 15, 2010 2:35pm
I know I may not draw it like this, but it looks so nice:

H1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #253,418
  • Sep 15, 2010 2:38pm Sep 15, 2010 2:38pm
Quoting AdrianHNV
Just Buzzzzzzing in happy to say many thanks in particular to USD-Bear for his little tit-bit of information this morning which helped me achieve something I had only ever read about on various forums in the past.

I doubled my account balance today with that little piece of information and a little help from a few of the other seasons veterans here. so many thanks too all of you.
I learn something new here everyday, in between the chatter

Although I do realize that this is not going to be a regular occurrence, I suspect it's a little like...
Well done

Can I ask you... What was your maximum drawdown in percentage terms today?

BTW, it is a 'hole-in-one' and I did get one, albeit a 68yd one on a short par 3 course
  • #253,419
  • Sep 15, 2010 2:38pm Sep 15, 2010 2:38pm
Quoting USD-Bear
I know I may not draw it like this, but it looks so nice:

H1:
Attachment
dude dont draw on candle that is havent closed yet !
  • #253,420
  • Sep 15, 2010 2:43pm Sep 15, 2010 2:43pm
Quoting Nate04
Action most likely will not increase until the asian session opens. this is what normally happens this time of day.
True. Hopefully Asian session will go with my position.
Make your losses in demo. Earn your profits live.
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