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Cable Update (GBPUSD)

  • #257,941
  • Oct 1, 2010 10:23am Oct 1, 2010 10:23am
Quoting TheArcher
interesting , ya ?

will it form one more Diamond ?

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are you still holding your long from 5825? I had a long from 5803 but brought my stop up too soon. Back in again, hoping for a test of today's high and then 5900 but not sure if that will happen this late in the day.
  • #257,942
  • Oct 1, 2010 10:32am Oct 1, 2010 10:32am
Quoting uksnowman
are you still holding your long from 5825? I had a long from 5803 but brought my stop up too soon. Back in again, hoping for a test of today's high and then 5900 but not sure if that will happen this late in the day.

its still there .... like i said its for long term .... and it is demo trade



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Attached Image
  • #257,943
  • Oct 1, 2010 10:37am Oct 1, 2010 10:37am
I see lots of references to scalping but I've never really understood the technique. For instance, when cloggie said he was scalping the 1.5838 level does that mean:

1. He has seen that level rejected one or more times before.

2. He sells as soon as price hits that level again without waiting for confirmation.

3. If big momentum is seen prior to the touch then he may hold off.

4. If price continues through the level and closes above (on m5 say) then close out with a loss.

5. If price fall back then exit at the bottom of the current range.


Would that be a fair description of scalping a level such as 1.5838? Hope someone can help this poor noob!

Thanks
  • #257,944
  • Oct 1, 2010 10:39am Oct 1, 2010 10:39am
Quoting TheArcher
its still there .... like i said its for long term .... and it is demo trade

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ok hadn't realised it was demo, I'm only trading intra-day for now. GL
  • #257,945
  • Oct 1, 2010 10:40am Oct 1, 2010 10:40am
Quoting nAVIN2007

Originally Posted by Magix http://cdn.forexfactory.com/images/buttons/viewpost.gif

Give a man a match, he can be warm for the moment. Lite that man on fire and he will be warm for the rest of his life!



reminds me of similar incidence ..

Quoting TheArcher
Build a man a fire, keep him warm for a night, Set a man on fire, you'll keep him warm for a lifetime.

tongue in cheek :

oh dear ! poor man ! he wil be burnt to death !

one might be charged for murder !

perhaps it shoud be " teach him how to build a fire " ???


http://www.forexfactory.com/showpost...postcount=2024
  • #257,946
  • Oct 1, 2010 10:43am Oct 1, 2010 10:43am
Quoting uksnowman
ok hadn't realised it was demo, I'm only trading intra-day for now. GL
a serious Demo Trade ... not for fun ..

  • #257,947
  • Oct 1, 2010 10:49am Oct 1, 2010 10:49am
Quoting TheArcher
a serious Demo Trade ... not for fun ..

u have to becarefull bro..demo and live are quite different..u should see me on a demo as a scalper..i will scalp the bejesus out the market..

but on live..scalping scares the bejesus out of me

total role reversal..u will learn soon enough how powerfull yur thoughts are..demo like its a real account..set rules and stick to them..azim mentioned this will become habitual..and u will just do it out of instinct in the end

if i didnt do counter trend trades..i properly today may have sold thinking dailly almost definately may make a new low..rules lose u money but save yur account
  • #257,948
  • Oct 1, 2010 10:56am Oct 1, 2010 10:56am
ok..ok..does london will give some move..,
I will be the number one Manager.
  • #257,949
  • Oct 1, 2010 10:57am Oct 1, 2010 10:57am
Quoting nAVIN2007
u have to becarefull bro..demo and live are quite different..u should see me on a demo as a scalper..i will scalp the bejesus out the market..

but on live..scalping scares the bejesus out of me

total role reversal..u will learn soon enough how powerfull yur thoughts are..demo like its a real account..set rules and stick to them..azim mentioned this will become habitual..and u will just do it out of instinct in the end

if i didnt do counter trend trades..i properly today may have sold thinking dailly almost definately may make a new...

yep ...a serious Demo Trade ... not for fun ..


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  • #257,950
  • Oct 1, 2010 11:07am Oct 1, 2010 11:07am
what for then ?

Quoting TheArcher
yep ...a serious Demo Trade ... not for fun ..


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not euphoria follower
  • #257,951
  • Oct 1, 2010 11:07am Oct 1, 2010 11:07am
Quoting Sutts
I see lots of references to scalping but I've never really understood the technique. For instance, when cloggie said he was scalping the 1.5838 level does that mean:

1. He has seen that level rejected one or more times before.

2. He sells as soon as price hits that level again without waiting for confirmation.

3. If big momentum is seen prior to the touch then he may hold off.

4. If price continues through the level and closes above (on m5 say) then close out with a loss.

5. If price fall back then exit at the bottom of the current range....
Interesting question Sutts.

I've tried what I thought was scalping, but I get eaten alive...lol

Would be interesting to know some techniques. There's some scalpers on here I think, they may give us some advice.
  • #257,952
  • Oct 1, 2010 11:16am Oct 1, 2010 11:16am
Sutts

I see lots of references to scalping but I've never really understood the technique. For instance, when cloggie said he was scalping the 1.5838 level does that mean:
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Yes, looking at the chart it looks like it was bouncing back from that level several times. I presume each time it hits you sell and wait for it to do it again.

All in the timing I guess. I have tried it before without success!

Another skill that comes with practice!
  • #257,953
  • Oct 1, 2010 11:16am Oct 1, 2010 11:16am
Some diamond behavior for your consideration.

As for scalping, whatever works in the higher tf works in lower tf, but with less probability.
Attached Image (click to enlarge)
Click to Enlarge Name: 1octdiamond.gif Size: 25 KB
  • #257,954
  • Oct 1, 2010 11:17am Oct 1, 2010 11:17am
Quoting TommyPips
Interesting question Sutts.

I've tried what I thought was scalping, but I get eaten alive...lol

Would be interesting to know some techniques. There's some scalpers on here I think, they may give us some advice.
Hope so Tommy. I'm not great at jumping in without confirmation of a turn but I guess after a while you get a 6th sense for whether it will break through the S/R or not.

Would love to add this technique to my arsenal.
  • #257,955
  • Oct 1, 2010 11:19am Oct 1, 2010 11:19am
Quoting iqyu5an
what for then ?
training and educational for the real thing .



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  • #257,956
  • Oct 1, 2010 11:21am Oct 1, 2010 11:21am
Quoting trending
Some diamond behavior for your consideration.

As for scalping, whatever works in the higher tf works in lower tf, but with less probability.
Thanks Trending. When you range trade a higher T/F would you look for confirmation of a turn at the S/R level first or just enter where it rejected last time and close out if it carries on through? My guess is you just enter without confirmation going by the really tight entry prices I see posted here.

Thanks for the help.
  • #257,957
  • Oct 1, 2010 11:21am Oct 1, 2010 11:21am
The Train was crowded with pasengers

Lets see who can run out the Fastest
  • #257,958
  • Oct 1, 2010 11:21am Oct 1, 2010 11:21am
how long u will be in serious demo ?
how is the mentality ? how u can measure the mentality ?


Quoting TheArcher
training and educational for the real thing .



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not euphoria follower
  • #257,959
  • Oct 1, 2010 11:21am Oct 1, 2010 11:21am
Quoting trending
Some diamond behavior for your consideration.

As for scalping, whatever works in the higher tf works in lower tf, but with less probability.

hmmm ... interesting ... food for thought ...



.
  • #257,960
  • Oct 1, 2010 11:27am Oct 1, 2010 11:27am
Quoting iqyu5an
how long u will be in serious demo ?
how is the mentality ? how u can measure the mentality ?

when comfortable and cosy with the rules and techniques ....

when calls have more winners than losers ...
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