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Cable Update (GBPUSD)

  • #273,821
  • Mar 10, 2011 6:03am Mar 10, 2011 6:03am
BOE leaves bank rate unchanged....
Do your time and enjoy the ride...
  • #273,822
  • Mar 10, 2011 6:04am Mar 10, 2011 6:04am
Quoting _BBKing_
me too i would be very surpised.
im askin my self what about "asset purchase facility" ?
No. Only one member voted for this last month.
  • #273,823
  • Mar 10, 2011 6:08am Mar 10, 2011 6:08am
Quoting Sahil
I am short at 6200.
Great trade bro even tho risky.
  • #273,824
  • Mar 10, 2011 6:20am Mar 10, 2011 6:20am
prev. post

http://www.forexfactory.com/showthre...=1#post4460567

its been long time.. not post here... my bad

this is 4 hours timeframe sorry
Attached Image
  • #273,825
  • Mar 10, 2011 6:25am Mar 10, 2011 6:25am
Quoting sayto.profit
When you have taken a trade with the trend, you could afford to have a much bigger SL and also add to your losing trades as well for the purposes of averaging. Your SL can even be 300 pips for GBPJPY if you are sure that the trend is still intact while having the same SL for a trade against the trend would be foolish. So the SL will always vary with the currency pair and also the situation under which the trade is taken. This is why it is very important to understand whether a move against your trade is due to a change in trend or due to a retracement....
300 pip SL! Kiss you R/R goodbye unless you are looking for 600+ pip profit and you work of the monthly timeframe!
  • #273,826
  • Mar 10, 2011 6:30am Mar 10, 2011 6:30am
From my point of view, I guess cable ll be going up at least 1.6278 area (by considering there are many resistance there).
here is my chart, maybe u see something that i miss..

http://img823.imageshack.us/img823/8890/euh4m.gif
  • #273,827
  • Mar 10, 2011 6:38am Mar 10, 2011 6:38am
Quoting bbakker
300 pip SL! Kiss you R/R goodbye unless you are looking for 600+ pip profit and you work of the monthly timeframe!

Anything less than 100 pip sl on GBPJPY is foolish. Professional traders will often run a 500~1000 pip sl on that pair. Its not about RR, it's all about lot sizing for the pair. (MM)
  • #273,828
  • Mar 10, 2011 6:52am Mar 10, 2011 6:52am
I'm Looking for Scalping Buy 1.6088 For TP 1.6188 Then Short Again for Tomorrow 1.6125 TP 1.5995
Attached Image (click to enlarge)
Click to Enlarge Name: gbp project.gif Size: 62 KB
  • #273,829
  • Mar 10, 2011 6:53am Mar 10, 2011 6:53am
Pound still falling. Targets anyone? Getting up there in the daily pip range... Anyone agree disagree?
Do your time and enjoy the ride...
  • #273,830
  • Mar 10, 2011 6:55am Mar 10, 2011 6:55am
Quoting Mpt
Anything less than 100 pip sl on GBPJPY is foolish. Professional traders will often run a 500~1000 pip sl on that pair. Its not about RR, it's all about lot sizing for the pair. (MM)
Professional traders that work for banks and institutions don't use stop losses.

I used a 7 pip SL on EURJPY last night and woke up to be 70 pips in profit. My entry was 115.23 and my SL was 115.30. Foolish?

Whatever floats your boat!
  • #273,831
  • Mar 10, 2011 6:56am Mar 10, 2011 6:56am
I'll long from daily support for a small risk SL.
Make it rain baby
  • #273,832
  • Mar 10, 2011 7:03am Mar 10, 2011 7:03am
Attached Image


When it gets to 5%, I am gonna short CPI

Interest rate dilemma for the Bank of England's MPC
http://www.bbc.co.uk/news/business-12677724

With some nice pretty graphics, one of which I half inched!
  • #273,833
  • Mar 10, 2011 7:04am Mar 10, 2011 7:04am
Quoting Good Fortune
Pound still falling. Targets anyone? Getting up there in the daily pip range... Anyone agree disagree?
i think where heading back up to 1.6200
  • #273,834
  • Mar 10, 2011 7:07am Mar 10, 2011 7:07am
Quoting bbakker
Professional traders that work for banks and institutions don't use stop losses.

I used a 7 pip SL on EURJPY last night and woke up to be 70 pips in profit. My entry was 115.23 and my SL was 115.30. Foolish?

Whatever floats your boat!
1:10 nice, i dont know of many people getting such RR , how did you get a 7pip SL on EJ, i dont trade EJ anymore but i know that pair usually asks for bigger SL, so thats real good.
  • #273,835
  • Mar 10, 2011 7:12am Mar 10, 2011 7:12am
Quoting CoffeeDrinke
1:10 nice, i dont know of many people getting such RR , how did you get a 7pip SL on EJ, i dont trade EJ anymore but i know that pair usually asks for bigger SL, so thats real good.
Pull up the chart. Look at the daily first which show signs of reversal, then the m15 chart. It has been ranging this week, looking to break to the downside. Low risk, high probability trade in my eyes.
  • #273,836
  • Mar 10, 2011 7:25am Mar 10, 2011 7:25am
Quoting bbakker
Pull up the chart. Look at the daily first which show signs of reversal, then the m15 chart. It has been ranging this week, looking to break to the downside. Low risk, high probability trade in my eyes.
115,21?? But that is a very nice sell, i lookd on 4hours hehe thats really a mother of a tight range lol.
  • #273,837
  • Mar 10, 2011 7:37am Mar 10, 2011 7:37am
Quoting bbakker
Professional traders that work for banks and institutions don't use stop losses.

I used a 7 pip SL on EURJPY last night and woke up to be 70 pips in profit. My entry was 115.23 and my SL was 115.30. Foolish?

Whatever floats your boat!
LOL that was me 1 year ago..,SL 10 pips and target always bigger than 100 pips..,
i don't know if that strategy is good or not, but mostly that will cause so many small lose, and some big win (that probably could cover all lose or atleast equal..,)
just becareful with over trade sir...
in that strategy i always get trap with this stupid math:

60 pips= 3%
if i could compress my SL to 10 pips only, so i could have 6 open possition... i think that simple math sound stupid right now..,cos with that i always end with 10 pips x 6 =60 pips lose in less than 3 hour...always..,

just sharing..,no comment or try to teach you..,all the best for you sir..
I will be the number one Manager.
  • #273,838
  • Mar 10, 2011 7:46am Mar 10, 2011 7:46am
Quoting redbeben
next stop for the shorts at 1.6160,1.6145,1.6125-30 and 1.6115-10 and 1.6080 should hold
finally all TP's hit

I can go to sleep now
  • #273,839
  • Mar 10, 2011 7:48am Mar 10, 2011 7:48am
LOL closed my sell near this bottom now and then boom it snaps through it hehe, i hate when it happens.
  • #273,840
  • Mar 10, 2011 7:55am Mar 10, 2011 7:55am
Quoting CoffeeDrinke
115,21?? But that is a very nice sell, i lookd on 4hours hehe thats really a mother of a tight range lol.
The high with my broker was 115.24... I got filled at 115.23.

Here is a post from the end of last year where I had 33 and 42 pip SL (Only 2 pip heat on this one!) and I managed 800 pips on my last runner on each pair - http://www.forexfactory.com/showthre...58#post4186058

Sometimes I wait for confirmation, at other times I just try to preempt so long the higher timeframes are in my favour!

I don't post many trades any more, out of respect for OTA.
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