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Cable Update (GBPUSD)

  • #269,001
  • Jan 18, 2011 12:30pm Jan 18, 2011 12:30pm
Quoting TauTrader
Good day to you,


I am still in this trade. Wish me whatever....

Warm regards
hi TT, dont be so hard on urself. such temptations which are very common among noobs like me also gets to u more experienced guys. we r all human in the end. but there is still a ray of hope that the fall has started. especiall y as it didnt break through that key level i mentioned earlier. it could possibly get to 5885 b4 mounting another assault @6070. or perhaps just collapse from there. keep ur fingers crossed but anything that gets past 6070 will move some. just my inexperinced contribution. i actually took the first loss that time and got in again @6047. am still in it as its looking like piercing a key level @ 5971. if it fails then i take profit.cheers
  • #269,002
  • Jan 18, 2011 1:33pm Jan 18, 2011 1:33pm
Quoting TauTrader
Good day to you,

Time to own up...

Terrible trade taken. Dr.D - you were correct.

I have to now manage my BE. This will be @ 1.5969. In danger of giving away all Jan profit right here...

Lessons learnt. Any posters want to take me apart? Go for it. If you are profitable for the last 6 months, you have reason to give me stick. If not - embrace my confession. This was an extreme lesson.

I am still in this trade. Wish me whatever....

Warm regards
TT,

No need to "run the gauntlet" today.... or tomorrow or
ever for that matter. You've joined a kinder more gentle kind...
cortically depressed, humbled and penniless while incarcerated
in this asylum.

And the illusion goes on. Here's another 5m 100-150 pip c-pattern.

Dr. D.
Attached Image
  • #269,003
  • Jan 18, 2011 1:43pm Jan 18, 2011 1:43pm
Quoting GlobalMacro
After days of uninterrupted rally a potential push lower (off the minor channel) might be in sight...

I am selling here @ 1.6002
Alright...late in the session no significant movements in the market

I am exiting shorts here @ 1.5952 and booking 50 pips profit.

My Position Is Now F L A T.
Hear the music before the song is over ...
  • #269,004
  • Jan 18, 2011 1:48pm Jan 18, 2011 1:48pm
Short entered at 568, already at B/E.
"I made all my money by selling too soon"
  • #269,005
  • Jan 18, 2011 1:51pm Jan 18, 2011 1:51pm
Quoting TauTrader
Good day to you,

Time to own up...

Terrible trade taken. Dr.D - you were correct.

I have to now manage my BE. This will be @ 1.5969. In danger of giving away all Jan profit right here...

Lessons learnt. Any posters want to take me apart? Go for it. If you are profitable for the last 6 months, you have reason to give me stick. If not - embrace my confession. This was an extreme lesson.

I am still in this trade. Wish me whatever....

Warm regards
And with that candid confession, may I offer a poultice
vouch to be applied as a healing balm to your wounds.

Dr. D.
  • #269,006
  • Jan 18, 2011 1:57pm Jan 18, 2011 1:57pm
Quoting Bleek
Short entered at 568, already at B/E.
I made a massive 1 pip ($50)!

Was hoping it might break down a bit harder but hey-ho, nothing ventured, nothing gained.
"I made all my money by selling too soon"
  • #269,007
  • Jan 18, 2011 2:11pm Jan 18, 2011 2:11pm
Will Weak U.K. Employment Data Dim Interest Rate Expectations and Ease the Rally in the Pound?

http://www.dailyfx.com/forex/fundame...medium=twitter
  • #269,008
  • Jan 18, 2011 2:17pm Jan 18, 2011 2:17pm
Quoting fourxtrader
And with that candid confession, may I offer a poultice
vouch to be applied as a healing balm to your wounds.

Dr. D.
Good day to you,

Much appreciated. thank you.

My trade has turned a small profit.. believe it or not. Scary. I guess MM does play a role...

BUT - you were spot on. You called the retrace- the 1.6000 and the return. I am impressed.

I have now closed all "panic" positions . I will leave this thread for a couple of days to sort myself out. I will be back soon. This remains the best thread on FF.

Warm regards to all
  • #269,009
  • Jan 18, 2011 3:03pm Jan 18, 2011 3:03pm
Hello fellow traders.

I have been trading the forex marked for about one year and lost one years salary.
So,I must admit that I am not a damn good trader

I do the standard long when we are at the peak and vice verca.

Should I just quit trading, probably.
But first I would like to try a different approach.

Is there anybody trading “London opening breakout” systems?
I notice that the cable seems to go the same direction for about 100 pips from the opening in London.

I have read about people just using 1M candle from 08:00-08:01 as indicator.
Probably is just a bunch of BS but still would like to ask you people if any of you use any variant of this opening strategy?

Thanks
  • #269,010
  • Jan 18, 2011 3:12pm Jan 18, 2011 3:12pm
sorry about your lose man,
I would say first step should be trade on demo for a period of time until you know that you are in positive for atleast 3 months.
develop your strategy work on your strategy, risk management.
Then start trading again.
Hope you get your money back
gl


Quoting soulfly
Hello fellow traders.

I have been trading the forex marked for about one year and lost one years salary.
So,I must admit that I am not a damn good trader

I do the standard long when we are at the peak and vice verca.

Should I just quit trading, probably.
But first I would like to try a different approach.

Is there anybody trading “London opening breakout” systems?
I notice that the cable seems to go the same direction for about 100 pips from the opening in London.

I have read about people just using 1M candle from 08:00-08:01 as indicator.
Probably...
  • #269,011
  • Jan 18, 2011 3:13pm Jan 18, 2011 3:13pm
Also check out babypips.com
you will find really helpful material on there!

Quoting soulfly
Hello fellow traders.

I have been trading the forex marked for about one year and lost one years salary.
So,I must admit that I am not a damn good trader

I do the standard long when we are at the peak and vice verca.

Should I just quit trading, probably.
But first I would like to try a different approach.

Is there anybody trading “London opening breakout” systems?
I notice that the cable seems to go the same direction for about 100 pips from the opening in London.

I have read about people just using 1M candle from 08:00-08:01 as indicator.
Probably...
  • #269,012
  • Jan 18, 2011 3:47pm Jan 18, 2011 3:47pm
Quoting hkkhanus
Also check out babypips.com
you will find really helpful material on there!
Thanks,
The problem is that i dont have time to be a full time trader, but just adding positions while working or at evening when no action in the marked.

I guess I am looking for the holy grale as everyone else.

Think I will take you advice with some Demo trading and see if I can find a good way to take a trade during the London opening hours.
  • #269,013
  • Jan 18, 2011 4:07pm Jan 18, 2011 4:07pm
What have you been doing for a whole year to lose your salary? Did you follow a particular system, TA or PA, or a mix of many things?
"I made all my money by selling too soon"
  • #269,014
  • Jan 18, 2011 4:17pm Jan 18, 2011 4:17pm
Quoting Bleek
What have you been doing for a whole year to lose your salary? Did you follow a particular system, TA or PA, or a mix of many things?
First problem is overleverage.
Might have the right direction, but stopped out before the real action begin.

Reading the EURUSD thread on this forum, FXstreet etc.
a tipical trade for me today would have been to go long about 1.6040 when people start selling etc.

trading when there is no real trend, just to take trade.
Sort of gambling problem, always need to have a active trade going.

I think today is the first day I have not taken any trades.

So to summarize:
Just bade despo trading to win back what I lost.

I dont think I am the only one doing this, but people dont write so mutch about there failiure on forums like this.
  • #269,015
  • Jan 18, 2011 4:25pm Jan 18, 2011 4:25pm
Quoting soulfly
Hello fellow traders.

I have been trading the forex marked for about one year and lost one years salary.
So,I must admit that I am not a damn good trader

I do the standard long when we are at the peak and vice verca.

Should I just quit trading, probably.
But first I would like to try a different approach.

Is there anybody trading “London opening breakout” systems?
I notice that the cable seems to go the same direction for about 100 pips from the opening in London.

I have read about people just using 1M candle from 08:00-08:01 as indicator.
Probably...
For goodness sake, how could you lose 1 year's salary? By the sounds of things you have been trading blindly with no plan or money management. You must have traded without a stop and let the trade run and run but in the wrong direction. Never risk more than 2%-5% of your account so that even if you have some bad trades (which we all do lol) you still have an account to trade at least. This has been a very bad start on your part but please go back to basics,after which, use a demo to get consistent. Then hopefully move onto a live account (probably micro) and build your way up from there. GL pal.
You've got to be IN IT to WIN IT!
  • #269,016
  • Jan 18, 2011 4:42pm Jan 18, 2011 4:42pm
Quoting TauTrader
Good day to you,

Much appreciated. thank you.

My trade has turned a small profit.. believe it or not. Scary. I guess MM does play a role...

BUT - you were spot on. You called the retrace- the 1.6000 and the return. I am impressed.

I have now closed all "panic" positions . I will leave this thread for a couple of days to sort myself out. I will be back soon. This remains the best thread on FF.

Warm regards to all
Mr TT
Cools to you.
Your honesty ,skill and humour gives us all hope.
All systems of divination, like music itself,work through patterns.
  • #269,017
  • Jan 18, 2011 4:47pm Jan 18, 2011 4:47pm
Quoting soulfly
Thanks,
The problem is that i dont have time to be a full time trader, but just adding positions while working or at evening when no action in the marked.

I guess I am looking for the holy grale as everyone else.

Think I will take you advice with some Demo trading and see if I can find a good way to take a trade during the London opening hours.
The worst thing you can do is add positions when the market is mostly asleep.

** There is no holy grail... each successful trader has his/her own method of trading that they have learned thru countless hours of research and practice. And the best time to learn is when the market is either in London/Euro session or U.S session. If you can't find the time to study market behavior during these times bcuz of work or needed sleep, then this business is NOT for you.
  • #269,018
  • Jan 18, 2011 5:38pm Jan 18, 2011 5:38pm
Quoting TauTrader
Good day to you,

Much appreciated. thank you.

My trade has turned a small profit.. believe it or not. Scary. I guess MM does play a role...

BUT - you were spot on. You called the retrace- the 1.6000 and the return. I am impressed.

I have now closed all "panic" positions . I will leave this thread for a couple of days to sort myself out. I will be back soon. This remains the best thread on FF.

Warm regards to all
The left shoulder was a week in the making... I don't expect
any the less on the right or for the price to febbly drop back
down and go away easily from the 1.6000 challenge or beyond.



Dr. D.
Attached Image
  • #269,019
  • Jan 18, 2011 7:18pm Jan 18, 2011 7:18pm
Quoting soulfly
Hello fellow traders.

I have been trading the forex marked for about one year and lost one years salary.
So,I must admit that I am not a damn good trader

I do the standard long when we are at the peak and vice verca.

Thanks
Hi soulfly, this chart is backing up the PM I sent you, just suggestions on retraining, there is a lot of good advice to be had on this site.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd convergence divergence.jpg Size: 77 KB
Never been vouched
  • #269,020
  • Jan 18, 2011 7:42pm Jan 18, 2011 7:42pm
Good Morning,

3 of my pending orders get triggered.
That bullish HD gave a nice breakfast and an extra for LO lunch.

Trend is a friend, but why keep shorting..
G/L

Regards
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AlphaGM