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Cable Update (GBPUSD)

  • #258,421
  • Oct 5, 2010 3:26am Oct 5, 2010 3:26am
Quoting chazzle
You would be surprised how high it is,lol
Yeah I'm thinking of reducing my risk per trade a little more
Enter Signature
  • #258,422
  • Oct 5, 2010 3:29am Oct 5, 2010 3:29am
Quoting AdrianHNV
That is why I now trade the way I was 'taught with a twist' or even two or more now.

I am only demo but roughly 40 pips = 2 % and I target 2 % profit per day

today I achieved slightly over that.

my biggest fault seems to be I take my 2% and run, look at today for example, I closed @ 1.5850 for just over 2% and it is now @ 1.59

I live on the theory that the market can go anyway at anytime, so once I have achieved my 2% I close and reassess for another 2% opportunity.
  • #258,423
  • Oct 5, 2010 3:32am Oct 5, 2010 3:32am
couldn't resist another short 15896...pending also 15920
  • #258,424
  • Oct 5, 2010 3:33am Oct 5, 2010 3:33am
Quoting darrenware
Yeah I'm thinking of reducing my risk per trade a little more

start small till u know what the market is doing..so u can win 75% of yur trades at least..then when every1 is confused and u cant understand it!..thats i guess the time to increase stake..

take yur time buddy..theres no rush..market is always going to be here..

target reaching for is 1.60 test..have a good one folks
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  • #258,425
  • Oct 5, 2010 3:34am Oct 5, 2010 3:34am
Sell_limit@1,5908 sl5930, TP1-5867, TP2 5788, TP3 5699

reasons:
almost 200 pips upmove
main downward TL
possible double top
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  • #258,426
  • Oct 5, 2010 3:35am Oct 5, 2010 3:35am
Quoting Dayboy001
I am only demo but roughly 40 pips = 2 % and I target 2 % profit per day

today I achieved slightly over that.

my biggest fault seems to be I take my 2% and run, look at today for example, I closed @ 1.5850 for just over 2% and it is now @ 1.59

I live on the theory that the market can go anyway at anytime, so once I have achieved my 2% I close and reassess for another 2% opportunity.
When / If I go live I will use the smallest amount possible and still target the same 40 pips and build my confidence that way.

My goal is in pips, ignore the money
  • #258,427
  • Oct 5, 2010 3:38am Oct 5, 2010 3:38am
Quoting Dayboy001
I am only demo but roughly 40 pips = 2 % and I target 2 % profit per day

today I achieved slightly over that.

my biggest fault seems to be I take my 2% and run, look at today for example, I closed @ 1.5850 for just over 2% and it is now @ 1.59

I live on the theory that the market can go anyway at anytime, so once I have achieved my 2% I close and reassess for another 2% opportunity.
Good plan, to close once you have achieved your daily target, I know many including myself in the early days of 'forex' who just had too go for one more and then 'over-traded and lost the gains....

At 2% a day profit compounded over several months adds up to a lot of profit. One of the best things about forex is good MM, regardless of how good at trading one is.

  • #258,428
  • Oct 5, 2010 3:38am Oct 5, 2010 3:38am
Demo is nice for touching the platform, but thats all...

when I started on demo, I make consistetly over 6 month in the row profit, when I start on real account I blow it within 2 month...
demo is different then real... try to go at least at micro lots...

good luck in your trading...

Quoting Dayboy001
I am only demo but roughly 40 pips = 2 % and I target 2 % profit per day

today I achieved slightly over that.

my biggest fault seems to be I take my 2% and run, look at today for example, I closed @ 1.5850 for just over 2% and it is now @ 1.59

I live on the theory that the market can go anyway at anytime, so once I have achieved my 2% I close and reassess for another 2% opportunity.
  • #258,429
  • Oct 5, 2010 3:39am Oct 5, 2010 3:39am
Quoting scurt
Sell_limit@1,5908 sl5930, TP1-5867, TP2 5788, TP3 5699

reasons:
almost 200 pips upmove
main downward TL
possible double top

200 pip move is nothing when price is in consolidation and looking to breakout..
euro is moving up like a nutcase showing usd weakness

price is in an uptrend weekly downtrend line is broken, possible double top is just a possibility..way to early to short!! but this is my reasoning behind being long..trade safe and be lucky

i think thou looking at yur trade target and SL u realise this is a long shot..and have set realistic goal
  • #258,430
  • Oct 5, 2010 3:40am Oct 5, 2010 3:40am
Quoting scurt
Demo is nice for touching the platform, but thats all...

when I started on demo, I make consistetly over 6 month in the row profit, when I start on real account I blow it within 2 month...
demo is different then real... try to go at least at micro lots...

good luck in your trading...
Demos are nothing more than trying to sucker you into opening a account. Don't you believe demos good more in your favor? Price feeds don't even match between demo and real.
  • #258,431
  • Oct 5, 2010 3:40am Oct 5, 2010 3:40am
Quoting Dayboy001
When / If I go live I will use the smallest amount possible and still target the same 40 pips and build my confidence that way.

My goal is in pips, ignore the money
2% a day is 480% a year without even taking into consideration compounding gains (keeping same lot size all year)...which would be great!
  • #258,432
  • Oct 5, 2010 3:41am Oct 5, 2010 3:41am
Quoting nAVIN2007

take yur time buddy..theres no rush..market is always going to be here..

Thanks
Enter Signature
  • #258,433
  • Oct 5, 2010 3:43am Oct 5, 2010 3:43am
1.6250 is possible but lets clear 1.6 first


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Mind over matter..I don't mind and you don't matter.
  • #258,434
  • Oct 5, 2010 3:47am Oct 5, 2010 3:47am
Quoting chazzle
2% a day is 480% a year without even taking into consideration compounding gains (keeping same lot size all year)...which would be great!
Only small amount of time I know but i have 55 trading days under my belt, just under 3 months I am just trying to get a system in my head so I can ignore the money !!

I am happy with the result but as we all know trading for real is different.

I used to trade more currencies, but now I have found just watching GBP/USD you get to know the TL / S / R areas, I have been trading the same play for over a week ( I wish the GBP/USD stayed here forever)

I do occasionally enter on other currencies but find I am never as confident because I don't recognise the areas so well.
  • #258,435
  • Oct 5, 2010 3:48am Oct 5, 2010 3:48am
Quoting chazzle
2% a day is 480% a year without even taking into consideration compounding gains (keeping same lot size all year)...which would be great!
that will never happen.
you have to account for losing periods.
Thank You
  • #258,436
  • Oct 5, 2010 3:49am Oct 5, 2010 3:49am
oh btw, hello cable bulls. higher plez
Thank You
  • #258,437
  • Oct 5, 2010 3:49am Oct 5, 2010 3:49am
Do you think the pair is trong enough to break last weeks high ? 1.5921?
  • #258,438
  • Oct 5, 2010 3:50am Oct 5, 2010 3:50am
Quoting Dayboy001
When / If I go live I will use the smallest amount possible and still target the same 40 pips and build my confidence that way.

My goal is in pips, ignore the money

Good talk... And great growing your confidence!!
  • #258,439
  • Oct 5, 2010 3:50am Oct 5, 2010 3:50am
The fib expansion zone of move 4-5 still seems possible re teh weekly...(circled)

G/L

http://www.easy-upload.net/fichiers/...0105105015.gif
ex member
  • #258,440
  • Oct 5, 2010 3:56am Oct 5, 2010 3:56am
SL lowered to 5917

Quoting scurt
Sell_limit@1,5908 sl5930, TP1-5867, TP2 5788, TP3 5699

reasons:
almost 200 pips upmove
main downward TL
possible double top

I agree with all you said, but the news for me I think it was already priced in... time will tell, anyway, I open small position when I am going countertrend...

Good luck bro, always aprecciate your post

Quoting nAVIN2007
200 pip move is nothing when price is in consolidation and looking to breakout..
euro is moving up like a nutcase showing usd weakness

price is in an uptrend weekly downtrend line is broken, possible double...
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